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LONDON — The International Monetary Fund on Tuesday lifted its 2024 growth outlook for the U.K. to 0.7% from 0.5%, providing a further boost to the country's new government. Looking ahead, the Washington, D.C.-based IMF reiterated its forecast for 1.5% U.K. growth in 2025 in the July update of its World Economic Outlook. Investment bank Goldman Sachs earlier this month nudged its 2025 forecast for the U.K. economy 0.1 percentage point higher, to 1.6%. Other economies given a 2024 growth upgrade by the IMF on Tuesday included the euro zone, which it lifted by 0.1 percentage point to 0.9%, Spain, up 0.5 percentage point to 2.4%, and China, up 0.4 percentage point to 5%. It lowered its forecast for the U.S. economy by 0.1 percentage point to 2.6%.
Persons: Taylor, Goldman Sachs, Keir Starmer, Goldman, — CNBC's Sophie Kiderlin, Vicky McKeever Organizations: Nine, Monetary Fund, D.C, Investment, Labour, European Union . Deutsche Bank, Friday, Deutsche Bank, Jefferies, Bank of England, Reuters, IMF Locations: Ruskin Park, London, England, Washington, brightening, Spain, China, U.S, Asia
Former US President Donald Trump during a campaign event at Trump National Doral Golf Club in Miami, Florida, US, on Tuesday, July 9, 2024. "Trump's re-election would thus pose a significant downside risk to our otherwise constructive growth forecast for the Euro area." Trade policy uncertainty, added defense and security pressures and spillover effects from U.S. domestic policies on, for example, taxes could impact Europe, they explained. Trade tensionsTrump's trade policy, and the uncertainty around it, could be one factor that impacts Europe's economy, just as it did during his last presidency, analysts Stehn and Moberly said. In 2018 and 2019, uncertainty about trade policy reduced industrial production in the euro area by around 2%, they estimated.
Persons: Donald Trump, Eva Marie Uzcategui, Goldman Sachs, Jari Stehn, James Moberly, Trump's, Trump, Joe Biden, Moberly Organizations: Trump National Doral Golf Club, Bloomberg, Getty, White, Trump, European Union, EU, . Defense, NATO, U.S, Stehn Locations: Miami , Florida, Europe, Pennsylvania, U.S, Germany, Stehn, Moberly, Ukraine
CNN —Israel has announced that a Hamas commander was killed in Saturday’s strike on southern Gaza, but the fate of the major target, Hamas military chief Mohammed Deif, remains uncertain. The Israeli military is verifying whether he was killed while Israeli Prime Minister Benjamin Netanyahu also acknowledged it is uncertain whether he died. The Ministry of Health in Gaza said the strike killed at least 90 Palestinians and injured 300 others in Al-Mawasi, a designated humanitarian zone. If his death is confirmed, Deif would be the highest profile Hamas leader killed since the war in Gaza began nine months ago. Israeli intelligence services said this past week they killed a total of 25 Hamas operatives involved in the October 7 attacks.
Persons: CNN — Israel, Mohammed Deif, Rafe Salama, Khan Younis, , Salama, Deif, Benjamin Netanyahu, Scott Anderson, Ronen, Shin, Bet’s “ Organizations: CNN, Israel Defense Forces, Health, Shin Bet, IDF’s Southern Command, UN, Sunday, Ministry of Health, Israeli Air Force Locations: Gaza, Al, Israel, Rafah, Nuseirat
CNN —Israel has targeted Hamas’ military chief Mohammed Deif in a strike on a designated humanitarian zone in southern Gaza which killed at least 90 Palestinians. He has led the Palestinian militant group’s armed wing for more than two decades. This image taken from video and released by Hamas on August 26, 2005, shows a man identified as Mohammed Deif. He became a founding member of Hamas’ armed wing, the Qassam Brigades, in the early 1990s. Deif, a man who lives his life in the shadows, has managed to survive for decades while running Hamas’s armed wing.
Persons: CNN —, Mohammed Deif, Deif, Khan, Mohammad Diab Ibrahim al, Masri, El, , Graves, Mohammed Salem, Reuters Deif, , Ismail Haniyeh Organizations: CNN, EU, AP, Hamas, Qassam, Israel, Reuters, Criminal Court Locations: CNN — Israel, Gaza, Israel, Jerusalem, Tel Aviv, Palestine, Israeli
CNN —At least 71 Palestinians have been reported killed in an Israeli strike on a displacement camp in southern Gaza which Israel said targeted Hamas’ military chief, who was an alleged mastermind of the October 7 attacks. “I cannot describe to you the magnitude of the tragedy,” one resident told CNN. Mohammed Deif – the leader of Qassam Brigades, Hamas’ military wing – was the figure targeted, an Israeli security official told CNN. Palestinians gather near damage caused by an Israeli strike at a tent camp in Al-Mawasi area on Saturday. A 2014 Israel strike killed his wife, seven-month-old son and three-year-old daughter.
