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☆ King Charles III will return to public duties next week
▼ + stars: | 2024-04-26 | by ( Lauren Said-Moorhouse | ) edition.cnn.com time to read: +5 min

London CNN —Britain’s King Charles III will resume public duties next week following “a period of treatment and recuperation,” Buckingham Palace announced Friday, two months after revealing that he was being treated for cancer. But the palace spokesperson did clarify that Charles was not expected to carry out a full summer program. Charles’ last public appearance was on Easter Sunday when he went to church in Windsor with several family members. Throughout his treatment, the King has continued to carry out his constitutional duties, receiving his daily red boxes and paperwork. Charles announced his cancer diagnosis and that he would step back from public-facing duties while undergoing treatment in early February.

Persons: London CNN — Britain’s King Charles III, ” Buckingham, Queen Camilla, Naruhito, Masako, King, Millie Pilkington, Camilla, couturier Fiona Clare, “, ” King Charles III, George's, Hollie Adams, Charles, Charles ’, Rishi Sunak’s, Charles ’ rubberstamping, Benjamin Key, Catherine , Princess of Wales, Kate, Prince Louis ’, Prince William, Princess Anne, Prince Edward, Prince, Wales Organizations: London CNN, “, Westminster Abbey, Easter, CNN, St, CNN’s Royal, Naval Staff Locations: British, London, Buckingham Palace, Normandy, St, Windsor , England, Windsor, George’s, Rwanda, West Midlands

☆ Most people on weight loss drugs are spending less on restaurants and takeout, survey says
▼ + stars: | 2024-04-20 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

Most people taking those medications, called GLP-1s, say they are spending less on eating out at restaurants and ordering takeout, according to a Morgan Stanley survey released on Tuesday. GLP-1s include Novo Nordisk 's blockbuster weight loss injection Wegovy and diabetes counterpart Ozempic, along with Eli Lilly 's popular weight loss treatment Zepbound and diabetes injection Mounjaro. "There is growing evidence that the drugs have a meaningful impact on consumer behavior and spending on groceries and restaurants," Morgan Stanley analysts said in the survey. Those people are "early in their weight loss journey," but are making substantial changes to their diets and spending, according to the firm. Roughly half of people reported cutting consumption of regular sodas, alcohol and salty snacks by 50% or more since starting on weight loss drugs.

Persons: —, Morgan Stanley, Eli Lilly, Hollie Adams, Reuters Morgan Stanley, Morgan Stanley survery Organizations: Washington Post, Novo Nordisk, Reuters, Consumers Locations: Manhattan, London, Britain

☆ Europe must be more assertive ahead of uncertain U.S. election, Macron says
▼ + stars: | 2024-01-17 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Emmanuel Macron, France's president, delivers a special address on day two of the World Economic Forum (WEF) in Davos, Switzerland, on Wednesday, Jan. 17, 2024. Photographer: Hollie Adams/Bloomberg via Getty ImagesFrench President Emmanuel Macron said Wednesday that Europe must be more assertive on the world stage as it confronts an uncertain future for its relations with the U.S. In a possible nod toward the potential re-election of Donald Trump, Macron said that Europe should charge its own path on consequential issues rather than relying too closely on its ally across the Atlantic. Central to those issues are the conflicts in Ukraine and the Middle East, as well as the climate transition, Macron said. Though absent from Davos this year, Trump's potential reelection has been a key topic of conversation at the Alpine resort after he won the Iowa caucuses on Monday.

Persons: Emmanuel Macron, Hollie Adams, Donald Trump, Macron, Republicans — Trump, —, Trump Organizations: Economic, Bloomberg, Getty Images, U.S, Republicans Locations: Davos, Switzerland, Europe, United States, Ukraine, U.S, Iowa

☆ OpenAI Bans Use of AI Tools for Campaigning, Voter Suppression
▼ + stars: | 2024-01-15 | by ( Asa Fitch | ) www.wsj.com time to read: 1 min

OpenAI Chief Executive Sam Altman at the World Economic Forum in Switzerland on Monday. Photo: Hollie Adams/Bloomberg NewsOpenAI outlined limits on using its tools in politics during the run-up to elections in 2024, amid mounting concern that artificial-intelligence systems could mass-produce misinformation and sway voters in high-profile races. OpenAI’s ChatGPT and Dall-E are some of the most powerful AI chatbot and image-generation applications available. The growth of such tools has raised worry that software made by OpenAI and its peers could be used to manipulate voters with false news stories and computer-generated images and video.

