Talk of witch-hunts and personality clashes was very publicly aired, when all we wanted to know was what the party actually stood for Last weekend, Your Party officially split, with 250 members voting to start a second leftwing party, the Socialist Federation. Neither Jeremy Corbyn nor Zarah Sultana represent this new faction, with both remaining in Your Party. While many of those members are part...
Talk of witch-hunts and personality clashes was very publicly aired, when all we wanted to know was what the party actually stood for Last weekend, Your Party officially split, with 250 members voting to start a second leftwing party, the Socialist Federation. Neither Jeremy Corbyn nor Zarah Sultana represent this new faction, with both remaining in Your Party. While many of those members are part of “Grassroots Left”, Sultana’s faction of Your Party, she has no role in the new party, and is still technically a Your Party MP. Corbyn’s faction, “The Many”, has de facto had the reins of Your Party since he was elected its parliamentary leader by the executive committee in March. Two independent MPs who originally supported Your Party, Adnan Hussain and Iqbal Mohamed, have quit , and two – Shockat Adam and Ayoub Khan – remain. Zoe Williams is a Guardian columnist Continue reading...
The N3 Ultimate doesn’t mind being off center. | Photo by Thomas Ricker / The Verge Sorry Anker: JMGO now makes my favorite flagship portable projector. The N3 Ultimate is an excellent portable 4K projector that defeats moderate ambient light at severe placement angles and can rival more expensive home theater installations at night. After a few weeks of testing, I think the raw adaptability exhib...
The N3 Ultimate doesn’t mind being off center. | Photo by Thomas Ricker / The Verge Sorry Anker: JMGO now makes my favorite flagship portable projector. The N3 Ultimate is an excellent portable 4K projector that defeats moderate ambient light at severe placement angles and can rival more expensive home theater installations at night. After a few weeks of testing, I think the raw adaptability exhibited by the JMGO's N3 Ultimate justifies its current $2,399 price ($500 off its $2,999 list). Modern all-in-one projectors built around Google TV are already super accommodating when it comes to placement. Set one down on a living room table or campsite rock and it will begin searching for a screen or blank wall while avoiding o … Read the full story at The Verge.
European stock traders will need to add a further variable to their investment strategies this week: how rising interest rates will affect each corner of the market. Money markets have all but fully priced a quarter-point rate hike by the European Central Bank when it meets on Thursday, to counter inflation pressures triggered by the Iran war. With at least two rate increases priced in through yea...
European stock traders will need to add a further variable to their investment strategies this week: how rising interest rates will affect each corner of the market. Money markets have all but fully priced a quarter-point rate hike by the European Central Bank when it meets on Thursday, to counter inflation pressures triggered by the Iran war. With at least two rate increases priced in through year-end, investors will have to position for the uneven impact of ECB tightening across sectors and for how long they believe the hiking cycle will last. Banks, already tracking a fourth year of gains, look obvious winners as rates climb. Energy companies, meanwhile, are shielded by floods of cash from booming oil sales. Utilities and real estate look at risk, as traditional bond proxies. Consumer-facing shares like luxury are set for strain as higher borrowing costs erode demand. “The ECB’s rate hike in June is fully anticipated by the market, which however really wants to believe that the rise in oil prices and inflation will prove temporary,” said Roland Kaloyan , head of European equity strategy at Societe Generale SA. An added complication for European equities is that they’re heading into a potential rate-hiking cycle at far higher valuations than the previous one, four years ago. The Stoxx Europe 600 trades at nearly 15 times forward earnings, compared to less than 12 times in 2022. It’s highly unlikely that rates will climb as high as they did back then, but it would be prudent to be selective in sector exposure. A Goldman Sachs Group Inc. team including Guillaume Jaisson said pricer valuations leave equities vulnerable if yields grind higher. Over at UBS Global Wealth Management, strategists including Mark Hafele said they prefer to invest in European companies benefiting from trends beyond just the rate backdrop. They cite information technology and industrials among these. As investors brace for the ECB’s first hike since September 2023 and at least a temporary per...
Evorona/iStock via Getty Images The war in the Middle East continues to disrupt flows from the region and helps shape risk appetites. After falling by almost 14% in the last two weeks of May, July WTI rose about 4.5% last week as there seemed to be little progress toward a resolution. The odds that the Strait of Hormuz on Polymarket seem more cautionary and stable than the vagaries of the capital ...
Evorona/iStock via Getty Images The war in the Middle East continues to disrupt flows from the region and helps shape risk appetites. After falling by almost 14% in the last two weeks of May, July WTI rose about 4.5% last week as there seemed to be little progress toward a resolution. The odds that the Strait of Hormuz on Polymarket seem more cautionary and stable than the vagaries of the capital market and oil futures. On that event site, there is about an 18% chance that the Strait is opened by the end of June and about 36% that it is opened by the end of next month. Meanwhile, monetary policy is also in play. The Bank of Canada and the European Central Bank meet on Wednesday and Thursday, respectively. Even though revisions at the end of last week showed the regional economy contracted in Q1, the market is highly confident that the ECB will hike rates and signal that it will remain vigilant, i.e., that it is prepared to raise rates again. The deposit rate will stand at 2.25% at the end of next week. On the other hand, there is practically no chance that the Bank of Canada will change its 2.25% policy rate. The Canadian economy unexpectedly contracted in Q1 26, the second consecutive quarterly contraction. Still, ahead of the weekend, Canada reported an increase of 154k full-time positions in May and a drop in the unemployment rate to 6.6% from 6.9%. Canada's and the EU-harmonized CPI baskets are quite different, yet Canada's April headline CPI was 2.8% and its core rate was at 1.5%, and its underlying core measure average was about 2.05%. The eurozone's May CPI was 3.2%, and the core was 2.5%. US Drivers: The greenback remains sensitive to geopolitical developments, and when news gives reason to be hopeful of an extended ceasefire, the dollar is typically sold. In terms of financial variables, the 30-day correlation of changes in the Dollar Index and the two-year US yield is around 0.75, near the highest since late 2016. The correlation of changes in the Dollar I...