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☆ 'She Shreds': Skateboarding Girls up Their Game at California Contest
▼ + stars: | 2023-11-09 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +4 min

At the 12th annual Exposure Skate competition this month in the California beach town of Encinitas, girls under 10 and in their teens were shredding. "I hope girls' skateboarding improves even more and we can push each other and beat the boys," Suganami added with a laugh. Parents of the skateboarding girls are equally stoked by the expertise and the attention. "They are missing that girls are the future of skateboarding and girls can be good at skateboarding too," said Lulu Johnson. "So what you will see if you go to a skate park or skateboarding contest, is the competitors are cheering each other, supporting each other.

Persons: Mike Blake ENCINITAS, Cona Suganami, Suganami, Amelia Brodka, Brodka, Tony Hawk, Hawk, Lauren Wigo, Marisol Concha, Lisa Lilley, Ruby, Lilley, Mindy Johnson, Lulu, Lulu Johnson, extol, Mike Blake, Mary Milliken, Lincoln Organizations: Reuters Locations: Mike Blake ENCINITAS , California, California, Encinitas, Tokyo, Poland, Park, New York City, Oceanside , California, Minnesota

Persons: Jordyn Barratt, Mike Blake, Cona Suganami, Suganami, Amelia Brodka, Brodka, Tony Hawk, Hawk, Lauren Wigo, Marisol Concha, Lisa Lilley, Ruby, Lilley, Mindy Johnson, Lulu, Lulu Johnson, extol, Mary Milliken, Lincoln Organizations: REUTERS, Reuters, Thomson Locations: Hawaii, Encinitas , California, U.S, , California, California, Encinitas, Tokyo, Poland, Park, New York City, Oceanside , California, Minnesota

To studio executives who negotiated with the SAG-AFTRA president, the former star of "The Nanny" prolonged a strike while she relished her high-profile role. As president of the 160,000-member SAG-AFTRA union, Drescher won widespread praise from performers for her tenacity in fighting for better wages and protections against the rising threat of artificial intelligence technology. Drescher framed her actions as part of a broader labor movement battling Corporate America, where, in her view, executives place Wall Street's approval and their own compensation ahead of the welfare of workers. Studio executives, who declined to criticize Drescher publicly to avoid inflaming labor talks, said the 66-year-old Drescher delivered similar unvarnished critiques to industry leaders during closed-door negotiations. "Her interest as the union president is to see all performers, from background to the top 2%, succeed in a vibrant industry for the next century and beyond."

Persons: Fran Drescher, Duncan Crabtree, Fran Fine, Drescher, Kate Bond, Jill Morgan, AFTRA, Wall, Norma Rae, Ivy Kagan Bierman, Loeb & Loeb, Shari Belafonte, Belafonte, Bob Iger, Ted Sarandos, Kimberly Westbrook, Fran, Westbrook, Justine Bateman, Alex Plank, Bobby Cannavale, Robert De Niro, Ezra, She's, Plank, Dawn Chmielewski, Lisa Richwine, Mary Milliken, Rosalba O'Brien, Gerry Doyle Organizations: SAG, Writers Guild of America, Hollywood, Netflix, Broadway, CBS, Corporate America, Loeb &, NBC, Walt Disney, Amazon Studios, Thomson Locations: Los Angeles , California, U.S, ANGELES, Queens, Ireland

[1/2] Palestinians carry their belongings as they flee their houses, amid the ongoing conflict between Israel and Palestinian Islamist group Hamas, in Gaza City November 7, 2023. In a letter to Biden, more than 100 Democrats led by U.S. The humanitarian protections would only be available to Palestinians already in the U.S., not those in the war zone or refugees in other countries. The lawmakers called on Biden to use the Temporary Protected Status (TPS) or Deferred Enforced Departure (DED) programs to provide the relief. Some Democrats, civil rights and immigrant advocates criticized the bill, with Democratic Representative Bill Pascrell calling it "absolutely despicable."

