DIRS.INFO The most relevant business & tech news

☆ European markets set for choppy open as growth concerns return
▼ + stars: | 2024-09-24 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

Tourists take pictures under the rain in front of the Eiffel Tower in Paris. LONDON — European stocks are expected to open in mixed territory Tuesday as economic uncertainty and concerns over Europe's growth outlook return to the fore. The U.K.'s FTSE index is expected to open 4 points higher at 8,253, Germany's DAX up 23 points at 18,852, France's CAC 40 up 19 points at 7,518 and Italy's FTSE MIB 16 points higher at 33,610, according to data from IG. Market participants will be keeping an eye on shares of Commerzbank Tuesday after the stock fell around 5.7% Monday after German Chancellor Olaf Scholz criticized what he described as UniCredit's "hostile" and "unfriendly" move on the bank, Reuters reported. His comments came shortly after Italy's UniCredit announced it had increased its stake in the German lender to around 21% and submitted a request to boost the holding to up to 29.9%, signaling a takeover bid might be on the cards.

Persons: Germany's DAX, Olaf Scholz, Italy's UniCredit Organizations: Eiffel, LONDON, CAC, IG, Reuters Locations: Paris

☆ UK Prime Minister Keir Starmer says tough times are needed to spark national renewal
▼ + stars: | 2024-09-24 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +5 min

Prime Minister Sir Keir Starmer during an 'In Conversation' event with Debbie Weinstein, managing Director Goole UK&I during the Labour Party Conference at the ACC Liverpool. Liverpool, ENGLAND — U.K. Prime Minister Keir Starmer insisted on Tuesday that tough decisions taken now will spark a new era for Britain, as he sought to shake a fog of pessimism that has clouded his new premiership. "Change must mean nothing less than national renewal," he told a crowd of Labour Party delegates Tuesday. Wes Streeting, minister for health and social care, said that promised improvements to the U.K.'s National Health Service (NHS) would take time to implement. We need to rebuild the economy, rebuild public services and rebuild trust in politics," he said at the conference Monday.

Persons: Sir Keir Starmer, Debbie Weinstein, Keir Starmer, Starmer, Jeremy Corbyn, Rachel Reeves, Reeves, Wes Streeting, Tulip Siddiq Organizations: Goole, Labour Party Conference, ACC Liverpool, Labour Party, Conservative, Wealth Fund, Finance, National Health Service, Treasury, Labour, CNBC, Conservative Party Locations: Liverpool, ENGLAND, Britain, England

☆ CNBC Pro Talks: After the Fed cuts rates, one fund manager will reveal where to invest right now
▼ + stars: | 2024-09-24 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +3 min

After the U.S. Federal Reserve cut interest rates by a bumper 50 basis points , investors have been left wondering whether growth or value stocks are the best bet. On CNBC's upcoming Pro Talks , Silvia Amaro will ask value investor Sean Peche where he sees opportunities in the current market. Peche is portfolio manager at the U.K.-based Ranmore Fund Management and manages its $329 million Ranmore Global Equity Fund . As of Aug. 31, the Ranmore Global Equity Fund has returned 21.6% over the last year, underperforming its benchmark MSCI World Index's 24.4%. CNBC Pro subscribers can watch Pro Talks live on Wednesday, Sept. 25, at 7 a.m.

Persons: Silvia Amaro, Sean Peche, He'll, Warren Buffett, Eli Lilly, ager, CNBC's Silvia Amaro Organizations: U.S . Federal Reserve, Ranmore Fund Management, Global Equity Fund, Investors, Ranmore, Equity, Petrobras, Baidu, ABN Amro, Ranmore Global Equity Fund, Decillion Fund Management, Orbis Investment Advisory, CNBC, Beyond Locations: Carrefour, China, U.S, London

☆ OpenAI just launched advanced voice mode for audio chats with ChatGPT. Here's how to use it
▼ + stars: | 2024-09-24 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

OpenAI said Tuesday that its popular chatbot now has an advanced voice feature for people who pay for the premium service. Legal counsel working on behalf of Johansson sent OpenAI letters claiming the company didn't have the right to use the near-identical voice, and OpenAI paused using it in its products, CNBC reported. OpenAI got a head start in the generative AI chatbot market, when it launched ChatGPT in late 2022. The advanced mode is only available to those with subscriptions to OpenAI's Plus, Team or Enterprise plans. The most affordable option is the Plus tier at $20 per month.

