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☆ Gaza needs billions in aid to reverse years of restrictions -UN trade body
▼ + stars: | 2023-10-25 | by ( Gabrielle Tétrault-Farber | ) www.reuters.com time to read: +2 min

Trucks carrying aid wait to exit, on the Palestinian side of the border with Egypt, as the conflict between Israel and Palestinian Islamist group Hamas continues, in Rafah in the southern Gaza Strip, October 21, 2023. REUTERS/Ibraheem Abu Mustafa/File Photo Acquire Licensing RightsGENEVA, Oct 25 (Reuters) - Gaza needs billions of dollars in international economic aid to compensate for years of restrictions that have stifled its economy and curbed its development, according to a report published on Wednesday by the United Nations trade body. "Donors and the international community need to extend significant economic aid to repair the extensive damage Gaza has experienced under prolonged restrictions and closures and frequent military operations, which has stifled the economy and decimated infrastructure," the report said. Nearly half of Gaza's population is unemployed, and more than half lives in poverty, the report said. "Border closures and repeated military operations have set in motion a vicious circle of economic and institutional collapse that has rendered Gaza a case of 'development in reverse,'" the report said.

Persons: Abu Mustafa, Richard Kozul, Wright, Gabrielle Tétrault, Farber, Bernadette Baum Organizations: Hamas, REUTERS, Rights, United, United Nations Conference, Trade, Development, Thomson Locations: Egypt, Israel, Palestinian, Rafah, Gaza, United Nations, Palestinian Territory, Geneva

☆ Italian PM's former partner loses TV show over sexist comments
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

Andrea Giambruno, partner of Italy's new Prime Minister Giorgia Meloni, arrives at the Quirinale Presidential Palace for the swearing-in ceremony of Italy's new government, in Rome, Italy October 22, 2022. REUTERS/Yara Nardi/File Photo Acquire Licensing RightsROME, Oct 25 (Reuters) - /Andrea Giambruno, the former partner of Italian Prime Minister Giorgia Meloni, has been taken off a television talk show he had presented before Meloni left him following sexist comments he made to female co-workers. Audio excerpts also revealed him talking about being in an affair and telling colleagues they could work with him if they took part in group sex. MFE is owned by the heirs of the late Silvio Berlusconi, a former prime minister and Meloni ally. Reporting By Gavin Jones Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrea Giambruno, Giorgia Meloni, Yara, Meloni, Giambruno, Silvio Berlusconi, Gavin Jones, Bernadette Baum Organizations: REUTERS, Rights, Italian, Thomson Locations: Rome, Italy, Giambruno

The BoE is monitoring the labour market closely as it considers whether it needs to resume raising interest rates, having kept them on hold in September after 14 hikes in a row. Under the previous methodology, the unemployment rate had been reported as 4.3% for the three months to July rather than 4.2%. Still, the new data showed more slack in the labour market than the BoE had predicted in August, when it forecast an unemployment rate of 4.1% for the third quarter as a whole. "It is probably only a matter of time before the recent loosening of the labour market feeds through into significantly slower wage growth," Pugh said. The latest ONS estimate showed employment fell by 133,000 in the three months to July, compared with 207,000 in its previous estimate.

Persons: BoE, Thomas Pugh, Pugh, Tony Wilson, Andy Bruce, William Schomberg, Paul Sandle, Bernadette Baum Organizations: Office, National Statistics, Bank of England, Labour Force Survey, RSM, ONS, Financial, Institute for Employment Studies, Thomson

☆ Vivaldi's Four Seasons gets climate change makeover
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +2 min

If today someone were to compose 'The Four Seasons' from an absolutely realistic perspective, it would be frankly daring," composer and producer Hache Costa told Reuters. It will be accompanied by projected images of wildfires and other effects of climate change, such as drought. [1/5]Spanish music director Hache Costa rehearses prior to performing an adaptation of Antonio Vivaldi's famous “The Four Seasons” concertos as a screen shows an image of flowers in spring on International Day against Climate Change in Madrid, Spain, October 24, 2023. Scientists have linked searing temperatures and dry and windy conditions in many parts of the world, including southern Europe, to climate change. Ernesto Rodriguez Camino, president of the Spanish meteorology association, said the impact of climate change in Spain was evident.

