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☆ England 2 Slovakia 1 – Southgate’s side scrape through, Bellingham to the rescue, tactical questions remain
▼ + stars: | 2024-06-30 | by ( Jacob Whitehead | Oliver Kay | ) www.nytimes.com time to read: +11 min

England edged past Slovakia to reach the Euro 2024 quarter-finals, but only after staring a humiliating defeat in the face. England did get the ball in the net early in the second half, but Phil Foden’s effort was ruled offside. That gave Southgate’s team a lead that they defended successfully for the remainder of extra time to retain their place in the tournament… just. AdvertisementAcross their four matches at this tournament, England showed consistent failings that have not been addressed. Peter RutzlerWas the first half England’s worst of the tournament (so far)?

Persons: Gareth Southgate’s, Ivan Schranz, Jordan Pickford, Phil Foden’s, Declan Rice, Jude Bellingham, —, Harry Kane, Jacob Whitehead, Oliver Kay, Mark Carey, Peter Rutzler, Gareth Southgate, Kyle Walker, Marc Guehi flicked, Cole Palmer, Eberechi Eze, Ivan Toney, Southgate, Carl Recine, Oliver Kay Breaking, Jude Bellingham’s, Marc Guehi, Martin Dubravka, Bellingham, Gareth Southgate England, Kieran Trippier, Trent Alexander, Arnold, Conor Gallagher, Kobbie Mainoo, Ian MacNicol, England —, Toney, Harry Kane’s, underperformance —, Kobbie, Shaun Botterill, John Stones, Ivan Schranz’s, England …, Mainoo Organizations: Slovakia, England, Switzerland, Adidas, Championship, Argentina Locations: Slovakia, England, Ruhr, ignominy, —, Dusseldorf, Bellingham, Martin, Southgate’s, Iceland, Switzerland, Gelsenkirchen

☆ Euro 2024 day 16 – Lightning stops play, Italy’s coach goes backwards, five cruel minutes
▼ + stars: | 2024-06-29 | by ( The Athletic Uk Staff | ) www.nytimes.com time to read: +9 min

Lightning stops playAfter several days of hot weather, the skies above Dortmund’s Signal Iduna Park had been gathering throughout the evening. Thunder and lightning could be heard from afar, with the rain arriving after 32 minutes of Germany’s last-16 game against Denmark. Soon after, lightning flashes could be seen from inside the stadium, with two to three ear-splitting cracks of thunder. The suspension lasted for around 24 minutes — with preparations to restart occurring as soon as the lighting had moved out of the area. Players reemerged from their changing rooms five minutes before the resumption, and waited momentarily for groundstaff to test the pitch.

Persons: Michael Oliver, Oliver, Alex Gottschalk, Bjorn Kuipers, Alex Livesey, Jonathan Richter, Jacob Whitehead Italy, Spalletti’s, Luciano Spalletti didn’t, Spalletti, “, That’s, I’ll, ”, Masashi Hara, Italy haven’t, Strikers Gianluca Scamacca, Mateo Retegui, Giacomo Raspadori, ” Spalletti, “ It’s, Gabriele Gravina, James Horncastle, Joachim Andersen, Manuel Neuer, Christian Eriksen’s, Andersen, Thomas Delaney, Robert Andrich, David Raum’s, Kai Havertz, Kasper Schmeichel, Musiala, What’s Organizations: England, Denmark, UEFA, Getty, FC Nordsjaelland, Major League Soccer, International Broadcasting Centre, Fiat, Croatia, Albania, Strikers, Spain, Italian Football, Georgia Locations: Slovakia, Denmark, Switzerland, Italy, Germany, Turkey, Ukraine, France, England, Sweden, Danish, Real Salt, LAFC, Utah, —, ignominy, Korea, Macedonia, Gelsenkirchen, Iserlohn, Gelsenkirchen . Debutants Georgia, Portugal, Spain

We have everything you need to know about where to watch a free Glastonbury live stream wherever you are in the world. How to watch Glastonbury in the UKCoverage is spread across multiple BBC channels on TV throughout the weekend. Naturally, entire sets from the headliners Dua Lipa, Coldplay, and SZA will be shown live on TV and online. How to watch Glastonbury live stream from anywhere for freeIf you try to live stream Glastonbury via the iPlayer from abroad, you'll find you're geo-blocked due to your location. BBC TV Glastonbury 2024 scheduleAll the times below are in BST for the live streams scheduled on various BBC broadcast channels.

