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☆ Markets unfazed as Donald Trump has much better debate night than Joe Biden
▼ + stars: | 2024-06-28 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

London CNN —President Joe Biden had a shaky performance in last night’s presidential debate, triggering panic in the Democrat camp. Former President Donald Trump, meanwhile, repeated multiple falsehoods while doubling down on his record of cutting taxes and hiking tariffs during his first presidential term. If repeated in a second Trump term, many economists fear that kind of agenda could stoke inflation at a critical moment and add to America’s rapidly growing debt mountain. That could pull the typical year-end election relief rally forward, said Ed Clissold, chief US strategist at Ned Davis Research. The US dollar has also been reactive — it edged higher as initial CNN polling found that Trump was viewed as the winner of the debate.

Persons: Joe Biden, Donald Trump, shrugged, ”, Keith Lerner, Barack Obama, Trump, Lerner, Ed Clissold, Ned Davis, Antonio Ernesto Di Giacomo, “, Goldman Sachs ’ Scott Rubner, Jonas Goltermann, Emmanuel Macron, Katie Nixon, France’s, CDK, Ramishah Maruf, Eva Rothenberg, aren’t, they’ve, Scott Campbell, CNN they’ve, Jordan Valinsky, Tim Wentworth Organizations: London CNN, Democrat, Trump, “, Biden, Ned, Ned Davis Research, Investors, Capital Economics, CNN, Renaissance, Northern Trust Wealth Management, CAC, CDK, Auto, Capital City Buick GMC, Bloomberg, Walgreens Locations: France, “, North America, United States, Canada, Berlin , Vermont, Eastern Europe, America

☆ Princess Anne is out of hospital and recuperating at home after suffering head injury
▼ + stars: | 2024-06-28 | by ( Max Foster | Lauren Said-Moorhouse | ) edition.cnn.com time to read: +1 min

The Princess Royal, 73, had been injured while walking near horses at the royal estate, in Gloucestershire, western England, on Sunday evening. Anne will continue to rest and recover at home and return to public engagements when her medical team recommends it is safe and comfortable to do so, the source told CNN. He said in a statement, “I would like to extend my warmest thanks to all he team at Southmead Hospital for their care, expertise and kindness during my wife’s short stay,. The exact circumstances that led to the Princess Royal’s injuries were not clear but previously her medical team said that her head injuries were consistent with a potential impact from a horse’s head or legs. Emergency services were sent to the estate and, after medical care at the scene, she was transferred to Southmead Hospital in Bristol for appropriate tests, treatment and observation.

Persons: Anne, King Charles III, Princess Royal, Tim Laurence, “ Organizations: London CNN, CNN, Southmead Hospital Locations: Gloucestershire, England, Bristol

☆ Pearl Jam cancel London concert due to illness
▼ + stars: | 2024-06-28 | by ( Issy Ronald | ) edition.cnn.com time to read: +1 min

London CNN —Pearl Jam has canceled its scheduled concert at Tottenham Hotspur Stadium in London on Saturday because of “illness in the band,” it announced on Friday. Due to existing schedule commitments, the American rock band added that it would not be able to reschedule the concert and would refund all the tickets purchased. “There was simply no other option based on our current health and also having to avoid further damage,” it added. “We couldn’t be more disappointed to not play one of our favorite cities this tour,” the band said, adding that it was “deeply grateful” for the support of its fans. It is currently touring Europe, the United States and Australia in support of its latest album “Dark Matter” and is next scheduled to perform in Berlin on Tuesday.

Persons: Jam, Eddie Vedder, Pearl, ”, Pearl Jam Organizations: London CNN, Tottenham Hotspur, Dublin, Roll Hall of Fame Locations: London, Manchester, Europe, United States, Australia, Berlin

☆ Markets are adjusting to stubborn inflation. Election noise could spoil the calm
▼ + stars: | 2024-06-27 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Add to that the noise surrounding the US election, and it could be a rougher second half. Central Banks in Canada and the eurozone have both cut interest rates, but inflation rose in both of those regions last month. Australia, meanwhile, saw its inflation rate rise to 4% this week, stoking fears that the Reserve Bank of Australia could soon move to raise rates again. It was already well known that no documentation was found to show who worked on the door plug. Without the bolts, the door plug incident was pretty much inevitable.

