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DUBAI, Nov 29 (Reuters) - Sultan Al Jaber, the incoming president of the United Arab Emirates-hosted COP28 climate summit, on Wednesday rejected accusations the host country planned to discuss natural gas and other commercial deals in meetings linked to the U.N. talks. The BBC and the Centre for Climate Reporting (CCR) on Monday said leaked briefing documents prepared for Jaber showed plans to discuss fossil fuel deals with 15 countries. And it's an attempt to undermine the work of the COP28 presidency," Jaber told a news conference, his first public remarks following the BBC report. "I promise you, never ever did I see these talking points that they refer to or that I ever even used such talking points in my discussions." Jaber has presented himself as a mediator between both sides of the fossil fuel divide, with a healthy desire to include the oil and gas industry in the climate debate.

Persons: Sultan Al Jaber, Jaber, Yousef Saba, Barbara Lewis Organizations: United Arab, BBC, Climate Reporting, Abu Dhabi National Oil Company, Organization of, Petroleum, Thomson Locations: DUBAI, United Arab Emirates, Abu Dhabi, UAE

☆ AI threatens wages, not jobs - so far, ECB paper finds
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +1 min

AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken, June 23, 2023. REUTERS/Dado Ruvic/Illustration//File Photo Acquire Licensing RightsFRANKFURT, Nov 28 (Reuters) - The rapid adoption of artificial intelligence could reduce wages, but so far is creating, not destroying jobs, especially for the young and highly-skilled, research published by the European Central Bank showed on Tuesday. Firms have invested heavily in artificial intelligence, or AI, leaving economists striving to understand the impact on the labour market and driving fears among the wider public for the future of their jobs. Most of their impact on employment and wages – and therefore on growth and equality – has yet to be seen." The findings were in contrast to previous "technology waves," it said, when computerisation decreased "the relative share of employment of medium-skilled workers, resulting in "polarisation".

Persons: Dado Ruvic, –, Balazs Koranyi, Barbara Lewis Organizations: REUTERS, Rights, European Central Bank, ECB, Thomson

"This COP we need to see accelerated action from all parties," Matt Bell, EY Global Climate Change and Sustainability Services Leader, said. The business and finance sectors have long called for a global carbon emissions price that they say would level the playing field for polluters and make the switch to low-carbon more cost-effective. Confidence in voluntary carbon markets has fallen this year as critics question the environmental credibility of projects. "The last 10% of a (corporate) carbon reduction plan will always include some carbon removal credits," Leggett said, adding that "the market needs clarity on what that means." Reporting by Simon Jessop and Tommy Reggiori Wilkes; editing by Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Yves Herman, Matt Bell, Bell, Sultan Al Jaber, Virginie Derue, Katherine Dixon, Victoria Leggett, Leggett, Simon Jessop, Tommy Reggiori Wilkes, Barbara Lewis Organizations: REUTERS, United Nations, Sustainability Services, Reuters, ESG Research, AXA Investment, Accenture, Bain & Company, UBP, Thomson Locations: Dunkirk, France, Dubai, COP28, Paris, China, United States

☆ Ukrainian spy chief's wife poisoned, media reports say
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Valentyn Ogirenko/File Photo Acquire Licensing RightsKYIV, Nov 28 (Reuters) - The wife of Ukraine's military intelligence chief has been poisoned with heavy metals, several Ukrainian media outlets reported on Tuesday, citing unnamed intelligence sources. Marianna Budanova is the wife of Kyrylo Budanov, who heads Ukrainian military intelligence agency GUR, which has been prominently involved in clandestine operations against Russian forces throughout the 21-month war. In Russian media he is a hate figure. Ukraine's military intelligence and domestic security services did not respond to requests for comment. Russian media has reported that a court in Moscow had arrested Budanov in absentia in April on terrorism charges.

