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☆ LMVH and other global luxury brands are hurting as Chinese shoppers rein in spending
▼ + stars: | 2024-07-26 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN —The value of some of the world’s best-known luxury companies is plunging as Chinese consumers pull back on spending, with even the most exclusive brands feeling the pain. The rout seems to be accelerating, with those sales tumbling 14% in the second quarter, according to results published late Tuesday. “For now, the (luxury) market remains volatile as investors reassess the once-held belief that luxury brands are a safe-haven investment, shielded from broader economic downturns,” Jochen Stanzl, chief market analyst at CMC Markets, told CNN. “The Chinese market contracted slightly; the market situation in the premium and luxury segment in China remained weak,” the company said. China’s economy grew 4.7% year-on-year in the second quarter of the year, according to official data released last week, missing economists’ expectations and marking the weakest growth since the first quarter of 2023.

Persons: Bernard Arnault’s, Louis Vuitton, Christian Dior, ” Jochen Stanzl, Richemont, Cartier, ”, Gucci, Kering, Hermes, Birkin, Olesya Dmitracova Organizations: London CNN, Prada, CMC Markets, CNN, Europe’s, Reuters, Porsche, Benz, Bain & Company Locations: Asia, Japan, China, Paris, Hong Kong, China , Hong Kong, Macao, North America, Europe, United States

☆ Robyn Grew: AI won’t be making decisions ‘anytime soon,’ says top hedge fund CEO
▼ + stars: | 2024-07-26 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —The head of one of the world’s biggest hedge funds says artificial intelligence systems are unlikely to replace traders anytime soon. London-based Man Group, whose assets under management hit an all-time high of $178.2 billion during the first six months of the year, makes its money by charging investors management and performance fees. “I don’t think of AI as making investment decisions anytime soon,” Grew said. In the interview with CNN, Grew said the era of rock-bottom interest rates that broadly defined the decade following the 2008 financial crisis had made way for a period of “volatility and dispersion” ushered in by the rise in inflation after the pandemic. In other words, traders navigating a volatile market can expect to make a greater range of — and possibly bigger — returns across various assets than during more stable times.

Persons: Robyn Grew, ” Grew, “, Grew Organizations: London CNN, CNN, Man Group, Surgeons, ”, London Stock Exchange Locations: London

☆ UK: Assisted dying bill introduced in House of Lords
▼ + stars: | 2024-07-26 | by ( Rob Picheta | ) edition.cnn.com time to read: +9 min

London CNN —An emotional, accelerating campaign to allow assisted dying for terminally ill adults in Britain has reached parliament, with activists hoping the country will become one of few to legalize the process. Opponents of legalization have argued that those small figures represent a limited appetite for assisted dying in the UK, but there are other pressures at play too. But some among the country’s lawmakers, who will ultimately decide the fate of the assisted dying law, say there is more to consider. For Starmer, the assisted dying bill has the potential to disrupt those intentions. But legalizing assisted dying wasn’t in Labour’s manifesto or in its King’s Speech, limiting the opportunities for it to ever reach MPs.

Persons: Bill, “ I’ve, ” Charlie Falconer, ”, Ellie Ball, Alistair Thompson, Falconer, Esther Rantzen, Wiktor, Rantzen, ” Rantzen, Paola Marra, “, Rachael Maskell, ” Maskell, Marieke Vervoort, CNN “ I’ve, Keir Starmer, –, wouldn’t, wasn’t, ” Falconer Organizations: London CNN, Labour, CNN, Publishing, BBC, Health, Social Care, Labour Party Locations: Britain, Canada, Australia, Switzerland, Netherlands, Germany, Italy, Spain, Portugal, United Kingdom, Oregon, England, Wales, Westminster, Dignitas

☆ The British monarchy steps up efforts to go green with solar panels on palaces and biofuel-powered Bentleys
▼ + stars: | 2024-07-24 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

And, fittingly, in the first full year of his reign, the British monarchy introduced a slew of measures to tackle its rising carbon emissions. The King’s two Bentleys will also be modified within the next year to run on biofuel, according to Britain’s PA Media. The Royal Household aims to transition to an “almost fully electric” fleet of vehicles eventually, the accounts said, without providing a target date. Whether biofuels used for vehicles reduce carbon emissions is contentious and depends on many factors, including their source. Crown Estate profits soared in the 2023-24 financial year to a record £1.1 billion ($1.4 billion), boosted by revenue from offshore wind projects.

