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☆ Europe inflation may spike on Olympics and Taylor Swift, but UBS says it won't hit locals' wallets
▼ + stars: | 2024-08-11 | by ( Sean Conlon | ) www.cnbc.com time to read: +7 min

Kevin Voigt | Getty Images Sport | Getty ImagesThe Olympic Games are causing a surge in prices, but French consumers aren't likely to feel its pinch. "The Olympic Games or a Taylor Swift concert create a sudden demand shock," wrote Paul Donovan, chief economist at UBS Global Wealth Management, in a recent analyst note. But in the days after the closing ceremony, Paris hotel bookings are projected to drop from a year ago. Tourists pass near a banner with the Paris 2024 logo before the start of the Paris 2024 Olympic and Paralympic Games on June 17, 2024 in Paris, France. Paris 2024 may generate as much as $12 billion, or 11.1 billion euros, in long-term economic impact, a recent study from the Centre for Law and Economics of Sport estimated.

Persons: Kevin Voigt, Taylor, Paul Donovan, Taylor Swift, Kevin Mazur, Swift, Donovan, Matthias Hangst, it's, ove Organizations: Eiffel, Getty, UBS, UBS Global Wealth Management, Wembley, Olympics, City of Light, Games, CNBC, —, Olympic, Paralympic Games, Paralympics, Paris, Chesnot, Visa, Paris Olympics, Centre for Law, Sport, Olympic Committee Locations: Paris, France, London, City, Greater Paris, U.S, Triomphe, cardholders, Barcelona

☆ Online disinformation sparked a wave of far-right violence in the UK — here's how
▼ + stars: | 2024-08-09 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +7 min

This escalated into days of riots in the U.K. that saw attacks on mosques, immigration centers and hotels that house asylum seekers. The disinformation circulated online tapped into pre-existing biases and prejudice, Ondrak explained, adding that incorrect reports often thrive at times of heightened emotions. Many of the right-wing protestors claim the high number of migrants in the U.K. fuels crime and violence. Ondrak also noted that many groups that had previously circulated false information about the attack had started walking it back, saying it was a hoax. On Wednesday, the U.K. media regulator Ofcom issued a letter to social media platforms saying they shouldn't wait for the new law to come into force.

Persons: Christopher Furlong, Ali, Hannah Rose, Joe Ondrak, It's, Ondrak, it's, ISD's Rose, Rose, Thabo Jaiyesimi, Elon Musk, pushback, Benjamin Cremel Organizations: Riot, Getty, LinkedIn, Institute for Strategic, CNBC, Police, Telegram, Ofcom, Afp Locations: Rotherham, United Kingdom, Southport, Britain, U.K, Walthamstow, London

☆ UK investment platform Hargreaves Lansdown agrees to $6.9 billion takeover by CVC consortium
▼ + stars: | 2024-08-09 | by ( Katrina Bishop | ) www.cnbc.com time to read: +1 min

A logo on the headquarters of Hargreaves Lansdown Plc in Bristol, UK, on Thursday, Aug. 8, 2024. LONDON — British investment platform Hargreaves Lansdown said on Friday it had agreed to a takeover offer equivalent to £5.4 billion ($6.9 billion) by a group of investors including CVC Group. Shareholders in Hargreaves Lansdown — the U.K.'s biggest stockbroker — will get 1,110 British pence per share and a dividend of 30 pence per share under the deal, the company said. The news comes after the company in May rejected an offer from the consortium of £4.7 billion, or 985 pence per share. At the time, Hargreaves Lansdown said the bid "substantially" undervalued the company and its prospects.

Persons: Hargreaves Lansdown, Abu, — Organizations: LONDON, CVC Group, Nordic Capital Locations: Bristol

☆ Goldman Sachs added these stocks to its global conviction lists, giving them more than 30% upside
▼ + stars: | 2024-08-09 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Goldman Sachs has added a number of stocks to its lists of top picks for August. These lists are the bank's "curated and active" picks of between 15 and 30 top buy-rated stocks for each region. Goldman gave the stock a price target of 2,499 pence ($31.79), or about 34% upside. Goldman gave the stock a price target of 13.98 Hong Kong dollars ($1.79), or about 46% upside. Goldman gave the stock a price target of 125 Chinese yuan ($17.51), or nearly 61% upside.

