ReportWire

Tag: London

  • Welsh Rugby Union member clubs vote in favour of major governance reforms

    Welsh Rugby Union member clubs vote in favour of major governance reforms

    [ad_1]

    Interim chief executive Nigel Walker described the vote as the “beginning of a journey” to bring “trust and faith” back to Welsh Rugby; the Welsh Rugby Union will now appoint an independent non-executive director as chair

    Last Updated: 26/03/23 1:22pm

    Welsh Rugby Union member clubs voted overwhelmingly in favour of major governance reforms at an extraordinary general meeting on Sunday.

    Of the 252 votes cast either at the Princess Royal Theatre in Port Talbot or by proxy, only seven did not vote in favour, meaning the 75 per cent majority needed was comfortably exceeded.

    The WRU will now appoint an independent non-executive director (INED) as chair and recruit two further new INEDs to its 12-person board, doubling the total number of independent representatives to six, with the overall aspiration to ensure at least five directors are women.

    Interim chief executive Nigel Walker said: “This is just the beginning of a journey which will see the trust and faith of a nation in Welsh rugby restored and revitalised.”

    The meeting was chaired by WRU president Gerald Davies who called it ‘quorate’ well ahead of an 11am start, with the 95-attendee threshold (to make any vote valid) also easily met.

    The EGM also heard from WRU chair Ieuan Evans, chair of the WRU’s community game board John Manders and Walker, with company secretary Rhodri Lewis overseeing proceedings alongside independent scrutineer Jonathan Rhodes.

    “I’m delighted with the support members have shown for the board’s recommendation today,” said Evans, who set out his stated mission to modernise the governance of the WRU in his New Year address at the start of 2023, just a few weeks after his own election.

    “We now have a line in the sand from which we intend to move forward purposefully, swiftly and better prepared to serve Welsh rugby’s needs. This is another historic day in the 142-year history of the WRU.

    “Members have taken the opportunity to pay something forward of huge significance to our great rugby playing country’s children… and its children’s children.”

    In the new configuration four board members will still come from the WRU council which is entirely elected by member clubs, one of whom will be the community game board’s chair.

    The remaining two spots on the board will be filled by the WRU CEO and a new director role for someone who can support and further the women’s game.

    All changes will take place in context of the overall aspiration to ensure at least five directors are women.

    The annual general meeting of the WRU, which will see a natural changing of the guard for a number of WRU council members takes place in November, and the WRU has already planned a timeline for appointments, with the new chair to come in first and the following processes to be completed before the end of 2023.

    [ad_2]

    Source link

  • ‘World’s longest’ bus journey will take 56 days to cross Europe | CNN

    ‘World’s longest’ bus journey will take 56 days to cross Europe | CNN

    [ad_1]

    Editor’s Note: Sign up for Unlocking the World, CNN Travel’s weekly newsletter. Get news about destinations opening, inspiration for future adventures, plus the latest in aviation, food and drink, where to stay and other travel developments.



    CNN
     — 

    Fancy spending two months traveling overland from Istanbul to London without ever having to get behind the wheel?

    Indian expedition company Adventures Overland is about to launch what’s being billed as “the world’s longest bus journey.”

    Due to depart in August, the 56-day trip, which is available for up to 30 passengers, will span 22 countries, taking travelers from Turkey’s largest city, through the Balkans, eastern Europe, Scandinavia and western Europe, to the UK capital.

    A ferry crossing on the Gulf of Finland, a visit to the North Cape (or Nordkapp) – the northernmost point in continental Europe and a cruise along the Norwegian Fjords – are listed among the highlights of the 12,000-kilometer journey.

    The entire package, which will set travelers back $24,300, includes a daily breakfast, along with 30 lunches and dinners, as well as all hotel stays (on a twin sharing basis).

    While traveling on a bus for two months might not sound hugely appealing to some, the vehicle is described as “a special luxury bus designed for comfortable long-distance travel.”

    Those on board will be able to relax on recliner adjustable seats “with ample legroom” and avail themselves of AUX and USB ports, a foldable tray and bottle and cup holders. Each passenger is permitted to bring two “full-size suitcases” with them.

    Bus to London has been devised as an alternative to Adventures Overland’s annual Road to London route, partly inspired by the Hippie Trail buses that traversed the world during the 1950s and 1960s, which was set to begin in 2021.

    However, the route, which covered destinations such as Myanmar, China and Russia, currently closed to international visitors, was unable to launch as expected.

    Adventures Overland was founded by entrepreneurs Tushar Agarwal and Sanjay Madan back in 2012, who went on to organize various India-to-London expeditions, in which travelers bring their own cars and travel in a convoy, as well as journeys across Iceland and Russia, before introducing their first cross continental bus journey.

    “Every single route in each country has been vetted to ensure that the journey is seamless so participants on Bus to London can get on board with the knowledge and confidence that they are in safe hands,” Agarwal says in a statement.

    Lonely Planet Hippie Trail 1

    The road trip that inspired the Lonely Planet guidebooks

    “Providing a niche and classy experience in a secure environment is our top priority. We take charge of documentation, paperwork, visas and permits to ensure that the entire focus of participants is on experiencing the journey.”

    According to Guinness World Record, the current world’s longest bus route runs for 6,200 kilometers, connecting Peru’s Lima to Rio de Janeiro in Brazil.

    Last year, Swiss railway company Rhaetian Railway set the record for the world’s longest train with the launch of a 1.9-kilometer-long (1.2-mile-long) train with 100 coaches that travels along the Albula/Bernina track from Preda to Berguen.

    Bus to London is scheduled to leave Istanbul on August 7 and arrive in London on October 1.

    [ad_2]

    Source link

  • The Former Los Angeles Home Of Actors Emily Blunt And John Krasinski Lists For $6 Million

    The Former Los Angeles Home Of Actors Emily Blunt And John Krasinski Lists For $6 Million

    [ad_1]

    The Hollywood Hills home that once belonged to actress Emily Blunt and her husband, actor John Krasinski, is back on the market for $6 million. The couple bought the 3,657-square-foot Hollywood Hills home in 2014 for $2.57 million and spent the next two years adding their own unique style to the four-bedroom home.

    Located above Mulholland Drive at the end of a private cul-de-sac and hidden behind tall trees, the home was built in 1965 but looks showroom new. On over a one-third-acre double lot, the lush yard includes a huge partially covered flagstone patio, a fountain and extensive landscape lighting, a gazebo, saltwater pool, a lush, green carpet of grass, topiaries, and views of the mountains, canyon and city skyline. Most exceptional are the large-leafy oak and olive trees, some of which appear to pre-date the 58-year-old home.

    The inside of the home is just as inviting as the outside with glass walls throughout and motorized skylights and retractable blinds to bring in the bright Southern California sunshine. A brilliant foyer leads into the timeless open-concept floorplan with hardwood floors throughout. The recessed living room with a gas fireplace and beamed ceiling, and dining room replicate the outside views.

    There is also a courtyard, indoor/outdoor speakers, closed-circuit cameras, a study, and a chef’s kitchen with custom cabinets, colorful island, Subzero refrigerator and wine fridge, Wolf range and double Miele dishwasher. There are four bathrooms, including a marble-clad en-suite bath with soaking tub and steam shower.

    Hollywood Hills is the ideal location for both visitors and locals near the film studios, Beverly Hills Rodeo Drive, the Los Angeles Zoo, and Griffith Park. Celebrities who currently reside or have resided in the Hills include Katy Perry, Kevin Costner, Jennifer Aniston and Justin Timberlake, according to TopTenRealEstateDeals.com. The listing agent is Ruben Perez of Compass.