Persons: London CNN — King Charles III, Prince Harry, Meghan, —, Charles ’, Sovereign Grant —, Sovereign Grant, Angela Dewan Organizations: London CNN, Royal, Windsor Castle, Britain’s, Media, Royal Household, SAF, Sandringham Estate, Sovereign, Northern Ireland — Locations: British, Windsor, Windsor Castle —, Sandringham, United States, London, England, Wales, Northern Ireland

☆ Komodo dragons have iron-tipped teeth, new study shows
▼ + stars: | 2024-07-24 | by ( Jack Guy | ) edition.cnn.com time to read: +3 min

London CNN —Komodo dragons, the world’s largest species of lizard, have iron-tipped teeth that help them to rip their prey apart, according to new research. Komodo dragons are native to Indonesia and weigh around 80 kilograms (176 pounds) on average. LeBlanc analyzed teeth from museum collections as well as from a Komodo dragon named Ganus, which lived at London Zoo until it was euthanized last year. Analysis showed that iron was already present when the teeth erupted from the gum tissue, and was also present despite Ganus having a very different diet to wild Komodo dragons, he added. The findings may help us understand how carnivorous dinosaurs, which had curved, serrated teeth similar to Komodo dragons, would have killed and eaten their prey, LeBlanc said.

Persons: Charlotte Ellis, Aaron LeBlanc, LeBlanc, ” LeBlanc, ”, “, Ganus, Benjamin Tapley Organizations: London CNN, Zoological Society of London, King’s College London, CNN, King’s College London “, London Zoo Locations: London, Indonesia

☆ Almudena Romero prints images onto living plants
▼ + stars: | 2024-07-22 | by ( Victoria Barauna | ) edition.cnn.com time to read: +10 min

London CNN —Spanish artist Almudena Romero is known for creating artworks that use plants as her medium. Almudena Romero “The Pigment Change” series has a chapter called “Family Album,” in which Romero projects a negative onto live watercress, using the plants’ natural photosynthesis to create areas of light and dark. Almudena Romero This artwork, which was exhibited this year on International Women’s Day, is a tribute to a childhood friend. Almudena Romero Romero questions the long-term future of conventional photographic film, when the materials needed to produce it are limited. But for Romero, plants are much more than something to look after: they’re beings we can learn from.

Persons: Almudena Romero, Romero, ”, Almudena Romero Romero, “ Leticia, ” Romero, ” Almudena Romero, “, ” Almudena Romero Romero, Albert Khan, Almudena, Heather Ackroyd, Dan Harvey, Binh, Plants Romero, Millennials, it’s, It’s, Nicolas Langlade, I’m Organizations: London CNN, Saatchi, Albert, Albert Khan Museum, Plants, “, BMW, France’s National Research Institute for Agriculture, Food, Saatchi Gallery Locations: Spanish, Spain, Valencia, ” Almudena Romero Spanish, London, Paris, British, Madrid, France

☆ EU moves high-level meetings out of Budapest to protest Orbán’s Ukraine war stance
▼ + stars: | 2024-07-22 | by ( Caitlin Danaher | ) edition.cnn.com time to read: +3 min

“I can say that all member states, with one single exception, were very much critical about this behavior,” he added. “European Union policy is not a pro-war policy. Borrell’s decision comes after European Council President Charles Michel firmly hit back at Orbán’s claim that the EU has led a “pro-war policy” in a letter published last week. “Russia is the aggressor and Ukraine is the victim exercising its legitimate right to self-defense. Russia is leading a war of aggression in blatant violation of international law, Ukraine’s territorial integrity and sovereignty in accordance with the UN Charter,” Michel wrote.

