Newsletter Mar 10, 2023

Sunak and Macron to agree more security cooperation at Paris meeting

British Prime Minister Rishi Sunak will agree closer defence and security ties with French President Emmanuel Macron when they meet on Friday, committing to greater collaboration in supporting Ukraine and in the Indo-Pacific region.

Britain's early retired resist calls to work, despite higher living costs

In their fifties and deciding there was more to life than work, Liz and Ian Woodbridge quit stressful jobs during the pandemic - part of a cohort of British early retirees now resisting a government call to return, despite rising living costs.

Sunak and Macron to discuss migration and Ukraine as they reset ties

British Prime Minister Rishi Sunak will visit French President Emmanuel Macron on Friday, hoping to deepen their co-operation over migration and Ukraine and cement a new start between the countries after years of Brexit rows.

UK investors Aviva, M&G join calls to revive London's financial appeal

Investors Aviva and M&G on Thursday joined calls for Britain to press ahead with financial reforms and give high-growth sectors such as technology companies more support to keep London's markets competitive.

UK says financial reforms will be within same 'orbit' as EU, US

Britain's revamped financial market rules will largely be aligned with U.S.

Oil rises as weaker dollar, French strike balance recession fears

Oil steadied on Thursday after a two-day decline as strike-disrupted fuel supply in France, a drop in U.S.

Crypto-focused bank Silvergate plans to wind down following blow from FTX

Crypto-focused bank Silvergate Capital Corp said on Wednesday it planned to wind down operations and voluntarily liquidate after it was hit with losses following the dramatic collapse of crypto exchange FTX, sending its shares down 35% in after-hours trade.

Hedge funds' Europe stock buying spree unlikely to be maintained - JP Morgan

Hedge funds' bullish equity positioning in Europe is in line with some of the highest levels of the past five years but the appetite for stocks may fade amid rising interest rates and dour signals from bond markets, JP Morgan said in a note to clients on Thursday.

Inflation scare over? The case for and against sticky inflation

Two years after inflation began its rapid ascent, investors, economists and policymakers remain divided on the path ahead.

Credit Suisse delays annual report after SEC call, shares drop

Credit Suisse has postponed publication of its annual report after a last-minute call from the United States Securities and Exchange Commission (SEC), which raised questions about its earlier financial statements.

Nvidia's early investment in AI bears fruit as its A100 chip now powers ChatGPT

Nvidia is already getting ready to introduce its next-generation system called H100.

American Airlines pilots union sets April strike authorization vote

The union representing American Airlines pilots will take a strike authorization vote in April, underscoring a broader push by North American pilots to make gains on salary and working conditions as air traffic increases sharply.

TikTok wins US trademark trial over stitch video feature

Bytedance's TikTok Inc persuaded a federal jury in Los Angeles on Thursday that its Stitch feature does not violate trademark rights belonging to British video-editing company Stitch Editing Ltd.

Groq adapts Meta's chatbot for its own chips in race against Nvidia

Groq, a Silicon Valley chip startup founded by a former Alphabet Inc engineer, said on Thursday it has adapted technology similar to the underpinnings of the wildly popular ChatGPT to run on its chips.

Crypto stocks slide after Silvergate decides to shut down

Shares of crypto-focused companies fell on Thursday after Silvergate Capital Corp disclosed plans to wind down operations and voluntarily liquidate, as the aftermath of FTX's implosion last year reverberates through the industry.

GM offers salaried employee buyouts, will take up to $1.5 billion charge

General Motors Co on Thursday said it was offering buyouts for most of its salaried employees and expects to take a pre-tax charge of up to $1.5 billion to cover the costs.

JPMorgan must hand over CEO Dimon's records in Jeffrey Epstein lawsuit

A U.S. judge on Thursday ordered JPMorgan Chase & Co to hand over more documents concerning Chief Executive Jamie Dimon to the U.S. Virgin Islands.

'More important than rainforests': UK pioneers peat partnership

The government, which wants to restore 35,000 hectares of English peatlands by 2025, backs the market while also providing grants.

In EU, a food fight over nutrition labels

Europe is taking longer than planned to concoct an EU-wide food-labelling system after a colour-coded scheme created in France did not go down well in culinary rival Italy.

Rise in ocean plastic pollution 'unprecedented' since 2005

Plastic pollution in the world's oceans has reached "unprecedented levels" over the past 15 years, a new study has found, calling for a legally binding international treaty to stop the harmful waste.

Several shot dead at Jehovah's Witness centre in Hamburg

Police did not give an exact death toll, but several German media outlets said at least six people had been killed.