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☆ EU sends water bombers to battle Greece wildfires as Rome shatters temperature record
▼ + stars: | 2023-07-19 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

A Canadair CL-415 sprays water during a wildfire in the village of Pournari, near Athens, on July 18, 2023. The European Union sent four Canadair water bombers to help Greece fight wildfires that have been raging for a third day on Wednesday, while authorities warned of another extraordinary heatwave. It comes as scorching heat continues to grip southern Europe, with temperatures in Spain, France and Italy climbing to fresh record highs. Mercury levels in Girona in Spain's Catalonia region hit a record 45 degrees Celsius, while temperatures in Verdun in northeast France reached 40.6 degrees Celsius for the first time. Europe's hottest-ever recorded temperature is believed to have been 48.8 degrees Celsius, logged near the ancient city of Syracuse on the coast of Sicily in August 2021.

Organizations: Canadair CL, European Union, Canadair, Mercury, World Meteorological Organization Locations: Pournari, Athens, Greece, Europe, Spain, France, Italy, Rome, Girona, Spain's Catalonia, Verdun, Syracuse, Sicily

☆ MLB roundup: D-backs best Braves in 29-run game
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +11 min

Emmanuel Rivera homered and Ketel Marte had three hits and three RBIs for Arizona, which snapped a four-game losing streak. The D-backs prevailed in the wild contest despite the efforts of Atlanta's Austin Riley, who homered twice and had a career-high seven RBIs. Arizona tied the game at 13-13 with two outs in the eighth when Dominic Canzone delivered an RBI single for his first career hit. Jonathan India homered and fell just a triple shy of the cycle for the Reds, who lost their fifth straight game. Rockies 4, Astros 3Kris Bryant and Ryan McMahon hit consecutive home runs in the first inning and Colorado beat Houston in Denver.

Persons: Christian Walker, Brett Davis, Geraldo Perdomo, Emmanuel Rivera, Ketel Marte, Miguel Castro, Kevin Ginkel, Atlanta's Austin Riley, Orlando Arcia, Sean Murphy, Dominic Canzone, Perdomo, Raisel Iglesias, Marte, Alex Kirilloff, Bailey Ober, Edouard Julien, Kyle Farmer, Carlos Correa, Eugenio Suarez, Bryan Woo, Wilmer Flores, Flores, Monday's, Barry Bonds, Joey Votto, Jake Fraley, Will Benson, Christian Encarnacion, Strand, Joc Pederson, Pederson, Brett, Michael Conforto, Ian Gibaut, Tyler Rogers, Camilo Doval, Jonathan India, Ryan Noda, JJ Bleday, Luis Medina, Sam Long, Shintaro Fujinami, Sam Moll, Trevor May, Joe Jacques, Noda, Aledmys Diaz, Bleday, Patrick Wisdom's tiebreaking, Seiya Suzuki, Suzuki, Miguel Amaya, Mike Tauchman, Nico Hoerner, Miles Mastrobuoni, Lane Thomas, Corey Dickerson's, Francisco Alvarez, Brett Baty, DJ Stewart, Jeff McNeil, Tommy Pham, Francisco Lindor, Pete Alonso, Yasmani Grandal, Jake Burger, Tim Anderson, Josh Naylor, Josh Bell, Logan Allen, Amed Rosario, Myles Straw, Allen, Connor Joe, Mitch Keller, Kyle Schwarber, Bryson Stott, Schwarber, Julio Teheran's, Aaron Nola, Andruw Monasterio, Brice Turang, Mickey Moniak, Patrick Sandoval, Shohei Ohtani, Domino, Gleyber Torres, Juan Soto, Joe Musgrove, Manny Machado, Gary Sanchez, Trent Grisham, Musgrove, Bo Bichette, Alek Manoah, Jason Heyward, Michael Grove, Will Smith, Freddie Freeman, Aaron Hicks, Tyler Wells, Baltimore's, Nolan Arenado, Brendan Donovan, Louis, Jordan Montgomery, JoJo Romero, Edward Cabrera, Jon Berti, Dairon Blanco, Maikel Garcia, Edward Olivares, Spencer Torkelson, Javier Baez, Marcus Semien, Corey Seager, Nathan Eovaldi, Taj Bradley, Travis Jankowski, Randy Arozarena, Brandon Lowe, Kris Bryant, Ryan McMahon, McMahon, Fernando Abad, Justin Lawrence, Alex Bregman Organizations: Arizona Diamondbacks, Atlanta Braves, USA, Arizona, Mariners, Minnesota, Seattle, Twins, Giants, Reds, Cincinnati, San Francisco, Athletics, Red Sox, Oakland, Boston, Cubs, Nationals, Chicago, Pittsburgh Pirates, Washington, Mets, White Sox, New, Pirates, Cleveland pummeled, Guardians, Phillies, Brewers, Philadelphia, Milwaukee, Yankees, Padres, Blue Jays, Diego, Toronto, Dodgers, Orioles, Los Angeles, Baltimore, Marlins, Cardinals, Royals, Tigers, Kansas City outslugged, Rangers, Rays, Texas, Tampa Bay, Astros, Colorado, Houston, Rockies, Thomson Locations: Atlanta , Georgia, USA, Truist, Arizona, Seattle, Francisco, San Francisco, Medina, Washington, New York, Cleveland pummeled Pittsburgh, Angeles, Anaheim , Calif, Sandoval, St, Miami, Kansas City outslugged Detroit, Arlington , Texas, Semien, Denver