Persons: Mohammed Al, Masri, Joe Biden, Biden, Dick Durbin, Biden's, Donald Trump, Ryan Zinke, Bill Pascrell, Ted Hesson, Rami Ayyub, Mary Milliken, Aurora Ellis Organizations: Hamas, REUTERS, Rights, Democratic, Wednesday, U.S, West Bank, TPS, Republican, Republicans, Palestinian Authority, Thomson Locations: Israel, Palestinian, Gaza City, United States, Gaza, Israeli, U.S, Oslo, Washington

☆ Bank of England central counterparty stress tests confirm resilience
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +1 min

The Bank of England is seen in the City of London, Britain, February 14, 2017. REUTERS/Hannah McKay Acquire Licensing RightsLONDON, Nov 8 (Reuters) - The Bank of England on Wednesday said results of stress tests on central counterparties (CCPs) showed continued resilience at the businesses, which help clear and settle trades in financial instruments and commodities essential for the global economy. "The results confirm the continued resilience of UK CCPs to market stress scenarios that are of equal and greater severity than the worst-ever historical market stresses," said Sarah Breeden, the BoE's Deputy Governor for Financial Stability. The stress tests covered three central counterparties which operate in Britain, ICE Clear Europe Limited (ICE.N), LCH Limited, a part of LSEG (LSEG.L), and LME Clear Limited, owned by Hong Kong Exchanges and Clearing Ltd (0388.HK). The BoE said it would use the findings "to support and inform its ongoing supervision and regulation of UK CCPs".

Persons: Hannah McKay, Sarah Breeden, BoE, William James, David Milliken, Sarah Young Organizations: of, City of, REUTERS, Bank of England, Financial Stability, ICE Clear Europe, LCH, LME Clear, Hong Kong Exchanges, Clearing, HK, LME, Thomson Locations: of England, City, City of London, Britain, LSEG, LME Base

The SAG-AFTRA union posted a message on X, the social media platform formerly known as Twitter, saying its negotiating committee is determined to secure the best deal and bring a responsible end to the strike. "We need a fair contract to make sure this career is viable now AND in the future." Last week, union leaders expressed "cautious optimism" that a deal could be reached soon but also said there were gaps between the two sides on various issues including the use of AI. Actors are seeking assurances that their digital likenesses will not be used without their permission. Reporting by Dawn Chmielewski and Lisa Richwine in Los Angeles Editing by Mary Milliken and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Duncan Crabtree, Fran Drescher, Walt Disney, Dawn Chmielewski, Lisa Richwine, Mary Milliken, Matthew Lewis Organizations: SAG, Alliance, Television Producers, Amazon, Hollywood, Walt, Netflix, Thomson Locations: ANGELES, Los Angeles

☆ UK house prices rise in October for first time since March: Halifax
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Toby Melville/File Photo Acquire Licensing RightsLONDON, Nov 7 (Reuters) - British house prices ended six months of consecutive falls in October, reflecting a lack of homes being put up for sale, but prices are still lower than a year ago, mortgage lender Halifax said on Tuesday. Halifax, part of Lloyds Banking Group (LLOY.L), said house prices in October were 1.1% higher than the month before, the first increase since March on a seasonally adjusted basis, after a 0.3% monthly drop in September. This is likely to have strengthened prices in the short-term, rather than prices being driven by buyer demand, which remains weak overall," Kim Kinnaird, director of Halifax Mortgages, said. Compared with a year earlier, house prices in October were 3.2% lower versus a 4.5% annual decline in September, leaving the average house price at 281,974 pounds ($347,279), nearly 10,000 pounds lower than a year earlier. Halifax said it expected further falls in house prices, and a return to growth in 2025.

Persons: Toby Melville, Kim Kinnaird, Kinnaird, David Milliken, Sarah Young, Kate Holton Organizations: REUTERS, Halifax, Lloyds Banking Group, Bank of England, Thomson Locations: Bristol, Britain, Halifax

☆ UK house prices end six-month losing streak - Halifax
▼ + stars: | 2023-11-07 | by ( David Milliken | ) www.reuters.com time to read: +2 min

Compared with a year earlier, house prices in October were 3.2% lower versus a 4.5% annual decline in September, leaving the average house price at 281,974 pounds ($347,279), nearly 10,000 pounds lower than a year earlier. British house prices surged during the COVID-19 pandemic due to low interest rates, greater demand and temporary tax breaks. Halifax's house price index is still 18% higher than it was in February 2020, despite a 4% fall since its peak in June 2022. Halifax said it expected house prices to fall further this year, with a return to growth in 2025. "The high cost of borrowing alone is not sufficient to trigger the leg down in house prices we predicted," Capital economist Andrew Wishart said.