Persons: Antonio Vivaldi's, Vivaldi, Hache Costa, Hache, Costa, Ernesto Rodriguez Camino, Antoine Demaison, Silvio Castellanos, Andrei Khalip, David Latona, Bernadette Baum Organizations: Reuters, Thomson Locations: MADRID, Spanish, Italian, Madrid, Spain, Europe

☆ Freed Israeli hostage says Hamas treated her well after initial violence
▼ + stars: | 2023-10-24 | by ( Janis Laizans | ) www.reuters.com time to read: +3 min

TEL AVIV, Oct 24 (Reuters) - An elderly Israeli hostage who was released by Hamas overnight said she had been beaten by the militants when she was abducted and taken to Gaza on Oct. 7, but was then treated well during her two-week captivity in the Palestinian enclave. Yocheved Lifshitz, 85, was one of two women freed late on Monday, leaving around 220 hostages still in the hands of Hamas, including both of their husbands. "I've been through hell," Lifshitz told reporters, speaking in barely a whisper and seated in a wheelchair outside the Tel Aviv hospital, where she was taken following her release. Yocheved Lifshitz, 85, an Israeli grandmother who was held hostage in Gaza, speaks to members of the press after being released by Hamas militants, at Ichilov Hospital in Tel Aviv, Israel October 24, 2023. Inside Gaza, a group of hostages were led into what Lifshitz called a "spider's web" of tunnels that Hamas had built beneath the coastal territory.

Persons: Yocheved Lifshitz, I've, Lifshitz, Nir Oz, Kan, Nir Oz's, Janis Laizans, Henriette Chacar, Crispian Balmer, Kevin Liffey, Bernadette Baum Organizations: Hamas, Ichilov, REUTERS, Reuters, Thomson Locations: TEL AVIV, Gaza, Yocheved, Tel Aviv, Israel

☆ Qatar's emir: Israel shouldn't get unrestricted OK to kill
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +1 min

Qatar's Emir Sheikh Tamim Bin Hamad Al-Thani addresses the 78th Session of the U.N. General Assembly in New York City, U.S., September 19, 2023. REUTERS/Mike Segar/File Photo Acquire Licensing RightsDOHA, Oct 24 (Reuters) - Qatar's ruling emir on Tuesday urged the international community not to grant Israel "unrestricted authorisation to kill" Palestinians in its fight against Hamas, in what he called a dangerous escalation that threatens global security. Israel shouldn't be granted an unconditional green light and unrestricted authorisation to kill," Sheikh Tamim bin Hamad Al-Thani said in an annual speech to open the Gulf Arab state's advisory Shura council, his first public comments since Qatar began its most recent efforts to mediate between Israel and Hamas. Since then, wealthy gas-producer Qatar has had an open dialogue with both Israel and Hamas which has brought about the release of four hostages held by Hamas, including two Israeli women on Monday. "We call for a serious regional and international stance against this dangerous escalation that we are witnessing, which threatens the security of the region and the world,” Sheikh Tamim said.

Persons: Sheikh Tamim Bin Hamad Al, Mike Segar, Israel shouldn't, Sheikh Tamim bin Hamad, Thani, ” Sheikh Tamim, Andrew Mills, Nayera Abdallah, Tala, Ed Osmond, Bernadette Baum Organizations: General Assembly, REUTERS, Rights, Qatar, Hamas, Thomson Locations: Thani, New York City, U.S, Israel, Sheikh Tamim bin Hamad Al, Arab, Gaza

☆ China Jan-Sept fiscal revenue growth slows amid shaky recovery
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +2 min