☆ Soaring temperatures in Europe near record as wildfires rage in Greece and Swiss Alps
▼ + stars: | 2023-07-18 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

An unrelenting heatwave stretching across southern Europe is expected to push temperatures close to a record on Tuesday, with emergency workers in Spain, Greece and the Swiss Alps battling to contain wildfires. Italy, Spain and Greece are all forecast to see the mercury shoot above 40 degrees Celsius (104 Fahrenheit) as a second heatwave of the summer engulfs the region. Sardinia and Sicily could see temperatures peak at around 46 degrees Celsius on Tuesday, according to Italian weather news service Meteo.it. Europe's hottest-ever recorded temperature is believed to be 48.8 degrees Celsius, logged near the ancient city of Syracuse on the coast of Sicily in August 2021. The World Meteorological Organization believes this record could be broken in the coming days as the heatwave is expected to intensify.

Organizations: Swiss, World Meteorological Organization, U.S Locations: Athens, Europe, Spain, Greece, Italy, Sardinia, Sicily, Syracuse, China

☆ Italy warns ‘peak of the heat is coming,’ issues red alert for 16 cities as temperatures soar
▼ + stars: | 2023-07-17 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

Meteorologists in Italy on Monday warned that a period of fierce heat is expected to peak in the coming days, shortly after policymakers issued hot weather red alerts for 16 cities nationwide. The capital of Rome, Florence and Bologna are among some of the areas affected by an intense and prolonged heatwave. It comes as temperatures approach record-breaking levels in countries across southern Europe, with forecasters warning the highest level ever recorded in European history could be topped. "The African anticyclone continues to dominate the weather scenario, with a heat wave destined to persist for many more days," Italian weather news service Meteo.it said on Monday. Scientists at the European Space Agency, which monitors land and sea temperatures, believe the record could be broken again in the coming days.

Persons: wets, Meteo.it Organizations: Monday, European Space Agency Locations: Piazza Duomo, Catania, Italy, Rome, Florence, Bologna, Europe, Syracuse, Sicily

☆ Wheat prices surge after Russia axes grain deal. And it's not good news for the world's food supply
▼ + stars: | 2023-07-17 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Farmers use harvesting vehicles to harvest grain in Stavropol Krai, one of Russia's most important agricultural lands is seen in Stavropol, Russia on July 16, 2023. Hours before the agreement's expiry, Russia said Monday that it would not renew the Black Sea Grain Initiative. The Black Sea Grain Initiative has been repeatedly elongated in short increments, amid increasing discontent from Russia over perceived restrictions that limit the full dispatch of its own grain and fertilizer exports. Wheat prices remain well below the peak levels of 1177.5 cents per bushel reached in May last year, however. Corn futures soared to a high of 526.5 cents per bushel, while soybean futures surged to a high of 1,388.75 cents per bushel.