Persons: Toby Melville, Kim Kinnaird, Huw Pill, BoE, Kinnaird, Andrew Wishart, David Milliken, Sarah Young, Kate Holton, Bernadette Baum Organizations: REUTERS, Halifax, Lloyds Banking Group, The Bank of England, Capital Economics, Thomson Locations: Bristol, Britain, Halifax, British

☆ 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

☆ UK services businesses 'skirt with recession' in Oct-PMI survey
▼ + stars: | 2023-11-03 | by ( David Milliken | ) www.reuters.com time to read: +2 min

The composite PMI - which includes weak data from the smaller manufacturing sector released on Tuesday - rose to 48.7 from 48.5 in September. "Forward-looking survey indicators suggested that service providers will continue to skirt with recession," Tim Moore, economics director at S&P Global, said. "A shallow downturn in UK service sector activity persisted in October as businesses struggled to make headway against a backdrop of worsening domestic economic conditions and stretched household budgets." The services PMI showed the weakest rise in businesses' input costs since February 2021, as falling raw material costs and discounting by suppliers offset continued upward pressure from rising wage bills and fuel costs. Prices charged by services companies rose by the most in three months, although the increases were smaller than in the first half of the year.

Persons: Hannah McKay, Tim Moore, BoE, David Milliken, Susan Fenton Organizations: REUTERS, P, PMI, P Global, Bank of England, Thomson Locations: London, Britain, September's, United States

☆ UK workers see record pay rises, but inflation eats them up
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

Median weekly earnings for full-time employees fell by 1.5% on the year when adjusted for the Consumer Prices Index including owner occupiers' housing costs, the ONS said. Average weekly pay for all men rose by 6.8%, lagging behind a 9.1% increase for women, although the difference in pay growth was smaller when only full-time employees were considered. Median weekly full-time earnings for women were 13% lower than for men. Median gross annual earnings for all full-time employees rose 5.8% to 34,963 pounds ($42,452), a slightly smaller increase than 5.9% in the 12 months to April 2022. The Bank of England is worried that the face pace of pay growth in Britain could create a wage-price spiral.

Persons: Maja Smiejkowska, ASHE, William Schomberg, David Milliken Organizations: Boxing, REUTERS, Britain's, National Statistics, The Bank of England, Thomson Locations: London, Britain

☆ California wildfire, fueled by desert winds, forces evacuations
▼ + stars: | 2023-10-31 | by ( Omar Younis | ) www.reuters.com time to read: +2 min

[1/5] A firefighter works to extinguish the Highland Fire, a wind driven wildfire near Aguanga, California, U.S., October 31, 2023. REUTERS/Mike Blake Acquire Licensing RightsTEMECULA, California, Oct 31 (Reuters) - A Southern California wildfire fueled by desert winds burned 2,487 acres (1,010 hectares) and prompted evacuation orders for more than 4,000 people in Riverside County, officials said on Tuesday. The seasonal phenomenon occurs when dry desert air blows toward the ocean, creating a fire hazard in Southern California. Some 1,220 homes and 4,270 residents were under mandatory evacuation orders, with another 1,136 homes and 3,976 residents under evacuation warnings, Cal Fire spokesperson Thomas Shoots said. Southern California has had a mild fire year in 2023, after unusually heavy rainfall that included the first tropical storm to reach heavily populated areas in the state in 84 years.

Persons: Mike Blake, Thomas Shoots, Barb Bommarito, Robert Duke, Duke, Omar Younis, Daniel Trotta, Mary Milliken, Jonathan Oatis, Tom Hogue Organizations: REUTERS, Rights, Highland Fire, California Department of Forestry, Fire Protection, Fire, Cal Fire, Thomson Locations: Aguanga , California, U.S, Rights TEMECULA , California, Southern California, Riverside County, Santa, Temecula, Aguanga, Carlsbad , California

Fish and Wildlife Service (FWS) has partnered with the Association of Zoos and Aquariums (AZA) to launch last week a pilot Wildlife Confiscations Network in Southern California. Southern California is considered an epicenter for trafficked wildlife, much of it from Asian countries. Criminal networks and syndicates have built illegal wildlife trade into a multi-billion dollar a year criminal enterprise, Ashe said. [1/5]A critically endangered radiated tortoise, who was confiscated in 1998 and named Ninja, is shown eating at the Los Angeles zoo as the U.S. Back at the FWS Office of Law Enforcement, a room holds taxidermied trafficked animals and birds, horns and ivory.