Persons: Viktor Orbán, ” Borrell, “, ’, ” Borrel, Putin, Borrell’s, Charles Michel, ” Michel, Orbán, Vladimir Putin, Xi Jinping, Donald Trump, Orban, Ursula von der Leyen, ” Orban, Niamh Kennedy, James Frater, Amy Cassidy, Jennifer Hansler Organizations: London CNN, European Union, Union, European, EU, UN, Ukraine “, CNN Locations: Budapest, Brussels, Hungary, Ukraine, Hungary’s, Hungarian, Russia, Moscow, Beijing, Florida

☆ Ryanair, Europe’s biggest airline, says airfares will be ‘materially lower’ this summer
▼ + stars: | 2024-07-22 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —Ryanair said Monday that it expects airfares during the busy summer travel season to be “materially lower” than last year as the low-cost carrier reported a plunge in profits. Europe’s biggest airline by passenger numbers, comparable in size to Delta Air Lines in the United States, said its average fare fell nearly 15% in the April-to-June quarter from the same period in 2023, to €41.93 ($45.65) from €49.07 ($53.42). Ryanair (RYAAY) attributed that dip in the first quarter of its financial year, in part, to the timing of the Easter break this year, some of which fell over March. The airline previously thought fares would be “flat to modestly up,” he added. Ryanair reported a 46% fall in profits in the first quarter of the year, to €360 million ($392 million), despite a 10% rise in the number of passengers.

Persons: ”, Michael O’Leary, Neil Sorahan Organizations: London CNN, Ryanair, Europe’s, Delta Air Lines, “, British Airways, Boeing, Alaska Airlines, Delta Locations: United States

☆ Prince George is 11 – see his birthday photo
▼ + stars: | 2024-07-22 | by ( Lianne Kolirin | ) edition.cnn.com time to read: +2 min

London CNN —Prince George has turned 11, and as per tradition his proud parents have released an official portrait to mark the occasion. Taken by the Princess of Wales, the black and white image was published on Kensington Palace’s official social media channels. Handout/The Princess of WalesIt is captioned: “Wishing Prince George a very happy 11th birthday today!”The latest photo follows the release of a family shot of George, his siblings and his father last month to mark Prince William’s 42nd birthday. The Prince and Princess of Wales have made it a tradition to release photos on landmark family occasions, like birthdays, Father’s Day, Mother’s Day and wedding anniversaries. Another recent pic of Charlotte, this time with George and her father, was tweeted by Taylor Swift on June 22.

Persons: London CNN — Prince George, Princess, Wales, Prince George, George, Prince William’s, Princess Charlotte, Prince Louis, Prince, Father’s, who’s, Charlotte, Taylor Swift, Travis Kelce, Kate, “, ” Organizations: London CNN, Spain Locations: Kensington, Wales, England, London

☆ Amazon Prime Day ‘major cause of injuries’ for workers, Senate finds
▼ + stars: | 2024-07-17 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +3 min

London CNN —Amazon’s warehouses are especially dangerous for workers during the company’s annual Prime Day event, as well as the holiday season, according to an investigation by the US Senate. Prime Day, held on Tuesday and Wednesday this week, is “a major cause of injuries for the warehouse workers who make it possible,” said a report released Monday by Sen. Bernie Sanders, who chairs the Senate Committee on Health, Education, Labor and Pensions. But Amazon’s total injury rate, which includes injuries the company does not have to report to OSHA, was just under 45 per 100 workers, the report said. Amazon raked in $12.7 billion in sales on July 11 and 12 last year, its Prime Day 2023 event, and said July 11 was the single biggest sales day in the company’s history. When faced with worker injuries, Amazon provides minimal medical care.”Amazon holds Prime Day in July every year to juice sales numbers during what are typically slow summer months.

