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The acceleration of the consumer price index from April's 1.5% largelyreflected how weak inflation was in May 2020 when the economy was reeling from its first tight lockdown. The figure represented the first time inflation has gone above the BoE's 2% target in almost two years and was above all 33 forecasts in a Reuters poll of economists which had pointed to a rise in inflation to 1.8%. The central bank is expected to leave policy unchanged on June 24 after its latest meeting. "But UK inflationary pressures are different - and nowhere as near as large - as those causing fierce debate in the U.S.," Leslie said. Reporting by William Schomberg and David Milliken; editing by Alistair SmoutOur Standards: The Thomson Reuters Trust Principles.
Persons: Andreas, Dylan Martinez, BoE, Joe Biden, Ambrose Crofton, Crofton, Jack Leslie, Leslie, Sterling, Andrew Bailey, Andy Haldane, William Schomberg, David Milliken, Alistair Smout Organizations: REUTERS, Bank of, Investors, Global, Morgan Asset Management, Bank of England, SIX, National Statistics, Thomson Locations: London, Britain, United States, U.S
The acceleration of the consumer price index from April's 1.5% largely reflected how weak inflation was in May 2020 when the economy was reeling from its first tight lockdown. "Whether the upside news proves temporary or persistent, it is clearly a hawkish surprise," HSBC economist Chris Hare said. But if the upside surprises continue, calls for a rate rise on the Monetary Policy Committee may grow louder." The central bank is expected to leave policy unchanged on June 24 after its latest meeting. "But UK inflationary pressures are different - and nowhere as near as large - as those causing fierce debate in the U.S.," Leslie said.
Persons: Andreas, Dylan Martinez, BoE, Joe Biden, Chris Hare, Jack Leslie, Leslie, Sterling, Andrew Bailey, Andy Haldane, William Schomberg, David Milliken, Alistair Smout Organizations: REUTERS, Bank of, Investors, HSBC, Monetary, SIX, National Statistics, ONS, Thomson Locations: London, Britain, United States, U.S
Biden says Queen Elizabeth asked about Putin and Xi
  + stars: | 2021-06-13 | by ( ) www.reuters.com + 0.00   time to read: +3 min
U.S. President Joe Biden said Britain’s Queen Elizabeth reminded him of his mother and that she had asked about China’s Xi Jinping and Russia’s Vladimir Putin as they had tea at Windsor Castle on Sunday. Anyway, she was very gracious," said the president who confirmed he had invited the monarch to the White House. 1/7 U.S. President Joe Biden and first lady Jill Biden walk next to Britain's Queen Elizabeth, at Windsor Castle in Windsor, Britain, June 13, 2021. REUTERS/Dylan Martinez Read MoreThe queen had already met the Bidens on their visit to Britain. Ahead of that, Jill Biden said they had been looking forward to meeting the queen and that it was an exciting part of the visit for them.
Persons: Joe Biden, Britain’s Queen Elizabeth, Xi, Russia’s Vladimir Putin, Biden, Putin, that's, Mr Putin, Xi Jinping, Jill, Jill Biden, Queen Elizabeth, Dylan Martinez Read, George W, Bush, Elizabeth, Lyndon Johnson, Prince Philip, Philip Organizations: Sunday, Seven, Battalion Grenadier Guards, U.S, National, House, REUTERS, Thomson Locations: Windsor, China, London, Britain, English, Cornwall, U.S
From blimps to Pikachus, protesters gather to demand G7 action
  + stars: | 2021-06-11 | by ( Michael Holden | ) www.reuters.com + 0.94   time to read: +2 min
From blimps of U.S. President Joe Biden and British Prime Minister Boris Johnson to activists dressed in Pikachu costumes, hundreds of protesters have targeted the G7 summit in southwest England to demand action on the climate, poverty and COVID-19. Their meeting has also provided an opportunity for campaign groups to highlight the issues they say the G7 must address. "That means they should stop hoarding and start sharing - sharing the money, doses and the tech to vaccinate the world; and deliver an historic green recovery deal." 1/20 Climate change activists dressed up as black birds protest in St. Ives, on the sidelines of G7 summit in Cornwall, Britain, June 11, 2021. "When talking about how local people feel about protesters, it's really important to remember that lots of protesters are local," Resist G7, an ad-hoc collection of about 20 activist organisations, said on Twitter.