Persons: London CNN —, they’ve, Michelle Bowman, she’s, Mary Daly, Austan Goolsbee, stoking, Joe Biden, Donald Trump, ”, José Torres, Torres, wouldn’t, Joseph Stiglitz, Trump, Trump’s, Max, “, Al Michaels, Michaels, Peacock, ” Michaels, ‘, CNN Michaels, Read Organizations: CNN Business, Bell, London CNN, Federal Reserve, foibles, San Francisco Fed, Chicago Fed, Central Banks, Reserve Bank of Australia, Interactive Brokers, Treasury, Trump, Peterson Institute, Oxford Economics, Allianz, CNN, Boeing, Alaska, Alaska Airlines, National Transportation Safety Board, Alaska Air, NBC, Summer Games, Olympics Locations: London, Canada, Australia, Renton , Washington, Paris, ’

☆ The Nvidia spell has been broken. Here’s what could come next
▼ + stars: | 2024-06-26 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

London CNN —Nvidia, Nvidia, Nvidia. Nvidia’s stock bounced back Tuesday, yet investors have been reminded of a potentially bubble-bursting truth: You can fly too close to the sun. For context, it took Warren Buffett about 60 years to build Berkshire Hathaway into a nearly trillion dollar company. But typical volatility can have seismic repercussions when it comes to a stock as all-consuming as Nvidia. Analysts at The Carlyle Group say that while artificial intelligence is revolutionizing the world around us, the Nvidia stock bubble will eventually burst.

Persons: Warren Buffett, Berkshire Hathaway, Microsoft’s, ”, Jim Smigiel, Louis Navellier, Nvidia’s, ” Jochen Stanzl, Emily Bowersock Hill, Jason Thomas, Carlyle’s, ” Neil Roarty, Stocklytics, —, Levi’s, “, LEVI, ” Read, Ryan Callahan, ” Callahan, CDK, Tom McParland Organizations: CNN Business, Bell, London CNN, Nvidia, Berkshire, Deutsche Bank, SEI, Navellier, Associates, CMC, CNN, Bowersock Capital Partners, The Carlyle Group, ’ Association, Mazda, North America, Automatic Consulting Locations: London, Turkey, Istanbul, Seekonk , Massachusetts

☆ Snapchill canned coffee recalled in the US over botulism fears
▼ + stars: | 2024-06-26 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —All Snapchill canned coffee products are being recalled across the United States because of fears they may contain a deadly toxin. The botulinum toxin can cause botulism, a rare but potentially fatal disease, according to the World Health Organization (WHO). “Snapchill is working on filing the appropriate notification with FDA,” the statement added. Snapchill distributed its products across the country through coffee roasters and retail outlets, as well as its own website. “Consumers should either destroy the products or return the product to Snapchill or the place of purchase for a refund,” the statement on the FDA’s website said.

Persons: ” “ Organizations: London CNN, Food and Drug Administration, FDA, World Health Organization, WHO, “ Locations: United States

☆ Elvis Presley’s actual blue suede shoes are up for auction
▼ + stars: | 2024-06-26 | by ( Catherine Nicholls | ) edition.cnn.com time to read: +2 min

London CNN —When Elvis Presley’s debut album took the charts by storm in 1956, “Blue Suede Shoes” was its opening track. Now, fans have the opportunity to step into the King’s very own blue suede shoes as they go up for grabs at British auction house Henry Aldridge and Son – for an estimated £100,000 to £120,000 (around $126,000 to $152,000). The shoes have been authenticated by Jimmy Velvet, a close friend of Presley and the founder of the Elvis Presley Museum. “The night before Elvis’ army induction here in Memphis, Elvis had an all night party at Graceland,” the letter says, according to the auction site. That night Elvis gave me these blue suede shoes size 10 1/2.

