Newsletter Mar 23, 2023

UK inflation sucker-punches the BoE, while sterling bulls cheer

Bank of England policymakers will not have looked at Wednesday's inflation data with the same enthusiasm as sterling traders, who took advantage of a shock jump to push the pound up, confident that a rate hike this week is now a done deal.

Boris Johnson says 'I did not lie' over lockdown parties

A combative Boris Johnson fought for his political career on Wednesday, as the former British prime minister said "hand on heart" he did not lie to parliament over COVID-19 lockdown parties at a hearing with lawmakers.

UK lawmakers overwhelmingly back key element of N.Irish trade pact

The refusal to support the government threatens to reawaken deep divisions within the governing party over Brexit.

UK inflation surprise pressures BoE to raise rates again

British inflation unexpectedly rose to 10.4% in February, pushed up by higher food and drink prices in pubs and restaurants, according to official data which is likely to prompt the Bank of England to raise interest rates on Thursday.

UK says Broadcom's $61 bln VMware deal could hurt server competition

Britain's competition regulator said U.S. chipmaker Broadcom's acquisition of VMware could make servers more expensive, and it would refer the $61 billion deal to an in-depth inquiry unless its concerns were addressed.

China expected to account for 40% of this year's oil demand recovery

China is expected to account for around 40% of the increase in global oil demand this year as its economy emerges from strict lockdowns, but the increased use will not take prices back to 2022 levels, consultancy Wood Mackenzie said on Thursday.

Macron stands firm on pension bill as protests escalate

French President Emmanuel Macron drew an angry response from unions and opposition parties on Wednesday when he said he would press on with plans to raise the pension age, rejecting calls for a U-turn in response to growing public anger.

UK govt appeals for help finding family of black WWII veteran

UK government leaders appealed Wednesday for relatives of one of the country's last black veterans of World War II to come forward after he died alone and apparently childless.

European businesses target digital transformation projects to boost productivity

Research by Panasonic Connect Europe details the barriers that currently exist for European businesses despite potential opportunities within technology.

Bank of England and Federal Reserve claim banking systems are secure

The Bank of England and the US Federal Reserve have claimed the safety and strength of banking systems ahead of key decisions on interest rates.

Recent data shows gender pay gap is still prevalent

There is more transparency around gender pay gap reporting, which will help address the gap. However, pay differences persist in both the US and the UK.

iPhone 15 to finally get USB-C but there's a huge catch

Apple will likely bring a USB-C port to its upcoming iPhone 15 series, but this change could pose a revenue problem for the company.

Zelensky visits frontline, deadly Russian strikes hit school, homes

Video released by Zelensky's office showed him meeting servicemen in a warehouse and handing out state decorations.

Qatar's Sheikh Jassim makes second bid as battle to buy Man Utd heats up

If one bid is vastly ahead of the others, it could be chosen to enter into a period of exclusivity, which would allow further negotiation ahead of a final sale.