Persons: Joe Biden, Boris Johnson, Johnson, Jamie Drummond, St . Ives, Dylan Martinez, it's Organizations: British, REUTERS, Dylan Martinez Read, Police, Twitter, Thomson Locations: England, Cornwall, United States, Japan, Italy, Germany, France, Canada, Carbis, St ., Britain
CMC doubles annual profit as trading volumes soar
  + stars: | 2021-06-10 | by ( ) www.reuters.com + 0.99   time to read: +1 min
Dealers work at their desks whilst screens show market data at CMC Markets in London, Britain, January 30, 2019. REUTERS/Dylan Martinez/File PhotoLondon-listed online trading platform CMC Markets (CMCX.L) said on Thursday annual profits more than doubledas volatility in financial markets last year drove strong trading volumes. CMC, which facilitates the trade of complex financial instruments, raised its targets multiple times this year as a retail trading frenzy on Wall Street fuelled volumes after the pandemic-driven swings last year. Its pretax profit rose to 224 million pounds ($315.91 million) for the year ended March 31 from 98.7 million pounds a year earlier. "The Group believes that existing active client levels are likely to be sustainable," CMC said, but pointed towards a moderation in trading activity from prior highs.
Persons: Dylan Martinez Organizations: CMC Markets, REUTERS, CMC, Rivals, Thomson Locations: London, Britain
REUTERS/Dylan Martinez/File PhotoBritish online trading group CMC Markets (CMCX.L) on Thursday set out plans to launch a wealth management platform, going head to head with existing players such as Hargreaves (HRGV.L) and AJ Bell (AJBA.L), after reporting a doubling in annual profits. CMC, which facilitates the trade of complex financial instruments, raised its outlook multiple times this year as a retail trading boom fuelled volumes. Rivals IG (IGG.L) and Plus500 (PLUSP.L) have also reported strong results, powered partly by the "GameStonk" retail trading phenomenon. read more'UNDERCUT THE MARKET'The GameStonk effect has been most visible in the United States, where online brokers such as Robinhood have thrived on the back of a retail trading boom. The company did not disclose further details on its planned wealth platform, first reported by Sky News, but Cruddas was confident of its prospects.
Persons: Dylan Martinez, Hargreaves, AJ Bell, Peter Cruddas, David Fineberg, Cruddas Organizations: CMC Markets, REUTERS, CMC, Reuters, Rivals, GameStop, Sky News, Thomson Locations: London, Britain, United States
Singers welcome G7 leaders to Cornwall with shanties by the sea
  + stars: | 2021-06-10 | by ( ) www.reuters.com + 0.00   time to read: +3 min
Sea Shanty singing group Bryher's Boys pose for a picture at Prince Wales Pier as Cornwall prepares for the G7 Summit, in Falmouth, Britain, June 9, 2021. He said sea shanties were once sung to galvanize sailors as they went about daily chores like raising the anchor and hauling in the sails. Sea shanties entered popular culture after postman Nathan Evans sang the 19th century "Wellerman" and posted the performance on TikTok last year. "Sea shanties as I say have been around Cornwall for some time, but it has given it a new impetus, and yeah we're glad for that." The Bryher's Boys' performance at next week's festival will be streamed online, and Brookes is also looking forward to a return to live performances.
