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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe'll probably see more split votes from the Bank of England: EconomistDavid Owen, founder and chief economist at Saltmarsh Economics, says the Bank of England will "have to move very, very cautiously."
Persons: David Owen Organizations: Bank of England, Saltmarsh
Far-right demonstrators chanted anti-migrant, anti-Muslim slogans at the London rally that turned violent on Wednesday. He added that, while the algorithm played a part, there was also a “huge amount of organizing happening” in a variety of different places that are not algorithmically oriented – for example in far-right groups on the instant-messaging platform Telegram. Like what was being shared on X and other platforms, the Telegram group “Southport Wake Up,” also posted false information about the alleged suspect. Hours after the attack, the group’s creator sent out the details for the first protest: Meet near a Southport mosque on Tuesday. The “Southport Wake Up” group is still active, and on Thursday, posted calls for similar disruptions at Muslim centers in other cities across England.
Persons: Bebe King, Elsie Dot Stancombe, Alice Dasilva Aguiar, Keir Starmer, Benjamin Cremel, Neil Holyoak, Axel Rudakubana, Tim Squirrell, , who’s, , Squirrell, , ” Squirrell, Starmer, Downing, ” CNN’s Jessie Gretener, Duarte Mendonça, Ivana Kottasová, Radina Gigova Organizations: CNN, England, , city’s Metropolitan Police, London, Getty Images Met, Southport stabbings, Institute for Strategic, Communications, Intelligence Service, Telegram, Southport, Southport Wake Locations: Southport, London , Manchester, Hartlepool, Downing, Manchester, London, AFP, Banks , Lancashire, Cardiff , Wales, England
When I returned to France at 26, I enrolled in a yearlong boatbuilding course. I enrolled in a yearlong boatbuilding course, which was free because the government subsidized it. AdvertisementI'm very happy in my career and can see myself progressing, especially in the job I'm in now. I'm more suited to my trade job than a corporate settingNone of my close friends do a trade job. I don't tend to compare myself to others, but I think I'm just as happy and fulfilled as my friends.
Persons: , Clémentine Mollier, I'd, I've, I'm Organizations: Service, Business, , Portsmouth, National Museum of, Royal Navy, HMS Locations: Portsmouth, England, France, Australia, Asia, Canada, Costa Rica
LONDON — European markets are set to open mixed on Thursday as investors process a raft of central bank action. The Bank of England announces its latest monetary policy decision at midday London time. Market pricing slightly favors a 25 basis point interest rate cut from the U.K. central bank, kicking off its path of monetary easing. Investors are still processing Wednesday's surprise move from the Bank of Japan, which raised its benchmark interest rate to around 0.25%, its highest level since 2008, and hinted at more tightening to come. The decision powered the yen to a four-and-a-half month high against the U.S. dollar, as Japanese stocks tumbled.
Persons: Germany's DAX, Jerome Powell, Powell Organizations: CAC, Bank of England, U.S, Bank of Japan, U.S . Locations: U.S . Federal,
Markets have been fully pricing in a 25 basis points of rate cut in September for some time and added to wagers of the Fed going big even after Powell said policymakers are not thinking about a 50-basis-point interest rate cut "right now." Goldman Sachs strategists said Powell comments suggest the bar is not very high for a rate cut in September. The dollar index , which measures the U.S. currency against six peers, was little changed at 104.02, having dropped 0.38% on Wednesday. But the BOJ seem keen to get interest rates up and normalize policy. It probably leads to more yen strength, but it could weigh on the local economy and equity markets."
Persons: Jerome Powell, Powell, Goldman Sachs, Kazuo Ueda, Ben Bennett Organizations: U.S, Federal Reserve, Bank of Japan, The U.S, Fed, Traders, Reuters, Bank of England, Legal, General Investment Management Locations: The, Japan, Asia, Pacific
In an unusual move, a British court on Thursday named the 17-year-old suspect in a stabbing rampage that left three children dead and eight injured in northwestern England early this week. The suspect, Axel Muganwa Rudakubana, appeared in a court in Liverpool to face three counts of murder, 10 counts of attempted murder, and possession of a bladed article. Although the police said repeatedly that the suspect had been born in Cardiff, Wales, misinformation spread rapidly on social media claiming that he was an undocumented immigrant. The proliferation of those erroneous reports persuaded the judge, Andrew Menary, to lift the typical restrictions on the news media’s ability to report the identity of an underage suspect. “Continuing to prevent the full reporting has the disadvantage of allowing others to spread misinformation, in a vacuum,” Judge Menary said, according to the Press Association.
