Your Saturday UK Briefing: FTSE at a Record as Sunak Completes 100 Days
Synopsis by Bloomberg Feb 04 23
As Conservatives trail in the polls, Prime Minister Rishi Sunak searches for a successor to Nadhim Zahawi as the ruling party’s chairman.Read full article 
Metro.co.uk: Rishi Sunak 'plans to ban Channel migrants from appealing deportation'
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| Last Updated | Feb 05 23 |
| Total Articles | 10 |
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Your Saturday UK Briefing: FTSE at a Record as Sunak Completes 100 Days: Follow us at @BloombergUK and on Facebook, and wrap up your day with The Readout ...
bloomberg.com/news/articles/2023-02-04/your-saturday-uk-briefing-ftse-record-rishi-sunak-at-100-days
Sunak’s First 100 Days Were Hit by Strikes and Scandal. Now What?: The hard work is only beginning for the UK prime minister.
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Sunak’s Tories Have a £25 Million Black Hole to Fill as Donors Flee: As Conservatives trail in the polls, Prime Minister Rishi Sunak searches for a successor to ...
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Your Saturday UK Briefing: FTSE at a Record as Sunak Completes 100 Days: Follow us at @BloombergUK and on Facebook, and wrap up your day with The Readout ...
bloomberg.com/news/articles/2023-02-04/your-saturday-uk-briefing-ftse-record-rishi-sunak-at-100-days
Sunak’s First 100 Days Were Hit by Strikes and Scandal. Now What?: The hard work is only beginning for the UK prime minister.
bloomberg.com/news/features/2023-02-02/rishi-sunak-s-100-days-brexit-uk-economy-strikes-taxes-and-boris-johnson
Sunak’s Tories Have a £25 Million Black Hole to Fill as Donors Flee: As Conservatives trail in the polls, Prime Minister Rishi Sunak searches for a successor to ...
bloomberg.com/news/articles/2023-02-04/rishi-sunak-s-uk-tories-seek-25-million-as-donor-exodus-leaves-black-hole
A Tory civil war over Brexit and small boats is looming, with Boris Johnson likely to wade in
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Strikes will make it harder to rebuild NHS, say health leaders: Escalating strikes are putting the recovery of the NHS is at risk, health leaders have warned ...
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US to grow at double the rate of G7 peers this year, says IMF: Fund also upgrades inflation forecasts as strong demand and tight labour market delay possible Fed ...
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Quick Glance: IMF upgrades global growth forecast despite risks
- The International Monetary Fund slightly raised its global growth forecast on Tuesday, noting that the economy had proven 'surprisingly resilient' despite inflationary pressures and monetary policy shifts.
- IMF's chief economist, Pierre-Olivier Gourinchas, indicated that the global economy is heading for a 'soft landing,' with risks to the outlook now broadly balanced.
- While advanced economies are expected to lead the growth, dim prospects in China and other major emerging markets could impact global trade partners, according to the report.
- Despite Tuesday's brighter outlook, global growth remains low compared to historical standards, partly due to weak productivity growth and increasing geopolitical fragmentation.
Brazil seeks to weaken fiscal targets it set only a year ago: Leftist administration of Luiz Inácio Lula da Silva wants greater flexibility on budget surplus ...
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Quick Glance: Brazil Moves to Relax Fiscal Targets Set a Year Ago
- The leftist administration of Luiz Inácio Lula da Silva wants more flexibility on budget surplus goals
- Brazilian President Luiz Inácio Lula da Silva’s government is seeking to loosen its own budget targets as investor concerns rise about the risk of fiscal slippage in Latin America’s largest economy
- Ministers intend to balance the budget next year, replacing the previous goal for income to exceed outgoings by 0.5 per cent of gross domestic product
- Analysts warn that the current deficit targets are unrealistic and likely to be tweaked, prompting investors to express concerns about Brazil’s economic approach under Lula
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Quick Glance: Prince Harry Officially Residing in U.S.
- Prince Harry and his wife Meghan have considered California home, and now his official residency in the U.S. has been documented in a corporate filing.
- The document was filed at Britain’s corporate registrar, Companies House, to update the official residency of the British royal for business records of Travalyst Limited.
