UK borrowing jumps unexpectedly, adding to pressure on Rachel Reeves | Government borrowing
The UK government's borrowing unexpectedly surged to £17.8bn last month, increasing pressure on Rachel Reeves to plan budget cuts ahead of the summer spending review. The Treasury's independent economic forecaster said the rise was mainly due to local authorities borrowing an extra £4.1bn, in contrast to central government departments sticking to their borrowing limits. The […]
Pound Sterling slumps as UK Retail Sales declines unexpectedly – FXStreet
Sterling is underperforming major currencies as weak UK retail sales data strengthens the case for a BoE interest rate cut in February. UK monthly retail sales fell by 0.3% in December, despite expectations for strong growth of 0.4%. The US dollar rose despite a slight acceleration in the Fed's dovish outlook. Sterling (GBP) fell sharply […]
Rutgers star Kiyomi McMiller unexpectedly benched again
Rutgers University freshman star Kiyomi McMiller has been left out of the Scarlet Knights women's basketball team for the second consecutive game amid speculation about her future with the program. McMiller was suspended from Saturday's game against No. 4 USC due to a “coach's decision,” and the former five-star recruit posted an apology to fans […]
German Soccer Club ‘Stunned’ After 22-Year-Old Player ‘Unexpectedly’ Dies
Luka Meixner, a soccer player for German club SSV Reutlingen 05, passed away “unexpectedly,” the club said in a statement on Saturday. He was 22 years old. “Last weekend we received the sad news that our player Luka Mixner passed away on Friday 12/27. Passed away suddenly at the age of 22,” SSV Reutlingen 05 […]
Pound Sterling slumps as UK GDP, factory output unexpectedly contract in October – FXStreet
The pound slumped after data showed the UK's monthly GDP fell by an astonishing 0.1% in October. British industrial and manufacturing production also fell month-on-month in October. Investors expect the Fed to pause policy easing in January after cutting rates next Wednesday. The British pound (GBP) fell sharply against major currencies on Friday after Britain's […]
USD/CHF advances to near 0.8900 as SNB unexpectedly cuts interest rates by 50 bps – FXStreet
The US dollar/Swiss franc pair soared to nearly 0.8900 after the Swiss central bank cut its main borrowing rate by 50 basis points to 0.5%, in response to expectations for a 25 basis point rate cut. Swiss National Bank Governor Schlegel held off on the option of negative interest rates in his previous comments in […]
How ‘the science’ is unexpectedly taking us closer to faith
From drinking wine through a mask to excluding family members by refusing to vaccinate to blaming neighbors you know, the COVID-19 pandemic is forcing people around the world to take their faith to a whole new level. I pulled it up. “Science suddenly became this kind of new god, and it's probably because of that […]
Job Openings Unexpectedly Surge But 1/3 Are Government Work
U.S. job openings unexpectedly surged in August, the first increase in three months, driven by increases in government, construction, shipping and warehousing jobs. The number of U.S. job vacancies reached 8 million as of the last business day of August, surpassing the 3-1/2-year low of 7.7 jobs set in July, the Labor Department said in […]
Retail Sales Unexpectedly Rose in August, Lowering Chances of a Bigger Rate Cut
U.S. consumers unexpectedly increased spending in August, defying expectations that a softening labor market would dampen retail purchases. Retail sales rose 0.1% in August, Commerce Department data released Tuesday showed, after an upward revision to a 1.1% increase the previous month. While rising sales are unlikely to derail the Federal Reserve's plans to cut interest […]
US retail sales unexpectedly rise, lowering odds for big rate cut
U.S. retail sales unexpectedly rose last month, a surprisingly strong result that likely reduces the likelihood of a big interest rate cut from the Federal Reserve this week. Retail purchases rose 0.1% in August, Commerce Department data released Tuesday showed, beating economists' expectations of a 0.2% decline as cash-strapped consumers showed resilience despite a shaky […]