DIRS.INFO The most relevant business & tech news

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

☆ 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

☆ 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

☆ 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

☆ Bank of England tells lenders to watch more closely for risky borrowers
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +2 min

A pedestrian walks past the Bank of England in the City of London, Britain, September 25, 2023. REUTERS/Hollie Adams Acquire Licensing Rights企業 Bank of England フォローLONDON, Sept 29 (Reuters) - The Bank of England wrote to lenders on Friday to urge them not to underestimate the risk of loan defaults as higher inflation and increased interest rates hit more vulnerable borrowers. However, in its letter to lenders, the BoE said they needed to look beyond aggregate risks and should identify whether particular types of borrower had specific vulnerabilities. Banks, for example, could look at spending patterns in their customers' current accounts and whether they had fixed-rate mortgages which would soon need to be refinanced at higher rates, the BoE suggested. It said for business lending, banks should not rely on a broad sector-based approach to risk and instead should in some cases consider specific companies' liquidity risks.

Persons: Hollie Adams, BoE, Victoria Saporta, Wilko, Banks, David Milliken, Kylie MacLellan 私 Organizations: Bank of England, City of, REUTERS, 企業 Bank of England, prudential, Wales Locations: City, City of London, Britain, England

☆ Bank of England to leave rates on hold through mid-2024, cut in Q3
▼ + stars: | 2023-09-26 | by ( Shaloo Shrivastava | ) www.reuters.com time to read: +4 min

A pedestrian walks past the Bank of England in the City of London, Britain, September 25, 2023. Last week, the Bank surprised markets by not raising rates, sending sterling to a six-month low, but signalled rates would remain higher for longer. Still, over 40% of economists, 15 of 37, who answered an extra question said the BoE should hike rates again this year. Sixteen economists predicted Bank Rate at 5.00% in the third quarter, 10 forecast 4.75%, six said 4.50%, one expected 4.25% and one 3.75%. The European Central Bank was predicted to cut rates in the third quarter next year but the Federal Reserve might start in the second quarter, separate Reuters polls showed.

Persons: Hollie Adams, The BoE, BoE, James Smith, James Rossiter, Shaloo Shrivastava, Anitta Sunil, Purujit Arun, Jonathan Cable, Bernadette Baum Organizations: Bank of England, City of, REUTERS, Rights, Bank, Monetary, The, ING Financial Markets, TD Securities, European Central Bank, Federal Reserve, Thomson Locations: City, City of London, Britain

☆ Reactions: Bank of England bashes pound after halting rate rises
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +8 min

A pedestrian carrying an umbrella walks near the Bank of England in the City of London, Britain, July 30, 2023. Investors had already rushed on Wednesday to reel in their bets on further UK rate rises after data showed UK inflation cooled surprisingly quickly in August. Against the euro , the pound was down 0.5% at 86.74 pence, having traded around 86.70 pence before the decision. "The MPC still refers to its flexibility to react should things change, but the chances are this could be the peak in this UK interest rate cycle." "However, there is a risk that the ‘lag effect’ on interest rate hikes means that today’s decision may not be felt for another 9 to 12 months."

Persons: Hollie Adams, Sterling, THOMAS, Huw Pill's, HUGH GIMBER, PHILIP SHAW, DOUGLAS GRANT, JEREMY BATSTONE, CARR, RAYMOND JAMES, FRANCES HAQUE, JOE TUCKEY, RICHARD GARLAND, GILES COGHLAN, BoE, stagflation, Amanda Cooper, Dhara Organizations: Bank of England, City of, REUTERS, London, Investors, Bank of, Bank, MPC, SANTANDER, LONDON, Core CPI, PMI, CPI, EMEA, Thomson Locations: City, City of London, Britain, London, MANX, EUROPEAN, FRANCE, GROUP, OXFORDSHIRE

☆ Man charged after climbing into Royal Mews by Buckingham Palace
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +1 min

A fox runs past the Buckingham Palace on the first anniversary of Queen Elizabeth II's death, in London, Britain, September 8, 2023. REUTERS/Hollie Adams/File Photo Acquire Licensing RightsLONDON, Sept 18 (Reuters) - A man has been charged with trespassing after being arrested in the early hours of Saturday morning climbing into the Royal Mews adjacent to Buckingham Palace in London, police said on Monday. Officers were alerted to reports at 1.25 a.m. (0025 GMT) on Saturday of the man climbing the wall to get into the Royal Mews which backs on to the Palace garden. Awad Rovalino, 25, was detained outside the stables in the Royal Mews, which is responsible for all road travel arrangements for King Charles and members of the Royal Family, and is home to the Gold State Coach. London's Metropolitan Police said he had also been charged with attempted theft from a motor vehicle during the same incident, and would appear in court later on Monday.