Persons: Sam Altman, Hollie Adams, OpenAI’s ChatGPT Organizations: Economic, Bloomberg, OpenAI Locations: Switzerland

☆ IMF warns AI to hit almost 40% of jobs worldwide and worsen overall inequality
▼ + stars: | 2024-01-15 | by ( Sam Meredith | ) www.cnbc.com time to read: +3 min

The IMF noted that about 60% of jobs could be impacted by AI in high-income nations, and roughly half of these may benefit from AI integration to boost productivity. Comparatively, AI exposure was estimated to come in at 40% in emerging markets and at 26% in low-income countries, respectively. The findings suggest that emerging markets and low-income countries face fewer disruptions from AI in the short-term. The IMF also flagged that AI could affect income and wealth inequality within countries, warning of "polarization within income brackets." The IMF report comes as business and political leaders from around the world gather at the World Economic Forum in Davos, Switzerland.

Persons: Hollie Adams, Kristalina Georgieva, Georgieva, Goldman Sachs, WEF Organizations: Economic, Bloomberg, Getty, Monetary Fund, D.C, IMF Locations: Davos, Switzerland, The Washington

☆ Surprising Things About London From a Local That Now Lives in NYC
▼ + stars: | 2024-01-13 | by ( Maria Noyen | ) www.businessinsider.com time to read: 1 min

Traveling into central London from Heathrow is much more straightforward than getting into Manhattan from JFK. London's Heathrow Airport. Hollie Adams/Getty ImagesI usually fly into London Heathrow when I go back to the UK. From the airport to the city center, travelers can choose between taking a taxi, the London Underground (also known as the tube), or the Heathrow Express, a high-frequency rail link between the airport and the city. Meanwhile, there are no direct public transportation routes from where I live in Manhattan to JFK, which is the airport I usually fly out of.

Persons: Hollie Adams Organizations: London Heathrow, London, Heathrow Locations: London, Heathrow, Manhattan, JFK

☆ Bank of England set to hold interest rates as economists debate 2024 cuts
▼ + stars: | 2023-12-13 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

A passageway near the Bank of England (BOE) in the City of London, U.K., on Thursday, March 18, 2021. The market is pricing an almost 100% chance of a hold on Thursday, according to LSEG, with economic data since the Bank's last meeting proving largely inconclusive. The latest labor market data on Tuesday indicated a continuation of recent trends, with unemployment remaining broadly flat and vacancies continuing to decline at pace. Average pay including bonuses fell by 1.6% between September and October, versus an average monthly growth rate of 1.1% in the first half of the year. "An unchanged forward guidance will also serve the MPC well to push against the current market pricing of Bank Rate which assigns an increasing probability to cuts in H1 2024," they said.

Persons: BOE, Hollie Adams, Jake Finney, Finney, Abbas Khan, Jack Organizations: Bank of England, City of, Bloomberg, Getty, Monetary, Federal Reserve, Reuters, Bank, Barclays, MPC Locations: City, City of London

☆ ‘It’s game on’: The world’s largest iceberg is on the move. Scientists explain why it matters
▼ + stars: | 2023-12-06 | by ( Sam Meredith | ) www.cnbc.com time to read: +6 min

"It's just astonishingly big and it's a reminder of how much risk we're at from sea level rise." "Antarctica has historically been quite a small contributor to sea level rise, but it is growing, and it is taking up a bigger and bigger share of the sea level rise that we see every year," he added. "So, it's a symbol of the growing dominance of Antarctica in the sea level rise equation." This temperature threshold is widely recognized as crucial because so-called tipping points become more likely beyond this level. Tipping points are thresholds at which small changes can lead to dramatic shifts in Earth's entire life support system.

