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Slump in UK retail sales eases in September, CBI says
  + stars: | 2023-09-25 | by ( ) www.reuters.com   time to read: +2 min
The CBI's September monthly retail sales survey - conducted between Aug. 25 and Sept. 13 - showed the headline balance rebound to a three-month high of -14 from August's more than two year low of -44. "There are some elements of optimism in our survey with retailers expecting the recent fall in sales to continue to ease," CBI Principal Economist Martin Sartorius said. Retailers' expected sales balance for October rose to a three-month high of -8. Britain's most recent official retail sales data showed a 0.8% month-on-month growth in sales volumes in August after a sharp 1.1% drop in July, when unusually wet weather upset normal summer spending patterns. The chief executive of supermarket Aldi UK said on Monday that cost of living concerns continued to influence food shopping habits.
Persons: Peter Nicholls, Martin Sartorius, David Milliken, Kylie MacLellan Organizations: REUTERS, of British Industry, CBI, Bank of, Aldi, Thomson Locations: London, Britain, Bank of England
Home Secretary Suella Braverman walks on Downing Street on the day of a cabinet meeting, in London, Britain September 5, 2023 REUTERS/Peter Nicholls/File Photo Acquire Licensing RightsLONDON, Sept 24 (Reuters) - British interior minister Suella Braverman will raise the "the unsustainable pressures" created by illegal migration when she makes a three-day visit to the U.S. this week, her office said on Sunday. "Illegal migration and the unprecedented mass movement of people across the globe is placing unsustainable pressures on America, the UK and Europe," Braverman said in the statement. Braverman, who will travel to Washington on Monday, will seek closer collaboration with the U.S. on addressing illegal migration and organised immigration crime. "I'm going to Washington to discuss this (illegal migration) crisis with our American counterparts. If we fail to meet these challenges, then our political institutions risk losing their democratic legitimacy," Braverman said.
Persons: Suella Braverman, Peter Nicholls, Braverman, Rishi Sunak, Biden, Alejandro Mayorkas, Muvija, Mike Harrison Organizations: REUTERS, Home Office, U.S, Homeland, American, Thomson Locations: London, Britain, America, Europe, Rwanda, U.S, Mexico, Washington
A day after Britain's fast pace of price growth unexpectedly slowed, the BoE's Monetary Policy Committee voted by the narrowest margin of 5-4 to keep Bank Rate at 5.25%. But rate futures suggested they still saw a 50% chance of Bank Rate rising to 5.5% by the end of this year. Britain's economy, hit hard by Brexit, the COVID-19 pandemic and the surge in gas prices triggered by Russia's invasion of Ukraine, has been struggling with the highest inflation rate in the Group of Seven. But growth remains fragile, heightening the risk that the BoE's 14 back-to-back rate hikes will push the economy into a recession. Last week, the European Central Bank raised rates but suggested its move might be the last for now.
Persons: Andrew Bailey, Jon Cunliffe, Megan Greene, Jonathan Haskel, Catherine Mann, BoE, Reuters Graphics Sterling, Bailey, Rishi Sunak, Peter Nicholls, Frances Haque, Reuters Graphics Bailey, Yael Selfin, Hugh Gimber, William Schomberg, Catherine Evans Organizations: Bank of England, Reuters Graphics, U.S ., MPC, REUTERS, Santander UK, IF, U.S . Federal Reserve, European Central Bank, KPMG, Investors, Bank of, Morgan Asset Management, Thomson Locations: Ukraine, London, Britain
EY rolls out AI-powered platform after $1.4 bln tech investment
  + stars: | 2023-09-13 | by ( ) www.reuters.com   time to read: +1 min
The EY company logo is seen at their headquarters in London, Britain, April 16 2023. The EY.ai platform has AI-embedded versions of the firm's products like the data management product EY Fabric, which is used by 60,000 clients, the company said. Every business is considering how it will be integrated into operations and its impact on the future," EY Global Chairman and CEO Carmine Di Sibio said. EY said it plans to train its staff in the technology and will release a large-language model (LLM) called EY.ai EYQ. Reporting by Jaspreet Singh in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.
