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Tag: United Kingdom

Stocks sink to new low for 2022, closing dismal month with mounting recession fears
Business

Stocks sink to new low for 2022, closing dismal month with mounting recession fears

Wall Street is at its worst levels in almost two years Friday as the end nears for what's been a miserable month for markets around the world. The S&P 500 closed down 1.5%, at 3,585, after flipping between small losses and gains through the morning. It's at its lowest level since the early 2020 coronavirus crash and its third straight losing quarter. The Dow Jones Industrial Average closed down 500 points, or 1.7%, and the Nasdaq composite was down 1.5%. Fed rate hike decision raises recession fears on Wall Street 06:04 Global inflationThe main reason for this year's struggles for financial markets has been fear of a possible recessio...
Stocks plunge, dragging Wall Street toward another down week
Business

Stocks plunge, dragging Wall Street toward another down week

Wall Street suffered sharp declines on Friday as recession fears took hold of investors following the Federal Reserve's latest interest-rate hike. Major U.S. indices finished the week with losses for the fourth time in five weeks. Markets sold off around the world on mounting signs the global economy is weakening just as central banks raise the pressure even more with additional hikes to interest rates. The S&P 500 fell 64 points to 3,693, or 1.7%, close to its 2022 low. The Dow Jones Industrial Average dropped 486 points, or 1.6%, its lowest point of the year. The Nasdaq fell 1.8%.Energy prices also closed sharply lower as traders worried about a possible recession. Treasury yields, which affect rates on mortgages and other kinds of loans, held at multiyear highs. U.K. gove...
Barclays Shareholders Sue in U.S. Over $17.6 Billion Debt Sale Blunder
News

Barclays Shareholders Sue in U.S. Over $17.6 Billion Debt Sale Blunder

NEW YORK (Reuters) - Barclays Plc was sued on Friday in a proposed U.S. class action in which shareholders claimed they were defrauded in connection with the British bank's sale of $17.6 billion more debt than regulators had allowed.A complaint filed in the U.S. District Court in Manhattan by two Florida pension plans seeks to hold Barclays responsible for declines in the prices of its American depositary receipts (ADR)as costs mounted over the blunder.The complaint said Barclays made "materially false and misleading" assurances in its annual reports that its internal controls over financial reporting were effective.It also said the bank overstated profit, and understated operating and "litigation and conduct" expenses, by failing to disclose the overissuance in its 2021 earnings releas...
Factbox-Windsor Castle, Queen Elizabeth’s Home and Now Final Resting Place
News

Factbox-Windsor Castle, Queen Elizabeth’s Home and Now Final Resting Place

LONDON (Reuters) - Queen Elizabeth will be buried alongside her husband Prince Philip in a small chapel in the grounds of Windsor Castle in a private ceremony after her state funeral on Monday.Her parents were also laid to rest in St. George's Chapel.Elizabeth's funeral will be held at Westminster Abbey, before the coffin is driven to Windsor Castle, just west of London.* Windsor Castle is the resting place of more than a dozen English and British kings and queens. Most are buried in St. George's Chapel, including Henry VIII, who died in 1547, and Charles I, who was beheaded in 1649.* Founded by William the Conqueror in the 11th Century, it is the oldest and largest occupied castle in the world, according to the Royal Collection Trust website. It has been the home of 40 monarchs, includ...
‘Dearest Grannie’, We Miss You
News

‘Dearest Grannie’, We Miss You

LONDON (Reuters) - Princesses Beatrice and Eugenie issued a tribute to their "dearest grannie" on Saturday, saying how much they missed the late Queen Elizabeth and had thought she would be around forever."We've not been able to put much into words since you left us all," said the two princesses, the daughters of Prince Andrew, the queen's second son and Duke of York."There have been tears and laughter, silences and chatter, hugs and loneliness, and a collective loss for you, our beloved queen and our beloved grannie."Beatrice, 34, and Eugenie, 32, will join their cousins later on Saturday for a vigil by the coffin of Elizabeth at Westminster Hall where the body of the late monarch is now lying in state.Eugenie was seen wiping away tears when she appeared in the days immediately after h...
Man struck by lightning while playing PlayStation in his living room
Entertainment

