UK Chancellor Jeremy Hunt is set to present his autumn budget in the House of Commons later today. Bank of England governor Andrew Bailey says that recent political and financial turmoil has battered the country’s reputation. U.S. markets are in the red following a Christmas warning note from retail giant Target. Federal Reserve governor Christopher Waller indicates that pace of rate hikes may be close to slowing. Tuesday’s fatal explosion in eastern Poland has been judged not to have been part of a deliberate attack by Russia. However, European Parliament President Roberta Metsola tells CNBC that pressure on Moscow must be maintained. Singaporean investment titan Temasek writes down its $300m stake in FTX. It says it misplaced trust in CEO Sam Bankman-Fried. Short-seller Carson Block tells this channel that the crypto sector has lost its way.

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