Persons: Robbie Mallett, A23a, Mallett, Mallet, That's, Gail Whiteman, Taalas, Hollie Adams, NASA Modis Organizations: United Arab Emirates, Continent, University of College London, CNBC, United, NASA, World Meteorological Organization, University of Exeter, WMO, Expo, Bloomberg, Getty Images Bloomberg, Getty Locations: DUBAI, United Arab, Antarctica, New York City, United Arab Emirates, South Georgia, Dubai, COP28, Green

☆ Adam Driver on biopic 'Ferrari': 'the pressure was on to get it right'
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

[1/5] Cast member Adam Driver arrives for the red carpet of the London Premiere of the film 'Ferrari' in London, Britain, December 4, 2023. REUTERS/Hollie Adams Acquire Licensing RightsLONDON, Dec 4 (Reuters) - American actor Adam Driver once again puts on an Italian accent in his latest film, playing carmaker Enzo Ferrari in a new biopic directed by veteran Michael Mann. Driver, who played Italian fashion scion Maurizio Gucci in "House of Gucci", takes on the lead role, with Spanish actress Penelope Cruz playing Ferrari's wife, Laura. "So the pressure ... was on to kind of get it right." The film's cast also includes U.S. actress Shailene Woodley as Lina Lardi, Ferrari's mistress and the mother of his surviving son, Piero, and U.S. actor Patrick Dempsey, who portrays Italian racing driver Piero Taruffi.

Persons: Adam Driver, Hollie Adams, carmaker Enzo Ferrari, Michael Mann, Ferrari, Maurizio Gucci, Gucci, Penelope Cruz, Ferrari's, Laura, Driver, Shailene Woodley, Lina Lardi, Piero, Patrick Dempsey, Piero Taruffi, " Mann, Marie, Louise Gumuchian, Sandra Maler Organizations: London, REUTERS, Italy, Reuters, Venice Film, Thomson Locations: London, Britain, Modena, Italy, Italian, Spanish, Mille, Venice

☆ UK's Hunt says he hopes to reverse public investment freeze
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

[1/2] British Chancellor of the Exchequer Jeremy Hunt speaks at the Resolution Foundation, in London, Britain December 4, 2023. REUTERS/Hollie Adams Acquire Licensing RightsLONDON, Dec 4 (Reuters) - British finance minister Jeremy Hunt said on Monday that he hoped in future to reverse the decline in public investment which is forecast in the government's latest budget plans. "I don't think you want declining public investment. And I very much hope we'll be able to get back into a place where we don't have to do that," Hunt said at an event hosted by the Resolution Foundation think tank. In government budget forecasts published last month, British public sector net investment is forecast to fall steadily from 2.6% of gross domestic product in the current financial year to 1.8% in the 2028/29 financial year.

Persons: Jeremy Hunt, Hollie Adams, we'll, Hunt, Keir Starmer, David Milliken, Kate Holton Organizations: REUTERS, Labour Party, Labour, Thomson Locations: London, Britain, British

☆ Rift Over Fossil Fuels to Dominate COP28
▼ + stars: | 2023-12-01 | by ( Stacy Meichtry | Matthew Dalton | ) www.wsj.com time to read: 1 min

Leaders from the United Arab Emirates, the host of COP28, on the opening day of the summit in Dubai. Photo: Hollie Adams/Bloomberg NewsDUBAI—World leaders gathered for climate talks in this oil-rich corner of the globe amid sharp divisions over how quickly governments need to wean their economies off fossil fuels to prevent the planet from blowing past the Paris accord’s temperature targets. Vice President Kamala Harris was expected to join Brazilian President Luiz Inácio Lula da Silva , French President Emmanuel Macron and a host of leaders from across the Gulf region Friday at the start of a two-day summit to kick off the United Nations’ annual climate talks, known as COP28.

Persons: Hollie Adams, Kamala Harris, Luiz Inácio Lula da Silva, Emmanuel Macron Organizations: United Arab Emirates, Bloomberg News DUBAI —, Brazilian, United Nations Locations: Dubai, Paris, Gulf

A pedestrian carrying an umbrella walks along the River Thames in view of City of London skyline in London, Britain, July 31, 2023. Finance executives, consultants and headhunters interviewed by Reuters predict subdued deal flows, modest bonuses for most and heavy job cuts in 2024. "2023 will ultimately be one of the lowest corporate finance fee pools in modern history," said Fabrizio Campelli, head of Corporate Bank and Investment Bank at Deutsche Bank. JOB CUTSBanks have already turned to cost cuts to try to weather the downturn, which in a people-intensive business means job losses. And although some bankers expect a tough 2024, others sense an opportunity for European banks from the Basel Endgame.

