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Persons: Rachel Sterling, Sterling, it's, Cutout.pro, You've, SitePro Organizations: Identity, Sterling's, Architects, Google, Sterling
Sterling breached $1.33 against the greenback for the first time since March 2022 on Thursday, and was trading at $1.3315 early London time Monday. The pound's rally was tied to the BOE communication and "looks fully justified," Chris Turner, global head of markets at ING, said in a Friday note. Higher rates are traditionally a positive for a domestic currency as the higher yield can attract more foreign capital. watch nowGabriella Dickens, G7 economist at AXA Investment Managers, also cautioned on the pound's outlook in a note Thursday. If the government is more stringent on fiscal policy, we think the Bank will be forced to increase the pace of the cutting cycle to offset the hit on both households' and businesses' finances."
Persons: Keir Starmer, BOE, Chris Turner, Turner, Jane Foley, Gabriella Dickens, Dickens Organizations: Bank of England, Labour, Sterling, greenback, London, ING, Fed, U.K, European Union, Rabobank London, CNBC, AXA Investment, Bank, quicken Locations: Britain,
U.K. stocks are looking particularly attractive after a fresh bout of market volatility, according to the chief investment officer of financial firm Wren Sterling. It is in this context that Wren Sterling's Rory McPherson believes British stocks look "cheap" and "under-owned." When asked whether investors should consider U.K. stocks as part of a shift away from U.S. tech companies, McPherson replied, "Well, we think so. I mean you look at the market like the U.K., it's on 12 times earnings, its cheap, its under-owned. Analysts have recently turned bullish on U.K. stocks, which had been unpopular for years.
Persons: Wren Sterling, Wren, Rory McPherson, McPherson, CNBC's, " McPherson Organizations: Global, U.S, Analysts, BlackRock Investment, BlackRock, Labour Party, CNBC, Bank of, Bank of England Locations: U.S
Learn moreThe complicated history behind the LA Clippers is finally getting the miniseries treatment with a new FX on Hulu series. Keep reading to learn everything you need to know about where to watch Clipped. Clipped tells the scandalous story of former Clippers owner Donald Sterling's (Ed O'Neill) reign. Keep reading to learn all of the details on Clipped, including what time new installments drop and how many episodes are expected this season. How to watch Clipped in the USNew episodes of Clipped are available to stream on Tuesdays at 12 a.m.
Persons: Donald Sterling's, Ed O'Neill, Doc Rivers, Laurence Fishburne, Donald, Shelly, Jacki Weaver, Stiviano, Cleopatra Coleman, Gina Welch, ExpressVPN Organizations: Business, LA Clippers, Hulu, Clippers, NBA, The Sterling Affairs, ESPN Locations: United States
But Trent Alexander-Arnold drilled in an 80th-minute equaliser with his right foot to deny City a 24th successive home win in all competitions. The result left City on 29 points from 13 games with Liverpool one point behind and Arsenal later claimed a late 1-0 victory at Brentford thanks to Kai Havertz's header. Arsenal leapfrogged Liverpool and City into first place with 30 points. Haaland did what he does best, firing home after Alisson's poor clearance had found its way to Nathan Ake. Not only in the goal -- around the goal, in all situations he was a really important player and a really good game from him," Liverpool manager Juergen Klopp said.
Persons: Erling Haaland, Alisson, Andy Cole, Trent Alexander, Arnold, Kai Havertz's, Haaland, Nathan Ake, Alexander, Trent, Juergen Klopp, Aaron Ramsdale, Bryan Mbeumo, Declan Rice, Leandro Trossard, Havertz stooped, Mikel Arteta, Chelsea, Mauricio Pochettino, Alexander Isak, Raheem Sterling's, Jamaal Lascelles, Newcastle's, Thiago Silva, Reece James, Anthony Gordon, Pochettino, Joao Pedro, Lewis Dunk, Jacob Brown, Martyn Herman, Toby Davis Organizations: Premier League, Brentford Newcastle, Chelsea, Manchester City, Liverpool, City, Arsenal, Brentford, Newcastle United, Brighton, Hove Albion, Nottingham Forest, Sunday, Newcastle, Luton Town, Burnley, West Ham United, Bournemouth, Sheffield United, Thomson Locations: Liverpool, Newcastle, Forest, Crystal
Camila Sterling, an aspiring singer, overdosed in music exec David Bolno's hotel room. Friends feel there's no closure around Sterling's death. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Bolno also seems to have created a record label with the primary purpose of releasing Sterling's music. AdvertisementRead Business Insider's full report on Camila Sterling's life and death here .
