Rachel Reeves’ next budget may be two months away, but its contours are becoming clearer after the UK Chancellor of the Exchequer used her party’s annual conference to lay the ground for raising taxes and lifting an unpopular cap on child benefits.

Higher levies on gambling companies, a potential freeze on income tax thresholds and changes to welfare spending were among the moves hinted at by Reeves and other senior ministers this week during the Labour Party’s four-day convention in Liverpool.

(Continue Reading - BBG)

NEW YORK, October 2 (Reuters) - Eli Lilly (LLY.N), opens new tab was asked to produce more insulin; Pfizer (PFE.N), opens new tab to produce more of its top-selling cancer drug Ibrance and its cholesterol drug Lipitor; and London-based AstraZeneca (AZN.L), opens new tab to consider a new headquarters in the U.S., according to two sources.

Pharmaceutical executives are getting near-daily calls from staff at the White House - including Chief of Staff Susie Wiles - and senior figures at agencies like Health & Human Services and the Commerce Department, two sources familiar with the matter said.

(Continue Reading - RTRS)

Hayes, Head of Total Return & Fixed Income Allocation, says an excessive focus on elevated ultra long-term gilt yields has unnecessarily dragged down sentiment in a market that has outperformed a number of other major countries in 2025.

“There remains this sense that gilts are incredibly challenged and stuck in a doom loop with 30-year bond yields moving higher and causing UK borrowing costs to rise,” he says. “But that overlooks the global context where other countries like the US and Japan have also experienced volatility at the long end. Look across the curve and the UK is not doing too badly at all compared to many other countries, particularly in Europe.”

(Continue Reading – MarketSquawk)