Persons: Mohammed Deif –, Qassam, Deif, Khan Younis, Rafe Salama, Mohammed Salem, , , Hammoud, Aida Hamdi, Salama, Trevor Ball, Yoav Gallant, Herzi Halevi, Mohammed Diab Ibrahim al, Masri, El Deif Organizations: CNN, , Gaza Health Ministry, Nasser, Boeing, US, Israeli, Shin, Reuters Locations: Gaza, Israel, Al, Kuwait, Khan, Jerusalem, Tel Aviv
CNN —Israel says it targeted Hamas’ top military official, Mohammed Deif, in an airstrike in southern Gaza, with local authorities saying at least 71 Palestinians were killed in multiple strikes in the same area. Deif – the leader of Hamas’ Qassam Brigades – was targeted Saturday in an airstrike based on precise intelligence in Al-Mawasi, a camp west of the city of Khan Younis, an Israeli security official told CNN. The Israeli military said it in the process of verifying whether Deif was killed in the strike. Deif was targeted alongside the head of the Khan Younis brigade, Rafe Salama, the security official added. The Gaza Health Ministry reported at least 71 people killed in the same Al-Mawasi area in Israeli strikes, with nearly 300 people injured.
Persons: CNN — Israel, Mohammed Deif, , Hamas ’, Khan Younis, Deif, Rafe Salama Organizations: CNN, Gaza Health Ministry, Nasser Locations: Gaza, Khan, Kuwait
Walking into the Chrysler Building for the first time in 2018 was a “pinch-me moment” for Sophie Smith. She was there for an interview with the theater department of Creative Artists Agency, and it would be her first job out of college. “Walking through the lobby every day was such a treat. Whenever we had guests to the office, you felt proud to work there.”That grand, Art Deco-style lobby — with its red Moroccan marble and vast Edward Trumbull ceiling mural — evokes a sense of nostalgia and glamour. Since it opened in 1930, the Chrysler Building has remained an architectural marvel that is recognizable to people who’ve never even been to New York, with its terraced crown and countless references in pop culture.
Persons: Sophie Smith, Smith, Annie ”, “ You’ll, ‘ Annie, , , Edward Trumbull, who’ve, Annie Leibovitz, David Parsons Organizations: Chrysler, Creative Artists Agency, City Locations: , New York, , , Black
CNN —A fire broke out in the spire of the cathedral in the French city of Rouen on Thursday morning. The blaze erupted at the top of the spire of the gothic Our Lady of the Assumption Cathedral in Rouen, in the northern region of Normandy. The prefecture confirmed on X that the cathedral was evacuated following the outbreak of the flames and that emergency services were working at the scene. “I turn around and I see the cathedral spire, the tarpaulin that was protecting the restoration work, which was burning, big flames, black smoke.”The construction of Rouen cathedral dates from the 12th century and it was built and rebuilt over a period of 800 years. This blaze comes five years after a massive fire broke out in the Notre Dame Cathedral in Paris, devastating large parts of the 850-year-old church.
Persons: Stéphane, Patrick Waeselynck, ’ ”, Claude Monet Organizations: CNN, Assumption, Normandy’s, Reuters, Notre Dame Cathedral Locations: French, Rouen, Normandy, Normandy’s prefecture, Oise, Paris
EU antitrust regulators on Thursday accepted commitments from Apple to allow access to its tap and go payments technology to rivals, bringing an end to a four-year investigation. "From now on, Apple can no longer use its control over the iPhone ecosystem to keep other mobile wallets out of the market. The iPhone maker now has until July 25 to implement the commitments, Vestager said. All developers will then be able to offer mobile wallets for iPhones with the tap and go technology, she explained. It added that there would be no changes to Apple Pay or the Apple Wallet following the probe.
Persons: Margrethe Vestager, Apple, Vestager Organizations: European Union, Apple, EU, European Commission, Economic Locations: Europe
ET, the yield on the 10-year Treasury was up by nearly one basis point to 4.2880%. The 2-year Treasury yield was nearly flat at 4.6304%. U.S. Treasury yields were little changed on Thursday as investors looked ahead to fresh inflation data and considered remarks from Federal Reserve Chairman Jerome Powell. Investors awaited fresh inflation insights that could provide hints about the path ahead for interest rates. The central bank has said it would not cut interest rates until data shows that inflation is sustainably easing toward this target.
