
ALEX BRUMMER: Pound's mixed blessing in a world with higher trade barriers
Gone should be the days when money changers at Heathrow and other airports would offer sterling and dollar parity at best.
In recent trading the pound stood at a healthy $1.34 and had also perked up against the euro.
This might seem odd. After all, there have been days of dire headlines highlighting Britain's fiscal weakness and the likelihood of further tax increases this autumn, after last October's £40billion bombshell.
Moreover, the Bank of England's reluctant cut in interest rates to 4 per cent last week came with a sting.
The pace of further cuts will be slower because UK inflation is heading towards 4 per cent. That's almost twice the pace in the EU. The Bank is finding it hard to tame inflation due to a poorly designed energy policy, the rising cost of services and demands for ever higher pay despite a weakening jobs market.
Historically, the City and political establishment regarded the valuation of the pound, especially against our single biggest trading partner the US, as a barometer of performance. It was the collapse of sterling which forced the UK into the hands of the International Monetary Fund way back in 1976.
The pound tumbled to frighteningly low levels as markets absorbed the impact of Liz Truss's mini-Budget in 2022. So why has the pound risen in recent months?
Trump's 'Liberation Day' tariff mayhem in April sent investors scuttling out of the dollar. The result has been gold prices at a record and a rally for crypto. More serious investors diversified into the euro, the Swiss franc and even the pound.
This trend was accentuated by Donald Trump's 'big, beautiful' tax bill which is estimated eventually to add $2.4trillion (£1.78trillion) to the US gross national debt. It already stands at a hefty 120 per cent of total output. Investors in sterling will also enjoy higher returns than in Europe, with the bank rate expected to stay at 4 per cent until at least November.
The official rate for deposits at the European Central Bank in Frankfurt is 2 per cent and there are expectations that America's borrowing costs also are heading down. The economic impact of the stronger pound is two-fold.
The Bank of England's August monetary policy report shows a benefit. The stronger the pound, the bigger the barrier it offers against inflation brought in from overseas. Import prices are projected to fall 1.25 per cent this year, with some smaller decreases in future years. Dollar-priced energy costs should also decline.
In the past, when the UK has been in trouble governments have reached for the tool of devaluation. Arguably the last period of robust growth for Britain came when the pound fell out of the exchange rate mechanism in 1992, triggering a stronger export performance.
But a stronger pound makes the UK less competitive. That is not a great place to be in a more fragmented world with higher trade barriers. Visitors to London will find it more expensive than ever. More reason for Rachel Reeves to stop penalising tourists (and British retail) by failing to refund VAT on goods purchased here. It is driving deep-pocketed shoppers overseas.
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Reuters
28 minutes ago
- Reuters
Stock dip, US yields fall as markets brace for big week for trade, geopolitics
NEW YORK/LONDON, Aug 11 (Reuters) - Global equity markets edged lower in a choppy session while long-dated U.S. Treasuries fell on Monday, as investors braced for a week packed with closely-watched developments on trade and geopolitics in addition to key U.S. economic data. A U.S. tariff deadline on China, due to expire on Tuesday, is expected to be extended again, while U.S. President Donald Trump and Russian President Vladimir Putin are due to meet in Alaska on Friday to discuss ending the Ukraine war. On Wall Street, the benchmark S&P 500 index and the Dow were trading slightly lower, while the Nasdaq was down. Energy and materials stocks were driving losses while healthcare and consumer discretionary shares were making gains. The Dow Jones Industrial Average (.DJI), opens new tab fell 0.33%, the S&P 500 (.SPX), opens new tab fell 0.02% to 6,390.92 and the Nasdaq Composite (.IXIC), opens new tab rose 0.11%. In Europe, the STOXX 600 (.STOXX), opens new tab index fell 0.07%. MSCI's gauge of stocks across the globe (.MIWD00000PUS), opens new tab was down 0.11% to 940.16, trading near its all-time record high reached in July. "At the surface level the market is flat and calm and it looks like we are in wait-and-see mode to what the economic data will we are going to get tomorrow; all eyes on the CPI," Wasif Latif, chief investment officer at Sarmaya Partners in New Jersey, said. "When you look underneath the covers and at the breakdown within the market, you're getting a little bit more of a selloff." The main economic release this week will be U.S. consumer prices on Tuesday, with analysts expecting the