Persons: Dmitry Peskov, Vladimir Putin, Cyril Ramaphosa Organizations: United Nations, Initiative, South Locations: Stavropol Krai, Stavropol, Russia, Turkey, Ukraine, Russian

☆ Australia expects unemployment rate to rise as global economy slows
▼ + stars: | 2023-07-16 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, July 16 (Reuters) - Australian Treasurer Jim Chalmers said on Sunday that he expected the nation's jobless rate to lift from near a 48-year low on the back of higher interest rates and slowing global growth. The Reserve Bank of Australia (RBA) has said the jobless rate would need to rise to about 4.5% - still well below pre-pandemic levels - to bring the economy back into balance. Unemployment was expected to lift "a bit as the economy slows as a consequence of higher interest rates and global economic uncertainty", Chalmers said ahead of attending a meeting of Group of 20 (G20) finance ministers and central bankers in India with outgoing RBA Governor Philip Lowe. The RBA this month kept the cash rate at an 11-year high of 4.10%, having lifted rates by 400 basis points since May last year, but warned that further tightening might be needed. Reporting by Sam McKeith in Sydney; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Jim Chalmers, Chalmers, Philip Lowe, Sam McKeith, Jamie Freed Organizations: SYDNEY, Bank, Treasury, Australian Broadcasting Corp, Reserve Bank of Australia, Australian Bureau, Statistics, Thomson Locations: India, Sydney

☆ Australia upbeat on global tax talks at G20 in India
▼ + stars: | 2023-07-15 | by ( ) www.reuters.com time to read: +2 min

[1/2] Workers work to install a hoarding board near the venue of G20 Finance Ministers and Central Bank Governors meeting at Gandhinagar in Gujarat, India July 13, 2023. REUTERS/Amit DaveSYDNEY, July 15 (Reuters) - Australian Treasurer Jim Chalmers expressed optimism on Saturday about progress on a long-awaited overhaul of global corporate taxation at a meeting of Group of 20 (G20) nations in India. More than 140 countries were supposed to start implementing next year a 2021 deal overhauling decades-old rules on how governments tax multinational corporations. The rules are widely considered outdated as digital giants like Apple or Amazon can book profits in low-tax countries. The second pillar calls on governments to end competition on tax rates between governments to attract investment, by setting a global minimum corporate tax rate of 15% from next year.

Persons: Amit Dave SYDNEY, Jim Chalmers, Chalmers, Philip Lowe, Sam McKeith, William Mallard Organizations: Ministers, Central Bank Governors, REUTERS, ABC, Reserve Bank of Australia, Thomson Locations: Gandhinagar, Gujarat, India, Sydney

☆ Nobel Prize-winning economist says there’s no need for the Fed to keep hiking interest rates
▼ + stars: | 2023-07-14 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

watch nowNobel Prize-winning economist Christopher Pissarides believes there's no need for the Federal Reserve to keep raising interest rates in the coming months, saying policymakers at the U.S. central bank should instead look to take a breather in the battle against inflation. His comments come shortly after data on Wednesday showed U.S. inflation fell sharply to a two-year low of 3% in June. The reading appeared to underscore the Fed's relative success in containing price rises following a rapid increase in interest rates. "I don't expect anything to happen to make them want to increase interest rates more, but I would definitely wait this time," he added. Federal Reserve Board Chairman Jerome Powell speaks during a news conference following the Federal Open Market Committee meeting, at the Federal Reserve in Washington, DC, on June 14, 2023.

Persons: Christopher Pissarides, CNBC's, Pissarides, Jerome Powell, Mandel Ngan Organizations: Federal Reserve, U.S, Wednesday, Fed, London School of Economics, Economic Sciences, AFP, Getty Locations: Washington ,, Europe, States

☆ 'Under no circumstances': John Kerry rules out U.S. paying climate reparations to low-income countries
▼ + stars: | 2023-07-14 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

U.S. climate envoy John Kerry ruled out paying into a global fund to help poorer nations stricken by the devastating impacts of the climate emergency, saying that "under no circumstances" would the White House consider delivering on reparations. It comes at a time when countries acutely vulnerable to climate-fueled disasters are pushing for wealthy nations — that have the greatest historic responsibility for the climate crisis — to pay for past greenhouse gas emissions. It remains unclear, however, exactly how much richer countries will pay into the fund. Climate reparations is a highly divisive and emotive issue that is seen as a fundamental question of climate justice. Asked during a hearing before a House of Representatives foreign affairs oversight subcommittee on Thursday whether he intended for the U.S. to pay climate reparations, Kerry replied, "No, under no circumstances."

