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"We've been talking about impending recession for several quarters now," said Malone, whose Virginia Beach-based company has a national footprint. So has unexpectedly strong consumer spending and, for the world outlook, the reopening of China's economy from strict COVID lockdowns. That poured cold water on the idea that the Fed would "pivot" on a dime to lower rates. "Government bond yields are up" since the last Fed policy meeting, Durham wrote. "It kind of seems the U.S. economy might be more resilient than markets thought six or eight weeks ago."

☆ The UK's lagging economy shows some signs of recovery
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +3 min

JP Morgan last week raised its projection for gross domestic output growth in 2023 to 0.4% from a previous estimate of 0.1%. Britain is the only Group of Seven (G7) economy still smaller than before the coronavirus pandemic. Below is a summary of recent gauges of the economy and how investors have increased their bets on future BoE rate hikes. Reuters GraphicsUK AS G7 LAGGARDDespite the improvement signs, Britain lags its peers in terms of its recovery from the pandemic. Data to the end of 2022 shows Britain is the only G7 economy yet to recover its level of the end of 2019.

REUTERS/Toby MelvilleLONDON, Feb 27 (Reuters) - British energy regulator Ofgem on Monday lowered its price cap on household energy bills from April, but it will offer little relief to consumers as costs continue to rise. The cap sets a maximum price suppliers can charge consumers for each kilowatt hour (kWh) of energy they use, but it has been superseded by a government-backed energy price guarantee (EPG) that limits the maximum costs of energy. "Although wholesale prices have fallen, the price cap has not yet fallen below the planned level of the Energy Price Guarantee. If wholesale prices continue to fall, the price cap could be lowered again in July, potentially reducing bills, the regulator said. British Gas owner Centrica (CNA.L) this month posted record annual profit of 3.3 billion pounds on soaring energy prices and production.

☆ I made nearly $5,000 in 30 days from writing online. Here's my best advice for others who want to make money.
▼ + stars: | 2023-02-26 | by ( Dayana Sabatin | ) www.businessinsider.com time to read: +7 min

Sabatin said writing as many posts as possible gives you the best chance at making more money. If you'd asked me if I'd be making money from writing my thoughts and opinions online, I would've laughed in your face. "Write or don't eat"I kept a sticky note on my computer with the words "write or don't eat" written on it. Trust me, I thought it was at first too, but the two cents I made my first month of writing online humbled me. It took me nearly two years to make $5,000, and that was from hustling daily and having multiple writing income streams.

☆ Chelsea coach Potter calls for patience after fresh defeat
▼ + stars: | 2023-02-26 | by ( William Schomberg | ) www.reuters.com time to read: +2 min

Speaking after a 2-0 defeat at the home of arch-rivals Tottenham Hotspur - the 13th time in 15 games in all competitions that Chelsea have failed to win - Potter said he was frustrated and disappointed by the latest setback. Potter also highlighted Liverpool boss Juergen Klopp's inability to halt the slide in form of his side after winning the Champions League and the Premier League in recent years. Potter also faced questions from reporters about his side's inability to score, having found the net only once in their last five league games. The loss of several players through injury and easing them back into action, plus integrating a host of new signings, represented challenges, Potter added. "So as a team, we're just not quite there in terms of how we want it to look and how we want to really function in a good way.

☆ UK's Sunak wants to 'get the job done' on Brexit with Northern Ireland deal
▼ + stars: | 2023-02-25 | by ( ) www.reuters.com time to read: +2 min

"There's unfinished business on Brexit and I want to get the job done," Sunak told The Sunday Times newspaper in an interview. Sunak said he would try to resolve the concerns of the Democratic Unionist Party (DUP) which is worried about the EU retaining influence over Northern Ireland. Ireland's prime minister Leo Varadkar told reporters earlier on Saturday that Britain and the EU were inching forwards and an agreement was possible, but not guaranteed, in the coming days. Sunak, in a nod to the DUP's worries, said the Good Friday peace agreement for Northern Ireland had been unbalanced by the Brexit deal for the province's trade rules. He said the shooting of a police officer on Wednesday "reminds us of the delicate situation in Northern Ireland, the fragility of it, and we shouldn’t take it for granted.

