Pound surges to highest level against the euro for more than two-and-a-half years as ECB eyes urgent rate cuts By DAILY MAIL CITY & FINANCE REPORTER Updated: 17:04 EST, 10 December 2024 e-mail 1 View comments The pound hit its highest level against the euro for more than two-and-a-half years yesterday. Sterling’s surge came as the European Central Bank (ECB) prepares to cut interest rates to prop up the struggling economy. The pound rose as high as €1.2136 – just shy of the €1.2189 it reached in March 2022. It has not been higher than that since the Brexit vote in 2016. It came as investors bet that the ECB will cut rates again tomorrow in a bid to kick-start the eurozone economy. By contrast, the Bank of England is expected to leave rates unchanged next week. Lower interest rates tend to weaken a currency so the prospect of a rate cut in the eurozone, but not the UK, has pushed the euro lower against the pound. Rally: The pound rose as high as €1.2136 – just shy of the €1.2189 it reached in March 2022. It has not been higher than that since the Brexit vote in 2016 RELATED ARTICLES Previous 1 Next Trump unleashes animal spirits to turbocharge US: But UK... Pound surges to highest level against the euro for more than... Share this article Share HOW THIS IS MONEY CAN HELP How to choose the best (and cheapest) stocks and shares Isa and the right DIY investing account DIY INVESTING PLATFORMS AJ Bell AJ Bell Easy investing and ready-made portfolios Learn More Learn More Hargreaves Lansdown Hargreaves Lansdown Free fund dealing and investment ideas Learn More Learn More interactive investor interactive investor Flat-fee investing from £4.99 per month Learn More Learn More Saxo Saxo Get £200 back in trading fees Learn More Learn More Trading 212 Trading 212 Free dealing and no account fee Learn More Learn More Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence. Compare the best investing account for you Share or comment on this article: Pound surges to highest level against the euro for more than two-and-a-half years as ECB eyes urgent rate cuts e-mail Add comment Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence. More top stories
EXCLUSIVE: Boss Mark Cowie reacts as Fraserburgh land dream Scottish Cup draw against Rangers – again!
In your everyday life, time and space know how to behave. A kilometre is a kilometre, and an hour is an hour – no matter how late you are running. Perception is not reality. Einstein showed space and time were one thing, and it bends and warps. A decade ago, astronomers for the first time observed gravitational waves: universe-spanning ripples that move through space-time – and through us. This discovery proved to be only part of the story. Astronomers are finding our universe is so permeated by gravitational waves, the fabric of reality is constantly in flux. Australian astronomers have created the most detailed maps of gravitational waves across the universe to date. Credit: Carl Knox / OzGrav / Swinburne University of Technology / South African Radio Astronomy Observatory The picture that is coming into focus, says astronomer Dr Matt Miles, is one that shows the universe as a vast ocean, dark and powerful. “The Earth is really just a ship, being bounced across the waves. The universe is constantly changing size. Time is constantly changing. The Earth is just riding that wave.” In a series of papers published last week in the Monthly Notices of the Royal Astronomical Society , a group of Australian astronomers reveal the strongest evidence yet for what they call the “gravitational wave background”: the constant rippling of space-time. Einstein imagined space like a piece of stretched fabric, with stars and planets and black holes scattered across it. Their mass bends and curves the fabric. The moon orbits the Earth because it is trapped in the depression in space-time created by the Earth’s mass – it spins like a coin in a funnel. Now, on the stretched fabric of space, introduce a very heavy spinning object: a pair of super-massive black holes orbiting each other. University of Sydney researcher Dr Sean Farrell was part of an international team of astronomers which observed a star that had strayed too close to a super-massive black hole being torn apart. Credit: Ute Kraus These spinning objects create ripples that spread through the sheet: gravitational waves. As these waves pass through us, space is distorted just slightly. The Earth – and everyone on it – widens and then shrinks. Why don’t we notice? Because a fish that lives in the ocean does not notice the waves. “Waves and currents pass through the literal fabric they live in,” says Rowina Nathan, an astronomer at Monash University who co-wrote one of the papers. “It’s the same for us.” Scientists have been spotting single waves passing through Earth since 2015. The new papers show waves are rippling throughout the entire universe. The LIGO interferometer in Livingston, Louisiana, which is used to detect gravitational waves. The team took observations of pulsars, rapidly spinning remains of supernovas, which emit bursts of radiation with such regularity they can be used as cosmic lighthouses. Over almost five years, the team used the MeerKAT radio telescope in South Africa to measure the distance between Earth and 83 pulsars. They watched as the distances widened and shrank – by up to the size of a tennis court – revealing what Miles describes as a “cacophony of noise” from the many waves they could see. With this information, they have created the most detailed maps of gravitational waves across the universe to date. Exotic explanations The next question to answer: what is causing these waves? The simple answer, if you can call it that, is super-massive black hole pairs. We know they produce single waves; it is likely there are enough of them out there to set the fabric of reality constantly in motion. But there are other more exotic explanations. “The physics is a little wild,” admits Miles, an astronomer with OzGrav at Swinburne University who led two of the papers. The first is known as “cosmological phase transition”. In the moments after the Big Bang, the universe was so hot the