Mini-budget an ‘international embarrassment’ says NatWest boss
Synopsis by The Guardian Dec 06 22
UK’s reputation ‘scarred’, Howard Davies tells staff, as he also warns of government plans to ...Read full article 
The Guardian: Mini-budget an ‘international embarrassment’ says NatWest boss
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| Last Updated | Dec 06 22 |
| Total Articles | 2 |
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overview of the economy of the United Kingdom
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UK inflation falls as crumpet and meat prices drop: New official figures show that inflation, the rate at which prices rise over time, fell again in March.
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Quick Glance: Powell Warns of Lack of Progress on Inflation
- Federal Reserve Chair Jerome Powell emphasized that the U.S. economy, while otherwise strong, has not seen a return of inflation to the central bank's target.
- 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.
UK rental costs rise at record 9.2% : Official figures highlight impact of higher borrowing costs on landlords and tenants
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UK economy grew by 0.1% in February: Second monthly GDP increase in a row raises hopes the UK is emerging from technical recession
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Paid articlePaidQuick Glance: UK on Track to Exit Recession with Rising GDP
- Britain's GDP rose by 0.1% in February despite heavy rainfall affecting the construction sector and retail.
- Sectors like manufacturing and services experienced growth, while construction saw declines due to bad weather.
- Recent months of economic growth suggest the recession may soon come to an end, although pressure from the cost of living crisis and higher prices persists for households and businesses.
- Despite the positive growth in 2024, GDP remains below 2023 levels and has been stagnant since early 2022, with real wages continuing to decrease and many facing financial difficulties.
The AI race is generating a dual reality: US tech giants may dominate but they won’t have it all their own way
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Kate Garraway fans say 'it's wrong on every level' as she despairs at council: Good Morning Britain star Kate Garraway reached out to Haringey Council via ...
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Quick Glance: Kate Garraway Fans Outraged Over Post to Deceased Husband
- Kate Garraway reached out on social media to address unsettling post received by her late husband Derek Draper.
- Following Kate's desperate plea, her fans sympathize with her and express outrage over the situation.
- Kate revealed the significant debts she has incurred due to Derek's care costs and discussed the lack of government support.
- Despite Derek's critical health condition and the substantial debt burden after his passing, Kate continues to struggle to receive the necessary assistance.
Sanctions on Russian Metal Will Test the Limits of Its Epic Railroads: Moscow officials have turned east. Adapting the country’s vast logistics networks is ...
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Prince Harry says travel industry must do more for local communities: Britain's Prince Harry said it was crucial the travel industry did better by the local ...
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‘Ted Lasso’ star Hannah Waddingham rebukes photographer over ‘show’ leg request: “Ted Lasso” star Hannah Waddingham rebuked a photographer allegedly asking her ...
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- The heated exchange didn’t affect Waddingham’s hosting duties, showcasing her resilience.
- Waddingham’s telling-off went viral, earning praise for her strong stance against sexism.
- The award-winning actress has a history of speaking out against derogatory remarks and has been commended for her courage and determination.
Retail sales show zero growth despite 'fresh two-year high' for consumer confidence
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Paid articlePaid Bank of England's Ramsden more confident UK inflation risks are ebbing: Bank of England Deputy Governor Dave Ramsden said on Friday that the risk of British ...
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Microsoft announces new AI office in UK: The firm says its new London hub will "drive pioneering work" to advance AI models and development.
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Amazon could soon be forced to recognise UK's GMB trade union: U.S. technology and retail giant Amazon AMZN.O could soon be required to formally recognise the ...
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Sterling wavers as markets gauge reported Israeli attack on Iran: The pound was little changed on Friday after falling to a five-month low against the dollar in ...
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Airbnb is allowing my tenant to illegally sublet my house: It is enabling her to make money while she is refusing to pay rent
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Quarter of UK children aged 5-7 own smartphones, regulator finds: Ofcom report reinforces online safety concerns as social media apps show significant growth ...
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UK households face second year without improved living standards, says IMF: Growth per head will remain flat this year as the effects of high inflation take time ...
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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.
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Why do US celebrities love the UK? Because they don’t live here: Sarah Jessica Parker is the latest A-lister to lavish our fair isles with praise ...
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UK financial sector seeks stronger accountability of regulators: A new sector-wide body could help ensure that Britain's financial regulators fully comply with ...
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UK sanctions businesses funding Sudanese conflict: Britain on Monday imposed sanctions against three businesses which it said were funding military groups behind ...
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Paralympian Stef Reid takes aim at Nike for not selling single shoes: Stef Reid has questioned Nike's commitment to diversity over their refusal to sell single ...