Persons: Goldman Sachs, Goldman, — CNBC's Michael Bloom Organizations: Goldman, Lenovo, Hong Locations: United States, Europe, Asia, London, U.K, Hong Kong

The Food and Drug Administration’s “hands-off approach” to food additives, including those found in ultraprocessed foods and energy drinks, may allow unsafe ingredients to enter the nation’s food supply, according to the authors of an editorial published Thursday. While food manufacturers can request an FDA review of new ingredients before they are added to products — and they sometimes do — they are not required to do so. From 1990 to 2010, an estimated 1,000 substances were labeled GRAS by manufacturers and were used without notifying the agency, Pomeranz said, citing earlier research. Since then, she added, there have likely been many more ingredients added to the nation’s food supply without the FDA’s oversight. “We have no idea how many substances are in the food supply based on this self-GRAS mechanism,” Pomeranz said.

Persons: ”, Jennifer Pomeranz, “, Pomeranz, ” Pomeranz, Xaq, ” Frohlich, Richard Mattes, ” Mattes, “ It’s Organizations: American, of Public Health, FDA, European Union, NYU School of Global Public Health, Auburn University, Purdue University Locations: India, Japan, GRAS, Alabama, Indiana

☆ Amazon's $4 billion investment in AI firm Anthropic faces U.K. merger investigation
▼ + stars: | 2024-08-08 | by ( Ryan Browne | ) www.nbcnews.com time to read: +4 min

LONDON — E-commerce giant Amazon’s multibillion-dollar investment in the U.S. artificial intelligence firm Anthropic is formally being investigated by a U.K. competition regulator. Amazon completed in March a $4 billion investment in Anthropic. As part of the deal Amazon will make Anthropic’s powerful large language models available on its Bedrock platform for building generative AI applications. An Anthropic spokesperson told CNBC: “We are an independent company. The CMA is separately scrutinizing U.S. software giant Microsoft’s multibillion-dollar partnership and investment in AI giant OpenAI.

Persons: Anthropic, Anthropic “, ”, Matt Calkins, Appian, ” Calkins, you’ve, “ Organizations: Markets, CMA, Amazon, CNBC, Microsoft, U.S . Federal Trade Commission, Google, Big Tech Locations: U.S, Anthropic

☆ How Anti-Immigrant Riots Flared in the U.K.
▼ + stars: | 2024-08-08 | by ( Nader Ibrahim | Peter Robins | ) www.nytimes.com time to read: +1 min

After more than a week of sporadic far-right violence, a fever seemed to ease in Britain on Wednesday night. During the previous days, racist and anti-immigrant rioting had flared in more than a dozen towns and cities across England and in Northern Ireland. The spark for the rioting was anger over a knife attack that killed three young girls and falsehoods that spread online about the perpetrator. Those participating in the riots have remained a small and strongly unpopular fringe, disowned even by politicians who seek to channel broader public misgivings about immigration. His assault killed three girls: Alice Dasilva Aguiar, 9; Elsie Dot Stancombe, 7; and Bebe King, 6.

Persons: ’, Taylor Swift, Alice Dasilva Aguiar, Elsie Dot Stancombe, Bebe King Locations: Britain, England, Northern Ireland, Southport

☆ Dolce & Gabbana launches $100 perfume for dogs inspired by owner's poodle
▼ + stars: | 2024-08-08 | by ( April Roach | ) www.cnbc.com time to read: +3 min

(Photo by Alberto PIZZOLI / AFP) (Photo by ALBERTO PIZZOLI/AFP via Getty Images)Dolce and Gabbana's luxury perfume for dogs — costing over $100 — has sparked concerns from some animal welfare organizations. The Italian fashion house's alcohol-free fragrance mist for dogs, which costs £83 ($105) on its U.K. website, is inspired by Fefé, the pet dog of brand-owner Domenico Dolce. However, the fragrance has drawn some concern from animal welfare organizations and experts who warn that perfumes can interfere with a dog's sense of smell. Oils such as ylang ylang which is included in Fefé, can also have a positive effect, he said. RSPCA's Potter also noted that some "lightly-scented products," which do not use aversive scents or interfere with a dog's sense of smell, can have a calming effect.