Persons: you've, Shania Twain, you'll, ExpressVPN, Paul Heaton, PJ Harvey, Corinne Bailey Rae, Keane, Nitin Sawhney, Jessie Ware, Steve, Paloma Faith, Twain, Brittany Howard Organizations: Business, Dua Lipa, Coldplay, BBC, Glastonbury, Wimbledon, BBC2, Sugababes, BBC4, BBC1, Party, Twain BBC1, Steel, Brittany Locations: England, Glastonbury, Dua, Dua Lipa

☆ European markets head for negative open as inflation worries persist
▼ + stars: | 2024-06-27 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

A photo shows the bell during a bell ceremony of the Euronext Brussels Stock Exchange in Brussels on March 18, 2024. LONDON — European stocks are expected to open in negative territory Thursday as global inflation worries continue to rattle markets. Global market attention is shifting toward fresh U.S. inflation data on Friday, with May's personal consumption expenditures price index, the U.S. Federal Reserve's preferred inflation gauge, due to be released. Data releases in Europe Thursday include Italy's latest consumer and business confidence numbers, and Spanish retail sales. An EU leader' summit begins in Brussels on Thursday and the Bank of England publishes its latest Financial Stability Report.

Persons: Germany's DAX Organizations: Euronext Brussels Stock Exchange, LONDON, CAC, IG, Global, U.S, U.S . Federal, U.S ., Bank of England Locations: Brussels, U.S ., Asia, Pacific, Europe, EU

☆ France's shock election has rattled nerves and raised debt crisis talk
▼ + stars: | 2024-06-27 | by ( Jenni Reid | ) www.cnbc.com time to read: +6 min

Poster of Christophe Versini for the Rassemblement National (National Rally) party, with Marine Le Pen and Jordan Bardella on it, on June 24, 2024. Recent polling suggests the far-right Rassemblement National (RN, or National Rally) party, led by Jordan Bardella, could win the most seats in the National Assembly, followed by the left-wing alliance Nouveau Front Populaire (NFP, or New Popular Front). French bond yields — which move inversely to prices — have been relatively contained. Even then, he added, the spread of French bond yields over their German counterparts looked set to remain higher than before Macron called the election. There is little concern over France enacting its own "Frexit," he said, with even National Rally having moved away from actively proposing leaving the euro area or the European Union.

Persons: Christophe Versini, Jordan Bardella, Magali Cohen, Emmanuel Macron, Sunday's, Giorgia Meloni, Viraj Patel, Patel, Liz, Truss, Andrew Kenningham, Macron, Kenningham, François Mitterrand, Christian Keller, CNBC's, Keller Organizations: Rassemblement National, Afp, Getty, National Assembly, Societe Generale, BNP, Vanda Research, Capital Economics, European Central Bank, Bank of England, Barclays, European Union Locations: Germany, Italy, Europe, France, Britain

☆ How Support for Britain’s Conservative Party is Collapsing
▼ + stars: | 2024-06-24 | by ( Josh Holder | ) www.nytimes.com time to read: +16 min

How Support for Britain’s Conservative Party is Collapsing2024 polls suggest the Conservatives may lose most of their seats. Most Conservative voters plan to vote for somebody else 2019 election 2024 election polling Fewer than half of Conservative voters say they are sticking with the party. 3% Other Most Conservative voters plan to vote for somebody else 2019 election 2024 election polling Fewer than half of Conservative voters say they are sticking with the party. 3% Other Most Conservative voters plan to vote for somebody else 2019 election 2024 election polling Fewer than half of Conservative voters say they are sticking with the party. How party support has changed since the 2019 election Conservative party Conservative support has dropped across the board, even among older voters who formed their base.

