The United States has urged China to allow the yuan to appreciate, accusing Beijing of a lack of transparency and describing the currency as “substantially undervalued”. “It is important that the Chinese authorities allow the RMB exchange rate to strengthen in a timely and orderly manner in line with market pressure and macroeconomic fundamentals,” the US Treasury said in a report released on Thur...
The United States has urged China to allow the yuan to appreciate, accusing Beijing of a lack of transparency and describing the currency as “substantially undervalued”. “It is important that the Chinese authorities allow the RMB exchange rate to strengthen in a timely and orderly manner in line with market pressure and macroeconomic fundamentals,” the US Treasury said in a report released on Thursday. China’s exchange-rate policies stood out among major US trading partners for their “relative lack of transparency”, it added, though it stopped short of designating Beijing a currency manipulator. Advertisement The report, the latest semi-annual foreign currency review by the US Treasury, came amid Washington’s long-standing concern that Beijing may intentionally undervalue the yuan. It last labelled China a currency manipulator in 2019 , during US President Donald Trump’s first term. “This relative lack of transparency will not preclude [the] Treasury from designating China if available evidence suggests that it is intervening through formal or informal channels to resist RMB appreciation in the future,” the report said. Advertisement
Domestic abusers are increasingly using AI, smartwatches and other technology to attack and control their victims, a domestic abuse charity says. Record numbers of women who were abused and controlled through technology were referred to Refuge’s specialist services during the last three months of 2025, including a 62% increase in the most complex cases to total 829 women. There was also a 24% incr...
Domestic abusers are increasingly using AI, smartwatches and other technology to attack and control their victims, a domestic abuse charity says. Record numbers of women who were abused and controlled through technology were referred to Refuge’s specialist services during the last three months of 2025, including a 62% increase in the most complex cases to total 829 women. There was also a 24% increase in referrals of under-30s. Recent cases included perpetrators using wearable tech such as smartwatches, Oura rings and Fitbits to track and stalk women, disrupting their lives through smart home devices that control lights and heating, and using AI spoofing apps to impersonate people. Emma Pickering, head of the tech-facilitated abuse team at Refuge, said: “Time and again, we see what happens when devices go to market without proper consideration of how they might be used to harm women and girls. It is currently far too easy for perpetrators to access and weaponise smart accessories, and our frontline teams are seeing the devastating consequences of this abuse. “It is unacceptable for the safety and wellbeing of women and girls to be treated as an afterthought once a technology has been developed and distributed. Their safety must be a foundational principle shaping both the design of wearable technology and the regulatory frameworks that surround it.” Refuge said it was far too easy to access and weaponise smart accessories and that women’s safety needed to be factored into their design. One survivor Refuge worked with, Mina, left behind her smartwatch in a rush to flee her abuser, who then used it to track her by using linked cloud accounts to locate her emergency accommodation. “[It] was deeply shocking and frightening. I felt suddenly exposed and unsafe, knowing that my location was being tracked without my consent. It created a constant sense of paranoia; I couldn’t relax, sleep properly, or feel settled anywhere because I knew my movements weren’t private,” she s...
Glorious summer hiking in Norway A week’s hiking in Jotunheimen national park (230 miles north of Oslo) last summer brought me tranquillity and peace. During four days of challenging hiking and wild camping through the area we saw hardly anyone else, having entire lush green valleys and still glacial lakes to ourselves. We were fortunate to have stunning weather throughout and, despite it being Ju...