Men work at the construction site of an apartment building in Beijing, China, July 29, 2023. REUTERS/Thomas Peter/File photo Acquire Licensing RightsBEIJING, Oct 24 (Reuters) - China's fiscal revenue grew 8.9% in the first nine months, decelerating from a 10% gain in January-August, official data showed, as its economic recovery remained on shaky ground. Fiscal revenue hit 16.67 trillion yuan ($2.28 trillion)during January-September, while fiscal expenditure rose 3.9% to 19.79 trillion yuan, data from the finance ministry showed on Tuesday. In September alone, fiscal revenue fell 1.3% year-on-year, compared with a 4.6% fall in August, according to Reuters calculations based on the ministry's data. According to the National Bureau of Statistics, China could achieve its full-year growth target of around 5% if fourth quarter gross domestic product (GDP) growth is above 4.4%.

Persons: Thomas Peter, JP Morgan, Nomura, Qiaoyi Li, Ellen Zhang, Ryan Woo, Bernadette Baum Organizations: REUTERS, Rights, National Bureau of Statistics, Reuters, Thomson Locations: Beijing, China, Rights BEIJING

☆ Euro zone lenders and borrowers shun credit as rates climb - ECB
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +3 min

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. "For the fourth quarter of 2023, euro area banks expect a further, albeit more moderate, net tightening of credit standards on loans to firms, and broadly unchanged credit standards on loans to households for house purchase," the ECB said. "For consumer credit, euro area banks expect a further significant net tightening." Banks expect a further, albeit less pronounced, decline in demand for all types of loans in the fourth quarter. The poll also showed banks found it harder to secure funding in the third quarter, especially from retail customers, reflecting stronger competition for deposits.

Persons: Heiko Becker, Banks, Francesco Canepa, Kevin Liffey, Bernadette Baum Organizations: European Central Bank, REUTERS, Bank Lending, ECB, Thomson Locations: Frankfurt, Germany, FRANKFURT

REUTERS/George Frey Acquire Licensing RightsBERLIN, Oct 24 (Reuters) - Several people were hospitalised in Austria after using suspected fake versions of the diabetes drug Ozempic, the country's health safety body said, the first report of harm to users in a widening European hunt for counterfeiters. Regional regulator, the European Medicines Agency (EMA), last week warned about pre-filled injection pens falsely labelled as Ozempic, which has seen surging demand for its weight-loss benefits. The maker of the drug, Novo Nordisk (NOVOb.CO), has flagged a surge in online offers of fake versions of Ozempic as well as its weight-loss drug Wegovy, both based on semaglutide. The BASG did not provide an exact number of people harmed by the fake Ozempic, or say how long-lasting the adverse effects would be on their health. That person likely did not procure the fakes from an official pharmacy, it said, warning that fake injection pens may still be in circulation.

Persons: George Frey, Ozempic, BASG, Wegovy, Miranda Murray, Ludwig Burger, Alexandra Schwarz, Angus MacSwan, Bernadette Baum Organizations: Novo Nordisk, Pharmacy, REUTERS, Rights, European Medicines Agency, EMA, Thomson Locations: Provo , Utah, U.S, Austria, Danish, Germany, Britain, British, Berlin, Frankfurt, Vienna

☆ ANALYST VIEW Argentina vote headed for runoff between ruling Peronist and radical Milei
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +2 min

[1/2] Argentina's presidential candidate Sergio Massa addresses supporters as he reacts to the results of the presidential election, in Buenos Aires, Argentina October 22, 2023. REUTERS/Mariana Nedelcu Acquire Licensing RightsLONDON, Oct 23 (Reuters) - A stronger-than-expected showing by Argentina's ruling Peronist coalition at a general election on Sunday has set the stage for a run-off vote on Nov. 19 between Economy Minister Sergio Massa and far-right radical Javier Milei. First, any announcements by the two candidates advancing to the second round. MARIANO MACHADO, PRINCIPAL AMERICAS ANALYST, VERISK MAPLECROFT, MALAGA"It is true that in the first round, societal mood shied away from radical change; but in the second round, pro-change voters may shift to Milei to oust Kirchnerism from power." The combination of a libertarian candidate pushing for dollarisation, with minister Massa hiking the money-printing machine to produce a political miracle for ‘candidate’ Massa could finally push macroeconomic variables off the cliff’s edge."