Persons: Hollie Adams, Fabrizio Campelli, Banks, Ronan O'Kelly, Oliver Wyman, O'Kelly, Dominic Hook, Goldman Sachs, Vis Raghavan, JP Morgan, Morgan McKinley's, Stephane Rambosson, headhunter, Rambosson, Ana Botin, Morgan's Raghavan, there's, Oliver Wyman's O'Kelly, Deutsche's Campelli, Anousha Sakoui, Carolyn Cohn, Jesus Aguado, Alexander Smith Organizations: REUTERS, LONDON, Finance, Reuters, Corporate Bank, Investment Bank, Deutsche Bank, Organisation for Economic Cooperation, Development, Barclays, Lloyds, Challenger Metro Bank, UBS UBSG.S, Citi, Workers, Global Investment Banking, Employment, European Union, Santander, Global, Basel, Thomson Locations: City, London, Britain, Europe, Middle East, Africa, Ukraine, West, China, United States, India, Madrid

☆ Tens of thousands join pro-Palestinian march in central London
▼ + stars: | 2023-11-25 | by ( ) www.reuters.com time to read: +2 min

[1/6] Demonstrators gather in Park Lane to protest in solidarity with Palestinians in Gaza, during a temporary truce between Palestinian Islamist group Hamas and Israel, in London, Britain, November 25, 2023. REUTERS/Hollie Adams Acquire Licensing RightsLONDON, Nov 25 (Reuters) - Tens of thousands of pro-Palestinian protesters marched through central London on Saturday to call for a permanent ceasefire in the Gaza Strip, the latest in a series of similar weekend demonstrations in the capital since the seven-week war began. "We need full support for a permanent ceasefire in Gaza," protester Kate Hudson, 64, told Reuters at the rally as demonstrators carrying signs such as "Ceasefire Now!" and "Stop the War on Gaza" walked peacefully along the march route towards the Houses of Parliament. Reporting by Muvija M and Natalie Thomas Editing by Helen PopperOur Standards: The Thomson Reuters Trust Principles.

Persons: Hollie Adams, Saturday's, Kate Hudson, Hudson, Suella Braverman, Rishi Sunak, Muvija M, Natalie Thomas, Helen Popper Our Organizations: Hamas, REUTERS, Reuters, Police, London's Metropolitan Police, Israel, Thomson Locations: Park Lane, Gaza, Israel, London, Britain, Palestinian

☆ OpenAI had a confusing week. Who came out on top? And who lost out?
▼ + stars: | 2023-11-22 | by ( Brian Fung | ) edition.cnn.com time to read: +6 min

But in other ways, the agreement is still a watershed moment for OpenAI and the artificial intelligence field writ large. Who came out on topSam Altman: A clear winner in the whole debacle is, of course, Altman himself. With some of the apparent architects of Altman’s ouster being pushed out themselves, a casualty of the affair may be the perspectives that those board members espoused. Emmett Shear, whom the board named OpenAI’s interim CEO for all of two days, has also expressed similar worries. In the fallout of the leadership crisis, some have argued that the outcome is also a defeat for effective altruism, the movement with which some OpenAI board members are said to be affiliated.

Persons: Sam Altman, Altman, bungled, that’s, Satya Nadella, OpenAI, Nadella, we’re, ” Nadella, Bret Taylor, Larry Summers, Nathan Laine, Hollie Adams, Taylor isn’t, He’s, Elon Musk, Summers, Who, OpenAI’s, Gabby Jones, Emmett Shear Organizations: CNN, Microsoft, Bloomberg, Getty, Facebook, Twitter, Harvard University Locations: OpenAI, Brooklyn, New York

[1/5] Cast members Corey Hawkins, Taraji P. Henson, Director Blitz Bazawule, and cast members Danielle Brooks, Fantasia Barrino and Colman Domingo attend the new musical adaptation of 'The Color Purple' in London, Britain, November 20, 2023. REUTERS/Hollie Adams Acquire Licensing RightsLONDON, Nov 20 (Reuters) - The cast of the 2023 movie adaptation of "The Color Purple" said that it was important for them to retell the classic story in a new way as they walked the red carpet on Monday for the London premiere. "The biggest thing for me was just making sure that we can justify our reason for contributing to the canon of 'The Color Purple,'" Bazawule told Reuters on the red carpet. "The Color Purple" follows the story of two Black American teenage sisters, Celie and Nettie, in the American south during the early 1900s. The 2023 film, which arrives in theaters on Dec. 25 and is distributed by Warner Bros Pictures, stars Fantasia Barrino as Celie and Ciara as Nettie.