Persons: Elvis Presley’s, ”, Henry Aldridge, Son –, Presley, Steve Allen, Bush, Alan Fortas, Jimmy Velvet, Elvis Presley, Fortas, Elvis ’, Elvis Organizations: London CNN, NBCU, Bank, Getty, US Army, Elvis Presley Museum, Son Locations: Memphis, Graceland

☆ The world’s future energy wars will be fought under the sea
▼ + stars: | 2024-06-26 | by ( Angela Dewan | ) edition.cnn.com time to read: +12 min

The technology to store renewable energy for long periods hasn’t quite been mastered, either. The interconnector would send renewable energy both east and west, taking advantage of the sun’s diurnal journey across the sky. The transatlantic interconnector is still a proposal, but networks of green energy cables are starting to sprawl across the world’s sea beds. They are fast becoming part of a global climate solution, transmitting large amounts of renewable energy to countries struggling to make the green transition alone. Not all of them carry renewable power exclusively — that’s sometimes determined by what makes up each country’s energy grid — but new ones are typically being built for a green energy future.

Persons: there’s, ”, Simon Ludlam, “ We’ve, we’ve, Fadel Senna, Paul Ellis, Biden, Laurent Segalen, Energy’s Ludlam, “, you’ve, you’re, Trump, Dmitry Peskov, George Dyson, Dyson, Morten Kruger, Frank Schneider, Alberto Rizzi, ” Rizzi Organizations: London CNN, Etchea Energy, Getty, Burbo, Sun Cable, Initiative, NATO, European Council, Foreign Relations, United, European Union Locations: New York, California, Britain, Europe, North America, Canada, France, East Coast, United States, Paris, Belgium, Norway, Netherlands, Denmark, Morocco, Moroccan, Ouarzazate, AFP, English, New Brighton, Australia, Singapore, India, Saudi Arabia, Asia, East, Beijing, London, Russia, China, Germany, Ukraine, Finland, Sweden, Baltic, Western Europe, North, Russian, Aqaba, Jordan, Taba, Egypt, Red, America, EU

☆ Elvis Presley’s actual blue suede shoes sell for $150,000 in auction
▼ + stars: | 2024-06-26 | by ( Catherine Nicholls | ) edition.cnn.com time to read: +2 min

London CNN —When Elvis Presley’s debut album took the charts by storm in 1956, “Blue Suede Shoes” was its opening track. Now, the King’s very own blue suede shoes have sold for the princely sum of £120,000 (around $152,000) after they went up for grabs at British auction house Henry Aldridge and Son on Friday. The shoes were bought by a client from California, Henry Aldridge and Son told CNN. That night Elvis gave me these blue suede shoes size 10 1/2. According to Henry Aldridge and Son, another iconic piece of music history was sold on the same day as Presley’s shoes.

Persons: Elvis Presley’s, ”, Henry Aldridge, Son, Presley, Steve Allen, Bush, Alan Fortas, Jimmy Velvet, Elvis Presley, Fortas, Elvis ’, Elvis, Freddie Mercury Organizations: London CNN, CNN, NBCU, Bank, Getty, US Army, Elvis Presley Museum, Son Locations: California, Memphis, Graceland

☆ Denmark to charge $100 per cow in world’s first carbon tax on farming
▼ + stars: | 2024-06-26 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

London CNN —Dairy farmers in Denmark face having to pay an annual tax of 672 krone ($96) per cow for the planet-heating emissions they generate. The country’s coalition government agreed this week to introduce the world’s first carbon emissions tax on agriculture. On average, Danish dairy cows, which account for much of the cattle population, emit 5.6 tonnes of CO2-equivalent per year, according to Concito, a green think tank in Denmark. Using the lower tax rate of 120 krone results in a charge of 672 krone per cow, or $96. With the tax break in place, that levy will rise to 1,680 krone per cow in 2035 ($241).

