Newsletter Jul 14, 2023

The UK economy shrank in May on an extra public holiday for the coronation of King Charles III, official data showed Thursday, and as high inflation prolongs a cost-of-living crisis.

Stocks climb, dollar sinks as Fed seen ending rate hikes

World stock markets rallied Thursday and the euro hit a 17-month dollar peak, after easing US inflation stoked hopes the Federal Reserve's long-running campaign of interest rate hikes could be near an end.

Bank of England warns of rising mortgage payments and potential struggles for UK households

The Bank of England warns that nearly one million UK households will face higher mortgage payments due to rising interest rates, potentially impacting financial stability.

Starmer explains Labour's core purpose to remove barriers to opportunity across the UK

The Labour leader Sir Keir Starmer has explained that Labour's core purpose is to remove barriers to opportunity that hold back Britain's potential.

UK Government implements pay increases for public sector workers amid strikes

UK government offers pay raises to public sector workers amidst strikes. Junior doctors walk off the job for five days. Concerns were raised about NHS costs and patient care.

British online retailers increase spending on advertising, inventory and software by 29%

UK online retailers have increased their spending on advertising, inventory and software in Q2 2023 driven by a 15 per cent YoY increase in inventory investment.

EU clears US chipmaker Broadcom's $61 bn VMware takeover

The European Commission approved US chipmaker Broadcom's planned $61-billion takeover of cloud computing firm VMware on Wednesday after the company offered remedies to ease competition concerns.

China intelligence targets UK 'prolifically': report

China's state intelligence apparatus targets the UK "prolifically and aggressively" but the government in London's response has been "completely inadequate", a parliamentary committee said Thursday.

US arrests former head of bankrupt crypto platform Celsius

US prosecutors arrested the former head of Celsius Network on fraud charges on Thursday, a year after the cryptocurrency platform filed for bankruptcy protection while owing investors $4.7 billion.

Elon Musk launches new AI company xAI to unlock mysteries of the universe

xAI's website does not divulge details about what the company does, but Elon Musk and his team will share more information in a Twitter Spaces chat on Friday.

Samsung files various robotics patents in the US

One of the newly filed patents implies Samsung is working on a robotic technology that can monitor pets' movements and detect their emotions.

New online reform regulatory system of Ofcom could cost nearly £170m

Critics of the proposed reforms argue that the financial burden could place undue strain on online platforms, particularly smaller companies and startups.

UK government commends organisations for supporting the Armed Forces community

Almost 200 organisations have been noticed for their support towards the Armed Forces community. These organisations also set out to employ former Armed Forces personnel.

Travel warning in UK as contagious disease strikes popular beach

Tourists and locals have been asked to stay away from the affected beaches.

England Lionesses call for more efforts into women's football development and ACL injury research

Since May 2022, more than 20 footballers in top women's teams have torn their ACLs. The lionesses speak out about the lack of care for women's football.

Djokovic looms large as Alcaraz bids to reach Wimbledon final

Carlos Alcaraz takes on Daniil Medvedev on Friday for a place in the Wimbledon final, where history-chasing Novak Djokovic will likely be lying in wait.