Persons: Sergio Massa, Mariana Nedelcu, Argentina's, Javier Milei, SERGIO ARMELLA, GOLDMAN SACHS, Massa, Milei, DIEGO W, PEREIRA, Patricia, Bullrich’s, Juan, MARIANO MACHADO, VERISK, Kirchnerism, ’ Massa, Karin Strohecker, Kirsten Donovan, Bernadette Baum Organizations: REUTERS, Peronist, JPMORGAN, NEW, Thomson Locations: Buenos Aires, Argentina, AMERICAS, VERISK MAPLECROFT, MALAGA, Rosario

☆ Bangladesh trains collide, killing 17, wounding scores -police
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +1 min

[1/2] A general view of derailed compartments of train after two trains collided in Bhairab, about 80 kilometres northeast of the capital Dhaka, Bangladesh, October 23, 2023. REUTERS/Piyas Biswas Acquire Licensing RightsDHAKA, Oct 23 (Reuters) - At least 17 people were killed and scores injured on Monday after two trains collided in eastern Bangladesh, police said. A passenger train crashed into a freight train in Bhairab, about 80 kilometres (50 miles) northeast of the capital Dhaka. The freight train smashed into the passenger train from behind, crumpling two coaches, he said. "Initial reports suggest the freight train broke the signal, leading to the tragedy," Hossain said.

Persons: Piyas Biswas, Anowar Hossain, Hossain, ” Mohammad Masud, Ruma Paul, Bernadette Baum, Chris Reese Organizations: REUTERS, Piyas, Rights, Dhaka Railway Police, Authorities, Thomson Locations: Bhairab, Dhaka, Bangladesh, Rights DHAKA

☆ Nigeria expects $10 bln in forex inflows in weeks - finance minister
▼ + stars: | 2023-10-23 | by ( Chijioke Ohuocha | ) www.reuters.com time to read: +2 min

ABUJA, Oct 23 (Reuters) - Nigeria expects $10 billion in foreign currency inflows in the next few weeks to ease liquidity in a foreign exchange market that has cramped growth in Africa's biggest economy, finance minister Wale Edun said on Monday. The West African country has faced chronic dollar shortages after foreign investors exited local assets during a period of low oil prices. Since then, investors are yet to return and the central bank has not yet settled outstanding demand for dollars from foreign investors seeking to repatriate funds or airlines seeking to send money from ticket sales abroad. Edun said President Bola Tinubu on Thursday signed two executive orders to allow domestic issuance of instruments in foreign currency and also allow all cash outside the banking system to be brought into the banks. He added that liquidity would also come from state-oil firm crude sales and foreign investment firms willing to invest in Nigeria.

Persons: Wale Edun, Edun, Bola Tinubu, Tinubu, Chijioke, MacDonald Dzirutwe, Bernadette Baum, Mark Potter Organizations: Thomson Locations: ABUJA, Nigeria, Africa's

Akbar Al Baker, QR Group CEO during the FIFA Legends Event on Dec 11, 2022. He has retired as CEO of Qatar Airways, a source familiar with the matter said on Oct 23, 2023. Qatar Airways could not immediately be reached for comment. Airbus and Qatar Airways settled at the end of January, averting a rare and potentially damaging UK court trial in the jet sector. It was not immediately clear whether Al Baker was retiring from other posts, which include serving as the chief executive of Hamad International Airport and of Qatar Duty Free.

