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City of London

City of London Shellshocked by Kwarteng’s ‘Fiasco’ of a Budget

  • Government’s policies described as ‘voodoo economics’
  • Self-inflicted financial crisis hits pound, UK debt yields
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El-Erian: 'Whole Series of Damage' Being Done in UK

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A mini-budget designed to please bankers instead left many in the City of London appalled after a chaotic week that saw the value of the pound whipsaw and the Bank of England intervene in the gilts market to stave off a crash.