impact of tariffs to help nudge the core up 0.3% to an annual pace of 3% and away from the Federal Reserve target of 2%. An upside surprise would challenge market wagers for a September rate cut, though analysts assume it would have to be a very high number given that a downward turn in payrolls is now dominating the outlook. Markets imply around a 90% probability of a September easing, and at least one more cut by year-end. The yield on benchmark U.S. 10-year notes fell 1 basis point to 4.273%, while the 30-year bond yield fell 1.7 basis points to 4.8373%. Trump having repeatedly criticised the Fed for not cutting rates at recent meetings, and markets are eyeing who will succeed current chair Jerome Powell, whose term ends in May. This, said Paul Mackel, Global Head of FX Research at HSBC, meant that the dollar's reaction to the CPI data would not be straightforward. If the figure indicated higher U.S. tariff price pressures, "that could support the stagflation narrative, and to the dollar's detriment", he said, adding that this would also go against the view of some policymakers that tariffs were not causing prices to increase. "If, however, softer U.S. CPI readings materialise, including the core goods figures, this would likely challenge the dollar too by supporting the case for further Fed easing, and perhaps see greater criticism from the U.S. administration towards Fed Chair Powell." The dollar strengthened 0.2% to 148.01 against the Japanese yen and was up 0.59% to 0.813 against the Swiss franc . The euro was down 0.32% against the dollar at $1.1602. The dollar index rose 0.37% to 98.59. The Australian dollar eased 0.26% to $0.6507 ahead of a meeting of the Reserve Bank of Australia, which is widely expected to back a rate cut. It stunned markets in July by skipping an easing of policy to await more inflation data. Gold prices fell 1.53% to $3,346/58 an ounce after wild swings last week on reports that the U.S. would slap 39% tariffs on some gold bars, which are major exports of Switzerland. The White House has said it planned to issue an executive order clarifying the country's stance. Oil prices edged lower as investors looked ahead to the talks between Trump and Putin in Alaska on Friday, with U.S. policy towards Russian oil exports in focus. Brent fell 0.26% to $66.42 a barrel, while U.S. crude dropped 0.17% to $63.77.


The Sun
30 minutes ago
- The Sun
Our guide to the best snooker betting sites in the UK (2025)
SNOOKER has always been a popular sport among UK bettors, but it is experiencing a significant moment right now. A generation of new stars has risen to challenge the old guard, and the sport is receiving more international attention than ever before, with new stars like China's Zhao Xintong and Belgium's Luca Brecel emerging. In this guide to the best snooker betting sites in the UK, we'll take a look at how the sport is changing, the best bookies to use for snooker betting, the best markets to bet on, and more. Our top 10 snooker betting sites 🔎 A closer look at the best snooker betting sites in the UK The snooker betting scene in the UK is booming right now, and some of the biggest bookmakers are getting in on the act. After careful consideration and after using our Sun Factor review system to compare sites, we have put together the following list of the 10 best bookmakers in the UK right now. 1. bet365 bet365 is always my first port of call when it comes to snooker betting. The site offers exceptional odds year-round and has some of the most in-depth coverage of events you will find in the UK. While many bookmakers will offer price boosts during the Triple Crown events, bet365 remains consistent during the smaller ranking events too. We have also found it has excellent prices and bonuses during the Triple Crown events, with its World Championship odds often being unrivalled. There is also a healthy amount of promotions for general sports, which punters can take advantage of. 2. Coral If you are looking for excellent live snooker betting, Coral could well be the site for you. We have always found Coral to offer some of the live prices, with its in-play boosts during the UK Championships and the Masters standing out. Coral also provides live streams for ranking events throughout the year, further enhancing the live-betting experience. The operator runs many top sports promotions throughout the year, and while there are not many snooker-specific promotions, there are plenty of sports promotions that can be used for snooker betting. 3. Betway Betway is another household name that has exceptional snooker coverage. The operator runs several features, including its free bets club and Betway Boosts, that are particularly useful for snooker betting. In terms of coverage, the site has brilliant odds throughout the Triple Crown events and also has a wide selection of markets for many of the smaller, ranking events that take place throughout the year. 4. BetMGM BetMGM has burst onto the UK betting scene in recent years and has wasted no time in demonstrating it understands what UK bettors want. The snooker betting markets are a prime example of this, with the site's in-play snooker odds being among the best available in the UK. It also covers international tournaments, with excellent markets on events like the Saudi Masters and the German Masters. 