Persons: Akbar Al Baker, Paul Childs, Al Baker, Gulf Badr Mohammed Al Meer, Badr Mohammed Al Meer, Al Baker's, Saad Sherida Al, Kaabi, Alex Macheras, Sheikh Tamim bin Hamid Al Thani, Maha El Dahan, Andrew Mills, Alexander Cornwell, Tim Hepher, Bernadette Baum, Mark Potter, Sharon Singleton Organizations: QR, FIFA, Qatar Airways, REUTERS, DOHA, Reuters, Hamad International Airport, Dubai's, Turkish Airlines, U.S, Airbus, Boeing, Qatar, Qatar Duty Free, Thomson Locations: Gulf, Qatar’s, Dubai's Emirates, East, Berlin, Qatar

☆ Israeli air strikes kill two workers at Syria's Damascus airport- official
▼ + stars: | 2023-10-22 | by ( ) www.reuters.com time to read: 1 min

CAIRO, Oct 22 (Reuters) - At least two workers were killed on Sunday "as a result of Israeli bombardment targeting Syria's Damascus airport at dawn," Syria's general directorate of meteorology said in a statement. The two workers who were killed were from the meteorology service and based at the airport, the agency said. Reporting by Kinda Makieh, Writing by Adam Makary; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Kinda Makieh, Adam Makary, Bernadette Baum Organizations: Thomson Locations: CAIRO, Damascus

☆ Indonesia presidential candidate Prabowo picks Jokowi's son as running mate
▼ + stars: | 2023-10-22 | by ( ) www.reuters.com time to read: +3 min

Achmad Ibrahim/Pool via... Acquire Licensing Rights Read moreJAKARTA, Oct 22 (Reuters) - Indonesia's defence minister and presidential candidate Prabowo Subianto on Sunday announced incumbent leader Joko Widodo's eldest son as his running mate for next year's election. Speaking after a meeting of his party and its coalition partners, Prabowo told a press conference there had been an agreement to nominate him as presidential candidate and Gibran Rakabuming Raka as vice presidential candidate. Ganjar and Anies, both 54, had signed up for the race on Thursday, the opening day of registration for presidential candidates. Prabowo said he plans to register his candidacy to the election commission on Wednesday Oct. 25, which is the last day for registration. Reporting by Ananda Teresia and Stanley Widianto; Editing by Bernadette Baum and David HolmesOur Standards: The Thomson Reuters Trust Principles.

Persons: Joko Widodo, Prabowo Subianto, Achmad Ibrahim, Joko Widodo's, Gibran Rakabuming Raka, Gibran, Prabowo, Ganjar, Anies Baswedan, Jokowi, Ananda Teresia, Stanley Widianto, Bernadette Baum, David Holmes Organizations: Gerindra, Sunday, Central Java, Indonesian Democratic Party of Struggle, Thomson Locations: Jakarta, Indonesia, JAKARTA, Central, Surakarta city

☆ Iranian teenager Armita Geravand is 'brain dead': state media
▼ + stars: | 2023-10-22 | by ( ) www.reuters.com time to read: +1 min

DUBAI, Oct 22 (Reuters) - A teenage Iranian girl, who fell into a coma earlier this month following an alleged encounter with officers over violating the country's hijab law, is said to be "brain dead", Iranian state media reported on Sunday. "Follow-ups on the latest health condition of Geravand indicate that her condition of being brain dead seems certain despite the efforts of the medical staff," state media reported. Iran has denied that Geravand was hurt after a confrontation on Oct. 1 with officers enforcing the mandatory Islamic dress code in the Tehran metro. Iran's theocratic establishment has imposed restrictions on women's dress since a popular revolution deposed the secular and Western-backed Shah in 1979. Defying the strict Islamic dress code, more women have been appearing unveiled in public places such as malls, restaurants and shops across the country since Amini's death.