Persons: Peter Nicholls, EY, Carmine Di Sibio, Thomson, Jaspreet Singh, Pooja Desai Organizations: REUTERS, KPMG, Accenture, Dell, SAP, Thomson Reuters, Reuters News, Thomson Locations: London, Britain, Bengaluru
UK foreign minister to warn of Iran threat on visit to Israel
  + stars: | 2023-09-10 | by ( ) www.reuters.com   time to read: +2 min
On the visit that begins on Monday, Cleverly will hold talks with Israeli Prime Minister Benjamin Netanyahu and Palestinian Prime Minister Mohammed Shtayyeh. He will hold talks with Israeli Foreign Minister Eli Cohen and attend a demonstration of Israel's "Iron Dome" missile defence system. During a visit to the Palestinian territories, Cleverly will visit the Jalazone refugee camp in the West Bank to see Palestinian refugees. Violence in the West Bank has worsened over the past year with frequent Israeli raids and Palestinian street attacks. The Palestinians have limited self-rule in the West Bank and remain split between a Western-backed administration and armed Hamas Islamists who reject coexistence with Israel.
Persons: James, Peter Nicholls, Benjamin Netanyahu, Mohammed Shtayyeh, Eli Cohen, Andrew MacAskill, Edmund Blair Organizations: British, REUTERS, Israeli, Palestinian, Iran, West Bank, West, Thomson Locations: London, Britain, Israel, Iran, West Bank, Gaza, East Jerusalem, Israel's
A branch of Barclays Bank is seen, in London, Britain, February 23, 2022. REUTERS/Peter Nicholls/File Photo Acquire Licensing RightsLONDON, Sept 8 (Reuters) - Barclays is drawing up plans to cut hundreds of jobs, two sources familiar with the matter told Reuters, as the bank trims its costs while embarking on a wider strategy review. Bloomberg reported earlier on Friday that the bank was weighing hundreds of job losses. Venkatakrishnan is separately embarking on a wider strategy review, amid some investor dissatisfaction at the bank's underperformance relative to Wall Street investment banks. Barclays' Wall Street rivals have also cut jobs this year, as investment banking revenues are taking a long time to recover.
Persons: Peter Nicholls, Venkatakrishnan, Morgan Stanley, Goldman Sachs, Iain Withers, Tatiana Bautzer, Jonathan Oatis Organizations: Barclays Bank, REUTERS, Barclays, Bloomberg, C.S, Wall, Citigroup, Thomson Locations: London, Britain, British
A view shows signage on a branch of Barclays Bank in London, Britain, March 17, 2023. REUTERS/Peter Nicholls Acquire Licensing RightsSept 8 (Reuters) - Barclays Plc (BARC.L) is planning to cut hundreds of jobs across its trading and investment bank divisions, Bloomberg News reported on Friday, citing people familiar with the matter. The report added that the British lending group is planning to remove about 5% of client-facing staff in the trading division along with some dealmakers globally, as well as restructure teams within its UK consumer-banking unit. Reporting by Amna Karimi in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.
Persons: Peter Nicholls, Amna, Maju Samuel Organizations: Barclays Bank, REUTERS, Barclays Plc, Bloomberg, Thomson Locations: London, Britain, Bengaluru
UK has not backed down in tech encryption row, minister says
  + stars: | 2023-09-07 | by ( ) www.reuters.com   time to read: +2 min
Britain's Secretary of State for Science, Innovation and Technology Michelle Donelan walks on Downing Street in London, Britain March 15, 2023. Junior minister Stephen Parkinson appeared to concede ground to the tech companies' arguments on Wednesday, saying in parliament's upper chamber that the Ofcom communications regulator would only require them to scan content where "technically feasible". Tech companies have said scanning messages and end-to-end encryption are fundamentally incompatible. Donelan, however, denied on Thursday that the bill had been watered down in the final stages before it becomes law. She said further work to develop the technology was needed, but added that government-funded research had shown it was possible.
Persons: Technology Michelle Donelan, Peter Nicholls, Michelle Donelan, Stephen Parkinson, Paul Sandle, Helen Popper Our Organizations: State for Science, Innovation, Technology, REUTERS, Junior, Ofcom, Tech, Times Radio, Thomson Locations: London, Britain
The Standard Chartered bank logo is seen at their headquarters in London, Britain, July 26, 2022. The change in CFO will not likely impact Winters' departure timing greatly, Britzman said, with the StanChart CEO more focused on hitting the lender's key performance goals. De Giorgi previously held senior roles at Bank of America Merrill Lynch, including head of global investment banking. Before then, he worked in equity capital markets and financial institutions at Goldman Sachs (GS.N), rising to become chief operating officer for the investment bank by the time of his departure in 2012. That long period of underperformance has seen the bank's shares fall nearly 30% since Winters took over as CEO in June 2015.