Persons: Kyrylo Budanov, Valentyn, Marianna Budanova, GUR, Budanova, Suspilne, Ukrainska Pravda, Budanov, Max Hunder, Tom Balmforth, Barbara Lewis Organizations: Military Intelligence, Reuters, REUTERS, Rights, Russian, Ukrainska Pravda, RBC Ukraina, Thomson Locations: Ukraine, Kyiv, Russia, Moscow, Russian

LONDON, Nov 28 (Reuters) - China's imports of refined copper have quietly accelerated over recent months, taking volumes to a year-to-date high in October. China's appetite for imported copper is not confined to refined metal. It is also absorbing record amounts of copper concentrates and imports of recyclable metal are running at the fastest pace since 2018. China's trade in refined copperIMPORT STRENGTHChina imported 353,000 metric tons of refined copper in October, which was the highest monthly volume this year. Shanghai Futures Exchange copper stocks, bonded stocks and Yangshan premiumBOOMING OUTPUT, LOW STOCKSHigher raw materials imports this year have allowed China's smelters to ramp up run rates.

Persons: Barbara Lewis Organizations: Democratic, Shanghai Futures Exchange, Shanghai Metal, Stocks, International Energy Exchange, Citi, Reuters, Thomson Locations: Democratic Republic of Congo, China, Congo, Beijing, Shanghai

SummaryCompanies Aims for aerospace margin of 15-17%Expects medium-term annual operating profit of 2.8 bln stgShares rise 6.5%LONDON, Nov 28 (Reuters) - Rolls-Royce (RR.L) aims to quadruple profit in the next five years by boosting the performance of its jet engines and bearing down on costs in boss Tufan Erginbilgic's masterplan for Britain's most prestigious engineering company. That would be driven by surge in profit margins at its civil aerospace business to 15-17% from 2.5% last year. Agency Partners analyst Nick Cunningham said the targets implied Rolls-Royce was willing to shed revenues in exchange for better profitability. "If so, that is a deeper culture change from Rolls-Royce’s traditional market share optimisation approach of past decades," he said. "We will capture market share every year, but in a profitable way," he said.

Persons: Tufan, Erginbilgic, Nadja Wohlleben, Royce, Nick Cunningham, Rolls, Paul Sandle, Barbara Lewis, Mark Potter Organizations: Royce, Airbus, Boeing, REUTERS, Agency Partners, Trent, Thomson Locations: widebodies, Royce Germany, Dahlewitz, Berlin, Germany

One Russian banking source close to the Russian central bank said receiving revenue in a non-convertible currency with little value outside India was "pointless". They said, however, the problem remained of finding a viable alternative to the dollar, and that the problems affect buyers in Africa, China and Turkey which have become top buyers of Russian oil. The biggest issue, however, concerns India, which has been buying more than 60% of Russian seaborne oil, according to LSEG data and Reuters calculations. India's top refiner Indian Oil Corp (IOC.NS) is struggling to settle some payments, mainly for the purchase of Russia's light, sweet Sokol grade from the Sakhalin 1 project. From October, several UAE banks have tightened control over Russia-focused clients to ensure compliance with the price cap, according to five oil trading and bank sources.

Persons: Yang Mei Hu, Tatiana Meel, Ivan Nosov, Sokol, YUAN, Barbara Lewis Organizations: COSCO Shipping, REUTERS, U.S ., UAE, Reuters, Indian Oil Corp, Sokol, IOC, UAE dirhams, Thomson Locations: Nakhodka, Russia, Ukraine Russian, MOSCOW, DELHI, Ukraine, India, Russian, Hong, Africa, China, Turkey, Washington, Moscow, United States, Russia's, Sakhalin, UAE

☆ Vitesco says new Schaeffler offer for EV merger 'inadequate'
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

The Vitesco company logo is seen at Continental's pilot location for industry 4.0 applications in Regensburg, Germany, February 28, 2020. REUTERS/Michael Dalder/File Photo Acquire Licensing RightsNov 27 (Reuters) - German automotive supplier Schaeffler (SHA_p.DE) raised its offer price for shares in Vitesco Technologies (VTSCn.DE) on Monday, as a goodwill gesture, but Vitesco management said the new offer was "inadequate". Germany's billionaire Schaeffler family holds all voting rights and 75% of shares in its namesake supplier of electric vehicle components. It also owns close to 50% of Vitesco, making the likelihood the merger will be agreed all but certain. However, under pressure from some investors, who said the original offer of 91 euros per share was too low, it increased its offer price to 94 euros ($102.53) per share in Vitesco.