Persons: Domenico Dolce's, Alberto PIZZOLI, ALBERTO PIZZOLI, —, Fefé, Domenico Dolce, Ylang, Gabbana, Alice Potter, Donald Maurice Broom, Broom, RSPCA's Potter, we'd, Potter, Dolce Organizations: Dolce, Gabbana, Getty, RSPCA, Cambridge Veterinary School Locations: Rome, AFP, Fefé

☆ As disinformation spreads during UK riots, regulators are currently powerless to take action
▼ + stars: | 2024-08-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

But even as online disinformation related to stabbings in the U.K. has led to real-world violence, Ofcom, Britain's online safety regulator finds itself unable to take effective enforcement actions. Shortly after the attack, social media users were quick to falsely identify the perpetrator as an asylum seeker who arrived in the U.K. by boat in 2023. U.K. officials subsequently issued warnings to social media firms urging them to get tough on false information online. Peter Kyle, the U.K.'s technology minister, held conversations with social media firms such as TikTok, Facebook parent company Meta , Google and X over their handling of misinformation being spread during the riots. watch nowUnder the Online Safety Act, the sending of false information intended to cause non-trivial harm is considered a punishable criminal offense.

Persons: Christopher Furlong, knifeman, Taylor Swift, Axel Rudakubana, Peter Kyle, Gill Whitehead, Whitehead Organizations: Riot, Ofcom, Police, Facebook, Meta, Google, CNBC Locations: Rotherham, U.K, Southport, Merseyside

☆ Amazon's $4 billion investment in AI firm Anthropic faces UK merger investigation
▼ + stars: | 2024-08-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Chesnot | Getty ImagesLONDON — E-commerce giant Amazon's multibillion-dollar investment in the U.S. artificial intelligence firm Anthropic is formally being investigated by a U.K. competition regulator. As part of the deal Amazon will make Anthropic's powerful large language models available on its Bedrock platform for building generative AI applications. "By investing in Anthropic, Amazon, along with other companies, is helping Anthropic expand choice and competition in this important technology. Amazon's spokesperson added that the company will continue to make Anthropic's models available to customers via Bedrock. "We welcome the opportunity to cooperate with the CMA and provide them with a comprehensive understanding of Amazon's investment and our commercial collaboration."

Persons: Dario Amodei, Anthropic Organizations: Getty, Markets, CMA, Amazon, CNBC, Microsoft, U.S . Federal Trade Commission, Google Locations: Chesnot, U.S, Anthropic

☆ Eli Lilly's blowout quarter should quiet investor concerns about the stock
▼ + stars: | 2024-08-08 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +11 min

Eli Lilly on Thursday reported a home-run quarter fueled by sales of its blockbuster obesity and diabetes drugs, quieting any lingering investor concerns in the stock. Eli Lilly Why we own it: Eli Lilly's best-in-class drugs should enable growth above the industry average for many years to come. The report left little doubt that Eli Lilly's best days are ahead, driven by the growth of GLP-1s. It's really early" for Zepbound, Eli Lilly CEO David Ricks said in a CNBC interview Thursday. But the good news is Eli Lilly's multibillion dollar investments to expand manufacturing capacity are paying off.

Persons: Eli Lilly, Eli Lilly's, Zepbound, Jim Cramer, Lilly, David Ricks, It's, We're, Eli Lilly hasn't, Novo, spooked Lilly, Gordon Brooks, it's, Ricks, Brooks, Verzenio, —, didn't, Jim Cramer's, Jim, George Frey Organizations: Revenue, LSEG, Novo Nordisk, Biogen, Merck, Pfizer, CNBC, Food and Drug Administration, Viking Therapeutics, Novo Nordisk —, FDA, RTP, Bloomberg, Getty Locations: Eisai, U.S, GLP, Roche, it's, Indianapolis, North Carolina, Europe, Germany, Provo , Utah

What does the Olympics controversy over Algerian boxer Imane Khelif have to do with J.K. Rowling’s home wallpaper? A representative for Rowling declined to comment on her wallpaper and the backlash to her posts about Khelif. LGBTQ people and groups like GLAAD have condemned Rowling’s views, calling them transphobic, and “Harry Potter” actor Daniel Radcliffe spoke out against her in 2020. Some of Rowling’s defenders responded to the mold posts, suggesting that what people online claim is mold is actually wallpaper. Google search interest in “jk rowling mold” has also skyrocketed since then, with breakout search queries like “jk rowling black mold meme” in Canada, the U.S., the U.K. and Australia.

