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To Danny Yong, the Middle East is still Asia. In particular, multi-strategy hedge funds, the industry subset that large allocators are desperate for thanks to their uncorrelated and consistent returns, are growing in markets like Hong Kong and Singapore. Houston-based Pan Capital is planning to hire macro PMs in Hong Kong this year. These people-heavy firms need plenty of talent to make it all work, and the relatively small size of the Singapore market, coupled with political uncertainty in Hong Kong, puts a strain on the entire system. "Managers follow allocator trends, and the Middle East has been actively allocating while other regions have slowed their deployment.
Persons: Danny Yong, firm's, Yong, there's, Kurt Baker, Jonathan Xiong, Bobby Jain, Amir Ravan, Arun Singhal, Alan Howard, Simon Sadler, Dymon, Samantha Rosenstock, Craig Thorburn, It's, Joe Cheung, , Cheung Organizations: Business, Dymon, UAE, Millennium, Bloomberg, Pan, Segantii Capital Management, Blackpool Football Club, Man, Hong Kong Monetary Authority, Citadel Locations: Asia, Japan, Hong Kong, Singapore, Dubai, Dymon Asia, Houston, Point72, Tokyo, Sidney, Abu Dhabi, United Kingdom, London, Miami, New York, China
watch now"For mothers, employment and earnings conditional on being employed fall sharply around the time of birth for women, and, more ominously, may remain permanently lower well after childbirth," the authors of the PNAS study wrote. There is a dynamic that perpetuates itself, according to Jasmine Tucker, vice president of research at the National Women's Law Center. Alternatively, fathers who work full time experience a wage "bonus" when they have children, according to a separate report by the British trade union association TUC. "The gender imbalance in time spent on caregiving persists, even in marriages where wives are the breadwinners." In fact, the motherhood penalty is even greater in "female-breadwinner" families, the PNAS study also found, where higher-earning women experience a 60% drop from their pre-childbirth earnings relative to their male partners.
Persons: Jasmine Tucker, Tucker, Richard Fry Organizations: National Women's Law, TUC, Fathers, Pew Research Center, Pew, CNBC Locations: British
A UK chicken shop owner has lost a lengthy legal dispute with Elon Musk's Tesla. The two have been fighting over a trademark for a takeaway called Tesla Chicken & Pizza. AdvertisementA chicken shop owner in Northern England has lost a lengthy legal dispute with Elon Musk's Tesla. Amanj Ali's takeaway in Bury, Greater Manchester, called Tesla Chicken & Pizza, was at the center of a trademark dispute with the EV company. AdvertisementIn October last year, Meta's Threads ran into issues with a small UK software company called Threads Software Limited.
Persons: Elon Musk's Tesla, Amanj Ali, Tesla, , Ali, Nikola Tesla, Meta Organizations: Elon, Service, EV, BBC, Business, Software, British Locations: Northern England, Bury , Greater Manchester
REUTERS/Dado Ruvic/Illustration/ File photo Acquire Licensing RightsBEIJING, Nov 9 (Reuters) - The Chinese government on Thursday told Britain to stop its efforts to "enhance" ties with Taiwan after a high level meeting in London and the signing of a new trade agreement between the island and Britain. "We urge the UK to abide by the one-China principle and stop using trade cooperation as an excuse to engage in official exchanges or enhance substantive relations with Taiwan," it added. Britain and Taiwan both maintain de facto embassies in each other's capitals, but London does not officially recognise the democratically elected government in Taipei. Britain approved a sharp increase in exports of submarine parts and technology last year to Taiwan as it upgrades its naval forces, Reuters reported in March. Because of its diplomatic isolation and pressure from China, chip powerhouse Taiwan has few formal foreign trade agreements, though it is a member of the World Trade Organization and has free trade agreements with Singapore and New Zealand.
