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☆ Elite women’s sports tipped to generate over $1.2 billion next year
▼ + stars: | 2023-11-29 | by ( Ben Church | ) edition.cnn.com time to read: +2 min

CNN —Elite women’s sports will generate revenue of $1.28 billion in 2024, according to financial analysts Deloitte, up 300% from three years ago. “Crucially, women’s sport is increasingly being viewed as a unique product that is becoming ever more distinct from men’s elite sport.”The forecast comes at an exciting time for women’s sports, which have generally been on an upward trajectory in recent years. The FIFA Women’s World Cup, for example, was a roaring success which brought soccer to a whole new audience. Deloitte predicts the Women's Tennis Association (WTA) tour will be a major contributor to revenue next year. Sarah Stier/Getty ImagesDeloitte’s predictions forecast that valuations of women’s teams and leagues will continue to rise, with broadcast deals becoming increasingly lucrative.

Persons: ” Jennifer Haskel, “, Luis Rubiales, Jennifer Hermoso, Sarah Stier, ” Paul Lee, ” Organizations: CNN, Elite, Deloitte, Deloitte’s Sports Business, FIFA, Tennis Association, “ Broadcasters Locations: Spanish, Spain, Europe, North America

☆ Morning Bid: Treasuries gobbled up, oil braces for OPEC
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. Benchmark Treasury yields fell back more than 10 basis points to 4.37% after a total of $109 billion of 2 and 5-year notes hit the Street on Monday without much disruption. Another weak U.S. housing readout, with sub-forecast new home sales last month, perhaps flattered the post-auction moves. That's likely a mixed blessing for Federal Reserve watchers - the continued buoyancy of consumption but with increasing price discrimination. Fed futures priced about 85bps of rate cuts through next year, starting in June, though many major banks expect even more.

Persons: Brendan McDermid, Mike Dolan, That's, Hong, Louis, Christopher Waller, Michelle Bowman, Michael Barr, Austan Goolsbee, Christine Lagarde, Philip Lane, Dave Ramsden, BoE, Jonathan Haskel, Hewlett Packard, Ed Osmond Organizations: New York Stock Exchange, REUTERS, Treasuries, Treasury, Adobe Digital, Federal Reserve, Louis Fed, U.S . Treasury, Richmond Fed, Dallas Fed, . Treasury, Chicago Fed, European Central Bank, ECB, Bank of England, Citi Trends, Fluence Energy, Reuters, Reuters Graphics Reuters, Thomson Locations: New York City, U.S, Asia, Europe, United States, China, New York, St, Uxin, Canaan, Elbit

☆ London stocks fall as investors await more data; Rolls-Royce shines
▼ + stars: | 2023-11-28 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

A street cleaning operative walks past the London Stock Exchange Group building in the City of London financial district, whilst British stocks tumble as investors fear that the coronavirus outbreak could stall the global economy, in London, Britain, March 9, 2020. The exporter-heavy FTSE 100 (.FTSE) fell 0.6% touching a two-week low intraday, while the more domestically-oriented FTSE 250 midcap index (.FTMC) also shed 0.6%. Personal goods (.FTNMX402040) led declines among the major FTSE 350 sectors, with Burberry Group (BRBY.L) falling 2.7% after HSBC reduced the stock's price target. Investors will look ahead to UK mortgage data, inflation prints across the eurozone, and a Personal Consumption Expenditures (PCE) report in the U.S. - the Federal Reserve's preferred inflation gauge - later this week. Man Group (EMG.L) fell 3.2% after Morgan Stanley downgraded the hedge fund manager's stock to "Equal-Weight" from "Overweight".

Persons: Toby Melville, inflation's, Andrew Jones, Janus Henderson, Dave Ramsden, Jonathan Haskel, Pearson, Morgan Stanley, Shashwat Chauhan, Sonia Cheema Organizations: London Stock Exchange Group, REUTERS, Royce, Burberry Group, HSBC, PT Pearson, Man, Janus Henderson Investors, Bank of England's, Thomson Locations: City, London, Britain, U.S, Bengaluru