Persons: Michael Dalder, Schaeffler, Vitesco, Amir Orusov, Christina Amann, Rachel More, Barbara Lewis Organizations: REUTERS, Vitesco Technologies, Continental AG, Thomson Locations: Regensburg, Germany, Vitesco

☆ Economic models buckle under strain of climate reality
▼ + stars: | 2023-11-22 | by ( Mark John | ) www.reuters.com time to read: +6 min

But detractors say those numbers are the product of economic models that are not fit to capture the full extent of climate damage. A year earlier, the Trump administration cited similar models to justify replacing the Obama-era Clean Power Plan with one allowing higher emissions from coal-burning plants. At issue are the "integrated assessment models" (IAMs) economists use to draw conclusions on anything from output losses to financial risk or the pricing of carbon markets. Line chart with data from Climate Tracker shows varying predictions of global warming damage as percentage of GDP. "Our main message is: 'Economists, speak to climate scientists and come up with results that make sense'," he said.

Persons: William Nordhaus, Trump, Obama, Isabel Schnabel, Leon Walras, doesn't, Thierry Philipponnat, Steve Keen, Nordhaus, Rupert Thorne, Livio Stracca, Jean Boissinot, Nicholas Stern, Stern, Watch's Philipponnat, Mark John, Barbara Lewis Organizations: Central Bank, Finance Watch, Reuters, Network, Greening, " University College of London, ECB, NGFS, LSE, Grantham Research Institute, European Union, Thomson Locations: Dubai, Paris, Brussels

☆ ECB says property slump could last years in threat to lenders
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +4 min

An ECB report which examines threats to financial stability underscored heightened concern over a property boom that is now unravelling in countries such as Germany and Sweden. Commercial property prices have been hit by economic weakness and high interest rates over the last year, challenging the sector's profitability and business model, the ECB said. The sector is not big enough to create a systemic risk for lenders, but could increase shocks across the financial system and greatly impact the financial firms, from investment funds to insurance firms, collectively known as shadow banks. The ECB issued its report as deep cracks emerged in the property market of the euro zone's top economy, Germany. Commercial real estate transactions were down 47% in the first half of 2023, compared with the same period in 2022.

Persons: René Benko, Banks, Balazs Koranyi, John O'Donnell, Barbara Lewis, Alexander Smith Organizations: European Central Bank, ECB, Signa, Chrysler, Signa Group, Reuters, Raiffeisen Bank, Bank, Thomson Locations: FRANKFURT, Germany, Sweden, Austrian, Hamburg, Austria, Bank Austria

They said some battery operators are already supplying back-up power to grids at a price competitive with gas power plants, meaning gas will be used less. British independent Carlton Power dropped plans for an 800 million pound ($997 million) gas power plant in Manchester, northern England, in 2016. MODELS UNDER SCRUTINYDevelopers can no longer use financial modelling that assumes gas power plants are used constantly throughout their 20-year-plus lifetime, analysts said. Many countries world-wide, but especially in Europe, provide payments for standby power plants through capacity markets. In Europe, 40 million electric vehicles are expected by 2030, capable of displacing around one third of the region's gas power capacity, according to Kaluza.