☆ UK to offer 3,000 Eurovision tickets to displaced Ukrainians
▼ + stars: | 2023-02-25 | by ( ) www.reuters.com time to read: +1 min

LONDON, Feb 25 (Reuters) - Britain's government will make 3,000 tickets for the Eurovision Song Contest available to displaced Ukrainians after their country was unable to host the competition because of Russia's invasion last year. The government also said it would provide 10 million pounds ($12 million) of funding to help host Eurovision in May on behalf of Ukraine, which won the competition in 2022 and would normally have become host for the following year. The northern English city of Liverpool will host the 2023 Eurovision. British broadcaster BBC will stage the event, which normally draws a television audience of close to 200 million and was last held in Britain in 1998. ($1 = 0.8372 pounds)Reporting by William Schomberg; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

☆ ‘A tsunami effect’: ETF fund manager bets on the robot boom
▼ + stars: | 2023-02-25 | by ( Sean Conlon | ) www.cnbc.com time to read: +1 min

While horror robot movie "M3gan" racks up millions at the winter box office, the ETF industry is seeing opportunities from the controversial technology. According to ROBO Global CIO William Studebaker, the economic benefits could be staggering. "You're going to see a tsunami effect in terms of prices coming down as a result of deflationary pressures from these technologies," he told CNBC's "ETF Edge" on Wednesday. Studebaker manages the ROBO Global Robotics and Automation Index ETF, which is up 12% so far this year. The exchange-traded fund's holdings include IPG Photonic, Zebra Technologies, Rockwell Automation and Teradyne.

☆ UK consumers turn more confident but inflation challenges remain - GfK
▼ + stars: | 2023-02-24 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

After some other recent signs of improvement in the economy, GfK's headline consumer confidence index rose by more than expected in February, increasing by seven points to -38, climbing further away from September's -49 record low. Joe Staton, GfK's client strategy director, said consumers were suddenly more optimistic about their personal finances and the general economic situation, especially for the coming year, despite the continued hit to their incomes from high inflation. The GfK survey's measure of how consumers view the economy over the next 12 months jumped to -43 from -54 in January, while households' feelings about their personal finances increased by nine points, GfK said. Linda Ellett, UK head of consumer markets at KPMG, said consumers were turning to savings and debt as higher prices squeezed household budgets. The survey of 2,000 people was conducted between Feb. 1 and Feb. 13.

☆ G7 says it is taking action against countries supporting 'Russia's war'
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +1 min

Feb 24 (Reuters) - The Group of Seven nations (G7) is taking actions against third-country actors "materially supporting Russia's war in Ukraine," the bloc said on Friday as it reaffirmed "its unwavering support for Ukraine for as long as it takes." "We call on third-countries or other international actors who seek to evade or undermine our measures to cease providing material support to Russia’s war, or face severe costs," the G7 said in a statement. "To deter this activity around the world, we are taking actions against third-country actors materially supporting Russia’s war in Ukraine." G7 said it was taking additional measures relating to Russia’s financial sector to "further undermine Russia’s capacity to wage its illegal aggression," adding it would target additional Russian financial institutions. Reporting by Sakura Murakami in Tokyo and Sachin Ravikumar and Muvija M in London; editing by William SchombergOur Standards: The Thomson Reuters Trust Principles.

☆ A quarter of British firms expect to raise prices in March, ONS says
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +1 min

LONDON, Feb 23 (Reuters) - The proportion of British businesses expecting to raise prices in March fell marginally, adding to signs that price pressures may have peaked, a survey published on Thursday showed. The Office for National Statistics said 25% of trading businesses expected to increase the prices of goods or services they sell over the next month. British consumer price inflation slowed to 10.1% in January, cooling from a 41-year high of 11.1% in October. Nearly half of firms in accommodation and food services intended to hike prices - the highest proportion of all sectors. Of all the firms surveyed over the last two weeks, 35% cited energy costs as the main reason for increasing prices.

LONDON, Feb 23 (Reuters) - Bank of England interest rate-setter Catherine Mann said on Thursday that it was too soon to say the risks posed by the surge in inflation last year had eased and that the central bank should continue to raise borrowing costs. The BoE raised interest rates to 4% earlier this month but signalled it was close to ending a run of increases which began in December 2021. She has previously argued in favour of raising borrowing costs sharply in the face of an inflation rate that remains above 10%, even though the BoE has forecast that it will fall sharply this year. Two other members of the Monetary Policy Committee - Swati Dhingra and Silvana Tenreyro - voted to pause the rate hikes at this month's meeting. Mann also said that she believed that in normal times, interest rate changes took their full effect faster than the 18-24 months which economists have previously estimated.

