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Hot UK labour market raises pressure on BoE to act again
  + stars: | 2023-06-13 | by ( Andy Bruce | ) www.reuters.com   time to read: +3 min
Employment and wage growth soared during the three months to April while the unemployment rate fell, according to the Office for National Statistics. Outside of the COVID-19 pandemic, when wage statistics were skewed by furlough schemes, it was the highest reading on record. Including bonuses, wage growth jumped to 6.5% from 6.1% previously, but it still lagged inflation, meaning Britons are suffering declining pay in real terms. "With the possibility of higher-for-longer rates, a UK recession looks unavoidable as tight monetary policy filters into the real economy - including the housing market," Medhi said. BoE officials are likely to note that the headline employment and wages data came in above all forecasts, while the unemployment rate was below all forecasts.
Persons: BoE, Sterling, Hussain Mehdi, Medhi, Andy Bruce, Sachin Ravikumar, Sarah Young, Kate Holton, Bernadette Baum Organizations: Reuters, Bank of England, Office, National Statistics, RBC, HSBC Asset Management, Thomson
Microsoft is introducing new AI features on its Bing search engine giving users the ability to search visually. Users will soon be able to upload images to Bing and search the web for related content. Bing exceeded 100 million daily active users just a month after its AI updates. Other visual updates will offer image-based answers like charts and graphs and the option to receive an answer in different formats. This follows from Microsoft's integration of Bing Image Creator with Bing Chat, which lets users generate written and visual content in one place.
Medhi Hamadouchi found an agent after sticking thousands of headshots around New York and London. "All the stars aligned in this case," Hamadouchi's new agent Paul Byram told Insider. "All the stars aligned in this case and we are all very happy with the outcome," Paul Byram told Insider. Earlier this month, Hamadouchi redoubled his efforts with 5,000 headshots stuck on walls in places such as Oxford Circus Tube station. Local authorities asked him to stop fly-posting, Hamadouchi told Variety — and he once fled from someone he thought was a council officer.
A Halloween party in Seoul ended in at least 154 deaths after the streets became badly crowded. The phenomenon, called crowd surging, comes down to basic physics, an expert told Insider. At least 154 people died in Seoul on Saturday when a Halloween street party caused a crowd so dense it crushed people to death. Drone footage of the empty stage that hosted the 2021 Astroworld Festival where people died from crowd surging. Nathan Frandino/ReutersInformation is keyThis is not the first time crowd surging has killed.
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