physical forces, like electromagnetism, that govern our reality had not yet formed. Eventually, parts of the universe cooled enough for basic physics to start functioning. But – in theory – this did not happen everywhere at once. This produced regions within the early universe operating on different physical laws. As these regions – or bubbles – came into contact with each other, the different physics collapsed into symmetry, releasing huge amounts of energy – and, possibly, gravitational waves. The gravitational wave background may be the leftover ripples from the bursting of those bubbles. If that theory is not exotic enough, there’s a second: cosmic strings. When the regions of the early universe came into contact, rather than bursting, they may have created long fractures – imperfections in the fabric of space-time. “They get frozen in when the universe cooled from its very hot state. And you can’t get rid of them,” says Professor Eric Thrane, an astrophysicist at Monash University. As these long fractures move, they could also generate gravitational waves. “People really believe in these. We don’t know if we’ll ever be able to prove it,” says Miles. Gravitational waves further tell us the universe is a strange and wonderful thing. “The universe is this very exciting cosmic dance,” says Miles. “And the Earth is going along with the motions.” The Examine newsletter explains and analyses science with a rigorous focus on the evidence. Sign up to get it each week .
Our community members are treated to special offers, promotions and adverts from us and our partners. You can check out at any time. More info Musa Drammeh was up all night worrying he’d made a major mistake in moving to Hearts after being bombed out of Steven Naismith’s Europa Conference League squad. But the Spanish striker is now wide awake and convinced he’s made the correct call after finally blasting his way into new boss Neil Critchley’s first team. Drammeh has been forced to be patient following his summer switch to Gorgie from Sevilla B team in the Spanish third division. The 22 year-old managed just 42 minutes of action across three substitute appearances before being handed his first start on Sunday in the 1-1 draw with Aberdeen. Drammeh notched a consolation goal from the bench in the 4-1 loss to Celtic to win his spot against the Dons and he is claiming the leveller against the Dons despite the ball diverting off Nicky Devlin. And the frontman is hoping it’s just the start he needs at Tynecastle after his early worries. Drammeh said: “The day Steven Naismith told me this (about not being included in the Conference League squad) I didn’t sleep. That was so bad. But that's football. “They sent me a message saying I was not going to be in the squad but I'm going to have more game time. He told me I had to understand Scottish football. “They explained to me that I came from a lower division in Spain, so I needed time to get used to Scottish football. But I think the Musa of four months ago and now is not too different. I don't know if I played three months ago if I would have helped score these goals. “But I think if you are a footballer, you think you are ready for that. It's been a tough time for me because I haven’t played, I didn't make the squads. “And for someone who's 22-years-old and comes from Spain to be here alone, that's difficult. But the last few games have been worth it. That's worth it very much. “When you don't play, you always think, did I make a mistake or not? But I think that's worth it because you're in the first division, you're in this club with these fans. So, for me, I'm 100 percent secure. I'm going to be good here.” Drammeh could give struggling Hearts the cutting edge they need amid a nightmare run of five games without a win that’s left them bottom of the Premiership. The Dons draw halted a slide of four defeats on the spin and Drammeh is convinced his new gaffer will get the best of him and lead a charge back up the table. He said: “The manager told me I had been good for the last month because I was training well. That's why he gave me the chance. “He always talks to me in training when I'm not in the squad. He always explains to me why. That's what I want. Someone explains to me why I'm not in the squad or why I'm not playing. “He tells me, your mom is going to arrive. Keep training, keep training. I keep training and my chance has arrived. “And to hear the fans sing my name, I have waited for this for five months. “I hope this is the beginning for me. I said when I first came here I want to be remembered when I leave. “I've been ready for the last four, five months. I hope I can show this now.”KUWAIT: Kuwait Times recently visited Al-Hayat Universal Bilingual School to introduce students in grades six to eight to the world of journalism. The visit, organized by the school’s English department, is in line with the newspaper’s ongoing efforts to promote media literacy and give back to the community. During the visit, Nebal Snan, a journalist from Kuwait Times, shared valuable insights into the role of journalists, explaining how they help document significant events and shape the way future generations view the world. The students were engaged by real-life examples from the Kuwait Times archive, including stories about UFO sightings in Kuwait, highlighting the diverse topics journalists cover and the influence of media on public perception. The session also stressed the importance of critical thinking in both consuming and creating news. The students were encouraged to question the news they encounter and think about how the media shapes their views. They were also introduced to the growing role of technology in journalism. Students listened to how smartphones and social media are allowing ordinary people to become “citizen journalists,” sharing news from areas where professional reporters may be unable to reach, including war zones such as Gaza. Through this initiative, Kuwait Times is helping to raise awareness about the power and responsibility of journalism, ensuring that students understand the importance of media literacy and journalistic integrity in today’s digital age.
