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Stocks gained Wednesday morning, with the three major indexes set to rise for a third straight session as concerns over tightening monetary policy at least temporarily faded.
* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E (Adds quotes, updates prices; changes dateline, previous LONDON) By Karen Brettell NEW YORK, June 23 (Reuters) - The dollar retreated on Wednesday after Federal Reserve Chair Jerome Powell on Tuesday said that rising inflation is likely temporary and showed no signs of being in a hurry to tighten monetary policy. The dollar jumped after the Fed surprised markets on June 16 by saying that policymakers are forecasting two interest rate hikes in 2023. “Dollar gains have faded after Mr. Powell downplayed higher inflation lasting for very long,” said Joe Manimbo, senior market analyst, at Western Union Business Solutions in Washington.
U.S. applications for home mortgages increased last week driven by an increase in refinancing activity and an uptick in purchase applications. The Mortgage Bankers Association (MBA) said on Wednesday its seasonally adjusted market index rose 2.1% in the week ending June 18 from a week earlier. This reflected a 2.8% increase in applications for refinancing and was 9% lower than the same week one year ago.
Lego has found a way to go green. The Danish toymaker says some of its iconic bricks will soon be made from recycled plastic. And that's no small feat.The firm currently uses about 100,000 tonnes of oil-based plastics each year. Tim Brooks is Lego's vice president of environmental responsibility. He says the company felt pressure from consumers: "We want to be a responsible user of plastic. We understand the concern that both children and adults have of plastic out there in the world and certainly plastic in landfill or in the environment and we believe that recycled material is one of the best ways to address that."The green bricks will be made from recycled drink bottles. A standard one-litre bottle will yield about ten regular bricks. Getting the technology right has proved challenging, and expensive. Lego said last year it would spend $400 million stepping up efforts to use sustainable materials. There are still two challenges to overcome with the new bricks: "What we're still working on is the fact that we want to be able of course to colour it into this bright green colour from this grey."Lego expects the first bricks made from recycled plastic to hit the market in 18 to 24 months. Rival Mattel, best known as the maker of Barbie dolls, says it will make its toys from sustainable materials from 2030.
Paying for news remains a minority activity, with just 8 per cent saying they currently pay for any online news
Visitors to the new Royal Academy of Dance (RAD) will be able to watch the next generation of star performers learn their trade. RAD Chief Executive Luke Rittner said he hoped the new building, which is just down the road from their old Battersea HQ, would become “a destination” for the public. The new HQ replacing the “incredibly inaccessible” old building will include a café, shop, archive and space for exhibitions, receptions and lectures with the extra exhibition space will allow the academy to put on show items from its archive that are currently on display at the V&A.
More than 200 music artists, including Radiohead, The Chemical Brothers and Pink Floyd drummer Nick Mason, backed a campaign on Wednesday calling on the British government to reduce costs and red tape to make post-Brexit touring around Europe easier. Five years since Britons voted to leave the European Union, the #LetTheMusicMove campaign says Brexit-related expenditure, restrictions and bureaucracy are "making EU touring unviable and threatens the future success of British music". British musicians wanting to play in Europe now face extra paperwork and costs once touring resumes.
This arsenal of skincare and make-up buys will help to calm redness and soothe irritated skin
‘We will not shy away from upholding international law and our rights on the sea’, Ben Wallace vows
The owners and insurers of the giant container ship that blocked the Suez Canal for nearly a week earlier this year have reached an agreement in principle over their dispute with canal authorities, according to representatives from both sides.Stann Marine, the lawyers representing the vessel's owners and insurers, and a spokeswoman for the Suez Canal Authority both confirmed the development.
A measure of U.S. factory activity climbed to a record high in June, but manufacturers are still struggling to secure raw materials and qualified workers, substantially raising prices for both businesses and consumers. Data firm IHS Markit said on Wednesday its flash U.S. manufacturing PMI rose to a reading of 62.6 this month. A reading above 50 indicates growth in manufacturing, which accounts for 11.9% of the U.S. economy.
There’s change afoot in St Ives. Old school fish and chippies have been joined by gastronomic destinations offering the best of Cornwall’s bounty. Molly Codyre rounds up the highlights
A study of past tournament winners suggests steady rather than scintillating is the most important trait for national teams
(Bloomberg) -- The ex-wife of sanctioned Russian billionaire Oleg Deripaska is in talks with sovereign fund Mubadala Investment Co. to sell part of her stake in the power and aluminum company En+ Group International PJSC, according to people familiar with the matter.Abu Dhabi’s sovereign wealth fund is close to an agreement with Polina Yumasheva to pay about $200 million for a stake in the company founded by her former husband, the people said, declining to be identified because the information
Celebrity chef Wolfgang Puck, known for feeding Hollywood stars at the post-Oscars Governor's Ball feast, stars in his own film "Wolfgang", which looks back on his life and career. In an interview with Reuters, Puck and director David Gelb spoke about making the film, released on Disney+ on Friday. Q: Why did you want to make the film?
A rewards credit card gives you the opportunity to earn something back as you spend. This can be airmiles, loyalty points or – in the case of cashback credit cards – straight cash paid back to your card account. This means that, used in the right way, reward and cashback cards can occupy a welcome place in your wallet.
Sadiq Khan has told Londoners whose cars will breach the ultra-low emission zone rules to consider trading them in for a newer model if they want to avoid the £12.50-a-day levy. The Ulez is due to expand from central London to the boundaries of the North and South Circular roads on October 25. City Hall estimates that about one in five vehicles in the enlarged 140 square mile zone will be liable to pay the levy, including 100,000 cars, 35,000 vans and 3,000 lorries.
Demand for holidays in Europe is 'mushrooming'- according to Ryanair group CEO Michael O'Leary.O'Leary said Wednesday (June 23) that the budget airline was on track to fly 80 to 100 million passengers by March 2022.That is up from 27.5 million last year, but still well below pre-health crisis levels of 149 million."Bookings have recovered and recovered very strongly in the last I would say eight weeks they're recovering much more strongly in Germany in Benelux in Scandinavia, people coming to Portugal from those countries. The UK and Ireland are opening up more slowly because of... not because of delta variant but because of political cowardice they are terrified to allow people even vaccinated people to travel, but we think that will get resolved with the EU digital certificate on the first of July and we believe the UK will join in that system."Britain allowed vacations again from May after months of lockdown, but is still discouraging travel to popular holiday destinations such as Spain, France and Greece.They are all classified as "amber" under its "traffic light" system.Last week, Ryanair launched a legal challenge against Britain over the system, hoping to force a relaxation of the rules.
Spain need a victory to guarantee their progress into the last 16
The Engadget staff shares some of their favorite memories of the console on its 25th birthday.