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☆ Britain to create new regime to deal with insurance company failures
▼ + stars: | 2023-08-02 | by ( Huw Jones | ) www.reuters.com time to read: +3 min

REUTERS/Hollie Adams/File PhotoLONDON, Aug 2 (Reuters) - Britain said on Wednesday it would start work on setting up new rules specially designed to prevent a big insurance company collapse from crashing the financial system. But no such specifically tailored regime currently exists in Britain to deal with failures in the country's insurance industry, which is the fourth largest in the world. The European Union is in the process of approving its own set of rules for handling insurance company failures. In Britain, insurance company collapses currently come under modified UK company insolvency arrangements, which the finance ministry said may be less effective for an industry with 2.7 trillion pounds ($3.45 trillion) in assets. The timing of the new regime is unclear given that legislation is needed and Britain is likely to face national elections next year.

Persons: Hollie Adams, Huw Jones, Jane Merriman Organizations: Bank of England, City of, REUTERS, Regulators, Bank of, European, Shareholders, Thomson Locations: City, City of London, Britain, Silicon, Gibraltar, London

☆ NatWest reports profit rise amid fallout from Farage fiasco
▼ + stars: | 2023-07-28 | by ( ) www.cnbc.com time to read: +3 min

A sign outside a NatWest Group Plc bank branch in the City of London, UK, on Tuesday, July 25, 2023. Natwest is due to report first-half results on Friday, July 28. NatWest reported pre-tax profit of £3.6 billion ($4.6 billion) for the period, compared to £2.6 billion the prior year and above the £3.3 billion average of analyst forecasts compiled by the bank. NatWest remains under pressure over the Farage scandal. NatWest is nearly 40% taxpayer-owned following its bailout during the 2008-2009 global financial crisis, adding more weight to the government's position.

Persons: Hollie Adams, Nigel Farage, Alison Rose, Coutts, Rose, Peter Flavel, Paul Thwaite, Howard Davies, Thwaite Organizations: NatWest Group, City of, Natwest, Bloomberg, Getty, NatWest, BBC, Reuters, Rivals Barclays, Lloyds, Barclays Locations: City, City of London, Britain

☆ Simon Pegg and Brian Cox support Hollywood strike at London rally
▼ + stars: | 2023-07-21 | by ( Sarah Mills | ) www.reuters.com time to read: +2 min

[1/3] Actors Brian Cox, Jim Carter, Imelda Staunton, Andy Serkis and Simon Pegg join demonstrators at the Equity rally in Leicester Square, in solidarity with the SAG-AFTRA strikes, London, Britain, July 21, 2023. REUTERS/Hollie AdamsLONDON, July 21 (Reuters) - "Mission Impossible" star Simon Pegg and Brian Cox from "Succession" joined a rally in London on Friday in support of U.S film and television writers and actors striking for higher pay and new terms in the streaming era. Actors union SAG-AFTRA and the Writers Guild of America want increases in base pay and residuals, plus assurances they will not be replaced by artificial intelligence (AI). British actors' union Equity organised the rally in Leicester Square, where movie theatres hosted UK premieres including "Barbie" and "Oppenheimer" last week. David Oyelowo, Andy Serkis, Imelda Staunton, Naomie Harris and Hayley Atwell also joined Friday's rally, where supporters held placards saying "Equity stands in solidarity with SAG-AFTRA".

Persons: Brian Cox, Jim Carter, Imelda Staunton, Andy Serkis, Simon Pegg, Adams, Barbie, Oppenheimer, Paul Fleming, David Oyelowo, Naomie Harris, Hayley Atwell, Rob Delaney, we're, Cox, Paul Sandle, Farouq Suleiman, Sharon Singleton, John Stonestreet Organizations: Equity, SAG, REUTERS, Hollywood, Writers Guild of America, Reuters, Thomson Locations: Leicester Square, London, Britain, U.S

☆ Elton John gives evidence by videolink at Kevin Spacey's London trial
▼ + stars: | 2023-07-17 | by ( Sam Tobin | ) www.reuters.com time to read: +3 min

[1/3] Actor Kevin Spacey walks outside Southwark Crown Court, as his trial over charges related to allegations of sex offences continues, in London, Britain, July 14, 2023. REUTERS/Hollie Adams/File PhotoLONDON, July 17 (Reuters) - Singer Elton John appeared by videolink in a London court on Monday to give evidence at Oscar-winning actor Kevin Spacey's sexual assault trial. Spacey, 63, has pleaded not guilty at London's Southwark Crown Court to 12 charges of sexual offences allegedly committed against four men in Britain between 2001 and 2013. The two-time Academy Award winner on Monday called John as a witness, with the British singer appearing by videolink from Monaco. Furnish told the court he remembered asking the complainant "how is the most handsome driver in London?