Glorious summer hiking in Norway A week’s hiking in Jotunheimen national park (230 miles north of Oslo) last summer brought me tranquillity and peace. During four days of challenging hiking and wild camping through the area we saw hardly anyone else, having entire lush green valleys and still glacial lakes to ourselves. We were fortunate to have stunning weather throughout and, despite it being July, still had a reasonable amount of snow to traverse. Norway has a fantastic network of signposted trails and huts which can be found on the Norwegian Trekking Association website. Ben An arty cabin break near Aarhus View image in fullscreen The Kunstmuseum’s walkway. Photograph: Wirestock/Alamy We had an amazing family holiday on the Jutland coast neat Aarhus, Denmark’s second city. We stayed in a cabin among pine trees and swam every day. We found helpful swimming jetties, making it simple to get into the sea – they even have hooks for towels. The beaches were wild and so quiet we often had them to ourselves. For an urban fix, Aarhus was a joy to visit. The Aarhus Kunstmuseum is definitely worth checking out for contemporary art lovers, followed by lunch at Cafe Folkeven. Ben Dunne Urban Scandi beauty in Stavanger View image in fullscreen Gamle Stavanger –the city’s ‘old town’ Photograph: Andrey Khrobostov/Alamy Stavanger, on the south-west coast of Norway, feels like the picture-perfect example of Scandinavian urban beauty. The city is welcoming, with quaint Gamle Stavanger (the old town) full of shops selling wool and cute bars serving up local beer (my favourite is bookshop cum bar Bøker og Børst). Head further south to Boresanden if you fancy braving the cold with a surf and follow up with a sauna. For further adventure, head east for Preikestolen for awe-inspiring views over the fjord. Finally, take the ferry to Flor og Fjære to wander round the tropical gardens (opens 9 May). Anisa Profile Readers' tips: send a tip for a chance to win a £200 voucher for a Coolstays...
Homes with air source heat pumps or solar panels for sale in England – in pictures From a renovated Victorian village house in Hampshire to a new-build apartment in south London A new development in Stalbridge, Dorset fitted with solar panels and air source heat pumps. Photograph: Savills
Homes with air source heat pumps or solar panels for sale in England – in pictures From a renovated Victorian village house in Hampshire to a new-build apartment in south London A new development in Stalbridge, Dorset fitted with solar panels and air source heat pumps. Photograph: Savills
A psychologist’s gripping guide to surviving dark nights of the soul offers both comfort and insight I’m proud of how mild-mannered my midlife crisis is. While the cliche involves the purchase of a Porsche or a frantic fling with a colleague, I’ve mainly fallen back into the geeky preoccupations of my youth, such as founding poetry clubs and playing niche racket sports. Nevertheless, on the cusp o...
A psychologist’s gripping guide to surviving dark nights of the soul offers both comfort and insight I’m proud of how mild-mannered my midlife crisis is. While the cliche involves the purchase of a Porsche or a frantic fling with a colleague, I’ve mainly fallen back into the geeky preoccupations of my youth, such as founding poetry clubs and playing niche racket sports. Nevertheless, on the cusp of turning 50, and having just been beaten by my 11-year-old at Scrabble, I’m thrilled to have found a book that addresses my small struggle: an elegant discourse on the deep wisdom that I’m hoping will characterise my remaining years. First, the author, a clinical psychologist named Frank Tallis, diagnoses the problem. Following some of the arguments in Ernest Becker’s 1973 study The Denial of Death, he proposes that such crises are at least partly the result of the western reluctance to face mortality. In Britain, we eschew open coffins, for instance. When our relatives die, as my mother did two years ago, they die in a hospital rather than at home. We can hardly even bring ourselves to say “die”, preferring euphemisms such as “pass away”. In this Instagram age, our lives are dominated by filters and distractions. The crisis strikes when reality can’t be held at bay any longer. We lose our parents. Then we notice, inevitably, that we are now at the front of the queue. Continue reading...
Pick of the week The Muppet Show The Muppet Show is top-tier nostalgia: it’s likely that the parents of this one-off revival’s target audience will be more excited about it than the kids of 2026. So there’s a fine balance to be located and the question of exactly who this is aimed at is never quite resolved. Still, the anarchic energy of the gang should transcend generational barriers. There’s sim...
Pick of the week The Muppet Show The Muppet Show is top-tier nostalgia: it’s likely that the parents of this one-off revival’s target audience will be more excited about it than the kids of 2026. So there’s a fine balance to be located and the question of exactly who this is aimed at is never quite resolved. Still, the anarchic energy of the gang should transcend generational barriers. There’s simmering beef between Miss Piggy and guest Sabrina Carpenter, cameos from Seth Rogen and Maya Rudolph, self-aware musical spoofs, snark from Statler and Waldorf and much more besides. If anything, the special tries to squeeze too much in, which is perhaps a hint that a new series might be the next logical and welcome step? Phil Harrison Disney+, from Wednesday 4 February The Investigation of Lucy Letby View image in fullscreen Troubling … The Investigation of Lucy Letby. Photograph: Netflix Given the horror of the crimes for which she was convicted and the questions around the safety of that sentence, it’s unlikely that we’ll be short of documentaries about the Lucy Letby case in the coming years. This film includes previously unseen footage of her arrest and questioning, but doesn’t add a great deal to anyone’s understanding of the charges against her. There’s also a brisk summary of the uncertainties surrounding the case, including the lack of motive, the procedural issues at the hospital in question and the troubling question: if Lucy Letby didn’t kill seven babies, why did they die? PH Netflix, from Wednesday 4 February Mo Gilligan: In the Movement View image in fullscreen Brit in America … Mo Gilligan: In the Movement. Photograph: Matt Frost Popular London comic Mo Gilligan has decamped to the United States – and has been rewarded with his first Netflix standup special. As ever, it’s solid if gentle observational comedy from Gilligan, honed during years of nicely judged red carpet and award ceremony banter. Over the course of the set, he makes the most of his new outside...