☆ Morning Bid: Inflation on the ropes, shutdown averted
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. Much like then, the sheer scale of the yield swoon has stoked bond volatility gauges (.MOVE) too. What's more, a quarter point rate cut by May is now 80% priced and 100bps of easing through 2024 is now baked in. U.S. corporate news stays on retail later as Target reports earnings, following a beat by Home Depot on Tuesday. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Brendan McDermid, Mike Dolan, Xi Jinping's, Joe Biden, Russell, Austan Goolsbee, Berkshire Hathaway, Warren Buffett, Michael Barr, Thomas Barkin, Jonathan Haskel, Xi Jinping, Bernadette Baum Organizations: New York Stock Exchange, REUTERS, Wall, Chicago Fed, Bank of America, Home Depot, Berkshire, General Motors, Procter, Gamble, Richmond Fed, Bank of England, APEC, Cisco Systems, Palo Alto Networks, Reuters, NFIB, Reuters Graphics Reuters, Thomson Locations: New York City, U.S, Wall, UK's, York, San Francisco

☆ Bank of England set to hold rates again, but markets see no cuts on the horizon
▼ + stars: | 2023-11-01 | by ( Elliot Smith | ) www.cnbc.com time to read: +5 min

People walk outside the Bank of England in the City of London financial district, in London, Britain, January 26, 2023. "U.K. economic activity appears to have slowed further, the housing market is weaker, consumer spending is falling, and inflationary pressure is showing further signs of dissipating. U.K. inflation came in at 6.7% in September , unchanged from the previous month and considerably higher than in other G7 economies. "The only way that we can rationalise this is if U.K. inflation remains stuck at 3% or higher forever, and/or the U.K. economy avoids a meaningful recession," he said. The European Central Bank last week held rates steady at their current record high of 4%, ending a run of 10 straight hikes.

Persons: Mike Riddell, BoE, Swati Dhingra, Riddell, Abbas Khan, Haskel, Mann, Dhingra, Catherine Mann, Allianz's Riddell Organizations: Bank of England, Allianz Global Investors, P, MPC, Bank, Monetary, LONDON, Barclays, U.S . Federal, Treasury, European Central Bank Locations: City, London, Britain, Israel

☆ Bank of England halts run of interest rate hikes as economy slows
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +4 min

A general view of the Bank of England (BoE) building, the BoE confirmed to raise interest rates to 1.75%, in London, Britain, August 4, 2022. A day after a surprise slowing in Britain's fast pace of price growth, the BoE's Monetary Policy Committee voted by a narrow margin of 5-4 to keep Bank Rate at 5.25%. "There are increasing signs of some impact of tighter monetary policy on the labour market and on momentum in the real economy more generally," the MPC said in a statement. The BoE's decision to pause its rate hikes came a day after the U.S. Federal Reserve also opted to keep borrowing costs on hold. Last week, the European Central Bank raised rates but suggested it might be the last for now.

Persons: BoE, Maja Smiejkowska, William Schomberg, Andy Bruce, Suban Abdulla, Jon Cunliffe, Megan Greene, Jonathan Haskel, Catherine Mann, Andrew Bailey, Bailey, BRITAIN BOE Organizations: Bank of England, REUTERS, MPC, U.S . Federal Reserve, European Central Bank, Thomson Locations: London, Britain

A day after Britain's fast pace of price growth unexpectedly slowed, the BoE's Monetary Policy Committee voted by the narrowest margin of 5-4 to keep Bank Rate at 5.25%. But rate futures suggested they still saw a 50% chance of Bank Rate rising to 5.5% by the end of this year. Britain's economy, hit hard by Brexit, the COVID-19 pandemic and the surge in gas prices triggered by Russia's invasion of Ukraine, has been struggling with the highest inflation rate in the Group of Seven. But growth remains fragile, heightening the risk that the BoE's 14 back-to-back rate hikes will push the economy into a recession. Last week, the European Central Bank raised rates but suggested its move might be the last for now.

Persons: Andrew Bailey, Jon Cunliffe, Megan Greene, Jonathan Haskel, Catherine Mann, BoE, Reuters Graphics Sterling, Bailey, Rishi Sunak, Peter Nicholls, Frances Haque, Reuters Graphics Bailey, Yael Selfin, Hugh Gimber, William Schomberg, Catherine Evans Organizations: Bank of England, Reuters Graphics, U.S ., MPC, REUTERS, Santander UK, IF, U.S . Federal Reserve, European Central Bank, KPMG, Investors, Bank of, Morgan Asset Management, Thomson Locations: Ukraine, London, Britain

Economists polled by Reuters last week forecast BoE rates would peak at 5.75% later this year. The BoE forecast inflation would fall to 4.9% by the end of this year - a faster decline than it had predicted in May. Wage rises had been a bigger driver of high inflation than companies' profit margins, the BoE said. The BoE forecast housing investment would fall 5.75% this year and 6.25% in 2024. (This story has been corrected to clarify that the unemployment rate forecast is for late 2025, not late 2024, in paragraph 17)Our Standards: The Thomson Reuters Trust Principles.