The Extinction of Small Used Car Dealerships: A Closer Look at Corporate ExploitationStoli vodka files for bankruptcy in the United StatesRussian President Vladimir Putin Russian President Vladimir Putin says he has a stock of new missiles ready to be used and that no other nation has weapons like Russia. Mr. Putin said the Oreshnik missile could not be intercepted and promised to carry out more tests, including in "combat conditions". Russia's use of the Oreshnik capped a week of escalation in the war that also saw Ukraine fire US and British missiles into Russia for the first time. Ukraine's President Volodymyr Zelensky has called for a "serious response" to Russia's use of a new experimental ballistic missile, saying Putin will keep trying to intimidate Ukraine. Prime Minister of Poland Donald Tusk says the threat of global conflict is serious and real with the Ukraine-Russia war entering a decisive phase. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1531230668029-0'); });
GM to retreat from robotaxis and stop funding its Cruise autonomous vehicle unit
No. 2 Auburn arrives for prove-it game at No. 9 DukeMEXICO CITY (AP) — Over 18,000 people in Mexico have registered online to run for Supreme Court seats and federal judgeships in the country's contentious new selection process , but a random drawing in the end will determine who gets on the ballot, officials said Monday. The ruling party pushed through a constitutional reform in September to make all federal judges stand for election, replacing the system where court employees and lawyers mainly move up through the ranks. Current court employees and their supporters have staged dozens of demonstrations against the reforms, calling them part of a ruling-party campaign to weaken checks and balances and eliminate independent regulatory and oversight bodies. Now, candidates for Supreme Court seats and federal judgeships need only a law degree, a grade point average of 3.2, “five years of professional experience” and five letters of recommendation from neighbors or friends. That, and some luck in the final drawing. Officials rejected criticism that has called the process rushed or amateurish for the often highly technical posts that can hear cases including intellectual property, organized crime and Constitutional law. “The results have been spectacular,” said Arturo Zaldivar, a top advisor to President Claudia Sheinbaum. According to the plan, evaluation committees will have just over a month to review thousands of resumes and whittle the field to about 10 candidates or less for each for the 881 judgeships and nine seats on the Supreme Court. Then 1,793 names chosen at random from those selected will appear on the ballot on June 1. Critics warn that many who land on the ballot will be unknowns who perhaps have never argued a case in the courts they seek to run. “You don’t elect a doctor or a surgeon for an operation based on their popularity, you elect them based on their technical expertise, their ability, their knowledge,” said Sergio Méndez Silva, the legal coordinator for the civic group Foundation for Justice. “That also applies for a judge.” With candidates now having to run election campaigns, critics warn there's a chance drug cartels or political parties could finance them to get friendly judges onto the bench. There are also concerns that the evaluation committees deciding who makes the cut for the selection to appear on ballots may not be impartial. Most committee members were appointed by the legislative or executive branches, controlled by the ruling Morena party. Some critics argue that the current justice system, which is riddled with nepotism, corruption and a lack of accountability, needs to be changed. “We need a justice system that gives results,” said Martínez Garza, an academic and former head of the human rights commission in the northern border state of Nuevo Leon who has registered to run for a Supreme Court seat. Trials in Mexico can last for years, and the ruling party has added to the growing list of crimes for which bail is not allowed, meaning that a large percentage of the prison population is people awaiting trial.
The standard Lorem Ipsum passage, used since the 1500s "Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum." Section 1.10.32 of "de Finibus Bonorum et Malorum", written by Cicero in 45 BC "Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione voluptatem sequi nesciunt. Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt ut labore et dolore magnam aliquam quaerat voluptatem. Ut enim ad minima veniam, quis nostrum exercitationem ullam corporis suscipit laboriosam, nisi ut aliquid ex ea commodi consequatur? Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem eum fugiat quo voluptas nulla pariatur?" Thanks for your interest in Kalkine Media's content! To continue reading, please log in to your account or create your free account with us.Jordan Mason injury update: 49ers RB joins Christian McCaffrey on IR
Activist who claims ties to Pocahontas is not part of her tribe, according to former chiefNew Banking Laws: Progression or Regression?