    [ad_2]

    Brenda Richardson, Senior Contributor

    Source link

  • Saudi National Bank loses over $1 billion on Credit Suisse investment

    Saudi National Bank loses over $1 billion on Credit Suisse investment

    [ad_1]

    Signage for Credit Suisse Group AG outside a building, which houses the company’s branch, in Tokyo, Japan, on Monday, March 20, 2023. UBS Group AG agreed to buy Credit Suisse Group in a historic, government-brokered deal aimed at containing a crisis of confidence that had started to spread across global financial markets.

    Kosuke Okahara | Bloomberg | Getty Images

    Saudi National Bank is nursing major losses in the wake of Credit Suisse’s failure after a deal was reached for UBS to buy the embattled Swiss lender for $3.2 billion.

    Saudi National Bank — Credit Suisse’s largest shareholder — confirmed to CNBC Monday that it had suffered a loss of around 80% on its investment.

    The Riyadh-based bank holds a roughly 10% stake in Credit Suisse, having invested 1.4 billion Swiss francs ($1.5 billion) in the Swiss lender in November of last year, at 3.82 Swiss francs per share.

    Under the terms of the rescue deal, UBS is paying Credit Suisse shareholders 0.76 Swiss francs per share

    The significant discount comes as regulators try to shore up the global banking system. The scramble for a rescue follows a tumultuous few weeks which saw the collapses of U.S.-based Silicon Valley Bank and First Republic bank as well as major stock price downturns across the banking sector internationally.

    Shares of UBS, Switzerland’s largest bank, traded down 11% at 8:55 a.m., while Europe’s banking sector was around 2.8% lower.

    [ad_2]

    Source link

  • First standard contracts in Welsh rugby history agreed as teams cleared to begin re-signing players

    First standard contracts in Welsh rugby history agreed as teams cleared to begin re-signing players

    [ad_1]

    “This is significant step forward in the process we are following which will secure a sustainable future for the professional game in Wales,” said Professional Rugby Board chair Malcolm Wall.

    Last Updated: 18/03/23 11:16am

    The PRB and WRPA have been presenting Standard Contracts to players and agents

    Wales’ four professional regions have been cleared to begin officially re-signing players after agreeing the first Standard Contracts in Welsh rugby’s history. 

    The Professional Rugby Board and Welsh Rugby Players Association presented the standard contracts to multiple players and their agents over the last day that will make existing and new offers legally binding.

    Players had threatened to take strike action prior to last month’s Six Nations match against England amid contractual uncertainty dating back to last summer.

    Cardiff, Dragons, Ospreys and Scarlets had only been allowed to make verbal offer in recent weeks.

    The WRU said its Rugby Management Board (RMB) and PRB members completed a “significant amount of work” on the contract and rights licence, receiving formal acceptance from the Welsh Rugby Players Association (WRPA) and players’ agents on Friday.

    “This is significant step forward in the process we are following which will secure a sustainable future for the professional game in Wales,” said PRB chair Malcolm Wall.

    “A lot of hard work has gone into getting us to this stage and we are delighted to say our four professional sides are now in a position to offer legally binding contracts as necessary.

    “We remain hugely grateful to the players themselves for their patience and understanding and look forward now to the point where the full agreement can be signed which underpins the PRB’s strategy for the future of the game – a moment which this latest development proves is now closer than ever.

    “A huge amount of credit should also go to the directors at each of our professional teams for ensuring that we reach this critical and pivotal stage for the game in Wales.”

    [ad_2]

    Source link

  • UK bans TikTok on government devices following U.S. move

    UK bans TikTok on government devices following U.S. move

    [ad_1]

    The U.K. plans to ban TikTok on government phones following similar moves in the U.S. and European Union.

    Dan Kitwood | Getty Images News | Getty Images

    LONDON — The United Kingdom on Thursday announced plans to ban the use of Chinese-owned video app TikTok on government corporate devices.

    Cabinet office minister Oliver Dowden said that, following a review by Britain’s cybersecurity experts, it is “clear that there could be a risk around how sensitive government data is accessed and used by certain platforms.”

    Dowden added that apps collect huge amounts of data on users, including contacts and location. On government devices, that “data can be sensitive,” he said.

    “The security of sensitive government information must come first, so today we are banning this app on government devices. The use of other data-extracting apps will be kept under review,” the minister said in a press statement.

    The TikTok ban begins with immediate effect, according to Dowden, who noted that the move was “precautionary.”

    He confirmed the ban would not extend to personal devices for government employees. “This is a proportionate move based on a specific risk with government devices.”

    Exemptions for the use of TikTok on government devices are being implemented where necessary for work purposes, but “will only be granted by security teams on a case-by-case basis, with ministerial clearance as appropriate, and with security mitigations put in place,” the government said.

    The minister also said that government devices will only be able to access third-party apps that are on a pre-approved list.

    In lockstep

    Britain’s move follows similar rules in the U.S. and European Union. In late February, the White House gave government agencies 30 days to make sure TikTok was not installed on federal devices. The European Commission, the EU’s executive arm, also banned employees from installing TikTok on corporate and personal devices.

    Lawmakers in Washington have repeatedly expressed concern that American user data from TikTok could be sent to China and get into the hands of the government in Beijing.

    TikTok has, on several occasions, highlighted the work they’re doing to protect U.S. user data. The company unveiled “Project Texas” last year to “fully safeguard user data and U.S. national security interests.”

    TikTok said it is working with U.S. firm Oracle to store all U.S. data by default on the American firm’s cloud, in a move to assuage Washington’s fears.

    Pressure is mounting globally on TikTok. The  U.S. Committee on Foreign Investment in the United States (CFIUS) told ByteDance to sell its shares in TikTok, or the app could face a U.S. ban. Any ban would choke TikTok off from the massive American market.

    [ad_2]

    Source link

  • Bank stocks dive as Wall Street trembles amid SVB failure

    Bank stocks dive as Wall Street trembles amid SVB failure

    [ad_1]

    Bank stocks fell Monday on worries about what may be next to topple following the second- and third-largest bank failures in U.S. history. But much of the rest of the market rose on hopes the bloodletting will force the Federal Reserve to take it easier on its economy-rattling hikes to interest rates.

    The S&P 500 dipped 6 points, or 0.2%, after whipsaw trading, where it careened from an early loss of 1.4% to a midday gain of nearly that much. The Dow Jones Industrial Average fell 90 points, or 0.3%, while the Nasdaq composite rose 0.4%.

    The sharpest drops were again coming from banks and other financial companies. Investors are worried that a relentless rise in interest rates meant to get inflation under control are approaching a tipping point and may be cracking the banking system.

    The broader market was holding up better as expectations built that the all the chaos means the Fed would have to take it easier on its economy-rattling hikes to interest rates. 


    President Biden hints at new banking regulation after Silicon Valley Bank collapse

    07:09

    Government response

    The U.S. government announced a plan late Sunday meant to shore up the banking industry following the collapses of Silicon Valley Bank and Signature Bank since Friday.

    President Biden on Monday sought to reassure Americans that they can have confidence in the U.S. banking system following the collapse of Silicon Valley Bank and quell any concerns about the fallout from its abrupt failure.

    “Americans can have confidence that the banking system is safe,” Mr. Biden said in brief remarks from the White House. “Your deposits will be there when you need them. Small businesses across the country that deposit accounts at these banks can breathe easier knowing they’ll be able to pay their workers and pay their bills, and their hard-working employees can breathe easier as well.”

    The most pressure is on the regional banks one or two steps below in size of the massive, “too-big-to-fail” banks that helped take down the economy in 2007 and 2008. Shares of First Republic plunged 66.3%, even after the bank said Sunday it had strengthened its finances with cash from the Federal Reserve and JPMorgan Chase.

    Huge banks, which have been repeatedly stress-tested by regulators following the 2008 financial crisis, weren’t down as much. JPMorgan Chase fell 1.8%, and Bank of America dropped 5.8%.

    “So far, it seems that the potential problem banks are few, and importantly do not extend to the so-called systemically important banks,” analysts at ING said.