Persons: Corey Hawkins, Taraji P, Henson, Danielle Brooks, Fantasia Barrino, Colman Domingo, Hollie Adams, Blitz Bazawule, Marcus Gardley, Alice Walker, Whoopi Goldberg, Bazawule, Celie, Nettie, Ciara, Taraji, Shug Avery, Oprah Winfrey, Steven Spielberg, Quincy Jones, Natasha Mulenga, Danielle Broadway, Rosalba O'Brien Organizations: REUTERS, London, Globe, Reuters, Warner Bros Pictures, Thomson Locations: London, Britain, American, Ghanaian, Los Angeles

About a mile away from the start of the march, about 1,000 people lined the streets to watch the remembrance events at the Cenotaph war memorial. Among the crowd, some right-wing counter-protesters opposed to the pro-Palestinian march chanted messages including "We want out country back". DISRESPECTFULSunak has criticised the pro-Palestinian rally as disrespectful amid concerns it could spark violence. There has been strong support and sympathy for Israel from Western governments, including Britain's, and many citizens over the Hamas attacks. But the Israeli response has also prompted anger, with weekly protests in London demanding a ceasefire.

Persons: Hollie Adams, Laurence Taylor, Rishi Sunak, Sunak, Suella Braverman, Taylor, I've, Michael Holden, Hannah McKay, Sarah Young, Ed Osmond, Helen Popper Our Organizations: Hamas, REUTERS, Government, Cenotaph . Police, Charing, Palestine Solidarity Campaign, PSC, U.S, Embassy, Thomson Locations: Gaza, Israel, Palestinian, London, Britain, Palestine, Waterloo, Victoria, Downing, Western

☆ Don't confuse customers over stablecoins, Bank of England warns lenders
▼ + stars: | 2023-11-06 | by ( Huw Jones | ) www.reuters.com time to read: +3 min

A pedestrian walks past the Bank of England in the City of London, Britain, September 25, 2023. REUTERS/Hollie Adams/File Photo Acquire Licensing RightsCompanies Bank of England FollowLONDON, Nov 6 (Reuters) - The Bank of England told lenders on Monday that they must avoid any risk that customers might confuse new forms of e-money like 'stablecoins' with standard deposits which are guaranteed against bank failures. Stablecoins are a cryptocurrency backed by a traditional currency such as sterling or the U.S. dollar, or an asset. To the extent that systemic payment systems using stablecoins pose similar risks as other systemic payment systems, they should be subject to equivalent regulatory standards, the BoE said. There are no systemic sterling stablecoins, but Tether, issuer of the world's largest stablecoin, pegged to the U.S. dollar and backed by assets including U.S. government debt, said last year it would launch a sterling stablecoin.

Persons: Hollie Adams, BoE, stablecoins, Sheldon Mills, David Milliken, Tom Wilson, Kylie MacLellan, Kirsten Donovan, Bernadette Baum Organizations: Bank of England, City of, REUTERS, Companies Bank of England, U.S ., Financial, European, Thomson Locations: City, City of London, Britain

☆ Siemens loses London lawsuit over 2 bln stg HS2 contract
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

[1/2] A HS2 high-speed rail logo is displayed on a fence surrounding a construction site at Euston in London, Britain, July 30, 2023. REUTERS/Hollie Adams/File Photo Acquire Licensing RightsLONDON, Nov 6 (Reuters) - Siemens (SIEGn.DE) on Monday lost a legal challenge over a 2 billion pound ($2.48 billion) contract to build a fleet of new trains for Britain's beleaguered HS2 high-speed rail project. HS2 said the contract, which includes a 12-year maintenance and services deal, was worth around 2 billion pounds when it was awarded. But Judge Finola O'Farrell dismissed Siemens' case on Monday, saying in a written ruling that Siemens had not established the contract was awarded unlawfully and the company was therefore "not entitled to any damages". Monday's ruling is a rare piece of good news for the controversial HS2 project, which was originally planned to link London to the north of England from 2026.