Persons: Mori, Ipsos Mori, Survation YouGov Ipsos Mori, Nigel Farage, Rishi Sunak’s, Liz Truss, David Cameron, pollsters, —, Keir Starmer, It’s, Starmer, Boris Johnson, Farage, ”, Will Jennings, ” Mr, Jennings Organizations: Britain’s Conservative Party, Conservatives, Labour, Conservative, Health, Crime Defense, Housing Education Education Brexit Defense, Welfare, National Health Service, Liberal Democrats, Greens, Conservative Party, Bristol Central, Green, Labour Conservatives S.N.P, Dems, Greens Plaid Cymru Reform, Northern Ireland, Northern, Brexit, University of Southampton, “ Locations: British, Britain, YouGov, Russia, Europe, Britain’s, Israel, Gaza, England, Northern Ireland, Midlands, England's, London

☆ Taylor Swift's economic clout has now come for Europe
▼ + stars: | 2024-06-23 | by ( Katie Balevic | Lauren Edmonds | ) www.businessinsider.com time to read: +4 min

Over the last year, Swift's Eras Tour and its affiliated film cemented her economic prowess in the United States, injecting billions into the economy. AdvertisementLocal businesses are seeing Swift's impact weeks ahead of her concerts. Jo Hale/Getty ImagesEuropean economists monitoring inflation rates in the service sector are examining Swift's tour to see what impact it will have on Europe's economy. Barclays' Consumer Spend research found that Swift's tour is expected to boost the UK economy by £997 million ($1.26 billion). Economist George Moran told the Times, however, that he thinks it's unlikely Swift will impact decision-making at the Bank of England.

Persons: —, Taylor, Swift, Taylor Swift's, Ben Julius, Julius, Taylor Swift, Jo Hale, Lucas Krishan, Krishan, Kevin Mazur, George Moran, Moran, Nomura Organizations: Service, Business, Tourist Italy, Wembley, Getty, European Central Bank, Barclays, Consumer, New York Times, Securities, Rights, Bank of England, Times Locations: Europe, United States, Italy, Milan, London, Central, Paris, France

☆ Can Keir Starmer give Britain the change it desperately wants?
▼ + stars: | 2024-06-23 | by ( Luke Mcgee | ) edition.cnn.com time to read: +10 min

Barring a major shock, Labour leader Keir Starmer will be the person walking through the famous black door of 10 Downing Street in less than three weeks’ time. His parents were political, naming their eldest after the first Labour leader in parliament, Keir Hardie. “He’s the first Labour leader in a generation to talk about class and snobbery,” Tom Baldwin, author of “Keir Starmer: The Biography,” told CNN. Jeremy Corbyn, then the Labour leader, made Starmer his Brexit chief following the 2016 referendum. Starmer, left, and then-Labour leader Jeremy Corbyn talk to the media at the EU Commission headquarters on March 21, 2019 in Brussels, Belgium.

Persons: Rishi Sunak, Conservative Party –, –, Keir Starmer, Starmer, John Stillwell, Keir Hardie, “, ” Tom Baldwin, “ Keir Starmer, ”, …, ” Baldwin, Jeremy Corbyn, Corbyn, Osama bin Laden, Thierry Monasse, Boris Johnson, James Schneider, Dominic Grieve, ” Grieve, Grieve, ” Starmer, Stefan Rousseau Organizations: CNN, Conservative Party, Labour Party, Labour, Downing, Great, Great British Energy, European Union, Public Prosecutions, Crown, Service of, Wales –, University of Leeds, University of Oxford, NATO, EU, Conservative, Conservatives Locations: Britain, Great British, Service of England, London, Brussels, Belgium, Lancing, West Sussex

☆ Germany gets stoppage-time goal to top Group A at Euro 2024, Hungary boosts qualification hopes with late goal
▼ + stars: | 2024-06-23 | by ( Ben Morse | ) edition.cnn.com time to read: +5 min

However, Niclas Füllkrug equalized late on to rescue a point for the host nation and see it top the group. The draw means that Germany finishes on seven points after its three games in Group A, two points ahead of Switzerland. Elsewhere, Hungary scored a dramatic 100th-minute winner against Scotland to get its first win of the tournament and boost its qualification hopes. Germany piled on the pressure as the second half went continued, with Kai Havertz hitting the bar. The second half followed much the same pattern until the injury suffered by Varga halted the game.