- There had been little official confirmation of Harry’s residency status until this week, with an entry indicating a change of residency to June 29, 2023, the day the couple left Frogmore Cottage, their British home.
- It is unclear what type of U.S. visa or residency permit Harry holds, despite efforts by conservative activists in the U.S. to ascertain them, including an ongoing lawsuit.
Netanyahu too ‘busy’ to talk to Sunak after RAF helped repel Iranian attack: Israeli leader faces domestic pressure to rebuff international calls for restraint
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Quick Glance: Netanyahu's Busy Schedule Hinders Communication with Sunak Post-RAF Assistance Against Iranian Attack
- Israeli Prime Minister Benjamin Netanyahu has not yet managed to engage in a conversation with UK Prime Minister Rishi Sunak following the assistance provided by Royal Air Force warplanes in defending the Jewish state from an Iranian aerial assault.
- Efforts are still underway to arrange a discussion between the two leaders, as Netanyahu is under significant domestic pressure to reject calls from the UK, the US, and the EU for restraint after Iran's attack.
- Sunak stated in the House of Commons on Monday that the UK is urgently collaborating with allies to de-escalate the situation and prevent further bloodshed, mentioning that he will communicate with Netanyahu 'shortly'.
- With Netanyahu's right-wing coalition partners pushing for substantial retaliation against Iran, Israel's western allies are advocating for caution and restraint to prevent a regional conflict.
US deficit poses ‘significant risks’ to global economy, warns IMF: Fund also cites concerns over fiscal ‘imbalances’ in UK, China and Italy
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Quick Glance: IMF Warns of Fiscal Deficits in US and China
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- Concerns were also raised about Chinese government debt, with the country projected to have a deficit of 7.6 per cent in 2025, more than double the average for other emerging markets.
- In addition to the US and China, the fund named two more countries that “critically need to take policy action to address fundamental imbalances between spending and revenues”.
- The IMF noted that “large and sudden increases” in US borrowing costs typically lead to surges in government bond yields globally and exchange rate turbulence in emerging markets and developing economies.
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UK inflation falls less than expected to 3.2% in March: Rate continues to drop but economists had forecast a decline to 3.1%
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- Powell mentioned that the current policy should remain in place as inflation has not declined quickly enough and there has been no further progress towards the 2% goal.
- Since July 2023, the Fed has maintained its benchmark interest rate in a target range between 5.25% and 5.5%, the result of 11 consecutive rate hikes.
- Financial markets have had to adjust their expectations for rate cuts this year as inflation has been higher than expected, and the Fed's policy continues to be dependent on data.
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- The bill, announced by Sunak, would make it illegal to sell tobacco products to anyone born after January 1, 2009, creating one of the toughest anti-smoking measures in the world to establish the 'first smoke-free generation' in modern Britain.
- The bill also includes measures to crack down on youth vaping, such as banning the sale of cheap disposable vapes and restricting their flavors to prevent children from becoming addicted to nicotine.
- The number of people who smoke in the U.K. has declined by two-thirds since the 1970s, but approximately 6.4 million people in the country still smoke, accounting for about 13% of the population. Smoking remains the number one preventable cause of death, disability, and poor health.
Liz Truss: The world was safer under Trump: Former PM Liz Truss says she hopes Donald Trump wins the next US election.
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Warwick Davis' wife Samantha dies aged 53: Samantha Davis, who co-founded the charity Little People UK, has died
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- Samantha, described by Warwick as his 'soulmate' and 'favorite human,' passed away on March 24, as announced by Lucasfilm in an emotional statement.
- Warwick emphasized his wife's caring spirit and community involvement as they co-founded the Little People U.K. charity together.
- Together, they leave behind two children, Annabelle and Harrison, who honor their mother as their best friend and a source of love and happiness.
Britain’s Retail Sales Disappoint in Sign of Lackluster Recovery: UK retail sales stalled unexpectedly in March after shoppers scaled back spending on food and ...
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PIP payment to be overhauled as Sunak shakes up the benefits system: Rishi Sunak has announced a major review of how Britain's disability benefits system ...
