Municipality Finance Plc Stock exchange release 25 October 2024 at 10:00 am (EEST)
Municipality Finance issues USD 150 million notes under its MTN programme
Municipality Finance Plc issues USD 150 million notes on 28 October 2024. The maturity date of the notes is 28 October 2027. MuniFin has a right, but no obligation, to redeem the notes early on 28 October 2025. The notes bear interest at a fixed rate of 4.06% per annum.
The notes are issued under MuniFin’s EUR 50 billion programme for the issuance of debt instruments. The offering circular, the supplemental offering circular and the final terms of the notes are available in English on the company’s website at https://www.kuntarahoitus.fi/en/for-investors.
MuniFin has applied for the notes to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 28 October 2024.
Natixis SA, Paris acts as the dealer for the issue of the notes.
MUNICIPALITY FINANCE PLC
Further information:
Joakim Holmström Executive Vice President, Capital Markets and Sustainability tel. +358 50 444 3638
MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions. The company is owned by Finnish municipalities, the public sector pension fund Keva and the Republic of Finland. The Group’s balance sheet totals over EUR 50 billion.
MuniFin builds a better and more sustainable future with its customers. MuniFin’s customers include municipalities, joint municipal authorities, wellbeing services counties, corporate entities under their control, and non-profit organisations nominated by the Housing Finance and Development Centre of Finland (ARA). Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.
MuniFin’s customers are domestic but the company operates in a completely global business environment. The company is an active Finnish bond issuer in international capital markets and the first Finnish green and social bond issuer. The funding is exclusively guaranteed by the Municipal Guarantee Board.
The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any such country or jurisdiction or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities or other financial instruments in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.
This communication does not constitute an offer of securities for sale in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.
There’s a degree of irony that countries attending the 2024 Brics summit this week voted to adopt the Kazan declaration (named for the capital city of the autonomous republic of Tatarstan in Russia, where the summit is being held). The declaration’s first clause emphasises that “all states should act consistently with the Purposes and Principles of the UN Charter in their entirety”. There’s also a certain amount of chutzpah on the part of conference chair, Vladmir Putin, whose ongoing invasion of Ukraine is so egregiously in breach of that charter.
Article one stresses that the primary purpose of the UN is to “maintain international peace and security”. Article two rules that: “All Members shall settle their international disputes by peaceful means”. If that’s not clear enough, it goes on to further insist that: “All Members shall refrain in their international relations from the threat or use of force against the territorial integrity or political independence of any state.”
Still, its a funny old world in which the UN secretary general, António Guterres, pitches up at a summit whose host is wanted on an arrest warrant issued by the International Criminal Court on charges relating to the alleged illegal deportation of Ukrainian children to Russia. In a country whose troops are currently fighting in Ukraine in direct contravention of the UN’s charter.
To add a further layer of irony, October 24 is the 79th anniversary of the entry into force of the UN Charter in 1945.
Guterres called on Putin to agree a peace deal “in line with the UN Charter, international law and UN General Assembly resolutions”. The Russian leader is perhaps more likely to listen to a deal proposed by the Chinese president, Xi Jinping. He said: “We must uphold the three key principles: no expansion of the battlefields, no escalation of hostilities, and no fanning flames and strive for swift de-escalation of the situation.”
Now, more than ever, it’s vital to be informed about the important issues affecting global stability. Sign up to receive our weekly World Update newsletter. Every Thursday we’ll you expert analysis of the big stories making international headlines.
The UN chief’s idea of a just peace would call for Russia to give up its illegal occupation of Crimea and eastern Ukraine. Xi’s proposal appears to call for a deal based on the status quo – virtually the opposite, in other words.
This is pretty much all Ukraine can hope for, as far as the University of Portsmouth’s Frank Ledwidge is concerned. Ledwidge, who has written regularly for The Conversation since Putin launched his invasion in February 2024 and is well plugged into defence and intelligence networks in Nato as well as in Ukraine itself, believes that Ukraine cannot defeat Russia – at least as things stand.
Ledwidge says Ukraine’s western allies are partly to blame for the maximalist aims of the country’s president Volodymyr Zelensky. Western rhetoric has not properly been matched by sufficient weapons or the permission to use them as effectively as the situation warrants. Now is the time for realism, he writes:
A starting point could be accepting that Crimea, Donetsk and Luhansk are lost … Then we need to start planning seriously for a post-war Ukraine that will need the west’s suppport more than ever.
One of the key factors that Ledwidge stresses is that just one of Russia’s allies, North Korea, has supplied twice as many artillery shells this year as the whole of Europe. Now North Korean troops are apparently also about to join their Russian comrades on the battlefield. This, writes Ra Mason – a Korea specialist at the University of East Anglia – will help ease the pressure on Putin to bring forward his mobilisation plans.
Losing battle? The state of the conflict in Ukraine, October 23. Institute for the Study of War
It’s a diplomatic coup for Putin, Mason believes – it’s a “clear show of opposition towards the Washington-led global order”, which “deals a further blow to the myth that the Russian Federation is isolated, as an international pariah, in a world led by western powers.”
But a military coup de grace against Ukraine? Probably not. The jury is out on how effective North Korea’s “poorly equipped, unmotivated and undernourished” troops will be against Ukraine’s highly motivated defenders. It will also be interesting to see where and how they are deployed. If sent to the frontlines in Kursk, they’ll be helping an ally in its struggle against an incursion by Ukrainian forces. If deployed inside Ukraine, they’ll join Russia in breach of international law. Mason concludes:
If sent into new theatres of war against state-of-the-art Nato-supplied weaponry, it could effectively mean waves of ill-prepared cannon fodder being thrown into the meat grinder of Donbas’ trenches.
Incidentally, the term “meat grinder” has been much bandied about of late. It follows reports from US intellegence recently that, while Russian forces have been making rapid advances and gaining a significant amount of ground in recent weeks, they are doing so at considerable cost in terms of dead and wounded. September was a particularly bloody month, with reports of Russian losses of more than 1,000 men a day, killed or wounded.
But Russian military strategists are well versed in such pyrrhic victories, writes historian Becky Alexis-Martin, who points to equally savage losses in Russia’s defence against Napoleon and in the first and second world wars. Stalin, in particular, was able to defeat the Nazi war machine by, inter alia, throwing millions of troops at their enemies (and incurring terrible casualties). But it’s not a strategy that guarantees success. And terrible psychological effects are beginning to manifest themselves in veterans returning from Ukraine with severe and often violent post-traumatic stress disorder.
As if things weren’t bad enough for Zelensky on the battlefield, the Ukrainian president was dealt a serious blow earlier this month when the US president, Joe Biden, was forced by extreme weather events, including a hurricane hitting the state of Florida, to cancel the planned meeting of the heads of government of up to 50 of Ukraine’s western allies in Germany. The “Ramstein Group”, so-called after the German air base at which they meet, was scheduled to meet in the second week of October to consider Zelensky’s “victory plan”. Stefan Wolff, an international security expert at the University of Birmingham writes that the Ukrainian president was hoping to get some degree of commitment for a path to Nato membership for Ukraine as well as permission to use western-supplied long-range missiles against targets deep inside Russia.
Neither of these seem likely to happen in the short term, says Wolff. Like Ledwidge, Wolff thinks Ukraine is doomed to defeat unless its allies double down on their aid – and fast. And like Ledwidge, Wolff sees little indication of that happening any time soon.
When it comes to continuing US support for Ukraine’s war effort, all eyes are now firmly fixed on November 5. The outcome of the presidential election will be seriously consequential for Ukraine’s future. Both candidates have made their positions clear and there is considerable difference between the two positions.
Donald Trump has said any number of times that had he not lost that “rigged and stolen” election to Biden in 2020, Putin would never have invaded Ukraine in the first place. Still, he says, if he wins this one, he’ll bring the war to a very rapid conclusion. But it remains to be seen, given Trump’s oft-stated admiration for Putin, whether the conclusion will be palatable to Kyiv – or to Nato in general.