5. SBK SBK is another top bookmaker that has come on my radar for snooker betting over the last couple of years. It has become my go-to choice for getting early odds on the Triple Crown Series. The site is always ahead of other operators, often offering odds on the World Championship, UK Championship and Masters months in advance. It also runs price boosts throughout these tournaments and has regular sports promotions that snooker bettors can take advantage of. 6. Dabble Punters looking for something a bit different are going to love Dabble. The site adds social elements to the snooker betting experience, allowing punters to interact with one another and copy bets. We liked the inclusion of the Copy Bet feature, and have found it particularly useful during major events, with some punters doing an excellent job of spotting value bets. Like all of the snooker betting sites listed in this guide, the site offers competitive odds on the Triple Crown Series and also has excellent in-play odds, being a particularly stand-out for frame winner markets. 7. talkSPORT BET talkSPORT BET has been around for a couple of years now and has firmly established itself as one of the best snooker bookmakers in the UK. We have found that it is one of the few sites that will run price boosts year-round, not just during the Triple Crown events. The in-play betting features are also reliable, with the site having one of the best cash-out features in the UK. While it does not have any snooker promotions available, it does run excellent promotions such as free bets and cashback offers that can be used on snooker markets. 8. Spreadex If you are a fan of spread betting, then Spreadex should jump straight to the top of your list. The site may not have the bells and whistles that others have in terms of betting features and promotions, but it does offer some of the best alternative snooker betting markets and odds around. It also offers great future markets, often being ahead of many of the top snooker sites in this guide. 9. Midnite Midnite has been a big hit with mobile sports bettors in the UK, and it's easy to see why. Its mobile app and website are among the best in the UK, and its live-betting features and markets are also right up there with the very best the industry has to offer. Its snooker markets are competitive, with the site covering ranking events throughout the year, and often having some of the best player prop markets around. It also boasts a regularly updated selection of bonuses and promotions for snooker bettors to enjoy. 10. 7bet 7bet is one of the best snooker betting sites for statistics and data. The site provides stats and other useful information to help punters make informed betting choices. This is particularly useful for snooker, given that it has one of the most stacked calendars of any sport. It also keeps punters updated with popular bets from other bettors, which can be a great way of spotting value you might have otherwise missed. The biggest snooker tournaments to bet on Snooker has an incredibly active calendar, with three majors taking place throughout the year, and other ranking events filling the gaps in the schedule between them. Let's take a more detailed look at the biggest snooker tournaments to bet on. The World Championship The World Championship is often seen as the main event of the snooker season and is one of the three Triple Crown events. It is a multi-session marathon held at the iconic Crucible Theatre in Sheffield. The tournament is extremely popular with bettors, with top snooker sites running promotions and price boosts throughout. The prize fund is also one of the biggest in the sport, with the 2025 prize fund being £2,395,000, with the winner, Zhao Xintong, pocketing £500,000. The Masters The Masters is the first Triple Crown event to take place in the calendar, happening in the first few weeks of December. The event is held in the Alexandra Palace in London. Unlike the World Championship, this is an invitational event, meaning only top-ranked players can compete. Shan Murphy is the reigning champion, having beaten Kyren Wilson in the 2025 final. The UK Championship The third jewel in the Triple Crown series is the UK Championship. This is the second-largest ranking event after the World Championship and is held in the York Barbican. This takes place at the end of the year, typically running at the end of November into early December. Current world number one Judd Trump is the reigning champion. Other significant ranking events Looking past the three Triple Crown events, the snooker calendar