Persons: Andrew Boyers, Carlton Power, Keith Clarke, Clarke, Carlton, Nigel Scott, Banks, Simon Virley, Helen Sanders, Sanders, Carlton's Clarke, Sarah McFarlane, Susanna Twidale, Simon Webb, Barbara Lewis Organizations: REUTERS, U.S, Global Energy Monitor, Power Ventures, Carlton, Carlton Power, Reuters, Sumitomo Mitsui Banking Corporation, Investors, Electricity, KPMG, Union, Octopus Energy, Thomson Locations: Finedon, Britain, Europe, United States, New Jersey, Manchester, England, London

Chartbook: Oil and gas positionsAs in previous weeks, sales in the most recent week were led by crude (-16 million barrels), especially NYMEX and ICE WTI (-11 million), with some extra sales in Brent (-5 million). Funds held a larger position of 171 million barrels in Brent, but that was in only the 28th percentile, still significantly bearish. Funds purchased 9 million barrels over the seven days ending on Nov. 14 and had purchased a total of 25 million barrels since Oct. 17. The net position had doubled to 51 million barrels (46th percentile) on Nov. 14 up from 26 million barrels (19th percentile) four weeks earlier. Related columns:- U.S. gasoline stocks add to crude oil turbulence (November 17, 2023)- U.S. oil prices slide as stocks accumulate at Cushing (November 16, 2023)- Oil traders turn bearish, daring OPEC⁺ to cut again (November 14, 2023)- Oil prices slump as fundamentals reassert themselves (November 9, 2023)John Kemp is a Reuters market analyst.

Persons: John Kemp, Barbara Lewis Organizations: ICE, Funds, ICE WTI, Fund, Thomson, Reuters Locations: Brent, NYMEX, Saudi Arabia, Russia, bearishness, United States, Cushing

☆ Italy's Transgender Women Thank Pope for Making Them Feel 'More Human'
▼ + stars: | 2023-11-19 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

But for transgender women who live there it had seemed light years away until a rapprochement with the Catholic Church that began during the COVID-19 lockdown and led to an invitation to have lunch with Pope Francis on Sunday. Last week, the Vatican's doctrinal office issued a statement saying transgender people can be godparents at Roman Catholic baptisms, witnesses at religious weddings and receive baptism themselves. As well as sending money, the cardinal arranged for them to have COVID vaccinations in the Vatican and to meet the pope. "For us, he is our saint," Salas said of Conocchia last week. On Sunday, Conocchia arrived at the Vatican on a bus with about 50 poor from his parish, including transgender people, both foreign born and Italian.

Persons: Oriana Boselli, Antonio Denti, Philip Pullella TORVAIANICA, Pope Francis, Claudia Victoria Salas, Carla Segovia, Salas, Francis, Father Andrea Conocchia, Conocchia, " Salas, Segovia, Philip Pullella, Barbara Lewis Organizations: VATICAN CITY, Catholic Church, Immaculate Locations: Italy, VATICAN, Torvaianica

☆ U.N. plastic treaty talks grapple with re-use, recycle, reduce debate
▼ + stars: | 2023-11-19 | by ( Duncan Miriri | ) www.reuters.com time to read: +2 min

Some said the number of submissions represented progress, while campaign group Greenpeace said it was "chaos". Greenpeace said a successful deal would require the United States and the European Union to show greater leadership than they have so far. The International Pollutants Elimination Network (IPEN), a global network of non-governmental organisations, however, said the proposals reflected the robustness of the Nairobi talks. Less than 10% of the plastic waste is recycled, the U.N. Members of the Saudi delegation at the talks declined to talk to Reuters, while Russian delegates could not immediately be reached for comment.