Persons: ChatGPT, OpenAI, it's, Scarlett Johansson, Johansson, Sam Altman, OpenAI's, It's Organizations: OpenAI, CNBC, Microsoft, Google, Reuters, Meta, Facebook, Enterprise Locations: Iceland, Liechtenstein, Norway, Switzerland

☆ Op-ed: The UK's budget problems date back to the 2008 financial crisis
▼ + stars: | 2024-09-24 | by ( Kevin Klowden | Chief Global Strategist At The Milken Institute | ) www.cnbc.com time to read: +2 min

Over the past few weeks, economic news from the U.K. has heavily focused on the state of British national finances and how they might impact both the British public and the prospects for economic growth. Regardless of how the U.K. fiscal situation stands now, it is clear that the current shortfalls are both years in the making and run the risk of having consequences that could last for years to come. The ultimate dilemma facing Labour now is that the country cannot produce enough revenue to close systemic shortfalls without sustained economic growth, but it also cannot create economic growth without real investment, both from the public and private sectors. In many ways, the current fiscal situation dates back to the financial crisis of 2008 and the fact that the country's economy was unable to snap back readily to close the budget shortfalls that occurred then. Borrowing in the financial year to August stood at £64.1 billion ($85 billion), with the country's debt hitting 100% of GDP.

Persons: Keir Starmer, John Healey, George Robertson, Rachel Reeves, Jeremy Hunt Organizations: British, Defence, Downing, Labour, Conservative Locations: London, England, British, United States, China, Japan

☆ These outperforming stocks are still set to soar, analysts say — giving 3 more than 30% upside
▼ + stars: | 2024-09-24 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

September is a historically weak month for stocks, but the first U.S. Federal Reserve rate cut in four years meant that markets have mostly bucked the trend so far. The S & P 500 has risen around 1% month-to-date, and jumped about 8% since the end of June when stocks went through much volatility. But risks such as the U.S. election, inflation and geopolitical conditions raise the question of what the path ahead will be like for stocks. "In my view, the banking sector could win ... as should solid growth stocks – at reasonable valuations – in the healthcare and software sectors," he added. Valuations in the U.S. market look "less demanding" — if you exclude Big Tech, mega-growth stocks, which are dragging up the overall price-to-earnings multiple of the S & P 500, Webber added.

Persons: David Bianco, Simon Webber, Schroders, Webber Organizations: U.S . Federal, Equity, Big Tech, CNBC Pro Locations: DWS, U.S

☆ TikTok removes Russian state media outlets RT and Sputnik, citing 'covert influence operations'
▼ + stars: | 2024-09-23 | by ( David Ingram | David Ingram Is A Tech Reporter For Nbc News. | ) www.nbcnews.com time to read: +2 min

TikTok said Monday it had removed accounts belonging to Russian state media outlets RT and Sputnik for engaging in what TikTok called “covert influence operations.”The social video app said in a statement on its website that it removed accounts associated with TV-Novosti and Rossiya Segodnya, the parent organizations of the RT television network and the Russian news agency Sputnik. The suspensions follow the Biden administration’s accusations this month that RT acts as an arm of Moscow’s spy agencies. Social media rivals Meta and YouTube have announced similar suspensions of Russian state media accounts, although other tech companies such as X have left up RT and Sputnik accounts. RT and Sputnik both published reports over the weekend saying that some of their accounts had been deleted without explanation. Secretary of State Antony Blinken said this month that he believed Russian outlets such as RT had moved beyond working as media outlets and had turned into covert intelligence operations.