Trump’s opponent, Kamala Harris, said the former president’s proposals are not “proposals for peace, they’re proposals for surrender”. As vice-president during the Biden administration, she flew to Europe not long after the invasion in February 2022 to help shore up support for Kyiv. Harris has also regularly restated her intention to continue to back Ukraine against Russia. In the only debate of the campaign she said that Ukraine was not Putin’s final stop and that he has “his eyes on the rest of Europe, starting with Poland”.
Poland, incidentally, is an interesting case in point. While it is Ukraine’s firmest ally and it leadership is four-square behind Kyiv, the people are curiously divided on the country’s support for Ukraine. You can read more about that here.
One imagines that Zelensky is as transfixed as anyone else on the 2024 US presidential election campaign as it heads into its final ten days. All we can tell you is that the polls are still very, very close. Well within most pollsters’ margin for error, in fact. A poll of polls, which combines polls from different agencies, published on the website FiveThirtyEight on October 22 shows that Harris leads Trump by 48.1% to 46.3% in the national popular vote. But the accepted popular wisdom is that the complex electoral college system used in the US may well favour Trump’s candidacy.
We’ll be providing daily updates on the US presidential race and full coverage of election day on November 5 and its aftermath.
The UN global agreement to halt and reverse the ongoing loss of biodiversity – the Kunming-Montreal Global Biodiversity Framework – was adopted in 2022. Implementation efforts are being followed up at the 16th Conference of the Parties to the Convention on Biological Diversity (CBD COP16) taking place in Cali, Colombia on 21 October–1 November 2024.
Taking place in conjunction with COP16 are Conferences to the Parties of two protocols: the Cartagena Protocol on Biosafety (COP-MOP11) and the Nagoya Protocol on Access to Genetic Resources and the Fair and Equitable Sharing of Benefits Arising from their Utilization (COP-MOP5).
Sweden is part of the EU negotiating delegation at COP16. The top priority for Sweden is issues that are particularly important for the implementation of the Framework – the Conference’s adoption of an updated monitoring framework and a transparent review process for follow-up of the global targets, including reporting.
Decisions are also expected to be taken at the Conference on the following priority issues for Sweden:
a long-term strategy for resource mobilisation from all sources;
intensifying cooperation between climate and biodiversity, since climate change and the threat to biodiversity must be addressed collectively;
the design of the mechanism for digital sequence information (DSI),
a new work programme and stronger engagement in the Convention’s work for indigenous people and local communities; and
action plan on biodiversity and health.
In addition, negotiations on marine issues will be held to further the work on ecologically or biologically significant marine areas, which is also a priority issue for Sweden. Earlier this year, the Government presented the Bill ‘A living sea – increased protection, reduced eutrophication and sustainable fishing’, in which its proposals include reaching the target of protecting 30 per cent of marine areas – one of the key objectives in the Kunming-Montreal Framework – by 2030.
Several representatives of Business Sweden and the business sector are in Cali. Business engagement is key to halting and reversing the loss of biodiversity, which Minister for Climate and the Environment Romina Pourmokhtari highlighted as she delivered the opening address at a Confederation of Swedish Enterprise seminar in September 2024.
Ms Pourmokhtari is leading the Swedish negotiating delegation, which consists of more than 20 people from the Government Offices, the Swedish Environmental Protection Agency, the Swedish Agency for Marine and Water Management, the Swedish International Development Cooperation Agency (Sida), the Sami Parliament, Stockholm Resilience Centre and the Riksdag.
Sida Director-General Jakob Granit and the Embassy of Sweden in Colombia are also taking part. This year, Sweden and Colombia are celebrating 150 years of bilateral relations. They enjoy close cooperation on a number of issues, none more so than the green transition.
The clan leader was apprehended in Barcelona on 18 October, followed by the arrest of his lieutenant on 22 October. Both were wanted for charges including murder, attempted murder and kidnapping of rival gang members in Serbia, Austria, Germany and Spain.The clan leader was considered one of Europe’s most wanted and dangerous fugitives.The ” VračarClan”, a sub-clan of the “Kavač”…
Headline: 2024 ICPC Challenge Championship Powered by Huawei Concludes in Shenzhen
Oct 25, 2024
[Shenzhen, China, October 25, 2024] ICPC Challenge Championship powered by Huawei (the Championship) just ended in Shenzhen, marking the second consecutive year the event was held in China. The Championship is jointly organized by Huawei and the International Collegiate Programming Contest (ICPC). It brings together top programmers from around the world to discuss solutions to real-world industry problems, as well as key technology trends and future challenges. This year’s event was attended by more than 90 coaches and contestants from 35 countries and regions.
After five hours of intense competition, Japan’s Hirotaka Yoneda won the Championship. Nine other contestants from China, Armenia, Poland and other countries shared second and third prizes.
At the opening ceremony, Zhou Hong, President of Huawei’s Institute of Strategic Research, said: “We will enter an intelligent world within the next 20 to 30 years. This is bringing about unprecedented opportunities, but also creating huge challenges that can only be solved through the joint efforts of bright minds from around the world. Huawei is committed to sharing real-world challenges currently and our hypotheses for the future, opening up our platforms, and working alongside academic and industrial experts and talent, in order to promote major breakthroughs in theoretical research of fundamental science, push the boundaries of application technology, and contribute to a prosperous world.”
Zhou Hong, President of Huawei’s Institute of Strategic Research, at the opening ceremony
The Championship is part of Huawei’s ongoing commitment to opening up research platforms in the device, computing, and connectivity fields. It provides next-generation problem-solvers an opportunity to showcase their talent. Since 2019, Huawei and ICPC jointly organized the ICPC Challenge, which has grown into a major event in the world of programming. In 2023, the first ICPC Challenge Championship powered by Huawei was held. The event is mostly for winners of previous ICPC Challenges as well as outstanding contestants from ICPC regional contests and world finals, providing a networking and competitive platform for top programming talent.
During the Championship competition, contestants had five hours to program a solution to the problem of optimal photo-story matching, which is closely linked to our daily lives. The Championship tested not only contestants’ programming and optimization skills, but also their modeling capabilities and innovative thinking.
A partial view of competitors during the Championship
During the Championship, a range of side activities were organized for participants. For instance, problem designers and contestants from previous competitions shared their experiences. At sessions called Tech Talks, senior Huawei technology leaders shared their insights into technology trends and challenges faced by industries, while encouraging young talent to hone their creativity and potential. Presenters included Huawei Fellow Chen Haibo; Chief Scientist of Huawei Consumer BG, Tian Qi; Media Algorithm Scientist of Huawei HiSilicon, Michael Bi Mi; and Director of Huawei Consumer BG Software Engineering Human Resource Dept., You Jin.
Huawei will continue supporting top international competitions. By designing problems and facilitating technical exchanges, Huawei will help coaches and contestants explore the latest industrial knowledge and challenges, encourage more talented people to engage in innovation, and drive the flow of knowledge and skills worldwide. Ultimately, this will promote global technology and industry development and improve social well-being.
Headline: 2024 ICPC Challenge Championship Powered by Huawei Concludes in Shenzhen
[Shenzhen, China, October 25, 2024] ICPC Challenge Championship powered by Huawei (the Championship) just ended in Shenzhen, marking the second consecutive year the event was held in China. The Championship is jointly organized by Huawei and the International Collegiate Programming Contest (ICPC). It brings together top programmers from around the world to discuss solutions to real-world industry problems, as well as key technology trends and future challenges. This year’s event was attended by more than 90 coaches and contestants from 35 countries and regions.
After five hours of intense competition, Japan’s Hirotaka Yoneda won the Championship. Nine other contestants from China, Armenia, Poland and other countries shared second and third prizes.
At the opening ceremony, Zhou Hong, President of Huawei’s Institute of Strategic Research, said: “We will enter an intelligent world within the next 20 to 30 years. This is bringing about unprecedented opportunities, but also creating huge challenges that can only be solved through the joint efforts of bright minds from around the world. Huawei is committed to sharing real-world challenges currently and our hypotheses for the future, opening up our platforms, and working alongside academic and industrial experts and talent, in order to promote major breakthroughs in theoretical research of fundamental science, push the boundaries of application technology, and contribute to a prosperous world.”