Persons: Imane Khelif, —, “, ” Khelif, Rowling, ” “, ”, Harry Potter, Daniel Radcliffe, X, Harry Potter ”, Rowling’s, JD Vance, “ jk rowling Organizations: International Olympics, IOC, ” “ Jk, GLAAD, “ Locations: British, Russian, Canada, U.S, Australia

☆ Elon Musk ‘accountable to no one,’ UK tech minister says amid disinformation during riots
▼ + stars: | 2024-08-07 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Elon Musk is "the one person who is accountable to no one" and his impact on public discourse should not be underestimated, the U.K.'s technology minister said in an interview with the Times newspaper, adding to recent criticisms of the technology billionaire from senior government officials. Peter Kyle, secretary of science, innovation and technology, said in the interview, which was published Wednesday, that Musk has the power to influence major world affairs — even the war between Russia and Ukraine. Kyle added that the relationship Britain has with companies such as X and other major social media firms, "is much more akin to the negotiations with fellow secretaries of state in other countries, simply because of the scale and scope that they have." His comments, which were made before the recent riots in the U.K., follow Sunday's controversial remarks from Musk about British affairs. On Monday, the British prime minister's official spokesperson said there was "no justification" for comments like those made by X's owner and chairman.

Persons: Elon Musk, Peter Kyle, Musk, —, Kyle Organizations: Times Locations: Russia, Ukraine, Britain

☆ Novo Nordisk shares dip as Wegovy maker posts earnings miss, cuts operating profit outlook
▼ + stars: | 2024-08-07 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +3 min

Novo Nordisk Wegovy manufactured by Novo Nordisk packaging is seen in this illustration photo taken in a pharmacy in Krakow, Poland on April 8, 2024. EBIT — earnings before interest and tax — came in at 25.93 billion Danish kroner in the second quarter, which was also below the LSEG forecast of 26.86 billion Danish kroner. Novo Nordisk on Wednesday posted weaker-than-expected net profit in the second quarter and trimmed its operating profit outlook. Novo Nordisk CEO Lars Fruergaard Jørgensen on Wednesday said that the company was expecting "attractive growth" in the coming months. The drug was approved in China in the second quarter, opening it for sale in the world's second largest economy.

Persons: Jakub Porzycki, —, Wegovy, Lars Fruergaard Jørgensen, CNBC's, Roche, Jørgensen Organizations: Novo Nordisk Wegovy, Novo Nordisk, Getty, Nordisk Locations: Krakow, Poland, London, China

Violence broke out in several towns and cities across the country after three young girls were killed in a knife attack at a Taylor Swift-themed dance party in the seaside town of Southport in northwest England last week. Amid false rumors that the suspect was a Muslim asylum seeker, mobs have since attacked hotels housing asylum seekers, as well as mosques, leading to hundreds of arrests. The suspect Axel Rudakubana, 17, was born in the Welsh capital of Cardiff and had lived for years in a village near Southport itself, police saidMusk's remarks were quickly rebuffed by Prime Minister Keir Starmer’s office, which said in a statement that such comments had “no justification.”In a separate video message posted to X, Starmer said: “Whatever the apparent motivation, this is not protest. This month, he said he was pulling his businesses out of California to protest a new state law that bars schools from requiring that trans kids be outed to their parents. The U.K. riots have become one of the first major challenges for Starmer, whose center-left Labour Party took power last month in a landslide election victory, ousting the Conservative Party, who after 14 years in government left office without dispute.

Persons: Taylor Swift, Axel Rudakubana, Musk's, Keir Starmer’s, Starmer, ”, Musk Organizations: Labour Party, Conservative Party Locations: Southport, England, Welsh, Cardiff, Britain, California

☆ Arsenal names Athletic Brewing as official nonalcoholic beer partner
▼ + stars: | 2024-08-06 | by ( Justine Fisher | ) www.cnbc.com time to read: 1 min

Athletic Brewing Company is the official nonalcoholic beer partner of Arsenal F.C. Athletic Brewing Company has scored a partnership with Arsenal, becoming the English soccer team's first official nonalcoholic beer partner. Arsenal will feature Athletic Brewing's Run Wild IPA at Emirates Stadium for both men's and women's matches, and Athletic Brewing will launch a marketing campaign and a series of promotions in return, according to a press release. Run Wild IPA is less than 0.5% alcohol by volume, or ABV. The deal represents an opportunity for America's largest nonalcoholic brewery to expand in the U.K.