☆ Reaching maximum employment will help close the racial wealth gap, says Howard University economics professor William Spriggs
▼ + stars: | 2023-02-22 | by ( Macklin Fishman | ) www.cnbc.com time to read: +2 min

Reaching maximum employment will help close the racial wealth gap, according to AFL-CIO chief economist and Howard University economics professor William Spriggs. In an interview with CNBC, Spriggs said the impact of discrimination against Black employees is less acute when the labor market operates at full employment. "When we have a really poor labor market, white high school dropouts do better than Black people with associate degrees," Spriggs explained. While Black Americans do withdraw from the labor market when the market collapses, Spriggs said this is not always reflected in the data on Black labor force participation. Implicit bias can also affect economic data and policy by dictating the questions that analysts ask, Spriggs said.

☆ How the Fed can close the racial wealth gap: AFL-CIO's William Spriggs
▼ + stars: | 2023-02-22 | by ( Macklin Fishman | Lindsey Jacobson | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow the Fed can close the racial wealth gap: AFL-CIO's William SpriggsAFL-CIO chief economist and Howard University economics professor William Spriggs says that the impact of discrimination against Black employees is less acute when the labor market operates at full employment. He tells CNBC how the Federal Reserve can close the racial wealth gap and how an economic slowdown might affect Black workers.

☆ The George Santos AI Chatbots
▼ + stars: | 2023-02-21 | by ( Holman W. Jenkins | ) www.wsj.com time to read: 1 min

Holman W. Jenkins Jr. is a member of the editorial board of The Wall Street Journal. Mr. Jenkins joined the Journal in May 1992 as a writer for the editorial page in New York. In February 1994, he moved to Hong Kong as editor of The Asian Wall Street Journal's editorial page. Mr. Jenkins won a 1997 Gerald Loeb Award for distinguished business and financial coverage. Born in Philadelphia, Mr. Jenkins received a bachelor's degree from Hobart and William Smith Colleges and a master's degree in journalism from Northwestern University.

☆ UK's Hunt says U.S. green subsidy act a 'very real competitive threat'
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +2 min

LONDON, Feb 21 (Reuters) - British finance minister Jeremy Hunt said on Tuesday the United States' Inflation Reduction Act, that promises hundreds of billions of dollars of subsidies to green industries, was a "very real competitive threat". "This is not a time when it's going to be easy for us to access the GDP equivalent of $369 billion," Hunt said, speaking at a green energy conference in London. "We have to remember in that equation that the U.S. is somewhat coming from behind, because the previous president was not remotely interested in net zero," Hunt said in response to a question on the Inflation Reduction Act. "So there is some catch-up element in what the U.S. is doing, but it is a very real competitive threat." Asked when the British government policy response could be announced, Hunt told reporters: "In the next few months, we are not hanging around on this.

☆ Putin Doesn’t Have a Plan to Win
▼ + stars: | 2023-02-17 | by ( Holman W. Jenkins | ) www.wsj.com time to read: 1 min

☆ Here's the bear case for artificial intelligence
▼ + stars: | 2023-02-16 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

Now that ChatGPT unleashed a firestorm of interest in artificial intelligence investing, it may be time to urge some calm for investors. AI YTD mountain AI software provider C3.ai has seen its stock more than doubled as investors look to hop on the artificial intelligence trend. Here's the bear case for artificial intelligence. That's about seven times more than the cost to run a typical Google search, which Nowak estimated to be $0.003, or not even half of one cent. Separately, the lack of proper citation from generative AI could mean future lawsuits for AI companies.

☆ 60,000 miles of US roads could be under water in a few decades. Here's how experts say we can save our critical infrastructure.
▼ + stars: | 2023-02-16 | by ( Bianca Giacobone | ) www.businessinsider.com time to read: +9 min

"In the Keys, if you redo your house, you have to mitigate it for sea level rise," he told Insider. The islands are particularly exposed to rising sea levels. Across the country, you can expect coastlines to rise an average of 10 to 12 inches over the next 30 years, according NOAA's Sea Level Rise Viewer, which lets you adjust sea level rise and visualize how in trouble your house or your commute might be. Then, he started doing what NOAA recommends, reading about sea level rise and the plans that individual communities are studying to increase their own resiliency. By understanding how to adapt incrementally, and starting to act as soon as possible, the US can learn how to adapt to rising sea levels.