Persons: Kevin Spacey, Hollie Adams, Singer Elton John, videolink, Kevin Spacey's, Spacey, groped, John, Christine Agnew, John's, David, Sam Tobin, Michael Holden, Alex Richardson Organizations: Southwark Crown, REUTERS, Old, Thomson Locations: Southwark, London, Britain, London's Southwark, British, Monaco, Windsor

☆ How AI’s astonishing productivity gains could help curb inflation
▼ + stars: | 2023-07-12 | by ( Hanna Ziady | ) edition.cnn.com time to read: +7 min

Experts say the technology will help address a steep and prolonged slowdown in productivity growth in many Western economies, which has kept businesses’ costs higher than they would otherwise be and made inflation harder to tame. “AI has huge potential to increase productivity,” BlackRock CEO Larry Fink said at the company’s Investor Day last month. Productivity gains in Europe could be similar, albeit slightly smaller, Brynjolfsson told CNN. In some cases, productivity gains could be achieved sooner. That’s because most generative AI tools live on the internet — “the technology we already have on our desks” — making them widely accessible, Brynjolfsson said.

Persons: chatbot, —, Smart, Hannes P Albert, Bill Gates, Larry Fink, Erik Brynjolfsson, ” David McMillan, ” McMillan, Hollie Adams, Neil Shearing, Martin Neil Baily, Anton Korinek, Brynjolfsson, Goldman Sachs, ” Organizations: London CNN, Microsoft, BlackRock, CNN, Stanford University, Organisation for Economic Cooperation, Development, OECD, University of Stirling, Bloomberg, Getty, “, National Statistics, IBM, Capital, Brookings Institute, University of Virginia’s Darden School of Business, America, Productivity, Google, SAP, Goldman Locations: East, Scotland, London, United Kingdom, United States, Europe, Wimbledon

☆ Bank of England surprises with 50 basis point rate hike to tackle persistent inflation
▼ + stars: | 2023-06-22 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

A passageway near the Bank of England (BOE) in the City of London, U.K., on Thursday, March 18, 2021. Hollie Adams | Bloomberg | Getty ImagesLONDON — The Bank of England on Thursday surprised markets with a 50 basis point hike to interest rates, its 13th consecutive increase as policymakers grapple with persistently high inflation. The Monetary Policy Committee voted 7-2 in favor of the half percentage point increase, which takes the bank's base rate to 5%. The move defied market expectations, which had priced in around a 60% chance of a 25 basis point hike. The MPC said that the high number of fixed-rate mortgages means that the full impact of the increase in the Bank Rate so far "will not be felt for some time."

Persons: BOE, Hollie Adams, Sterling, —, we've, Andrew Bailey, Joseph Little, Little Organizations: Bank of England, City of, Bloomberg, Getty, Monetary, MPC, Bank, HSBC Asset Management Locations: City, City of London

☆ ‘Go to hell, Shell’: Climate protesters try to storm stage at oil giant’s annual shareholders meeting
▼ + stars: | 2023-05-23 | by ( Sam Meredith | ) www.cnbc.com time to read: +5 min

The protests come as Shell faces a shareholder vote on a measure to increase its climate ambitions following a year of record profits at the company. Bloomberg | Bloomberg | Getty ImagesLONDON — Shell Chief Executive Wael Sawan and the firm's board of directors on Tuesday were shielded by security staff as climate protesters unsuccessfully tried to storm the stage at the British oil giant's annual shareholders meeting. Follow This, a small Dutch activist investor and campaign group with stakes in several Big Oil companies, tabled a resolution at Shell's shareholders meeting. For the first time, Dutch pension managers MN and PGGM — both Shell shareholders — have endorsed the resolution. The company described Climate Resolution 26 as "unclear, generic and would create confusion as to Board and shareholder accountabilities."

☆ Photos show what King Charles' reign has been like so far, from ascending the throne to a cancer diagnosis
▼ + stars: | 2023-05-08 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +1 min

Charles also greeted well-wishers on Easter 2024 after a tumultuous March for the royals. King Charles and Queen Camilla shake hands with people at Windsor Castle on Easter 2024. Hollie Adams - WPA Pool/Getty ImagesThe king and Camilla attended an Easter service at Windsor Castle on March 31, speaking to members of the public outside of St George's Chapel. Charles and Camilla were joined by his siblings and their spouses, as well as Sarah Ferguson and Charles' nephew, James, Earl of Wessex. According to royal reporter Rebecca English, the king said he was "so proud of Catherine for her courage in speaking as she did'.