Persons: Dylan Martinez, Prince, Trevor Brookes, Brookes, Joe Biden, Nathan Evans, TikTok, it's Organizations: Prince Wales Pier, REUTERS, Bryher's, Thomson Locations: Cornwall, Falmouth, Britain, Wales, England, Scottish, English, Cornwall . U.S, Carbis Bay
COVID-19 outbreak closes hotel hosting G7 summit delegation
  + stars: | 2021-06-10 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
The Pedn Olva Hotel is seen, after it was closed due to a guest contracting coronavirus disease (COVID-19), during the G7 leaders summit, in St Ives, Cornwall, Britain, June 10, 2021. REUTERS/Dylan MartinezA hotel, which British media reported was being used by members of Germany's delegation to a Group of Seven summit in England, has closed because members of staff tested positive for COVID-19, its owners said on Thursday. Among the guests were security staff for the German delegation and a media team working for a U.S. broadcaster, Sky News reported. "Following extensive discussions over the last few days with PHE (Public Health England) and Cornwall Council, we have taken the decision to fully close the hotel," said a spokesperson for the owners, St Austell Brewery. The spokesperson said the hotel would reopen once a full COVID-19 deep clean had taken place and there were enough staff to run it.
Persons: Dylan Martinez Organizations: REUTERS, Sky News, Public, Cornwall Council, St Austell Brewery, Thomson Locations: St Ives, Cornwall, Britain, England, U.S, St Austell
G7 finance ministers meet in London to broker global tax deal
  + stars: | 2021-06-03 | by ( David Milliken | ) www.reuters.com + 0.00   time to read: +4 min
The gathering, chaired by British finance minister Rishi Sunak, will be the first time all seven ministers will meet face-to-face since the start of the coronavirus pandemic. French finance minister Bruno Le Maire said ahead of the meeting that an agreement would be a "decisive step" which he thought was "within reach". MINIMUM 15% RATEThe United States has proposed a minimum global corporate tax rate of at least 15%. The United States has proposed levying the new global minimum tax only on the world's 100 largest and most profitable companies. “All of them, and without exception” must be covered by the new rules, German finance minister Olaf Scholz told Reuters.
Persons: Rishi Sunak, Dylan Martinez, Joe Biden's, Donald Trump, Sunak, ” Sunak, Bruno Le Maire, Taro Aso, Biden, Olaf Scholz, Daniel Bunn Organizations: Reuters, Downing, REUTERS, Dylan Martinez Finance, Google, Facebook, Lancaster House, Treasury, United, Washington's, Foundation, Britain, United Nations, Financial, Thomson Locations: London, Britain, United States, Japan, Germany, France, Italy, Canada, Lancaster, Buckingham, Venice, U.S, England, States, Glasgow
Britain's Chancellor of the Exchequer Rishi Sunak speaks during an interview with Reuters at his number 11 Downing Street office, in London, Britain, June 2, 2021. REUTERS/Dylan MartinezBritish finance minister Rishi Sunak said a U.S. proposal to focus on the world’s 100 biggest and most profitable firms as part of a global tax deal could work but he insisted that big tech firms must pay more tax in countries where they operate. "REALLY STRONG SIGNAL"In the absence so far of a global deal on how to split up tax rights, Britain and other countries have imposed taxes on digital services targetting the revenues of technology firms. Sunak, speaking before the tariff announcement in Washington, said the 500 million pounds that Britain expects to raise this year with its digital services tax "gives you a sense of what's appropriate" for the outcome of a global deal. Sunak said beyond the numbers, reaching a tax reform deal - and progress on aligning the financial system more closely to the fight against climate change - would show that international cooperation was working again.
Persons: Rishi Sunak, Dylan Martinez, Sunak, Joe Biden, Donald Trump, Trump, Goldman Sachs, Janet Yellen, Olaf Scholz, , Organizations: Reuters, Downing, REUTERS, Trump, Amazon, Thomson Locations: London, Britain, Dylan Martinez British, U.S, Washington
London is open: Michelin chef Smyth hails survival of toughest year
  + stars: | 2021-05-13 | by ( Kate Holton | ) www.reuters.com + 0.00   time to read: +4 min
REUTERS/Dylan MartinezCelebrated chef Clare Smyth sold out three months of bookings in 20 minutes when her Core restaurant said it would reopen from lockdown, underscoring her faith that London is ready to rebound with a bang on May 17. she told Reuters in the bright Core dining room in west London. "We were challenged with Brexit, prices have gone up and there's a real skill shortage in the UK," Smyth said. There's a lot of things going to happen in the next six months to a year. "London is opening up and exciting times will be ahead and it will bounce back," she said.