Persons: ”, Sen, Bernie Sanders, ” Kelly Nantel, we’ve, “, Andy Jassy, Sanders Organizations: London CNN, Senate, Prime, Health, Education, Labor, Pensions, Occupational Safety, Health Administration, OSHA, Amazon, CNN

☆ ‘Strictly Come Dancing’ contestants to be chaperoned after abuse allegations
▼ + stars: | 2024-07-17 | by ( Issy Ronald | ) edition.cnn.com time to read: +3 min

London CNN —“Strictly Come Dancing,” Britain’s version of the hit TV show “Dancing with the Stars,” announced that chaperones will accompany celebrities when training with their professional dance partners, after two of its dancers left following allegations of abuse. “And that courtesy wasn’t extended to me.”The BBC directed CNN to Tuesday’s statement when asked for a response to Abbington’s reported comments. Top London law firm Carter-Ruck confirmed to CNN on Wednesday that it is representing her but declined to comment further. Pernice has repeatedly denied Abbington’s allegations, calling them “false” and rejecting “any suggestion of abusive or threatening behaviour,” in two statements posted on Instagram. As requested, I have stayed silent, but I am looking forward to the conclusion of the investigation and ultimately clearing my name,” he added.

Persons: London CNN —, ”, chaperones, – Giovanni Pernice, Graziano di Prima –, Amanda Abbington, Pernice, ” Graziano di Prima, Zara McDermott Guy Levy, Abbington, Carter, Ruck, “, Di Prima, Zara McDermott, shaming, I’ve Organizations: London CNN, BBC, Sunday Times, CNN Locations: London, British

☆ Pernod Ricard is ditching wine brands as the world drinks less
▼ + stars: | 2024-07-17 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Pernod Ricard is selling most of its wine brands, as wine consumption is falling globally, and will instead focus on growing its champagne and premium spirits labels, including in the United States. The deal comes after wine consumption globally hit a 27-year low last year, according to an estimate by the International Organisation of Vine and Wine (OIV), an industry group. “The divestment (by Pernod Ricard) makes sense as the segment has been underperforming for a while now and the global wine market is still challenging,” Sarah Barrett, the executive editor of Wine & Spirits Daily, a US-based trade publication, told CNN. Pernod Ricard is also doubling down on American whiskey. Falling wine consumption globally has collided with severe pressures on wine production, forcing many vineyards in Europe to close their doors.

Persons: London CNN — Pernod Ricard, Jameson, Gin —, Pernod Ricard, St Hugo, Stoneleigh, ” Sarah Barrett, Barrett, ” Richard Black, Jordan Valinsky Organizations: London CNN, Wine Holdco, International Organisation of Vine, Campo Viejo, Consumers, Wine, Daily, CNN, distillers, Wine Estates, North American Distillers Locations: United States, Australia, New Zealand, Spain, Orlando, Brancott Estate, Campo Viejo, Ysios, Tarsus, India, Campo, China, US, Europe, New York

☆ New inflation warning: Get used to high interest rates, IMF warns
▼ + stars: | 2024-07-16 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —The International Monetary Fund has warned that stubborn inflation could keep interest rates higher for longer than expected, increasing fiscal and financial risks around the world. Persistently high prices for services — which include haircuts, hotels and restaurants — as well as escalating trade tensions are propping up inflation and raising the prospect that interest rates will stay high for a while yet, the IMF cautioned Tuesday in its latest World Economic Outlook. The warning highlights that the global economy is not yet in the clear when it comes to inflation, which explains the caution on the part of central banks in cutting interest rates. However, services inflation came in higher than expected. The agency blamed sticky services price inflation for “holding up progress” on reducing overall inflation.

Persons: Jerome Powell Organizations: London CNN —, Monetary Fund, Bank of England, European Union, IMF Locations: —, United States, China, India, E.T

☆ Clifton Suspension Bridge, Bristol: Man charged with double murder after human remains found in suitcases
▼ + stars: | 2024-07-15 | by ( Catherine Nicholls | ) edition.cnn.com time to read: +2 min

London CNN —A man has been charged with two counts of murder following the discovery of human remains at a famous bridge in southwest England. Yostin Andres Mosquera, a 34-year-old Colombian national, was arrested in Bristol early Saturday and charged on Monday, London’s Metropolitan Police said in a statement. The remains were found in suitcases at Clifton Suspension Bridge in Bristol last week, as well as at Mosquera’s address in Shepherd’s Bush, a neighborhood in west London. Forensic officers in Shepherd's Bush on Saturday. “I know that this awful incident will cause concern not just among residents in Shepherd’s Bush but in the wider LGBTQ+ community across London,” he said.

