Britain Financial News

Westpac CEO Peter King and Australian Banking Association CEO Anna Bligh met Treasurer Jim Chalmers on Wednesday evening to ask the federal government to implement a new policy the banks are calling the “regulatory grid”.

The move to expand the programme follows an earlier pilot in 2022 conducted by EY and a subsequent 'Discovery Phase' held in consultation with market participants, including Barclays, Lloyds, HSBC, Santander and Visa. It follows a recent PoC run by the Federal Reserve with a clutch of top banks that demonstrated the feasibility of an interoperable network for wholesale payments operating on a shared multi-entity distributed ledger. While the UK Discovery Phase explored the delivery of a RLN for wholesale paymnts, the PoC will track the retail consumer market. This would test the use case for a RLN that would provide commercial bank money with the equivalent programmability of a future digital pound, in this way ensuring competitive consistency in the event of a full scale CBDC roll out. The importance of this was emphasised in a speech given in July by Bank of England governor Andrew Bailey, who stated: "We want to encourage more thinking and action in the world of enhanced digital bank deposits - sometimes call tokenised deposits.

Deloitte is planning to cut more than 800 jobs in the United Kingdom, a source told Reuters on Wednesday. The company is proposing some targeted restructuring that would result in the reduction of 3% of its workforce of 27,000 in the UK, a person familiar with the matter told Reuters. The move comes as Deloitte, one of the «Big Four» accounting firms, plans to focus on cost-cutting due to the slowdown in the second half of the current financial year as clients are being more cautious in their spending, the person said. A number of businesses have reduced their workforce in recent times anticipating a likely economic slowdown later in the year. In April, the Financial Times reported that Deloitte would slash around 1,200 jobs or 1.5% of its U.S. workforce.

Olivia Rodrigo will launch her 'Guts' World Tour in North America and Europe in February 2024 and it will come to an end in August. The tour will go across North America for six weeks before moving to Europe. It will return to North America in May before concluding in Rodrigo’s hometown of Los Angeles. The tour will feature opening acts, performed by young women. British dance-pop singer PinkPantheress, Los Angeles-based pop singer Chappell Roan, and California pop-rock singer Remi Wolf will produce the opening acts. Ex-Pixies singer Kim Deal will lead the Breeders band which will produce a string of radio and video hits. The American singer made her VMA debut in 2021 as she performed her Billboard Hot 100 No. 1 hit 'Good 4 U.'

Alibaba announced that its proprietary large language model, an artificial intelligence system called Tongyi Qianwen, will be available for public and enterprise access throughout China starting Sept. 13. 

SIMPLY SITTING down seems like it should require no expertise or deep consideration. But just as working has become synonymous with being chained to a desk (or kitchen table), sitting has been deemed “unhealthy." While some designers, disrupting convention, are creating standing and treadmill desks that dispense with sitting altogether, there’s a middle ground: so-called “active chairs," that employ a range of strategies to make the act of sitting not so sedentary.

Deloitte plans to layoff more than 800 positions in the UK, equivalent to about 3% of its workforce of 27,000 in the country, in response to a slowdown in demand and an easing in the pace of workers choosing to leave, Bloomberg reported citing source. Accountants at the Big Four firms -- which also include Ernst & Young LLP, PricewaterhouseCoopers LLP and KPMG LLP -- are clinging to their jobs amid economic uncertainty and a sharp drop in open roles, the report said “Today we announced some targeted restructuring across our businesses, which may put some roles at risk of redundancy," Bloomberg quoted Deloitte CEO Richard Houston.

Delhi Police received hoax calls about terrorist attacks in the national capital and 38 PCR (Police Control Room) calls complaining about drones flying over the residential areas during the G20 Summit this weekend. «We received 38 calls complaining against drones that were flown in different areas of Delhi. There were also one or two calls regarding terrorist attacks.

Global energy giant BP is scurrying to find a new chief executive after CEO Bernard Looney became the latest corporate leader to step down amid questions about his personal conduct

A record of more than one in five young Chinese are out of work, their career ambitions derailed by a depressed job market as the economy struggles to regain momentum after its long bout with COVID-19

The British economy shrank by 0.5% in July after a series of strikes, particularly by doctors at the start of their careers, and unseasonably wet weather

JioCinema in 11 languages for free. On linear and offline TV, the series will be aired live on Colors Tamil (Tamil), Colors Bangla Cinema (Bengali), Colors Kannada Cinema (Kannada), Colors Cineplex Superhits (Hindi), Sports18-1 SD, and Sports18-1 HD (English). The series is of great significance for both sides, as they will look to find momentum leading up to the 50-over World Cup. The expert panel for the series across languages will include Suresh Raina, Kedar Jadhav, Aakash Chopra, Nikhil Chopra, Amit Mishra, Anirudha Srikkanth, Abhinav Mukund, Hanuma Vihari, Venkatpathy Raju, Sarandeep Singh, Reetinder Singh Sodhi, Rahul Sharma, VRV Singh, Kiran More, Sheldon Jackson, Bhargav Bhatt, Jatin Paranjpe, Shreevats Goswami, and VA Jagadeesh, among others. After shattering all records and establishing unprecedented levels of engagement, viewership, and concurrency during the IPL 2023, JioCinema will offer viewers their favorite sport in a never-seen-before presentation for free.

Here's how analysts read the market pulse: «The domestic indices resumed their upward trajectory despite weak global cues. The cooling of domestic CPI inflation to 6.83% in August and the rise in industrial production data reaffirmed the robustness of the Indian economy.

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

By Ron Bousso and Shadia Nasralla

GREAT Scholarship is given to individuals who want to pursue higher studies in the UK. More than 200 scholarships are awarded every year. A minimum amount of £10,000 is given to candidates chosen. Individuals who come from India, China, Malaysia, Thailand, Indonesia, and Turkey are eligible for this scholarship. The chosen postgraduate program should begin in September. Indians are given the most number of scholarships. The scholarship covers the full tuition fees for one-year postgraduate programs or the tuition fee for the first year of master’s degree programs with a duration of two years.Eligibility

Shah was previously at Cenkos, where he worked as head of research for nearly two years.

The rising price of gasoline accounted for over half the bump to inflation, increasing 10.6% throughout the month.

'Active managers as yet have not truly grasped the nettle that the cost of investing in active funds is still too high.'

U.S. equity futures traded little changed as traders awaited inflation data for clues on whether policy makers will keep rates higher for longer.

Food waste is not only damaging to your pocket, it's also bad for the environment too. Globally, 1.3 billion tonnes of food are wasted every year, generating about 8% of the world's greenhouse gas emissions. These emissions arise from unused food at all stages of the food supply chain, from production to decomposition. However, our recent study revealed that those who grow their own food in gardens and allotments waste an average of just 3.4kg of fruits and vegetables — 95% less than the UK average. These households adopted various practices to minimise food waste, including preserving or giving away their excess produce. There has been renewed interest in growing fresh produce in gardens, community gardens and allotments in the UK and elsewhere in recent years. But the available supply of allotments is not enough to meet increasing demand. Allocating more land for household fruit and vegetable production could make a significant contribution to the availability of fresh produce for urban residents.Research has shown that using a mere 10% of the available space in the English city of Sheffield for food cultivation could supply enough fruit and vegetables to meet the needs of 15% of the city's population. And more people growing their own food could also reduce waste.