Zhou Hong, President of Huawei’s Institute of Strategic Research, at the opening ceremony
The Championship is part of Huawei’s ongoing commitment to opening up research platforms in the device, computing, and connectivity fields. It provides next-generation problem-solvers an opportunity to showcase their talent. Since 2019, Huawei and ICPC jointly organized the ICPC Challenge, which has grown into a major event in the world of programming. In 2023, the first ICPC Challenge Championship powered by Huawei was held. The event is mostly for winners of previous ICPC Challenges as well as outstanding contestants from ICPC regional contests and world finals, providing a networking and competitive platform for top programming talent.
During the Championship competition, contestants had five hours to program a solution to the problem of optimal photo-story matching, which is closely linked to our daily lives. The Championship tested not only contestants’ programming and optimization skills, but also their modeling capabilities and innovative thinking.
A partial view of competitors during the Championship
During the Championship, a range of side activities were organized for participants. For instance, problem designers and contestants from previous competitions shared their experiences. At sessions called Tech Talks, senior Huawei technology leaders shared their insights into technology trends and challenges faced by industries, while encouraging young talent to hone their creativity and potential. Presenters included Huawei Fellow Chen Haibo; Chief Scientist of Huawei Consumer BG, Tian Qi; Media Algorithm Scientist of Huawei HiSilicon, Michael Bi Mi; and Director of Huawei Consumer BG Software Engineering Human Resource Dept., You Jin.
Huawei will continue supporting top international competitions. By designing problems and facilitating technical exchanges, Huawei will help coaches and contestants explore the latest industrial knowledge and challenges, encourage more talented people to engage in innovation, and drive the flow of knowledge and skills worldwide. Ultimately, this will promote global technology and industry development and improve social well-being.
Source: United Kingdom – Executive Government & Departments
A further billion pounds of investment will be injected into the British economy as the Prime Minister continues his drive to attract foreign business back to the UK.
Prime Minister Keir Starmer continues drive on growth during historic first visit to the Pacific
This comes as Australian superannuation fund Aware Super forms a strategic partnership with a British property firm to invest up to £1 billion in UK property
Australian boost builds on the major success of International Investment Summit last week, which included a further £2.4 billion of investment from Down Under
A further billion pounds of investment will be injected into the British economy as the Prime Minister continues his drive to attract foreign business back to the UK.
The boost comes as UK firms break into the New Zealand banking sector, growing jobs in the UK, and expanding their global operations.
Australia’s biggest pension fund, AustralianSuper is also preparing to bolster its international investment team in London, in a major vote of confidence for the UK as a global asset management centre.
The Fund expects to manage £250 billion from its London office by 2035, an increase of more than 10 times over the next decade, from its current management of around £15 billion from its UK base.
The Prime Minister met the CEO of the Australian firm, Paul Schroder, on arrival in Samoa yesterday to discuss the move.
Meanwhile, Aware Super, one of Australia’s top performing and largest profit-for-member superannuation funds, has formed a strategic partnership with Delancey Real Estate to invest up to an initial £1 billion in UK property, further bolstering UK – Australia economic ties.
Its initial focus will be on Central London office sites in prime locations, upgrading and renovating properties to ensure they meet environmental standards and deliver on the partnership’s commitment to reducing carbon emissions in the property market.
Prime Minister Keir Starmer said:
“These investments are a major vote of confidence in the UK, and in this government.
“I am determined to ensure that UK is the best place in the world to invest and do business, so we improve the lives of hardworking people.
“By attracting strong, sustained investment, we will also build the expertise we need to drive innovation, stay ahead of the global game, and support economies around the world with British backed projects.”
AustralianSuper chief executive Paul Schroder said:
“We invest heavily in Australia, but our size requires an increasingly international focus. We are ramping up our investment capabilities in the UK as it is one of the world’s leading gateways to both talent and global markets, which are key for driving future returns for members.
“By 2035 we expect to manage approximately £250 billion of investments from our London hub, which will represent a significant portion of our global portfolio. We have great confidence in the fundamentals of the UK economy and the country’s commitment to global growth.
“This underpins our confidence in the investments we have already made in the UK such as the Canada Water urban regeneration project, London’s King’s Cross Estate, Peel Ports Group and Vantage Data Centers. We also see great potential for new investment opportunities in the energy transition, digital infrastructure, mixed-use estates, transport and logistics.”
Aware Super chief executive Deanne Stewart:
“Aware Super has strong confidence in the UK economy and markets and is pleased to announce a ground-breaking new commercial partnership that will invest up to an initial £1 billion, an exciting milestone that will coincide with the first anniversary of establishing our London Office.”
Meanwhile, UK firms obconnect and Raidiam have been making waves in the New Zealand banking sector, rolling out the British Confirmation of Payee (CoP) system to revolutionise banking in the country, in partnership with the NZ Banking Association.
No other companies are currently able to offer the same service, with the partnership combining specialist expertise of the two British companies to serve as a fulcrum for data sharing and facilitating fraud prevention across any territory.
The deal has allowed the companies to expand their UK operations to more than 250 people.
The win for the British companies come after mobile banking app Revolut broke into the New Zealand market last year. The firm is preparing to expand their operations in the country from 4 FTEs focused on New Zealand investments, to 10 over the next 12 months.
The British business wins coincide with the UK securing CPTPP ratification from Australia in the next step towards accession of the trading bloc – the first non-founding country to do so.
The boost in Australian investment also comes after a string of Australian announcements as part of the government’s International Investment Summit, which attracted more £63 billion of investment into the UK economy and created 38,000 jobs.
They included Australian firms Macquarie supporting investment of £1.3 billion into new green infrastructure and IFM investing more than £1.1 billion through Manchester Airports Group into London Stansted Airport to expand its existing terminal by around a third. The investment will secure new air routes to key business and leisure destinations, boost local supply chains and create 5,000 jobs.
The Prime Minister’s visit to Samoa for the Commonwealth Heads of Government Meeting is the first by a sitting Prime Minister to a Pacific Island. During the summit, the Prime Minister will make the case to build resilient economies across the Commonwealth to unlock growth and investment.
Source: United Kingdom – Executive Government & Departments
The Prime Minister met the President of Guyana Mohamed Irfaan Ali at the Commonwealth Heads of Government Meeting.
The Prime Minister met the President of Guyana Mohamed Irfaan Ali at the Commonwealth Heads of Government Meeting.
They reflected on the long-shared history between the two countries and their commitment to a growing economic and trade relationship.
The President updated on Guyana’s new Global Biodiversity Alliance, and they discussed the work the two countries have undertaken on the Forest and Climate Leaders Partnership.
They agreed to continue to look for opportunities to deepen ties on trade, climate finance and biodiversity.
Source: United Kingdom – Prime Minister’s Office 10 Downing Street
A further billion pounds of investment will be injected into the British economy as the Prime Minister continues his drive to attract foreign business back to the UK.
Prime Minister Keir Starmer continues drive on growth during historic first visit to the Pacific
This comes as Australian superannuation fund Aware Super forms a strategic partnership with a British property firm to invest up to £1 billion in UK property
Australian boost builds on the major success of International Investment Summit last week, which included a further £2.4 billion of investment from Down Under
A further billion pounds of investment will be injected into the British economy as the Prime Minister continues his drive to attract foreign business back to the UK.
The boost comes as UK firms break into the New Zealand banking sector, growing jobs in the UK, and expanding their global operations.
Australia’s biggest pension fund, AustralianSuper is also preparing to bolster its international investment team in London, in a major vote of confidence for the UK as a global asset management centre.
The Fund expects to manage £250 billion from its London office by 2035, an increase of more than 10 times over the next decade, from its current management of around £15 billion from its UK base.