Persons: Clare Smyth, Dylan Martinez, Smyth, shoring, we're, Alain Ducasse's Le Louis XV, Gordon Ramsay, " Smyth, that's, Kate Nicholls Organizations: Michelin, REUTERS, Reuters, UK Hospitality, Thomson Locations: London, Britain, British, Northern Ireland, Monaco, Notting Hill, England
Covid-19 Live Updates: Pleas for Lockdown in India Grow
  + stars: | 2021-05-10 | by ( Karan Deep Singh | ) www.nytimes.com + 0.00   time to read: +20 min
Live Covid-19 Live Updates: Pleas for Lockdown in India Grow The Indian Medical Association calls for a lockdown to combat “agonizing crisis.” Experts say the illness will most likely become an ever-present threat globally. Calls for a national lockdown mount as India struggles to bring outbreak under control. Vaccinations so far have helped drive down positivity rates and hospitalizations across New York State, Mr. Cuomo said. Moderna plans to apply for full approval for its Covid-19 vaccine this month, the company said last week. On Monday, England, Scotland and Northern Ireland reported zero coronavirus deaths in a 24-hour period.
Persons: Anindito Mukherjee, Narendra Modi, Mr, Modi “, August —, Ashish K, Jha, Amr Alfiky, Andrew M, Cuomo, Johnson, , Bill de Blasio, BioNTech, de Blasio, Dave Chokshi, pediatricians, Michael Gold, Ishara, David Heymann, . Heymann, Michael Baker, Dr, Baker, trendline, ” Dr, Michael Merson, ” Madeleine Ngo, Boris Johnson, You’ll, they’ve, Dylan Martinez, , Sadiq Khan, Catherine Noakes, Stephen Fry, Toby Melville Organizations: Indian Medical Association, ., Ministry of Health, Institute for Health Metrics, Health Ministry, School of Public Health, Brown University, New York Times, Gov, Metro, North Railroad, Penn, Grand Central, North, Aquarium, Brooklyn Botanic Garden, State University of New, City University of New, Pfizer, U.S . Food, Drug Administration, Moderna, New York Islanders, National Hockey League, Agence France, Latin America, London School of Hygiene, Epidemiology Intelligence, Centers for Disease Control, World Health Organization, , Covid, University of Oxford, University of Otago, Zealanders, Duke University, Health, AIDS, British, Credit, Reuters, University of Leeds, Twitter, League, Chelsea, Manchester City, Champions League . Credit, Champions League, Premier League rivals Chelsea, Super Bowl, Wimbledon, City, Football Association, UEFA Locations: India, New Delhi, Covid, New York, St, Jamaica, Queens, Stillwell, Coney Island , Brooklyn, Long, Hempstead, Ossining, Manhattan, Metro, New Jersey, New York City, Brooklyn, New York State, State University of New York, City University of New York, U.S, Colombo, Sri Lanka, Asia, Latin, Brazil, Israel, East, Seychelles, Britain, Bhutan, United States, Africa, New Zealand, England, Scotland, Northern Ireland, Wales, London, Istanbul, Turkey, British
Live Covid-19 Live Updates: Pleas for Lockdown in India Grow and W.H.O. Officials will use the Johnson & Johnson vaccine at the stations, Mr. Cuomo said. Vaccinations so far have helped drive down positivity rates and hospitalizations across New York State, Mr. Cuomo said. Moderna plans to apply for full approval for its Covid-19 vaccine this month, the company said last week. Mr. Johnson said that England was taking “the single biggest step” on its road out of lockdown, adding that the public should “protect these gains” by being cautious and using common sense.