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Cocoa hits record high as global shortage worsens in first quarter: London futures prices near £10,000 a tonne as poor west African harvests hit supplies
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If UK can’t land its top coaching candidates, is it time to bring Rick Pitino back?
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Quick Glance: Tiger Woods Sets Record
- At this year's Masters in Augusta, Georgia, attention was on whether Tiger Woods would make the cut.
- Woods finished his opening rounds with a 1-over-par and an even-par, securing him comfortably above the cut line.
- His score was well above the projected cut, marking his 24th consecutive cut, a tournament record.
- As one of 27 players still on the course, Woods had a grueling day, mentioning fatigue after playing 23 holes.
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Quick Glance: Russia Strikes Chernihiv: 18 Dead, Ukraine Appeals for Air Defense
- At least 18 people were killed and over 60 wounded in Chernihiv due to Russian missile strikes. Ukrainian officials emphasized that the attack could have been prevented with adequate air defense systems.
- Russia launched three Iskander cruise missiles at the city, located near the Russian border and previously encircled by Russian troops.
- Ukraine currently has three Patriot air defense systems but requires 26 for full coverage. Following appeals for more systems, Germany pledged to send an additional one.
- A $60 billion aid package for Ukraine is stalled in the US Congress, allowing Russia to exploit ammunition and air defense shortages and gain ground in the east.
RAF shot down 'a number of drones' in Iran's attack on Israel: Rishi Sunak has confirmed that the RAF shot done Iran attack drones headed towards ...
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Quick Glance: The Night Iran's Missile Show Rattled Israel
- In Tehran, 'Operation True Promise' launched an unprecedented aerial assault on Israel.
- The direct clash between powerful militaries showcased Israel's defense and Iran's display of power.
- Despite minor damages and injuries, the question remains whether this attack signifies further escalation or the start of a war.
- The missile and drone strikes resulted in minimal damage, with Israel and allies successfully intercepting most projectiles.
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Bishop stabbed in Sydney church says he forgives attacker: Mar Mari Emmanuel shares message from hospital bed after being attacked while giving a sermon that was ...
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Quick Glance: Twelve Jurors Seated in Trump's Hush Money Trial
- A jury of 12 individuals was empaneled on Thursday in the landmark hush money trial of former President Donald Trump, bringing the proceedings closer to opening arguments and the commencement of weeks filled with compelling testimonies.
- The upcoming trial is anticipated to present unfavorable testimonies regarding Trump's personal life pre-presidency, including accusations of manipulating business records to suppress narratives in the final days of the 2016 election surrounding his intimate relationships.
- Central to the trial is a payment of $130,000 made by Cohen just before the 2016 election to adult film actress Stormy Daniels, aimed at preventing her allegations of a sexual encounter with Trump from being publicized in the campaign's final stretch.
- The selection of the jury holds paramount significance in any criminal proceeding, particularly so when the accused is a former president and the presumed Republican candidate. Potential jurors have undergone extensive scrutiny concerning their online presence, personal backgrounds, and political stances as legal representatives and the judge meticulously scrutinize for partialities that could compromise their impartiality.
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- It is understood that Jeremy Hunt, the chancellor, James Cleverly, the home secretary, Alex Chalk, the justice secretary, and Chris Heaton-Harris, the Northern Ireland secretary, are among those against leaving the convention.
- Following a significant ruling by the European Court of Human Rights in Strasbourg on Tuesday that governments have a duty to protect people from climate change, there is a growing sentiment among Conservative MPs to withdraw from the ECHR.
- Last week, Sunak issued a threat to exit the ECHR if flights to Rwanda are not resumed.
Sydney church stabbing: bishop injured in second knife attack: Bishop Mar Mari Emmanuel was injured while delivering a sermon that was being streamed online ...
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- The attack on Bishop Mar Mari Emmanuel, allegedly by a 15-year-old, occurred at the Christ the Good Shepherd Church in Wakeley on Monday night following a sermon where the bishop mentioned that his death was imminent.
- The bishop clarified that his potential passing would not be an attempt to escape or avoid life, but rather a conscious desire to be with God.
- A 15-year-old boy was arrested after the attack on the bishop and three other men during a service at an Assyrian Orthodox church in Sydney's southwest. The bishop was taken to the hospital with multiple stab wounds and is currently in stable condition.