Persons: Jerome Powell, Dow Jones, Powell Organizations: Treasury, U.S, Federal, Investors, CPI, Financial
The U.K.'s Financial Conduct Authority announced Thursday new rules for the country's stock market listings in a bid to boost growth following a slow down in IPOs. "They aim to support a wider range of companies to issue their shares on a UK exchange, increasing opportunities for investors," the regulator added. One key change is the removal of the 'premium' and 'standard' listing segments. Shareholder approval for key events, like reverse takeovers and decisions to take the company's shares off an exchange, is still required," the FCA said. Some rules around eligibility for listings will also change, such as the removal of a requirement for companies to provide track records of their revenue.
Organizations: Bank of England Locations: London, IPOs
Deep beneath the town hall in Arles, France, past some unassuming service counters and down several flights of narrow steps, the artist Sophie Calle has buried some things that she can’t bear to part with. This year’s edition of the Rencontres, which runs through Sept. 29, is titled “Beneath the Surface,” and Calle’s contribution takes place in a labyrinthine series of underground caverns bisected by long arched balustrades. The shadowy walkways and damp, moldy atmosphere are ideal for her project, in which she displays works from her storeroom that were damaged in a storm. Advised by restorers to destroy them, she decided instead to give them a subterranean afterlife. And so, the works are now “buried” in Arles, where they continue to decompose, but have not, at least, been forsaken.
Persons: Sophie Calle, restorers, Locations: Arles, France
“Today, I would like to announce that a settlement has been reached in the civil trial with the three perpetrators who were found guilty in the criminal trial,” Gonoi said. Authorities initially seemed unwilling to believe her but Gonoi’s refusal to be silenced eventually prompted prosecutors to reopen investigations in a sweeping probe into sexual harassment across the JSDF. The broad investigation led by Japan’s defense ministry found that Gonoi had suffered physical and verbal sexual harassment daily between late 2020 and August 2021. Not backing downAs a child, Gonoi said she saw JSDF members as heroes. The defense ministry eventually launched a broad investigation into sexual harassment across the JSDF that found Gonoi had suffered physical and verbal sexual harassment daily between late 2020 and August 2021.
Persons: Hong Kong CNN —, Rina Gonoi, ” Gonoi, Gonoi, , Yoshiaki Saito, Japan’s, Kazuhiro Nogi, Fumio Kishida, Boram Jang, “ Rina Gonoi, ” Jang Organizations: Hong Kong CNN, , Japan Self, Defense Force, NHK, CNN, Japan’s Ministry of Defense, Authorities, Getty, Japanese, Gonoi, Amnesty Locations: Tokyo, Hong Kong, Japan, Higashi, Japan’s, Miyagi, Fukushima, AFP, East Asia
The Greek government has defended its new six-day working week policy, saying it is an "exceptional measure" that would only be applied in "specific circumstances." "It is important to note that this new regulation does not in any way affect the established 5-day/40-hour working week mandated by Greek law, nor does it establish a new 6-day working week," Greek Minister of Labour and Social Security Niki Kerameus told CNBC in emailed comments late last week. "All it does is provide only in limited circumstances for the option of an additional working day, as an exceptional measure." Especially for businesses that are not operational every day, "the additional working day option is permissible only in the case of an increased workload," Kerameus explained. "Most countries in Europe have similar provisions for exceptional additional working days.
Persons: Niki Kerameus, Kerameus Organizations: Labour, Social, CNBC, Organization for Economic Cooperation, Development, European Union Locations: Athens, Greece, U.S, EU, Europe
ET, the yield on the 10-year Treasury was up by over 2 basis points at 4.289%. The 2-year Treasury yield was last at 4.628% after rising by more than 1 basis point. U.S. Treasury yields were higher on Tuesday as investors looked ahead to economic data and comments from Federal Reserve Chair Jerome Powell. Investors awaited key data points slated for the week ahead, including fresh consumer and wholesale inflation figures. Several other Fed officials are also set to give remarks throughout the week and could provide more insights.