Persons: Charles, King Charles, Queen Camilla, Hollie Adams, Camilla, Sarah Ferguson, James, Earl of Wessex, Prince, Princess, Kate, Wales, Buckingham, Rebecca English, Catherine Organizations: Windsor Castle Locations: Windsor, St George's, Wales, Kensington

☆ Consultancies are coming off a pandemic boom. Are they still worth hiring?
▼ + stars: | 2023-04-27 | by ( Anna Cooban | ) edition.cnn.com time to read: +9 min

Management consultancies helped design vaccination programs during the pandemic and are currently providing advice on how to rescue one of the world’s biggest banks. The $230 billion management consulting industry is a broad church: it includes companies offering everything from project management expertise to designing new organizational structures. Many big firms — think EY and KPMG — also conduct audits and advise on their clients’ tax issues, though these services are generally seen as distinct from their consulting work. In The Big Con, published in February, prize-winning economist Mariana Mazzucato and her co-author Rosie Collington argue that management consultancies “infantilize” governments by keeping them dependent on their services. Nearly 80% of firms surveyed globally have told the think-tank that consultants’ work is either of high or very high quality, she noted.

☆ A flurry of news outside the portfolio has implications for 3 of our stocks
▼ + stars: | 2023-04-13 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

Here are three noteworthy news developments over the past two days, which contain useful insights about our stocks. For the full year 2023, Novo now expects sales growth in the range of 24% and 30%, compared to prior estimates of 13% to 19%. In addition, operating profit growth is expected to be in the range of 28% and 34%, up from a prior range of 13% to 19%. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Seen Big Ben already? Here's a Londoner's guide to visiting other parts of the city
▼ + stars: | 2023-02-15 | by ( Lucy Handley | ) www.cnbc.com time to read: +11 min

Central London's City of Westminster is its political heart, while the City of London is where the capital's financial decisions happen. But be warned: Several paths across Hyde Park are pedestrian-only, and police often fine people who cycle on them. The City of London is a blend of old and new, with St Paul's Cathedral close to skyscrapers as well as Roman ruins. While north London has Hampstead Heath, south of the river is Richmond Park, which dwarfs its northern counterpart in size. There's also a branch in central London's Covent Garden — the flower-filled restaurant The Petersham — that has an sit-down deli and bar.

☆ A prominent UK cybersecurity stock is under attack from short sellers. Here's what you need to know
▼ + stars: | 2023-02-06 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

Omar Marques | SOPA Images | LightRocket via Getty ImagesCybersecurity company Darktrace , one of the U.K.'s most prominent tech names, has found itself under attack from short sellers. Short selling is a strategy in which investors bet on the price of a stock going down in value. Darktrace, one of the U.K.'s largest cybersecurity companies, was founded in 2013 by a group of former intelligence experts and mathematicians. "This has been, and remains, a very small part of Darktrace's marketing and the costs of them over the last five years has consistently been substantially below 0.5% of Darktrace's revenue," Darktrace added. The Lynch connectionIt's worth noting that, even before the QCM report, there were clouds hanging over Darktrace's business.

☆ Davos: India flexes its muscle as China's star fades
▼ + stars: | 2023-01-19 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

In 2023, as global recession fears persist, the country is expected to log the best performance of any major economy. An Invest India banner hanging from a building ahead of the World Economic Forum in Davos, Switzerland, on Monday, Jan. 16. India is also due to displace its powerful neighbor as the world’s most populous country this year. They’re a substantial asset — if India’s economy can create enough jobs. “The world needs resilience,” Tata Sons Chairman Natarajan Chandrasekaran told a Davos panel.

☆ UK train strikes will disrupt return to work this week
▼ + stars: | 2023-01-03 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

Britain’s largest transport union, RMT, said workers will strike on January 3, 4, 6 and 7. The rail strikes will make city centers “ghost towns” for another week, Nicholls said. “The sector has struggled to recover from Covid and these protracted rail strikes since May have made that bounce back much tougher,” she added. According to PwC, the average British worker’s pay in 2023 is expected to fall back to 2006 levels once inflation is taken into account. In a statement, Network Rail said that the RMT strike was “unnecessary and deeply damaging” to the railway and the economy.