Persons: Hollie Adams, BoE, Andrew Bailey, Catherine Mann, Jonathan Haskel, Swati Dhingra, Rishi Sunak Organizations: Bank of England, City of, REUTERS, U.S . Federal Reserve, European Central Bank, Reuters, MPC, Markets, Thomson Locations: City, City of London, Britain

☆ Bank of England to press on with rate hikes, peak at 5.00% in Q3
▼ + stars: | 2023-06-14 | by ( Jonathan Cable | ) www.reuters.com time to read: +4 min

In December 2021 the BoE was one of the first major central banks to draw a line under its ultra-loose pandemic-era monetary policy. It has now raised borrowing costs by 440 basis points across 12 consecutive meetings in modest-sized rate rises. All 64 economists polled June 12-14 said the BoE would add another 25 basis points to Bank Rate on June 22, taking it to 4.75%. A majority of economists surveyed, 52 of 64, said Bank Rate will have peaked by end-August with the median forecast putting it at 5.00%. Although starting later, both the Fed and the European Central Bank have largely been raising rates in greater magnitudes than the BoE.

Persons: BoE, Ellie Henderson, BoE Governor Andrew Bailey, Jonathan Haskel, Catherine Mann, Megan Greene, Silvana Tenreyro, Stefan Koopman, Investec's Henderson, Jonathan Cable, Aditi Verma, Anitta Sunil, Ross Finley, Catherine Evans Organizations: Bank of England, Monetary, Committee, Rabobank, U.S . Federal, Fed, European Central Bank, Reuters, Thomson Locations: Investec

☆ Bank of England can't rule out more rate rises, MPC's Haskel says
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +1 min

LONDON, June 12 (Reuters) - The Bank of England may need to raise interest rates more than once from their current level of 4.5% to bring inflation under control, Monetary Policy Committee member Jonathan Haskel said on Monday. "My own view is that it's important we continue to lean against the risks of inflation momentum, and therefore that further increases in interest rates cannot be ruled out," Haskel wrote in an article for The Scotsman newspaper. "As difficult as our current circumstances are, embedded inflation would be worse," he added. "We are monitoring indicators of inflation momentum and persistence closely," Haskel said on Monday. Reporting by David Milliken; Editing by Sachin Ravikumar and Kylie MacLellanOur Standards: The Thomson Reuters Trust Principles.

Persons: Jonathan Haskel, Haskel, BoE, David Milliken, Sachin Ravikumar, Kylie MacLellan Organizations: Bank of England, Monetary, Scotsman, Reuters, Thomson Locations: Washington

LONDON, June 12 (Reuters) - Central banks like the Bank of England will find it hard to communicate the end of their rate-tightening cycle and should not sweat over this at the expense of taking steps to bring down inflation, BoE policymaker Catherine Mann said on Monday. "Fine-tuning is something that monetary policy is not very good at if the ultimate objective is to focus on inflation," Mann said at an event hosted by U.S. political strategists Signum Global Advisors. Many economists, by contrast, expect the BoE to stop sooner - or if not, to pause to assess the impact of the rapid series of rate rises. "Inflation expectations, in fact, are on the downswing even as some of these core and services prints have been more robust than we would have hoped for," Mann said. Economic activity had also continued to grow modestly and in line with expectations, Mann added.

Persons: BoE policymaker Catherine Mann, Mann, Signum, BoE, Jonathan Haskel, it's, David Milliken, Suban Abdulla, William James, Andrea Ricci Organizations: Bank of England, Signum Global Advisors, Bank of Canada, Monetary, MPC, Thomson Locations: Central, Britain, United States

☆ Bank of England to take Bank Rate to 5.00% next quarter as inflation proves sticky - Reuters poll
▼ + stars: | 2023-05-31 | by ( Jonathan Cable | ) www.reuters.com time to read: +3 min

British government bond prices tumbled in the days after the data was released as investors added to bets high inflation will force the BoE to carry on raising interest rates, while lenders have been withdrawing mortgage deals. Meanwhile, 27 of 47 saw Bank Rate at 5.00% or higher by end-September. Bank Rate was seen sitting at 5.00% until early next year, hitting the wallets of indebted consumers already feeling the pinch from a cost of living crisis. All but three of 39 common contributors to this poll and the last one lifted their year-end prediction. The Bank needs to push back against the risk high inflation proves unexpectedly sticky, and may need to raise interest rates further, Monetary Policy Committee member Jonathan Haskel said last week.