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UK ‘pothole crisis’ threatens Conservative party ahead of local elections: Motorists and cyclists are increasingly outraged by state of the country’s roads
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US, UK announce new sanctions on Iran after missile and drone strike on Israel: The United States and the United Kingdom announced widespread sanctions against ...
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Quick Glance: Israeli Push for Sanctions Against Iran Amid ‘Diplomatic Offensive’
- Israel has launched a “diplomatic offensive” against Iran, urging sanctions against the Islamic republic.
- Israeli Foreign Minister Israel Katz has called on 32 countries to impose sanctions on Tehran as Israel considers a military response to Iran’s attack.
- Israeli military sources reported intercepting 99 percent of aerial threats with assistance from the United States and allies, causing only minor damage.
- Tensions are high as Israel ponders its reaction to Saturday's attack while Germany calls for new sanctions related to Iran's drone supply to Russia for use in Ukraine.
Expansion plans require 85,000 more childcare places by September 2025 : Pilot to explore how to repurpose unused school space to increase capacity for funded ...
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Kate Garraway defended over luxury flight after sharing her £800k debt: Good Morning Britain star Kate Garraway has been defended by fans after she shared a snap ...
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Quick Glance: Support for Kate Garraway after Luxury Flight and £800k Debt
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- The Good Morning Britain host took to Instagram to express gratitude for the outstanding service on her Emirates flight, facing international storms and delays.
- Kate disclosed that her earnings from ITV are insufficient to cover the debts resulting from the extensive care for her late husband Derek.
- Her devoted supporters come to her defense following criticism over a lavish flight experience.
Emma Raducanu wins as Great Britain reach Billie Jean King Cup finals: Emma Raducanu's victory over Diane Parry on Saturday means Great Britain will be in ...
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Bank of England inflation review: Bernanke finds ‘significant shortcomings’: Former US Federal Reserve chairman says system is in need of serious reform
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Paid articlePaidQuick 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.
US, UK unveil sweeping sanctions on Iran in response to its attack on Israel: WASHINGTON: The United States and the United Kingdom announced widespread sanctions ...
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Quick Glance: US imposes new sanctions on Iran's drone program
- The United States imposed new sanctions Thursday on sixteen people and two entities associated with Iran’s drone program to punish Tehran for the weekend's attack on Israel.
- The sanctions target executives of an engine manufacturer supplying Iran’s Shahad-131 drones, companies servicing the engines, and individuals providing the drones to Iranian proxy forces in the Middle East.
- Coordinated with European allies, the new sanctions aim to disrupt Iran's missile and drone program and isolate the country globally.
- President Joe Biden emphasized the US commitment to holding Iran accountable, utilizing economic tools to counter Iran's activities, as stated by Treasury Secretary Janet Yellen.
Winchester College ranked in the top 30 private schools in the UK: Winchester College Ranked in the top 30 Private Schools in the UK
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Fintech finally starts to add up for investors: More firms may be seeking listings in the next year
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Britishvolt ‘gigafactory’ site sold for £110m to US private equity firm: Blackstone’s plans for data centre unlikely to generate thousands of jobs failed startup ...
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Primary schools in Britain are beginning to close : A baby bust is starting to work its way through the system
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Briton who ran length of Africa says Congo kidnapping was only time he mulled quitting
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UK Tenants Facing Double-Digit Squeeze in Rents, Outpacing Pay: UK tenants are facing a double-digit surge in rental costs in the coming years as rocketing ...
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Britain's Prince Harry formally confirms he is now a US resident: Prince Harry, the son of King Charles III and fifth in line to the British throne ...
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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.
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Quick Glance: Liz Truss: From Premiership to Resignation in 49 Days
- Liz Truss became Prime Minister and resigned after just 49 days, despite her husband's prediction that 'it would all end in tears'.
- Truss assumed office on September 6, 2022, succeeding Boris Johnson, but faced early challenges and personal struggles.
- Despite implementing economic measures and facing political turbulence, Truss resigned after a mini-budget led to a pensions crisis.
- She reflects on her failed tenure, attributing blame to structural issues and drawing parallels to the controversial football manager Brian Clough.
Grocery delivery app Getir prepares to exit UK market: Getir, which has a multimillion-pound commercial deal with Spurs, is to put more than 1 ...
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Jeremy Paxman: Parkinson's 'makes you wish you hadn't been born': The former University Challenge presenter delivers a list of recommendations to Downing Street.
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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.
Hamad International Airport in Qatar named world's best airport in 2024, Changi Airport takes 2nd place
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UK retail sales stagnate despite easing inflation: British retail sales stagnated in March despite high inflation easing recently, representing the first time ...
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Should UK investors have easier access to crypto?: Despite government pledges to make Britain a leader in digital assets, retail investors remain without ...