Persons: Camila Sterling, David Bolno's, Bolno bankrolled, Bolno, , David Bolno, Drake, Justin Bieber, Sterling, Camila Sterling's, Moet, tusi Organizations: Service, Miami Beach, Daily Mail, luxe Paramount Miami Worldcenter, Puerto Rican, DTB Records, Bolno, BI Locations: Colombian, Miami
He also created an LLC under his initials in 2021, seemingly for the sole purpose of releasing Sterling's music. But since Sterling's death, Bolno has worked to distance himself from the tragedy and buff his reputation online. On June 29, 2023, three months after Sterling's death, Ozuna and Andino signed to SB Projects, Scooter Braun's management company. Since Sterling's death, Bolno has appeared to try to distance himself from the tragedy. However, in September, a message from Centeno's email address sent on behalf of Sterling's mother asked Insider to stop reporting on Sterling's death.
Persons: Camila Sterling, David Bolno, Scooter Braun's, Drake, Post, Bolno, Sterling, — who's, Daily Mail —, , Laura Camila Lozano Sterling, Selena Gomez, Enmanuel Hernández Rodriguez, Rodriguez, it's, Scooter Braun, Taylor Swift, Camila Sterling's, Shaun White, schmoozing, sunning, David Geffen's, he's, Will.i.am, Justin Bieber, hadn't, bigwig, He's, Mariah Carey, Braun, Ariana Grande, Demi Lovato, Scooter, who's, Scooter hasn't, Peter Comisar, Comisar, Michael Tran, Bieber, he'd, David Grutman, LIV, Grutman, she'd, I'm, David, Usher, Sterling's, John Parra, I'd, Nordhia Centeno, Laura Castellanos Torres, Edgar Andino, Andino, Sterling wasn't, Gabby, there's, Sterling texted, Escalade, Cartier Juste, Bruce Lehr, tusi, Fabio Cabrera, Ernesto Rodriguez, Evan Siegfried, Mickey Segal, NKSFB, Nubia Esperanza Sterling Artunduaga, Camila, Rocio Cruz Maldonado, Centeno, Marcie Stefan Organizations: Miami Beach, Daily Mail, Miami Beach Police Department, Puerto, Sterling, Trump, Intracoastal Yacht, Space, Miami Dade College, Puerto Rican, Pump, Miami, DTB Records, Spotify, Records, Temple Law School, Ithaca Holdings, luxe Paramount Miami, Studios, Bay Eight Recording Studios, YouTube, Zero, SB Projects, Paramount Miami Worldcenter, Representatives, Police, Unreal Mobile, Red Pocket, European Business, University of Locations: Post Malone, Miami, Sterling, Latin America, Colombia, Bogotá, American, Puerto Rican, Sunny, Moscow, Sunny Isles, Givenchy, Cuba, Los Angeles, Delaware, Puerto Rico, New York City, Medellín, Ithaca, Korean, Brentwood, North Miami, French Montana, Bolno's, Miami Beach, Jerusalem, Nubia
Destiny Udogie was shown a second yellow card 10 minutes after the break leaving the home side hanging on for a point. Australian Postecoglou said his first Premier League defeat was hard to analyse. BEST STARTTottenham have enjoyed their best start to a top-flight season since 1960 with Postecoglou the first manager to go unbeaten in his first 10 Premier League games. Chelsea were chasing shadows initially and were relieved when Son's effort was ruled out for offside. Minutes later Chelsea's Moises Caicedo drove a low shot home through a crowd but that was ruled offside and confirmed by VAR.