Persons: Mahsa Amini, Geravand, Shah, Bernadette Baum Organizations: Reuters, Dubai, Thomson Locations: DUBAI, Iran, Tehran

☆ Second aid convoy enters Egyptian side of Rafah crossing en route to Gaza, sources say
▼ + stars: | 2023-10-22 | by ( ) www.reuters.com time to read: 1 min

CAIRO, Oct 22 (Reuters) - A second convoy of aid trucks entered the Egyptian side of the Rafah border crossing on Sunday, heading towards the Gaza Strip, according to Egyptian security and humanitarian sources at Rafah. A total of around 17 trucks carrying medical and food supplies had been inspected by UNRWA, the UN's Palestinian refugee agency, the sources said. The first convoy of badly needed supplies entered Gaza on Saturday. The Rafah crossing had been out of operation since shortly afterwards, and bombardments on the Gaza side damaged roads and buildings. Reporting by Yusri Mohamed Writing by Nafisa Eltahir Editing by Bernadette Baum and John StonestreetOur Standards: The Thomson Reuters Trust Principles.

Persons: Yusri Mohamed, Nafisa, Bernadette Baum, John Stonestreet Organizations: UNRWA, Palestinian, Thomson Locations: CAIRO, Rafah, Gaza, Israel

☆ Wall St ends lower on Powell remarks as benchmark Treasury yields near 5%
▼ + stars: | 2023-10-19 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Exacerbating worries over higher-for-longer interest rates, benchmark Treasury yields brushed against the 5% level. The pan-European STOXX 600 index (.STOXX) lost 1.19% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) shed 0.95%. Emerging market stocks lost 1.22%. U.S. Treasury yields surged, with the 10-year brushing against the 5% threshold as the Fed's Powell warned that additional monetary policy tightening could be in the cards. The greenback weakened against a basket of world currencies as benchmark Treasury yields crept higher and gold surged.

Persons: Brendan McDermid, Jerome Powell, Sam Stovall, Stovall, spooked, Rishi Sunak, Joe Biden's, Powell, Brent, Gold, Stephen Culp, Amanda Cooper, Bernadette Baum, Leslie Adler, Jonathan Oatis Organizations: New York Stock Exchange, REUTERS, Treasury, U.S, Federal, Research, Tesla Inc, Netflix Inc, British, Hamas, Dow Jones, Nasdaq, Japan's Nikkei, Thomson Locations: New York City, U.S, New York, Israel, Gaza, Asia, Pacific, Japan, London

☆ Scientists test Fukushima fish after nuclear plant water release
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

Eugene Hoshiko/Pool via REUTERS Acquire Licensing RightsIWAKI, Japan, Oct 19 (Reuters) - A team of international scientists collected fish samples from a port town near Japan's crippled Fukushima nuclear plant on Thursday, seeking to assess the impact of the plant's recent release of treated radioactive water into the sea. Scientists from China, South Korea and Canada observed the collection of fish samples delivered fresh off the boat at Hisanohama port, about 50 kilometres south of the plant which was destroyed in the 2011 earthquake and tsunami. The samples will be sent to laboratories in each country for independent testing, the International Atomic Energy Agency (IAEA) said. Before being released, the water is filtered to remove isotopes, leaving only tritium, a radioactive isotope of hydrogen that is hard to separate, plant operator Tepco says. Reporting by Reuters staff; Writing by John Geddie; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Eugene Hoshiko, Paul McGinnity, John Geddie, Bernadette Baum Organizations: International Atomic Energy Agency, REUTERS Acquire, Rights, IAEA, Tepco, Reuters, Thomson Locations: Hisanohama Port, Iwaki, Japan, Rights IWAKI, Japan's, China, South Korea, Canada

☆ Category 4 Hurricane Norma churns towards Mexican Pacific coast
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +1 min

Companies Estado de Baja California FollowMEXICO CITY, Oct 19 (Reuters) - Hurricane Norma strengthened into a Category 4 hurricane on Thursday as it neared peak strength over the Pacific, though it was forecast to weaken before reaching the coast of popular tourist resorts on Mexico's Baja California peninsula. "The hurricane is likely near its peak intensity, although some small fluctuations cannot be ruled out today," the U.S. National Hurricane Center (NHC) said, with Norma still some 245 miles (394 km) away from the port city Manzanillo. The forecaster said Norma would likely begin weakening from Friday through the weekend, and approach land from late Friday. Baja California is home to the Los Cabos beach resorts. In the Atlantic, the NHC forecast tropical storm conditions across parts of the Lesser Antilles from Friday as Tropical Storm Tammy heads west at 15 mph (24 km), nearing the Leeward Islands "at or near hurricane intensity".