☆ Nexperia and Elmos cases show how the US-China chip war is spilling over to Europe
▼ + stars: | 2022-11-25 | by ( Michelle Toh | ) edition.cnn.com time to read: +10 min

Last week, the new owner of Britain’s biggest chipmaker was ordered to unwind its takeover, just days after another chip factory sale was blocked in Germany. “These decisions mark a shift towards tougher stances regarding Chinese investment in critical industries in Europe,” said Xiaomeng Lu, director of geo‑technology at Eurasia Group. A worker in a clean room for silicon semiconductor wafer manufacturing at the Newport Wafer Fab, owned by Nexperia, in Newport, Wales on Aug. 18. A company sign of Elmos Semiconductor, seen on Nov. 9 in the German city of Dortmund. Both Britain and Germany have recently added rules that expand government oversight over such decisions, making outcomes harder to predict.

☆ Cisco deserves more love from investors as management lifts its full-year guidance
▼ + stars: | 2022-11-16 | by ( Jeff Marks | ) www.cnbc.com time to read: +9 min

Management also increased its earnings outlook for the full year, raising its range to $3.51 to $3.58 from $3.49 to $3.56. For the second quarter of fiscal 2023, management expects revenue to grow 4.5% to 6.5% year over year. Companywide results Total product revenue increased 8% year over year to $10.245 billion, beating estimates of $9.88 billion. End-to-end security (cybersecurity) revenue increased 9% year over year to $971 million, missing estimates of $1.014 billion. Total software revenue grew 5% year over year to $3.9 billion, with software subscription revenue up 11%, and 85% of software revenue subscription based.

☆ What do Indians think about Rishi Sunak’s rise? Like UK-India relations, it’s complicated
▼ + stars: | 2022-10-26 | by ( Rhea Mogul | ) edition.cnn.com time to read: +13 min

Now, an Indian-origin man has become the Prime Minister of England,” a Zee News anchor said. Leon Neal/Getty Images Sunak and Boris Johnson watch as a sheep is sheared during a visit to a farm in North Yorkshire, England, in July 2019. Danny Lawson/PA Images/Getty Images Sunak speaks during a general election debate in Cardiff, Wales, in November 2019. Hollie Adams/Bloomberg/Getty Images Sunak and Murty are seen with their daughters, Krishna and Anoushka, while campaigning in Grantham, England, in July 2022. Indian Prime Minister Narendra Modi suggested as much in a tweet welcoming Sunak’s appointment.

☆ Rishi Sunak to be Britain's new prime minister as rival Penny Mordaunt drops out
▼ + stars: | 2022-10-24 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Rishi Sunak has been named as the U.K.'s new prime minister, after beating competitor Penny Mordaunt in the country's fast-tracked leadership race. Hollie Adams | Getty Images News | Getty ImagesLONDON — Rishi Sunak will be named the U.K.'s new prime minister, following a fast-tracked Conservative Party leadership race initiated to fill the void left by Liz Truss' resignation. The 42-year-old takes over just seven weeks after placing second to Truss, who stepped down Thursday, bringing to a swift close her 44 days in office — the shortest tenure of any U.K. prime minister. Sunak, who is credited with steering the U.K. economy through the height of the Covid-19 pandemic, is broadly seen as a safe pair of fiscal hands. Indeed, after being berated by Truss during the race as a voice of Treasury orthodoxy, his critique of the PM's "unfunded tax cuts" appears to have been vindicated.

Like Truss, Sunak promised a tough approach to illegal immigration and vowed to expand the government’s controversial Rwanda immigration policy. At the time Johnson was running to lead Britain's Conservative Party and Sunak was a member of Parliament. Danny Lawson/PA Images/Getty Images Sunak speaks during a general election debate in Cardiff, Wales, in November 2019. Danny Lawson/PA/Getty Images Sunak delivers a speech during the annual Conservative Party Conference in Manchester in October 2021. Hollie Adams/Bloomberg/Getty Images Sunak and Murty are seen with their daughters, Krishna and Anoushka, while campaigning in Grantham, England, in July 2022.

☆ Boris Johnson battles to win support in shock U.K. PM comeback bid
▼ + stars: | 2022-10-23 | by ( Hyder Abbasi | ) www.nbcnews.com time to read: +5 min

LONDON — Thousands tracked his flight back to the U.K. as he returned from a Caribbean vacation, and several lawmakers have tweeted “welcome back boss,” but on Sunday, Boris Johnson was fighting to get enough support to make a shock return as Britain’s prime minister. British Prime Minister Boris Johnson speaks during a Cabinet meeting alongside Chancellor of the Exchequer Rishi Sunak in London in May. Former Conservative party leader William Hague said Friday that Johnson’s return would lead to a “death spiral” for the party. A selection of the front pages of British national newspapers showing the reaction to the resignation of Prime Minister Liz Truss in London on Friday. “A significant majority of the British people wanted him to resign as prime minister, and his approval ratings were historically low by the time he stopped being prime minister,” he said.