Persons: Chelsea's Nicolas Jackson, Reece James, Moises Caicedo REUTERS, Tony Obrien, Tottenham Hotspur's, Nicolas Jackson, Mauricio Pochettino, Chelsea, Dejan Kulusevski's, Son Heung, Chelsea scuppered, Cristian Romero, Cole Palmer, Micky van de, James Maddison, Udogie, Jackson, Eric Dier, Son, Robert Sanchez, Ange Postecoglou's, Postecoglou, we're, I'm, Kulusevski's, Levi Colwill, wrongfoot Sanchez, Raheem Sterling, Romero, Colwill, Moises Caicedo, Michael Oliver, Enzo Fernandez, Maddison, Van de, Pochettino, Martyn Herman, Ken Ferris Organizations: Soccer Football, Premier League, Tottenham Hotspur, Chelsea, Tottenham, Spurs, Manchester City, BEST, Argentina, Sterling, Thomson Locations: London, Britain, Chelsea's, Sterling's, Senegal
U.S. dollar bills, British GDP and Euro currency bank notes are pictured on September 27, 2022 in Bath, England. Matt Cardy | Getty Images News | Getty ImagesLONDON — The British pound suffered its worst month against the U.S. dollar for a year in September, and strategists show little optimism for the rest of the year, as growth expectations weaken once again. Sterling fell 3.75% against the dollar through the month, logging a decline not seen since the end of last summer. The pound also slid 1.26% against the euro last month, notching its weakest performance since December 2022. Exchange rates have been impacted over the past two years by interest rate expectations, with higher rates generally making a currency more attractive for foreign investment.
Persons: Matt Cardy, Sterling, Liz Truss, Jane Foley, Foley, Jim McCormick, CNBC's Organizations: Getty, U.S, Bank of England, U.S ., Rabobank, CNBC, European Central Bank, of England, Citi, Federal Reserve, ECB, Organization for Economic Co, Development Locations: Bath, England, U.S, Germany
The dollar's dominance is being threatening by growing debt in the US, economist Barry Eichengreen said. High debt caused the downfall of the British sterling as a global currency in the early 1900s, scholars say. Mounting debt was responsible for the British sterling's downfall as the world's top currency in the early 1900s, Eichengreen said. AdvertisementAdvertisement"Thus, whether the dollar retains its global role will depend not simply on US relations with Russia, China, or the BRICS. But a weaker dollar isn't necessarily a bad thing, as US companies with business overseas can be hurt if the dollar is too strong against local currencies.
Persons: Barry Eichengreen, Eichengreen, there's Organizations: Service, International Monetary Fund, Syndicate, UC Berkeley, Congressional, Office Locations: Wall, Silicon, China, Russia
Pound's mini-budget dip made UK's Brexit bill dearer
  + stars: | 2023-08-01 | by ( Andy Bruce | ) www.reuters.com   time to read: +3 min
In previous years, the Treasury's "reportable losses" have ranged between zero and a few million pounds. This 855 million-euro payment cost Britain 764 million pounds on a day when 1 pound would buy only 1.12 euros. Back in April 2022, when the EU updated Britain's payment schedule for June through September, it assumed an exchange rate of around 1.18 euros per pound - equating to monthly payments of 719 million pounds rather than 764 million pounds. Still, that small net gain represents a sharp drop from March 2022 when it stood at 91.2 million pounds - with the payment on Sept. 30 a conspicuous loss-maker. Economists put the broader costs of the mini-budget episode - stemming from loss of investor confidence and higher market interest rates - in the billions of pounds.