Password crackdown leads to more income for Netflix: Netflix to stop reporting subscriber numbers, prioritizing viewer engagement instead.
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Quick Glance: Netflix to Cease Reporting Subscriber Numbers from 2025
- Netflix will no longer report subscriber numbers starting from the first quarter of 2025. The announcement came with the first quarter 2024 results where Netflix exceeded expectations.
- Despite the success in the first quarter, Netflix shares dropped over 4.5% after-hours upon revealing the decision to stop reporting quarterly subscriber totals.
- The choice to discontinue reporting quarterly membership numbers or average revenue per member is based on Netflix's belief that engagement time is the best indicator of customer satisfaction.
- Netflix plans to announce major subscriber milestones but will halt reporting quarterly subscriber numbers and shift investor focus towards time-spent-viewing metrics.
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"Exaggerated": France's assessment of the Iranian attack on Israel: France and Britain agree that the Iranian attack on Israel was "excessive".
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Quick Glance: New Measures Against Iran and Escalation in West Bank
- The United States intends to take further actions against Iran in the coming days to address the attacks on Israel over the weekend, as announced by US officials on Tuesday.
- To combat the escalation in the Israeli-occupied West Bank, Israeli and Palestinian officials reported the deaths of two Palestinians shot by Israeli settlers on Monday.
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Taylor Swift fans lose at least $1 million to Eras Tour scams in the UK: Thousands of Taylor Swift’s UK fans have been duped into buying fake tickets for her ...
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Quick Glance: Taylor Swift unveils track list for new album featuring two collaborations
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- The album has four sides, with the titles of the songs suggesting it could be a breakup album about her ex-boyfriend and actor Joe Alwyn, whom Swift dated for six years.
- There are several song titles in the album referencing London and England, where Alwyn is from, contrasting the cheerful nature of 'London Boy' with darker titles like 'But Daddy I Love Him.'
- Swift also revealed that she wrote the bonus track 'You're Losing Me' two years ago, which depicts a relationship on life support as she pleads with her partner to revive the romance.
JK Rowling: I won’t forgive Harry Potter stars over pro-trans views: The author criticised celebrities who supported the transitioning of children ...
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Vietnamese property tycoon sentenced to death over $12bn fraud: State media says Truong My Lan’s crimes eroded public trust in ruling Communist party
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Quick Glance: Death Sentence for Real Estate Tycoon in Vietnam's Largest Fraud Case
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- Born in 1956, Lan founded the Van Thinh Phat company with her family in 1992, which grew to become one of Vietnam's richest real estate firms linked to some of Ho Chi Minh's most valuable properties.
- She was accused of using the bank as her cash cow, illegally controlling it between 2012 and 2022, and using thousands of 'ghost companies' in Vietnam and abroad to give loans to herself and her allies.
- Her arrest in October 2022 falls within a period of increased anti-corruption efforts in Vietnam ramping up since 2022, impacting the country's economic outlook and unsettling foreign investors.
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On the day UK introduced Mark Pope, it was Kentucky fans who made a statement
kentucky.com/sports/spt-columns-blogs/mark-story/article287673890.html
Quick Glance: Enthusiastic Kentucky Fans Welcome Mark Pope as New Wildcats Coach at Rupp Arena
- Mark Pope's debut game as Kentucky's coach is still over six months away. However, the manner in which fans packed Rupp Arena for his unveiling as UK's new men's basketball coach would surprise those unfamiliar with the sport's calendar, considering the 2024-25 season doesn't commence until November.
- Rupp Arena accommodates 20,500 spectators. The lower section of the venue features 10,000 theater-style seats, all of which were occupied. The upper section, with an additional 10,500 seats, took longer to fill, but by the time Pope was formally introduced at 4:54 p.m. on Sunday, not a single seat was vacant.
- All of this to greet back a beloved figure.
- "We witness these introductory press conferences frequently," Pope remarked. "No individual worldwide has ever witnessed a spectacle like this."
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European stocks suffer worst day in nine months : Strength of US economy prompts investors to scale back expectations for rate cuts
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Quick Glance: EU Proposes Mobility Expansion for UK and EU Youth
- The European Commission has proposed opening negotiations with the UK to allow mobility for millions of 18- to 30-year-olds before Brexit.