Persons: soccer team's Organizations: Athletic Brewing Company, Arsenal F.C, Arsenal, soccer, Emirates, Athletic Brewing

☆ Elon Musk slammed by government after comments on UK riots
▼ + stars: | 2024-08-06 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Elon Musk attends 'Exploring the New Frontiers of Innovation: Mark Read in Conversation with Elon Musk' session during the Cannes Lions International Festival Of Creativity 2024 - Day Three on June 19, 2024 in Cannes, France. LONDON — The U.K. government hit back at Elon Musk after the billionaire made controversial comments about riots — fueled by the far-right and anti-immigration sentiment — taking place across the country. On Sunday, Musk replied to a post about the riots on X, the social media platform he owns, stating: "Civil war is inevitable." Responding to a reporter's question on Monday on whether Starmer agreed with Musk's tweet, the PM's spokesperson said: "There is no justification for comments like that." "What we've seen in this country is organized illegal thuggery which has no place on our streets or online," Starmer's official spokesperson said.

Persons: Elon Musk, Mark Read, Manchester —, Musk, Keir Starmer, Heidi Alexander Organizations: Cannes Lions, LONDON, Elon, Manchester Locations: Cannes, France, —, Liverpool, Britain

☆ European stocks set to rally at the open, shaking off global market panic
▼ + stars: | 2024-08-06 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

LONDON — European stocks are expected to open higher Tuesday, with global markets looking set to rally after widespread volatility on Monday. On Tuesday, the U.K.'s FTSE index is expected to open 53 points higher at 8,049, Germany's DAX up 122 points at 17,436, France's CAC 40 up 48 points at 7,180 and Italy's FTSE MIB 170 points higher at 31,615, according to data from IG. European stocks fell sharply Monday, with the regional Stoxx 600 index plunging 3.5% and tech and bank stocks declining sharply.

Persons: Germany's DAX Organizations: CAC, IG

☆ As riots and disorder spread, some countries warn their citizens not to travel to the UK
▼ + stars: | 2024-08-06 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

Five countries have now issued travel and safety warnings to their citizens living or visiting the U.K. as riots and street disorder continue to plague the country. Unrest continued in parts of the U.K. on Monday night, with Belfast in Northern Ireland seeing further disorder, as well as the northern town of Darlington and Plymouth on the south coast. Since the rioting began a week ago Tuesday, 378 arrests have been made, the National Police Chiefs' Council said Monday. Other instances of disorder have also been seen across the country, from towns including Rotherham and Middlesbrough to larger cities such as Bristol, Leeds and Hull. Tourist hotspot London has not seen any significant disturbances.

Persons: Manchester — Organizations: United, Manchester, National Police Chiefs, Rotherham, Middlesbrough, Hull Locations: United Arab Emirates, Nigeria, Malaysia, Indonesia, Australia, England, Northern Ireland, Liverpool, Belfast, Darlington, Plymouth, Bristol, Leeds, London

☆ Lesbian boxer becomes first Refugee Olympic Team athlete to win a medal
▼ + stars: | 2024-08-05 | by ( The Associated Press | ) www.nbcnews.com time to read: +4 min

VILLEPINTE, France — Boxer Cindy Ngamba made history on Sunday by becoming the first athlete competing as a refugee to clinch an Olympic medal. The 25-year-old originally from Cameroon offered hope for the Refugee Olympic Team that was created to call attention to the plight of refugees across the world. She will face Atheyna Bylon, who ensured that Panama would get its fourth-ever Olympic medal with her own win shortly after Ngamba’s fight. “It means the world to me to be the first ever refugee to win a medal,” Ngamba told reporters. The Refugee Olympic Team has nearly quadrupled in size since its debut.

Persons: Boxer Cindy Ngamba, Davina Michel, Ngamba, Atheyna Bylon, Ngamba’s, ” Ngamba, “, it’s, ”, Tammara, Michel, swipes, ” U.N, Filippo Grandi, Grandi, Lin Yu, Imane, she’s, — Organizations: Refugee Olympic Team, Paris Games, Olympic, North Paris, AP, IOC Locations: VILLEPINTE, France, Cameroon, Panama, Rio de Janeiro, United Kingdom, Canada, North, Paris, Taiwan, Algeria

This came after the Israeli military said it had struck a “terrorist cell operating a drone” in southern Lebanon after “numerous projectiles” were fired at northern Israel. Rockets fired from southern Lebanon are intercepted by Israel's Iron Dome air defence system over the Upper Galilee region in northern Israel. The killing came a day after Shukr, a senior Hezbollah leader died in an Israel airstrike on Lebanon’s capital Beirut. Israel’s military said it struck a Hamas military compound embedded in the schools. It came after an Israeli airstrike hit a tent camp inside a hospital in central Gaza earlier in the day.