is jam-packed with exciting tournaments throughout the year. Some of the top-ranking events include the Welsh Open, the German Masters, and the Tour Championship. Like tennis, these events often offer excellent betting opportunities for those who pay close attention and follow the sport year-round. A guide to snooker betting markets As an individual sport, snooker tends to offer different betting markets to popular sports like football or rugby. The following are the most common betting markets for snooker. Match winner This is the most popular type of bet to place in snooker. A match winner bet, as its name suggests, is simply a bet on which of the two players will win the match. Unlike a lot of other sports, there are no draws in snooker, meaning this is a simple choice between the two players. For example, you might back Judd Trump to beat Ronnie O'Sullivan. Frame winner Frame winner markets allow you to bet on which player you believe will win the current frame. This is particularly popular for live-betting purposes, with the odds shifting as the frame progresses. For example, you might back Kyren Wilson to win the current frame. Frame score The Frame Score market is essentially a bet on the final frame score of the match. For example, you might back Mark Williams to win 10-7 in a first-to-ten frames match against Neil Robertson. Match centuries & 147 break This market is focused on how many centuries a player will score. This is typically presented as an over/under market. For example, you may be offered odds on whether over or under 3.5 match centuries will be scored. The 147 is a much rarer feat and, as such, is typically just presented as a yes/no market. Tournament winner Finally, we have the tournament winner markets. These are popular markets that see players bet on which player will be the outright winner of a tournament. For example, you might back John Higgins to win the UK Championship. 🤵♂️Players to watch throughout the 2025/26 snooker season The 25/26 season is in full swing, but the first of the three Triple Crown events is still months away. All eyes will be on Zhao Xintong throughout the year as he looks to repeat his incredible World Championship win. He shocked the world when he secured the trophy in May after returning from a two-year ban. Of course, the story would have been totally different had Mark Williams been able to win in the final. The Welshman would have been the oldest player to lift the trophy at 50 years old. Elsewhere, Judd Trump will look to continue his dominance this season after he set the record for the most centuries in a season last year. Kyren Wilson will also look to build on a strong campaign. Snooker betting tips and strategies Snooker can provide excellent betting opportunities for those who are willing to take their time and make educated betting decisions. The following are some top tips we have compiled for snooker bettors: Study recent form: As with all sports, one of the first things you should do when betting on snooker is analyse the recent form of players. Momentum is a very real thing in snooker, and seeing how a player has been performing in recent tournaments can be an indication of what to expect in their next one. Check head-to-head records: Snooker is an individual sport, and it's fair to say that some players excel against specific opponents. Some players work well against others, and a player's recent form or ranking might not be enough to give you a full idea of whether they have specific weaknesses that a long-term rival could exploit. Consider the venue: While snooker is not quite like golf or tennis when it comes to the environment impacting the result, it can still definitely have an impact. Some players have failed to deliver in certain venues, while others might excel in front of a home crowd or a venue they are well accustomed to. Take advantage of promotions: While you might not find many snooker-specific promotions with online bookmakers, there are plenty of welcome bonuses and other promotions that can be used on any sport. We also recommend keeping your eyes peeled for price boosts during any of the three majors. Choosing a sportsbook for snooker betting With so many top snooker betting sites on the market, knowing which one to choose can be a difficult task. When deciding which ones would make our list, we analysed them using the following criteria: Offers/promotions: Bonuses and promotions are an essential part of the modern sports betting experience. While you may not find too many snooker-specific bonuses, there are plenty of free bets and other promotions that you will be able to use on snooker and other sports. Number of snooker markets and tournaments covered: Of course, when choosing the best snooker betting sites to recommend, we factor in the number of snooker markets offered and their odds. Streaming: Snooker is an incredibly popular sport for in-play betting, with many top online sports betting