- Under the planned agreement, EU and UK citizens aged between 18 and 30 could have the opportunity to stay in the destination country for an extended period.
- The decision by the commission, which was previously strongly against concessions to the UK, is seen as a breakthrough in UK-EU relations.
- If approved, millions of young people could come to the UK to fill the gap left by Brexit in the hospitality sector and at universities.
Ben Bernanke says BoE must revamp main economic model: Nobel laureate cites ‘significant shortcomings’ and calls for end of fan charts
ft.com/content/4433c035-fa80-49ad-a3dd-a3af2c509e0c
Quick Glance: Improve: Bernanke Critiques Bank of England's Handling of Inflation Crisis
- The Bank of England has deteriorated in economic forecasting, with faulty models and outdated systems. Communication with the public needs enhancement.
- Ben Bernanke's report includes 12 detailed recommendations, which Andrew Bailey, the Bank's governor, intends to act upon. Bernanke emphasizes the Bank's potential for significant improvement.
- Bernanke criticizes the Bank's use of fan charts, suggesting they lack useful information and should be replaced with more transparent communication methods. He highlights the need for clearer decision-making reasoning.
- Despite recommendations, Bernanke avoided speculating on past actions, indicating room for substantial improvement within the Bank's processes. The report conveys a clear message: the Bank could have performed much better.
Rubber duck bobs all the way to Scotland after epic 18-year journey: It was helpfully marked with information about where it set off from in 2006.
metro.co.uk/2024/04/17/rubber-duck-bobs-way-scotland-epic-18-year-journey-20664451/
UK tells Hong Kong citizens in Britain: 'You are safe here': Britain on Monday sought to reassure its community of Hong Kong citizens that they were safe from ...
reuters.com/world/uk/uk-seeks-reassure-hong-kong-citizens-britain-you-are-safe-here-2024-04-15/
Two horses die at Grand National as animal charities call for end to racing: Horses Giovinco and Pikar both died on the second day of racing.
itv.com/news/granada/2024-04-12/horse-dies-at-grand-national-as-campaigners-call-for-tougher-safety-measures
Quick Glance: Why I Won't Be Watching the Grand National This Year
- I used to find the arguments of Grand National opponents outdated.
- Last year's event was chaotic and marked by accidents.
- There were many fatalities and criticisms leading to changes for the 2024 race.
- Despite the planned alterations, the author has lost interest in the race.
ITV winner 'devastated' after disabled dog banned from trip: Saturday Night Takeaway winner Tammie Fox has blasted TUI for barring her paralysed dog from a ...
metro.co.uk/2024/04/17/itv-winner-devastated-disabled-dog-banned-prize-holiday-20662382/
Baby died at nursery after being 'left strapped face-down to bean bag': Kate Roughley, 37, denies the manslaughter of nine-month-old Genevieve Meehan.
metro.co.uk/2024/04/16/baby-died-nursery-left-strapped-face-down-bean-bag-20659091/
UK's easyJet sees strong summer momentum, lifting shares: British airline easyJet said it was confident travel demand would remain strong this summer ...
reuters.com/business/aerospace-defense/uk-airline-easyjet-cuts-winter-losses-says-demand-builds-summer-2024-04-18/
‘Blame her’: Meghan’s big Archie, Lili fear: Meghan Markle is reportedly worried about the long-term impacts of her childrens’ separation from their father’s ...
news.com.au/entertainment/celebrity-life/royals/meghan-markles-big-fear-over-archie-and-lilibet-blame-her/news-story/bfb91be0832475886d418aff25d501ff
Vietnamese women using Hungary as staging post to enter UK illegally: Most of the increasing numbers of immigrants from the southeast Asian country are women ...
thetimes.co.uk/article/vietnamese-women-using-hungary-as-staging-post-to-enter-uk-illegally-ch7mm0zq9
Paid articlePaid LIVE: Britain's Tobacco and Vapes Bill second reading in UK parliament: Reuters Live on X (Twitter)
twitter.com/i/broadcasts/1nAKEaRnrdRKL
The US and Europe need a strategy for the geopolitical contest over AI: Rising middle powers will play a key role in the struggle for global technological ...