Where better to be in the midst of Belgium’s biting winter but in the warmth of Lee Shulman’s creation, The House. Cloaked in cosy mid-century nostalgia, the staging of this flagship exhibition at Hangar Gallery sets a fitting scene for Shulman’s collection of found photography, The Anonymous Project. The playful curation features all manner of family snaps from holidays to birthday parties, and s...
Where better to be in the midst of Belgium’s biting winter but in the warmth of Lee Shulman’s creation, The House. Cloaked in cosy mid-century nostalgia, the staging of this flagship exhibition at Hangar Gallery sets a fitting scene for Shulman’s collection of found photography, The Anonymous Project. The playful curation features all manner of family snaps from holidays to birthday parties, and sees characters peeping out of kitchen cupboards or lounging on the beach, photographed through the window of a caravan. The effect is a seductive step into the past, even if only the past of your dreams. View image in fullscreen All the furniture used in the staging of The House has been sourced from online websites View image in fullscreen An image from the Anonymous Project, a collection of found photography All the furniture used in staging the exhibition has been sourced from secondhand websites. The 1950s caravan, for example, cost only 200 euros and has now travelled further around the world than it did in its heyday, exhibiting at museums and shows. View image in fullscreen A peep inside a 1950s caravan positioned in the exhibition reveals families holidaying at the beach View image in fullscreen View image in fullscreen Much of the collection has been received as donations Shulman began collecting in 2017 when he bought a random box of vintage transparency slides and found himself drawn to the wonder of the people he discovered and the window into their lives, often funny, surprising or tender. Cataloguing and then exhibiting the pictures has become an artistic endeavour to give meaning to something once forgotten and breath new life into old memories. View image in fullscreen The collection has flourished thanks to donations of colour photography since it began in 2017 Since the collection began it has grown in size and reputation. In the first year it included 400,000 slides and archiving them was an epic task, but Shulman, a self confessed obsessive, delighted in...
ICG Enterprise Trust plc 30 January 2026 Q3 update for the three months ended 31 October 2025 Highlights NAV per Share of 2,080p (31 Jul 2025: 2,040p) Q3 NAV per Share Total Return of 2.4% Continuing strong realisation activity: £82m Total Proceeds in Q3 Q3 Total New Investments of £25m, bringing YTD Total New Investments to £138m Robust balance sheet: 3% gearing ratio, £230m total available liqui...
ICG Enterprise Trust plc 30 January 2026 Q3 update for the three months ended 31 October 2025 Highlights NAV per Share of 2,080p (31 Jul 2025: 2,040p) Q3 NAV per Share Total Return of 2.4% Continuing strong realisation activity: £82m Total Proceeds in Q3 Q3 Total New Investments of £25m, bringing YTD Total New Investments to £138m Robust balance sheet: 3% gearing ratio, £230m total available liquidity Q3 dividend of 9p per share; Board increases FY26 dividend guidance to 39p per share (FY25: 36p) In the three years since the launch of the long-term buyback programme in October 2022, ICGT has bought back 8.4% of its opening shares, adding 71p (3.5%) to NAV per Share Total Return 1 The Board reconfirms the long-term share buyback programme is intended to operate at any discount to NAV Strong momentum post period-end into Q42: £75m Total Proceeds; £43m Total New Investments; and £76m New Fund Commitments (including $90m/£67m to ICG LP Secondaries II) 1 Figures include both long-term and opportunistic buyback programmes, see page 5 for details; 2 Post period-end reflects 1 November 2025 to 29 January 2026 PERFORMANCE OVERVIEW Annualised Performance to 31 October 2025 3 months 1 year 3 years 5 years 10 years Portfolio Return on a Local Currency Basis 1.6% 6.7% 6.7% 14.9% 14.7% NAV per Share Total Return 2.4% 6.1% 4.5% 12.8% 13.6% Share Price Total Return 3.9% 28.1% 18.4% 16.4% 12.4% FTSE All-Share Index Total Return 6.6% 22.5% 14.7% 14.7% 8.0% Portfolio activity overview for Q3 FY26 Primary Direct Secondary Total ICG-managed Local Currency return 1.6% 1.2% 2.6% 1.6% 3.2% Sterling return 2.4% 1.8% 3.2% 2.3% 4.0% New Investments1 £20m £7m £(2)m £25m £(2)m Total Proceeds £46m £2m £35m £82m £6m New Fund Commitments £—m £—m £—m £—m £—m Closing Portfolio value £701m £480m £210m £1,391m £435m % Total Portfolio 50% 35% 15% 100% 31% 1 Secondaries (£(2)m) reflect a recallable capital contribution as opposed to an income distribution ENQUIRIES Institutional investors and analysts: ...