    Trading halted at some regional banks

    The stocks of other regional banks also took a hit Monday, including Zions, Pacific West and Western Alliance. More than a dozen regional banks had their trading halted Monday after prices continued to free fall following the seizure by regulators of Silicon Valley Bank (SVB) and New York’s Signature Bank.

    Analysts at Bank of America said they “expect regional bank stock volatility to remain challenging in the short run as investors recalibrate the risk-reward” in the coming days. 

    “The events of the last few days are likely to worsen the funding cost pressure that the industry was already facing,” they said in a report. “No bank is immune, but this pressure will likely be most pronounced among banks with a larger mix of rate sensitive customers.”

    Regional lenders that saw falling stock prices Monday are unlikely to collapse the way SVB did because “most large and regional banks have much more diversified deposit bases,” Solita Marcelli, the chief investment officer at UBS, said in a research note. 


    Yellen rules out bailout for Silicon Valley Bank: “We’re not going to do that again”

    06:21

    Among the few investments to climb in price was gold, as investors looked for anything that seemed safe. It rose 2.3% to $1,910.50 per ounce.

    Prices for Treasurys also shot higher on both demand for something safe and expectations for an easier Fed. That in turn sent their yields lower, and the yield on the 10-year Treasury plunged to 3.51% from 3.70% late Friday. That’s a major move for the bond market. It was above 4% earlier this month.

    The two-year yield, which moves more on expectations for the Fed, had an even more breathtaking drop. It fell to 4.12% from 4.59% Friday.

    Call for emergency rate cuts

    Some investors are calling for the Fed to make emergency cuts to interest rates soon to stanch the bleeding. The wider expectation, though, is that the Fed will likely pause or slow its increases.

    Traders are betting on a nearly four-in-five chance that the Fed will hike its key overnight interest rate by 0.25 percentage points later this month at its next meeting. They’re also now betting on a 21% chance that it will hold steady, according to CME Group.


    Feds take action after Silicon Valley Bank and Signature Bank fail

    04:51

    That’s a sharp turnaround from earlier last week, when many traders were betting on the Fed reaccelerating its hikes and increasing by 0.50 percentage points because of how stubbornly sticky high inflation has been.

    “At this point in time, depending on reactions in financial markets and eventual fallout on the overall economy, we wouldn’t rule out that the hiking cycle could even be over and that the next move by Fed officials may be lower not higher,” said Kevin Cummins, chief U.S. economist at NatWest.

    Fears of Fed-induced recession

    Higher interest rates can drag down inflation by slowing the economy, but they raise the risk of a recession later on. They also hit prices for stocks, as well as bonds already sitting in investors’ portfolios.

    That latter effect is one of the reasons for the worries about the banking system. The Fed began hiking interest rates almost exactly a year ago, and it’s instituted the sharpest flurry in decades. Its key overnight rate is now at a range of 4.50% to 4.75%, up from virtually zero.

    That has hurt the investment portfolios of banks, which often park their cash in Treasurys because they’re considered among the safest investments on Earth.

    Global impact

    The collapse of Silicon Valley Bank has reverberated around the world.

    In London, the government arranged the sale of Silicon Valley Bank UK Ltd., the California bank’s British arm, for the nominal sum of one British pound, or roughly $1.20.

    While the bank is small, with less than 0.2% of U.K. bank deposits according to central bank statistics, it had a large role in financing technology and biotech startups that the British government is counting on to fuel economic growth.

    Germany’s financial regulator, BaFin, on Monday prohibited asset disposals and payments by Silicon Valley Bank’s German branch and imposed a moratorium, effectively shutting it for dealings with customers.


    Reverberations felt worldwide after SVB failure

    02:42

    The U.S. Treasury Department, Federal Reserve and Federal Deposit Insurance Corp. said Sunday that all Silicon Valley Bank clients will be protected and have access to their funds and announced steps designed to protect the bank’s customers and prevent more bank runs.

    “Not the end of the world”

    “This situation is something to keep an eye on, but it is not the start of the next financial crisis,” Brad McMillan, chief investment officer for Commonwealth Financial Network said in a note, pointing to the government’s swift and aggressive action. 

    “While we can certainly expect market turbulence—and we are seeing it this morning—the systemic effects will be limited,” he said. “We are not set for a rerun of the Great Financial Crisis. This is not the end of the world.”

    Bank industry analysts also expressed confidence that the banking system as a whole is safe. 

    “We believe the events should not have significant broader implications for the economy and are not a sign of systemic risks to the banking sector,” John Canavan, lead analyst at Oxford Economics, told investors in a report on Monday.

    Regulators on Friday closed Silicon Valley Bank as investors withdrew billions of dollars from the bank in a matter of hours, marking the second-largest U.S. bank failure behind the 2008 failure of Washington Mutual. They also announced Sunday that New York-based Signature Bank was being seized after it became the third-largest bank to fail in U.S. history.

    [ad_2]

    Source link

  • Bank stocks dive as Wall Street trembles amid SVB failure

    Bank stocks dive as Wall Street trembles amid SVB failure

    [ad_1]

    Bank stocks are continuing to drop Monday as Wall Street worries about what may be next to topple following the second- and third-largest bank failures in U.S. history. But much of the rest of the market is rising on hopes the fear will force the Federal Reserve to take it easier on its economy-rattling hikes to interest rates.

    The S&P 500 was up 16 points, or 0.4%, at 3,877 in midday trading after charging back from an early drop of 1.4%. The Dow Jones Industrial Average was up 95 points, or 0.3%, at 32,005, as of 12:42 a.m. EST, while the Nasdaq composite was 1.1% higher.

    The sharpest drops were again coming from banks and other financial companies. Investors are worried that a relentless rise in interest rates meant to get inflation under control are approaching a tipping point and may be cracking the banking system.

    The broader market was holding up better as expectations built that the all the chaos means the Fed would have to take it easier on its economy-rattling hikes to interest rates. 


    President Biden hints at new banking regulation after Silicon Valley Bank collapse

    07:09

    Government response

    The U.S. government announced a plan late Sunday meant to shore up the banking industry following the collapses of Silicon Valley Bank and Signature Bank since Friday.

    President Biden on Monday sought to reassure Americans that they can have confidence in the U.S. banking system following the collapse of Silicon Valley Bank and quell any concerns about the fallout from its abrupt failure.

    “Americans can have confidence that the banking system is safe,” Mr. Biden said in brief remarks from the White House. “Your deposits will be there when you need them. Small businesses across the country that deposit accounts at these banks can breathe easier knowing they’ll be able to pay their workers and pay their bills, and their hard-working employees can breathe easier as well.”

    The most pressure is on the regional banks one or two steps below in size of the massive, “too-big-to-fail” banks that helped take down the economy in 2007 and 2008. Shares of First Republic plunged 66.3%, even after the bank said Sunday it had strengthened its finances with cash from the Federal Reserve and JPMorgan Chase.

    Trading halted at some regional banks

    The stocks of other regional banks also took a hit Monday, including Zions, Pacific West and Western Alliance. More than a dozen regional banks had their trading halted Monday after prices continued to free fall following the seizure by regulators of Silicon Valley Bank (SVB) and New York’s Signature Bank.

    Analysts at Bank of America said they “expect regional bank stock volatility to remain challenging in the short run as investors recalibrate the risk-reward” in the coming days. 

    “The events of the last few days are likely to worsen the funding cost pressure that the industry was already facing,” they said in a report. “No bank is immune, but this pressure will likely be most pronounced among banks with a larger mix of rate sensitive customers.”

    Regional lenders that saw falling stock prices Monday are unlikely to collapse the way SVB did because “most large and regional banks have much more diversified deposit bases,” Solita Marcelli, the chief investment officer at UBS, said in a research note. 


