Author: kumbhorg

Michael Race & Faisal IslamBusiness reporter & Economics editor, BBC NewsGetty ImagesChancellor Rachel Reeves says she is “optimistic” on the UK economy despite pressure on government finances after borrowing rose more than expected in December.Borrowing – the difference between spending and tax revenue – was £17.8bn last month, the highest December level for four years, according to official figures.Spending on public services, benefits, and debt interest were all up on the year, while an increase in tax receipts was offset by National Insurance cuts made by the previous government.Recent rises in borrowing costs threaten the government’s economic plans, with Reeves…

CNN  —  It’s time for investors to start making safer bets. That’s what Howard Marks, co-chairman of Oaktree Capital, told CNNMoney editor-at-large Richard Quest on “Markets Now” on Wednesday. “Defense is more important than offense” right now, said Marks, the author of “Mastering the Market Cycle: Getting the Odds on Your Side.” Investors should consider taking a stake in utilities, and decreasing their investments in more volatile tech stocks, he said. Defense is the name of the game for a few reasons. Though stocks have been soaring, Marks warned that we may be nearing the end of the bull cycle.…

Christal Hayes & Phil McCauslandBBC NewsBBCDonald Trump’s first full day in office has come to an end with a late-evening move to shut down the offices of federal agencies overseeing diversity, equity and inclusion programmes.He also pardoned a man convicted of operating Silk Road, a dark web marketplace, and launched a $500bn artificial intelligence plan.On Wednesday he will meet congressional leaders and appear on Sean Hannity’s show on Fox News. His most frenetic time in a busy few days came shortly after taking the oath at his inauguration on Monday.He signed a flurry of executive orders to enact some of…

Click chart for more in-depth data. 1. The race to driverless cars: SoftBank (SFTBF) and Toyota (TM) are forming a joint venture that will use driverless-car technology to offer new services, such as mobile convenience stores and delivery vehicles in which food is prepared en route. SoftBank will own just over half of Monet, the new business, while Toyota will hold the rest. It’s the latest in a series of driverless development partnerships announced by tech companies and carmakers. SoftBank’s $100 billion Vision Fund, its tech-focused investment arm, had already committed $2.3 billion to General Motors’ self-driving car unit GM…