☆ Embattled British PM Truss loses 2nd minister in a week amid political and economic turmoil
▼ + stars: | 2022-10-19 | by ( Associated Press | ) www.nbcnews.com time to read: +5 min

British Prime Minister Liz Truss described herself as “a fighter and not a quitter” Wednesday as she faced down a hostile opposition and fury from her own Conservative Party over her botched economic plan. And within hours of Truss’ appearance in Parliament for a regular session titled Prime Minister’s Questions, she lost a senior member of her government. Truss faced another test in Parliament later Wednesday when lawmakers vote on a Labour Party motion seeking to ban fracking for shale gas — a policy that Truss recently approved. Conservative Party whips said the vote would be treated as “a confidence motion in the government,” meaning the government would fall if the motion passed, triggering an election. Some Conservative legislators believe Truss could be forced to resign if the party agrees on a successor.

☆ Shorter showers, slower driving and an Eiffel Tower blackout: How Europe plans to cut gas usage this winter
▼ + stars: | 2022-09-21 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +3 min

"We're already there … savings this month have already surpassed the 15% target," said senior energy strategist from Goldman Sachs, Samantha Dart. Kenzo Tribouillard | Afp | Getty ImagesShe added that northwestern Europe's estimated August gas consumption was 13% below average. "We believe this is more than enough savings to go through winter without blackouts or a heating crisis," Dart said, assuming that the average winter weather scenario holds. "Achieving the 15% reduction target vs business as usual will be difficult, but not impossible," Gloystein told CNBC. A cold winter could make it difficult to achieve the demand reduction needed in Europe.

☆ CUTREMURĂTOR! O fetiță de 10 ani, care se plângea că vede în ceață, a ajuns la spital și a aflat că mai are 24 de ore de trăit
▼ + stars: | 2021-06-07 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +3 min

O fetiţă de 10 ani a aflat că mai are de trăit doar 24 de ore, după ce a ajuns la spital, scrie Essex Live, citată de libertatea.ro. A fost sfâșietor. „După ce am auzit că mai are doar 24 de ore de trăit, am fost disperați să încercăm să o vedem și să o facem fericită. Hollie a fost transferată la Spitalul Great Ormond Street, unde medicii au eliminat cu succes tumoarea. NF1 este cel mai frecvent tip de neurofibromatoză și este, de asemenea, afecțiunea cu care Hollie a fost diagnosticată.

Persons: Hollie Hartley, Charlie, Hartley, devastați, Sora, Hollie, Holli, NF1 Locations: Essex, Dagenham, Ormond, Neurofibromatoza

☆ O fată de zece ani a aflat la spital că mai are doar 24 de ore de trăit; Cum a reușit să supraviețuiască
▼ + stars: | 2021-06-07 | by ( ) www.jurnal.md time to read: +1 min

Sursa foto: mirror.co.ukO fată de zece ani a aflat la spital că mai are doar 24 de ore de trăit; Cum a reușit să supraviețuiascăO fată de zece ani a ajuns de urgență la spital, iar medicii i-au descoperit o tumoare pe creier și i-au spus că mai are doar 24 de ore de trăit. Stadiul era avansat, iar medicii i-au mai dat doar o zi și o noapte de trăit. Hollie a supraviețuit celor 24 de ore și a fost transferată la Great Ormond Street Hospital din Londra, unde chirurgii au îndepărtat cu succes tumoarea, informează The Mirror. Boala se manifestă prin mai multe pete de piele cafenie sau maro deschis și apoi tumori pe sau sub piele și poate provoca, de asemenea, mărirea și deformarea și o curbură a coloanei vertebrale. Hollie va avea boala pentru tot restul vieții, revenind la spital la fiecare trei luni pentru o scanare RMN, până la 16 ani.

Persons: Hollie Locations: Great Ormond, Londra

☆ Trump and the GOP may be headed for an expensive divorce fight over donor and voter data
▼ + stars: | 2021-01-22 | by ( Dave Levinthal | Tom Lobianco | ) www.businessinsider.com time to read: +9 min

A Trump campaign spokesman did not immediately return a request for comment. Donald Trump personally trademarked the slogan, and his presidential campaign subsequently assumed the trademark. It can even generate cash for years after a political campaign goes dormant. Romney's presidential committee finally terminated itself in September, transferring much of its remaining $92,000 to Romney's US Senate campaign committee after paying off lingering bills. Donations benefited both the Trump presidential campaign and RNC.

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