    Yellen rules out bailout for Silicon Valley Bank: “We’re not going to do that again”

    06:21

    Among the few investments to climb in price was gold, as investors looked for anything that seemed safe. It rose 2.3% to $1,910.50 per ounce.

    Prices for Treasurys also shot higher on both demand for something safe and expectations for an easier Fed. That in turn sent their yields lower, and the yield on the 10-year Treasury plunged to 3.51% from 3.70% late Friday. That’s a major move for the bond market. It was above 4% earlier this month.

    The two-year yield, which moves more on expectations for the Fed, had an even more breathtaking drop. It fell to 4.12% from 4.59% Friday.

    Call for emergency rate cuts

    Some investors are calling for the Fed to make emergency cuts to interest rates soon to stanch the bleeding. The wider expectation, though, is that the Fed will likely pause or slow its increases.

    Traders are betting on a nearly four-in-five chance that the Fed will hike its key overnight interest rate by 0.25 percentage points later this month at its next meeting. They’re also now betting on a 21% chance that it will hold steady, according to CME Group.


    Feds take action after Silicon Valley Bank and Signature Bank fail

    04:51

    That’s a sharp turnaround from earlier last week, when many traders were betting on the Fed reaccelerating its hikes and increasing by 0.50 percentage points because of how stubbornly sticky high inflation has been.

    “At this point in time, depending on reactions in financial markets and eventual fallout on the overall economy, we wouldn’t rule out that the hiking cycle could even be over and that the next move by Fed officials may be lower not higher,” said Kevin Cummins, chief U.S. economist at NatWest.

    Fears of Fed-induced recession

    Higher interest rates can drag down inflation by slowing the economy, but they raise the risk of a recession later on. They also hit prices for stocks, as well as bonds already sitting in investors’ portfolios.

    That latter effect is one of the reasons for the worries about the banking system. The Fed began hiking interest rates almost exactly a year ago, and it’s instituted the sharpest flurry in decades. Its key overnight rate is now at a range of 4.50% to 4.75%, up from virtually zero.

    That has hurt the investment portfolios of banks, which often park their cash in Treasurys because they’re considered among the safest investments on Earth.

    Global impact

    The collapse of Silicon Valley Bank has reverberated around the world.

    In London, the government arranged the sale of Silicon Valley Bank UK Ltd., the California bank’s British arm, for the nominal sum of one British pound, or roughly $1.20.

    While the bank is small, with less than 0.2% of U.K. bank deposits according to central bank statistics, it had a large role in financing technology and biotech startups that the British government is counting on to fuel economic growth.

    Germany’s financial regulator, BaFin, on Monday prohibited asset disposals and payments by Silicon Valley Bank’s German branch and imposed a moratorium, effectively shutting it for dealings with customers.


    Reverberations felt worldwide after SVB failure

    02:42

    The U.S. Treasury Department, Federal Reserve and Federal Deposit Insurance Corp. said Sunday that all Silicon Valley Bank clients will be protected and have access to their funds and announced steps designed to protect the bank’s customers and prevent more bank runs.

    Regulators on Friday closed Silicon Valley Bank as investors withdrew billions of dollars from the bank in a matter of hours, marking the second-largest U.S. bank failure behind the 2008 failure of Washington Mutual. They also announced Sunday that New York-based Signature Bank was being seized after it became the third-largest bank to fail in U.S. history.

    [ad_2]

    Source link

  • London police officer who killed Sarah Everard sentenced for indecent exposure | CNN

    London police officer who killed Sarah Everard sentenced for indecent exposure | CNN

    [ad_1]


    London
    CNN
     — 

    Wayne Couzens, the former London police officer who abducted, raped and murdered Sarah Everard in 2021, has been sentenced to 19 further months in prison for indecent exposure incidents that took place while he was serving in the force.

    Couzens, 50, was already serving a life sentence without the possibility of parole for the killing of 33-year-old Everard, which sparked outrage towards the Metropolitan Police and began a national debate about violence against women.

    He was additionally sentenced on Monday for exposing himself to women on three occasions in the months prior to the murder. Two occurred at a fast-food restaurant – the latter of which was just days before he murdered Everard – and another took place while Couzens was on shift with the police.

    Couzens appeared via video link from prison during Monday’s hearing. The court heard that he stepped into the path of a female cyclist while naked and masturbating, in a woodland area of Kent in November 2020, while he was supposed to be working from home.

    Then, on two dates in February 2021, Couzens displayed his erect penis to staffers at a fast food drive-through, while picking up food in his car.

    The second incident took place on February 27; days later, on March 3, Couzens kidnapped Everard in south London.

    On Monday, Couzens also pleaded not guilty to a fourth indecent exposure charge from an alleged incident in June 2015. The UK news agency PA Media reported that he will not face trial over that charge as it was left on file.

    Confidence in the Met police force has plummeted following a series of scandals, including cases of violence against women and allegations of a misogynistic and protective culture among officers.

    The crisis began after Couzens’ murder of Everard, which stunned Britain and drew sharp scrutiny towards Scotland Yard. The 33-year-old was walking to her London home on March 3 when Couzens used his police identification and handcuffs to deceive her into getting in his car under the pretense that she had violated Covid-19 pandemic rules. He raped her and strangled her with his police belt later that evening.

    Police were subsequently criticized for their heavy-handed tactics at a vigil for Everard in Clapham, south London, near where she went missing, and for not acting upon red flags in his behavior sooner.

    Two police officers are currently facing misconduct hearings over their handling of two separate indecent exposure reports related to Couzens, the Independent Office for Police Conduct (IOPC) confirmed last month.

    In January, former Met senior officer David Carrick admitted 49 offenses, including 24 counts of rape, over an 18-year period, sparking another round of anger. Critics have called for a root-and-branch inquiry into its the Met’s operations and its process in dealing with complaints.

    Met Commissioner Mark Rowley apologized for the failings that led to Carrick not being caught earlier, in an interview distributed to UK broadcasters in January.

    Announcing a review of all those employees facing red flags, he said: “I’m sorry and I know we’ve let women down. I think we failed over two decades to be as ruthless as we ought to be in guarding our own integrity.”

    A report last fall found that when a family member or a fellow officer filed a complaint, it took on average 400 days – more than an entire year – for an allegation of misconduct to be resolved.

    [ad_2]

    Source link

  • Women’s Six Nations: England name nine uncapped players in 2023 squad

    Women’s Six Nations: England name nine uncapped players in 2023 squad

    [ad_1]

    Saracens’ May Campbell, Gloucester-Hartpury’s Ellie Rugman and Nancy McGillivray of Exeter Chiefs have been named in England’s Six Nations squad

    England Women head coach Simon Middleton has included nine uncapped names in his 42-player training squad for the 2023 Six Nations. 

    May Campbell and Kelsey Clifford of Saracens are joined by Sale Sharks’ Elizabeth Duffy, Exeter Chiefs’ Nancy McGillivray and Gloucester-Hartpury’s Ellie Rugman among the uncapped players.

    Scrum half Natasha Hunt and Gloucester-Hartpury team-mate Sarah Beckett return to the squad in addition to Bristol Bears captain Amber Reed and Harlequins front row Bryony Cleall.

    There is meanwhile a return for Exeter Chiefs forward Poppy Leitch, who last featured for England in the 2019 Six Nations.

    While available to play lock Abbie Ward (pregnancy) and vice-captain Emily Scarratt (neck and ankle) will spend time with the squad to offer coaching assistance.

    England's Bryony Cleall (left), Lark Davies (centre) and Natasha Hunt during an open training session at Twickenham Stadium

    England’s Bryony Cleall (left), Lark Davies (centre) and Natasha Hunt during an open training session at Twickenham Stadium

    “There are a number of new faces in this squad and while we are missing experienced players, this is a great opportunity for these younger players and we’re looking forward to working with them,” said Middleton.