The Prime Minister met the CEO of the Australian firm, Paul Schroder, on arrival in Samoa yesterday to discuss the move.
Meanwhile, Aware Super, one of Australia’s top performing and largest profit-for-member superannuation funds, has formed a strategic partnership with Delancey Real Estate to invest up to an initial £1 billion in UK property, further bolstering UK – Australia economic ties.
Its initial focus will be on Central London office sites in prime locations, upgrading and renovating properties to ensure they meet environmental standards and deliver on the partnership’s commitment to reducing carbon emissions in the property market.
Prime Minister Keir Starmer said:
“These investments are a major vote of confidence in the UK, and in this government.
“I am determined to ensure that UK is the best place in the world to invest and do business, so we improve the lives of hardworking people.
“By attracting strong, sustained investment, we will also build the expertise we need to drive innovation, stay ahead of the global game, and support economies around the world with British backed projects.”
AustralianSuper chief executive Paul Schroder said:
“We invest heavily in Australia, but our size requires an increasingly international focus. We are ramping up our investment capabilities in the UK as it is one of the world’s leading gateways to both talent and global markets, which are key for driving future returns for members.
“By 2035 we expect to manage approximately £250 billion of investments from our London hub, which will represent a significant portion of our global portfolio. We have great confidence in the fundamentals of the UK economy and the country’s commitment to global growth.
“This underpins our confidence in the investments we have already made in the UK such as the Canada Water urban regeneration project, London’s King’s Cross Estate, Peel Ports Group and Vantage Data Centers. We also see great potential for new investment opportunities in the energy transition, digital infrastructure, mixed-use estates, transport and logistics.”
Aware Super chief executive Deanne Stewart:
“Aware Super has strong confidence in the UK economy and markets and is pleased to announce a ground-breaking new commercial partnership that will invest up to an initial £1 billion, an exciting milestone that will coincide with the first anniversary of establishing our London Office.”
Meanwhile, UK firms obconnect and Raidiam have been making waves in the New Zealand banking sector, rolling out the British Confirmation of Payee (CoP) system to revolutionise banking in the country, in partnership with the NZ Banking Association.
No other companies are currently able to offer the same service, with the partnership combining specialist expertise of the two British companies to serve as a fulcrum for data sharing and facilitating fraud prevention across any territory.
The deal has allowed the companies to expand their UK operations to more than 250 people.
The win for the British companies come after mobile banking app Revolut broke into the New Zealand market last year. The firm is preparing to expand their operations in the country from 4 FTEs focused on New Zealand investments, to 10 over the next 12 months.
The British business wins coincide with the UK securing CPTPP ratification from Australia in the next step towards accession of the trading bloc – the first non-founding country to do so.
The boost in Australian investment also comes after a string of Australian announcements as part of the government’s International Investment Summit, which attracted more £63 billion of investment into the UK economy and created 38,000 jobs.
They included Australian firms Macquarie supporting investment of £1.3 billion into new green infrastructure and IFM investing more than £1.1 billion through Manchester Airports Group into London Stansted Airport to expand its existing terminal by around a third. The investment will secure new air routes to key business and leisure destinations, boost local supply chains and create 5,000 jobs.
The Prime Minister’s visit to Samoa for the Commonwealth Heads of Government Meeting is the first by a sitting Prime Minister to a Pacific Island. During the summit, the Prime Minister will make the case to build resilient economies across the Commonwealth to unlock growth and investment.
Source: United Kingdom – Prime Minister’s Office 10 Downing Street
The Prime Minister met the President of Guyana Mohamed Irfaan Ali at the Commonwealth Heads of Government Meeting.
The Prime Minister met the President of Guyana Mohamed Irfaan Ali at the Commonwealth Heads of Government Meeting.
They reflected on the long-shared history between the two countries and their commitment to a growing economic and trade relationship.
The President updated on Guyana’s new Global Biodiversity Alliance, and they discussed the work the two countries have undertaken on the Forest and Climate Leaders Partnership.
They agreed to continue to look for opportunities to deepen ties on trade, climate finance and biodiversity.
median consumer inflation perceptions over the previous 12 months and consumer inflation expectations for the next 12 months and for three years ahead all declined;
expectations for nominal income growth over the next 12 months increased, while expectations for spending growth over the next 12 months remained unchanged;
expectations for economic growth over the next 12 months were unchanged, while the expected unemployment rate in 12 months’ time increased;
expectations for growth in the price of homes over the next 12 months increased slightly, while expectations for mortgage interest rates 12 months ahead declined slightly.
Inflation
The median rate of perceived inflation over the previous 12 months declined further in September to 3.4%, from 3.9% in August. Perceptions of past inflation have thus declined by 5.0 percentage points since their peak of 8.4% in September 2023. Median expectations for inflation over the next 12 months declined to 2.4%, from 2.7% previously, and stood at their lowest level since September 2021. Median expectations for inflation three years ahead also declined in September, by 0.2 percentage points to 2.1%, their lowest level since February 2022 (when Russia invaded Ukraine). Inflation expectations at the one-year and three-year horizons remained below the perceived past inflation rate. Uncertainty about inflation expectations over the next 12 months remained unchanged, also at its lowest level since February 2022. While the broad evolution of inflation perceptions and expectations remained relatively closely aligned across income groups, expectations for lower income quintiles were slightly above those for higher income quintiles. Younger respondents (aged 18-34) continued to report lower inflation perceptions and expectations than older respondents (those aged 35-54 and 55-70), albeit to a lesser degree than previously. (Inflation results)
Income and consumption
Consumer nominal income growth expectations increased to 1.3%, from 1.2% in August. The increase in income expectations continued to be driven by the lowest two income quintiles. Perceptions of nominal spending growth over the previous 12 months remained unchanged at 5.2%. Similarly, expectations for nominal spending growth over the next 12 months remained stable at 3.2%, their lowest level since February 2022. For the first time since March 2023, there was no drop in either perceptions or expectations of nominal spending, while inflation perceptions and expectations both continued on their downward trajectory, which might indicate a positive turning point for real spending. (Income and consumption results)
Economic growth and labour market
Economic growth expectations for the next 12 months were stable in September, standing at -0.9%. Meanwhile, expectations for the unemployment rate 12 months ahead increased to 10.6%, from 10.4% in August. Consumers continued to expect the future unemployment rate to be only slightly higher than the perceived current unemployment rate (10.3%), implying a broadly stable labour market. The lowest income quintile continued to report the highest expected and perceived unemployment rate, as well as the lowest economic growth expectations. (Economic growth and labour market results)
Housing and credit access
Consumers expected the price of their home to increase by 2.8% over the next 12 months, which was slightly higher than in August (2.7%). Households in the lowest income quintile continued to expect higher growth in house prices than those in the highest income quintile (3.4% and 2.5% respectively). Expectations for mortgage interest rates 12 months ahead declined slightly to 4.7%, 0.8 percentage points lower than their peak in November 2023 and the lowest level since September 2022. As in previous months, the lowest income households expected the highest mortgage interest rates 12 months ahead (5.3%), while the highest-income households expected the lowest rates (4.2%). The net percentage of households reporting a tightening (relative to those reporting an easing) in access to credit over the previous 12 months declined, as did the net percentage of those expecting a tightening over the next 12 months. (Housing and credit access results)
The release of the CES results for October is scheduled for 29 November 2024.
For media queries, please contact: Eszter Miltényi-Torstensson, Tel: +49 171 769 5305
The CES is a monthly online survey of, currently, around 19,000 adult consumers (i.e. aged 18 or over) from 11 euro area countries: Belgium, Germany, Ireland, Greece, Spain, France, Italy, the Netherlands, Austria, Portugal and Finland. The main aggregate results of the CES are published on the ECB’s website every month. The results are used for policy analysis and complement other data sources used by the ECB.
Source: United Kingdom – Executive Government & Departments
The Prime Minister met Samoan Prime Minister Afioga Fiamē Naomi Mataʻafa this morning, as part of the Commonwealth Heads of Government Meeting.