Persons: BoE, Simon Wells, Kallum Pickering, Jonathan Haskel, Jonathan Cable, Mumal Rathore, Anitta Sunil, Ross Finley, Chizu Organizations: Bank of England, of England, HSBC, Bank, Monetary, Thomson Locations: Berenberg

☆ Bank of England to take Bank Rate to 5.00% next quarter as inflation proves sticky, Reuters poll shows
▼ + stars: | 2023-05-31 | by ( Jonathan Cable | ) www.reuters.com time to read: +3 min

☆ Morning Bid: Rehash on rates ahead as ECB, BOE and Fed speak
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +2 min

[1/2] Flowers are seen outside the Bank of England in the City of London financial district in London, Britain May 11, 2023. REUTERS/Henry NichollsA look at the day ahead in European and global markets from Vidya RanganathanSeveral key central bankers, including Fed Chair Jerome Powell, appear at a variety of events today, ensuring investors have plenty of commentary, and nearly similar synopses. The messaging from the BOE after last week's 12th rate rise has been consistent: It isn't done, the labour market is tight, quantitative tightening might even pick up pace. Wall Street, Treasury yields, implied U.S. interest rates and the dollar all rose on Thursday. G7 leaders kicked off a three-day summit in Hiroshima on Friday, and the focus there is on fresh sanctions against Russia and what they say about China.

☆ Bank of England policymakers consider 12th straight rate hike
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +3 min

LONDON, May 2 (Reuters) - The Bank of England is weighing up whether to raise interest rates for the 12th meeting in a row next week as it continues to grapple with an inflation rate that remains above 10%, higher than in any other big, rich economy. Following is a summary of recent comments by members of the Monetary Policy Committee. If they become evident, further monetary tightening would be required. JON CUNLIFFE, DEPUTY GOVERNORHas not commented on monetary policy in recent months. MPC MEMBERS WHO VOTED IN MARCH TO STOP RAISING RATESSILVANA TENREYRO, EXTERNAL MPC MEMBERApril 14: "We need to be patient (to see the effects of past rate increases).

☆ Nikki Haley heads to fundraiser hosted by Wall Street executives
▼ + stars: | 2023-02-24 | by ( Brian Schwartz | ) www.cnbc.com time to read: +4 min

Nikki Haley, a Republican who jumped into the 2024 presidential race this month, is set to attend a fundraising event for her campaign hosted by Wall Street executives in New York on Tuesday, according to an invitation first reviewed by CNBC. The Tuesday fundraiser for Haley's campaign is one of her first trips to New York as a candidate for president. Morning Consult's GOP primary tracker shows Haley has 6% of support from potential Republican voters. Former President Donald Trump garners support from about 50% of GOP primary voters, according to Morning Consult. Finance executives have played key fundraising roles for political campaigns of both parties for well over a decade.

☆ Be 'really, really careful' on inflation - Bank of England's Haskel
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: 1 min

LONDON, Feb 13 (Reuters) - Bank of England interest rate-setter Jonathan Haskel said the BoE should be "really, really careful" about the risk of high inflation becoming embedded and he would watch data closely in the coming months given the high levels of uncertainty. "What I would prefer to do is make policy with much more attention on the data flow over the next few months," Haskel said in an interview published by website The Overshoot on Monday. Haskel, an external member of the Monetary Policy Committee, said last week he remained ready to "act forcefully" against persistent inflation, a phrase dropped by the majority of his colleagues earlier this month. Writing by William Schomberg, Editing by Kylie MacLellanOur Standards: The Thomson Reuters Trust Principles.

Last week, Bailey signalled the tide was turning on inflation, even if it was too soon to declare victory. We have got the largest upside skew in our forecasts that we have ever had on inflation," Bailey said. Haskel aligned himself with Catherine Mann who also sees big upside risks to the BoE's price forecasts. By contrast, Tenreyro said the full force of the BoE's rate hikes over the last year had yet to be felt, with economic momentum already fading. "It's crucial to see it through, that we do enough to address potential upside risks to inflation," he said.

By contrast, the median forecast for a similar poll on the U.S. Federal Reserve is exactly where futures currently price the Fed's terminal rate next year - 5.0%. Any reversion of terminal rate pricing to consensus or below could see the pound wobble again. "That said, we have been stressing downside risks to our terminal rate projection, given the constant dovish messaging from the MPC. BoE poll question on Terminal Rate Risks? Central Bank Rate Hike CampaignSterling volatilityThe opinions expressed here are those of the author, a columnist for Reuters.

