The Pound Sterling (GBP) witnessed a breakdown of the consolidation formed above 1.2700 as bullish market sentiment failed to neutralize the impact of vulnerable British PMIs reported by S&P Global on Wednesday. The agency reported that factory activities were at their lowest since the pandemic period as firms underutilized their operating capacity due to a bleak demand outlook.
Fears of a recession in the UK economy deepened on Wednesday as warning from Bank of England (BoE) policymakers about significant upside risks to corporate defaults strengthened after the release of vulnerable PMIs. Deepening recession fears are forcing investors to bet on a lower interest rate peak. A poll from Reuters shows that the BoE could pause the rate-tightening spell after an interest rate hike in September.
Pound Sterling falls back after a solid recovery move as investors await the Jackson Hole Symposium for further action. The Cable recovered sharply on Wednesday after forming a Triple Bottom chart pattern around 1.2613 but investors capitalized the pullback move as a selling opportunity. For a confident bullish reversal, the asset has to overstep the round-level resistance of 1.2800. The Cable is consistently failing to close above the 20 and 50-day Exponential Moving Averages (EMAs).
A European Commission report says the network has the most disinformation of six large social networks.
Carrefour and E.Leclerc are holding down the price of petrol and diesel to help people cope with inflation.
The difficulties many, particularly young people, have faced in buying are one reason why the proportion of households who hold a mortgage has actually dropped to below a third. Those renting instead are already facing pressures - rents in London, for example, are rising at their fastest rate...
The toy giant finds that the new crude oil-free material did not cut carbon emissions.
The property giant defaults while reports suggest executives have been detained by authorities.
The Bank of England has held interest rates at 5.25%, bringing a run of 14 consecutive rises to an end.
"Driving up consumer prices of European electric vehicles, at the very time when we need to fight for market share in the face of fierce international competition, is not the right move," said Renault chief executive Luca de Meo, who is also acting as ACEA's president.
The race to get back to the moon is fuelling US investment in private sector space firms.
And like many FTX investors, Sunil also blames people who helped Bankman-Fried rise to the top. These include influencers and celebrities who promoted the firm - and its CEO - as safe and trustworthy. At the firm's height in 2022, it ran a Super Bowl advert in the US, featuring comedian Larry...
BloomX's other product is "Crossbee", a handheld tool for collecting and spreading sticky pollen grains between avocado trees. To date the equipment is being used in South America, South Africa, Spain, the US and Israel, and BloomX says it can increase fruit yields by 30%.