Persons: Yostin Andres Mosquera, Albert Alfonso, Paul Longworth, Mosquera, Longworth, Alfonso, Shepherd's Bush, Jonathan Brady, Andy Valentine, Albert, Paul’s, “, ”, ” Valentine Organizations: London CNN, Colombian, London’s Metropolitan Police, Metropolitan Police, Police Locations: England, Bristol, Clifton, Shepherd’s Bush, London, France, United Kingdom, Shepherd's

☆ Princess of Wales receives standing ovation from Centre Court crowd as she attends Wimbledon men’s final
▼ + stars: | 2024-07-14 | by ( Lauren Said-Moorhouse | Issy Ronald | ) edition.cnn.com time to read: +3 min

London CNN —Catherine, Princess of Wales, received a standing ovation from the Centre Court crowd as she attended the Wimbledon men’s singles final on Sunday alongside her daughter Princess Charlotte. GET OUR FREE ROYAL NEWSLETTER • Sign up to CNN’s Royal News, a weekly dispatch bringing you the inside track on the royal family, what they are up to in public and what’s happening behind palace walls. While Kate is in southwest London for the tennis final, her husband Prince William is due in Berlin for the UEFA Euro 2024 final between England and Spain. The Princess of Wales and Princess Charlotte met British tennis players, including Emma Raducanu. Aaron Chown/PA WireThe Prince of Wales is the president of England’s Football Association (FA) and a regular sight at England football games.

Persons: London CNN — Catherine, Princess of Wales, Princess Charlotte, Kate, Charlotte, Emma Raducanu, Carlos Alcaraz, Novak Djokovic, Kate –, King Charles III, “, It’s, Prince William, Wales, Aaron Chown, Prince, William, you’re, ” King Charles, Gareth Southgate’s, ” Organizations: London CNN, Court, Wimbledon, Sunday, CNN’s Royal, Lawn Tennis, Croquet Club, London Clinic, UEFA, England’s Football Association, England, Switzerland Locations: Wales, London, Berlin, England, Spain, British, Düsseldorf

☆ Tributes for John Hunt, BBC sport commentator whose wife and daughters were killed in suspected crossbow attack
▼ + stars: | 2024-07-11 | by ( Catherine Nicholls | Sana Noor Haq | ) edition.cnn.com time to read: +4 min

London CNN —Figures from across the sporting world have offered their condolences to a BBC sport commentator, after his wife and two daughters were killed by an alleged crossbow attacker, in deaths that again drew attention to the epidemic of violence against women. Carol Hunt, 61, wife of BBC horse racing commentator, John Hunt, and their daughters, Hannah Hunt, 28, and Louise Hunt, 25, died from injuries sustained in an attack in Bushey, just northwest of London, on Tuesday, according to police and Britain’s public broadcaster. BBC Sport presenter Mark Chapman said: “John Hunt is our colleague, and our friend, not just to the current 5 Live Sport team, but to all of those who have worked here with him over the past 20 years. Truly horrific.”The British Horseracing Authority (BHA) said in a statement that its thoughts are with Hunt, his family, and friends. Ascot Racecourse, one of Britain’s most famous horse-racing grounds, said that it echoed the BHA’s words and posted that “our thoughts are with John Hunt at this tragic time.”