Persons: Peter Nicholls, Diego De Giorgi, Andy Halford, De Giorgi, Halford, Matt Britzman, Hargreaves, Bill Winters, Frederic Oudea's, Winters, Britzman, We've, Bank of America Merrill Lynch, Goldman Sachs, Joe Dickerson, StanChart, underperformance, Iain Withers, Lawrence White, Radhika Anilkumar, Bernadette Baum, David Holmes Organizations: Chartered, REUTERS, Bank of America, Pegasus, British, Societe Generale, Goldman, Jefferies, Thomson Locations: London, Britain, Pegasus Europe, Asia, Africa, Bengaluru
The Standard Chartered bank logo is seen at their headquarters in London, Britain, July 26, 2022. Riyadh-headquartered AviLease, also known as Aircraft Leasing Co, is a jet lessor owned by Saudi Arabia's sovereign wealth fund. StanChart said in January it was exploring options for its global aviation finance business. Dublin-based Standard Chartered Aviation Finance owns and manages more than 120 aircraft and offers services including jet fuel hedging, debt financing and remarketing of unneeded planes. PIF is setting up startup carrier Riyadh Air to predominantly serve the kingdom’s capital, which has ambitions to become a global business hub.
Persons: Peter Nicholls, StanChart, Simon Cooper, Airfinance, Fahad Al, Saif, AviLease, Rishav Chatterjee, Shounak Dasgupta, Mark Potter Organizations: Chartered, REUTERS, Aircraft Leasing Co, Chartered Aviation Finance, Aviation Finance, Corporate, Institutional Banking, Standard Chartered, Saudi Public Investment Fund, Riyadh Air, Thomson Locations: London, Britain, Saudi Arabia, Riyadh, Saudi, Dublin, Europe, Bengaluru
Soccer Football - Premier League - Chelsea v Nottingham Forest - Stamford Bridge, London, Britain - May 13, 2023 Chelsea's Kepa Arrizabalaga during the warm up before the match REUTERS/Peter Nicholls/File PhotoMADRID, Aug 14 (Reuters) - Real Madrid and Chelsea have reached an agreement for goalkeeper Kepa Arrizabalaga's season-long loan to the Spanish club, the clubs announced on Monday. He has reportedly been targeted by Bayern Munich as the German side are seeking to replace their own injured goalkeeper, Manuel Neuer, but Real Madrid moved faster to secure the deal. Courtois joined Real from Chelsea in 2018 after winning two Premier League titles, the FA Cup and the League Cup during his time at Stamford Bridge. Real Madrid had only one other goalkeeper in their first team squad, Ukraine's Andriy Lunin. The 24-year-old Lunin has made only nine Spanish league appearances for the club since signing from Zorya Luhansk in 2018.
Persons: Kepa, Peter Nicholls, Kepa Arrizabalaga's, Thibaut Courtois, Arrizabalaga, Robert Sanchez, Manuel Neuer, Courtois, Ukraine's Andriy Lunin, Fernando Kallas, Robert Birsel Organizations: Soccer Football, Premier League, Chelsea, Nottingham Forest, REUTERS, Real Madrid, Athletic Bilbao, Brighton & Hove Albion, Bayern Munich, Real, League, FA, Stamford, Liverpool, Zorya, Leganes, Thomson Locations: Stamford, London, Britain, Real, Spanish, Paris, Zorya Luhansk, Spain, Valladolid, Oviedo
Monaco sign Ghana defender Salisu from Southampton
  + stars: | 2023-08-01 | by ( ) www.reuters.com   time to read: +1 min
Soccer Football - Premier League - Southampton v Wolverhampton Wanderers - St Mary's Stadium, Southampton, Britain - February 11, 2023 Southampton's Mohammed Salisu in action with Wolverhampton Wanderers' Adama Traore REUTERS/Peter Nicholls/File PhotoAug 1 (Reuters) - AS Monaco have signed Ghana defender Mohammed Salisu from English second-tier side Southampton on a five-year contract, both clubs said on Tuesday. Local media reported that the Ligue 1 side paid Saints about 15 million euros ($16.53 million) for the 24-year-old. Salisu joined Southampton in August 2020 from Real Valladolid. He made nearly 70 Premier League appearances before Southampton were relegated last season. Salisu made his Ghana debut in September 2022 in a 3–0 friendly defeat by Brazil.