Persons: John Kerry, Kerry, Brian Mast

☆ IEA trims oil demand forecast for the first time this year on 'persistent' economic headwinds
▼ + stars: | 2023-07-13 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Two large oil tankers unload at the 300,000-ton crude oil terminal in Yantai Port, Shandong Province, China, July 9, 2023. The International Energy Agency on Thursday cut its global oil demand growth forecast for the first time this year, primarily citing a worsening economic outlook that weighs "especially heavy" on wealthy countries. The world's leading energy watchdog said global oil demand is now on track to climb by 2.2 million barrels per day in 2023 to reach an average of 102.1 million barrels per day. China is set to account for 70% of the demand growth increase, the IEA said. This forecast nevertheless represents a downward revision of 220,000 barrels per day from last month's report, when the IEA predicted an increase of 2.4 million barrels per day of worldwide growth.

Organizations: International Energy Agency, IEA, Federal, Brent, U.S, West Texas Locations: Yantai Port, Shandong Province, China, London

☆ Europe sizzles as a heatwave sweeps the continent, pushing temperatures close to record levels
▼ + stars: | 2023-07-13 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

The record for the highest temperature in European history was broken in August 2021, when 48.8C was registered in Floridia, a town in Italy's Sicilian province of Syracuse. In Italy, meanwhile, temperatures could soon reach as high as 48 degrees Celsius on the islands of Sardinia and Sicily. Scientists at the European Space Agency said that record could be broken again in the coming days. The Italian Meteorological Society (SMI), meanwhile, told CNBC that it was not yet possible to forecast whether Europe's temperature record would soon be equaled or surpassed. Researchers say global heating is strongly increasing the odds of heatwaves such as the one currently sizzling in countries across Europe.

Persons: 48.8C Organizations: European Space Agency, Italian Meteorological Society, CNBC Locations: Tempio Pausania, Sardinia, Italy, Floridia, Italy's Sicilian, Syracuse, Europe, Spain, France, Greece, Croatia, Turkey, Sicily, Rome, Florence, Bologna

☆ Bank of England warns of mortgage agony, says monthly costs could jump £500 for some
▼ + stars: | 2023-07-12 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

The Bank of England warned already struggling homeowners could see monthly mortgage repayments rise sharply in the coming months, but stressed households today are not nearly as indebted as they were in the run-up to the global financial crisis. U.K. households are currently being impacted by a cost-of-living crisis and higher interest rates as their fixed-rate mortgage deals expire. Almost 1 million people, meanwhile, were projected to see their monthly mortgage costs jump by more than £500 over the same timeframe. The central bank's report comes shortly after the U.K.'s average 2-year fixed mortgage rate rose to its highest level since 2008, deepening fears of an impending "mortgage catastrophe." This key mortgage rate came in at 6.66% on Tuesday, notching its highest level for 15 years.

Persons: BOE Organizations: Bank of England Locations: Ruskin Park, Lambeth, London, England

at the 2023 NATO Summit seen next to the Main Media Center, in Vilnius, Lithuania, in Vilnius, Lithuania, on July 12, 2023. "We will stand with Ukraine as it defends itself against Russian aggression, for as long as it takes." The G7 said it would also seek to bolster Ukraine's economic stability, including through recovery efforts, "to create the conditions conducive to promoting Ukraine's economic prosperity." The countries vowed to provide technical and financial support for Ukraine's immediate needs as a result of Russia's full-scale invasion. Moscow sharply criticized the G7's security pledges to Ukraine.