Persons: Axel Muganwa Rudakubana, Taylor Swift, Andrew Menary, Rudakubana, Judge Menary Organizations: Press Association Locations: England, Liverpool, Southport, Cardiff , Wales
On a fine, bright morning last Friday, just like so many other fine, bright mornings, Gary Pickles took a walk. Mr. Pickles, a ranger who works at Northumberland National Park in England, just south of the Scottish border, was inspecting a route that wends past Hadrian’s Wall, constructed by the Roman Army in the second century A.D. He walked past the cleft where the Sycamore Gap tree had famously jutted out into the landscape before it was illegally cut down last year, and he bent down to its stump. Astonishingly, improbably, there were eight shoots where the tree once stood. “It was like when you see an old friend,” Mr. Pickles, 54, said.
Persons: Gary Pickles, Pickles, ” Mr, Organizations: Roman Army Locations: Northumberland, England, Scottish
U.S. Treasury yields slid further on Thursday as investors digested comments from Federal Reserve Chairman Jerome Powell, who suggested a September rate cut was on the table. Yields had fallen on Wednesday after Fed Chairman Powell hinted at a September rate cut after the central bank's July meeting concluded. Depending on these factors, "a reduction in our policy rate could be on the table as soon as the next meeting in September," he said. As expected, the central bank left interest rates unchanged. Several analysts are expecting the central bank to cut rates, but uncertainty remains as the BOE has not sent clear signals.
Persons: Jerome Powell, Powell, BOE Organizations: Treasury, U.S, Federal, Bank of England Locations: U.S
The Shell logo is displayed outside a petrol station in Radstock in Somerset, England, on Feb. 17, 2024. British oil giant Shell on Thursday posted stronger-than-expected second-quarter profit despite lower refining margins and weaker liquified natural gas trading. The company reported adjusted earnings of $7.7 billion in the first quarter of 2024. Shell said it would launch a $3.5 billion share buyback program over the next three months, a similar scheme as in the previous quarter. British rival BP on Tuesday increased its dividend and extended its share repurchasing program on the back of stronger-than-expected earnings.
Persons: LSEG, Shell's, Shell, Wael Sawan, CNBC's, Sawan, Chandra Asri Organizations: Shell, Chandra, BP, Exxon Mobil, Chevron Locations: Radstock, Somerset, England, Singapore, Rotterdam, Netherlands, Swiss, London
The U.K. stock market is likely to rise over the course of 12 months, if the Bank of England cuts interest rates on Thursday and history repeats itself, according to a CNBC Pro analysis. Economists say the forecasts for whether the U.K. central bank will either reduce or hold rates are a close call. A decision to lower interest rates — which sit at at 5.25% currently — would mark the first time monetary police has been eased in Britain since the hiking cycle began in December 2021. The analysis found that, on three occasions the index had risen more than 20% on average within a year after an interest rate cut. For instance, the domestically focused index of 250 stocks rose by 17% across three months after the Bank of England cut rates in 1998.
Persons: Agne Stengeryte, BoE, Nora Szentivanyi Organizations: Bank of England, CNBC, CNBC Pro, Bank of, Bank, America's, Barclays Locations: Britain, Bank of England
The Bank of England decided, by a slim margin among its policymakers, to cut interest rates on Thursday for the first time in more than four years amid slower inflation. Britain’s central bank lowered rates by a quarter of a percentage point to 5 percent, the first rate cut since March 2020, when the coronavirus pandemic shut down large parts of the economy. The rate cut brings an end to the most aggressive efforts of the central bank to stamp out high inflation, which reached double-digits less than two years ago. For the past year, interest rates were held at 5.25 percent, the highest level since 2008. But policymakers warned that interest rates would be lowered slowly, which would keep the policy stance restrictive for awhile.
Organizations: of England
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBank of England is not changing the message on inflation, governor saysBOE Governor Andrew Bailey speaks to CNBC's Steve Sedgwick following the central bank's decision to cut rates.