Persons: Carol Hunt, John Hunt, Hannah Hunt, Louise Hunt, Kyle Clifford, Clifford, Reem Alsalem, Yvette Cooper, Mark Chapman, “ John Hunt, John, ” Chapman, Dan Walker, James Manning, Tim Peach, Hunt, ”, He’s peerless, ” Peach, he’s, Carol ’, ’ ” Michael Owen, ” Julie Harrington Organizations: London CNN, BBC, British, Britain, United Nations, Labour, BBC Cricket, European, British Horseracing Authority, Ascot Racecourse Locations: Bushey, London, Enfield, Hertfordshire, United Kingdom, Britain, Bushey , Hertfordshire

☆ iPhone users in Europe will no longer have to use Apple Pay for mobile payments
▼ + stars: | 2024-07-11 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Apple has yielded to pressure by European regulators to give rivals access to the contactless payments technology on iPhones, meaning that their users will no longer be limited to the Apple Pay mobile wallet. Under the agreement, third-party mobile wallet developers will gain free access to the standard technology used for contactless payments with iPhones, known as near-field communication (NFC) technology. Apple will also allow iPhone users to choose which mobile wallet to make the default wallet on their phones. “Apple Pay and Apple Wallet will continue to be available in the European Economic Area for users and developers.”The European Commission first raised objections against Apple’s tap-to-pay practices in 2022, having opened a formal antitrust investigation into Apple Pay two years earlier. That means rivals wanting to create apps or wallets using the tap-to-pay features on iPhones have been unable to do so and users have been forced to use Apple Pay for mobile payments.

Persons: London CNN —, Margrethe Vestager, Apple, “, ” Vestager, ” Organizations: London CNN, London CNN — Apple, Apple, European Union, Digital Markets, European Commission, Economic, CNN, “ Apple, Economic Area, NFC

☆ Hip-hop band Cypress Hill to perform with London Symphony Orchestra, decades after ‘Simpsons’ gag predicted it
▼ + stars: | 2024-07-10 | by ( Catherine Nicholls | ) edition.cnn.com time to read: +1 min

London CNN —“We mostly know classical, but we could give it a shot,” the conductor of the London Symphony Orchestra tells hip-hop group Cypress Hill when discussing a potential collaboration in a 1996 episode of “The Simpsons” titled “Homerpalooza.”Now, 28 years later, the two acclaimed ensembles are making it happen, performing together in real life at London’s Royal Albert Hall on Wednesday night. B Real, a member of the pioneering group, posted to X: “Tonight we are rocking with the @londonsymphony at @RoyalAlbertHall.. “Fortunately as fate would have it, we will fulfill this objective tonight. Love to everyone coming thru for this experience.”According to the event’s description on the Royal Albert Hall website, the two groups will perform a “special rendition” of Cypress Hill’s four-times platinum album “Black Sunday,” as well as other hits from its catalogue. Tickets for the show have sold out, with seats costing £128.50 ($165) per person.

Persons: London CNN —, London’s Royal Albert, “, ” Organizations: London CNN, London Symphony Orchestra, London’s Royal, London’s Royal Albert Hall, @TheSimpsons, ”, Royal Albert Hall Locations: @RoyalAlbertHall, Cypress Hill’s

☆ UK’s most complete dinosaur fossil in a century reveals new species
▼ + stars: | 2024-07-10 | by ( Louis Mian | ) edition.cnn.com time to read: +3 min

London CNN —A previously unknown species of plant-eating dinosaur roamed on an island off the south coast of England around 125 million years ago, new research has found. The bones were found by avid local fossil collector Nick Chase, who died of cancer in 2019. The dinosaur's large pubic hip bone revealed it was a previously unknown species. University of PortsmouthThe researchers were able to determine the skeleton belonged to a new dinosaur species because of unique features, such as its jaw and particularly large pubic hip bone. “Nick Chase’s remarkable find and Jeremy Lockwood’s dedicated research are a testament to the incredible history waiting to be uncovered here,” he added.