Persons: Amr Alfiky, Andrew M, Cuomo, Johnson, , Bill de Blasio, BioNTech, Mr, de Blasio, Dave Chokshi, pediatricians, Michael Gold, Ishara, David Heymann, . Heymann, Michael Baker, Dr, Baker, trendline, ” Dr, Michael Merson, ” Madeleine Ngo, Boris Johnson, You’ll, they’ve, Dylan Martinez, , Sadiq Khan, Catherine Noakes, Stephen Fry Organizations: New York Times, Gov, Metro, North Railroad, Penn, Grand Central, North, Aquarium, Brooklyn Botanic Garden, State University of New, City University of New, Pfizer, U.S . Food, Drug Administration, Moderna, New York Islanders, National Hockey League, ., Agence France, Latin America, London School of Hygiene, Epidemiology Intelligence, Centers for Disease Control, World Health Organization, , Covid, University of Oxford, University of Otago, Zealanders, Duke University and New York University, Health, AIDS, British, Credit, Reuters, University of Leeds, Twitter Locations: India, . New York, St, New York, Jamaica, Queens, Stillwell, Coney Island , Brooklyn, Long, Hempstead, Ossining, Manhattan, Metro, New Jersey, New York City, Brooklyn, New York State, State University of New York, City University of New York, U.S, Colombo, Sri Lanka, Asia, Latin, Brazil, Israel, East, Seychelles, Britain, Bhutan, United States, Africa, New Zealand, England, Scotland, Northern Ireland, Wales, London
Britain will have enough electricity over summer - National Grid
  + stars: | 2021-04-07 | by ( Nina Chestney | ) www.reuters.com sentiment -0.99   time to read: +2 min
RUTERS/Dylan Martinez/File PhotoLONDON (Reuters) - Britain should have enough electricity to meet demand over the summer months, the country’s National Grid Electricity System Operator (ESO) said on Thursday, even though peak demand could be slightly higher than last year. Electricity demand is not likely to be as low as last year when Britain was in strict lockdown during the spring and early summer due to COVID-19 and will be more in line with previous years, National Grid ESO said in its annual summer outlook. Peak electricity demand is expected to be 32 gigawatts (GW), 500 megawatts (MW) higher than last summer. Last year, in spring and early summer, minimum electricity demand fell as much as 17% compared to pre-coronavirus expectations. National Grid ESO said it expects an increased likelihood of periods when variable generation alone, namely renewables, will exceed minimum demand between mid-June and early August.
Persons: RUTERS, Dylan Martinez Organizations: Grid Electricity, Grid ESO, ESO Locations: Sheerness, Isle of Sheppey, Britain, COVID
Britain will have enough electricity over summer, says National Grid
  + stars: | 2021-04-07 | by ( Nina Chestney | ) www.reuters.com sentiment -1.00   time to read: +2 min
LONDON (Reuters) -Britain should have enough electricity to meet demand over the summer months, the country’s National Grid Electricity System Operator (ESO) said on Thursday, even though peak demand could be slightly higher than last year. Peak electricity demand is expected to be 32 gigawatts (GW), up 500 megawatts (MW) from last summer. Last year, in spring and early summer, minimum electricity demand fell as much as 17% compared with pre-pandemic expectations. National Grid ESO expects an increased likelihood of periods when variable generation alone, namely renewables, will exceed minimum demand between mid-June and early August. It forecasts summer gas demand at 32.4 billion cubic metres (bcm), slightly lower than last year’s 32.5 bcm, owing to to a reduction in gas-fired electricity generation.
Persons: RUTERS, Dylan Martinez Organizations: Grid Electricity, Grid ESO, ESO, Grid Locations: Britain, Sheerness, Isle of Sheppey, COVID, Norway
REUTERS/Dylan Martinez/File PhotoNEW YORK (Reuters) - JPMorgan Chase & Co Chief Executive Officer Jamie Dimon said on Wednesday the United States could be in store for an economic boom through 2023 if more adults get vaccinated and federal spending continues. The average U.S. consumer’s finances are in “excellent shape,” Dimon said, and the stock market’s high valuations are justified. The economic growth Dimon projects the United States could see in the next two years will create opportunities to “deal with issues stemming from inequality,” Dimon wrote. Dimon, who has called for higher taxes to pay for federal stimulus, said corporations could support many of these initiatives if the government adopted rigorous budgeting, transparency and discipline when it comes to its spending. “We must remember that the concepts of free enterprise, rugged individualism and entrepreneurship are not incompatible with meaningful safety nets and the desire to lift up our disadvantaged citizens,” Dimon wrote.