Persons: BOE, Andrew Bailey, Steve Sedgwick Organizations: Email Bank of England
CNN —A teenage boy has been charged with murder after three young girls were killed in a stabbing attack at a dance class in northwest England on Monday, British police said. Eight other children suffered stab wounds in the attack and five of them are in critical condition, police said. Two adults also remain in critical condition after being injured in the attack. Police said five people have been arrested so far in connection with the violence in Southport, in which more than 50 police officers were injured. “Our work to identify all those responsible for the despicable violence and aggression seen on the streets of Southport on Tuesday continues,” Assistant Chief Constable Alex Goss said in a statement.
Persons: Bebe King, Elsie Dot Stancombe, Alice Dasilva Aguiar, Taylor Swift, Constable Serena Kennedy, Cheshire Sarah Hammond, ” Hammond, , Constable Alex Goss, Keir Starmer, Organizations: CNN, Merseyside Police, ” Police, Liverpool Magistrates ’, , Lancashire Police, North, ” Merseyside Police, CPS Mersey, Southport, Police Locations: England, Southport, Banks, Cheshire, British
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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBank of England governor likely made 'deciding call' on rate decision, economist saysKallum Pickering, chief economist at Peel Hunt, comments on the Bank of England's decision to cut interest rates.
Persons: Kallum Pickering, Peel Hunt Organizations: Email Bank of England, Peel, Bank of
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBank of England rate decision 'going to be close,' Goldman Sachs saysJari Stehn, chief European economist at Goldman Sachs, says the Bank of England's monetary policy decision is "going to be close" but suggests that a rate cut may win out.
Persons: Goldman Sachs, Jari Stehn Organizations: Email Bank of, Bank
Blurred buses pass the Bank of England in the City of London on 7th February 2024 in London, United Kingdom. LONDON — Several analysts expect the Bank of England to announce an interest rate cut on Thursday, but a lack of clear signaling from the central bank has shrouded the decision in uncertainty. The Bank Rate has been held at a 16-year high of 5.25% since August 2023. The decision will be announced at midday U.K. time and will be followed by a press conference. Thursday will also see the release of the quarterly Monetary Policy Report, which will contain economic growth and inflation projections.
Persons: BOE Organizations: Bank of England Locations: City of London, London, United Kingdom
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBank of England likely to give a 'tentative' rate cut, StanChart strategist saysSteven Englander, head of Global G10 FX research and North America macro strategy at Standard Chartered Bank, discusses central bank news this week.
Persons: Steven Englander Organizations: Email Bank of, Global, Standard Chartered Bank Locations: Email Bank of England, North America
Among those headed back to Russia are convicted hackers and several Russian nationals detained in the West for spying. And the biggest prize for Russia was the return of Vadim Krasikov, a convicted hitman whose release had been publicly sought by Russian President Vladimir Putin. Anna Chapman, one of 10 Russian sleeper agents deported from the US in a 2010 prisoner swap, was also feted on her return to Russia. Britain blamed the poisoning on Russia; Russia has consistently denied involvement, although Putin referred to Skripal as a “scumbag” and a “traitor,” his contempt suggesting that Skripal had gotten his just desserts. The release of Russians in the swap means that Russia’s political climate is no less repressive.
Persons: Evan Gershkovich, Paul Whelan, Alsu Kurmasheva, Vladimir Kara, John le, Vadim Krasikov, Vladimir Putin, Krasikov, Zelimkhan, Tucker Carlson, Putin, Khangoshvili, ” Krasikov, Viktor Bout, Brittney, US Department of Justice –, Bout, Anna Chapman, Chapman, , Sergei Skripal, Skripal, Yulia, Novichok, Frank Augstein, Alexander Litvinenko, Litvinenko, Andrei Lugovoi, Dmitri Kovtun –, Lugovoi, Alexey Navalny, Navalny, Roman Abramovich, Hillary Clinton, Murza –, , Alexandra Skochilenko Organizations: CNN, Wall Street, Russia, Berlin Police, US Department of Justice, Hollywood, St ., Economic, Russian, Kremlin, European, of Human Rights Locations: American, Ukraine, Russia, Chechen, Berlin, Russian, St, St . Petersburg, United Kingdom, English, Salisbury, Britain, England, British, Moscow, Washington, United States
Grass Valley, California, was one of those places for me. AdvertisementWhile Martin debated pros and cons, I quickly mapped Sacramento to Grass Valley — it was 56 miles. On a scouting trip, he agreed that Grass Valley seemed like a great place. But once we finally lived in the Northern California town, we realized we may have been better off just visiting. I lived in Grass Valley for two and a half years, and three years after moving away, I'm only in touch with a few people.