sites offering live-streams of events throughout the year. When choosing which snooker sites to recommend as part of this guide, we checked to see the quality of the live streams offered, as well as their frequency. App (yes or no): If you're anything like me, you will do 90% of your snooker betting, and your sports betting in general, on your phone or tablet. As such, having a betting app that can be instantly accessed is incredibly useful. When reviewing a snooker site, we will also test out its mobile app if one is available. UX/interface: A snooker site can offer all of the above, but if it is poorly designed and a hassle to use, chances are, you are not going to stick around. Having a user-friendly interface is a must, as is offering reliable customer support and a range of responsible gambling services. Payment methods (deposit and withdrawal): When we review a snooker site, we head straight to the cashier to see what payment methods it supports. We also check its minimum deposit and withdrawal, its withdrawal processing speed, and if there are any fees attached. How to bet on snooker Getting started on your snooker betting journey is easy; all you need to do is follow these steps: Sign up for one of the snooker betting sites listed in this guide. If you are new to the site, be sure to claim the welcome bonus. Once you are signed up, head to the snooker section and find the market you want to bet on. Add your selection to your betting slip. Enter your stake, double-check everything is correct, and hit place bet. Sit back, cross your fingers, and enjoy the snooker! FAQs about the best snooker betting sites Still have some questions about betting on snooker in the UK? The following FAQs should help clear those up. 1. What are the most important things for a bettor to know ahead of a snooker match? Several key factors should be considered when betting on snooker. A player's recent form, their head-to-head record, and performance in previous tournaments at a venue are among some of the most important. 2. When are the best times to place bets on upcoming snooker matches/tournaments? You can find the best value odds quite far in advance of a tournament. However, it is better to wait until closer to the start of a tournament to ensure you are up to speed with a player's latest form and stats. 3. What makes snooker tournaments a good way to use a sports betting promotion? Snooker can be one of the most unpredictable sports in the world, with outsiders regularly performing well in tournaments. This makes it the perfect place to take advantage of promotions, especially free bets. 4. How often does an outsider/unseeded player reach the final, or win, a tournament? While it is not uncommon for outsiders to perform well in a tournament, actually winning or reaching a final is rare. Remember to gamble responsibly A responsible gambler is someone who: For help with a gambling problem, call the National Gambling Helpline on 0808 8020 133 or go to to be excluded from all UK-regulated gambling websites.


Reuters
30 minutes ago
- Reuters
Intel CEO to visit White House on Monday, source says
Aug 11 (Reuters) - Intel (INTC.O), opens new tab CEO Lip-Bu Tan was due to visit the White House on Monday after U.S. President Donald Trump called for his removal last week, a source familiar with the matter said. Intel and the White House did not immediately respond to requests for comment. Tan is expected to have an extensive conversation with Trump while looking to explain his personal and professional background, according to the Wall Street Journal, which broke the news, adding that he could propose ways Intel and the U.S. government could work together, the paper said. Tan hopes to win Trump's approval by showing his commitment to the U.S. and guaranteeing the importance of keeping Intel's manufacturing capabilities as a national security issue, the Journal added. Last week, Trump demanded the immediate resignation of Tan, calling him "highly conflicted" due to his ties to Chinese firms and raising doubts about plans to turn around the struggling American chip icon. It was a rare instance of a U.S. president publicly calling for a CEO's ouster and sparked debate among investors. Tan said he shared the president's commitment to advancing U.S. national and economic security. Reuters reported exclusively in April that Tan invested at least $200 million in hundreds of Chinese advanced manufacturing and chip firms, some of which were linked to the Chinese military. Tan, a Malaysian-born Chinese American business executive, was also the CEO of Cadence Design (CDNS.O), opens new tab from 2008 through December 2021, during which time the chip design software maker sold products to a Chinese military university believed to be involved in simulating nuclear explosions. Last month, Cadence agreed to plead guilty and pay more than $140 million to resolve the U.S. charges over the sales, which Reuters first reported.