Persons: Morgan, Jamie Dimon, Britain's Chancellor, George Osborne, Dylan Martinez, ” Dimon Organizations: EU, REUTERS, JPMorgan Chase & Locations: Bournemouth, Britain, United States, U.S
UK needs to do more to tackle racism, PM Johnson says
  + stars: | 2021-04-01 | by ( Reuters Staff | ) www.reuters.com + 0.97   time to read: +1 min
FILE PHOTO: A man and a woman hold hands aloft in Hyde Park during a "Black Lives Matter" protest following the death of George Floyd who died in police custody in Minneapolis, London, Britain, June 3, 2020. REUTERS/Dylan MartinezLONDON (Reuters) -British Prime Minister Boris Johnson said on Thursday that a race inequality review commissioned by his government, which concluded there was no longer institutional racism in Britain, was stimulating but more needed to be done to tackle the issue. The report on Wednesday by the Commission on Race and Ethnic Disparities, ordered after Black Lives Matter protests last summer, said geography, family and socio-economic factors played a greater role on people’s life chances than race. “I don’t want to say that the government is going to agree with absolutely everything in it, but it has some original and stimulating work in it but I think people need to read and to consider,” Johnson said. Speaking to reporters, Johnson thanks Kasumu for his work and said he had done some great work encouraging ethnic minority groups to have a COVID-19 vaccine.
Persons: George Floyd, Dylan Martinez, Boris Johnson, ” Johnson, we’ve, , Samuel Kasumu, Downing, Johnson, Kasumu Organizations: REUTERS, Dylan Martinez LONDON, British, Commission Locations: Hyde, Minneapolis , London, Britain
Britons worry less about COVID and Brexit, but new concerns grow, poll shows
  + stars: | 2021-03-29 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
The proportion of respondents who cited COVID-19 as a big issue for the country dropped to 49% from 72% in February although it remained the single biggest concern, polling firm Ipsos MORI said. Britain has suffered Europe’s biggest COVID-19 death toll but has raced ahead of other European countries with its coronavirus vaccinations this year. Prime Minister Boris Johnson, along with his counterparts in Scotland, Wales and Northern Ireland, is gradually easing restrictions. But there were significant increases in concerns about the health service, poverty, education and housing, the poll showed. Ipsos MORI interviewed 1,009 people between March 5 and March 11.
Persons: Dylan Martinez, Ipsos MORI, Boris Johnson, , Mike Clemence, Brexit Organizations: Clapham, REUTERS, Dylan Martinez LONDON, Britons, European Union Locations: London, Britain, Scotland, Wales, Northern Ireland
The arrival of a deadlier and more transmissible variant of coronavirus – the B.1.1.7 “variant of concern” – was also swift and destructive. The Kent variant was identified by the COVID-19 Genomics UK Consortium, or COG-UK, a unique scientific endeavour set up last March to explore how genomic research might help tackle the pandemic. Solving the mystery of the Kent variant was a race against time by the COG-UK scientists, who have sequenced almost half of the world’s catalogue of Covid-19 genomes. Britain’s last major outbreak of malaria happened on the island, brought there by troops returning from World War One. RACE BETWEEN VACCINES AND VARIANTPaul Tottman, the Sheppey prison officer, didn’t respond to ECMO treatment.