Persons: Dan Ndoye, Remo Freuler, Niclas Füllkrug, Barnábas Varga, Angus Gunn, Varga, Damien Meyer, Dominik Szoboszlai, Robert Andrich, Jamal Musiala, Daniele Orsato, Ndoye, Jonathan Tah, Angelos Tzortzinis, Murat Yakin’s, Julian Nagelsmann, Yann Sommer, Kai Havertz, Willi Orbán’s, Kevin Csoboth, Lee Smith Organizations: CNN, Switzerland, C, B, Scotland, Getty, Stuttgart, Hungarian, Germany, Frankfurt, Hungary Locations: Germany, Frankfurt, Switzerland, England, Denmark, Slovenia, Serbia, Italy, Albania, Croatia, Hungary, Scotland, Stuttgart, AFP

☆ I retrained as a plumber after being laid off from my media job and becoming a mom. I love the flexibility.
▼ + stars: | 2024-06-22 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +8 min

In August 2020, I was laid off from my job, and a couple of days later, my husband left me. I was working a contract job for a literacy nonprofit, and thankfully, they allowed me to take six weeks off to complete the plumbing course. AdvertisementThat pushed me to become self-employed in plumbing and do this alongside my media work, which forms the basis of my income. I currently carve out one day a week for plumbing work — I concentrate on smaller maintenance, so I can do around four to six jobs within a day. The plumbing work gives me good flexibility, and I'm very aware that it is a way of future-proofing my career in case the rise of AI makes elements of my media work redundant.

Persons: —, R.J, I've, We'd, Fenton, I'd, they've Organizations: Service, Business, City & Guilds Foundation Locations: Fenton, South East, England

☆ Dollar scales multi-week highs as other cenbanks more dovish than Fed
▼ + stars: | 2024-06-21 | by ( ) www.cnbc.com time to read: +3 min

Even so, Japan's top currency diplomat Masato Kanda stressed on Friday that Tokyo stands ready to take further "resolute" action against "speculative, excessive volatility". The dollar index was little changed at 105.66, on course for a slight weekly gain that would extend its winning streak to three weeks. Sterling was flat at $1.2657, sticking close to the $1.2655 low from Thursday, a level last seen on May 17. The BoE kept rates on hold, but some policy makers said the decision not to cut was "finely balanced". The European Central Bank kicked off its rate cutting cycle earlier this month.

Persons: Tony Sycamore, Sycamore, Masato Kanda, Sterling, BoE Organizations: U.S, Federal, Swiss, Swiss National Bank, Bank of England, Bank of, IG, U.S . Treasury, European Central Bank, Fed Locations: Japan, China, Tokyo

☆ Bank of England holding rates was 'very expected,' asset management firm says
▼ + stars: | 2024-06-21 | 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 holding rates was 'very expected,' asset management firm saysAmr Abol-Enein of CI Capital Asset Management discusses the Bank of England's decision to keep its main interest rate unchanged at 5.25% on Thursday.

Persons: Amr Abol Organizations: Email Bank of, Capital, Management, Bank of Locations: Email Bank of England

☆ Europe stocks look set to extend gains after BOE rate hold, Swiss cut; UK retail sales beat forecast
▼ + stars: | 2024-06-21 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Jack Taylor | Getty Images News | Getty ImagesLONDON — European stocks are heading for a cautiously higher open Friday as investors monitor a slew of central bank decisions and data releases. The pan-European Stoxx 600 index is on course for a weekly gain of more than 1.5%, its best performance since early May. Attention this week turned to central bank action, as the Swiss National Bank announced it would cut interest rates by 0.25 percentage points to 1.25%. The SNB became the first major central bank to cut rates during this cycle back in March. The Bank of England meanwhile kept interest rates unchanged at a 16-year high of 5.25%.

Persons: Jack Taylor Organizations: Getty, Equity, European Union Parliament, Reuters, Swiss National Bank, Bank of England Locations: Godalming, United Kingdom, France

☆ 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

☆ Bank of England Holds Rates Steady, Despite Slower Inflation
▼ + stars: | 2024-06-20 | by ( Eshe Nelson | ) www.nytimes.com time to read: +1 min

The Bank of England held interest rates on Thursday at their highest level since 2008 even as inflation in Britain slowed to 2 percent in May, an important milestone. Policymakers kept rates at 5.25 percent, where they have been for 10 months. “It’s good news that inflation has returned to our 2 percent target,” Andrew Bailey, the governor of the Bank of England, said in a statement. This month, the European Central Bank cut rates for the first time in about five years but warned that it would take a cautious approach to future cuts. The U.S. Federal Reserve also indicated it would reduce rates just once this year, down from an earlier projection of three cuts.