Persons: Hollie Adams, HS2, Finola O'Farrell, Rishi Sunak, Sam Tobin, Kirsten Donovan Organizations: REUTERS, Siemens, Siemens Mobility, HS2, Bombardier Transportation, France's Alstom, Hitachi, Alstom, British, Thomson Locations: Euston, London, Britain, England, Manchester, Birmingham

A general view of the Bank of England in the City of London, Britain, September 25, 2023. In making that call the BoE report focuses mostly on consumption, which it estimates makes up about 60% of GDP. As a result, the BoE expects the fallout from rate moves to date to "grow over time" even if one-off quarterly hits have peaked. And whatever the slow-burning hit to growth and consumption, inflation surprises could well change the increasingly comfortable markets picture. BOE chart on GDP outlookBOE chart on consumption hit from rate risesReuters Graphics Reuters GraphicsThe opinions expressed here are those of the author, a columnist for Reutersby Mike Dolan X: @reutersMikeD; editing by David EvansOur Standards: The Thomson Reuters Trust Principles.

Persons: Hollie Adams, Huw Pill, what's, BoE, Modupe Adegbembo, Andy Burgess, BOE, Mike Dolan, David Evans Organizations: Bank of England, City of, REUTERS, Bank, Reuters, AXA Investment Managers, Thomson Locations: City, City of London, Britain, British

☆ Orsted cancels two New Jersey offshore wind projects, takes $4 billion writedown
▼ + stars: | 2023-11-01 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +1 min

Photographer: Hollie Adams/Bloomberg via Getty ImagesThe Danish wind power developer Orsted is canceling two off-shore wind projects that were planned off the coast of New Jersey and is taking a $4 billion impairment for the first nine months of the year, the company announced this week. Of the $4 billion writedown, $2.8 billion was connected to the Ocean Wind 1 project, Orsted said. The Ocean Wind 1 project would have been New Jersey's first offshore wind farm and would have generated enough electricity to power half a million homes, according to a website about the project. It was going to include 98 turbines located 15 miles off the coast of southern New Jersey. The similarly sized Ocean Wind 2 project was also going to be located off the southern New Jersey shore and was due to start in 2028, according to a website about the project.

Persons: Mads Nipper, Hollie Adams, Orsted Organizations: Economic, Bloomberg, Getty Locations: Davos, Switzerland, New Jersey

☆ Elon Musk and Sam Altman are expected to attend the UK's AI Safety Summit. Here's why it's taking place at a former top-secret WWII facility.
▼ + stars: | 2023-11-01 | by ( Pete Syme | ) www.businessinsider.com time to read: +5 min

The chosen location for the two-day conference has a special association with the man considered by many to be the father of modern computer science, Alan Turing. Before 1938, Bletchley Park was a mansion in the Buckinghamshire countryside built for a politician during the Victorian era. "What Alan Turing predicted many decades ago is now coming to fruition," she said, referring to his research into machine learning. "What happened at Bletchley Park eighty years ago opened the door to the new information age," Donelan said. Since then, men and women cautioned or convicted under historical homosexuality legislation were pardoned under what is known as the "Alan Turing law."

Persons: It's, Alan Turing, —, Elon Musk, Sam Altman, Kamala Harris, Rishi Sunak, Goldman Sachs, who's, Turing, Michelle Donelan, Connor Leahy, Hollie Adams, Lorenz, Donelan Organizations: Bletchley, Service, AI, Guardian, Google, University of Manchester, Trust, Getty, National Museum of Computing Locations: England, London, Bletchley, Buckinghamshire, Poland

☆ BoE likely to keep high rates on hold even as signs of slowdown mount
▼ + stars: | 2023-10-25 | by ( William Schomberg | ) www.reuters.com time to read: +4 min

The last Monetary Policy Committee meeting in September resulted in five members voting to pause, just outnumbering the four who sought another increase. So far, investors are not challenging the BoE's message that interest rates will stay high for a considerable period. BOE Chief Economist Huw Pill likened the outlook for monetary policy to the lofty, flat and long profile of Table Mountain during a visit to South Africa in late August. But economists expected little change in the BoE's previous forecasts that inflation will fall to 2% in two years' time. "Recent geopolitical events will probably induce a modicum of monetary policy caution, reinforcing the likelihood of unaltered policy settings," analysts at NatWest Markets said.

