Britain Financial News
20.07 / 09:29
UPS
Ford
Software
country
Aboard Britain’s first commercial self-driving bus
Self-driving technology is moving along. Britain’s Centre for Connected and Autonomous Vehicles co-funds over 90 projects. Fusion Processing is working with Asda, a supermarket, on a self-driving lorry that it hopes to test on public roads next year.
20.07 / 09:29
Lowe's
Waters
Ball
Pool
Align
Infinity
open
The 136-Yard Hole That Will Drive Golfers Mad at the British Open
Reigning British Open champion Cameron Smith stepped onto the tee box of Royal Liverpool’s 17th hole during a practice round, and what he saw resembled an infinity pool. The view heading out toward the water, beyond the green, was gorgeous. The prospect of hitting a golf ball toward it was a nightmare.
20.07 / 09:29
20.07 / 09:17
20.07 / 08:47
COST
UPS
Manufacturing
Racing
Strategy
Australia cannot afford to ignore offshore subsidies
The Productivity Commission has been chided as “naive” over its criticism of government subsidies for batteries and other clean energy products, with proponents of the support saying Australia has little choice even in areas where it has comparative advantages.
20.07 / 08:11
COST
Provident
PayPal
JPMorgan
Chase
country
Reserve
Time
US Federal Reserve looks to match India with launch of new real-time payments service FedNow
Federal Reserve is to launch a new payment service that could allow Americans to send and receive money in seconds. The new service, called 'FedNow', will initially launch with 41 banks and 15 service providers, including community banks and large lenders such as JPMorgan Chase, Bank of New York Mellon and US Bancorp, with plans to add more banks and credit unions later this year. The Federal Reserve has been working on the service since 2019, but it was initially opposed by the big banks, who argued it was redundant, but later agreed to participate as they believe FedNow will expand the services they can offer their customers.
20.07 / 07:59
Alantra’s hiring spree continues with key UK FIG hire
Mid-market investment bank Alantra has hired another dealmaker for its financial institutions group in Europe, continuing a hiring spree that has added 20 senior bankers this year.
20.07 / 07:51
PwC
UK
companies
Financial Services
private equity
UK M&A activity falls in H1 as volume of deals slumps
The report found there was a total of £42.8bn worth of UK deals in H1 2023, a 55% drop when compared to £95bn in H1 2022.
20.07 / 07:51
Interest rates
GDP
emerging markets
China pauses on lending rate changes following slow GDP growth
The policy call follows the country's Q2 GDP results, which reported 0.8% growth for the period, a drop from the 2.2% increase in Q1.
20.07 / 06:31
COST
Citi
Provident
Platform
Pune’s Goel Ganga developer ventures into rental segment
Goel Ganga Developments has ventured into the rental segment to offer last-mile support to people looking out for a place to rent in Pune. The new venture called Goel Ganga Rent Easy is a full-stack platform, which also has separate verticals for buying and selling properties. The rental market is considered as growing segment in Indian real estate as in most of the major cities in India, close to 35% of the inhabitants prefer to rent out a space.
20.07 / 06:13
COST
UPS
Yellow
show
country
Gold hits 2-mth high, $2,000 in sight as inflation cools
Investing.com — Gold prices rose in Asian trade on Thursday, hitting an over two-month high as weak UK inflation data fed more bets that global interest rates were close to peaking, while some weakness in the dollar also helped.
20.07 / 04:29
Twitter
Platform
track
country
“We're back, happy chatting!” tweets WhatsApp after global outage
WhatsApp in a tweet. As per Meta's status dashboard, the company had previously acknowledged experiencing disruptions with "receiving incoming messages and message delivery on WhatsApp." However, they have now resolved the issues reported by thousands of users globally, as stated on Downdetector.com, the outage tracking website. Downdetector, the outage tracking website, revealed that during the incident, there were over 37,000 reports of issues with the messaging service in the United States alone.
20.07 / 02:49
UPS
Boeing
show
country
Sterling takes a beating; dollar gains ground
In Asia, markets also had their focus on China's loan prime rate (LPR) decision, where it is expected to keep the lending benchmarks unchanged after the central bank stood pat on a key policy rate earlier this week. The British pound was last 0.02% lower at $1.2936, after tumbling more than 0.7% on Wednesday in the wake of data that showed Britain's high rate of inflation falling more than expected in June to its slowest in over a year at 7.9%. That pulled back market expectations of further aggressive rate hikes from the Bank of England (BoE), with the prospect of UK rates rising above 6% now likely off the table.
20.07 / 02:49
Reuters
show
Oil prices
open
Oil prices open lower on dollar strength, profit-taking
Oil prices slipped in early Asian trade on Thursday, extending the previous session's losses, as the dollar strengthened and on profit-taking after U.S. crude oil stocks fell less than expected. Brent futures dipped 14 cents, or 0.2%, to $79.32 a barrel by 0001 GMT, while U.S.
20.07 / 01:55
COST
Provident
Lowe's
Target
show
Homeowners
Low
UK homeowners get some respite as inflation falls by more than anticipated to a 15-month low
Inflation in the U.K. has fallen by more than anticipated to a 15-month low in a development that offered struggling homeowners hope that interest rates will not rise as much as feared over the coming months
20.07 / 01:55
Provident
Manufacturing
Mobile
country
India's Tata will build a $5-billion new electric car battery factory in the UK
India’s Tata Sons has confirmed plans to build a 4-billion-pound, or $5.2-billion, electric car battery factory in the U.K. The plant is expected to become one of Europe’s largest battery cell manufacturing sites when it begins production in 2026
20.07 / 01:05
Citi
NOT
Abu Dhabi says law, not just tax, is drawing in City firms
Abu Dhabi has been able to attract prominent UK firms in recent years, and tax benefits are not the only reason, according to its financial centre's chief of market development Arvind Ramamurthy.
19.07 / 23:23
COST
Provident
MET
Action
trudeau
Canada's Trudeau convenes a crisis group over Canadian port strike as union gives 72-hour notice
Canadian Prime Minister Justin Trudeau met with top officials after the longshore union renewed a 72-hour strike notice after already halting shipments in and out of ports in Canada’s west coast region of British Columbia for nearly two weeks
19.07 / 21:31
UPS
Broadcom
Omnicom
fall
Carvana, Constellation Brands rise; Omnicom, ASML Holding fall, Wednesday, 7/19/2023
Stocks that traded heavily or had substantial price changes on Wednesday: Carvana, Constellation Brands rise; Omnicom, ASML Holding fall
19.07 / 19:47
port strike
bc port strike
B.C. port strike ‘illegal,’ O’Regan says as union reissues 72-hour notice
The union representing roughly 7,400 British Columbia port workers issued a 72-hour strike notice Wednesday, hours after the federal labour minister deemed its impromptu strike “illegal.”
19.07 / 19:43
UPS
Maxim
Manufacturing
Mobile
country
Tata Sons to set up £4 bn battery factory in UK
NEW DELHI : Tata Sons on Wednesday said it would invest £4 billion ($5.16 billion) to establish a new 40GW battery cell gigafactory in the UK. The cells will be utilized to supply to group companies Tata Motors and Jaguar Land Rover for their electric vehicles, as well as cater to renewable energy storage solutions for customers in Europe and the UK, the company said in a press release. “JLR and Tata Motors will be anchor customers, with supplies commencing from 2026", it said.
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