Persons: Dado Ruvic, Liz Truss's, James Murray, Kwasi Kwarteng, Mark Potter Organizations: REUTERS, European Union, Britain, Treasury, Labour Party, Reuters, Thomson
Headline British consumer price inflation fell to 7.9% year-on-year in June, against expectations for 8.2%, in the latest downside surprise for a major economy after more than 18 months of central banks cranking interest rates higher. The BoE now had "the green light" for a 25 basis point (bps) rate rise next month, Pantheon Macroeconomics chief UK economist Samuel Tombs said, after markets had previously priced a further 50 bps hike. "Profit taking in sterling should not be a surprise," added Kenneth Broux, head of FX and rates corporate research at Societe Generale in London. The 10-year yield, a benchmark for debt costs in the Euro-zone, fell 5 bps to 2.35% . Futures trading indicated Wall Street's S&P 500 and Nasdaq 100 share indices would open steady later in the day.
Persons: Sterling, BoE, Samuel Tombs, Kenneth Broux, Germany's, Klaas, Chris Weston, Sam Holmes, Bernadette Baum Organizations: LONDON, Headline, Sterling, . Federal, Bank of England, Macroeconomics, Societe Generale, European Central Bank, ECB, Pepperstone, Nasdaq, Bank of, Thomson Locations: SYDNEY, London ., disinflation, Europe, Melbourne
Morning Bid: China falls short and oil ebbs but banks impress
  + stars: | 2023-07-17 | by ( ) www.reuters.com   time to read: +4 min
Sub-forecast and sharply slowing retail sales growth for June likewise offset a more upbeat industrial output readout for the months. Even though falling import and export prices in June reinforced the disinflation picture, two-year Treasury yields recouped some of the week's steep declines. LUXURY FIRMSU.S. stock futures were little changed ahead of Monday's open, but two-year Treasury yields edged back lower to 4.72%. Elsewhere, shares of Richemont (CFR.S) dropped nearly 7% after the world's second-biggest luxury firm reported a miss in its sales and amid the China growth dampener. U.S. Treasury Secretary Janet Yellen said she was working with India on energy transition and "eager" to work with China on debt workouts.
Persons: Mike Dolan China's, Wells, Morgan Stanley, Janet Yellen, Mike Dolan, Alison Williams Organizations: Hong, Reserve, Nasdaq, Treasury, JPMorgan, Citi, Bank of America, Tesla, Netflix, York Federal, governor's, . Treasury, Reuters, Thomson Locations: U.S, China, Hong Kong, Tokyo, Asia, Shanghai, Wall, Richemont, India, Russia, China . U.S
Morning Bid: Markets bet July 2023 is 'peak Fed'
  + stars: | 2023-07-13 | by ( ) www.reuters.com   time to read: +4 min
A look at the day ahead in U.S. and global markets from Mike DolanSurprise news of a 2%-plus print on U.S. headline inflation rate for June has world markets betting the peak of the Federal Reserve's interest rate campaign will now be this month. Either way, the latest inflation cheer means U.S. rate futures have wiped out bets of another Fed rate hike after a final quarter-point move to 5.25-5.50% at July 26's meeting. Although they see peak rates held there to year-end, futures now price as much as a full percentage point of cuts by this time in 2024. The VIX "fear index" (.VIX) fell back below 14 to its lowest of the month so far. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Mike Dolan, That's, Christopher Waller, Mary Daly, Joe Biden, Christine Lagarde, Toby Chopra Organizations: Fed, Nasdaq, PepsiCo, Delta Airlines, Bank of, Swiss, Bank of Canada, Federal Reserve, San Francisco Fed, Nordic, European Central Bank, . Treasury, Reuters, Thomson Locations: U.S, Beijing, Jackson, Fastenal, Helsinki, Brussels, Japan
ORLANDO, Florida, June 30 (Reuters) - Britain has an inflation problem, but imagine how much worse it would be were it not for the strong pound? But of all the factors pushing up UK inflation, including some that are unique to Britain's economy, labor market and cost of doing business as a consequence of Brexit, a weak exchange rate is not one of them. Indeed, sterling's value on a real effective exchange rate (REER) basis is the highest it has been since the Brexit vote. "UK inflation would indeed be even higher if sterling had not appreciated," Novy said. All else being equal, and taking into account the notorious 'long and variable' lag between interest rate hikes and cooling price pressures, UK inflation could come down pretty quickly next year.