☆ BoE should stand firm on inflation despite economic slowdown-Haskel
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +1 min

LONDON, Nov 11 (Reuters) - Bank of England interest rate-setter Jonathan Haskel said signs of a slowdown in Britain's economy did not imply a need for less tightening of monetary policy and the central bank should "stand firm" against the risk of persistent inflation pressure. "The concern for me is the risk that if price rises become embedded, monetary policy would have to be tighter for longer, prolonging a UK recession," he said. Therefore, right now, I believe it important for monetary policy to stand firm against the risk of persistent inflationary pressure." Haskel was one of seven members of the BoE's Monetary Policy Committee who voted last week for a 75 basis-point increase in Bank Rate, the biggest increase in borrowing costs by the central bank since 1989. Writing by William Schomberg; editing by Sarah YoungOur Standards: The Thomson Reuters Trust Principles.

☆ Morning Bid: Confusion reigns
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +4 min

Then BoE chief Andrew Bailey said late Tuesday: "You've got three days left now. You've got to get this done" - even as the Financial Times reported the central bank might extend the support. The tension built with Britain's economy looking set to go into recession as data showed it unexpectedly shrank in August. "The worst is yet to come, and for many people, 2023 will feel like a recession," said IMF chief economist Pierre-Olivier Gourinchas. * G20 finance ministers and central bankers meet at annual IMF/World Bank meeting in Washington* Bank of England Financial Policy Committee publishes summary of latest meeting.

☆ Sterling choppy as BoE sends mixed messages
▼ + stars: | 2022-10-12 | by ( Samuel Indyk | ) www.reuters.com time to read: +3 min

By 0746 GMT, the British pound was up 0.1% against the dollar to $1.0969, snapping five days of losses. Until the market gets that I think any Sterling rallies are ripe to be sold into," Brown added. "Further rises in Bank Rate are warranted," Lloyds Bank senior economist Hann-Ju Ho said in a note, even as he expects the economy to contract in the third quarter. Looking ahead, the BoE's Financial Policy Committee is scheduled to publish its latest financial policy summary and record at 0930 GMT. Meanwhile, BoE policy makers Jonathan Haskel (0800 GMT), Huw Pill (1135 GMT) and Catherine Mann (1700 GMT) are all scheduled to speak later in the day.

Finance minister Kwasi Kwarteng's plans will require an extra 72 billion pounds ($79 billion) of government borrowing over the next six months alone, and - a particular concern for investors - cement permanent tax cuts costing 45 billion pounds a year. But to bond investors, they bring the prospect of more persistent inflationary pressures - at a time when inflation is already near a 40-year high - as well as tighter Bank of England (BoE) policy. Government borrowing is likely to total 218 billion pounds this financial year and 229 billion pounds in 2023/24, Citi predicted, and it expects benchmark 10-year British government bond yields to rise to 4.25%. Adding to the pressure, on Thursday the BoE confirmed it planned to reduce its own 838 billion pounds of gilt holdings by 80 billion pounds over the coming year. "That is a strong indication that domestic and overseas investors are losing confidence in the UK's inflation-fighting credibility," he said.

☆ Bank of England's Haskel says he is not worried by sterling
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +1 min

British pound banknote is displayed on U.S. Dollar banknotes in this illustration taken, February 14, 2022. REUTERS/Dado Ruvic/IllustrationLONDON, Sept 22 (Reuters) - Bank of England policymaker Jonathan Haskel said he was not very concerned about the level of sterling, after being challenged about the currency's weakness. Currencies go up, currencies go down," Haskel said in response to a question during a panel discussion at London's North Western Reform Synagogue. Haskel added that the quality of a country's institutions was the most important thing in ensuring investor confidence. Register now for FREE unlimited access to Reuters.com RegisterReporting by David Milliken; Editing by Sachin RavikumarOur Standards: The Thomson Reuters Trust Principles.

☆ Bank of England raises rates to 2.25%, despite likely recession
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +3 min

A general view of the Bank of England (BoE) building, the BoE confirmed to raise interest rates to 1.75%, in London, Britain, August 4, 2022. REUTERS/Maja SmiejkowskaLONDON, Sept 22 (Reuters) - The Bank of England raised its key interest rate to 2.25% from 1.75% on Thursday and said it would continue to "respond forcefully, as necessary" to inflation, despite the economy entering recession. However, it noted that the energy price cap, while reducing inflation in the short term, would boost pressures further out. Before the rate decision, financial markets expected the BoE to raise rates to 3.75% by the end of the year, with a peak of 5% reached in mid-2023. Less than a year ago, BoE rates were at a record-low 0.1%.

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