City London Financial News

China's major state-owned banks were seen busy selling U.S. dollars to buy yuan in both onshore and offshore spot foreign exchange markets this week, people with direct knowledge of the matter said, in an attempt to slow the yuan's depreciation. Though they also trade on their own behalf or to execute clients' orders, state banks often act at the behest of the central bank when the yuan is under pressure, as it is now.

US equity futures hinted at recovery from Wednesday’s retreat, even as a selloff intensified across bond markets worldwide. 

By Lewis Jackson and Praveen Menon

Derivatives marketplace CME Group is launching Bitcoin (BTC) and Ether (ETH) reference rates for the Asia Pacific region, in another sign of growing institutional interest in crypto from Asia.

Dentons, the world's largest global law firm, has announced plans to launch a proprietary version of ChatGPT, named «fleetAI,» that will enable its lawyers to apply generative artificial intelligence (AI) to active client matters. The announcement was made in London and the tool is set to launch in August 2023.

Rahul Gandhi is set to visit Ladakh for two days, starting Thursday, as per party sources, as cited by ANI. Earlier, he toured Srinagar and Jammu twice but couldn't visit Ladakh. The party source, however, did not reveal any other plans.

Google, locked in an accelerating competition with rivals like Microsoft and OpenAI to develop AI technology, was looking for ways to put a charge into its artificial intelligence research. So in April, Google merged DeepMind, a research lab it had acquired in London, with Brain, an artificial intelligence team it started in Silicon Valley.

Darren Kent, well-known for his memorable performance in the epic television series 'Game of Thrones', passed away at 39 last week on Friday (August 11). Kent's talent agency, Carey Dodd Associates, confirmed the news on X (formerly known as Twitter). The heartfelt statement read, «It is with deep sadness we have to tell you that our dear friend and client Darren Kent passed away peacefully on Friday.

European natural gas futures jumped by as much as 18 per cent as the labour disputes at Woodside LNG appeared unresolved, potentially disrupting global supplies if staff proceed to strike.

The inception of the metaverse has revolutionized the way we connect, communicate, build and conduct business. Providing new avenues for creators and brands to co-create and reach global audiences, the metaverse has found a home in the fashion, arts and entertainment industries. 

Kej says leading the UK's Royal Philharmonic Orchestra (RPO) for a rendition of "Jana Gana Mana" was special as the national anthem has been the most «important piece of music» in his life. Kej on Monday shared the video of the national anthem, recorded with a 100-piece British orchestra from the RPO at the iconic Abbey Road Studios in London, that earned him praise from Prime Minister Narendra Modi. Ahead of the collaboration, Kej said the first thought that came in his mind was how the times have changed as a man from a country that the British Empire ruled for over 200 years is now leading their «most in-demand» orchestra and performing «Jana Gana Mana».

The potential moves follow a flurry of UK firms seeking listings across the Atlantic, even as the UK government has tried to work with the City to persuade more companies, particularly technology groups, to list their shares in London.

Modi has praised three-time Grammy winner Ricky Kej over his rendition of the country's national anthem recorded with the largest orchestra ever, and said it will make every Indian proud. Kej on Monday shared the video of «Jana Gana Mana», featuring a 100-piece British orchestra from the Royal Philharmonic Orchestra (RPO) at the iconic Abbey Road Studios in London.

Narendra Modi reacted to Ricky Kej's rendition of the national anthem on Monday. The Grammy-winning composer had shared the 60-second video of his version of the national anthem recorded at the world's largest Symphony Orchestra at the legendary Abbey Road Studios in London. Reacting to Kej's post about the national anthem, PM Modi wrote on X (formerly Twitter), “Wonderful.

Bankers, money managers and other financial market participants are starting to loathe the label “ESG” — but they’re also sticking with the strategy, according to a Bloomberg survey.

Shakespeare said the company, which floated in London in 2005 and is valued at more than £1bn, said the US market was more supportive and a “natural base” for YouGov.

Mount Etna. The volcano's ash plume has spread across the eastern part of the island, causing significant disruptions to air travel and affecting key airports.

Deutsche Bank has settled the loans it extended to Go Airlines out of court with its promoters Wadia Group, people aware of the development said. Go Airlines, which operated Go First Airlines, is undergoing voluntary liquidation. Last week, Deutsche Bank conveyed to its resolution professional Shailendra Ajmera and lenders that it wants to relinquish itself as a member of the committee of creditors (CoC) since it has separately settled its debt with the promoter, people cited above said. Exit of the German bank will not have any impact on the debt resolution or recovery of dues, a senior consultant told ET. The RP, backed by EY, recently extended the date to submit expressions of interest from potential bidders for the distressed airline by a month to September 8. A Go First spokesperson in a statement said, “We are not aware of settlement of any such loan. However, Britannia Industries is no way involved with Go First directly or indirectly for any loans provided.” Deutsche Bank and Ajmera declined to comment. According to the initial list of claims filed by creditors on June 8, Deutsche Bank had filed Rs 1,365 crore-claims which were classified as unsecured creditors.

Justin Cameron, the co-founder of online retailer SurfStitch, has snared $US27.5 million ($42.13 million) of funding from ABN AMRO in Europe for his ecological group of brands ranging from oat milk to cloth nappies.

Western University in London, Ont., where the Global Meteor Network is based.Vida suggests turning your phone off and avoiding any bright lights for at least 10 minutes before you turn your gaze to the sky.“This is how long it’s going to take for your eyes to adjust to darkness. And if you look at your phone or anything bright, you will lose your night vision.

Premier League. The encounters between the Gunners and Forest resonated as symbolic of Arsenal's endeavors during the previous season. A commanding 5-0 victory in the capital against Steve Cooper's squad was followed by a humbling single-goal loss in an away fixture in May, ultimately derailing their charge. Mikel Arteta is resolute in extracting lessons from the near-miss and has already secured a trophy in the form of the Community Shield for the 2023-24 season. This summer has been marked by significant activity in north London, as the acquisitions of Declan Rice, Kai Havertz, Jurrien Timber, and the imminent arrival of David Raya underline the determination to pursue championship glory.