Persons: Dado Ruvic, Nigel Huddleston, Chen Chern, Ben Blanchard, Sam Holmes Organizations: REUTERS, Rights, Wednesday, Trade Partnership, British Trade, World Health Organization, Reuters, World Trade Organization, Beijing, Thomson Locations: Rights BEIJING, Britain, Taiwan, London, China's, Beijing, China, Taipei, Singapore, New Zealand
The Israel-Hamas war could have a significant impact on economic growth and inflation in the euro zone unless energy price pressures remain contained, according to Goldman Sachs . The ongoing hostilities could affect European economies via lower regional trade, tighter financial conditions, higher energy prices and lower consumer confidence, Europe Economics Analyst Katya Vashkinskaya highlighted in a research note Wednesday. Concerns are growing among economists that the conflict could spill over and engulf the Middle East, with Israel and Lebanon exchanging missiles as Israel continues to bombard Gaza, resulting in massive civilian casualties and a deepening humanitarian crisis. She noted that tighter financial conditions could weigh on growth and exacerbate the existing drag on economic activity from higher interest rates in both the euro area and the U.K. However, Goldman does not see a clear pattern between financial conditions and previous episodes of tension in the Middle EastThe most important and potentially impactful way in which tensions could spill over into the European economy is through oil and gas markets, Vashkinskaya said.
Persons: Goldman Sachs, Katya Vashkinskaya, Goldman, Vashkinskaya Organizations: Israel Defense Forces, Hamas Locations: Gaza, Israel, Palestinian, Europe, Lebanon
Threads Software Limited and its lawyers wrote to Meta to tell it to stop using the Threads name in the UK. AdvertisementAdvertisementA British software company is giving Meta 30 days to stop using the name Threads in the UK because it owns the trademark. Threads Software Limited says its lawyers wrote to the Facebook and Instagram parent company on Monday. If Meta doesn't stop using the name Threads, Threads Software Limited says it will seek an injunction from the courts. John Yardley, the managing director of Threads Software Limited, said the business "faces a serious threat from one of the largest technology companies in the world."
Persons: It's, Meta, , Elon Musk's, John Yardley, Musk, ChatGPT, Mark Zuckerberg, David, Goliath, Yardley Organizations: Software, Meta, Service, Facebook, Elon, Threads Software Locations: British
Britain signs state-level trade accord with Washington
  + stars: | 2023-09-25 | by ( ) www.reuters.com   time to read: +2 min
Britain had hoped for a sweeping bilateral trade deal with the United States after splitting from the European Union, but with President Joe Biden putting all talks on free trade agreements on hold, the British government has pursued state-level agreements instead. The British trade ministry said aerospace would be a priority sector under the Washington MoU, with Boeing (BA.N) being based in the state. The MoU with Washington is the sixth such agreement with a U.S. state. Washington state is also the home of Amazon (AMZN.O), Starbucks (SBUX.O) and Microsoft (MSFT.O), and is the state with the 11th highest gross domestic product (GDP). The six U.S. states covered by MoUs with Britain have a combined GDP of over 2 trillion pounds ($2.4 trillion), Britain said.
Persons: Nusrat Ghani, Kirsty Wigglesworth, Britain, Joe Biden, Ghani, Alistair Smout, William James Our Organizations: Britain's, State Department for Business, Conference, U.S, European Union, Boeing, Starbucks, Microsoft, Thomson Locations: Ukraine, London, Britain, U.S ., Washington, Florida , Texas, California, United States, British, U.S
UK unions suspend London Underground strikes next week
  + stars: | 2023-07-21 | by ( ) www.reuters.com   time to read: +1 min
[1/2] People stand outside Victoria Underground station that is closed while London Underground workers strike over pay and terms, in London, Britain, August 19, 2022. REUTERS/Henry NichollsLONDON, July 21 (Reuters) - Two British trade unions on Friday called off strikes on London's underground train network which had been planned to take place next week, citing progress in talks on pensions and working conditions. The National Union of Rail, Maritime and Transport Workers (RMT) union had been planning to take industrial action between July 23 and 28. "After a week of intense negotiations, we have made real progress in making sure our members’ working conditions and pensions are protected," Finn Brennan, ASLEF organiser, said in a statement. "Our campaign to defend jobs, conditions and our members pensions will continue in the coming weeks and months," Lynch said.