Persons: INC3, Graham Forbes, IPEN, Duncan Miriri, George Obulutsa, Barbara Lewis Organizations: Greenpeace, Plastics, United Nations, Kenyan, European Union, International Union for Conservation, Nature, European, Saudi, Thomson Locations: NAIROBI, Russia, Saudi Arabia, United States, Nairobi, Switzerland, Uruguay, Canada, Kenya, European Union

[1/4] Carla and Claudia Victoria, transgender women, sit inside the Blessed Immaculate Virgin Church in Torvaianica, near Rome, Italy, November 16, 2023. But for transgender women who live there it had seemed light years away until a rapprochement with the Catholic Church that began during the COVID-19 lockdown and led to an invitation to have lunch with Pope Francis on Sunday. Claudia Victoria Salas, 55, and Carla Segovia, 46, both Argentinian, were in a group of transgender people, among about 1,200 poor and homeless people, who attended the lunch on the Church's World Day of the poor. As well as sending money, the cardinal arranged for them to have COVID vaccinations in the Vatican and to meet the pope. On Sunday, Conocchia arrived at the Vatican on a bus with about 50 poor from his parish, including transgender people, both foreign born and Italian.

Persons: Carla, Claudia Victoria, Antonio Denti, Pope Francis, Claudia Victoria Salas, Carla Segovia, Salas, Francis, Father Andrea Conocchia, Conocchia, " Salas, Segovia, Philip Pullella, Barbara Lewis Organizations: Immaculate Virgin Church, REUTERS, VATICAN CITY, Catholic Church, Immaculate, Thomson Locations: Torvaianica, Rome, Italy, VATICAN

☆ U.N. Plastic Treaty Talks Grapple With Re-Use, Recycle, Reduce Debate
▼ + stars: | 2023-11-19 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

Persons: Duncan Miriri, INC3, Graham Forbes, IPEN, George Obulutsa, Barbara Lewis Organizations: United Nations, Greenpeace, Kenyan, European Union, International Union for Conservation, Nature, European, Saudi Locations: Duncan Miriri NAIROBI, Russia, Saudi Arabia, United States, Nairobi, Switzerland, Uruguay, Canada, Kenya, European Union

Earlier this month, she said the U.S. offshore wind industry was "fundamentally broken" after BP wrote down $540 million on its wind power projects offshore New York, blaming inflation and red tape that meant projects ran over budget and over time. Globally, the renewables sector has been undermined by slow permitting, technological challenges, rising raw material costs and higher costs of capital. As BP seeks to guarantee it can meet its internal returns target of 6% to 8% on renewables projects, Dotzenrath said BP was working out how to reduce costs globally. You need one of the local energy suppliers to help you push ahead with the permitting processes and establish the onshore grid connection," she said. BP does not produce electrolysers, which split water to produce hydrogen, but Dotzenrath said did not rule out greater involvement.

Persons: Chris Helgren, Anja, Isabel Dotzenrath, Norway's Equinor, Denmark's, Dotzenrath, we'll, Chancellor Olaf Scholz, Thyssenkrupp, Christoph Steitz, Ron Bousso, Barbara Lewis Organizations: BP, REUTERS, Reuters, Siemens Energy, BASF, Thomson Locations: Vancouver , British Columbia, Canada, LONDON, Japan, U.S, New York, U.S.A, Germany

Skochilenko, an artist and musician known as Sasha to her friends, has admitted replacing price tags in a supermarket in her native St Petersburg on March 31 2022 with small pieces of paper urging an end to the war and criticising the authorities. But Skochilenko, who has already spent over a year-and-a half in prison, denies the formal charge of knowingly spreading false information about the Russian army. Skochilenko is due to make a final statement on Thursday to a court in St Petersburg which is expected to deliver a verdict on the same day. Amnesty International has declared Skochilenko "a prisoner of conscience" - someone who is imprisoned solely because of who they are or what they believe. Reporting by Reuters Writing by Andrew Osborn Editing by Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Alexandra, Sasha, Skochilenko, Said, Alexandra Skochilenko, Russia's, Moscow, Vladimir Putin, Yana Nepovinnova, Andrew Osborn, Barbara Lewis Organizations: Amnesty International, Thomson Locations: Ukraine, Saint Petersburg, Russia, Russian, St Petersburg