    “There is always a regeneration period after any World Cup and this one is no different. Those selected have performed very well in the Allianz Premier 15s and deserve their opportunity.

    “Sarah Hunter and Marlie Packer will co-captain the squad. Sarah has made it clear she will not be involved in the 2025 World Cup as a player, so it’s essential we look to continue to grow our leadership quality and depth. Marlie is already an integral part of our leadership group, so this is a natural progression for her to co-captain the side and continue to develop her leadership skills.

    “The Six Nations is one of the most iconic tournaments in world rugby that we love participating in. We also recognise that it’s an important start point in terms of preparation for the 2025 World Cup.”

    England begin their Six Nations campaign against Scotland in Newcastle on Saturday March 25.

    England 2023 TikTok Women’s Six Nations squad:

    Forwards: Zoe Aldcroft (Gloucester-Hartpury, 38 caps), Sarah Beckett (Gloucester-Hartpury, 25 caps)

    Sarah Bern (Bristol Bears, 52 caps), May Campbell (Saracens, uncapped), Bryony Cleall (Harlequins, 7 caps), Poppy Cleall (Saracens, 63 caps), Kelsey Clifford (Saracens, uncapped), Amy Cokayne (Harlequins, 70 caps), Liz Crake (Wasps, uncapped), Lark Davies (Bristol Bears, 44 caps), Rosie Galligan (Harlequins, 9 caps), Detysha Harper (Loughborough Lightning, 5 caps), Sarah Hunter (CC; Loughborough Lightning, 140 caps), Sadia Kabeya (Loughborough Lightning, 8 caps), Poppy Leitch (Exeter Chiefs, 7 caps), Alex Matthews (Gloucester-Hartpury, 56 caps), Maud Muir (Gloucester-Hartpury, 17 caps), Cath O’Donnell (Loughborough Lightning, 24 caps), Marlie Packer (CC; Saracens, 89 caps), Connie Powell (Gloucester-Hartpury, 7 caps), Emily Robinson (Harlequins, uncapped), Hannah, Sims (Harlequins, uncapped), Morwenna Talling (Loughborough Lightning, 5 caps).

    Backs: Holly Aitchison (Saracens, 15 caps), Jess Breach (Saracens, 24 caps), Abby Dow (Harlequins, 30 caps), Elizabeth Duffy (Sale Sharks, uncapped), Tatyana Heard (Gloucester-Hartpury, 9 caps), Natasha Hunt (Gloucester-Hartpury, 60 caps), Leanne Infante (Saracens, 57 caps), Ellie Kildunne (Harlequins, 31 caps), Claudia MacDonald (Exeter Chiefs, 24 caps), Nancy McGillivray (Exeter Chiefs, uncapped), Sarah McKenna (Saracens, 43 caps), Lucy Packer (Harlequins, 9 caps), Amber Reed (Bristol Bears, 62 caps), Helena Rowland (Loughborough Lightning, 22 caps), Ellie Rugman (Gloucester-Hartpury, uncapped), Emma Sing (Gloucester-Hartpury, 2 caps), Lydia Thompson (Worcester, Warriors, 58 caps), Lagi Tuima (Harlequins, 12 caps), Ella Wyrwas (Saracens, uncapped).

    Players unavailable for selection: Hannah Botterman (knee), Vickii Cornborough (personal reasons), Vicky Fleetwood (ankle), Laura Keates (anterior cruciate ligament), Zoe Harrison (anterior cruciate ligament), Emily Scarratt (neck and ankle), Abbie Ward (pregnancy).

    [ad_2]

    Source link

  • Netflix announces a ‘Stranger Things’ stage play is coming to London’s West End

    Netflix announces a ‘Stranger Things’ stage play is coming to London’s West End

    [ad_1]

    (L-R) Actors Noah Schnapp, Caleb McLaughlin and actress Sadie Sink pose after the Stranger Things panel during day 2 of Argentina Comic Con 2018 at Costa Salguero on December 08, 2018 in Buenos Aires, Argentina.

    Ricardo Ceppi | Getty Images | NETFLIX

    A new “Stranger Things” stage spinoff is coming to London’s West End later this year, Netflix announced Wednesday.

    “Stranger Things: The First Shadow,” an adaptation of the popular science fiction series, will premiere at the Phoenix Theatre as the streaming giant’s first live stage production.

    The play will be set in 1959 in the fictional town of Hawkins, Indiana, taking place more than two decades before the show’s first scene. In a press release, Netflix said it will include a handful of the show’s main characters, including the town’s police chief, Jim Hopper, and Joyce Byers’ boyfriend, Bob Newby.

    The play — based on an original story by the Duffer Brothers, Jack Thorne and Kate Trefry — was written by Trefry and will be directed by Stephen Daldry, with co-direction from Justin Martin. It will be produced by Sonia Friedman Productions. Thorne also wrote the stage play for “Harry Potter and the Cursed Child.”

    “You will meet endearing new characters, as well as very familiar ones, on a journey into the past that sets the groundwork for the future of ‘Stranger Things,’” Matt and Ross Duffer said in a statement.

    The “Stranger Things” series debuted in 2016 and has been one of the streaming platform’s most popular shows. Its fourth season tops Netflix’s Most Popular English TV list with 1.35 billion hours viewed.

    In Netflix’s most recent shareholder letter, the company said subscribers watched more returning seasons and sequels in 2022 than in any year prior. Netflix blew away subscriber expectations for the fourth quarter, adding 7.66 million paid subscribers during the fourth quarter.

    The play joins a growing array of in-person events inspired by Netflix films and shows, including the immersive multi-city “Stranger Things: The Experience.” Other events have included balls with “Bridgerton” themes and an escape room live experience based on “Glass Onion: A Knives Out Mystery.”

    Netflix has also been gaining traction in the comedy space with a live standup special starring Chris Rock set for March 4, during which he will discuss Will Smith’s Oscar slap.

    Tickets for “Stranger Things: The First Shadow” are expected to go on sale in the spring.

    [ad_2]

    Source link

  • London is handing out free meals for all primary school children | CNN Business

    London is handing out free meals for all primary school children | CNN Business

    [ad_1]


    London
    CNN
     — 

    London’s mayor has announced an emergency program to provide free meals for all children attending state primary schools in the capital, adding to a string of fresh evidence that Brits are struggling to afford necessities.

    “The cost-of-living crisis means families and children across our city are in desperate need of additional support,” Sadiq Khan, who himself received free school meals as a child, said in a statement Monday.

    The £130 million ($156 million) program will run for the academic year starting in September and save families around £440 ($529) per child. It will also help reduce the “stigma that can be associated with being singled out as low income,” the statement added.

    It is expected to help around 270,000 pupils who, according to estimates by researchers for the city government, would benefit from free school meals but are not currently eligible under national criteria, which are broadly based on household income. On this basis, a quarter of all London pupils, including those in high school, qualify for free school meals, according to official data.

    This number tallies with an estimate by the Child Poverty Action Group that about 210,000 children living in poverty in London don’t qualify for free school meals because the eligibility criteria are “so restrictive.”

    There was further evidence Monday that more and more Brits are struggling to afford food and electricity as inflation, which is near its highest level in four decades, erodes wages and welfare payments.

    A survey of 85 food banks by the Independent Food Aid Network, an advocacy group, found that 89% saw demand increase in December and January, compared with the same period 12 months ago.

    More than 80% of food banks reported a significant number of people needing help for the first time, as well as an increase in the number of people needing ongoing support rather than occasional food parcels. Just over a third of organizations said they had served staff working for the National Health Service (NHS), which has been hit with successive strikes since December over pay and working conditions.

    “Our fastest-growing client group are working people on low wages who cannot make ends meet,” said Su Parrish from The Easter Team, a food bank in Crawley, south of London.

    Parrish added that the food bank had provided a “record” number of Christmas parcels and modified their usual contents as “clients told us they wouldn’t be able to afford to put ovens on, even on Christmas Day.”