Persons: Jerome Powell, Powell Organizations: Treasury, Federal, Investors, Federal Reserve, Banking, Financial Services Committee
ET, the yield on the 10-year Treasury was up by over 3 basis points at 4.31%. The 2-year Treasury yield also climbed more than 3 basis points to 4.633%. U.S. Treasury yields were higher on Monday as investors looked ahead to key economic data due throughout the week, including fresh inflation insights. Data released Friday showed that nonfarm payrolls increased by 206,000 in June, more than the 200,000 Dow Jones forecast. Minutes from the Fed's latest meeting published last week showed that policymakers are looking for more evidence that inflation is easing before deciding to move rates.
Persons: Dow Jones, Jerome Powell Organizations: Treasury, U.S, Federal Reserve, Dow
Macron had called for a new legislative nationwide vote in France after the country's far-right party made significant gains in the European Union election last month. The gamble that French President Emmanuel Macron took when he called a snap election has not paid off, according to Armin Steinbach, Jean Monnet professor of EU Law and economics at HEC Paris. Macron's centrist Ensemble bloc is set to make up the second-largest group in parliament, followed by the RN and its allies. Just because the far-right did not perform as they had hoped in this election does not mean they should be discounted for the presidential election in 2027, Steinbach added. "For today it's a loss for them, … but it doesn't tell us anything about the 2027 presidential election.
Persons: Macron, Steinbach, CNBC's Charlotte Reed, Emmanuel Macron, Armin Steinbach, Jean Monnet, Tina Fordham, CNBC's, Fordham, HEC's Steinbach Organizations: Popular Front, Interior Ministry, Union, EU Law, HEC Paris, Fordham Global Insight, European Union Locations: Paris, France, Steinbach
In the French Countryside, a Deep Discontent Takes Root
  + stars: | 2024-07-06 | by ( Roger Cohen | ) www.nytimes.com   time to read: +1 min
Last month, Sophie-Laurence Roy, a conservative Paris lawyer with roots in Burgundy, decided to cross the political dividing line that defined postwar France and dedicate herself to a nationalist, far-right political movement that seems poised to dominate parliamentary elections on Sunday. “I realized I would reproach myself for the rest of my life if I did not offer my services to the great movement of change that is the National Rally,” she said as she ate a sausage of pork intestines in a cafe in Chablis, the northern Burgundy town known for its fine white wine. “It was now or never.”So, on June 9, Ms. Roy, 68, deserted her longtime center-right political family, the Republicans, who trace their beliefs to the wartime hero Charles de Gaulle, to support Marine Le Pen’s far-right party whose quasi-fascist roots lie with the collaborationist Vichy regime against which De Gaulle fought to liberate France.
Persons: Sophie, Laurence Roy, , , Roy, Charles de Gaulle, De Gaulle Organizations: National, Republicans Locations: Paris, Burgundy, France, Chablis, Vichy
Treasury yields little changed ahead of key jobs report
  + stars: | 2024-07-05 | by ( Sophie Kiderlin | In | ) www.cnbc.com   time to read: +1 min
The 2-year Treasury yield was last at 4.6934% after rising by less than one basis point. U.S. Treasury yields held steady on Friday as markets reopened after the July 4 holiday and investors awaited the latest nonfarm payroll data. Key economic data is expected in form of the June jobs report on Friday. The report is expected to show that nonfarm payrolls added 200,000 jobs in June, according to economists polled by Dow Jones. Many investors are hoping that Friday's jobs data will indicate that the labor market and economy are cooling, as this could support the case for Federal Reserve interest rate cuts.
Persons: payrolls, Dow Jones, Jerome Powell, Powell Organizations: Treasury, ADP, Federal Reserve
German Chancellor Olaf Scholz smiles during a question time on July 3, 2024 at the Bundestag (lower house of parliament) in Berlin. "It is about a strong defense, a strong [German army] that offers protection from the aggressive tyrants of our time. An economic growth initiative has been planned alongside the budget, Scholz said. But the budget must then be discussed by the German parliament after its summer break, before being finalized later in the year. Negotiations have been ongoing for weeks after spending plans shared by individual ministries exceeded constraints by billions.
Persons: Olaf Scholz, Scholz, Christian Lindner, Lindner Organizations: Bundestag, CNBC, NATO, German, Reuters Locations: Berlin
The Labour party's pledge, for example, to increase taxes on the compensation that private equity fund managers received raised a few eyebrows, and led to questions on what this could mean more broadly. In a note Friday, analysts at Jefferies said, despite concerns raised by a strong showing for the right-wing Reform UK Party, the Labour Party's U.K. election win would help make the U.K. appear "relatively stable." "A widely predicted Labour win in the UK could usher in an era of greater stability for the UK … which should help bolster investor sentiment towards the UK," she said. "U.K. bank stocks in the end are one of the biggest proxies for U.K. economic growth," he said. If results are as expected, attention will shift away from the U.K. election quickly, Shreyas Gopal, strategist, and Sanjay Raja, senior economist at Deutsche Bank, said in a note published Wednesday.