The Prime Minister met Prime Minister Afioga Fiamē Naomi Mataʻafa this morning, as part of the Commonwealth Heads of Government Meeting.
The Prime Minister thanked Prime Minister Fiamē for hosting such a successful summit and for the generosity and kindness of the Samoan people.
The summit had offered a chance for leaders to reflect on the importance of the Commonwealth family and how the group could go further to support all members in the face of shared challenges, such as climate change, he added.
The leaders also discussed the importance of leveraging international finance to support Small Island Developing States, especially in the Pacific.
Source: United Kingdom – Executive Government & Departments
The Prime Minister met Australian Prime Minister Anthony Albanese at the Commonwealth Heads of Government Meeting this week.
The Prime Minister met Australian Prime Minister Anthony Albanese at the Commonwealth Heads of Government Meeting this week.
The Prime Minister began by expressing commitment to visit Australia in the near future.
The leaders reflected on the future of the Commonwealth, including the opportunity to drive trade and growth, and build brighter futures for the next generation.
Turning to the impact of climate change in the region, and the importance of ensuring resilience among Commonwealth members, including in the Pacific, the Prime Minister said he was pleased that Australia had bid to host COP31.
The leaders discussed the opportunity of transitioning to clean energy and ensuring energy security throughout the transition.
The leaders also discussed global stability, including the situation in the Middle East and the importance of regional security in the Pacific.
The Prime Minister looked forward to speaking again soon.
Source: United Kingdom – Executive Government & Departments
The Prime Minister spoke to the crew of HMS Tamar this evening to thank them for their service and praise their role in securing Royal New Zealand Navy ship HMNZS Manawanui earlier this month.
The Prime Minister spoke to the crew of HMS Tamar this evening to thank them for their service and praise their role in securing Royal New Zealand Navy ship HMNZS Manawanui earlier this month.
The Prime Minister heard firsthand from members of the ship about their 650-mile high-speed transit from Fiji following the mayday call on October 5. They remained at the scene for almost two weeks providing recovery and pollution control efforts.
This week, the ship has been bolstering security to Samoa for the Commonwealth Heads of Government Meeting, patrolling off the coast of the island while the summit is taking place.
The Prime Minister paid tribute to the crew’s dedication and commitment so far away from home.
He asked the ship’s company to pass on his sincere thanks to their families for their sacrifice at home too.
Source: United Kingdom – Executive Government & Departments
A further billion pounds of investment will be injected into the British economy as the Prime Minister continues his drive to attract foreign business back to the UK.
A further billion pounds of investment will be injected into the British economy as the Prime Minister continues his drive to attract foreign business back to the UK.
Prime Minister Keir Starmer continues drive on growth during historic first visit to the Pacific
This comes as Australian superannuation fund Aware Super forms a strategic partnership with a British property firm to invest up to £1 billion in UK property
Australian boost builds on the major success of International Investment Summit last week, which included a further £2.4 billion of investment from Down Under
The boost comes as UK firms break into the New Zealand banking sector, growing jobs in the UK, and expanding their global operations.
Australia’s biggest pension fund, AustralianSuper is also preparing to bolster its international investment team in London, in a major vote of confidence for the UK as a global asset management centre.
The Fund expects to manage £250 billion from its London office by 2035, an increase of more than 10 times over the next decade, from its current management of around £15 billion from its UK base.
The Prime Minister met the CEO of the Australian firm, Paul Schroder, on arrival in Samoa yesterday to discuss the move.
Meanwhile, Aware Super, one of Australia’s top performing and largest profit-for-member superannuation funds, has formed a strategic partnership with Delancey Real Estate to invest up to an initial £1 billion in UK property, further bolstering UK – Australia economic ties.
Its initial focus will be on Central London office sites in prime locations, upgrading and renovating properties to ensure they meet environmental standards and deliver on the partnership’s commitment to reducing carbon emissions in the property market.
Prime Minister Keir Starmer said:
These investments are a major vote of confidence in the UK, and in this Government.
I am determined to ensure that UK is the best place in the world to invest and do business, so we improve the lives of hardworking people.
By attracting strong, sustained investment, we will also build the expertise we need to drive innovation, stay ahead of the global game, and support economies around the world with British backed projects.
AustralianSuper chief executive Paul Schroder said:
We invest heavily in Australia, but our size requires an increasingly international focus. We are ramping up our investment capabilities in the UK as it is one of the world’s leading gateways to both talent and global markets, which are key for driving future returns for members.
By 2035 we expect to manage approximately £250 billion of investments from our London hub, which will represent a significant portion of our global portfolio. We have great confidence in the fundamentals of the UK economy and the country’s commitment to global growth.
This underpins our confidence in the investments we have already made in the UK such as the Canada Water urban regeneration project, London’s King’s Cross Estate, Peel Ports Group and Vantage Data Centers. We also see great potential for new investment opportunities in the energy transition, digital infrastructure, mixed-use estates, transport and logistics.
Aware Super chief executive Deanne Stewart:
Aware Super has strong confidence in the UK economy and markets and is pleased to announce a ground-breaking new commercial partnership that will invest up to an initial £1 billion, an exciting milestone that will coincide with the first anniversary of establishing our London Office.
Meanwhile, UK firms obconnect and Raidiam have been making waves in the New Zealand banking sector, rolling out the British Confirmation of Payee (CoP) system to revolutionise banking in the country, in partnership with the NZ Banking Association.
No other companies are currently able to offer the same service, with the partnership combining specialist expertise of the two British companies to serve as a fulcrum for data sharing and facilitating fraud prevention across any territory.
The deal has allowed the companies to expand their UK operations to more than 250 people.
The win for the British companies come after mobile banking app Revolut broke into the New Zealand market last year. The firm is preparing to expand their operations in the country from 4 FTEs focused on New Zealand investments, to 10 over the next 12 months.
The British business wins coincide with the UK securing CPTPP ratification from Australia in the next step towards accession of the trading bloc – the first non-founding country to do so.
The boost in Australian investment also comes after a string of Australian announcements as part of the government’s International Investment Summit, which attracted more £63 billion of investment into the UK economy and created 38,000 jobs.
They included Australian firms Macquarie supporting investment of £1.3 billion into new green infrastructure and IFM investing more than £1.1 billion through Manchester Airports Group into London Stansted Airport to expand its existing terminal by around a third. The investment will secure new air routes to key business and leisure destinations, boost local supply chains and create 5,000 jobs.
The Prime Minister’s visit to Samoa for the Commonwealth Heads of Government Meeting is the first by a sitting Prime Minister to a Pacific Island. During the summit, the Prime Minister will make the case to build resilient economies across the Commonwealth to unlock growth and investment.
Source: United Kingdom – Prime Minister’s Office 10 Downing Street
The Prime Minister met Samoan Prime Minister Afioga Fiamē Naomi Mataʻafa this morning, as part of the Commonwealth Heads of Government Meeting.
The Prime Minister met Prime Minister Afioga Fiamē Naomi Mataʻafa this morning, as part of the Commonwealth Heads of Government Meeting.
The Prime Minister thanked Prime Minister Fiamē for hosting such a successful summit and for the generosity and kindness of the Samoan people.
The summit had offered a chance for leaders to reflect on the importance of the Commonwealth family and how the group could go further to support all members in the face of shared challenges, such as climate change, he added.
The leaders also discussed the importance of leveraging international finance to support Small Island Developing States, especially in the Pacific.
Source: United Kingdom – Prime Minister’s Office 10 Downing Street
The Prime Minister spoke to the crew of HMS Tamar this evening to thank them for their service and praise their role in securing Royal New Zealand Navy ship HMNZS Manawanui earlier this month.
The Prime Minister spoke to the crew of HMS Tamar this evening to thank them for their service and praise their role in securing Royal New Zealand Navy ship HMNZS Manawanui earlier this month.
The Prime Minister heard firsthand from members of the ship about their 650-mile high-speed transit from Fiji following the mayday call on October 5. They remained at the scene for almost two weeks providing recovery and pollution control efforts.