    A survey of more than 2,700 UK adults, published by the Office for National Statistics (ONS) on Monday, found that 51% were worried about keeping warm in their homes this winter.

    Some 60% of respondents, who were polled between January 25 and February 5, said they were using less gas or electricity at home to cope with the increased cost of food, fuel and energy bills.

    “We hear horror stories of people living in cold flats keeping their entire energy budget for keeping the fridge going,” said Andi Hofbauer of St Aidan’s FoodShare in Leeds.

    Also on Monday, a separate ONS survey of nearly 18,500 UK adults between September and January found that 34% of those aged 25 to 34 years reported borrowing more money or using more credit than usual compared with a year ago.

    And over half of adults living in rented accommodation said they would be unable to afford an unexpected, but necessary, expense of £850 ($1,000).

    [ad_2]

    Source link

  • Wasps will play in Championship next season but no place for Worcester Warriors

    Wasps will play in Championship next season but no place for Worcester Warriors

    [ad_1]

    Worcester Warriors were taken over by Atlas after it ceased trading last year and the new owners confirmed they have withdrawn from their proposal to play in the RFU Championship for the 2023/23 season last week

    Last Updated: 15/02/23 5:39pm

    The Wasps will play in the Championship next season but Worcester will not

    Wasps have been given approval to take part in the Championship next season but there is no late reprieve for Worcester following their proposed rebranding as ‘Sixways Rugby’.

    While Wasps have met the conditions required to take part in the second tier of English rugby, talks held on Monday between Worcester’s new owners Atlas, the Rugby Football Union and the Department for Digital, Culture, Media & Sport failed to break the deadlock.

    Atlas announced last Thursday that the RFU’s demands for inclusion in the Championship were too onerous, forcing them to instead pursue a merger with semi-professional Stourbridge in the hope of competing in the fourth tier.

    RFU chief executive, Bill Sweeney, said: “Our goal has consistently been to see Wasps and Worcester in the Championship and preserve the clubs for their fans and the wider communities they serve.

    The company which held Worcester Warriors Rugby Club player contracts has  been wound up meaning a player exodus is likely as James Cole reports.

    Please use Chrome browser for a more accessible video player

    The company which held Worcester Warriors Rugby Club player contracts has been wound up meaning a player exodus is likely as James Cole reports.

    The company which held Worcester Warriors Rugby Club player contracts has been wound up meaning a player exodus is likely as James Cole reports.

    “While we had hoped to see both clubs in the Championship next season, we are pleased that following months of work from all parties involved, Wasps will have a place. We know this will be very welcome news to all those connected with the club. We would like to thank all those involved with Wasps for the open and collaborative dialogue over recent months.

    “We appreciate that the disappointment felt by Worcester Warriors staff, players and fans following the Atlas decision will be very significant.

    Worcester Warriors centre Ollie Lawrence says his club being put into administration cannot be allowed to happen to other teams in the Premiership.

    Please use Chrome browser for a more accessible video player

    Worcester Warriors centre Ollie Lawrence says his club being put into administration cannot be allowed to happen to other teams in the Premiership.

    Worcester Warriors centre Ollie Lawrence says his club being put into administration cannot be allowed to happen to other teams in the Premiership.

    “For a club to continue following insolvency, it is imperative that it has a sustainable and funded business plan, that there is transparency about ownership and funding structures, and that rugby creditors are paid.

    “The Atlas decision to withdraw their Championship application leaves the RFU with no regulatory means to enforce the payment of rugby creditors and this responsibility for managing the liabilities of the insolvent club now lies with the administrator of WRFC Trading Limited, and the liquidator of WRFC Players Limited.”

    [ad_2]

    Source link

  • Six Nations 2023: England’s Kyle Sinckler a doubt for Wales game due to facial injury

    Six Nations 2023: England’s Kyle Sinckler a doubt for Wales game due to facial injury

    [ad_1]

    Kyle Sinckler will not take part in this week’s three-day training camp in London having sustained a facial injury in Sunday’s win over Italy; Bath prop Will Stuart returns to the squad having recovered from dislocated elbow but Manu Tuilagi and Ben Youngs are both omitted again

    Last Updated: 14/02/23 2:02pm

    England’s Kyle Sinckler

    Kyle Sinckler’s involvement in England’s next Six Nations game against Wales is in doubt, with the Bristol prop omitted from this week’s training camp due to injury.

    Sinckler was taken off in the 50th minute of England’s 31-14 win over Italy on Sunday with a facial injury, and is now in a race against time to be fit for the game in Cardiff on February 25.

    He will remain with the group to receive treatment but is not among the 26 players that will take part in a three-day camp in London this week.

    The 29-year-old has started both of England’s games so far in this year’s competition, impressing at the set-piece in the opening round defeat by Scotland and the win over Italy.

    If Sinckler is not fit, the battle for the starting tighthead jersey will likely be contested by Leicester’s Dan Cole, who finished the game at Twickenham on Sunday, and the returning Will Stuart.

    Bath’s Stuart has not played since dislocating his elbow in November’s loss to South Africa but has been brought back into the fold for this week’s training camp.

    While Ben Curry is included in the 26-player panel having been dropped from the squad to face Italy, veteran scrum-half Ben Youngs once again misses out as does Manu Tuilagi, who has so far played no part in this year’s competition.

    Having recorded their first win under head coach Steve Borthwick, England will now look to push on against a desperately out-of-form Wales, who sit bottom of the Six Nations table as the only side not to have collected a point from the opening two rounds.

    England 26-man training camp squad

    Forwards: Ollie Chessum, Dan Cole, Ben Curry, Alex Dombrandt, Ben Earl, Ellis Genge, Jamie George, Nick Isiekwe, Maro Itoje, Lewis Ludlam , Will Stuart, Mako Vunipola, Jack Walker, Jack Willis.

    Backs: Henry Arundell, Owen Farrell, Ollie Hassell-Collins, Ollie Lawrence, Max Malins, Joe Marchant, Alex Mitchell, Henry Slade, Marcus Smith, Freddie Steward, Jack van Poortvliet, Anthony Watson.

    [ad_2]

    Source link

  • Steve Borthwick: England head coach keen to understand habit of fading late in Six Nations games

    Steve Borthwick: England head coach keen to understand habit of fading late in Six Nations games

    [ad_1]

    England were beaten 29-23 by Scotland in their Six Nations opener before defeating Italy 31-14 on Sunday; Steve Borthwick wants to eradicate issues ahead of matches against Wales, Ireland and France ahead of the World Cup later this year

    Last Updated: 13/02/23 11:23pm

    Steve Borthwick has led England to one victory and one defeat from his first two matches

    Steve Borthwick is to urgently investigate England’s habit of fading that has been evident in his two matches in charge, knowing it could leave his players with regrets.

    England threw away a 20-12 lead with half an hour remaining of their Guinness Six Nations opener against Scotland and were also one point in front heading into the final 10 minutes, before ultimately falling 29-23.

    Borthwick’s side also lost the second half 14-12 against Italy, with tension hanging in the Twickenham air until Henry Arundell produced a slick finish in the 71st minute to quell the Azzurri uprising.

    England head coach Steve Borthwick speaks after his side beat Italy at Twickenham in the Six Nations

    Please use Chrome browser for a more accessible video player

    England head coach Steve Borthwick speaks after his side beat Italy at Twickenham in the Six Nations

    England head coach Steve Borthwick speaks after his side beat Italy at Twickenham in the Six Nations

    England face a fraught trip to Cardiff next followed by clashes with the world’s two best teams in France and Ireland, with Borthwick making a priority of identifying why they are vulnerable in the second half.

    “At eight points up I would expect to win that game against Scotland, said Borthwick, who replaced the sacked Eddie Jones in December. “There was another point we were four points up and we let it slip.