Persons: Lars Lokke Rasmussen, “, ”, Torsten Hasforth, Landbrug, Peter Kiær, ” Peder Tuborgh, Kristian Hundeboll Organizations: London CNN — Dairy, ”, United Nations, Food, Agriculture Organization, CNN, Arla Foods, DLG, Initiative Locations: Denmark, Danish, Europe

☆ Nvidia share price nosedives to wipe $430 billion off company’s value
▼ + stars: | 2024-06-25 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

The US chipmaker’s market capitalization hit $3.34 trillion on June 18 to surpass Microsoft’s but has since shed $430 billion. Now worth $2.91 trillion, Nvidia has fallen into third place globally, behind Microsoft (MSFT) and Apple (AAPL), which have a market cap of $3.33 trillion and $3.19 trillion respectively. The company’s chips power AI systems, including generative AI, the technology behind OpenAI’s ChatGPT that can create text, images and other media. Now investors have started to take profits and they seem to prefer selling stocks with the best year-to-date performance.”Market contagion? Nvidia is a member of the so-called Magnificent Seven, the mega-cap tech companies whose shares greatly outperformed the broader US stock market rally last year.

Persons: ” Jim Reid, OpenAI’s, Nvidia’s, ” Jochen Stanzl, —, ”, Derren Nathan, Hargreaves, isn’t, “ Organizations: London CNN, Nvidia, US, Microsoft, Apple, Deutsche Bank, CMC, CNN, Nasdaq

☆ Microsoft faces mega fine after EU takes issue with bundling of Teams and Office
▼ + stars: | 2024-06-25 | by ( Hanna Ziady | Brian Fung | ) edition.cnn.com time to read: +2 min

London CNN —Microsoft has violated European Union antitrust laws by bundling Teams with its other popular applications for businesses, EU officials said Tuesday, marking the bloc’s latest challenge to a US tech giant. If confirmed, the preliminary findings of an EU investigation could lead to a fine of up to 10% of Microsoft’s global revenue, which totaled $211 billion in its latest financial year. Apple, which has denied wrongdoing, also faces a huge fine if the charges are confirmed. “Preserving competition for remote communication and collaboration tools is essential as it also fosters innovation on these markets. If confirmed, Microsoft’s conduct would be illegal under our competition rules,” she added.

Persons: Apple, Slack, Margrethe Vestager Organizations: London CNN, Microsoft, Digital Markets, Apple, European Commission, Salesforce, CNN

☆ Fed officials are talking down the chance of rate cut this year
▼ + stars: | 2024-06-25 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

London CNN —At the beginning of the year, Federal Reserve officials projected they would cut interest rates three times this year. The labor-force participation rate has leveled off after a post-Covid boom, and the US immigration policy rate may soon become more restrictive, limiting potential new labor market participants. “Reducing our policy rate too soon or too quickly could result in a rebound in inflation, requiring further future policy rate increases to return inflation to 2% over the longer run.”Investors weren’t happy to hear it. That’s why not taking preemptive action when it’s not necessary is so important.”Chicago Fed President Austan Goolsbee has also been particularly hawkish in his views. He also said rate hikes are “certainly not off the table.”Like Bowman and Kashkari, New York Fed President John Williams said rate hikes aren’t part of his baseline outlook.

Persons: Michelle Bowman, she’s, ” Bowman, Bowman, ”, Dow, Mary Daly, Daly, ” Daly, “ We’re, it’s, Austan Goolsbee, Goolsbee, Neel Kashkari, John Williams, he’s Organizations: London CNN —, Federal Reserve, Exchange, London ., Federal, Market, Nvidia, San Francisco Fed, Commonwealth Club World Affairs of California, Chicago Fed, Minneapolis, Kashkari , New York Fed, Commerce Department Locations: London, San Francisco, Kashkari , New

☆ The fertility crisis is here and it will permanently alter the economy
▼ + stars: | 2024-06-25 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

In the 1960s, there were six people of working age for every retired person, according to the World Economic Forum. “What you’re seeing is increased spending on programs like Medicare and Social Security as the baby boomers are aging into those programs. And then of course, fewer workers relative to the number of people who are receiving Social Security and Medicare benefits,” said Dahl. Social Security payments still provide about 90% of income for more than a quarter of older adults in the United States, according to Social Security Agency surveys. But without intervention, the Social Security trust fund will be depleted by the mid-2030s, meaning that only a portion of retirees’ expected benefits will be paid out.