Persons: Norma, Tammy, Sarah Morland, Raul Cortes, Bernadette Baum, Alistair Bell Organizations: Estado, U.S, National Hurricane Center, NHC, Saturday, Virgin Islands, Thomson Locations: California, MEXICO, Baja California, Manzanillo, Lesser, Virgin, Puerto Rico, Guadeloupe

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

☆ EU data watchdog urges more privacy safeguards for digital euro
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON, Oct 18 (Reuters) - The European Union's data protection watchdog on Wednesday called for stronger privacy safeguards in EU draft legislation to underpin a digital euro. Approval of the draft law has been slowed down to give more time to address concerns that the digital euro will lack the anonymity of cash for low-value transactions. The draft law should also "further clarify" the data protection responsibilities of the ECB and of payments services providers (PSP). The board said it strongly welcomed that digital euro users will always have the choice to pay in digital euros or in cash. “A high standard of privacy and data protection is instrumental in citizens' trust in this new digital currency," said Irene Loizidou Nicolaidou, the EDPB's deputy chair.

Persons: Dado Ruvic, Irene Loizidou Nicolaidou, Huw Jones, Bernadette Baum, Jane Merriman Organizations: REUTERS, European Central Bank, European Commission, Data Protection, ECB, PSP, Thomson

Washington on Tuesday said it plans to halt shipments to China of more advanced artificial intelligence chips designed by Nvidia and others. It also restricted a broader swathe of advanced chips and chipmaking tools to a greater number of countries including Iran and Russia, and blacklisted Chinese chip designers Moore Threads and Biren. China's CSI Semiconductor Index (.CSI931865) dropped 1.4% on Wednesday following the announcement, while the STAR Chip Index (.STARCHIP) lost 1.2%. AI stocks were further hit after the U.S. announced further controls on Nvidia chip exports to China, UBS wrote in a note to clients. Moore Threads said it was communicating with all parties involved and evaluating the impact.

Persons: Janet Yellen, Mark Schiefelbein, Biden, Moore, Yang Wang, Charlie Chai, Xi Jinping, Biren, Shen Yiming, Bernadette Baum, Kirsten Donovan Organizations: Treasury, Rights, Washington, Nvidia, CSI Semiconductor, U.S, UBS, Biren, Thomson Locations: United States, Diaoyutai, Beijing, China, Rights SHANGHAI, BEIJING, U.S, Iran, Russia

French police stand guard in front of the Chateau de Versailles (Palace of Versailles) as tourists enter again after the Palace was evacuated for security reasons, in Versailles, near Paris, France, October 17, 2023. REUTERS/Clotaire Achi/File Photo Acquire Licensing RightsPARIS, Oct 18 (Reuters) - Eight French airports faced security alerts on Wednesday and several were evacuated for checks, the DGAC aviation authority said, and the Palace of Versailles closed again due to its third security scare in five days. Lille airport was evacuated due to a bomb scare, the airport had said earlier in the day on social media platform X. The Palace of Versailles, one of France's main tourist attractions, said it was again evacuating visitors for security reasons. Reporting by Dominique Vidalon, Marine Strauss; editing by Bernadette Baum and Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.

Persons: Chateau, Clotaire, Dominique Vidalon, Marine Strauss, Bernadette Baum, Mark Heinrich Our Organizations: REUTERS, Rights, Louvre, Gare de Lyon, Thomson Locations: Versailles, Paris, France, Toulouse, Biarritz, Pau, Nice, Lyon, Lille, Rennes, Nantes

☆ 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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