☆ Guinness World Records day celebrates the super skilled and superlative
▼ + stars: | 2023-11-16 | by ( Sarah Mills | ) www.reuters.com time to read: +2 min

[1/5] Zhou Quan, from China, holds a Guinness World Records' certificate after achieving the most consecutive, 11 repetitions, single leg full twist back somersaults in Chenzhou, Hunan, China August 15, 2023 in this handout picture released in celebration of Guinness World Records Day 2023. Now he is among the super-skilled people, expert at doing unusual and difficult things that are being celebrated on Thursday by Guinness World Records Day. Guinness World Records Editor-in-Chief Craig Glenday, who was on hand to adjudicate Swift's record ride, said this year's theme is super skills. "Guinness World Records Day is a global celebration of the superlative," he said. The United States, meanwhile, boasts Henry Cabelus who holds eight world records after achieving the highest backflip Pogo Stick jump, making it over a height of 3.07 metres (10.07 ft).

Persons: Zhou Quan, Britain's Paul Swift, Swift, Craig Glenday, Henry Cabelus, I’ve, Sarah Mills, Barbara Lewis Organizations: Records, Guinness, Britain's Silverstone, Guinness World, Thomson Locations: China, Chenzhou, Hunan, Britain's, Japan, United States

☆ Top companies' lobbying undermines their climate pledges, study finds
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +3 min

InfluenceMap uses the United Nations' High-Level Expert Group's (HLEG) 'Integrity Matters' guidance on the need to align lobbying with climate commitments. Catherine McKenna, Chair of the U.N.'s HLEG on Net Zero Emissions Commitments of Non-State Entities, said the findings should be a "wake-up call" for businesses. "Not only are many companies choosing to undermine their own climate commitments by lobbying against climate action, their net zero commitments are simply not credible," she said. InfluenceMap, founded in 2015 to encourage action to tackle the climate crisis, highlighted companies at the most significant risk of 'net zero greenwash'. "Governments are failing to progress climate policy at the speed needed, and corporate influence is a key reason why," said Will Aitchison, the study's lead author.

Persons: Arnd, Catherine McKenna, InfluenceMap, Glencore, Will Aitchison, Tommy Reggiori Wilkes, Barbara Lewis Organizations: REUTERS, ExxonMobil, Forbes, Nations, European Union, U.S . Environmental, Stellantis, Thomson Locations: Baar, Switzerland, U.S

☆ Hedge funds help fill bond-buying void left by central banks
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

Weinberg said hedge funds accounted for roughly 40% of turnover in German securities. Other debt agency officials said regulation following the global financial crisis had prompted banks to be more cautious about investing in bonds, which also left hedge funds with greater scope to buy into fixed income markets. UK debt management office head Robert Stheeman said hedge funds had moved into the space left by banks in ensuring liquidity - in other words, the ease of buying and selling an asset. Mercedes Abascal Rojo, head of funding and debt management at the Spanish Treasury, urged the need for caution, however. So far, market functioning has generally been smooth, the debt agency heads said.

Persons: Heiko Becker, Thomas Weinberg, Weinberg, Robert Stheeman, Mercedes Abascal Rojo, Spain's Abascal, Dhara, Barbara Lewis Organizations: European Central Bank, REUTERS, Bank of England, Association for Financial Markets, Spanish Treasury, Thomson Locations: Frankfurt, Germany, Ukraine, Europe's, Brussels, Central, Spain

☆ Britain's Ocado secures first deal beyond grocery retail
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

An Ocado grocery delivery van is driven along a street in London, Britain, March 25, 2023. It also holds a 50% share of Ocado Retail in the UK in a joint venture with Marks & Spencer (MKS.L). The deal with McKesson will see Ocado receive upfront fees during the construction process with the final payment upon final installation. Ocado said the impact of the deal will be minimal on cash flow and earnings in its current financial year. In July, the group reported a return to first half underlying profit.