This week, the ship has been bolstering security to Samoa for the Commonwealth Heads of Government Meeting, patrolling off the coast of the island while the summit is taking place.
The Prime Minister paid tribute to the crew’s dedication and commitment so far away from home.
He asked the ship’s company to pass on his sincere thanks to their families for their sacrifice at home too.
Source: United Kingdom – Prime Minister’s Office 10 Downing Street
The Prime Minister met Australian Prime Minister Anthony Albanese at the Commonwealth Heads of Government Meeting this week.
The Prime Minister met Australian Prime Minister Anthony Albanese at the Commonwealth Heads of Government Meeting this week.
The Prime Minister began by expressing commitment to visit Australia in the near future.
The leaders reflected on the future of the Commonwealth, including the opportunity to drive trade and growth, and build brighter futures for the next generation.
Turning to the impact of climate change in the region, and the importance of ensuring resilience among Commonwealth members, including in the Pacific, the Prime Minister said he was pleased that Australia had bid to host COP31.
The leaders discussed the opportunity of transitioning to clean energy and ensuring energy security throughout the transition.
The leaders also discussed global stability, including the situation in the Middle East and the importance of regional security in the Pacific.
The Prime Minister looked forward to speaking again soon.
The Government recently announced measures to ensure that the country achieves its ambition of becoming Smokefree by 2030, including the provision of a million free ‘Swap to Stop’ vaping kits which, combined with behavioural support, are designed to help them quit smoking.
The City of Wolverhampton Council has made these available at a range of community venues, including the city’s 8 Family Hubs and Central and Warstones libraries.
The service is being delivered by trained members of staff, who are offering free vape starter kits alongside support and weekly ‘check in’ sessions delivered from the convenience of local community venues to help people on their quitting journey over a period of 12 weeks.
Scores of would be quitters have already come forward to get help – and others are invited to sign up for free at Swap to Stop.
John Denley, Wolverhampton’s Director of Public Health, said: “Stopping smoking is the best thing you can do for your health and the health of those around you.
“Smoking is still the single largest preventable cause of death in England, accounting for around for 64,000 deaths annually. Almost every minute of every day someone is admitted to hospital with a smoking related disease – but, when you stop smoking, there are almost immediate improvements to your health.
“And it’s not just your body which will benefit, your purse or wallet will too. On average smokers spend £38.59 a week on tobacco – and that means you could have around £2,000 more to spend a year by quitting, and even more if you are a really heavy smoker.
“Nicotine vaping is substantially less harmful than smoking and is also one of the most effective tools for quitting, so we are delighted to deliver this Swap to Stop support in the community in Wolverhampton. If you want to quit, please sign up today.”
Meanwhile, support to quit is also available through Live Well Wolverhampton, a new healthy lifestyles service offering people information, advice, guidance, self help tools and lifestyle interventions to enable them to make and maintain positive lifestyle choices. Please visit Live Well Wolverhampton or call or text ‘QUIT’ to 07378 768046 and an advisor will contact you.
For more help and support to stop smoking, please visit Quit Smoking.
Island residents have one week left to take part in a major consultation on proposals to tackle the high number of surplus places in Isle of Wight primary schools.
Hundreds of people have already shared their views on Isle of Wight Council plans to address almost 1,900 empty classroom seats by attending one of six in-person public meetings or completing the consultation survey.
The council is seeking the widest possible range of views and is urging everyone to have their say before the deadline for comments on 1 November.
The authority would welcome any viable alternative proposals that would reduce the level of surplus places while improving the quality of education.
Amid a rapidly decreasing pupil population due to falling birth rates, the council must reduce school places and is consulting on the potential closure of Arreton CE, Brading CE, Cowes, Godshill, Oakfield CE and Wroxall primary schools, and a reduction in the Published Admissions Number (PAN) at The Bay CE School (from 60 to 45) and Greenmount (from 60 to 45).
Alongside this the council is proposing to expand provision for children and young people with special educational needs and disabilities (SEND) to meet a growing need across the Island.
Since the Island-wide consultation launched last month, a peer review by the Local Government Association (LGA) has described the council’s proposals as a pragmatic and necessary response to the ongoing educational financial challenges on the Island.
Following the consultation, a further report will be presented to Cabinet in December detailing the responses and making recommendations about the next steps.
Councillor Jonathan Bacon, Cabinet member for children’s services and education, said: “I can’t emphasise strongly enough how important it is for everyone — whether they are linked to the named schools or not — to join this Island-wide conversation to help shape the future of education on the Isle of Wight.
“This process is part of our wider draft Education Strategy which is about raising educational standards on the Island. We are at the bottom of the national tables for educational standards, we have to do something.
“If we are going to do the best for our young people we have to take drastic action to turn things around. This is about taking the long term view for the whole Island in order to achieve the best for our young people, their upbringing and their futures and build a more thriving Island as a result.
“While our plans would see a reduction in the number of school places to respond to the falling birth rate, they would enable our remaining schools to be in the best possible position to improve outcomes for our children and young people by giving our school system and those within it the security that is desperately needed.
“Indeed, the recent LGA Peer Review supports our decision to consider school closures as a way to address the issues facing the Island. It also commends our plans to expand SEND provision stating that this element of the plan is both timely and necessary.”
How can I comment?
There are several ways people can take part in the consultation:
If you are unable to access the consultation form, please e-mail your views to strategic.planning@iow.gov.uk or write to: Strategic Development, Floor 3, County Hall, Newport, IOW, PO30 1UD.
Paper copies of the survey are available to collect from County Hall, High Street, Newport, Isle of Wight PO30 1UD, local libraries or can be posted out.
Why is this happening?
Because schools are funded per pupil, the oversupply of places in primary schools has had a negative impact on the standard of education children receive on the Island, preventing them from having the best opportunity for the highest quality teaching and learning within well-equipped schools.
While almost 1,900 classroom seats go unfilled in mainstream schools, there is conversely a growing demand for SEND provision across the Island with hundreds of new specialist places desperately needed.
The number of births on the Island has now reached its lowest level since 1941. This is having a significant impact on the Island where, by 2027, just 876 children are expected to start reception — a considerable drop from 1,404 in 2018.
As of October 2023 there were 1,898 unfilled school places across the Island. By September 2027, this number is forecast to rise to 3,056.
For every empty seat, schools receive £4,500 less in funding affecting resources, opportunities and the quality of education children receive. The ongoing trend indicates that by March 2027, 22 primary schools may face budget deficits, potentially amounting to a total deficit of more than £7.4 million.
Surplus places mean schools struggle to maintain a broad and high-quality curriculum. Falling rolls also make planning and staffing decisions difficult, with schools potentially having to make year on year redundancies or having to restructure.
Aberdeen City Council has today launched the second and final phase of its Budget 2025/26 consultation.
The second phase provides additional proposed savings options and invites people to have their say on these, and comment on how changes might affect them if taken forward.
Councillor Alex McLellan, Convener of the Finance and Resources Committee, said: “The next phase of the consultation continues to offer the public an opportunity to express their views on proposed savings being put forward by council officers ahead of the Council setting the 2025/26 budget.
“It is important that people participate as this will give us a greater understanding of what services are important to individuals and their families, and the potential impact any change or removal of a service may have on them.”
Anyone who has access to the internet at home or on their mobile phone can access the consultation here.
For anyone who does not have internet access at home, digital assistance is available at local libraries including the Central Library, and at the Customer Service Centre, Marischal College during opening hours.
A series of virtual and in-person events have been arranged to help encourage public engagement. During these events, the public will have the opportunity to discuss any of the proposed options with council staff. There will also be targeted engagement with community groups and other stakeholders.