Persons: Henry Nicholls LONDON, Finn Brennan, Mick Lynch, Lynch, William James, Farouq Suleiman, Jason Neely Organizations: London Underground, REUTERS, National Union of Rail, Transport Workers, Associated Society of Locomotive Engineers, Firemen, Thomson Locations: London, Britain, British, Maritime
British Prime Minister Rishi Sunak won the backing of parliament on Wednesday for a key element of a reworked post-Brexit deal on Northern Ireland. Despite the opposition, Sunak won the vote by 515 to 29, suggesting that several in his Conservative Party had abstained on the vote. "The Stormont brake is at the heart of the (Windsor) Framework," Northern Ireland minister Chris Heaton-Harris told parliament ahead of the vote. "It restores practical sovereignty for the United Kingdom as a whole and the people of northern Ireland in particular." Johnson, the face of the campaign to leave the EU, and his successor, Truss, both said they would vote against the brake.
Sunak has tried to end years of wrangling over Brexit by revisiting one of the trickiest parts of the negotiations - to ensure smooth trade to Northern Ireland without creating a hard border with Britain or with European Union-member Ireland. "I welcome parliament voting today to support the Windsor Framework," Britain's Northern Ireland minister Chris Heaton-Harris said on Twitter. "This measure lies at the very heart of the Windsor Framework which offers the best deal for Northern Ireland, safeguarding its place in the Union and addressing the democratic deficit." Sunak hailed securing the deal last month as a "decisive breakthrough" but by alienating the DUP he has failed in restoring the power-sharing government in Northern Ireland. DUP leader Jeffrey Donaldson told parliament his party could not return to Northern Ireland's power-sharing government "at this stage".
Balfour Beatty's engineering workers to stage strikes in March
  + stars: | 2023-02-18 | by ( ) www.reuters.com   time to read: +1 min
Feb 18 (Reuters) - More than 100 engineering workers at Balfour Beatty (BALF.L) will stage three 48-hour strikes in March over pay disputes, British trade union RMT said on Saturday. The decision comes after the National Union of Rail, Maritime and Transport workers (RMT) rejected the company's offer to increase pay by 5.5% from April 2022. "Balfour Beatty is a highly profitable company and they need to use some of their excess wealth to reward their workers properly," RMT General Secretary Mick Lynch said. The strikes will start at 2200 GMT on Fridays to 0959 GMT on Sundays from March 3 to March 5, March 10 to March 12, and March 17 to March 19. Reporting by Jose Joseph in Bengaluru, Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.
LONDON, Jan 12 (Reuters) - British trade unions RMT and rail companies said on Thursday they were working jointly towards a revised offer for rail workers, in the first signs of a thaw in a long-running pay dispute that has led to months of disruptive transport strikes. "We have had detailed discussions and we are working jointly towards a revised offer," the RMT, and the Rail Delivery Group, which represents rail companies, said. The TSSA trade union also issued a similar statement about its own negotiations with the Rail Delivery Group, saying the two sides were working towards a revised pay offer. Sporadic rail strikes by tens of thousands of workers since last summer have heaped pressure on Prime Minister Rishi Sunak to do more to resolve the pay dispute and limit disruption. Separately, the Rail Delivery Group has offered the ASLEF train drivers' union an improved pay offer in a bid to end their labour dispute, the group said last week.
LONDON, Dec 11 (Reuters) - British trade minister Kemi Badenoch will hold her first face-to-face meeting with her Indian counterpart on Monday in New Delhi in an effort to spark life into talks over a free trade agreement (FTA) between the countries. Former Prime Minister Boris Johnson in April set an ambitious target to agree an FTA with India by Diwali in October. New Prime Minister Rishi Sunak has said he is committed to getting a deal with India but won't sacrifice quality for speed, in a change of tone compared to Johnson. Badenoch, who was appointed to her role in September, will meet Indian Trade Minister Piyush Goyal and address the negotiating teams before the round of talks begins. We applaud the Secretary of State and Prime Minister for listening and prioritising substance over pace," said Andy Burwell, International Director at the Confederation of British Industry.