Persons: Dylan Martinez, Paul Tottman, , Laura, Covid, Tottman, Hattie, Paul, ” Laura, Ivar the Boneless, ” –, Erik Volz, , Trafalgar, Nelson’s, Angela Harrison, Harrison, Bill Tatton, ” Tatton, Kent, Jackie Cassell, Tatton, Mike Rolfe, ” Rolfe, Rolfe, Boris Johnson, England’s, Henry Cooper, Cooper, ” Jeffrey Barrett, Barrett, Thomas ’, Andrew Rambaut, Tulio de Oliveira, De Oliveira, Rambaut, ” Volz, Volz, , ” Barrett, Johnson Organizations: OF, REUTERS, HMP Elmley’s, U.S . Centers for Disease Control, Genomics UK Consortium, Sheppey, Imperial College London, Sheppey East, Brighton, Sussex Medical School, HMP, Criminal Justice Workers ’ Union, Wellcome Sanger, Maritime Hospital, Medway Maritime, Thomas, Thomas ’ Hospital, University of Edinburgh, Covid, Public Health, New, Kent –, St Locations: OF SHEPPEY, England, Isle of Sheppey, Sheerness, Britain, Sheppey, HMP Elmley, Kent, Swale, London, Europe, Central London, Warden, we’ve, , Margate, Facetime, HMP Elmley’s, , Sheppey East, Cambridge, Gillingham, St, British, Brazilian, South, Cape, Britain –
City of London to vote on removing statues linked to slavery trade
  + stars: | 2021-01-21 | by ( Huw Jones | ) www.reuters.com sentiment -0.71   time to read: +2 min
LONDON (Reuters) - City of London representatives vote on Thursday on whether to remove from its Guildhall medieval ceremonial home statues of two figures that symbolise the financial sector’s historic role in slavery . The task force has recommended removing statues of William Beckford and John Cass from the Guildhall, with City councillors voting on Thursday afternoon. The Black Lives Matter protests have piled more pressure on a predominantly white financial sector to better reflect the wider population’s ethnic diversity. “By signing up to the charter, firms commit to tackling barriers,” Glen told a City & Financial conference on ethnic diversity in financial services. “The City and financial services generally are not diverse and inclusive,” said Georgina Philippou, a senior advisor at the FCA.
Persons: Dylan Martinez, George Floyd, William Beckford, John Cass, Cass, Beckford, John Glen, Glen, Tony Sewell, ” Sewell, , , Georgina Philippou Organizations: REUTERS, Guildhall, Work Charter, Financial, Authority, FCA Locations: London, Canary Wharf, Britain, United States, Jamaica, City
Breakingviews - Big U.S. banks keep their powder a bit too dry
  + stars: | 2021-01-15 | by ( John Foley | ) www.reuters.com + 0.00   time to read: +2 min
REUTERS/Dylan Martinez/File PhotoNEW YORK (Reuters Breakingviews) - Big U.S. banks are awash with capital, trading like it’s the end of days, and raising abundant capital for their clients. The $19.2 billion net increase in loans to consumers and small businesses in 2020 can be accounted for entirely by lending through the Payment Protection Program. Of a $39 billion increase in lending that wasn’t to consumers, more than half went to clients in the wealth management division. JPMorgan is the biggest U.S. lender to report earnings so far, but it’s not the only one keeping its powder dry when it comes to Main Street. Meanwhile, many business owners don’t actually want to borrow on terms banks are prepared to offer.
Persons: JP Morgan, Dylan Martinez, Jamie Dimon, it’s, don’t, Joe Biden, Janet Yellen, Banks Organizations: JP, REUTERS, Reuters, Employees, JPMorgan, Federal Locations: Canary, London, Big U.S, Wells Fargo
REUTERS/Dylan Martinez/File PhotoSix of the world’s largest commercial insurers -- Hiscox, RSA, QBE, Argenta, Arch and MS Amlin -- argued many business interruption policies did not cover widespread disruption after government efforts to curb the virus from last March. But the UK Supreme Court unanimously dismissed appeals by the insurers after scrutinising non-damage insurance policy clauses -- which cover disease, denial of access to business premises and hybrid clauses -- in a comprehensive victory for the regulator and policyholders. Hiscox, whose shares dropped more than 5% before recovering, estimated its 2020 estimate for pandemic-related business interruption had risen by $48 million net of reinsurance, bringing total claims to 136 million pounds. The FCA said it would work with insurers to ensure they settled claims quickly and made interim payments if possible. Christopher Croft, CEO of insurance brokers’ association LIIBA, said the industry’s reputation had been damaged.