Man struck by lightning while playing PlayStation in his living room

No, he’s not Ben Franklin — nor is he Thor. A UK man was rushed to the emergency room last Monday after he was struck by lightning while playing video games in his living room. Aiden Rowan was “happily playing” video games on his PlayStation around 10:30 p.m. when he heard a loud crack followed by a “heavy jolting sensation.” “So, I am absolutely not one for sympathy posts, I had to share this because of how insane it is,” gamer and cosplayer Rowan, 33, wrote to his 13,900 on Instagram followers. “[There was] a loud bang and … 5 hours at the hospital confirmed that I was STRUCK BY LIGHTNING through the open window! Never going to play cute cat games during a thunderstorm again. I’m fine, just very sore, hell of a headache and burn stripes down my arm....
Queen Elizabeth II’s coffin makes somber journey through Scotland
Politics

Queen Elizabeth II’s coffin makes somber journey through Scotland

Edinburgh, Scotland — In a somber, regal procession, Queen Elizabeth II's flag-draped coffin was driven slowly through the Scottish countryside Sunday from her beloved Balmoral Castle to the Scottish capital of Edinburgh. Mourners packed city streets and highway bridges or lined rural roads with cars and tractors to take part in a historic goodbye to the monarch who had reigned for 70 years.The hearse drove past piles of bouquets and other tributes as it led a seven-car cortege from Balmoral, where the queen died Thursday at age 96, for a six-hour trip through Scottish towns to Holyroodhouse palace in Edinburgh. The late queen's coffin was draped in the Royal Standard for Scotland and topped with a wreath made of flowers from the estate, including sweet peas, one of the queen's ...
King Charles III formally proclaimed Britain’s new monarch in centuries-old Accession Council ceremony
Entertainment

King Charles III formally proclaimed Britain’s new monarch in centuries-old Accession Council ceremony

King Charles III, the world's newest monarch, was officially proclaimed sovereign of the United Kingdom of Great Britain and Northern Ireland on Saturday morning in a constitutional ceremony that dates back hundreds of years. Almost 700 members of the current Accession Council, the oldest functioning part of Britain's government, were called to convene Saturday at St James's Palace in London, the official residence of the U.K.'s kings and queens for centuries.The council is comprised of Privy Counsellors, a select group of senior politicians, including new Prime Minister Liz Truss, religious figures from the Church of England, the Lord Mayor of London and a bevy of other top civil servants from across British society and the 14 other "realms," or nations, for which the monarch s...
Ozzy Osbourne says he’s leaving the U.S. because of rampant gun violence: “I’m fed up with people getting killed every day”
Entertainment

Ozzy Osbourne says he’s leaving the U.S. because of rampant gun violence: “I’m fed up with people getting killed every day”

Ozzy Osbourne says he's done living in the United States – because of gun violence. The English-born iconic lead singer of Black Sabbath and TV personality announced his reasoning for calling it quits on the U.S. in a recent interview with The Guardian, saying that the violence is "f***ing crazy." In the interview, published on Sunday, the couple shared that they are moving back to the United Kingdom in February. Their 1920s Los Angeles mansion, Hancock Park estate, has been on the market for $18 million since July, according to the Los Angeles Times. Osbourne's wife, Sharon, a TV personality in her own right who co-hosted CBS daytime show The Talk from 2010 to 2021, told The Guardian that "it's just time" for the couple to return to the U.K. ...
European Shares Dip as U.S. Inflation Data Looms; Ahold Jumps
News

European Shares Dip as U.S. Inflation Data Looms; Ahold Jumps

(Reuters) -European shares edged lower on Wednesday on losses in technology stocks ahead of key inflation data from the United States, while gains in supermarket major Ahold Delhaize kept declines in check.The pan-European STOXX 600 index dipped 0.1%, tracking a second straight session of losses after a strong start to the week.A higher-than-expected U.S. Consumer Price Index report for July could spook markets after a surprisingly robust hiring report last week. Markets are expecting a high chance of a 75 basis point interest rate hike by the Federal Reserve next month as the U.S. central bank remains focused on taming decades-high inflation."Markets seem to be going into today's all-important U.S. CPI a little on the apprehensive side," Deutsche Bank strategist Jim Reid wrote."It's ce...