British trade minister visits Washington
  + stars: | 2022-11-14 | by ( David Lawder | ) www.reuters.com   time to read: +1 min
LONDON, Nov 14 (Reuters) - British trade minister Kemi Badenoch will visit Washington on Monday to meet politicians and address business representatives to try to boost ties with the United States even as talks over a free trade deal have stalled. A U.S. free trade deal was touted as the one of the biggest prizes for Britain leaving the European Union. But hopes of a quick agreement were dashed when the incoming Biden administration put all free trade talks on ice. In the absence of a broader trade deal with the United States, Britain has been working to secure memorandums of understanding with individual states. The state-level MOUs have been criticised by the opposition Labour Party as being no substitute for a full U.S.-UK trade deal.
[1/6] British Minister of State at the Department for International Trade Greg Hands speaks during a meeting with Taiwan President Tsai Ing-wen at the presidential building in Taipei, Taiwan, November 9, 2022. Taiwan Presidential Office/Handout via REUTERSTAIPEI, Nov 9 (Reuters) - Taiwan hopes to sign a trade deal with Britain and deepen cooperation with new Prime Minister Rishi Sunak's government, President Tsai Ing-wen told a British minister visiting Taipei on Wednesday in defiance of Chinese demands such trips stop. "We attach great importance to the British proposal to promote an enhanced trade partnership between Taiwan and Britain," Tsai said. "Our goal is to strengthen mutually beneficial economic and trade exchanges between Taiwan and Britain and we hope Taiwan and Britain will work together to promote the signing of bilateral investment and trade agreements." Hands, in Taiwan for trade talks, told Tsai that their relationship was not only about that.
U.S. throws out Libor-rigging charges against Hayes
  + stars: | 2022-10-31 | by ( Reuters Staff | ) www.reuters.com   time to read: +1 min
FILE PHOTO: Tom Hayes, the first former trader convicted by a jury of manipulating Libor benchmark interest rates, poses for a picture, after being released from HM Prison Ford, in Arundel, Britain January 29, 2021. REUTERS/Toby MelvilleLONDON (Reuters) - A New York judge has dismissed criminal charges against Tom Hayes, the British trader who became the face of the global Libor interest rate scandal. Hayes was released from prison in Britain in January 2021 after serving half an 11-year sentence. Hayes’ legal team is considering further legal options to clear his name, a representative for Hayes said in a statement. “The U.S. Department of Justice has seen fit to dismiss charges based on the same facts, evidence and case in law that the UK courts used to justify my 11-year prison sentence,” Hayes said.
If this trend continues, 2022 would mark the first increase, after six consecutive years of shrinking exports, since the British referendum on whether to leave the European Union. "On the contrary, Brexit continues to create planning and legal uncertainty for internationally active German companies." In the ranking of Germany's most important trading partners, the United Kingdom took 10th place last year. In 2016, it was the fifth-most important trading partner. ($1 = 1.0133 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Rene Wagner, Writing by Miranda Murray, editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.
REUTERS/Peter Nicholls/LONDON, Sept 20 (Reuters) - A group of British trade unions is seeking a judicial review of regulations allowing companies to hire temporary staff from agencies to fill in for striking workers, the unions said on Tuesday. Eleven trade unions across a range of industries and representing millions of workers said the rules could worsen industrial disputes and undermine the right to strike. Register now for FREE unlimited access to Reuters.com RegisterThe unions said the new rules were unlawful as the then-business secretary Kwasi Kwarteng failed to consult unions. But the government is attacking it in broad daylight," Trade Unions Congress General Secretary Frances O'Grady said in a statement. It means workers can't stand up for decent services and safety at work – or defend their jobs and pay."
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