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Asda, Aldi, and Sainsbury’s misleading food labels found: Which? has found Asda, Aldi, and Sainsbury’s have 'misleading' food labels on shelves and packaging ...
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ISAs: Use Your UK Savings Tax Breaks While You Still Can: Even ISAs are on the hitlist now.
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Norway wealth fund backs NatWest plan to buy more state-owned stock: Norway's $1.6 trillion sovereign wealth fund, one of the world's largest investors ...
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Aluminium prices soar after UK and US ban on Russian metals trade: The UK and the US want to "prevent the Kremlin funnelling more cash into its war ...
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The pound is no longer so vulnerable: There are signs that sterling is set to embark on an upward trend after several years in the doldrums
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‘Thank you Cal’ yard sign spotted in front of John Calipari’s Lexington home: Yard sign placed in Lexington, Kentucky front yard of UK basketball coach’s John ...
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Quick Glance: Arkansas Saves Kentucky and John Calipari
- John Calipari and Kentucky were on the brink of giving it one more shot. Arkansas saved them from themselves - and that's good for everyone.
- The relationship between the 65-year-old Hall of Fame coach and the elite program was not just dull but also burdensome. When athletic director Mitch Barnhart and Calipari sat for a local television interview last month to assure fans that they were on the same page and committed to getting the Wildcats back on top, it seemed more like a hostage video.
- Arkansas and its billionaire supporters unexpectedly intervened to recruit the coach nobody else pursued and offer him a compensation beyond what others could provide. Everyone benefits. Perhaps not the Razorbacks - time will tell - but certainly Calipari and Kentucky. He was in desperate need of a fresh start, as were the Wildcats. After failing to reach the second weekend of the NCAA Tournament for the fourth consecutive year, the individual who led Kentucky to seven Elite Eights, four Final Fours, and a national title in his initial decade came to a realization.
- This is not intended to diminish Calipari's past achievements at Kentucky. He revitalized the Cats, contributed to their national title, and kept UK in contention for a championship nearly every year during his remarkable first ten years. He served as a positive influence in the state, demonstrating his philanthropy in times of crisis. This is about recognizing that since 2020, Calipari was tarnishing this legacy. It's about acknowledging that both sides knew the journey had come to an end and it was time to step away. Just when it seemed that Calipari and Kentucky were considering another attempt, Arkansas intervened and rescued them from themselves.
How Vladimir Putin brought Russia’s economy back from the brink: Also on the daily podcast: immigration in Britain and making lorries green
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Paid articlePaid Secret home insurance commissions raking in millions for landlords in England and Wales
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Markets are a frog in boiling water on Iran-Israel: While the reaction to the latest hostilities has been tame, the global economy is too fragile for a new ...
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Susanna floored over Ant and Dec revelation after final Saturday Night Takeaway: Susanna Reid was left stunned on Monday's Good Morning Britain as Andi ...
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State pension increase: How much will payments go up in April with the triple lock?
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Kuwait Airways introduces service to deliver home traveler’s luggage: KUWAIT CITY, April 14: Kuwait Airways has introduced a convenient home luggage delivery ...
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New map shows number of banks disappearing from London streets: More people are moving to online banking
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UK Economy Is Growing Again in All Major Sectors, Survey Shows: The UK economy’s rebound from recession appeared to be gathering momentum in March ...
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Paid articlePaid Nike pins hopes on Olympics in race to take back market share: Nike is set to unveil new kits for the Olympic national teams it sponsors including the U.S ...
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Quick Glance: Nike CEO Acknowledges Shift from Direct Sales Focus
- Nike CEO John Donahoe acknowledged that the company deviated too far from wholesale partners like Macy's and DSW in its pursuit of primarily selling products through its own stores and website.
- Over recent years, Nike has actively worked on restructuring its business model. Initially focused on selling sneakers and clothing in department stores and specialty shops, the brand now generates the majority of its revenue through direct-to-consumer sales.
- This transition enabled Nike to significantly increase revenue and enhance customer insights through data analysis. Donahoe stated that Nike has tripled its mobile and digital business in the past four years.
- Some analysts view Nike's avoidance of wholesale partners as a misstep that hindered the company's progress in innovation and product development.
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Bayer's patent for blood thinner Xarelto invalid, UK court rules: Bayer's patent covering its best-selling blood thinner Xarelto is invalid ...
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If you like a company, should you buy its shares?: Familiarity bias can work both ways for investors
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Can the economy rescue Britain’s Conservatives? : Polling shows Liz Truss’s disastrous mini-Budget looms large in voters’ minds ahead of general election
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Just Eat Takeaway's Q1 transaction value matches estimates: Just Eat Takeaway reported first-quarter gross transaction value (GTV) in line with expectations on ...
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