☆ UK inflation rate falls more than expected to 10.1%
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Henry NichollsLONDON, Feb 15 (Reuters) - British consumer price inflation fell by more than expected to 10.1% in January from December's 10.5% and there were also drops in underlying measures of price growth that are being closely watched by the Bank of England, official data showed. Investors expect another increase in borrowing costs next month by the BoE but Wednesday's data may add to the sense that a peak in Bank Rate is not far off. "While any fall in inflation is welcome, the fight is far from over," finance minister Jeremy Hunt said. The ONS said transport and hospitality prices helped to drag down inflation last month. All other things being equal, slowing inflation suggests further economic weakness ahead and, possibly, an uptick in unemployment."

☆ 6 ways to attract Gen Z job seekers — and what they value most in companies
▼ + stars: | 2023-02-15 | by ( Alli Hoff Kosik | ) www.businessinsider.com time to read: +7 min

The current hiring market is competitive, but companies can take steps to attract Gen Z job seekers. Gen Z is no different. When looking for job opportunities, Gen Zers — those currently under the age of 26 — will be attentive to things that may not have been prioritized by previous generations. Talent-development expert Chelsea Williams, whose national workforce and development company Reimagine Talent works closely with many Gen Z professionals, shared six things companies need to prioritize in order to stand out to Gen Z job seekers. Connect job applicants with new Gen Z hires as much as you can during the interview and hiring process.

☆ UK basic pay growth speeds up, but labour market cools a bit
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +2 min

Pay excluding bonuses rose by 6.7%, its fastest since records began in 2001 apart from during the coronavirus pandemic when changes in incomes were distorted by furloughs of workers. However, total pay grew by an annual 5.9% in the October-to-December period, the slowest increase since the three months to July last year. Economists polled by Reuters had expected the ex-bonuses measure to increase by 6.5% and total pay to rise by 6.2%. The pace of pay growth in Britain is being monitored closely by the BoE as it gauges how much higher to raise interest rates. Vacancies in the November-to-January period fell for a seventh time in a row, down by 76,000 to 1.134 million.

☆ UK firms plan biggest pay rises since 2012 to fill staff gaps
▼ + stars: | 2023-02-13 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

Expected median annual pay awards in 2023 rose to 5% - the highest since CIPD records began in 2012 - from 4% in the previous three months. The survey also showed the gap between public and private employers' wage expectations widened. Planned pay settlements in the public sector fell to 2% from 3% in the quarter before, compared to 5% in the private sector, the CIPD said. The results highlighted the squeeze on living standards as key workers including nurses, teachers and public transport staff stage a series of strikes over pay and work conditions. BoE Governor Andrew Bailey last week expressed concerns about wage-setting, despite signs that the surge in inflation has turned a corner.

☆ Be 'really, really careful' on inflation - Bank of England's Haskel
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: 1 min

LONDON, Feb 13 (Reuters) - Bank of England interest rate-setter Jonathan Haskel said the BoE should be "really, really careful" about the risk of high inflation becoming embedded and he would watch data closely in the coming months given the high levels of uncertainty. "What I would prefer to do is make policy with much more attention on the data flow over the next few months," Haskel said in an interview published by website The Overshoot on Monday. Haskel, an external member of the Monetary Policy Committee, said last week he remained ready to "act forcefully" against persistent inflation, a phrase dropped by the majority of his colleagues earlier this month. Writing by William Schomberg, Editing by Kylie MacLellanOur Standards: The Thomson Reuters Trust Principles.

☆ Hugh Hudson, director of 'Chariots of Fire', dies aged 86
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +1 min

LONDON, Feb 10 (Reuters) - British film director Hugh Hudson, best known for making the Oscar-winning "Chariots of Fire", died on Friday aged 86, his family said. Hudson died in a London hospital after a short illness and was survived by his wife Maryam, his son Thomas and his first wife Sue, the family statement said. "Chariots Of Fire", the story of British athletes competing at the 1924 Olympics, swept the Oscars in 1981, winning the best picture and three other Academy Awards. Not all his works were a success: "Revolution" - an ambitious portrayal of the American War of Independence - was a 1985 box-office flop. Writing by William Schomberg; Editing by Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.

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