Persons: TikTok, Rossiya Segodnya, ’, ” Sputnik, Antony Blinken, Margarita Simonyan, ” Organizations: Sputnik, Novosti, NBC News, Biden, Social, Meta, YouTube, RT, Federal, “, Reuters Locations: Russian, Russia, U.S, United States of America, Mexico

☆ GM’s EV sales momentum is finally building as new vehicle lineup fills out
▼ + stars: | 2024-09-23 | by ( Michael Wayland | ) www.nbcnews.com time to read: +7 min

While GM has withdrawn most of its previously announced electric vehicle targets, the automaker believes its EV sales momentum is finally building thanks to an expanding lineup of all-electric vehicles — spanning a price range of roughly $35,000 to more than $300,000. GM sold nearly 21,000 EVs in the U.S. in July and August — almost matching its full second-quarter EV sales. GM’s EV sales through August were up about 70% compared with a year earlier. It still remained more than 20,000 units shy of Hyundai/Kia EV sales through last month. Growing EV lineupGrowing EV lineupGM currently offers eight “Ultium-based” EVs for consumers — referring to its electric vehicle architecture and battery technologies.

Persons: WARREN, Mary Barra, Elon Musk’s, ” Rory Harvey, “, ” Harvey, GM’s, Tesla, Harvey, ”, Stephanie Brinley, ” Brinley, EVs, ” “, ‘ Butts, Barra, carmaker Organizations: General Motors, Detroit, U.S, GM, Elon Musk’s carmaker, Hyundai, Kia, Ford, CNBC, Detroit automaker, Motor Intelligence, EV, P, ” Cox Automotive Locations: Mich, North America, U.S, Detroit, Barra, U.K, ”, EVs

☆ European stocks poised to start the week positively as markets remain buoyed by Fed cut
▼ + stars: | 2024-09-23 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

LONDON — European stocks are expected to start the week in positive territory as global markets continue to react positively to the U.S. Federal Reserve's interest rate cut last week. The U.K.'s FTSE index is seen opening 46 points higher at 8,245, Germany's DAX up 87 points at 18,810, France's CAC 40 up 40 points at 7,359 and Italy's FTSE MIB up 169 points at 33,821, according to data from IG. Global markets continue to trade higher following the Fed's 50-basis-point cut last week, its first cut in four years. Asia-Pacific markets were mostly higher overnight as investors digested monetary policy decisions from Japan and China as well as the Fed's sharp cut. Dow futures were near flat Sunday night after enthusiasm for last week's interest rate cut propelled the blue-chip index to a record closing level.

Persons: Germany's DAX Organizations: U.S, CAC, IG, Global, Dow Locations: U.S . Federal, Asia, Pacific, Japan, China

☆ Luxury stocks slip as fears grow of a prolonged downturn
▼ + stars: | 2024-09-23 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Bloomberg | Bloomberg | Getty ImagesLONDON — European luxury stocks tumbled on Monday as analysts warned of a deteriorating demand outlook, particularly among high-spending Chinese consumers. "Following the post-Covid peak in consumption in 2022, luxury sector revenues have been sequentially slowing. Across European luxury firms, they expect a 1% revenue decline in 2024. The Stoxx Europe Luxury 10, an index tracking top names in the sector, managed to hold flat but has fallen 3.82% in the year to date. 'Prolonged period of weakness'They're not alone in their bearish view on Europe's luxury sector.

Persons: Hugo Boss, Germany's Hugo Boss, Burberry, Kering, Hermes, Jon Cox, Kepler Cheuvreux, CNBC's, Cox Organizations: Hugo, Hugo Boss AG, Bloomberg, Getty, Bank of America, Korean, BofA Securities, Kepler, U.S, CNBC, Burberry Locations: Shanghai, China, American, Europe

☆ GM's EV sales momentum is finally building as new vehicle lineup fills out
▼ + stars: | 2024-09-23 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

While GM has withdrawn most of its previously announced electric vehicle targets, the automaker believes its EV sales momentum is finally building thanks to an expanding lineup of all-electric vehicles – spanning a price range of roughly $35,000 to more than $300,000. EV sales data provided to CNBC by the Detroit automaker, which publicly reports sales quarterly, shows a notable increase for GM through August. GM sold nearly 21,000 EVs in the U.S. in July and August – almost matching its full second-quarter EV sales. GM's EV sales through August were up about 70% compared with a year earlier. It still remained more than 20,000 units shy of Hyundai/Kia EV sales through last month.

