UK economy falters as outlook darkens

Newsletter Jul 14, 2023 [ International Business Times]( [UK economy falters as outlook darkens]( 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.  [Learn more about Jeeng]( [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. [dianomi]( [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. You Might Like    [Learn more about Jeeng]( [IBTimes]( IBTimes will always protect your security and privacy. Please read our detailed [Privacy Policy.]( Please do not reply to this email. [Click here]( to adjust your notification preferences or unsubscribe. © Copyright 2023 IBTimes LLC. All Rights Reserved. IBTimes LLC, 33 Whitehall ST FL 7, New York, NY 10004 U.S.A, New York, New York 10004, United States You may [unsubscribe]( or [change your contact details]( at any time.