Persons: Dan Ashe, AZA, Ashe, Moka, San Diego . Speed, Jake Owens, Owens, Braxton, Rene Galindo, Ray Hernandez, Mary Milliken, Jorge Garcia, Sandra Maler Organizations: Los Angeles Zoo, U.S . Fish, Wildlife Service, Association of Zoos, Aquariums, Wildlife Confiscations Network, El Paso , Texas ., Lions, Tigers, Bears, Wildlife Confiscations, LA Zoo, Los Angeles International Airport, LAX, CITES, FWS, Law, Thomson Locations: Bali, U.S, Southern California, Miami, El Paso , Texas, El Paso , Texas . Southern California, Bengal, Mexico, California, San Diego ., Los Angeles, Los, LAX

☆ US says Israel must protect civilians in Gaza, stop Jewish settler violence
▼ + stars: | 2023-10-29 | by ( Doina Chiacu | ) www.reuters.com time to read: +4 min

In a round of television interviews, Sullivan said Washington was asking hard questions of Israel, including on issues surrounding humanitarian aid, distinguishing between terrorists and innocent civilians and on how Israel is thinking through its military operation. Sullivan also said Netanyahu has a responsibility to "rein in" extremist Jewish settlers in the Israeli-occupied West Bank. "It is totally unacceptable to have extremist settler violence against innocent people in the West Bank," he said. The militants also took more than 200 hostages from Israel, who are believed to be in Gaza. Medical authorities in the Gaza Strip, which has a population of 2.3 million people, say 8,005 Palestinians have been killed in Israel's campaign to obliterate the Iran-backed militants.

Persons: Khan Younis, Mohammed Salem, Jake Sullivan, Joe Biden's, Sullivan, Washington, Israel, Biden, Benjamin Netanyahu, Netanyahu, Doina Chiacu, Jasper Ward, Mary Milliken, Marguerita Choy Organizations: Hamas, REUTERS, Rights, White House, IDF, Israel Defense Forces, CNN, Israeli, West Bank, CBS, U.S, Thomson Locations: Israel, Palestinian, Gaza, White, U.S, Iran, United States

☆ 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

☆ Analysis: Middle East throws central banks yet more unknowns
▼ + stars: | 2023-10-20 | by ( Mark John | ) www.reuters.com time to read: +5 min

Now, to complicate matters for a professional caste which prides itself on being data-driven, the Middle East is throwing a new set of real but unquantifiable risks into their equations. Unless the picture changes dramatically in coming days, the European Central Bank, U.S. Federal Reserve, Bank of England and Bank of Japan are already expected to keep their policy rates on hold in meetings over the next two weeks. ECB rate-setter Yannis Stournaras, the governor of the Greek central bank, argued that Europe had broadly managed to absorb the effects of rising energy costs triggered by the Ukraine war and hoped it could do the same if further shocks emerged. For now, the conflict remains largely confined to Israel and Gaza, something S&P Global Market Intelligence said in a study this week was already "muddying the waters" for central banks. As the Fed's Powell put it: "Our institutional role at the Federal Reserve is to monitor these developments for their economic implications, which remain highly uncertain".

Persons: Jerome Powell, David Westin, Brendan McDermid, Powell, Huw Pill, Yannis Stournaras, Tetsuya Hiroshima, Fed's Powell, Dan Burns, Balazs Koranyi, Francesco Canepa, Maria Martinez, Leika, Kevin Yao, David Milliken, Tomasz Janowski Organizations: Federal, Anchor, Bloomberg, Street, Economic, of New, REUTERS, Bank of England, International Monetary Fund, European Central Bank, U.S, Federal Reserve, Bank of Japan, Fed, ECB, Reuters Graphics, Reuters, Tokai, Toyota Motor Corp, P Global Market Intelligence, Thomson Locations: of New York, New York City, U.S, Israel, Ukraine, Iran, Hormuz, Europe, United States, Japan, Gaza, Washington, Frankfurt, Berlin, Tokyo, Beijing, London

☆ UK 30-year borrowing costs rise to highest since 1998
▼ + stars: | 2023-10-20 | by ( David Milliken | ) www.reuters.com time to read: +2 min

A bus passes the Bank of England in the City of London, Britain, February 14, 2017. Ten-year gilt yields were 2 basis point higher on the day at 4.69%, not far off a 15-year high of 4.755% set on Aug. 17. The BoE has raised its interest rate 14 times since December 2021 to 5.25%, but investors think it is now on pause, with only a 13% chance of a rate rise on Nov. 2 after its next meeting. The chances of a further quarter-point rate to 5.5% by March next year stand at around 55%. Reporting by David Milliken; editing by William JamesOur Standards: The Thomson Reuters Trust Principles.