Persons: Southampton's Mohammed Salisu, Adama Traore, Peter Nicholls, Mohammed Salisu, Salisu, Otto Addo, Anita Kobylinska, Ken Ferris Organizations: Soccer Football, Premier League, Southampton, Wolverhampton Wanderers, Adama Traore REUTERS, AS Monaco, Local, Ligue, Saints, Real Valladolid, Monaco, Thomson Locations: Mary's, Southampton, Britain, Ghana, Real, Brazil, Qatar, Ghana's, South Korea, Gdansk
REUTERS/Peter NichollsSummarySummary Companies 11.3 mln Britons faced hunger in 20223 mln food parcels provided by Trussell Trust in 2022/23 yearIneffective social security system blamedLONDON, June 28 (Reuters) - One in seven people in the United Kingdom faced hunger last year because they did not have enough money, according to a report published on Wednesday by food bank charity the Trussell Trust. Government forecasters estimate UK households are in the midst of the biggest two-year squeeze in living standards since comparable records started in the 1950s. "This consistent upward trajectory exposes that it is weaknesses in the social security system that are driving food bank need, rather than just the pandemic or cost of living crisis," it said. The charity said that 7% of the UK population was supported by charitable food support, including food banks, yet 71% of people facing hunger had not yet accessed any form of charitable food support. Soaring food prices have contributed to the biggest squeeze on living standards in Britain since records began in the 1950s, and prompted questions about who is responsible.
Persons: Jerald, Aryee, Daniel Kennett, Brown, Peter Nicholls, Rishi Sunak's, they've, James Davey, Aurora Ellis Organizations: Volunteers, REUTERS, Trussell Trust, LONDON, Trussell, Department for Work, Soaring, Trade, Thomson Locations: Greenwich, London, Britain, United Kingdom, Scotland
[1/2] The HSBC headquarters is seen in the Canary Wharf financial district in east London February 15, 2015. The ripple effects of so many companies slashing office space has significantly impacted wider markets. 'GENIE OUT OF THE BOTTLE'HSBC for its part has one of the most aggressive targets to cut office space among major employers, with a commitment to axe around 40% globally. Canary Wharf Group, the Docklands commercial landlord, declined to comment. One of the Canary Wharf estate's newer developments, the YY building - a recently completed redevelopment of Thomson Reuters' former headquarters opposite Canary Wharf station - remains vacant, Bloomberg has reported.
Persons: Peter Nicholls, Tony Travers, Travers, Knight Frank, Weil, Gerardine Davies, HSBC's, Moody's, YY, Andrew Mawson, Iain Withers, Chiara Elisei, Sinead Cruise, Paul Sandle, Mark Potter Organizations: HSBC, REUTERS, Companies, London School of Economics, of, Perenna Capital Management, BT, UBS, City of London Corporation, Canary, Canary Wharf Group, Docklands, Thomson Reuters, Bloomberg, Workplace Associates, Employees, Thomson Locations: Canary, London, St Paul's Cathedral, of London, Real, Sweden, Aldgate, City, Swiss, Docklands, Canary Wharf
[1/2] John B. Goodenough, 2019 Nobel Prize in Chemistry winner, speaks during a news conference at the Royal Society in London, Britain October 9, 2019. REUTERS/Peter Nicholls/File PhotoJune 26 (Reuters) - Nobel laureate John Goodenough, a pioneer in the development of lithium-ion batteries that today power millions of electric vehicles around the globe, died on Sunday just a month short of his 101st birthday. In recent years, Goodenough and his university team had also been exploring new directions for energy storage, including a “glass” battery with solid-state electrolyte and lithium or sodium metal electrodes. Goodenough also was an early developer of lithium iron phosphate (LFP) cathodes as an alternative to nickel- and cobalt-based cathodes. After completing a bachelors in mathematics at Yale University, Goodenough received an masters and a PhD in physics from the University of Chicago.
