Latest news with #VictoriaScholar
The Guardian
2 days ago
- Business
- The Guardian
UK GDP report to show if economy returned to growth in May
Update: Date: Title: Introduction: UK's May GDP report coming up Content: Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. We're about to discover how the UK economy fared in May, the month in which Britain became the first country this year to agree a trade deal with Donald Trump. Economists predict the UK economy grew slightly in May, by 0.1%, after a disappointing 0.3% contraction in April. The government will be hoping for signs that activity picked up in May, given the push for growth. The data is due at 7am UK time. Victoria Scholar, head of investment at interactive investor, says: April's decline was caused by a drop in legal activities linked to the stamp duty increase. Plus, higher energy bills, the National Insurance increase and tariff uncertainty took their toll. After an unfortunately timed cluster of headwinds in April, it appears as though the only way is up. Consumer sentiment is already showing signs of improvement and Friday's GDP data could add to the cheerier mood, with the potential for a rebound in activity, particularly in the key services sector. Plus, anticipation of easier monetary policy is helping to boost sentiment and the real economy. The Bank of England lowered interest rates in May with the market anticipating two more cuts this year.' 7am BST: UK GDP report for May 7am BST: UK trade balance for May 9am BST: IEA's monthly oil market report 2pm: Russia's trade balance for May Update: Date: 2025-07-11T05:43:33.000Z Title: Trump threatens 35% tariffs on Canadian goods Content: Overnight, Donald Trump's trade war has taken another twist. The US president has announced his will impose a 35% tariff on imports from Canada next month and threatened to impose blanket tariffs of 15% or 20% on most other trade partners. In a letter released on his social media platform, Trump told Mark Carney, the Canadian prime minister, the new rate would go into effect on 1 August and would increase if Canada retaliated. Update: Date: 2025-07-11T05:40:15.000Z Title: Introduction: UK's May GDP report coming up Content: Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. We're about to discover how the UK economy fared in May, the month in which Britain became the first country this year to agree a trade deal with Donald Trump. Economists predict the UK economy grew slightly in May, by 0.1%, after a disappointing 0.3% contraction in April. The government will be hoping for signs that activity picked up in May, given the push for growth. The data is due at 7am UK time. Victoria Scholar, head of investment at interactive investor, says: April's decline was caused by a drop in legal activities linked to the stamp duty increase. Plus, higher energy bills, the National Insurance increase and tariff uncertainty took their toll. After an unfortunately timed cluster of headwinds in April, it appears as though the only way is up. Consumer sentiment is already showing signs of improvement and Friday's GDP data could add to the cheerier mood, with the potential for a rebound in activity, particularly in the key services sector. Plus, anticipation of easier monetary policy is helping to boost sentiment and the real economy. The Bank of England lowered interest rates in May with the market anticipating two more cuts this year.' 7am BST: UK GDP report for May 7am BST: UK trade balance for May 9am BST: IEA's monthly oil market report 2pm: Russia's trade balance for May
Business Insider
3 days ago
- Business
- Business Insider
Meta (META) Expands AI Smart Glasses Push with $16M Audio Lab
U.S. tech giant Meta (META) has opened a new research laboratory in Cambridge in the U.K. as it eyes further AI glasses growth. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Acoustic Chambers The $16 million audio research center comes on top of reports that the Facebook and Instagram owner has purchased a minority stake in Oakley and Ray-Ban owner EssilorLuxottica (ESLOY), the world's largest eyewear business. It is reported the company's stake will be worth around $3.5 billion and represent just under 3% of the Paris-based business. Meta said the new lab was designed to 'advance spatial audio and machine learning for Meta's future AI glasses.' The facility includes 'reverb rooms and ultra-quiet acoustic chambers' in order to hone the audio quality of its products under development. Joel Kaplan, chief global affairs officer for Meta, said: 'We want the brightest minds to make sure our smart glasses have the smartest AI-powered audio so you can focus on what you're listening to no matter what's going on around you. I can't wait to experience the results of the work the lab produces.' Big Bet Meta is making a big bet on smart wearable technology and early signs are encouraging. Its Ray-Ban Meta smart glasses sold over 2 million units by February after launching in October 2023. In June, Meta expanded its smart eyewear lineup with new Oakley Meta glasses that were designed for athletes and fitness-focused users. 'Meta's Oakley collaboration could be very exciting since wearable technology in fitness is already tried and tested and has seen some huge successes such as smartwatches and fitness trackers. Fashion wearable tech might be more of an uphill climb,' said Victoria Scholar, head of investment at interactive investor. It is a large market to target. The global smart glasses market size was estimated at $1.93 billion in 2024 and is projected to reach $8.26 billion by 2030.