ft.com/content/95a4bd15-ed9b-4f06-a6be-a64ad0541c18
EasyJet targets another bumper summer of record profits : Low-cost airline confident about delivering strong performance as Middle East conflict fails to dent ...
ft.com/content/42894f44-0e2f-4415-98b5-ce00570a67d1
The once bustling market now struggling due to soaring costs, ULEZ and theft: Romford Market was once a bustling hub of activity, with stalls lining the entire ...
essexlive.news/news/essex-news/market-stalls-once-lined-street-9224468
UK PM Sunak to consult on tougher rules to combat 'sick note culture': British Prime Minister Rishi Sunak will look at tightening the rules for long-term sick ...
reuters.com/world/uk/uk-pm-sunak-consult-tougher-rules-combat-sick-note-culture-2024-04-18/
First heatwave of 2024 to hit in days with 'three weeks of sunshine' possible: The UK is set to see the first heatwave of 2024 in the coming days ...
mirror.co.uk/news/uk-news/uk-weather-first-heatwave-2024-32542260
Quick Glance: First Heatwave Expected in the Coming Days
- A heatwave is set to hit the UK soon, with temperatures above normal.
- British residents can expect three weeks of hot, dry sunshine, especially in the south and east.
- The Met Office forecasts normal temperatures with varied weather patterns.
- The BBC Weather predicts decreasing forecast confidence and uncertain weather patterns.
Hunt says Thames Water must ‘sort out’ its own issues : Chancellor says UK government will never insure investors against poor decisions
ft.com/content/cfbfb778-205b-41b2-a836-6537f03cc30a
Akshata Murty in line for multimillion-pound Infosys payout: The prime minister’s wife is to pocket £10.5 million in dividends from Infosys ...
thetimes.co.uk/article/akshata-murty-in-line-for-multimillion-pound-infosys-payout-59508rhrv
Paid articlePaid Controversial tobacco law: Britons want to ban cigarettes: Churchill would not be pleased with his fellow countrymen: Britain's Conservatives, of all people ...
spiegel.de/ausland/grossbritannien-briten-wollen-zigaretten-verbieten-a-419848af-7800-4af6-940a-1c1a8b874d1b
Next BoE deputy governor sees rate cuts coming into view, but can't say when
reuters.com/world/uk/next-boe-deputy-governor-sees-two-sided-risks-policy-outlook-2024-04-16/
KPMG fined $25mn over exam cheating scandal at firm’s Dutch arm: Penalty is largest in US accounting regulator’s history
ft.com/content/afb9ac8c-5d7b-44bb-9058-8fe3e37042bf
Paid articlePaidQuick Glance: Significant Fine Issued to KPMG for Exam Fraud in Dutch Branch
- Record penalty by US accounting oversight
- KPMG's Dutch branch fined for exam cheating
- Internal exam cheating a recurring issue among Big Four
- PCAOB initiates "culture review" of auditors
Yayoi Kusama beats David Hockney to become top-selling contemporary artist: Japan’s princess of polka dots, known for her psychedelic art installations ...
thetimes.co.uk/article/yayoi-kusama-beats-david-hockney-contemporary-art-japan-q9jhf2x0m
Paid articlePaid Girl, 2, drowned in farm pond 'after being left unsupervised for 30 minutes': Two-year-old Masie Elizabeth Lomax-Newton tragically died after falling into a pond ...
mirror.co.uk/news/uk-news/girl-2-drowned-farm-pond-32614351
The radical repricing of US interest rates: Financial markets and the Fed are searching for a convincing economic story
ft.com/content/5f544dda-3059-47fc-b664-5434b8f7f42f
Rwanda bill delayed after Lords insist on amendments: Rishi Sunak’s plan to get deportation flights to take off by spring is looking unlikely as the bill reached ...
thetimes.co.uk/article/rwanda-bill-mps-lords-migrant-deportation-flights-m969d827b
Paid articlePaid Iran sanctions: US and UK extend measures against Tehran: Measures against Tehran's drone programme are issued jointly in response to Saturday's attack on Israel ...
bbc.com/news/world-middle-east-68848438
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