Persons: Mary Barra, Frederic J, Brown, Elon Musk's, Rory Harvey, Harvey, GM's, Tesla, Stephanie Brinley, Michael Wayland, Brinley, EVs, Scott Mlyn, Butts, Barra, carmaker Organizations: Cadillac, AFP, Getty, WARREN, General Motors, Detroit, U.S, GM, Elon Musk's carmaker, Hyundai, Kia, Ford, CNBC, Detroit automaker, Motor Intelligence, EV, P, Cox, Electric Locations: Los Angeles, Mich, North America, U.S, Detroit, Barra, U.K

☆ Australia's REA sweetens takeover offer for Britain's Rightmove to $8.1 billion
▼ + stars: | 2024-09-23 | by ( ) www.cnbc.com time to read: +1 min

Australian property listing firm REA Group has made a third pitch to buy British rival Rightmove with a new 6.1 billion pound ($8.12 billion) offer on Monday after its two previous offers were rejected. The latest offer consists of 341 pence in cash and 0.0422 new REA shares giving Rightmove an implied value of 770 pence per share. Rightmove did not immediately respond to a request for comment on the new non-binding bid outside normal U.K. business hours. The REA offer put forward on Monday is higher than the initial offer of 705 pence per share, or 5.6 billion pounds, and the second proposal of 749 pence per share. REA said it had not had any "substantive engagement" with Rightmove, except for the rejections, and that it remained ready to engage immediately with the Rightmove board.

Persons: REA, Rightmove Organizations: REA, Rupert Murdoch's News Corp

☆ A stunning sterling rally is about to collide with Britain's political realities
▼ + stars: | 2024-09-23 | by ( Jenni Reid | ) www.cnbc.com time to read: +4 min

Sterling breached $1.33 against the greenback for the first time since March 2022 on Thursday, and was trading at $1.3315 early London time Monday. The pound's rally was tied to the BOE communication and "looks fully justified," Chris Turner, global head of markets at ING, said in a Friday note. Higher rates are traditionally a positive for a domestic currency as the higher yield can attract more foreign capital. watch nowGabriella Dickens, G7 economist at AXA Investment Managers, also cautioned on the pound's outlook in a note Thursday. If the government is more stringent on fiscal policy, we think the Bank will be forced to increase the pace of the cutting cycle to offset the hit on both households' and businesses' finances."

Persons: Keir Starmer, BOE, Chris Turner, Turner, Jane Foley, Gabriella Dickens, Dickens Organizations: Bank of England, Labour, Sterling, greenback, London, ING, Fed, U.K, European Union, Rabobank London, CNBC, AXA Investment, Bank, quicken Locations: Britain, –

☆ Britain's finance minister calls for spending discipline but no return to austerity
▼ + stars: | 2024-09-23 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Britain's Chancellor of the Exchequer Rachel Reeves speaks on the second day of the annual Labour Party conference in Liverpool, north-west England, on September 23, 2024. Liverpool, ENGLAND — U.K. Finance Minister Rachel Reeves vowed on Monday that Britain will not return to austerity, but said she would make hard choices as she lays out budget proposals next month. "It will be a budget with real ambition ... a budget to deliver the change we promised. A budget to rebuild Britain," she told a crowd of Labour party delegates Monday. Reeves has suggested that taxes are likely to rise at her upcoming Oct. 30 Autumn budget after discovering a £22 billion ($29 billion) "black hole" in the public finances.