Persons: Queen Elizabeth II's, Hollie Adams, Awad Rovalino, King Charles, Kylie MacLellan, Toby Chopra Organizations: REUTERS, Royal Mews, Royal, Gold, Metropolitan Police, Thomson Locations: Buckingham, London, Britain

☆ Burberry's London runway show dominated by padded bags and blue-soled heels
▼ + stars: | 2023-09-18 | by ( Suban Abdulla | ) www.reuters.com time to read: +3 min

[1/4] Models present creations at the Burberry catwalk show during London Fashion Week in London, Britain, September 18, 2023. REUTERS/Hollie Adams Acquire Licensing RightsLONDON, Sept 18 (Reuters) - Burberry's (BRBY.L) Daniel Lee on Monday unveiled new accessories and a colourful take on British heritage in his second collection showing at London Fashion Week. The 37-year-old creative director's spring-summer 2024 collection, a highlight of London Fashion Week, introduced interlink chain prints and a new vibrant "Knight Blue" colour. Silhouettes on Monday's catwalk were elongated and accessorised with padded bags in khaki as well as leather structured bags in red, white and green. The designer is tasked with expanding Burberry's leather goods and accessories offerings.

Persons: Hollie Adams, Daniel Lee, Lee, Bradford, Jonathan Akeroyd's, Riccardo Tisci, Edward Enninful, Jodie Comer, Kylie Minogue, Naomi Campbell, Suban Abdulla, William Maclean Organizations: Burberry, London, REUTERS, Monday, London Fashion, Bond, Vogue, Arsenal, England, Bukayo, Thomson Locations: London, Britain, Highbury Fields, North London

☆ Man arrested climbing into Royal Mews by Buckingham Palace
▼ + stars: | 2023-09-16 | by ( ) www.reuters.com time to read: +1 min

A fox runs past the Buckingham Palace on the first anniversary of Queen Elizabeth II's death, in London, Britain, September 8, 2023. REUTERS/Hollie Adams/File Photo Acquire Licensing RightsLONDON, Sept 16 (Reuters) - A man was arrested in the earlier hours of Saturday morning after being spotted climbing into the Royal Mews adjacent to Buckingham Palace in London, police said. Officers were alerted to reports at 1.25 a.m. (0025 GMT) of the man climbing the wall to get into the Royal Mews which backs on to the Palace garden. Police said a 25-year-old man was detained outside the stables in the Royal Mews, which is responsible for all road travel arrangements for King Charles and members of the Royal Family, and is home to the Gold State Coach. The man was arrested under the Serious Organised Crime and Police Act for trespassing and has been taken into custody, police said.

Persons: Queen Elizabeth II's, Hollie Adams, King Charles, Michael Holden, Toby Chopra Organizations: REUTERS, Royal Mews, Royal, Police, Gold, Thomson Locations: Buckingham, London, Britain

☆ Vogue World: Stars flock to Britain’s answer to the Met Gala
▼ + stars: | 2023-09-15 | by ( Nicole Mowbray | ) edition.cnn.com time to read: +6 min

London, UK CNN —It was billed as Britain’s answer to the Met Gala, and last night’s inaugural “Vogue World” at the Theatre Royal on London’s Drury Lane didn’t disappoint. Vianney Le Caer/Invision/APActress and singer Dove Cameron went back to the future in a shiny silver suit and matching bikini top. Vianney Le Caer/Invision/Vianney Le Caer/Invision/APThe late Queen Elizabeth II's granddaughter, Princess Eugenie, looked elegant in an emerald silk dress by Fendi. Vianney Le Caer/Invision/APKate Winslet went for casual chic in a loose-fit two-piece white suit with a beige bustier underneath. Vianney Le Caer/Invision/APRita Ora arrived in a black Alaïa mermaid gown sourced from eBay.

Persons: Lane didn’t, Anna Wintour, Edward Enninful —, Sienna Miller, Miller, Beatrice, Eugenie, Richard Quinn, Fendi, Yui Mok, Sadiq Khan, Baz Luhrmann, Kate Winslet, Jared Leto, Jodie Turner Smith, Maisie Williams, Stella McCartney, Christopher Kane, Victoria Beckham, Olivier, Stephen Daldry, John Galliano, Kate Moss, Hongni Wu, Rambert, Stormzy, Sophie Okonedo, Damien Lewis, Cush Jumbo, James Corden, Damian Lewis, James McAvoy, “, Annie Lennox, Naomi Campbell, Cindy Crawford, Linda Evangelista, Christy Turlington, Mike Marsland, AJ Odudu, Robert Wun, Vianney Le Caer, Dove Cameron, Queen Elizabeth II's, Princess Eugenie, Fendi . Vianney Le Caer, Princess Beatrice, David M, Alison Mosshart, Alexa Chung, Nicklas Skovgaard, Anna Shaffer, David Fisher, Carrie Mulligan, Henry Nicholls, Jenna Coleman, Peter Pan, May Jagger, Jerry Hall, Mick Jagger, Vivienne Westwood, Tom Daley, Gemma Chan, Louis Vuitton, Rita Ora, Hollie Adams Organizations: UK CNN, Theatre Royal, US, British Vogue, London, London’s, BAFTA, National Theatre, Royal Opera House, Royal Ballet, Southbank Sinfonia, Rambert, Getty, Rodarte’s, MTV, Model, eBay, Reuters Locations: London, UK, British, Invision, AFP