Persons: John B, Goodenough, Peter Nicholls, John Goodenough, , Jay Hartzell, Britain's Stanley Whittingham, Japan's Akira Yoshino, Paul Lienert Organizations: Royal Society, REUTERS, University of Texas, Chemistry, Royal Swedish Academy of Sciences, Yale University, University of Chicago, Massachusetts Institute of Technology, University of Oxford, Thomson Locations: London, Britain, Austin, Jena, Germany, Detroit
REUTERS/Peter Nicholls/File PhotoLONDON, June 13 (Reuters) - The chair of Britain's COVID-19 inquiry pledged to put the bereaved and those who suffered at the heart of her work as she began main hearings on Tuesday into how the coronavirus pandemic was handled. Former prime minister Boris Johnson had ordered the inquiry to look into the United Kingdom's preparedness as well as the public health and economic response after Britain recorded one of the world's highest death tolls from COVID. Module one, which is looking into Britain's preparedness for the pandemic, opened on Tuesday. The inquiry has held preliminary hearings, but this week will see the first evidence heard in the inquiry since it was formally launched in June 2022. With a national election expected next year, the detailed examination of decision-making could create political headaches for current Prime Minister Rishi Sunak, who was finance minister during the pandemic.
Persons: Peter Nicholls, Britain's, Boris Johnson, Johnson, Heather Hallett, Rishi Sunak, Alistair Smout, William Maclean Organizations: National, REUTERS, Britain, Thomson Locations: London, Britain, COVID
[1/2] Former British Prime Minister Boris Johnson walks at the parliament in London, Britain, March 22, 2023. He also took aim at current Prime Minister Rishi Sunak. lawmaker Andrea Jenkyns wrote in a Conservative Party WhatsApp group, according to a screenshot shared by a Sky News reporter. Ed Davey, leader of the Liberal Democrats opposition party, said Johnson jumped before he was pushed. "He was never fit to be an MP let alone Prime Minister of our great country," Davey said.
Persons: Boris Johnson, Peter Nicholls, Boris Johnson's, Johnson, Rishi Sunak, Rishi, Andrea Jenkyns, Jenkyns, Dame, Boris, John Redwood, Johnson's, Henry Hill, Hill, Nadine Dorries, Angela Rayner, They've, Ed Davey, Davey, Andy Bruce, Mike Harrison, Frances Kerry Organizations: British, REUTERS, Peter Nicholls LONDON, Conservative Party, Labour Party, Conservative, Conservative Party WhatsApp, Sky News, BBC, Sunak's, Liberal Democrats, Thomson Locations: London, Britain, Downing, Brexit
Parliament's privileges committee - the main disciplinary body for lawmakers - had the power to recommend Johnson be suspended from parliament. Johnson hinted that he could return to politics, declaring he was leaving parliament "for now". The investigation is chaired by a senior Labour Party lawmaker, but the majority of lawmakers on the committee are Conservatives. A spokesperson for the committee said Johnson had "impugned the integrity" of parliament with his resignation statement. Johnson used his resignation statement on Friday to deliver an attack on the premiership of Sunak, whom he partly blames for ending his government.
Persons: Boris Johnson, Johnson, Brexit, britannique Boris Johnson, Peter Nicholls, Rishi Sunak, Nadine Dorries, Angela Rayner, Sunak, David Milliken, Daniel Wallis Organizations: Labour, LONDON, British, Conservative Party, Labour Party, L'ancien, Conservatives, Johnson's, Thomson Locations: Downing, London, Brexit, Britain, à Londres
Standard Chartered CEO says big U.S. recession unlikely
  + stars: | 2023-05-08 | by ( Yousef Saba | ) www.reuters.com   time to read: +3 min
[1/2] The Standard Chartered bank logo is seen at their headquarters in London, Britain, July 26, 2022. REUTERS/Peter NichollsDUBAI, May 8 (Reuters) - Standard Chartered (STAN.L) Chief Executive Bill Winters said on Monday he sees a big recession in the United States as unlikely, although a period of negative growth was possible. "I think it's less the question of a massive decline in the U.S. - I think that's very, very unlikely," Winters said at conference in Dubai, adding the economy was "extremely strong". I think unlikely. First Abu Dhabi Bank, the UAE's biggest lender, earlier this year had considered a bid to take over Standard Chartered, but later said it was no longer doing so.