Persons: coronavirus, Dylan Martinez, policyholders, Alistair Handyside, , Murray Pulman, , QBE, Sonia Campbell, Mishcon, Reya, Arch, Hiscox, Christopher Croft Organizations: Friday, REUTERS, Financial, Authority, Professional Association of Self, RSA, Barclays, FCA Locations: Canary Wharf, London, Britain, Dorchester, England
LONDON (Reuters) - Small businesses, from restaurants to nightclubs and wedding planners to beauty parlours, on Friday won the right to insurance payouts after Britain’s highest court ruled their policies should cover losses caused by coronavirus lockdowns. But the UK Supreme Court dismissed appeals by the insurers after scrutinising non-damage insurance policy clauses -- which cover disease, denial of access to business premises and hybrid clauses -- in a victory for the regulator and policyholders. But policyholders are now bracing for the next stage in their fight for payouts. Hiscox shares fell as much as 5.2% early on Friday before reversing losses to trade 2.6% higher by 1250 GMT. Christopher Croft, CEO of insurance brokers’ association LIIBA, said the industry’s reputation had been damaged.
Persons: coronavirus, Dylan Martinez, Alistair Handyside, , Murray Pulman, , Hiscox, Christopher Croft Organizations: Friday, REUTERS, Professional Association of Self, RSA, Authority, FCA Locations: Canary Wharf, London, Britain, Dorchester, England
Britain to restrict promotion of unhealthy food from April 2022
  + stars: | 2020-12-28 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +1 min
The government says obesity is one of Britain’s biggest long-term public health problems with almost two-thirds of adults in England overweight and one in three children leaving primary school overweight or obese. The measures will also restrict where in a store promotions on such products can be advertised, and unhealthy promotions will not be allowed at checkouts, shop entrances or at the ends of aisles. “We are restricting promotions and introducing a range of measures to make sure the healthy choice is the easy choice. Creating an environment which helps everyone eat healthier foods more regularly is crucial to improving the health of the nation,” public health minister Jo Churchill said. Britain first proposed restricting “buy one get one free” deals on junk food in July, and also announced measures such as banning TV and online adverts for junk food before 9.00 p.m.Last month the government went further and proposed a total ban on online advertising of unhealthy food.
Persons: Hawksmoor, Dylan Martinez, Jo Churchill, Boris Johnson Organizations: REUTERS, Dylan Martinez LONDON Locations: London, Britain, COVID
DOVER, England (Reuters) - Dover, Europe’s busiest trucking port, expects some disruption when Britain finally leaves the European Union’s orbit on Dec. 31 and is already seeing almost record volumes as companies rush to stockpile, its chief executive said on Thursday. Doug Bannister, CEO of the Port of Dover, poses for a portrait in Dover, Britain, December 17, 2020. As Bannister spoke, trucks heading towards Dover were backed up for around 20 miles (32 km), snaking into the nighttime horizon, according to a Reuters photographer who drove the length of the queue. One of Prime Minister Boris Johnson’s most senior Brexit ministers, Michael Gove, said on Thursday that any possible disruption at ports would be short-lived. Volumes reached 10,141 trucks in the latest 24-hour period - or over 100 miles of trucks - compared to a normal volume of around 7,500 to 8,500 a day.
Persons: Doug Bannister, Port, Dylan Martinez Britain, Bannister, , Boris Johnson’s, Michael Gove, , ” Gove Organizations: REUTERS, Reuters, EU Locations: DOVER, England, Dover, Britain, Calais, Brussels, U.S, New Jersey, Brexit, Dunkirk, France
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