☆ Romance in the air as Paul Costelloe, Bora Aksu open London Fashion Week
▼ + stars: | 2023-09-15 | by ( Sarah Mills | ) www.reuters.com time to read: +3 min

LONDON, Sept 15 (Reuters) - Paul Costelloe opened London Fashion Week on Friday, with the Irish designer saying he was "bringing back a bit of romance" to the catwalks with feminine dresses and soft, fluid looks. "(I'm) bringing back a bit of romance and a bit of femininity into fashion," Costelloe told Reuters. [1/5]A model presents a creation on the day of the Paul Costelloe catwalk show during London Fashion Week in London, Britain, September 15, 2023. As in previous years, this year's cohort will showcase their collections at London Fashion Week, which runs until Tuesday. "It is really difficult for our young designer businesses to get partnership and sponsorship opportunities for their shows.

Persons: Paul Costelloe, Costelloe, We’ve, Paul, Hollie Adams, JW Anderson, Erdem, Molly Goddard, Alexander McQueen, Anderson, Caroline Rush, Rush, Sarah Mills, Marie, Louise Gumuchian, Alexander Smith, Mark Porter Organizations: London, Reuters, REUTERS, Burberry, British Fashion Council, BFC, London Fashion, Thomson Locations: London, Britain, Turkish, Aksu, Ottoman, New York

☆ Debate needed on impact of a digital pound, says BoE official
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: 1 min

[1/2] A woman holds an umbrella outside the Bank of England in the City of London, Britain, July 30, 2023. REUTERS/Hollie Adams/File photo Acquire Licensing RightsLONDON, Sept 12 (Reuters) - A "national conversation" is needed on whether to press ahead with a digital version of the pound, given concerns over privacy and other "anxieties", Bank of England deputy governor designate Sarah Breeden said on Tuesday. Breeden, currently an executive director at the Bank, told parliament's Treasury Committee that the impact on financial stability is also a concern regarding a digital pound. Reporting by Huw Jones and Muvija M, editing by Sachin RavikumarOur Standards: The Thomson Reuters Trust Principles.

Persons: Hollie Adams, Sarah Breeden, Breeden, Huw Jones, Muvija, Sachin Ravikumar Organizations: Bank of England, City of, REUTERS, Bank of, Bank, Treasury, Thomson Locations: City, City of London, Britain

☆ Meta's VR technology is helping to train surgeons and treat patients, though costs remain a hurdle
▼ + stars: | 2023-09-09 | by ( Ashley Capoot | ) www.cnbc.com time to read: +14 min

David Paul Morris | Bloomberg | Getty ImagesJust days before assisting in his first major shoulder-replacement surgery last year, Dr. Jake Shine strapped on a virtual reality headset and got to work. Kettering Health Dayton is one of dozens of health systems in the U.S. working with emerging technologies like VR as one tool for helping doctors to train on and treat patients. Since the beginning of last year, Meta's Reality Labs unit, which develops the company's VR and AR, has lost over $21 billion. Meta Quest 3 VR headset. "The first virtual reality headset that I used was this big clunky headset that had all these wires it had to be connected to a laptop to function."

Persons: Mark Zuckerberg, David Paul Morris, Jake Shine, Shine, Zuckerberg, didn't, Jan Herzhoff, Brennan Spiegel, Spiegel, Caitlin Rawlins, Rawlins, there's, Brent Bamberger, Reem, she's, it's, Daboul, PrecisionOS, Danny Goel, Richard Miller, he's, Miller, They're, It's, Goel, Kettering's Bamberger, Rafael Grossmann, Grossmann, Glass, Hollie Adams Organizations: Bloomberg, Getty, Kettering Health Dayton, CNBC, Meta, VR, Facebook, Labs, Apple, Elsevier Health's, U.S . Department of Veterans Affairs, Spiegel, Software, Doctors, PrecisionOS, University of Rochester, Portsmouth Regional Hospital, Google, of Fine Locations: San Jose , California, U.S, Ohio, Sinai, Los Angeles, Cedars, New Hampshire, Mayfair , London

A pedestrian carrying an umbrella walks along the River Thames in view of City of London skyline in London, Britain, July 31, 2023. REUTERS/Hollie Adams/File Photo Acquire Licensing RightsSYDNEY, Aug 25 (Reuters) - Australia's second-largest pension fund plans to open its first overseas office by mid-2024, its chief investment officer said on Friday, the latest retirement manager to look overseas as the country's pension sector outgrows the home market. The team will "almost certainly" be based in London and only be small because ART relies mostly on external managers, Patrick said, adding the office would likely open between now and mid-2024. A decision on a second overseas office would be made 12 to 24 months after the first opens. ART invests roughly two-thirds of all new money funds overseas.