Persons: it’s, Louis, Simona Paravani, ”, Elon Musk, Kimberly, Clark, Mark Schneider, he’s, Emmanuel Macron, Donald Trump, Molly Dahl, Dahl, Eric Schmidt, ” Schmidt, Goldman Sachs, Stefano Scarpetta, Li Qiang, Juliana Liu, Joyce Jiang, Li, China’s, Xi Jinping, Biden, Max Prosecutors, haven’t, Max, Read Organizations: London CNN, Organisation for Economic Co, Development, Economic, Federal Reserve Bank of St, BlackRock, Disease Control, Congressional Budget Office, CBO, Social Security, Social, Social Security Agency, Google, Summit, Federal Reserve Bank of Richmond, OECD, ” Companies, West Chinese, CNN, EV, Prosecutors, Boeing, Max, US Justice Department, Alaska Air, Justice Department, Federal Aviation Administration Locations: Chad, Niger, Somalia, Samoa, Tonga, Tajikistan, United States, London, China, Beijing, Dalian, Canada, Beijing’s “

☆ Princess Anne hospitalized with minor injuries following incident at her home
▼ + stars: | 2024-06-24 | by ( Max Foster | David Wilkinson | ) edition.cnn.com time to read: +1 min

London CNN —Princess Anne, the sister of King Charles III, has been hospitalized as a precaution after she sustained minor injuries and a concussion in an “incident” at her home, Buckingham Palace has said in a statement. A royal source told CNN that Anne, 73, was walking near horses in her Gatcombe Park estate, in Gloucestershire, western England, when she suffered minor injuries to her head. While the exact cause of these injuries is unconfirmed, Princess Anne’s medical team say that her head injuries are consistent with a potential impact from a horse’s head or legs. “The Princess Royal has sustained minor injuries and concussion following an incident on the Gatcombe Park estate yesterday evening,” the statement said Monday. The royal source said the princess’s upcoming royal engagements have been postponed on her doctors’ advice.

Persons: Anne, King Charles III, Anne’s, Princess Royal, “, Buckingham, King “, ” Anne, King Charles ’, Queen Elizabeth II’s, Princes Andrew, Edward Organizations: London CNN, CNN, Southmead Hospital Locations: Gatcombe, Gloucestershire, England, Bristol, Southmead Hospital, Montreal

☆ The stock market is having its best election year ever
▼ + stars: | 2024-06-24 | by ( Nicole Goodkind | Matt Egan | ) edition.cnn.com time to read: +9 min

The S&P 500 alone has generated an average return of 7% during presidential election years since 1952, according to LPL Financial. If you limit that to election years in which the incumbent president is running for reelection, the average jumps to 12.2%. Yes, but: Market volatility in an election year tends to pick up in October and there are many months left in this cycle with potential surprises to come. “An autumn pullback fits well time wise with potential downside earnings revisions, make-or-break decision time for the Fed, and election uncertainty. The first round of the French election will be held on June 30, with a second round on July 7.