Monday 4 November – 5.30pm-7pm – virtual Microsoft Teams Advanced booking is required. To book, please click here
Monday 11 November – 11am-12.30pm – in-person
Town and County Hall, Town House (entry via Union Street)
Advanced booking is required. To book, please click here
Tuesday 12 November – 5.30pm-7pm – virtual Microsoft Teams Advanced booking is required. To book, please click here
Wednesday 6 November – 6pm-7.30pm – in-person Customer Service Centre, Marischal College, Broad Street Advance booking is required. To book, please click here
The Council will host a series of pop-up events to offer digital assistance to citizens who would like support to complete the consultation online. These sessions will be held within Aberdeen City Vaccination Centre located inside the Bon Accord Shopping Centre, George Street.
Advanced booking is NOT required to attend the below pop-up sessions.
Thursday 31 October – 2pm-4pm
Thursday 7 November – 2pm-4pm
Thursday 14 November – 2pm-4pm
For anyone who needs information provided in a different format, such as accessible PDF, large print, easy to read, audio recording or braille, or have any accessibility requirements, please email equality_and_diversity@aberdeencity.gov.uk
The consultation closes on Sunday, November 17 and the results will be presented to Full Council on Wednesday, December 11.
Source: United Kingdom – Prime Minister’s Office 10 Downing Street
A further billion pounds of investment will be injected into the British economy as the Prime Minister continues his drive to attract foreign business back to the UK.
A further billion pounds of investment will be injected into the British economy as the Prime Minister continues his drive to attract foreign business back to the UK.
Prime Minister Keir Starmer continues drive on growth during historic first visit to the Pacific
This comes as Australian superannuation fund Aware Super forms a strategic partnership with a British property firm to invest up to £1 billion in UK property
Australian boost builds on the major success of International Investment Summit last week, which included a further £2.4 billion of investment from Down Under
The boost comes as UK firms break into the New Zealand banking sector, growing jobs in the UK, and expanding their global operations.
Australia’s biggest pension fund, AustralianSuper is also preparing to bolster its international investment team in London, in a major vote of confidence for the UK as a global asset management centre.
The Fund expects to manage £250 billion from its London office by 2035, an increase of more than 10 times over the next decade, from its current management of around £15 billion from its UK base.
The Prime Minister met the CEO of the Australian firm, Paul Schroder, on arrival in Samoa yesterday to discuss the move.
Meanwhile, Aware Super, one of Australia’s top performing and largest profit-for-member superannuation funds, has formed a strategic partnership with Delancey Real Estate to invest up to an initial £1 billion in UK property, further bolstering UK – Australia economic ties.
Its initial focus will be on Central London office sites in prime locations, upgrading and renovating properties to ensure they meet environmental standards and deliver on the partnership’s commitment to reducing carbon emissions in the property market.
Prime Minister Keir Starmer said:
These investments are a major vote of confidence in the UK, and in this Government.
I am determined to ensure that UK is the best place in the world to invest and do business, so we improve the lives of hardworking people.
By attracting strong, sustained investment, we will also build the expertise we need to drive innovation, stay ahead of the global game, and support economies around the world with British backed projects.
AustralianSuper chief executive Paul Schroder said:
We invest heavily in Australia, but our size requires an increasingly international focus. We are ramping up our investment capabilities in the UK as it is one of the world’s leading gateways to both talent and global markets, which are key for driving future returns for members.
By 2035 we expect to manage approximately £250 billion of investments from our London hub, which will represent a significant portion of our global portfolio. We have great confidence in the fundamentals of the UK economy and the country’s commitment to global growth.
This underpins our confidence in the investments we have already made in the UK such as the Canada Water urban regeneration project, London’s King’s Cross Estate, Peel Ports Group and Vantage Data Centers. We also see great potential for new investment opportunities in the energy transition, digital infrastructure, mixed-use estates, transport and logistics.
Aware Super chief executive Deanne Stewart:
Aware Super has strong confidence in the UK economy and markets and is pleased to announce a ground-breaking new commercial partnership that will invest up to an initial £1 billion, an exciting milestone that will coincide with the first anniversary of establishing our London Office.
Meanwhile, UK firms obconnect and Raidiam have been making waves in the New Zealand banking sector, rolling out the British Confirmation of Payee (CoP) system to revolutionise banking in the country, in partnership with the NZ Banking Association.
No other companies are currently able to offer the same service, with the partnership combining specialist expertise of the two British companies to serve as a fulcrum for data sharing and facilitating fraud prevention across any territory.
The deal has allowed the companies to expand their UK operations to more than 250 people.
The win for the British companies come after mobile banking app Revolut broke into the New Zealand market last year. The firm is preparing to expand their operations in the country from 4 FTEs focused on New Zealand investments, to 10 over the next 12 months.
The British business wins coincide with the UK securing CPTPP ratification from Australia in the next step towards accession of the trading bloc – the first non-founding country to do so.
The boost in Australian investment also comes after a string of Australian announcements as part of the government’s International Investment Summit, which attracted more £63 billion of investment into the UK economy and created 38,000 jobs.
They included Australian firms Macquarie supporting investment of £1.3 billion into new green infrastructure and IFM investing more than £1.1 billion through Manchester Airports Group into London Stansted Airport to expand its existing terminal by around a third. The investment will secure new air routes to key business and leisure destinations, boost local supply chains and create 5,000 jobs.
The Prime Minister’s visit to Samoa for the Commonwealth Heads of Government Meeting is the first by a sitting Prime Minister to a Pacific Island. During the summit, the Prime Minister will make the case to build resilient economies across the Commonwealth to unlock growth and investment.
Source: United Kingdom – Executive Government & Departments
John Tuckett, Immigration Services Commissioner, has been reappointed for a second 5 year term.
The Immigration Services Commissioner, John Tuckett, has been reappointed for a further five years.
The Commissioner oversees the immigration advice sector, protecting advice seekers through regulation, enforcement and promoting best practice. John Tuckett, who took up the post on 8 July 2019, will remain in the position until 7 July 2029.
Please see here a Home Office announcement on this public appointment.
Source: Hong Kong Government special administrative region
The Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department announced today (October 25) that in view of a notification from the World Organisation for Animal Health (WOAH) about an outbreak of highly pathogenic H5N1 avian influenza in the Ostrów Wielkopolski District of the Wielkopolskie Region in Poland, the CFS has instructed the trade to suspend the import of poultry meat and products (including poultry eggs) from the area with immediate effect to protect public health in Hong Kong.
A CFS spokesman said that according to the Census and Statistics Department, Hong Kong imported about 1 620 tonnes of frozen poultry meat from Poland in the first six months of this year.
“The CFS has contacted the Polish authority over the issue and will closely monitor information issued by the WOAH and the relevant authorities on the avian influenza outbreak. Appropriate action will be taken in response to the development of the situation,” the spokesman said.
Source: United Kingdom UK House of Lords (video statements)
Ukraine is at the heart of this Lords debate on Friday 25 October. Lord Coaker, Minister of State at the Ministry of Defence, will put forward the debate.
Find out more and see the full list of members speaking https://www.parliament.uk/business/news/2024/october/ukraine-at-the-heart-of-lords-debate/
Catch-up on House of Lords business:
Watch live events: https://parliamentlive.tv/Lords
Read the latest news: https://www.parliament.uk/lords/
Stay up to date with the House of Lords on social media:
Source: People’s Republic of China – State Council News
CHONGQING, Oct. 25 — An ASEAN (Association of Southeast Asian Nations) Express train set off for Poland’s Malaszewicze via southwest China’s Chongqing Municipality on Friday morning, marking the opening of a fast-track route for Asia-Europe trade.
The train, loaded with automotive electronic components and other goods, left Chongqing’s Tuanjiecun Station at about 5:00 a.m. and is expected to reach its destination in around two weeks.
It originally departed from Hanoi, Vietnam, on October 15, before arriving in Chongqing for reconfiguration.
The first ASEAN Express to depart from Chongqing symbolizes the seamless connection between the New International Land-Sea Trade Corridor and the China-Europe freight train service — two vital international trade routes.
The total journey, which starts in Vietnam, is expected to take approximately 25 days, reducing the transit time by five to 10 days compared to previous Asia-Europe cross-border transportation routes.