Zawya
6 days ago
- Business
- Zawya
Sterling slips with economic data, tariff uncertainty in focus
Sterling slipped on Monday in a lacklustre start to a week packed with economic data reports that could offer clues to the interest rate outlook, while globally investors watched the latest deadline on U.S. tariffs. Sterling slipped 0.3% and last fetched $1.3601 against the U.S. dollar, while the pound was broadly unchanged against the euro at 86.23 pence. Last week saw investors in UK assets rattled by ambiguities around the health of public finances, as a number of U-turns by the governing Labour Party over welfare reforms sparked speculation around the future of finance minister Rachel Reeves. Traders are now shifting their focus to a set of data this week, with Monday bringing a report that showed British house prices stagnated month-on-month during June as expected, after an increase in tax on property transactions took effect in April. However, "the post April dip is likely to fizzle out", said Victoria Scholar, head of investment at interactive investor. "Plus, mortgage lending is improving, thanks to four rate cuts from the Bank of England over the last year and two more priced in this year." Later in the week, traders will scrutinize a report on gross domestic product that could offer clarity on the health of the UK economy and determine the outlook on interest rates. Bank of England policymaker Alan Taylor said late on Friday that he thought it would be better to cut interest rates now rather than wait and risk needing to cut them in a hurry. Taylor expects the Bank Rate to fall to "around 3%" by the end of next year. Traders largely anticipate the next 25 basis points interest rate cut by the central bank will be in September, according to data compiled by LSEG. Meanwhile, investors globally were awaiting a Wednesday deadline ahead of which economies scrambled to strike trade deals with the U.S. to avoid sharply higher duties on their exports to the United States. Britain was the first to secure an agreement with the U.S. in May and has avoided the additional tariffs on steel and aluminium. Negotiations are ongoing to remove existing 25% duties on industrial metals altogether. The pound has appreciated about 2% since the deal with the U.S. and is trading close to its highest level since late 2021, also benefiting from a broader dollar weakness. Separately, a Deloitte survey showed British business executives now see greater opportunities closer to home, while the attractiveness of the United States as an investment destination dwindled. In other news, Reeves is expected to announce a 28.6 million pound ($39 million) investment by the National Wealth Fund in a carbon capture project that could create jobs in central and northern England, as the government strives to shore up public support. (Reporting by Johann M Cherian; Editing by Aidan Lewis)
Reuters
6 days ago
- Business
- Reuters
Sterling slips with economic data, tariff uncertainty in focus
July 7 (Reuters) - Sterling slipped on Monday in a lacklustre start to a week packed with economic data reports that could offer clues to the interest rate outlook, while globally investors watched the latest deadline on U.S. tariffs. Sterling slipped 0.3% and last fetched $1.3601 against the U.S. dollar , while the pound was broadly unchanged against the euro at 86.23 pence. Last week saw investors in UK assets rattled by ambiguities around the health of public finances, as a number of U-turns by the governing Labour Party over welfare reforms sparked speculation around the future of finance minister Rachel Reeves. Traders are now shifting their focus to a set of data this week, with Monday bringing a report that showed British house prices stagnated month-on-month during June as expected, after an increase in tax on property transactions took effect in April. However, "the post April dip is likely to fizzle out", said Victoria Scholar, head of investment at interactive investor. "Plus, mortgage lending is improving, thanks to four rate cuts from the Bank of England over the last year and two more priced in this year." Later in the week, traders will scrutinize a report on gross domestic product that could offer clarity on the health of the UK economy and determine the outlook on interest rates. Bank of England policymaker Alan Taylor said late on Friday that he thought it would be better to cut interest rates now rather than wait and risk needing to cut them in a hurry. Taylor expects the Bank Rate to fall to "around 3%" by the end of next year. Traders largely anticipate the next 25 basis points interest rate cut by the central bank will be in September, according to data compiled by LSEG. Meanwhile, investors globally were awaiting a Wednesday deadline ahead of which economies scrambled to strike trade deals with the U.S. to avoid sharply higher duties on their exports to the United States. Britain was the first to secure an agreement with the U.S. in May and has avoided the additional tariffs on steel and aluminium. Negotiations are ongoing to remove existing 25% duties on industrial metals altogether. The pound has appreciated about 2% since the deal with the U.S. and is trading close to its highest level since late 2021, also benefiting from a broader dollar weakness. Separately, a Deloitte survey showed British business executives now see greater opportunities closer to home, while the attractiveness of the United States as an investment destination dwindled. In other news, Reeves is expected to announce a 28.6 million pound ($39 million) investment by the National Wealth Fund in a carbon capture project that could create jobs in central and northern England, as the government strives to shore up public support.