Persons: Liz Truss's, Dennis Novy, Novy, BoE, turvy, Alan Ruskin, Ruskin, Goldman Sachs, Jamie McGeever, Jonathan Oatis Organizations: Bank of England, Reuters, University of Warwick, Brexit, Deutsche Bank, Thomson Locations: ORLANDO, Florida, Britain, Ukraine
After an initial rise, sterling fell as much as 0.56% against the dollar to a low of $1.2691 following this month's inflation figures. Investors and money managers now turn their focus to Fed chief Jerome Powell's testimony before Congress at 10:00 a.m. "The former may do more to give additional support to send the dollar index and (bond) yields higher." The rally against the yen pushed the U.S. dollar index , which measures the currency against six major peers, up slightly to 102.58. "The Aussie could dip below 0.6700 this week, particularly if Powell is hawkish," he said.
Persons: Powell, Jerome Powell's, Adam Cole, Kazuo Ueda, Tuesday's, Joe Capurso, Bitcoin, Charles Schwab, Tom Westbrook, Farouq Suleiman, Sam Holmes, Kim Coghill, Sharon Singleton Organizations: Federal, RBC Capital Markets, Bank of Japan, U.S, Commonwealth Bank of Australia, Fidelity, Citadel Securities, Thomson Locations: SINGAPORE, LONDON, Asia, Pacific, China, Tokyo
To be sure, the April inflation data hit the UK debt market like a thunderbolt. While the headline consumer price inflation rate dropped to 8.7% from 10.1% in March, as energy prices ebbed, that was still far higher than forecast and core inflation rates hit their highest in 31 years at just under 7%. And a chief concern for many households is ongoing annual food price inflation still near 20%. Sterling and real yield spreadsNew UK gilt shock? Using 5-year real yields from the index-linked bond market, that premium jumped almost 40bp this week to its highest since last October.
Take Five: More drama on the horizon
  + stars: | 2023-05-19 | by ( ) www.reuters.com   time to read: +5 min
LONDON, May 19 (Reuters) - There's no shortage of events, data and high drama for markets in the days ahead. 1/ USA WATCHCritical U.S. inflation data will allow investors to gauge whether the Federal Reserve will be able to pause its interest rate hiking cycle, as many on Wall Street expect. The personal consumption expenditures (PCE) price index, tracked by the Fed, is due on Friday for April. That was the smallest rise since July and, with the consumer price index slowing in April to below 5% on annual basis, hope for peak rates has grown. Yet this narrative could lose steam if Wednesday's April inflation data shows price rises are moderating.
Sterling falls as cracks appear in Britain's job market
  + stars: | 2023-05-16 | by ( ) www.reuters.com   time to read: +2 min
Sterling fell by as much as 0.52% against the dollar to a session low of $1.2466, and by as much as 0.4% against the euro . Right now, the derivatives market shows traders believe UK rates will peak at 4.80% in November, down from 4.86% a day ago. Tuesday's data showed pay growth - which is at the heart of the BoE's debate about whether to raise interest rates further - remained strong by historical standards. That said, with inflation at 10.1%, pay growth in real terms is still deeply negative and close to its weakest in years. Markets are attaching a 68% chance that the BoE will raise rates by a quarter of a point to 4.75% and a 32% chance of no change.
Newcastle drop points in top-four race, Southampton down
  + stars: | 2023-05-13 | by ( ) www.reuters.com   time to read: +4 min
LEEDS, England, May 13 (Reuters) - Newcastle United suffered more jitters in their quest to finish in the Premier League's top four as they drew 2-2 at relegation-threatened Leeds United but Southampton's agony is over after being relegated on Saturday. Leeds defender Rasmus Kristensen's second-half equaliser denied Newcastle the victory that would have all but assured them a place in next season's Champions League. Southampton have 24 points from 36 games, 19th-placed Leicester City have 30 from 35 with Leeds on 31 points from 36 games and Everton on 32 from 35. Newcastle striker Alexander Isak was then hacked down by Maximillian Wober and Callum Wilson converted from the penalty spot. Newcastle were awarded a second penalty midway through the second half when Firpo handled and Wilson proved deadly once again.