Persons: ” Andrew Bailey, we’ve Organizations: of England, Bank of England, European Central Bank, U.S . Federal Locations: Britain

☆ The Bank of England is still on track for an August interest rate cut, economist says
▼ + stars: | 2024-06-20 | 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 EmailThe Bank of England is still on track for an August interest rate cut, economist saysJames Smith, developed markets economist at ING, digests the Bank of England's decision to keep interest rates unchanged in June and discusses when it might finally cut.

Persons: James Smith Organizations: of England, ING, digests, Bank of

☆ Switzerland makes second interest rate cut as major economies diverge on monetary policy easing
▼ + stars: | 2024-06-20 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

A view of the headquarters of the Swiss National Bank (SNB), before a press conference in Zurich, Switzerland, March 21, 2024. The Swiss National Bank on Thursday trimmed its key interest rate by 25 basis points to 1.25%, continuing cuts at a time when sentiment over monetary policy easing remains mixed among major economies. The figures assumes a SNB interest rate of 1.25% over the prediction period. Switzerland already has the second-lowest interest rate of the Group of Ten democracies by a wide margin, following Japan. It became the first major economy to cut interest rates back in late March and was earlier this month followed by the European Central Bank, and questions are now mounting over whether it will proceed with a third rate cut this year.

Persons: Kyle Chapman Organizations: Swiss National Bank, Reuters, Swiss, U.S ., Nomura, European Central Bank, Ballinger Group, U.S . Federal Reserve, Bank of England Locations: Zurich, Switzerland, Swiss, London, Japan

☆ CNBC Daily Open: Le Pen's 28-year old protégé
▼ + stars: | 2024-06-20 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. China holds rates, stocks dipMarkets in the Asia-Pacific region were trading mostly lower after the People's Bank of China held interest rates unchanged. Russia-North Korea partnershipRussia and North Korea signed a "comprehensive strategic partnership" deal on Wednesday, including a mutual defense pact, during President Vladimir Putin's first state visit to North Korea in 24 years. Musk clarifies remarksElon Musk attempted to clarify his controversial remarks after advertisers threatened to leave X. Musk previously told advertisers to "go f--- yourself."

Persons: Hai Precision Industry —, Foxconn —, Australia's, Guzman Y Gomez, Vladimir Putin's, Putin, Kim Jong Un, CNBC's Holly Ellyatt, Elon Musk, Musk, Goldman Sachs Organizations: New York Stock Exchange, CNBC, People's Bank of China, CSI, Hai Precision Industry, Nikkei, of England, Cannes Lions Locations: New York City, China, Asia, Pacific, Seng, Taiwan, Russia, North Korea, Ukraine, Cannes, France, Europe

☆ Bank of England's November meeting will be key, economist says
▼ + stars: | 2024-06-20 | 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's November meeting will be key, economist saysDavid Owen of Saltmarsh Economics previews the Bank of England's interest rate decision.

Persons: David Owen Organizations: Email Bank, England's, of

☆ Not expecting a Bank of England rate cut, CIO says
▼ + stars: | 2024-06-20 | 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 EmailNot expecting a Bank of England rate cut, CIO saysFaisal Hasan, CIO and head of asset management at Al Mal Capital, says the Bank of England would like to "wait for more stable data" before cutting rates.

Persons: Faisal Hasan, Al Mal Capital Organizations: of England, Al, Bank of Locations: Bank of England

☆ Sterling steady ahead of BoE decision; dollar wobbles against yen
▼ + stars: | 2024-06-20 | by ( ) www.cnbc.com time to read: +3 min

The British pound held broadly steady on Thursday ahead of a rate decision from the Bank of England later in the day, while the dollar was on the back foot as it awaited fresh market catalysts. The British pound held broadly steady on Thursday ahead of a rate decision from the Bank of England later in the day, while the dollar was on the back foot as it awaited fresh market catalysts. Sterling last bought $1.2719 after having eked out a slight gain in the previous session, while the euro rose 0.03% to $1.0747. The dollar slipped 0.05% against the yen to 157.99, though the Japanese currency remained not too far from an over one-month low of 158.255 per dollar hit last week. The BoE is widely expected to keep rates steady on Thursday, and the focus will be on any guidance on how soon an easing cycle could begin.