Persons: Rachel Reeves, heckles, Keir Starmer, Reeves, Jeremy Hunt Organizations: Labour Party, Finance, Labour, Conservative Party, Conservatives Locations: Liverpool, England, ENGLAND, Britain

☆ Women accuse former Harrods boss Al Fayed of sexual abuse: ‘I was just terrified’
▼ + stars: | 2024-09-20 | by ( Daniele Hamamdjian | Bill O'Reilly | Daniele Hamamdjian Is An Nbc Foreign Correspondent Based In London. | ) www.nbcnews.com time to read: +11 min

The first red flag Stone recalls while working for Al Fayed was him giving her a tight hug. NBC News“I was a bit like, Ooh, you know, that’s weird, but maybe that’s his culture, I don’t know,” Stone said. A fictionalized version of their relationship was depicted in the Netflix series last year, and included a warm and sympathetic portrayal of Al Fayed. “The allegations against Mohamed Al Fayed include serial rape, attempted rape, sexual battery, sexual abuse of minors. I was going through this sort of hell.”Stone struggled to explain the hold Al Fayed had on her and other female staffers.

Persons: Mohammed Al Fayed, “ Papa, Al Fayed, ”, Gloria Allred, “ Al Fayed, Natacha, Maria Mulla, Mohamed Al Fayed, Yui Mok, Sophia Stone, Al Fayed’s, Stone, ” Stone, “, London . Stone, he'd, Mohamed Al, Fayed, Paul Ellis, Princess Diana, Dodi, Allred, Eamon Coyle, “ Mohamed, Keaton Stone, ” Sophia Stone, you’ll Organizations: NBC News, Harrods, Netflix, NBC, London ., Bois, Boulogne, Getty, Britain’s, BBC, U.S Locations: American, London, Harrods, Al, Paris, Scotland

☆ ‘The Boyfriend,’ Japan’s first same-sex reality show, hopes to normalize LGBTQ romance in the country
▼ + stars: | 2024-09-20 | by ( ) www.nbcnews.com time to read: +6 min

The untroubled July arrival of the country’s first same-sex dating reality show, “The Boyfriend,” on streamer Netflix, may be another sign that normalization of queerness in Japan is on the way. “It’s no different from the familiar reality shows we’ve seen before. The only thing that felt odd or questionable was that, while there have been plenty of heterosexual reality shows, there have been so few featuring same-sex couples, and none in Japan,” casting director Taiki told Variety. The commentators included central host Megumi, an entertainer; drag queen Durian Lollobrigida; Tokui Yoshimi, a veteran of previous reality shows including “Terrace House”; Horan Chiaki; and style diva Thelma Aoyama. “As this was Japan’s first romance reality show featuring male same-sex relationships, it was crucial to have someone from that community in the studio,” Lollobrigida told Variety.

Persons: “, we’ve, ”, Taiki, Dai, Shun, Taehon, inoffensively, Roche, Kimura Hana, Hishida Keisuke, Ota Dai, Durian Lollobrigida, Tokui, Horan Chiaki, Thelma Aoyama, ” Lollobrigida, …, Kitano Takeshi, they’re, ’ Organizations: Netflix, New York Times, Fuji Television, Kyodo Television, Netflix Japan, “, Tokyo Locations: Japan, East Asia, Shinjuku Ni, “ Terrace

☆ Britain's ultra-wealthy are threatening to exit en masse ahead of proposed tax changes
▼ + stars: | 2024-09-20 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +9 min

They're just a few of the destinations trying to lure away the U.K.'s uber wealthy ahead of proposed changes to the country's divisive non-dom tax regime. They will also be prevented from avoiding inheritance tax on assets held in trust. The majority (83%) cited inheritance tax on their worldwide assets as their key motivator for leaving, while 65% also referenced changes to income and capital gains tax. Where the wealthy are movingIt comes as other countries are shaking up their tax regimes to incentivize wealthy investors. Ultra-wealthy U.K. citizens, who are typically highly active in the super-prime market, are also in "wait and see" mode ahead of possible changes to capital gains and inheritance tax.