With a wry nod to the weekend coronation of King Charles, Goldman Sachs' currency team labelled an upgrade of its sterling recommendation from neutral to 'Long (live) Sterling' - nudging a 3-month forecast for sterling 3% stronger to 0.86 per euro. "Headwinds on sterling in 2022 - mostly natural gas prices and the relative stance of BoE policy - have turned to tailwinds." Economic surprise indexes compiled by Citi show incoming UK readouts more positive relative to expectations than at any time since October 2020. But the FTSE 250 is mostly holding its own so far in 2023 as they have both advanced 3%-4%. UK Economic Surprises surge vs rest of the westG3 Terminal RatesFTSE100 vs FTSE250The opinions expressed here are those of the author, a columnist for Reuters.
LONDON, May 5 (Reuters) - The pound rose to just shy of a one-year high against the dollar on Friday, and to a one-month high against the euro, as traders eyed the Bank of England's interest rate decision next week. Sterling was up 0.21% at $1.26 on Friday, after reaching $1.263 earlier in the session, the highest since late May last year. The euro was down 0.14% against the pound at 87.49 pence, after earlier falling to 87.42 pence, the lowest since April 6. The European Central Bank on Thursday raised rates by 25 bps, a step down in the pace of monetary tightening. Traders broadly expect the Bank of England to raise rates by 25 basis points to 4.5% on Thursday next week, according to pricing in derivatives markets.
Morning Bid: Sterling's inflation test
  + stars: | 2023-04-19 | by ( ) www.reuters.com   time to read: +2 min
A look at the day ahead in European and global markets from Tom WestbrookTraders are scaling back bets on U.S. rate cuts, but dialling up expectations for British hikes. On Tuesday, it was bigger-than-expected pay rises that strengthened expectations for the Bank of England to lift rates next month and to continue doing so thereafter. On Wednesday, British inflation data is in focus. On balance, the sheer size of the Bank of England's task of reining in inflation has been supportive for sterling, which hit a 10-month high last week. Implied volatility in the options market suggests traders don't expect sudden changes in the currency's slow grind higher.
A top election official in Georgia took aim at Rep. Marjorie Taylor Greene, R-Ga., for spreading "disproven conspiracies" after she falsely claimed during a House panel on election integrity that former President Donald Trump won the state in the 2020 election. Sterling, who came into the national spotlight when he denounced false claims of election fraud in Georgia after the 2020 election, was one of several elections officers who appeared Tuesday before the GOP-led House Election Integrity Caucus. Greene then made the repeatedly disproven assertion that there were "thousands" of dead voters whose ballots were counted in Georgia. "I'm going to follow up with one more thing: Trump won Georgia," Greene said, before voicing more election conspiracies, including the debunked claim that "suitcases" full of ballots were secretly scanned in Atlanta. Trump never conceded the 2020 election to President Joe Biden.
LONDON, Dec 16 (Reuters) - The Bank of England looks like it's being outed as the weakest link. The primary reason was that two of the nine-person MPC voted to end the Bank's rate rise campaign right away as the recession the Bank thinks is already underway will get entrenched next year. But with the median economist forecast for the Bank's terminal rate somewhere around 4.25%, markets still seem aggressively positioned for a hawkish surprise and the pound may be more vulnerable to that revision as the winter progresses. Significantly, the implied Fed terminal rate edged higher to 4.9% after its policy setpiece on Wednesday - even if is still below the 5.1% the Fed indicated. Reuters Graphics Reuters GraphicsReuters GraphicsReuters Graphics Reuters GraphicsThe opinions expressed here are those of the author, a columnist for Reuters.
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