Persons: Goldman Sachs —, Ed Clissold, Ned Davis, they’re, It’s, Goldman Sachs ’ Scott Rubner, “, ”, Mark Hackett, Scott Chronert, Goldman Sachs, Joe Biden, Donald Trump, Jim Reid, There’s, Emmanuel Macron, Katie Nixon, Chris Isidore ., they’ve, Samantha Murphy Kelly, ChatGPT —, Siri —, OpenAI, Siri, ChatGPT, hasn’t, — Organizations: London CNN — Traders, Investors, White, Ned, Ned Davis Research, Nasdaq, Citigroup, Goldman, Barclays, Deutsche Bank, UBS, Deutsche, Fed, United, Labour Party, Renaissance, Northern Trust Wealth Management, Alaska Airlines, Alaska —, Southwest —, Southwest, Railway Labor, Apple, Apple Intelligence, Microsoft, Google, Meta, Samsung, Cyberspace Administration, Wall, IDC Locations: United States, France, “, Alaska, China

☆ King Charles III takes the reins at Royal Ascot
▼ + stars: | 2024-06-21 | by ( Billy Stockwell | ) edition.cnn.com time to read: +6 min

London CNN —Arriving in a horse-drawn open carriage, King Charles III and Queen Camilla attended Royal Ascot in style this week. “We wish all the participants this week the very best of luck in seeking that unique thrill of a Royal Ascot winner.”Last year’s Royal Ascot saw an unlikely win for Charles, with his horse, Desert Hero, overcoming odds of 18 to 1 to land first place. This love of horses has bound together multiple generations of the royal family, from the time of Queen Anne in the 18th century, when Royal Ascot was created, to the present day. Queen Elizabeth II and John Warren cheer on her horse Estimate to win the Gold Cup at Royal Ascot on June 20, 2013. Getty ImagesAnd given Charles’ good fortune at last year’s Royal Ascot, it seems Queen Elizabeth’s lucky streak has passed down to her son.

Persons: King Charles III, Queen Camilla, Camilla, Charles, King George V, ”, Francis Brooke, Charles ’, ” Brooke, “, Queen Anne, Queen Elizabeth II, Anne, Elizabeth, John Warren, Mark Cuthbert, ” John Warren, wasn’t, Princess Anne, Queen, Queen Victoria, Grey, CNN’s Max Foster, Lauren Said, Moorhouse, Ben Church, Aly Vance Organizations: CNN’s Royal, London CNN —, Royal Ascot, Ascot, Hero, Jockey, Central Press, Getty, Royal, Press, CNN, British, Montreal Olympic Games, Jockey Club, Epsom Downs, Windsor , Windsor Greys Locations: London, Berkshire, England, Epsom, Windsor, Quebec, Canada, Windsor , Windsor

☆ LVMH owner Bernard Arnault liked this Paris bistro so much his company bought it
▼ + stars: | 2024-06-21 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —French luxury conglomerate LVMH has added a tiny Parisian bistro to its sprawling empire of designer fashion brands, jewelry makers and hotels. A dish served at Chez l'Ami Louis restaurant in Paris. Her lifestyle company Goop describes Chez L’ami Louis on its website as “one of the best, most venerable bistros in Paris.”“It is small and wood-paneled, with an ancient oven and a sick wine list,” Goop gushed. In 2019, the company acquired Belmond, which owns hotels and organizes luxury rail and river cruises, in a $3.2 billion deal. Earlier this month, LVMH announced “a strategic investment” in the Orient Express, a brand offering luxury train travel owned by French hospitality firm Accor.

Persons: Bernard Arnault, Chez L’ami Louis, LVMH, “, Bill Clinton, Martin Scorsese, Victoria Beckham, Gwyneth Paltrow’s, Paris Arnault, Arnault, Kering, ” Arnault, Jeff Bezos, Elon Musk, Louis Vuitton Organizations: London CNN, Chez, Louis, CNN, Notre Dame, Bloomberg, Dior, Orient Express Locations: Paris

☆ Alfa Bank: US-sanctioned Russian banking giant expands in China
▼ + stars: | 2024-06-20 | by ( Laura He | Olesya Dmitracova | ) edition.cnn.com time to read: +3 min

Hong Kong/London CNN —Battered by Western sanctions, Russia’s largest privately owned bank is expanding its business in the world’s second-largest economy. That would make the lender the first private Russian bank to open full-service branches in the two major Chinese cities. The bank is part of Alfa Group, one of Russia’s largest financial and investment conglomerates, which was founded by Fridman. Alfa Bank made a loss of 117.1 billion rubles ($1.44 billion) in 2022, according to its annual report for that year. A year later, it seemed to bounce back, reporting profit of 120.9 billion rubles ($1.4 billion) for 2023.