Berlin's Real Estate Market: Socialism On The Rise Submitted by Thomas Kolbe Germany’s debt crisis continues to tighten the political leeway of the Federal Republic. The latest push by Berlin’s SPD for stricter real estate regulation clearly signals the direction ahead: Parties at the brink are choosing state-controlled economics over a market-driven turnaround. The German capital, Berlin, functio...
Berlin's Real Estate Market: Socialism On The Rise Submitted by Thomas Kolbe Germany’s debt crisis continues to tighten the political leeway of the Federal Republic. The latest push by Berlin’s SPD for stricter real estate regulation clearly signals the direction ahead: Parties at the brink are choosing state-controlled economics over a market-driven turnaround. The German capital, Berlin, functions as a political testing ground and as ground zero for the united left of the Federal Republic. Like a magnifying glass, Berlin’s state politics reveal the broader response patterns of German politics to current social and economic challenges. The city’s real estate market now demonstrates trends likely to define the political character of the years to come. Faced with dramatic housing shortages, steadily rising rents, and exploding property prices, policymakers respond with even stronger regulation and rent controls. This is a policy of artificial scarcity, as investors systematically retreat from the market due to declining expected returns. The SPD’s recent move confirmed that the course remains steady: increasing regulation and direct control over investors (Apollo News reported ). Overview of Regulatory Measures The SPD’s legislative initiative includes: severely restricting short-term tourist rentals to relieve the regular housing market; limiting potential rent surcharges for furnished apartments, preventing landlords from adjusting rents to reflect past investment in quality or amenities; capping index rents; and restricting modernization charges for property upkeep within narrow legal boundaries. Investment incentives and expected returns are thus significantly curtailed. The government is executing a consistent departure from economic fundamentals, addressing a self-created scarcity with measures that further exacerbate it. Without prospects of refinancing, investors are increasingly withdrawing from the market, putting further strain on housing availability. An ...
Nomura Holdings press release ( NMR ): for the nine months ended GAAP EPS of ¥94.67. Revenue of ¥1590.53B (+10.5% Y/Y). Earnings Forecasts for the year ending March 31, 2026: Nomura provides investment, financing and related services in the capital markets on a global basis. In the global capital markets there exist uncertainties due to, but not limited to, economic and market conditions. Nomura, ...
Nomura Holdings press release ( NMR ): for the nine months ended GAAP EPS of ¥94.67. Revenue of ¥1590.53B (+10.5% Y/Y). Earnings Forecasts for the year ending March 31, 2026: Nomura provides investment, financing and related services in the capital markets on a global basis. In the global capital markets there exist uncertainties due to, but not limited to, economic and market conditions. Nomura, therefore, does not present earnings forecasts. More on Nomura Holdings Nomura: Cheaper Despite Sharp Japanese Market Exposure Benefits Nomura Holdings, Inc. (NMR) Presents at Nomura Investment Forum 2025 - Slideshow Nomura-supported crypto firm applies for U.S. banking license - report Baron International Growth Fund initiated NMR, ESLOF, PONY, GDS, and KUASF; exits YAHOF, DNOPF, and CIADF. Seeking Alpha’s Quant Rating on Nomura Holdings