LONDON, May 6 (Reuters) - Police arrested the leader of the anti-monarchy group Republic hours before King Charles' coronation on Saturday and a number of other protesters who had gathered among the crowds lining the procession route in central London. "NOT MY KING"[1/2] An anti-monarchy demonstrator holds stickers ahead of Britain's King Charles’ procession to his coronation ceremony from Buckingham Palace to Westminster Abbey, at The Mall in London, Britain May 6, 2023. REUTERS/Peter Nicholls 1 2Some anti-monarchy protesters had held up signs saying "privatise them" and "abolish the monarchy, not the right to protest", and "Not My King". Most of the anti-monarchy protesters on Saturday had congregated in Trafalgar Square next to the bronze statue of King Charles I, who was beheaded in 1649, leading to a short-lived republic. While many other European monarchies have come and gone, or are far diminished in scale and importance, the British royal family has remained remarkably resilient.
[1/3] Akshata Murty, the wife of British Prime Minister Rishi Sunak meets with U.S. first lady Jill Biden at Downing Street in London, Britain May 5, 2023. REUTERS/Peter NichollsLONDON, May 5 (Reuters) - U.S. First Lady Jill Biden met British Prime Minister Rishi Sunak's wife Akshata Murty at Downing Street on Friday as she visited London to represent the United States at King Charles' coronation. Jill Biden, 71, will visit a local school on Friday afternoon along with Murty before meeting staff at the U.S. embassy and King Charles at a reception in Buckingham Palace. U.S. President Joe Biden has faced some criticism, notably from his predecessor and potential 2024 election rival Donald Trump, for skipping Charles' coronation. Biden visited Belfast and Ireland last month to commemorate the 25th anniversary of the Good Friday peace pact.
China continues to expand its fleet of J-20 stealth jets and to operate them farther from home. On March 24, 1999, NATO began airstrikes against Serbian military targets in response to Serbian atrocities in Kosovo. On May 7, 1999, US B-2 stealth bombers hit the Chinese embassy in the Serbian capital of Belgrade, killing three Chinese citizens. ReutersUnder the circumstances, there would seem to be little connection between the destruction of an American warplane and the bombing of the Chinese embassy. The US detected signals from the debris and bombed the embassy but failed to destroy the F-117 wreckage there, the articles claimed.
Jeremy Selwyn/WPA Pool/Getty Images Camilla stands next to Queen Elizabeth II during a Diamond Jubilee pageant on the River Thames in June 2012. Chris Jackson/Getty Images From left, Camilla, Charles, Queen Elizabeth II and Prince Philip attend the state opening of Parliament in May 2013. From left are Camilla, Charles, Queen Elizabeth II, Prince Louis, Duchess Catherine, Princess Charlotte, Prince George and Prince William. Frank Augstein/WPA Pool/Getty Images In pictures: Britain's Queen Camilla Prev NextShe reportedly met Prince Charles at a polo match in Windsor in 1970 and they became friends. From left are Camilla, Charles, Queen Elizabeth II, Prince Louis, Duchess Catherine, Princess Charlotte, Prince George and Prince William.
GMB's backing means the offer has been accepted by four unions representing National Health Service (NHS) workers whose members include midwives, physiotherapists and ambulance workers. The NHS Staff Council, which includes representatives from NHS employers and trade unions, is due to meet on May 2 to vote on whether to accept the offer. The GMB's leadership said it would now vote in favour of the pay offer, after 56% of its members who voted in a ballot accepted the deal. "This new pay offer would not have happened without the strike action taken by ambulance and other GMB health workers," said Rachel Harrison, GMB National Secretary. "Our members recognise that progress has been made - from the government originally offering nothing, health workers will be thousands of pounds better off."
Growth at EY’s U.S. operation has slowed every month since December. Photo: PETER NICHOLLS/REUTERSOn a staff call this week, a senior Ernst & Young executive delivered an exhortation to the troops: Bill clients “every hour we can get our hands on.”A failed breakup attempt cost the company $600 million. Employees are angry. But that might be the least of it: The outlook for EY’s business of charging for advice and accounting is getting weaker in the U.S. by the month.
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