Persons: Vuk Valcic, hasn't, Jefferies, James McManus, Susannah Streeter, Hargreaves Lansdown, McManus, Liz Truss, Streeter, Richard Donnell, Nutmeg's McManus, CNBC's Silvia Amaro Friday, Mark Fielding, Fielding, Shreyas Gopal, Sanjay Raja, BoE, Francesco Pesole, Pesole Organizations: City of, Labour Party, Conservatives, U.S ., Labour, CNBC, Stock, Reform UK Party, Hargreaves, Deutsche Bank, ING, Bank of England, ECB Locations: Bishopsgate, City, City of London, London, France
Mark Zuckerberg is leaning into his meme era
  + stars: | 2024-07-05 | by ( Jaures Yip | ) www.businessinsider.com   time to read: +4 min
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe memeification of Mark Zuckerberg continues — but lately, the Meta CEO seems to be just as in on the jokes. Zuckerberg surprisingly responded via Instagram Story with just the words: "Send Me Location," spurring incredulity among many. In a video announcing his company's latest AI features, Zuckerberg debuted his chain, which instantly caused a stir on social media. As another person tweeted, "Zuck definitely knows how to create a meme."
Persons: , Mark Zuckerberg, Zuck, Zuckerberg, Elon Musk, Israel Adesanva, Alexander Volkanovski, Joseph Rosenfeld, ORb48fArvU — sophie, @netcapgirl, Rosenfeld Organizations: Service, Business, Facebook, Tesla, MMA Locations: America, Zuck's
CNN —Hezbollah said that it fired more than 200 missiles at Israeli military sites in retaliation for the killing of one of its senior commanders in southern Lebanon. “Together, they served as two of the most significant Hezbollah terrorists in southern Lebanon,” the IDF said. In response to the killing, Hezbollah on Thursday said it had launched “more than 200 missiles of various types” at Israeli targets. The Israeli military said that it intercepted some of those Hezbollah missiles, as well as drones. In response to those strikes, the IDF said their fighter jets have struck Hezbollah targets in southern Lebanon overnight Wednesday into Thursday.
Persons: Muhammed Neamah Naser, , Sami Taleb Abdullah, Naser, Gil Eliyahu Organizations: CNN, Hezbollah’s, Israel Defense Forces, IDF Locations: Lebanon, Gaza, Israel, Golan, Iran
But, like many child-free women, they'd prefer if the conversation at gatherings wasn't always focused on babies and weddings. "How do you meet people your age if you don't have kids and you don't meet people through that group?" At the first Women Who Walk event in September 2023, 80 women showed up. In the US in 2022, there were 21.9 million women aged between 20 and 39 who did not have children, which is 4.7 million more women than anticipated, according to the Carsey School of Public Policy. For this reason, Curthoys and Collins never expected the women who joined up to be so vulnerable immediately.
Persons: , Lisa Collins, Sophie Curthoys, Collins, everyone's, That's, Curthoys, it's, Gen Zers Organizations: Service, Business, US National Center for Health Statistics, Carsey School of Public, BI, WSJ Locations: St Albans, Guildford, Brighton
CNN —Eyewitnesses have recounted scenes of chaos and confusion after a religious festival in northern India ended in tragedy when scores of people were killed in a crowd crush. At least 121 people died – almost all of them women – and 35 others were injured when overcrowding at a sermon in Mughal Garhi village in Uttar Pradesh led to the deadly crush on Tuesday. Speaking to CNN from a local hospital, a security guard named Subhash Lal said his mother had died in the crush. Ritesh Shukla/Getty ImagesPersonal belongings of victims who died in the crush are seen scattered at the venue in Uttar Pradesh. “I was told to go to the district hospital and here I found her body.”Uttar Pradesh has launched a special investigative team to probe the deadly crowd crush, the state’s chief minister announced on Wednesday.
Persons: , Bhole Baba, godman, Subhash Lal, , ” Lal, Ritesh Shukla, Kamala, Rekha, , Yogi Adityanath, Adityanath, Anushree Fadnavis, Bhole Baba –, Suraj Pal – Organizations: CNN, . Police, Reuters, Reuters Police Locations: India, Garhi, Uttar Pradesh, Uttar Pradesh’s, Hathras district, Anushree
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