    “As we move forward with this team, as we coach and understand, we will be debriefing those things really fully so we don’t let those opportunities slide. You can’t rewind the clock. I talked about my regrets as a player and I don’t want these players to have regrets.

    Sky Sports News' James Cole analyses Steve Borthwick's selection decisions for his first Six Nations squad as England head coach, and a surprise move for his predecessor Eddie Jones

    Please use Chrome browser for a more accessible video player

    Sky Sports News’ James Cole analyses Steve Borthwick’s selection decisions for his first Six Nations squad as England head coach, and a surprise move for his predecessor Eddie Jones

    Sky Sports News’ James Cole analyses Steve Borthwick’s selection decisions for his first Six Nations squad as England head coach, and a surprise move for his predecessor Eddie Jones

    “We let one slip against Scotland and we made sure we fully debriefed it to learn from it. Against Italy, there was a period late in the game where we let momentum get away from us. I really need to understand why it happened and how it happened.

    “We can’t keep letting teams have momentum late in games against us. Clearly we let Italy out of their half, which is exactly what happened against Scotland. Systems take time.”

    2003 World Cup winner Ben Cohen feels Steve Borthwick and England have a lot of work to do as they continue their build-up to the World Cup

    Please use Chrome browser for a more accessible video player

    2003 World Cup winner Ben Cohen feels Steve Borthwick and England have a lot of work to do as they continue their build-up to the World Cup

    2003 World Cup winner Ben Cohen feels Steve Borthwick and England have a lot of work to do as they continue their build-up to the World Cup

    England ‘a bit behind’ Ireland and France

    On the day before England’s pack bullied their Italian counterparts, Ireland and France fought out a seismic title clash in Dublin that saw a ball-in-play time of 46 minutes.

    Andy Farrell’s men came out on top and are destined to arrive at the World Cup later this year as the global game’s number one ranked team, while France have the talent to ensure the setback is only temporary.

    Ireland claimed a 32-19 victory over France in Dublin on Saturday

    Ireland claimed a 32-19 victory over France in Dublin on Saturday

    “It was an incredible Test match,” Borthwick said, having watched the match. “The standard of those teams is phenomenal. If you can use this four-year cycle really well, you should be in a good situation right now and they are. If you look at them they are strong. We are a bit behind them.

    “I can’t tell you how much, but we are behind them. I can’t do anything about where they are but we are going to work really hard to catch up as fast as we can.”

    Borthwick inherited a team that endured a dismal 2022, resulting in Jones being removed as head coach, and he insists there is no fast-track to success.

    Will Greenwood says more time and work is needed for Steve Borthwick to improve the overall quality of his side

    Please use Chrome browser for a more accessible video player

    Will Greenwood says more time and work is needed for Steve Borthwick to improve the overall quality of his side

    Will Greenwood says more time and work is needed for Steve Borthwick to improve the overall quality of his side

    “We are going to do the best we can to be as good as we can be. This is a process of a rebuild,” he said. “I get the sense that people recognise this is a rebuild, I get a sense they recognise there is plenty to do here and we need to build some strengths here.

    “The players have come through a tough time and I am asking them to do things in a different way and go out on the field and bring their strengths. I felt that against Italy they started to embrace that. Last week there was a reticence to really jump right in. That is what I want them to do.”

    What’s Next?

    England head to Cardiff on Saturday February 25 to face a struggling Wales who are yet to get a win in this year’s championship (4.45pm). For Italy, a home clash awaits against Grand Slam hopefuls Ireland (2.15pm).

    [ad_2]

    Source link

  • Ukraine’s Zelenskyy expected to ask for more aid from European leaders in Brussels trip

    Ukraine’s Zelenskyy expected to ask for more aid from European leaders in Brussels trip

    [ad_1]

    Ukrainian President Volodymyr Zelenskyy addresses parliamentarians in Westminster Hall on Feb. 8, 2023, in London, England.

    Wpa Pool | Getty Images News | Getty Images

    BRUSSELS — Ukrainian President Volodymyr Zelenskyy is meeting European leaders on Thursday as he continues his second major trip abroad since Russia invaded Ukraine.

    The Ukrainian leader is expected to address the European Parliament Thursday morning and then attend an extraordinary meeting of the 27 EU heads of state later in the day.

    The discussions in Brussels come after a surprise visit to the United Kingdom on Wednesday and a last-minute meeting with French and German leaders in Paris that evening. It is the second time that Zelenskyy is known to have left Ukraine since Russia invaded the country on Feb. 24 last year.

    The president is using his time abroad to thank allies for their support so far, while also asking for further commitments at a time when Ukrainian authorities are expecting a large-scale offensive by the Russians.

    In London on Wednesday, Zelenskyy brought a helmet from a Ukrainian pilot with the message “we have freedom, give us wings to protect it.”

    Last month, Zelenskyy asked Ukraine’s allies for fighter jets — a request that has so far not received the greenlight from Western nations. However, the U.K. said Wednesday it will provide training to Ukrainian pilots to fly fighter jets, and British Prime Minister Rishi Sunak said nothing was off the table when it comes to supporting Ukraine.

    In Paris, Zelenskyy was also very clear with his requests to the French and German heads of state. “The sooner we get heavy long-range weapons and our pilots get modern planes, Emmanuel, the earlier our pilots can get modern planes, Olaf, the more powerful will be our tank coalition,” Zelensky said.

    [ad_2]

    Source link

  • UK energy giant BP’s profits double to $27.7 billion

    UK energy giant BP’s profits double to $27.7 billion

    [ad_1]

    LONDON (AP) — British energy firm BP reported record annual earnings Tuesday, fueling demands that the U.K. government boost taxes for companies benefiting from the high price of oil and natural gas after Russia’s invasion of Ukraine.

    London-based BP said underlying replacement cost profit, which excludes one-time items and fluctuations in the value of inventories, jumped to $27.7 billion in 2022 from $12.8 billion a year earlier. That beat the $26.8 billion BP earned in 2008, when tensions in Iran and Nigeria pushed world oil prices to a record of more than $147 a barrel.

    BP also increased its quarterly dividend by 10% and announced plans to buy back an additional $2.75 billion of stock from shareholders.

    But the good news for BP shareholders is likely to be tempered by the public fallout, particularly in its home country. High oil and gas prices have hit Britain hard, with double-digit inflation fueling a wave of public-sector strikes, soaring food bank use and demands that politicians expand a tax on the windfall profits of energy companies to help pay for public services.

    Ed Miliband, the opposition Labour Party’s spokesman on climate issues, called on the U.K. government to bring forward a “proper” windfall tax on energy companies.

    “It’s yet another day of enormous profits at an energy giant, the windfalls of war, coming out of the pockets of the British people,″ Miliband said.

    Similar censure was directed at London-based Shell last week, when it said annual earnings doubled to a record $39.9 billion last year.

    Bumper profits for energy companies worldwide have sparked demands that the fossil fuel industry do more to offset high energy bills even as they cut climate-damaging carbon emissions. U.S.-based Exxon Mobil posted record earnings of $55.7 billion last week.

    Last year, Britain approved a 25% windfall tax on earnings from oil and gas produced in the U.K., with the levy increasing to 35% in 2023. Opposition leaders have criticized the government for allowing energy companies to reduce the tax by investing in the U.K.

    BP said it took a charge of more than $1.8 billion last year to cover the new U.K. tax.

    The company also took charges of $25.5 billion as the result of its decision to exit its investments in Russia after the invasion of Ukraine.

    After including one-time items and fluctuations in the value of inventories, BP posted a net loss of $2.49 billion for 2022, compared with net income of $7.57 billion the previous year.

    BP on Tuesday said it would boost investment in renewable energy, hydrogen and electric vehicle charging as well as its oil and gas businesses, plowing an additional $8 billion into the two segments through 2030.