Persons: Keir Starmer, Rachel Reeves, Macleod, Miller, they'll, Leslie Macleod, Helena Moyas de Forton, Moyas de Forton, Labour's, Alexander Spatari, I'm, Marcus Meijer, Mark, CNBC's, it's, James Myers, Oliver James, Myers, Knight Frank, Stuart Bailey, Knight Frank's, they're, Bailey Organizations: Old Bond, Pawel, Bank, Getty, Labour, Oxford Economics, Conservative, Investors, Britain, CNBC, Treasury, EMEA, Christie's, Estate, Henley & Partners, Monaco, London, Istock Locations: Old, Mayfair, London, United Kingdom, Monaco, Italy, Switzerland, Dubai, They're, Britain, Greece, Malta, Caribbean, Bahamas, Monte Carlo, Gibraltar, South Kensington, England

☆ Deutsche Bank Research discusses outlook for BOE rates
▼ + stars: | 2024-09-20 | 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 EmailDeutsche Bank Research discusses outlook for BOE ratesSanjay Raja, chief U.K. economist at Deutsche Bank, discusses the outlook for the Bank of England's interest rates.

Persons: BOE, Sanjay Raja Organizations: Deutsche Bank Research, Deutsche Bank, Bank of

☆ European markets set to open lower following slew of central bank decisions
▼ + stars: | 2024-09-20 | by ( Karen Gilchrist | ) www.cnbc.com time to read: 1 min

Shoppers on the high street in the Kingston district of London, U.K.LONDON — European markets were poised to open lower Friday as investors digested a slew of central bank rate decisions this week and their impact on the global economy. The U.K.'s FTSE 100 was seen opening 41 points lower at 8,291, Germany's DAX down 59 points at 18,939, France's CAC 2 points lower at 7,604 and Italy's FTSE MIB down 124 points at 33,913, according to IG data. The regional Stoxx 600 closed higher Thursday, after the U.K.'s Bank of England and Norway's Norges Bank both held rates steady, drawing a contrast with the U.S. Federal Reserve's bumper rate cut a day prior.

Persons: Germany's DAX Organizations: LONDON, CAC, Bank of England, Norway's Norges Bank, U.S Locations: Kingston, London, U.S . Federal

☆ UK faces ultra-wealthy exodus amid non-dom tax changes
▼ + stars: | 2024-09-20 | by ( Karen Gilchrist | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUK faces ultra-wealthy exodus amid non-dom tax changesCNBC's Karen Gilchrist explains how plans to abolish the U.K.'s non-dom tax concession could spark an exodus of the ultra-wealthy.

Persons: Karen Gilchrist

☆ Companies face risk of huge fines and suspensions under tough new cyber rules in the EU
▼ + stars: | 2024-09-20 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

The rules impose tougher requirements on companies around their internal cyber resilience strategy and internal practices. CNBC runs through all you need to know about NIS 2 — from what the law requires to the potential penalties businesses could face for violations. Under NIS 2, firms will also have to vet their digital supply chains for cyber threats and vulnerabilities. Companies that fail to comply with the new law could face massive potential fines, along with other punitive actions. Still, even with cyber security a much more prominent focus in board rooms, this hasn't stopped cyberattacks from taking place.

Persons: Oscar Wong, Geert van der Linden, Van der Linden, It's, Chris Gow, Carl Leonard, Leonard, Cisco's Gow, CISO, cyberattacks, Gow Organizations: European Union, NIS, CNBC, Information, EU, Companies, noncompliance, Data, Union Locations: EU, Capgemini, Russian

Surveys indicate that health care is among the top priorities for voters in the November presidential election. Former President Donald Trump has given little detail about his health care vision; his running mate, JD Vance, has suggested deregulation. Each country was graded on five categories: access to care, care process, administrative efficiency, equity and health outcomes. “For far too many people, high-quality medical care is out of reach.”Dr. Adam Gaffney, a critical care physician at the Cambridge Health Alliance in Massachusetts, pointed out that the U.S. differs from the other countries in one critical area: universal health care coverage. Thursday’s report also listed solutions to the country’s health care problems, including lowering the cost of care and expanding access to coverage.