Persons: Mikhail Fridman, hasn’t, Fridman Organizations: London CNN, Alfa Bank, CNN, Alfa Group, European, Moscow, Hong Kong Equity Investment Association Locations: China, Hong Kong, London, Russian, Beijing, Shanghai, Ukraine, United States, Russia, Italy, Western

☆ Want your child to go to Eton? Get ready to pay $13,000 more each year
▼ + stars: | 2024-06-20 | by ( Anna Cooban | ) edition.cnn.com time to read: +10 min

London CNN —Private schools in Britain may conjure up images of rolling lawns, pristine tennis courts, and dormitory rooms, serving as gilded hothouses of privilege. Not every private school is “synonymous with privilege and great wealth,” argues Sue Hannam, headteacher at Lichfield Cathedral School, a private school in central England. About 620,000 children are currently enrolled in private schools in Britain, equivalent to almost 6% of all school children, according to the Independent Schools Council. Hodge at the Education Policy Institute noted that, accounting for inflation, private school fees had risen by as much as 25% since 2010. Still, a demographic shift means state schools may “welcome” the influx, Sibieta wrote last year.

Persons: YouGov, ”, Sue Hannam, “ We’ve, …, they’re, —, Hannam, John Keates, we’ve, Keir Starmer, “, ” Starmer, Louis Hodge, that’s, Loveena Tandon, … it’ll, it’s, Julie Robinson, they’ll, Robinson, ” Robinson, Christine Cunniffe, ” Cunniffe, Hodge, That’s, he, ” Luke Sibieta, Oli Scarff, Sibieta Organizations: London CNN — Private, Eton College, Labour Party, Eton, Labour, Lichfield Cathedral School, CNN, Lichfield, Independent Schools, Institute for Fiscal Studies, Sky News, Education Policy Institute, ISC, Ascot, Education, Institute, Getty Locations: Britain, Lichfield, England, United Kingdom, Lichfield , United Kingdom, London, “, Manchester, AFP

☆ Red Sea crisis: The shipping industry is sounding the alarm as another vessel sinks
▼ + stars: | 2024-06-20 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

London CNN —Leading shipping groups have urged governments “with influence” to put a stop to Houthi attacks on vessels in the Red Sea after a second freighter sank this week. The latest sinking is likely to have led to another death, according to a statement Wednesday from more than a dozen shipping associations, including the International Chamber of Shipping and the World Shipping Council. The longer diversion around the southern tip of Africa has sent shipping costs soaring and is causing congestion at ports in Asia and Europe, threatening to scramble global supply chains. We call for states with influence in the region to safeguard our innocent seafarers and for the swift de-escalation of the situation in the Red Sea,” they added. “Houthi attacks continue to make the Red Sea unsafe, and increases in charter activity and rates indicate carriers expect congestion to remain a factor for some time,” he added.

Persons: ”, “, Hapag Lloyd, Judah Levine Organizations: London CNN, International Chamber of Shipping, World Shipping Council, Maritime Trade, Royal Navy, Shipping, Maersk, Drewry, Carriers Locations: Red, Africa, Asia, Europe, ., Yemen, Gaza, Suez, London, Red Sea, Singapore, Malaysia, Shanghai, China, Barcelona, Spain

☆ UK inflation is finally back at 2%. Here’s why rate cuts are still ‘off the table’
▼ + stars: | 2024-06-19 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

That suggests the Bank of England won’t follow the European Central Bank in cutting interest rates when it meets Thursday. A rate cut in August, when UK policymakers meet next, is now also less likely. Other economists, including analysts at Nomura, thought an August rate cut was still possible if pay rises and the price of services cooled further. “For an August rate cut, we will need other economic news to play ball,” the analysts wrote in a note. UK inflation peaked at 11.1% in October 2022, driven to a 41-year high by surging food and energy costs.