    The investments will push oil and gas production to about 2 million barrels of oil equivalent a day in 2030. While the new target is 25% lower than in 2019, BP previously planned to cut production by 40%.

    “We will prioritize projects where we can deliver quickly, at low cost, using our existing infrastructure, allowing us to minimize additional emissions and maximize both value and our contribution to energy security and affordability,” chief executive Bernard Looney said in a statement.

    Energy prices soared after the invasion of Ukraine. Brent crude, a benchmark for global oil prices, averaged $101.32 a barrel last year, 43% higher than in 2021. The average wholesale price of natural gas in Britain jumped 76%.

    Prices have dropped in recent months, with Brent crude averaging $88.87 in the fourth quarter.

    “The question becomes, what will they do with record profits and operating cash flow? Governments are already questioning record profits from other peer global energy companies,″ said Gianna Bern, an oil expert and professor of finance at the Mendoza College of business at the University of Notre Dame. “In an environment of record inflation and gas prices for the consumer, global energy companies will be compelled to reassess the cost and availability of energy for all.″

    Alice Harrison, fossil fuels campaign leader at environmental advocacy nonprofit Global Witness, said BP’s profits were made “on the back of three global crises” — the war in Ukraine, the energy crisis and climate breakdown.

    “For those struggling, these mammoth profits will be a bitter pill to swallow,” Harrison said. “There are no two ways about it — BP is richer because we’re poorer.’’

    [ad_2]

    Source link

  • ABC’s ‘Not Dead Yet’ is a comedy with a weekly ghost story

    ABC’s ‘Not Dead Yet’ is a comedy with a weekly ghost story

    [ad_1]

    NEW YORK (AP) — While TV writers Casey Johnson and David Windsor were winding down the emotional roller coaster series “This Is Us,” they had another project waiting to soar — one with ghosts.

    Their new “Not Dead Yet,” about a newspaper obituary writer haunted by the subjects she is writing about, lands on ABC this week, less than a year after viewers bid goodbye to “This Is Us” characters Randall, Kate and Kevin.

    “With the end of that show, it was a lot about death. And here we were at the same time giving birth to this other baby,” said Windsor. “It was sort of a nice cycle of life.”

    In “Not Dead Yet,” airing Wednesday, Gina Rodriguez plays Nell, a newly single reporter who returns to her California newspaper 10 years after she quit to follow a love interest to London. Things have changed for everyone.

    She lands on the obituary desk — “Everyone has a story. It’s your job to find it,” she is told — and in the pilot is soon visited by the ghost of her first story. It does not go well.

    “No, uh-uh, I do not see dead people,” she tells the spirit. “This has just got to be the chili cheese fries and the cake and the five cocktails and maybe the half gummy I ate.” To which the ghost deadpans: “Go easy there, Keith Richards.”

    The use of a new ghost each week allows Nell to explore other lives and experiences, and they, in turn, help advise a women who admits she’s a mess, someone who drinks a little too much and wears bathing suit bottoms when she runs out of clean underwear.

    “There’s two things about the people who’ve passed away,” says Johnson. “What can they bring up in Nell’s life that she can explore and what can she learn from this person’s life that’s specific to them. So it’s just kind of this rich territory.”

    Some of the ghosts Nell meets include a jingle writer who teaches Nell about one-hit wonders, a hard-charging success coach who reveals not all advice is useful and a social media influencer who brings up hurt memories of high school. It airs while another spirt-filled comedy — CBS’ “Ghosts” — has begun its second season.

    “Not Dead Yet” co-stars Hannah Simone from “New Girl” as Nell’s best friend, “Superstore” alumna Lauren Ash as her chilly boss, “Cleopatra Jones” star Angela Gibbs as a new friend and “As We See It” star Rick Glassman as her roommate.

    Guest star ghosts over the first series include Martin Mull, Ed Begley Jr., Mo Collins, Deborah S. Craig, Telma Hopkins, Don Lake, Rhea Perlman, Paula Pell, Tony Plana and Julia Sweeney.

    Johnson and Windsor, who created and executive produced “The Real O’Neals,” were coming off a three-year run as co-executive producers of “This Is Us” and based their new series on a book by Alexandra Potter. They managed to get the series filmed before Rodriguez gave birth.

    Both writers had mourned the recent passing of a parent and found themselves missing their loved ones and wishing they still had their guidance.

    “It was almost wish fulfillment thinking like, ‘Wow, what would happen if we could talk to them? What would happen if we could seek them out and and get their advice?’” said Windsor.

    Johnson and Windsor had primarily done comedies before “This Is Us” but they always tried to give their shows a dramatic, emotional heart. “Not Dead Yet” has elements of both.

    “We were wondering if there was a way to kind of meld the two worlds,” said Johnson. “Can we do a comedy that has hard jokes and is a lot of fun, but then also goes for these really emotional, real moments? To us as writers, that was a really exciting experiment and we were really thrilled that ABC was on board.”

    “Not Dead Yet” is also a workplace show, one that makes fun of co-workers who bring large salads to work and the cliques that form, like the adult jocks and the forever nerds.

    Johnson notes that leading a TV show mirrors a lot of office culture and offers plenty to mine: “We’re in a writers’ room with bad fluorescent lights and dried up Sharpies and lunches out of plastic containers,” she said, laughing.

    They said that when writing episodes there were times when the notion of the ghost came first and other times the idea for Nell to explore something in her life dictated the arrival of a certain ghost.

    For the episode when Nell confronts a nemesis from high school — guest actor Brittany Snow plays her perfectly as a conceited adult social influencer — the writers started with a past bully.

    “We knew we wanted to tell that story because we thought that was so unique and potentially funny,” said Johnson. “We didn’t yet know what story we wanted to tell for Nell. So the ghost came first. And then we found the story that we wanted to do. But I think in other instances, it’s come a different way.”

    The writing duo have many more ghosts on tap. Windsor said the writers room has about 100 cards of potential dead people. “We just can’t wait to tell them all. Hopefully we get the second, third, fourth season to do it.”

    ___

    Mark Kennedy is at http://twitter.com/KennedyTwits

    [ad_2]

    Source link

  • British sailors hospitalized after drinking water on naval ship

    British sailors hospitalized after drinking water on naval ship

    [ad_1]

    A Royal Navy warship has returned to port in Britain after several sailors got sick from the vessel’s drinking water, officials said Saturday. 

    The navy said frigate HMS Portland had returned to its base at Portsmouth on England’s south coast on Friday “as a precautionary measure, following an issue with one of the ship’s fresh water systems.”

    It said “a small number of personnel were taken to hospital as a precaution.”

    Britain Navy Frigate
    The British frigate HMS Portland heads through the Suez canal, in Ismailia, Egypt Wednesday, Dec. 3, 2008. 

    Anonymous / AP


    The Daily Telegraph reported that a crew member put the wrong chemicals into the system that converts sea water to drinking water, but quickly realized the mistake and reported it to their superiors.

    In recent months HMS Portland, a Type 23 frigate, has tracked Russian submarines in the North Sea, and helped monitor a Russian frigate and accompanying tanker as they sailed in international waters near the U.K.


    [ad_2]

    Source link

  • Watch live: ECB President Christine Lagarde speaks after rate decision

    Watch live: ECB President Christine Lagarde speaks after rate decision

    [ad_1]

    [The stream is slated to start at 8:45 a.m. ET. Please refresh the page if you do not see a player above at that time.]

    European Central Bank President Christine Lagarde is due to give a press conference following the bank’s latest monetary policy decision.

    The ECB on Thursday confirmed expectations of a 50 basis point interest rate increase, taking its key rate to 2.5%.

    In a statement, it pledged to “stay the course in raising interest rates significantly at a steady pace” and, in unusually firm language, said it intended to hike by another 50 basis points in March.

    Subscribe to CNBC on YouTube. 

    [ad_2]

    Source link