Persons: Hollie Adams, BoE, Andrew Bailey, James Smith, Smith, BOE, Huw Pill, Pill, Bailey, Rishi Sunak, Price, William Schomberg, Jonathan Oatis Organizations: Bank of England, City of, REUTERS, Reuters, ING, Investors, U.S . Federal, Monetary Fund, NatWest Markets, Thomson Locations: City, City of London, Britain, South Africa

☆ Britain scraps cap on banker bonuses inherited from EU
▼ + stars: | 2023-10-24 | by ( Huw Jones | ) www.reuters.com time to read: +4 min

A general view of the Bank of England in the City of London, Britain, September 25, 2023. REUTERS/Hollie Adams/File Photo Acquire Licensing RightsLONDON, Oct 24 (Reuters) - Britain on Tuesday scrapped a decade-old cap on banker bonuses inherited from the European Union, signalling a clear divergence in post-Brexit financial rules from the 27-country bloc it left in 2020. The BoE and Financial Conduct Authority proposed scrapping the cap in a public consultation earlier this year, and its abolition was confirmed in final policy published on Tuesday. The TUC confederation of labour unions said the decision to scrap the bonus cap was "obscene". Law firm Linklaters said scrapping the cap puts Britain back into line with the rest of the world, apart from the EU, but it would continue to apply to staff working at EU banks in London who are regulated under the bloc's rules.

Persons: Hollie Adams, BoE, Suzanne Horne, Paul Hastings, Paul Nowak, Linklaters, David Milliken, Iain Withers, Barbara Lewis, Mark Potter, Jonathan Oatis Organizations: Bank of England, City of, REUTERS, European Union, Financial, Authority, London, Finance, TUC, Britain, Thomson Locations: City, City of London, Britain, EU, London, New York, United States, Asia

☆ Moody's lifts UK's outlook to 'stable' on restoration of policy predictability
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Hollie Adams/File Photo Acquire Licensing RightsOct 20 (Reuters) - Ratings agency Moody's revised Britain's outlook to "stable" from "negative" on Friday, saying policy predictability has been restored after heightened volatility last year around the so-called "mini-budget" under then-Prime Minister Liz Truss. Moody's last changed its outlook on Britain one year ago, when Truss had spooked markets with unfunded tax pledges, culminating in her resignation. "Policy predictability has been restored after heightened volatility last year around the mini-budget," the ratings agency said, affirming the country's rating at "Aa3". The government borrowed 81.7 billion pounds ($99.35 billion) in the first half of the 2023/24 financial year, 15.3 billion pounds more than between April and September 2022, but about 20 billion pounds less than the government forecast in March. On Friday S&P affirmed its AA rating and stable outlook for Britain.

Persons: Hollie Adams, Moody's, Liz Truss, Truss, Rishi Sunak, Jeremy Hunt, Hunt, Poor's, Aatrayee Chatterjee, David Milliken, Alistair Smout, Shailesh Kuber, Daniel Wallis Organizations: REUTERS, Monetary Fund, Britain's, Conservative Party, Britain, Thomson Locations: City, London, Britain, Bengaluru

☆ UK's BBC, ITV among TV firms investigated over freelance contracts
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +1 min

The BBC logo is displayed above the entrance to the BBC headquarters in London, Britain, July 10, 2023. "ITV is committed to complying with competition law and to cooperating with the CMA's inquiries," it said in a statement. The probe also includes Hartswood Films, Red Planet Pictures and Sister Pictures, the CMA said. In July the regulator said it was investigating suspected breaches of competition law in relation to the purchase of services from freelancers in sports content by the BBC, BT Group, ITV, Sky UK and others. Reporting by Paul Sandle; Editing by Kate Holton and James DaveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Hollie Adams, Paul Sandle, Kate Holton, James Davey Organizations: BBC, REUTERS, ITV, Markets, CMA, Hartswood, Red Planet Pictures, Sister Pictures, BT Group, Sky, Thomson Locations: London, Britain

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