Persons: Toby Melville, Canada Ocado, McKesson, Tim Steiner, we're, Spencer, Ocado, James Davey, Prerna Bedi, Shilpi Majumdar, Kirsten Donovan, Barbara Lewis Organizations: REUTERS, Kroger, Casino, Marks, Times, Thomson Locations: London, Britain, Canada, Ocado, United States, Japan, France, U.S, Bengaluru

☆ Russian Artist Who Used Supermarket Price Tags to Criticise Ukraine War Faces Verdict
▼ + stars: | 2023-11-15 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

By Andrew Osborn(Reuters) - A Russian artist who replaced supermarket price tags with messages calling for an end to Moscow's war in Ukraine is expected to learn her fate in court on Thursday with a state prosecutor asking for her to be jailed for eight years. But Skochilenko, who has already spent over a year-and-a half in prison, denies the formal charge of knowingly spreading false information about the Russian army. Skochilenko is due to make a final statement on Thursday to a court in St Petersburg which is expected to deliver a verdict on the same day. Amnesty International has declared Skochilenko "a prisoner of conscience" - someone who is imprisoned solely because of who they are or what they believe. One of her lawyers, Yana Nepovinnova, told the court on Monday that her client should be acquitted.

Persons: Andrew Osborn, Alexandra Skochilenko, Russia's, Moscow, Vladimir Putin, Sasha, Skochilenko, Yana Nepovinnova, Barbara Lewis Organizations: Amnesty International, Reuters Locations: Russian, Ukraine, Russia, St Petersburg

☆ UK lenders step up mortgage price battle as inflation slows
▼ + stars: | 2023-11-15 | by ( Iain Withers | ) www.reuters.com time to read: +2 min

LONDON, Nov 15 (Reuters) - British lenders have accelerated price cuts on mortgages as competition intensifies, inflation slows and markets increase bets on future Bank of England (BoE) interest rate cuts. The latest inflation data on Wednesday showed price rises in Britain fell faster than expected in October, plunging to 4.6% from 6.7% the prior month, leading to further investor bets on BoE rate cuts next year. Reuters GraphicsThe average two-year fixed rate mortgage was priced at 6.19% as of Wednesday, the Moneyfacts data showed, down from a peak this year of 6.86% on 26 July. The country's inflation rate also remains high relative to most other developed economies. Lender cuts to fixed mortgage rates are also unlikely to be matched by variable rates that closely track the BoE rate.

Persons: BoE, John Charcol, Iain Withers, Sinead Cruise, Barbara Lewis Organizations: Bank of England, HSBC, Halifax, Virgin, Mortgage, Reuters, Wednesday, Thomson Locations: Britain

☆ Sacked minister Braverman attacks UK's Sunak as failing and weak
▼ + stars: | 2023-11-14 | by ( Alistair Smout | ) www.reuters.com time to read: +3 min

Summary Braverman says Sunak has betrayed promise to stop migrant boatsSunak's office says actions, not words, countBraverman accuses Sunak of uncertain and weak leadershipLONDON, Nov 14 (Reuters) - Sacked British minister Suella Braverman launched a blistering attack on Prime Minister Rishi Sunak on Tuesday, accusing him of betraying both her and the country. She also said Sunak broke a series of promises he made to her so she would serve under him as prime minister. A spokesperson for Sunak's Number 10 office said in response: "The prime minister believes in actions not words." Braverman was sacked by Sunak on Monday after an unauthorised newspaper article in which she accused police of double standards at pro-Palestinian protests. Sunak became leader in October last year and re-appointed Braverman as interior minister just days after she was fired by his predecessor for security breaches.

Persons: Braverman, Sunak, Suella Braverman, Rishi Sunak, William James, Muvija, Elizabeth Piper, Kate Holton, Barbara Lewis Organizations: Conservatives, Conservative, European Union, Thomson Locations: Rwanda, Northern Ireland

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