Persons: Dmitry Peskov, Putin, Rishi Sunak Organizations: Summit, Main Media Center, UN, Ukrainian, Kremlin, Google, London, NATO Locations: Ukraine, Vilnius, Lithuania, Moscow, Russia, Europe

☆ Mortgage rates in Britain hit 15-year high — with many fearful there's more misery to come
▼ + stars: | 2023-07-11 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

It means mortgage costs are now at their highest level since August 2008 during the global financial crisis. The average 5-year mortgage rate rose to 6.17% on Tuesday, Moneyfacts said, a marginal increase from Monday but still some way off the 6.51% level reached on Oct. 20. U.K. mortgage costs, which had staged a recovery in the months following the "mini-budget" crisis, have soared recently following 13 consecutive rate hikes by the Bank of England. Most recently, the central bank increased rates by 50 basis points to 5%, a bigger increase than many had expected. Renters, too, are likely to see their payments increase as buy-to-let landlords pass on higher mortgage repayments.

Persons: Kwasi, Moneyfacts, Andrew Bailey Organizations: Financial, Authority, London Borough, Finance, Bank of England Locations: Enfield, England, London

Thai Prime Minister Prayuth Chan-ocha speaks with members of the press after casting his vote in the Thai General Election on May 14, 2023 in Bangkok, Thailand. Thai Prime Minister Prayuth Chan-ocha on Tuesday said he will retire from politics, nine years after the former general seized power in a military coup. His announcement comes ahead of a much-anticipated vote for Thailand's new prime minister this Thursday. Chan-ocha said he would stay in a caretaker role until a new prime minister is elected. This backing nevertheless falls short of the 376 votes that party leader Pita Limjaroenrat to stake his claim as Thailand's next prime minister.

Persons: Prayuth Chan, Chan, ocha, Pita Limjaroenrat, Limjaroenrat Organizations: Thai, United Thai Nation, Thai Sang Chart Party, Facebook Locations: Thai, Bangkok, Thailand

☆ Dutch PM Mark Rutte says he won't run for fifth term after government collapses
▼ + stars: | 2023-07-10 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

Mark Rutte said he will not run for a fifth term as the Dutch prime minister. Dutch Prime Minister Mark Rutte announced on Monday that he won't run for a fifth term in office after handing in the resignation of his cabinet Friday, bringing an end to the country's fragile four-party coalition government. The only answer is the Netherlands," Rutte said in a speech in parliament, according to Reuters. Rutte's announcement comes shortly after he last week said that his four-party coalition government had collapsed over "irreconcilable" differences on immigration policy. The prime minister and his government will remain in post until a new ruling government is chosen.

Persons: Mark Rutte, there's, Rutte Organizations: People's Party for Freedom and Democracy, Reuters, Rutte's VVD, Christian Democratic Appeal, Christian Union Locations: Netherlands, The Hague

☆ Australia PM's Germany, NATO trip to focus on trade, security
▼ + stars: | 2023-07-09 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, July 9 (Reuters) - Trade and security will be priorities for Australian Prime Minister Anthony Albanese on a trip this week to meet German Chancellor Olaf Scholz and attend a NATO summit in Lithuania, Albanese's office said. Australia is not a member of NATO but has a decades-long relationship with the Western alliance and attended last year's summit in Madrid as a non-member participant. "Alongside our NATO allies, Australia continues to demonstrate our unwavering support for Ukraine, and our condemnation of Russia’s illegal and immoral invasion," Albanese said in the statement. Last month, Australia promised a new A$110 million ($74 million) package to Ukraine, including 70 military vehicles to defend against Russia's invasion, taking Australia's total contribution for Ukraine to A$790 million ($530 million). Also this week, Australian Trade Minister Don Farrell will travel to Brussels, seeking to advance stalled talks for a free trade agreement between Australia and the EU.