Persons: ”, Zara Noakes, Rebecca Florisson, Jake Finney Organizations: London CNN —, Bank of, Bank of England, European Central Bank, JPMorgan Asset Management, Nomura, “ Workers, Work Foundation, Lancaster University, PwC Locations: United Kingdom, England, United States, Europe

☆ This woman sculpts celebrity busts – from sushi
▼ + stars: | 2024-06-19 | by ( Lianne Kolirin | ) edition.cnn.com time to read: +2 min

London CNN —When Ed Sheeran wrote “Shape of You,” he probably didn’t have this vision of himself sculpted from sushi ingredients in mind. The British megastar is just one of several celebrities whose image has been recreated using ingredients like rice, salmon and pickled ginger by British food artist Michelle Wibowo. Wibowo puts the finishing touches to Sheeran, whose pun-y likeness is pictured alongside "Eelton" John and British TV host Alison "Salmond" Hammond. The unusual creations were on display at the CasildArt Gallery in London as part of a collaboration with Japanese food brand Yutaka to mark International Sushi Day on Tuesday. “I’m used to creating sculptures from unconventional materials, but working with sushi ingredients was a whole other kettle of fish!” Wibowo said in a press release sent to CNN by the organizers.

Persons: Ed Sheeran, ”, Michelle Wibowo, Elton John, Benedict Cumberbatch, Harry Kane, Wibowo, Sheeran, Eelton, John, Alison, Salmond, Hammond, Simon Jacobs, PinPep Wibowo, “ I’m, Benedict Cucumberbatch, Edamame Sheeran, Ken Furukawa, “ Organizations: London CNN, England, CNN, Bukayo, Tazaki Foods Locations: British, London

☆ Paris loses stock market crown to London as political upheaval looms
▼ + stars: | 2024-06-18 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN —London’s stock market has edged ahead of its rival in Paris as fears grow over the outcome of France’s looming parliamentary elections. The first round of the French elections is scheduled for June 30, followed by a second round on July 7. Hubert de Barochez, a senior market economist at consultancy Capital Economics, said investors might be concerned that a parliament run by the National Rally would penalize banks. In contrast with the political and financial turmoil in France, UK financial markets are “relatively stable,” said Rudolph at IG Group. Credit ratings agencies are already keeping a close eye on France, one of the EU’s three most-indebted countries.

Persons: Emmanuel Macron, Axel Rudolph, you’ve, ”, OpinionWay, Macron, Hubert de Barochez, Rudolph, Richard Hunter, Mohit Kumar Organizations: London CNN, Bloomberg, CAC, FTSE, European Union, “, CNN, National, BNP, Credit, Capital Economics, IG Group, Labour Party, Interactive Investor, National Rally, Jefferies Locations: Paris, France, United Kingdom, Europe’s, Britain

☆ World’s nuclear powers strengthening arsenals as geopolitical tensions grow, report finds
▼ + stars: | 2024-06-18 | by ( Radina Gigova | ) edition.cnn.com time to read: +6 min

London CNN —Nuclear-armed countries are strengthening their arsenals and several have made ready new nuclear-armed or nuclear-capable weapons systems amid rising geopolitical tensions, a new report has found. “While the global total of nuclear warheads continues to fall as Cold War-era weapons are gradually dismantled, regrettably we continue to see year-on-year increases in the number of operational nuclear warheads,” the institute’s director Dan Smith said. “Accordingly, there is a growing concern that North Korea might intend to use these weapons very early in a conflict.”Protesters against nuclear weapons outside the US mission to the UN. Moscow has continued to make threats involving the use of nuclear weapons in light of Western aid for Ukraine, and in May 2024 carried out tactical nuclear weapons drills close to the Ukrainian border, SIPRI said. “We have not seen nuclear weapons playing such a prominent role in international relations since the Cold War,” said Wilfred Wan, the director of SIPRI’s Weapons of Mass Destruction Program.

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