U.K. bond yields rise after UK-EU deal British government bond yields are also on the rise in the wake of the EU and the U.K. agreeing to reset their post-Brexit relations.Yields on 10-year U.K. government bonds, known as gilts, were up by around 7 basis points at 9:58 a.m. in London. Bond yields and prices move in opposite directions.— Chloe TaylorBritish pound rallies after UK’s breakthrough deal with EUUK and EU agree to post-Brexit reset deal, sources tell CNBCBritain’s Prime Minister Keir Starmer and European Commission president Ursula Von der Leyen at the European Political Community summit, in Tirana on…
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Britain’s Prime Minister Keir Starmer and European Commission president Ursula Von der Leyen at the European Political Community summit, in Tirana on May 16, 2025. Leon Neal | Afp | Getty ImagesThe U.K. and European Union finally agreed to reset relations Monday, sources told CNBC, after Britain’s acrimonious exit from the European bloc in 2020.U.K. Prime Minister Keir Starmer is hosting European Commission President Ursula von der Leyen and other senior officials in London for a much-anticipated summit which is taking place against a backdrop of unpredictable global dynamics — led by the U.S.Three EU officials told CNBC’s Silvia Amaro…
Cristiano Amon, CEO & President, Qualcomm, on Centre Stage during day one of Web Summit 2024 at the MEO Arena in Lisbon, Portugal. Shauna Clinton | Sportsfile | Getty ImagesQualcomm on Monday said it plans to launch processors designed for data centers to power artificial intelligence, which will link to Nvidia’s chips.Nvidia’s graphics processing units (GPUs) have become a critical component in data centers used to train huge AI models that power applications like chatbots. They are often paired with a central processing unit (CPU) — a market dominated by Intel and AMD.Qualcomm said it is planning to launch a…
Young professionals are in the office more than other generations, a recent study by real estate firm JLL found.Whitebalance.space | E+ | Getty ImagesSome ambitious Gen Z professionals are leading the return-to-office trend, eager to climb the corporate ladder, learn from their older peers and upend stereotypes about their generation.Born between 1997 and 2012, many members of Gen Z started their first jobs in the midst of the pandemic. As remote and hybrid work became the new norm, the youngest generation at work were often scapegoated for the rise in empty offices, facing a flurry of criticism for being lazy…
The statue of former Treasury Secretary Albert Gallatin stands in front of the north wing of the U.S. Treasury Department headquarters building on April 24, 2025, in Washington, DC, U.S.J. David Ake | Getty Images News | Getty Images U.S. stocks popped last week on the back of a trade truce between America and China, in which they mutually agreed to cut tariffs for 90 days. Technology stocks soared, with Tesla and Nvidia leading the pack. Absent new developments on the tariff front, however, it’s unclear if this buoyant sentiment can last.For one, the U.S.’ credit rating was downgraded by…
An H&M store in New York City on Nov. 19, 2024.Charly Triballeau | AFP | Getty ImagesWhen Gilberto Loureiro spent summers working in a textile factory as a teenager growing up in Portugal, he discovered that he felt “hate and love” for how clothes were produced.The work was tough: Loureiro’s job was to spend long days standing and watching for flaws in woven fabric as it ran through machines at a rate of about 15 to 20 meters per minute.”I really love the textile industry and problem solving, but I hate this … inspection working and inefficiencies and the waste.…
South Africa has been a focus of President Trump’s criticism in his second term.Mr. Trump has made debunked claims that white farmers in South Africa are being killed in a genocide. On May 12, Mr. Trump welcomed some of those farmers into the United States as refugees. He has also expelled South Africa’s ambassador to the United States and has cut off American aid.South Africa will get its chance to directly rebut what it says is Mr. Trump’s misinformation with President Cyril Ramaphosa’s scheduled visit to the White House on Wednesday.Mr. Ramaphosa faces the political challenge of standing firm on…
Citizens are shopping at a supermarket in Nanjing, East China’s Jiangsu province, on March 9, 2024. Costfoto | Nurphoto | Getty ImagesChina’s retail sales growth slowed in April, data from the National Bureau of Statistics showed Monday, signaling that consumption remains a worry for the world’s second-largest economy.Retail sales rose 5.1% from a year earlier in April, missing analysts’ estimates of 5.5% growth, according to a Reuters poll. Sales had grown by 5.9% in the previous month.Industrial output grew 6.1% year on year in April, stronger than analysts’ expectations for a 5.5% rise, while slowing down from the 7.7% jump in…
Pedestrians walk past the north entrance to the U.S. Treasury Department headquarters building on April 30, 2025, in Washington, DC. J. David Ake | Getty Images U.S. stocks popped last week on the back of a trade truce between America and China, in which they mutually agreed to cut tariffs for 90 days. Technology stocks soared, with Tesla and Nvidia leading the pack. Absent new developments on the tariff front, however, it’s unclear if this buoyant sentiment can last.For one, the U.S.’ credit rating was downgraded by Moody’s Ratings to the second highest. This means investors could demand higher returns…
A man walks past buildings at Central Business District (CBD) in Beijing, China April 8, 2025. Tingshu Wang | ReutersAsia-Pacific markets fell Monday as investors await a slew of economic data from across the region and parse Moody’s downgrade of the U.S. credit rating.Japan’s benchmark Nikkei 225 slipped 0.54% at the open while the Topix lost 0.36%. South Korea’s Kospi declined 0.47% and the small-cap Kosdaq traded 0.77% lower.Australia’s benchmark S&P/ASX 200 was down 0.15% at the open.Futures for Hong Kong’s Hang Seng index stood at 23,270, lower than its last close of 23,345.05.China is scheduled to release a slate of…