Persons: Kamala Harris, Donald Trump, JD Vance, ” Dr, Joseph Betancourt, David Blumenthal, “, ”, ” Blumenthal, Lawrence Gostin, Gostin, ” Gostin, Dr, Adam Gaffney, ” Gaffney, Reginald Williams II Organizations: U.S, Commonwealth Fund, Affordable, Australia, New, Centers for Disease Control, O’Neill Institute for National, Global Health Law, Georgetown University, United, Cambridge Health Alliance, Fund, International Health Locations: U.S, United States, Australia, Canada, France, Germany, Netherlands, New Zealand, Sweden, Switzerland, United Kingdom, Massachusetts

☆ European markets set to open higher following Fed cut; Bank of England rate decision in focus
▼ + stars: | 2024-09-19 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Bank of England in the City of London as economists and mortgage holders await this week's interest rate announcement on 28th July 2024 in London, United Kingdom. LONDON — European markets were poised to open higher as investors digested the U.S. Federal Reserve's first interest rate cut in four years and looked ahead to the Bank of England's rate decision later in the session. Back in Europe, investor attention is now turning to the Bank of England, with the central bank largely expected to hold rates steady at 5%. The Fed's jumbo rate cut is unlikely to impact the Bank of England, according to economists, as the central bank ratified its decision around lunchtime Wednesday, hours before the U.S. announcement. Also on Thursday, Norway's central bank will deliver its latest interest rate decision.

Persons: Germany's DAX, Tiina Lee, CNBC's Organizations: of England, City of, LONDON, . Federal, Bank of, FTSE, France's CAC, Fed, Bank of England, Citi UK Locations: City, City of London, London, United Kingdom, ., Trading, Asia, Europe, U.S, Norway's

☆ 'We can’t allow the cultural infrastructure to literally crumble': One of London's most popular arts attractions needs a $200 million fix
▼ + stars: | 2024-09-19 | by ( Lucy Handley | In | ) www.cnbc.com time to read: +7 min

The exterior of the Hayward Gallery, part of the Southbank Centre. "We can't allow the cultural infrastructure to literally crumble in our hands, because ... without investment, it won't be here," Ball told CNBC. (The neighboring National Theatre and British Film Institute Southbank are not part of the Southbank Centre.) During his first year at the Southbank Centre, he oversaw more than 5,400 events and shows. "Thinking Fountains," an installation by German artist Klaus Weber, outside the Hayward Gallery at the Southbank Centre.

Persons: Norman Engleback, Michelle Obama, Anish Kapoor, Tracey Emin, Nina Simone, Elaine Bedell, Mark Ball, —, Ball, Queen Elizabeth Hall, Purcell, Jack Taylor, Lisa Nandy's, it's, Richard III, Antony Sher, Antony, Gilbert Prousch, George Passmore, Gilbert, George, Marina Abramovic, Elizabeth Hall, Daniel Leal, Igor Levit, Cillian Murphy, Klaus Weber Organizations: Hayward, Southbank Centre, Universal, Getty, Southbank, Conservative, Labour, CNBC, Royal Festival Hall, Queen, National Theatre, British Film Institute, Former U.S, Royal, Hall, Manchester International, Association of, of Britain, Apple, London's Southbank, Ball, Science and Industry, Royal Shakespeare Company, AFP, Artists, Royal Philharmonic Orchestra Locations: London, Manchester, Serbian

☆ Bank of England holds interest rates steady after August cut
▼ + stars: | 2024-09-19 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Commuters cycles past the Bank of England (BOE), left, in the City of London, UK, on Monday, Sept. 16, 2024. The central bank's Monetary Policy Committee's interest rate decision is scheduled for release on Sept. 19. LONDON — The Bank of England on Thursday said it would hold interest rates steady following its initial cut in August, even after the U.S. Federal Reserve opted for a jumbo rate cut the day before. The Monetary Policy Committee voted by 8 to 1 to hold, with the dissenting member voting for a 0.25 percentage point cut. Many strategists had expected a smaller 25 basis point cut at the September meeting, despite market pricing through this week pointing to more than 50% probability of the more aggressive option.

Persons: BOE Organizations: Bank of England, City of, LONDON, U.S . Federal, Monetary, U.S . Federal Reserve Locations: City, City of London, U.K

Search resuls for: "U.K"

25 mentions found