Persons: Hannah McKay, Liz Truss, Jerome Powell, Richard Hunter, Jeremy Hunt, BoE, David Milliken, William James Our Organizations: Bank of England, City of, REUTERS, Treasury, Federal, Interactive Investor, Bank of, Thomson Locations: City, City of London, Britain

☆ As actors strike hits 100 days, hope mixes with financial angst
▼ + stars: | 2023-10-20 | by ( Rollo Ross | ) www.reuters.com time to read: +2 min

[1/4] SAG-AFTRA members walk the picket line on the 100th day of their ongoing strike outside Paramount Studios in Los Angeles, California, U.S., October 20, 2023. On the picket line outside Netflix on Friday, striking actors were grateful for a proposal by A-list Hollywood actors like George Clooney to pitch in $150 million to the SAG-AFTRA union over three years to help end the strike. The strike has disrupted film and television production, leaving thousands of crew members without work as well as the actors. But talks between the studios and the actors union broke down last week as the sides clashed over streaming revenue and the use of artificial intelligence. “The feeling is that we’re going to keep strong, we’re going to keep going," said Kevin Grossman, adding "I certainly don’t feel like we should stop.

Persons: Mario Anzuoni, George Clooney, Richard Speight, they’re, ” Vincenza, I’ve, Kevin Grossman, Rollo Ross, Mary Milliken, David Gregorio Our Organizations: Paramount Studios, REUTERS, Netflix, Hollywood, SAG, Thomson Locations: Los Angeles , California, U.S, Los Angeles

☆ UK budget deficit undershoots forecast in Sept: ONS
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +1 min

A view of the financial district in London, Britain, September 23, 2023. REUTERS/Matthew Childs/File photo Acquire Licensing RightsLONDON, Oct 20 (Reuters) - Britain recorded a smaller-than-expected budget deficit of 14.347 billion pounds ($17.37 billion) in September, the Office for National Statistics said on Friday. A Reuters poll of economists had pointed to public sector net borrowing, excluding state-owned banks, of 18.3 billion pounds. Government borrowing between April and September, the first half of the 2023/24 financial year, totalled 81.7 billion pounds, 15.3 billion pounds more than in the first half of the previous financial year. British finance minister Jeremy Hunt is due to give a mid-year update on his budget plans alongside new borrowing forecasts from the Office for Budget Responsibility (OBR) on Nov. 22.

Persons: Matthew Childs, Jeremy Hunt, Hunt, David Milliken, William James Our Organizations: REUTERS, National Statistics, Hunt's Conservative Party, Thomson Locations: London, Britain

☆ UK retail sales slide in September as warm weather hurts clothing demand
▼ + stars: | 2023-10-20 | by ( David Milliken | ) www.reuters.com time to read: +2 min

LONDON, Oct 20 (Reuters) - British retail sales fell more than expected in September as shoppers delayed buying autumn clothing due to unseasonably warm weather, against the backdrop of broader cost of living pressures, official figures showed on Friday. "It was a poor month for clothing stores as the warm autumnal conditions reduced sales of colder weather gear. Clothing sales volumes fell 1.6%, and household goods stores saw a 2.3% drop in sales, which the ONS attributed to ongoing cost of living pressures. While retail sales volumes surged in mid 2021 when shops fully reopened in Britain after COVID-19 restrictions, purchases have steadily fallen since and for the past year sales volumes have been below pre-pandemic levels. Retail sales in the third quarter were likely to subtract 0.04 percentage points from the growth rate of gross domestic product over the period, the ONS said.