Persons: London CNN —, Jeremy Lockwood, Lockwood, ” Jeremy Lockwood, Nick Chase, “ Nick, Mary Anning, ” Lockwood, weathers, we’d, chasei, Chase, Compton, Mike Greenslade, ” Greenslade, “ Nick Chase’s, Jeremy Lockwood’s Organizations: London CNN, University of Portsmouth, Isle of Wight University of Portsmouth, Trust Locations: London, England, United Kingdom, Compton, Isle of, Isle of Wight, Compton Bay

☆ Euro and French stocks subdued despite France’s political limbo
▼ + stars: | 2024-07-08 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —French stocks and government bonds struggled to find direction Monday following surprise results in France’s parliamentary elections, which saw left-wing parties outperform the far right, leaving the country’s parliament facing gridlock. The yield on benchmark 10-year bonds rose by a fraction of a percentage point to 3.21% by 6.37 a.m. But the premium traders demand to hold French bonds instead of the ultra-safe German equivalents was lower on the day. However, it was still a lot higher than before French President Emmanuel Macron called the snap elections on June 9. France’s left-wing alliance came in first after the vote Sunday, while the far right trailed in third place in a shocking reversal of first-round results.

Persons: Emmanuel Macron, Macron, France’s, “, ” Organizations: London CNN, Rabobank, European Union Locations: gridlock, France, Paris

☆ Euro and French stocks subdued as France plunged into political limbo
▼ + stars: | 2024-07-08 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN —French stocks and government bonds struggled to find direction Monday following surprise results in France’s parliamentary elections, which saw left-wing parties outperform the far right Sunday, leaving the country’s parliament facing gridlock. The yield, or return sought by investors, on benchmark 10-year bonds rose by a fraction of a percentage point to 3.22% by 8.09 a.m. But the premium traders demand to hold French bonds instead of the ultra-safe German equivalents was lower on the day. However, it was still a lot higher than before French President Emmanuel Macron called the snap elections on June 9. The value of the currency, which is shared by 19 other countries in the EU, has swung wildly since June 9.

Persons: Emmanuel Macron, Macron, France’s, “, ”, Holger Schmieding, “ unaffordable, Schmieding, Hanna Ziady Organizations: London CNN, European Union, Rabobank, EU Locations: gridlock, Europe’s, “, France, Paris, —

☆ Keir Starmer must fix Britain’s economic mess after UK election win
▼ + stars: | 2024-07-05 | by ( Hanna Ziady | ) edition.cnn.com time to read: +9 min

London CNN —British voters have handed the Labour Party its first election victory in almost two decades, hoping that a new center-left government will revive Britain’s ailing economy and fix collapsing public services. The win is a triumph for Keir Starmer, a former chief prosecutor who only entered parliament in 2015 and will become prime minister later Friday. “It feels good, I have to be honest.”But Labour’s jubilation may soon give way to trepidation given the economic challenges ahead. Making these problems even harder to solve: stubbornly low economic growth. To some extent, the government is likely hoping economic growth will be stronger than forecast and help with both goals.

Persons: Conservative Party —, Keir Starmer, ”, ” Gregory Thwaites, ” ‘, “, Paul Johnson, —, Dominic Lipinski, Johnson, Louise Hellem, Rachel Reeves, Stefan Rousseau, ” Brexit Organizations: London CNN — British, Labour Party, Conservative Party, National Health Service, Universal Credit, CNN, Labour, for Fiscal Studies, Bloomberg, Getty, Wealth Fund, Great, Great British Energy, “, Confederation of Business Industry, Conservative, Shadow, AP, European Union, Trade Locations: England, Scotland, Wales, Selby, UK, Great British, Britain, Southampton, United States

☆ Starmer pledges to ‘reset’ Britain as Labour takes over after 14 years of Conservative rule
▼ + stars: | 2024-07-05 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +10 min

London CNN —The Labour Party has won a landslide victory in the UK general election, sweeping into power after 14 years of Conservative rule on the back of a wave of public disillusionment. Addressing the nation from outside 10 Downing Street for the first time as prime minister, Starmer had one overarching message: Change starts now. There were high-profile casualties, with the short-lived former Prime Minister Liz Truss and several cabinet ministers being booted out by voters. Conservative leader and, as of Friday morning, former Prime Minister Rishi Sunak took responsibility for the electoral wipeout, apologizing to voters in his farewell address. Leaving the palace as the newly minted prime minister, he then headed straight to Downing Street.