Persons: Anthony Albanese, Olaf Scholz, Scholz, " Albanese, Don Farrell, Valdis, Janusz Wojciechowski, Farrell, Sam McKeith, William Mallard Organizations: SYDNEY, Australian, NATO, Labor, Atlantic, Organization, Ukraine, Australian Trade, EU, European Union, Reuters, Trade, Agriculture, Thomson Locations: Lithuania, Australia, Germany, Lithuanian, Vilnius, Madrid, Russia, Ukraine, Brussels, Sydney

☆ 'We are in uncharted territory': World records hottest day ever for the third time in just four days
▼ + stars: | 2023-07-07 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Unofficial data from U.S. researchers showed the planet's daily average temperature soared to 17.23 degrees Celsius (63.01 degrees Fahrenheit) on Thursday, surpassing two previous heat records registered in recent days. "The global temperature record smashed again yesterday," Bill McGuire, professor emeritus of geophysical and climate hazards at University College London, said via Twitter. The record was broken again on Tuesday, notching 17.18 degrees Celsius and remained at this record high level on Wednesday. climate researcher Leon Simons said via Twitter, citing the multiple heat records observed this week. A flurry of global heat records follows a series of mind-bending extreme weather events in recent months.

Persons: Yasin Demirci, El Niño, Bill McGuire, Leon Simons Organizations: Anadolu Agency, Getty, University College London, Twitter, University, Maine's Locations: Sarajevo, Bosnia, Herzegovina, U.S, Ankara, Turkiye

☆ Ukraine war live updates: Zelenskyy calls for ‘concrete’ steps on NATO bid; death toll in Lviv attack rises to 10
▼ + stars: | 2023-07-07 | by ( Sam Meredith | ) www.cnbc.com time to read: 1 min

Ukrainian President Volodymyr Zelenskyy called for a clear signal from NATO that Kyiv will be able to join the military alliance when the war ends, saying the 30-member group's open door policy is not enough. His comments come ahead of a two-day summit of NATO leaders in Vilnius, Lithuania next week. Elsewhere, the death toll from a Russian missile strike on Ukraine's western city of Lviv rose to 10, according to the city's mayor. Emergency workers were said to be working to free the deceased from the rubble of an apartment building, following an attack far from the front line of the war.

Persons: Volodymyr Zelenskyy Organizations: NATO Locations: NATO, Vilnius, Lithuania, Russian, Lviv

☆ ‘Life is like it is’: TotalEnergies CEO defends strategy despite calls to cut fossil fuel production
▼ + stars: | 2023-07-06 | by ( Sam Meredith | ) www.cnbc.com time to read: +5 min

"Today, our society requires oil and gas … Why we are together, it is 80% of fossil fuels. The question is not fossil fuels, it is emissions, to lower the emissions." TotalEnergies CEO Patrick Pouyanne said the company had allocated nearly one-third of its capital expenditure to low-carbon technologies, with the remainder spent on oil and gas. Picture Alliance | Picture Alliance | Getty ImagesThe burning of fossil fuels, such as oil and gas, is the chief driver of the climate emergency. I know the scientists told us you should forget [fossil fuels] — but life is like it is.

Persons: TotalEnergies, CNBC's Dan Murphy, Patrick Pouyanne, Pouyanne, Antonio Guterres, That's Organizations: Getty, BP, Shell, TotalEnergies, Dutch, Protesters, Salle, Bloomberg Locations: Vienna, Austria, Ukraine, Paris

☆ World registers hottest day since records began — with fresh highs expected in the coming weeks
▼ + stars: | 2023-07-05 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Beijing recorded its third consecutive day of 40 degree Celsius weather, the first time since records began. The world's average temperature climbed to its highest level since records began on Tuesday, according to provisional data from U.S. researchers, underscoring the pressing need to slash greenhouse gas emissions fueling the climate emergency. The milestone comes just one day after global average temperatures topped 17 degrees Celsius for the first time in 44 years, when the data was first collected. The previous record of 16.92 degrees Celsius had stood since Aug. 14, 2016 — the warmest year ever recorded. "Do you remember yesterday's global surface air temperature record?