Persons: Hollie Adams, Ian Patrick, Patrick, HarbourVest, Neuberger Berman, Lewis Jackson, Praveen Menon, Jacqueline Wong Organizations: REUTERS, Rights, Reuters, Stepstone, AustralianSuper, Nikkei, Thomson Locations: City, London, Britain, New York, China

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

☆ Morning Bid: Markets brace for BOE as China PMI cheers
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +3 min

The BOE is leaning toward a 25 basis point hike after the inflation gods took some pity on the UK last month. Investors and economists will be sure to inspect the BOE's growth and inflation forecasts for indications of just how sticky the central bank thinks inflation has become. Not to be overshadowed by monetary policy, earnings reports roar back into focus on Thursday with Apple (AAPL.O) at the forefront. China kicks off a long line of PMI releases today with better-than-expected services activity, giving markets a bit of good news after disappointing data on Monday. In Japan, the stock market continued to feel the drag from U.S. chip firms on Thursday morning, with the Nikkei (.N225) seeing broad-based losses.

Persons: Hollie Adams, Brigid Riley, BOE, Jerome Powell isn't, hasn't, Stryker, Fed's Barkin, Jacqueline Wong Organizations: Bank of England, City of, REUTERS, Bank of, CPI, Reuters Graphics, ECB, Apple, Moderna, PMI, HK, Nikkei, Royce, Infineon, Adidas AG, BMW, Fed's, Thomson Locations: City, City of London, Britain, United States, China, Japan, U.S, Expedia, France, Italy, Sweden, Spain, Germany, Euro

☆ Bank of England caught between inflation fight and recession risk
▼ + stars: | 2023-08-02 | by ( William Schomberg | ) www.reuters.com time to read: +5 min

A woman carrying a Union Flag umbrella stands near the Bank of England in the City of London, Britain, July 30, 2023. Analysts and investors are mostly expecting a quarter-point increase in Bank Rate, taking it to a 15-year high of 5.25%. But they also say they must quash an inflation rate that is the highest among major economies. INFLATION THREATBritish consumer price inflation fell by more than expected in June to 7.9% in annual terms, down sharply from 8.7% in May. Reuters GraphicsHOUSING MARKETThe most obvious impact of the increase in the BoE's Bank Rate from 0.1% in December 2021 to the current 5.0% has been in the housing market.

Persons: Adams, BoE, Andrew Bailey, Bailey, GfK, Sumanta Sen, Kripa Jayaram, Vincent Flasseur, Tomasz Janowski Organizations: Flag, Bank of England, City of, REUTERS, Analysts, Reuters, Nationwide, Halifax, insolvencies, Reuters Graphics LABOUR, Reuters Graphics Reuters, Reuters Graphics, Thomson Locations: City, City of London, Britain, BoE's, England, Wales, Germany

☆ Bank of England set to raise rates for 14th time in a row
▼ + stars: | 2023-08-02 | by ( David Milliken | ) www.reuters.com time to read: +4 min

A pedestrian carrying an umbrella walks near the Bank of England in the City of London, Britain, July 30, 2023. Market expectations for peak Bank Rate reached 6.5% on July 11 after data showed record wage growth before falling back to 5.75% after a sharp decline in consumer price inflation. Investors see a two-in-three chance of the BoE raising Bank Rate to 5.25% on Thursday but for most economists polled by Reuters the BoE's decision is finely balanced. However, some BoE critics argue it risks causing an unnecessary downturn, and that higher rates are a poor tool to tackle inflation caused by higher food and energy prices. "The main winners are banks, whose profits have flourished thanks to higher rates," said Fran Boait, co-executive director of campaign group Positive Money.

Persons: Hollie Adams, Bailey, BoE, Rishi Sunak, James Smith, Smith, Andrew Bailey, Dave Ramsden, Swati Dhingra, Silvana Tenreyro, Megan Greene, Fran Boait, ING's Smith, David Milliken, William Schomberg, Giles Elgood Organizations: Bank of England, City of, REUTERS, U.S . Federal Reserve, European Central Bank, Mortgage, Investors, Reuters, ING, Kroll Institute, Monetary, Thomson Locations: City, City of London, Britain, Germany

Search resuls for: "Hollie"

25 mentions found