Persons: Keir Starmer, King Charles III, Starmer, ”, Liz Truss, Rishi Sunak, Sunak, “, Akshata Murty, Nigel Farage, Donald Trump, Farage, Sinn Féin, Clodagh Kilcoyne, Rachel Reeves, Angela Rayner, David Lammy, Yvette Cooper, Jeremy Corbyn, Yui Mok, Tony Blair, Starmer –, –, Israel “, David Cameron, Brexit –, Boris Johnson Organizations: London CNN, Labour Party, Conservative Party, Labour, Conservative, Downing, British, Conservatives, Liberal, Lib Dems, Reform UK, Green Party, Scottish National Party, Irish, Democratic Unionist Party, DUP, Reuters Government, Home, Tories, European Union Locations: British, United Kingdom, Buckingham, Scotland, Northern Ireland, Ireland, Westminster, Starmer, Gaza, Britain, Europe, United States, Ukraine

☆ Meet Victoria Starmer, wife of new British Prime Minister Keir Starmer
▼ + stars: | 2024-07-05 | by ( Lianne Kolirin | ) edition.cnn.com time to read: +3 min

London CNN —The British public has elected a new government, and with that a new family will be moving into 10 Downing Street. So, who is Victoria Starmer, and what do we know about the new occupants of 10 Downing Street? Starmer’s wife, whom he usually refers to as Vic, kept a relatively low profile during the election campaign. Ian Forsyth/Getty ImagesBoth lawyers by training, they married in 2007 – the year before Starmer became Director of Public Prosecutions. Their relationship grew out of an unlikely first meeting at work, as the Labour leader told Piers Morgan in 2021.

Persons: Keir Starmer, Victoria Starmer, Vic, Ian Forsyth, Starmer, Piers Morgan, “, Morgan, ” Starmer, Victoria, ”, Emperor Naruhito, Masako, Aaron Chown, ITV’s Organizations: London CNN, British, Downing, Labour Party, Getty, Public Prosecutions, Labour, Guardian Locations: United States, Victoria, “, Israel, Japan, Buckingham Palace, London, British, Kentish Town

☆ Gaza: The Labour party’s position on the conflict appears to have cost it votes in the UK election
▼ + stars: | 2024-07-05 | by ( Christian Edwards | ) edition.cnn.com time to read: +5 min

Corbyn won 49.2% of the vote, while the Labour candidate came in second with 34.4%. Many of these seats where Labour appears to have lost votes over its position on Gaza have sizable Muslim populations. She said, after Streeting abstained from a vote on a Gaza ceasefire, she decided to enter politics and abdicate from Labour. “As a Palestinian, that place is no longer for me… The Labour party does not represent us,” she told CNN. Meanwhile Jess Phillips, also a prominent Labour figure, won her Birmingham Yardley seat by just 693 votes.

Persons: Keir Starmer, Jonathan Ashworth, Shockat Adam, ” Adam, Jeremy Corbyn, Ashworth, Corbyn, ”, Kate Hollern –, –, Adnan Hussain, Iqbal Mohamed, Heather Iqbal, Birmingham Perry Barr, Ayoub Khan, Khalid Mahmood, Faiza Shaheen –, Iain Duncan Smith, “, ” Shaheen, Starmer, Israel’s, Starmer –, Israel “, Wes Streeting, Leanne Mohamad, Mohamad, Streeting, Jess Phillips, Jody McIntyre Organizations: London CNN, Gaza, Labour, Leicester South, Islington, Blackburn, Dewsbury, Batley, Conservative, Hamas, LBC, Scottish National Party, CNN, Birmingham, Workers Party of Britain Locations: Gaza, English Midlands, Birmingham, Chingford, Woodford, London, Israel, Leicester, Ilford, Blackburn, Starmer’s, Ilford North, Palestine, Birmingham Yardley

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