Persons: , I've, Martin, he'd, Patty Thomas, we'd, Califonia Organizations: Service, Business, San, California . San Francisco Chronicle, Hearst Newspapers, Getty, Gold Rush Locations: , California, San Francisco, Missoula , Montana, Sacramento, Grass, Northern California, San Bernardino, Lake Arrowhead, Missoula, Berkley, Lake Tahoe, it's, Grass Valley, California, Nevada, Southern California, New England
The Edinburgh of the Seven Seas settlement is considered the most remote settlement in the world. The settlement, which is on the island of Tristan da Cunha, is home to around 230 people. AdvertisementResidents of Edinburgh of the Seven Seas, one of the British Overseas Territories on the island of Tristan da Cunha, call their home "the world's most isolated settlement." Tristan da Cunha is an active volcanic island in the middle of the South Atlantic Ocean. The last time it erupted was in 1961, which forced islanders to evacuate to England, according to the website of the Tristan da Cunha Government and the Tristan da Cunha Association.
Persons: Tristan da Cunha, Organizations: Service, British Overseas Territories, Tristan da Cunha Government, Tristan da Cunha Association, Business Locations: Edinburgh, Cape Town , South Africa, England
Riot police armed with shields and batons attempt to restore order in Southport, England on July 30, 2024. The North West Ambulance Service said it treated 39 police officers injured in the violence, 27 of whom were taken to hospital. Christopher Furlong/Getty ImagesPolice have said the suspect is from the village of Banks, near Southport, and was originally from Cardiff, Wales. More must be done to tackle Islamophobia and offer reassurance at this time.”On Tuesday, police named the three girls killed in the stabbing as Bebe King, 6, Elsie Dot Stancombe, 7, and Alice Dasilva Aguiar, 9. Taylor Swift, whose music was the theme of the dance class targeted in the attack, said Tuesday she was “completely in shock.”
Persons: Keir Starmer, thuggery, , , ” Starmer, Taylor Swift, Constable Alex Goss, ” Goss, Christopher Furlong, Goss, Bebe King, Elsie Dot Stancombe, Alice Dasilva Aguiar, King, Bebe, Starmer Organizations: CNN, British, Protesters, English Defence League, Merseyside Police, Police, Riot, Getty, ” Merseyside Police, North West Ambulance Service, Muslim, of Britain, MCB, Locations: Southport, Southport , England, Banks, Cardiff, Wales
Market pricing on Wednesday morning suggested a 60% probability of a rate cut at the BOE's Aug. 1 meeting. That is far less conviction than traders had before the European Central Bank enacted its own rate cut at the start of June; while pricing for the U.S. Federal Reserve to cut for the first time in this cycle in September has hit 100%. watch nowIn both May and June, seven MPC members voted to hold, as two voted to cut by 25 basis points. Headline U.K. inflation spiked higher than in the U.S. and euro zone over the last two years, but has also cooled more quickly. "I would rather hold rates until there is more certainty that underlying inflationary pressures have subsided sustainably," Haskel said.
Persons: Mike Kemp, BOE, Jonathan Haskel —, , Haskel Organizations: of England, Bank of England's, European Central Bank, U.S . Federal Reserve, MPC Locations: City of London, U.S, BOE, U.K
A school in England broke the law for using facial recognition technology for lunch payments. The UK's data protection regulator reprimanded the school for not assessing the risks to the students' information. An internet law professor has warned of issues surrounding bias and the onward use of data collected. AdvertisementA school in England broke the law when it introduced facial recognition technology to take student lunch payments. The UK's data protection regulator issued a formal reprimand to a 1,200-pupil high school in Essex, a county in southeast England, for not conducting a data protection impact assessment before installing the FRT.
Persons: Organizations: Service, Business Locations: England, Essex
In a recent research note, experts at Goldman Sachs were upbeat on the pound, commenting that sterling "tops the list" in the G-10 basket of major currency crosses. The analysts are sticking with their bet that sterling will rise against the dollar , with a target of 1.31. "Combined with still-high rates [this] could attract capital flows into GBP after many years of being a structural sell," the UBS analysts added. She added, "The tone of many of the policies announced by the new Labour government in recent days are market friendly ... The appearance of order in the U.K. government coupled with an expectation of a warmer relationship with the EU should provide for some optimism."
Persons: Goldman Sachs, Keir Starmer's, Jane Foley Organizations: Bank of, UBS, Labour Party, FX, Labour Locations: Bank of England
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