Author: Press Room

The Bank of England will carry out a first of its kind stress test of vulnerabilities in non-bank financial markets next year, after September’s implosion of UK pension funds exposed gaps in policymakers’ understanding of systemic risk in key markets.The BoE announced the exercise in its latest financial stability update, where it noted that while UK households are being “stretched” by rising interest rates and soaring inflation, they were not yet showing “widespread signs of financial difficulties” or an inability to repay loans.The UK’s corporate sector and banks were both described as well positioned to withstand the worsening economic outlook,…

The European Union moved closer on Tuesday to pushing through an unprecedented tax on foreign companies that want to import products that do not meet climate-protection standards that EU companies have to comply with.The breakthrough between the EU parliament and the 27 member states still stopped short of a full deal, but brought the implementation of the system within striking distance. Because some aspects of the tax, known as the Carbon Border Adjustment Mechanism, are tied up in other dossiers, a full decision on the tax can only be completed at a later date.The tax will seek to create a…

The Ford F-150 Lightning was named MotorTrend’s 2023 Truck of the Year on Tuesday, making it the second electric pickup in a row to win that award. MotorTrend’s panel of judges lauded the F-150 Lightning as “the best-riding, best-handling, and best-driving F-150 yet.” Unlike other versions of the F-150, the Lightning has independent rear suspension instead of a solid axle connecting the back wheels. That tends to make for a smoother ride and better handling in curves. The Lightning is also very powerful. Even in its base Pro version, one of two models MotorTrend tested, the electric motors can produce…

A majority of registered New York voters say Gov. Kathy Hochul has failed to restore faith in state government — while falling short over the past year on handling challenges like rising crime and skyrocketing rents, according to a Siena College poll released Tuesday morning. The governor has her “work cut out for her” following a closer-than-expected campaign against Republican Lee Zeldin, who campaigned heavily on his opposition to criminal justice reforms amid rising crime, said Siena College pollster Steve Greenberg. “Today, when asked whether the Hochul Administration did or did not make progress on these goals, voters give a…

The Local Government and Social Care Ombudsman found there was a ‘delay and poor communication’ by Salford city council over the education and health care plan of a child with autism A mum has been paid out by her council over failures which resulted in her son missing out on four months of school. Salford city council have now paid a mother of an autistic child more than £3,000 after an Ombudsman revealed the council’s oversight. The compensation, which was awarded by the Local Government and Social Care Ombudsman, found that there was a ‘delay and poor communication’ by the…

KUALA LUMPUR: A Malaysian court on Tuesday (Dec 13) lifted a stay on the deportation of 114 Myanmar nationals, raising concerns among rights groups they would be sent back to their strife-torn homeland amid threats to their safety. The court granted the request from the Malaysian government, which deported 1,086 Myanmar citizens just days after the Myanmar military seized power in a coup in February last year, despite a court-ordered stay on the deportation. It was unclear if the group of 114 people would be deported immediately. “We strongly urge the government to reconsider its plan,” Amnesty International Malaysia and…

The writer is a senior research fellow at the Centre for European ReformGiven how much time EU leaders devote to discussing gas price caps, you would be forgiven for thinking that they are the solution to Europe’s energy woes. Another favourite: fretting about industrial competitiveness — not only because high energy costs put Europe at a disadvantage, but also because the US is offering big subsidies to green technology sectors through the Inflation Reduction Act. Europe’s leaders are right to try to protect consumers and keep business costs down, and they should lean into energy efficiency to deliver on both…

College football is played best in the region of the country where the NFL is played worst.  Or at least that’s been the case this season.  With apologies to the Big Ten, the SEC — which is sending 11 teams to bowl games — still rules. In the NFL, however, the South is a wasteland.  Of the eight total teams in the NFC South and AFC South, only one has a winning record. While the Tennessee Titans (7-6) bask in their relative glory, the other seven teams are a combined 29 games under .500. Are we still sure both divisions…

Anghami describes itself as the largest music streaming app for the Middle East and North Africa. Launched in Beirut in 2012 by Elie Habib and Eddy Maroun, it was quickly dubbed “the Spotify of the Middle East.” Now headquartered in Abu Dhabi, Anghami is growing its footprint to the real world after amassing nearly 20 million active users. It partnered with Sony Music to launch “Vibe,” a boutique record label the companies say will “support independent Arabic music,” and empower artists “to tell their stories regionally and globally.” Then, in July, Anghami acquired Spotlight Events, a live event company, and…

A video of newlywed Hannah Rogers, 31, displaying her traditional Indian wedding attire to her family and friends has garnered 12 million views on Instagram.People all over the world wished her well on her wedding via the comments section. Rogers, an immigration attorney based in Los Angeles, was married to Vidhur Goyal on Nov. 18 in a traditional Hindu ceremony at The Jai Mahal Palace in Jaipur, India, she told Fox News Digital.WEDDING WINNERS 2022: THE BEST 10 STATES FOR WEDDINGS THIS YEAR (DID YOUR STATE MAKE THE LIST?) After the festivities ended, her makeup artist, Bianca Louzado, shared a video on…