Persons: BoE, Tony Sycamore, Rodrigo Catril Organizations: Bank of England, Sterling, Wednesday, IG, Swiss National Bank, Swiss, National Australia Bank, New Zealand Locations: United States, Switzerland, Norway, France

☆ European markets head for mixed open as UK awaits Bank of England's rate decision
▼ + stars: | 2024-06-20 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

Commuters crossing a junction near the Bank of England (BOE), left, in the City of London, UK, on Wednesday, May 8, 2024. Photographer: Hollie Adams/Bloomberg via Getty ImagesLONDON — European stocks are expected to open in mixed territory Thursday, with U.K. investors looking ahead to the Bank of England's policy rate decision. The U.K.'s FTSE index is expected to open 16 points higher at 8,212, Germany's DAX up 21 points at 18,087, France's CAC 40 up 3 points at 7,568 and Italy's FTSE MIB up 10 points at 33,192, according to IG. U.K. traders will be focused on the Bank of England's rate decision Thursday, although the central bank is widely expected to hold rates steady at a 16-year high of 5.25%, with the majority of economists polled by Reuters forecasting a cut in August after the country's July 4 election. Data released Wednesday showed U.K. inflation rose by an annual 2.0% in May, hitting the BoE's inflation target.

Persons: BOE, Andrew Bailey, Hollie Adams, Germany's DAX Organizations: Bank of England, City of, Bloomberg, Getty, Bank of, CAC, IG, Reuters Locations: City, City of London

☆ Bank of England holds interest rates steady despite inflation easing to 2% target
▼ + stars: | 2024-06-20 | by ( Jenni Reid | ) www.cnbc.com time to read: 1 min

General view of the Bank Of England building in London. LONDON — The Bank of England on Thursday opted to keep interest rates steady at its June meeting, confirming market expectations even after U.K. inflation hit its 2% target. It keeps the central bank's key rate at a 16-year high of 5.25%, where it has been held since August 2023. Seven members of the Monetary Policy Committee voted to hold, while two favored to cut, the same as during the bank's May meeting. However, economists say the U.K.'s continued high rates of services and core inflation suggest the potential for ongoing upward pressure.

Organizations: Bank, LONDON, Bank of England, Monetary Locations: London

☆ CNBC Daily Open: Russia-North Korea defense pact
▼ + stars: | 2024-06-20 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Russia-North Korea partnershipRussia and North Korea signed a "comprehensive strategic partnership" deal on Wednesday, including a mutual defense pact, during President Vladimir Putin's first state visit to North Korea in 24 years. While the 2% inflation mark is significant, it was anticipated and mainly driven by lower energy prices. Musk clarifies remarksElon Musk attempted to clarify his controversial remarks after advertisers threatened to leave X. Musk previously told advertisers to "go f--- yourself."

Persons: Vladimir Putin's, Putin, Kim Jong Un, CNBC's Holly Ellyatt, Elon Musk, Musk, Eli Lilly Organizations: CNBC, Bank of England, Cannes Lions, CAC, Nasdaq Locations: Russia, North Korea, Ukraine, Cannes, France

☆ Britain Election Winner’s First Problem: Fix a Stagnant Economy
▼ + stars: | 2024-06-19 | by ( Eshe Nelson | ) www.nytimes.com time to read: +1 min

“Our economy has truly turned a corner,” Rishi Sunak, Britain’s prime minister, said last week as he introduced his party’s election manifesto, buoyed by recent data showing that Britain’s economy had exited from a recession more strongly than expected in the beginning of the year and that inflation had slowed substantially. Justifying the optimistic mood, data released on Wednesday showed that consumer prices rose 2 percent in May from a year earlier, touching the Bank of England’s target. That was way down from 11.1 percent in October 2022, when Mr. Sunak started his premiership. Polls suggest there is a desire to eject the governing Conservative Party from Downing Street, after 14 years, in next month’s general election. But lawmakers in the opposition Labour Party have already warned that — should they win — they will inherit a hobbled economy with little room for bold changes.

Persons: Rishi Sunak, Sunak Organizations: of, National Health Service, Conservative Party, Downing, Labour Party

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