Persons: Bill McGuire, Leon Simons Organizations: Forbidden, University of Maine's, University College London, Twitter Locations: Beijing, U.S, China, Mexico

☆ Britain is now the only major economy where inflation is still rising
▼ + stars: | 2023-07-04 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

It comes as many major central banks start to consider bringing their aggressive interest rate hikes to an end as prices cool, even as inflation remains elevated. The move, which exacerbated fears of a mortgage catastrophe, marked a divergence from other major central banks that have been able to either slow or pause interest rate hikes. Year-on-year inflation, as measured by the consumer price index, slowed markedly to 6.5% in May, down from 7.4% in April. Core inflation, which excludes volatile food and food prices, declined at a much slower rate across 33 OECD countries, however, continuing a recent trend. Energy inflation, meanwhile, was found to have plunged to -5.1% in May when compared to the previous year, from 0.7% in April.

Organizations: OECD, LONDON, Organization for Economic Cooperation, Development, U.S ., Bank of England, Energy Locations: Paris, U.S, U.S . Canada, France, Germany, Italy, Japan, Britain, Netherlands, Norway, Costa Rica, Greece, Denmark, Hungary, Turkey

☆ El Niño has officially begun. UN says phenomenon likely to threaten lives, break temperature records
▼ + stars: | 2023-07-04 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

Japan experienced its warmest spring on record this year, the national weather agency said June 1, as greenhouse gasses and El Niño combine to send temperatures soaring worldwide. El Niño has arrived. The U.N. weather agency on Tuesday declared the onset of the major climate phenomenon, warning its return paves the way for a likely spike in global temperatures and extreme weather conditions. "Early warnings and anticipatory action of extreme weather events associated with this major climate phenomenon are vital to save lives and livelihoods." The update follows a report from the National Oceanic and Atmospheric Administration in early June, which said El Niño conditions were present and "expected to gradually strengthen into the Northern Hemisphere winter."

Persons: Niño, El, Petteri Taalas Organizations: World Meteorological Organization, El, WMO, National Oceanic, Atmospheric Administration Locations: Japan, El

☆ Eugene Amo-Dadzie only started sprinting seriously in his mid-20s. Now ‘the world’s fastest accountant’ is taking track and field by storm
▼ + stars: | 2023-07-03 | by ( George Ramsay | ) edition.cnn.com time to read: +5 min

CNN —Eugene Amo-Dadzie leads what appears to be an ordinary life: he’s a husband, a father, and works nine-to-five as a chartered accountant in London. The sprinter’s career trajectory is unlike any of his rivals’ on the track and field circuit. He only started training seriously at the age of 26 and still balances athletics with his regular job as an accountant. A promising sprinter throughout school, Amo-Dadzie had lowered his 100m time to 11.3 seconds by the age of 17. “It is a difficult balance – I’m a husband, I’m a father, I’m also a governor of a primary school.

Persons: CNN — Eugene Amo, he’s, Dadzie, ’, ”, Amanda Davies, Dan Mullan, “, I’d, Steve Fudge, Sam Mellish, I’ve, Reece Prescod, Jeremiah Azu, Alex Livesey, I’m, Zharnel Hughes Organizations: CNN, European, British, Getty Locations: London, Istanbul, Turkey, Austria, Budapest, Paris, Amo, Great Britain, New York

☆ Australian home prices climb for fourth month in June
▼ + stars: | 2023-07-02 | by ( ) www.reuters.com time to read: +2 min

REUTERS/David Gray/File PhotoSYDNEY, July 3 (Reuters) - Australian home prices rose for a fourth consecutive month in June as a sustained squeeze on housing supply helped lift values nationwide, data showed on Monday. Property consultant CoreLogic figures showed national home prices were up 1.1% in June from the previous month, after bottoming in February and starting a sustained rise. Every state and territory capital except Tasmania's Hobart recorded higher prices for dwellings, according to CoreLogic. "A slowdown in the pace of capital gains could be a reflection of a change in sentiment as interest rate expectations revise higher," Lawless said. "Higher interest rates and lower sentiment will likely weigh on the number of active home buyers, helping to rebalance the disconnect between demand and supply."

Persons: David Gray, Tasmania's Hobart, CoreLogic's Tim Lawless, Lawless, Sam McKeith, William Mallard Organizations: REUTERS, ., Reserve Bank of Australia, Thomson Locations: Sydney, Clovelly, Australia, Tasmania's, CoreLogic, New South Wales, Brisbane, Queensland

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