Persons: Joe Biden, Jordan, Jalaa Marey, Ismail Haniyeh, Fuad Shukr, Haniyeh, Masoud Pezeshkian, Israel “, ” Israel, Shukr, ”, Menahem Kahana, Burcu Ozcelik, Mahmoud Zayyat Organizations: NBC News, Rockets, Israel's, Getty, Iran’s Foreign Ministry, Israel, Pentagon, Navy, Royal United Services Institute, NBC, Diplomats, Health Locations: Israel, Gaza, United States, Australia, France, Canada, South Korea, Saudi Arabia, Japan, Turkey, Lebanon, Beirut, Galilee, AFP, Iran, Tehran, Golan, Shams, Iraq, Syria, Yemen, U.S, Britain, Haniyeh’s, London, Lebanese, Sidon, Gaza City

This grabbed the attention of U.K.-based French studies professor Martin Hurcombe, who specializes in French history and culture. French fans cheer during the women's cross-country cycling mountain bike event during the Paris Games on July 28. French fans have been wildly cheering for their athletes and team throughout these Olympic Games. Spectators celebrate as France's Leon Marchand wins the gold medal in men's 200-meter individual medley final at the Paris Games. I think it was a moment and there's a risk with these Olympics, as well, that this is (just) a moment."

Persons: “, Jérémy Boutier, France's Leon Marchand, Sarah Stier, Emmanuel Macron, Martin Hurcombe, Jared C, Tilton, Hurcombe, Amélie Oudéa, hasn't, Sameer Al, Léon Marchand, Tom Vanden Brande, Vanden Brande, Yolaine Wilson, it's, Zinedine Zidane, Lilian Thuram, Marcel Desailly, Christian Karembeu, Patrick Vieira, Dar Yasin, We've Organizations: Olympics, NBC News, Paris Games, Getty, University of Bristol, French Sports, Olympic Games, Olympic, Nigeria, Paris La Défense, French, France Locations: France, AFP, Paris, French West Indies, Ghana, New Caledonia, Senegal

LONDON — British Prime Minister Keir Starmer convened an emergency security meeting Monday after far-right riots spread over the weekend, and residents of villages, towns and cities across the country woke up to scenes of buildings set on fire and asylum seeker hotels stormed by angry mobs. Nearly 150 people were arrested over the weekend, U.K.’s National Police Chiefs’ Council said Sunday. False rumors about the suspect quickly spread online, fueling an outburst of violence. On Sunday, two hotels where asylum seekers are believed to be living, were targeted by mobs in what has turned into the worst disorder the U.K. has seen in years. The South Yorkshire police, where Rotherham is, later said its officers were also targeted with glass bottles and beer cans by a crowd of about 700 people.

Persons: Keir Starmer, Jack, “ Organizations: LONDON, National Police Chiefs ’, BBC, Reuters, South, South Yorkshire police Locations: Southport, Rotherham, South Yorkshire

☆ Bank of England to remain cautious on future interest rate cuts, economist says
▼ + stars: | 2024-08-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBank of England to remain cautious on future interest rate cuts, economist saysSonali Punhani, chief U.K. economist at Bank of America Merrill Lynch, weighs in on the Bank of England's recent interest rate cut and the outlook for monetary policy moving forward.

Persons: Sonali Punhani, Bank of America Merrill Lynch Organizations: Email Bank of England, Bank of America, Bank of

☆ Major European markets head for flat to lower open amid global volatility
▼ + stars: | 2024-08-05 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

Stock market numbers are displayed on a screen at the New York Stock Exchange during afternoon trading on August 02, 2024 in New York City. LONDON — European stocks are expected to start the new trading week in flat to negative territory as global volatility continues. The U.K.'s FTSE index is seen opening 3 points higher at 8,165 while Germany's DAX is expected to open 59 points lower at 17,591, France's CAC 40 down 17 points at 7,219 and Italy's FTSE MIB down 139 points at 32,009, according to data from IG. The subdued start for major European markets comes amid wider global volatility; U.S. stock futures fell Sunday night following a turbulent last week for Wall Street, in which the Nasdaq Composite dropped into correction territory. Asia-Pacific markets also continued the selloff overnight.

Persons: Germany's DAX Organizations: New York Stock Exchange, LONDON, CAC, IG, Wall, Nasdaq Locations: New York City, Asia, Pacific

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