Persons: Grant Fitzner, Sterling, David Milliken, William James Our Organizations: National Statistics, ONS, U.S, Thomson Locations: Russia, Ukraine, Britain

☆ 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 consumer confidence tumbles in October as inflation still weighs: GfK
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

The GfK consumer confidence index, Britain's longest-running survey of its type, dropped to a three-month low of -30 in October from September's reading of -21. Economists polled by Reuters had forecast a modest improvement to -20, and the nine-point drop was the largest since a one-off survey GfK did at the start of the COVID-19 pandemic in 2020. "This sharp fall underlines that the cost-of-living crisis, and simply not having enough money to make-ends-meet, are still exerting acute pressure for many consumers," Joe Staton, client strategy director at GfK, said. Households' willingness to make major purchases recorded an especially sharp monthly fall, which GfK said would worry retailers in the run-up to Christmas, although the level of the index remained above where it was in October 2022. The poll of 2,000 individuals aged 16 and over took place from Oct. 2 and Oct. 13.

Persons: Joe Staton, Staton, GfK, David Milliken Organizations: Reuters, Thomson Locations: British

These showed that a rise in fuel prices between August and September put upward pressure on the annual CPI rate, which economists had expected to drop to 6.6%. "Progress in bringing inflation down is proving slow, with the UK generating higher levels of inflation than any other major industrialised nation," said Ian Stewart, chief economist at accountancy firm Deloitte. "The persistence of underlying inflation, and service price pressures, suggests that interest rates are likely to stay close to current levels for much of the next year," he added. Services price inflation - another CPI component the BoE studies - rose to 6.9% in September from 6.8%. British consumer price inflation remains the highest in the Group of Seven advanced nations, with France and Italy the nearest with rates of 5.7% and 5.6% respectively for September.

Persons: Ian Stewart, BoE, Rishi Sunak, Jeremy Hunt, Bernadette Baum, Toby Chopra Organizations: Bank of England, Office, National Statistics, Deloitte, Seven, Thomson Locations: British, August's, Ukraine, France, Italy

[1/5] A Venezuelan migrant boards a repatriation flight as a part of an immigration enforcement process, at the Valley International Airport, in Harlingen, Texas, U.S. October 18, 2023. Corey Price, a senior ICE official, said that the agency aimed to send several deportation flights to Venezuela per week. Reuters reported on Wednesday that the Biden administration plans to provide some sanctions relief for Venezuela's oil and gas sector in response. Jennifer Piper, a Colorado program director with the American Friends Service Committee, called it "deeply cruel and deadly" and urged the Biden administration "to end deportations to dangerous locations immediately." Reporting by Liliana Salgado and Daniel Becerril in Harlingen, Texas; Writing by Ted Hesson in Washington; Editing by Mary Milliken and Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

Persons: Daniel Becerril, Joe Biden, Biden, Jason Owens, Owens, Corey Price, Jennifer Piper, Liliana Salgado, Ted Hesson, Mary Milliken, Aurora Ellis Organizations: International, REUTERS, Rights, Biden, . Immigration, Customs Enforcement, U.S, Border Patrol, ICE, Reuters, American Friends Service Committee, Thomson Locations: Venezuelan, Harlingen , Texas, U.S, Rights HARLINGEN , Texas, Venezuela, Caracas, Mexico, United States, Texas, Colorado, Washington

☆ UK regular pay growth slows for first time since January
▼ + stars: | 2023-10-17 | by ( David Milliken | ) www.reuters.com time to read: +4 min

Private-sector regular pay - the component looked at most closely by the BoE - saw annual growth slow to 8.0% in the three months to August, from 8.1%. Regular pay, adjusted for CPI inflation, grew by an annual 0.7% in the three months to August. Reuters GraphicsSLUGGISH ECONOMYBank of England Chief Economist Huw Pill said on Monday that fast rates of nominal pay growth stood at odds with most other labour market measures, which have pointed to a slowing economy. The number of job vacancies in the three months to September fell to a two-year low of 988,000, Tuesday's data showed. Unemployment figures and other related labour market data will not be published until Oct. 24, after the ONS said on Friday it needed more time to take account of low response rates.

Persons: Kevin Coombs, BoE, James Smith, Jeremy Hunt, Rishi Sunak, Huw Pill, payrolls, Ashley Webb, Webb, Sachin Ravikumar, William Schomberg, Bernadette Baum Organizations: REUTERS, LONDON, Bank of England, Britain's, National Statistics, Reuters, U.S, Bank, England's, ING, Private, of England, International Monetary, Capital Economics, Thomson Locations: Canary Wharf, London, Britain

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