The express is jointly operated by Yuxinou (Chongqing) Supply Chain Management Co., Ltd. and New Land-Sea Corridor Operation Co., Ltd. This collaboration facilitates a streamlined process, enabling faster transit times and improved services for quick customs clearance, according to Liu Taiping, general manager of Yuxinou (Chongqing) Supply Chain Management Co., Ltd.
Previously, freight transportation between ASEAN and Europe had primarily relied on maritime shipping.
UK Government urged to remove limit on funds raised for good causes.
Social Justice Secretary Shirley-Anne Somerville has written to Secretary of State for Culture, Media and Sport Lisa Nandy to urge the UK Government to remove the cap on charity lottery sales.
Charity lotteries raise money for local, national and international good causes through their ticket sales. However, the current sales cap means that charities can raise no more than £50m for these causes per year.
Ms Somerville said:
“As the difficult economic climate has made it harder for charities to raise funds, while also increasing the need of the communities they serve, the cap on charity lottery sales is only serving to restrict the positive impact they could have in raising money for good causes.
“The UK Government should undertake a review of the cap and consider the huge difference that lifting it could bring to lives and communities across the country.”
People’s Postcode Lottery Managing Director, Clara Govier, said:
“The charity lottery sales limits are causing increasing difficulties for charity fundraising at a time when charities need these vital funds to respond to the impact of the cost-of-living crisis.
“Charity lotteries exist to benefit society, yet have sales limits in place which do not apply to any other type of gambling product, and ultimately make raising funds for charity more difficult.
“Removing them would cost the Treasury nothing but benefit many charities. We welcome the Scottish Government’s call for these outdated sales limits to be removed, and urge the UK Government to take action.”
We want everyone to be able to safely enjoy Halloween and Bonfire Night in Westminster this year which is why we have re-launched our Autumn Nights campaign.
Halloween and Bonfire night, and the days running up to them, are traditionally some of the busiest nights of the year for our anti-social behaviour case officers, the Metropolitan Police, London Fire Brigade and other agencies.
This is why we have launched our Autumn Nights campaign to make sure everyone has the information they need to enjoy it safely.
We are working with our community safety partners, the Metropolitan Police and London Fire Brigade, to urge communities in Westminster to do their bit this Autumn.
To keep our city safe, we ask you to take extra care this autumn and take note of the following advice:
fireworks must not be stored or used in communal areas or in your home. This is a condition for all Westminster City Council tenants and may be a condition of other tenancy or lease agreements
fireworks must not be set off within 15 metres of a road
please remove any personal items from communal areas and balconies which could be used to start fires by others
if you are a Westminster City Council tenant, please do not have bonfires anywhere, either in your home or on the estate
it is illegal to let fireworks off in the street or a public place
selling fireworks to anyone under the age of 18 years is illegal. Anyone aged under 18 may not possess a firework in a public place
This Autumn Nights season, help us to keep your neighbourhood safe by reporting any incidents.
Stoke-on-Trent City Council is inviting residents, businesses and organisations across the city and beyond to ‘save the date’ for the Stoke-on-Trent celebration weekend.
Stoke-on-Trent City Council is inviting residents, businesses and organisations across the city and beyond to ‘save the date’ for the Stoke-on-Trent celebration weekend. On Thursday 5 June 2025, the city will burst into celebration following 100 years of city status. The day will be set in the calendar as the very first Stoke-on-Trent Day.
When King George V declared Stoke-on-Trent a city on 5 June 1925, it was a move that made Stoke-on-Trent a global name. Honouring the rich history, vibrant culture and unique identity, for three days in June the city council is calling on everyone with links to the city, at home and away, to celebrate the city built on clay and coal.
Stoke-on-Trent Day will be a yearly celebration on 5 June that celebrates the history, culture, the built and natural environment and the communities that make the city. It’s also about looking forward. The city is incredibly proud of its heritage – but it’s not all in the past:
Stoke-on-Trent is now a World Craft City
Over 85 parks and green spaces, which are home to a variety of animals
A vibrant arts scene with nine Not-for-Profit organisations working in the city
Pottery manufacturers have a strong presence
Brilliant museums
There are lots of local artisans based in the city
Traditional markets, with a host of traders
Local festivals like the British Ceramics Biennial and Stoke on Clay celebrate local arts and ceramics
Active heritage restoration
Exciting food and drink scene, including Appetite, Feasted and Titanic
Promising opportunities for business development
Home to over 500,000 trees
Everyone with links to Stoke-on-Trent is invited to the party. Over the Celebration weekend – Saturday 7 June and Sunday 8 June – Stoke-on-Trent City Council will be hosting events for all to enjoy, express togetherness and show pride in their city.
For 2025, the Council is asking everyone to ‘save the date’ of Saturday 7 June and to get involved in a mass-participation carnival feel celebration – from resident associations, sports clubs, schools, colleges and the university to businesses, charities and youth groups and performing arts groups – you are all on the guest list!
Leader of the city council, councillor Jane Ashworth, said: “Whether you are born and bred in one of the six towns, moved away, or recently made Stoke-on-Trent your home, you are a ‘Stokie’ to us. We want everyone to celebrate this small city, with a big heart. “From street parties to cleaning up the city, I am calling on every resident to fly the flag of this great city.”
Lisa Capper MBE, CEO & Principal at Stoke on Trent College said: “Stoke on Trent College is thrilled to be part of the centenary celebrations for Stoke-on-Trent, leading up to next June. We are delighted to be supporting the campaign from Stoke-on-Trent City Council, which captures the togetherness which makes this city so special. As part of SOT100, we are looking forward to having our 100 Years of Skills in Hanley Park next May as well as other celebrations which will enable learners to join in the celebrations of the city’s heritage.”
Do you have an event planned for 2025? Or are you inspired to get your friends, family and neighbours together and get creative? We want to know!
Visit: www.sot100.org.uk to find out what’s happening and when, and how you can plan your own events.
Source: United Kingdom – Executive Government & Departments 3
A new insurance fraud charter was announced at the latest Joint Fraud Taskforce meeting.
Insurance companies have united to step up efforts to crack down on fraudsters seeking to manipulate the UK insurance market with bogus claims and duping innocent people into buying fake insurance policies.
In 2023 alone, 84,400 fraudulent claims worth £1.1 billion were detected by the ABI, a 16% increase in the number of detected claims compared to the previous year.
Crash for cash scams are becoming a significant issue. This sees fraudsters recklessly orchestrate accidents to put forward an insurance claim, putting innocent lives at risk. Fraudsters may also make claims for accidents that never happened.
The Insurance Fraud Bureau is currently investigating over 6,000 suspected fraudulent motor insurance claims, which could be linked to crash for cash scams. In total, this is estimated to be worth over £70 million in potential fraud.
The new voluntary charter is designed to identify loopholes in the insurance market, enhance collaboration and criminal justice outcomes, better understand the scale of the problem and improve victim support.
Pledges include:
the National Crime Agency’s National Assessment Centre carrying out a review into the role of professional enablers in the insurance sector – where someone provides false evidence to support a bogus insurance claim
identifying policies being exploited by “illegal insurance intermediaries” – someone pretending to be a broker or selling completely fake insurance to customers.
strengthening data security measures to stop insurance fraudsters using customer details to target people
reviewing the tactics and websites being used by fraudsters to promote bogus insurance offers – this includes looking at the vulnerable victims’ notifications process, which has proven successful in the banking sector, to better identify and support victims of insurance fraud
Lord David Hanson, Minister of State at the Home Office with Responsibility for Fraud said:
Fraud is an appalling crime, and we are determined to crackdown on these callous criminals.
Not only do honest customers face higher insurance premiums but these fraudsters do not care if people are harmed in the pursuit of profit.
This charter is an important step, and we will continue to work with industry and law enforcement to better protect the public from fraud.”
Hannah Gurga, ABI Director General, said:
Insurance fraud remains an ongoing threat that corrodes trust in society and undermines our economic prosperity.
Tackling insurance fraud is an industry priority, and requires a collaborative approach between private and public sector.
We’re delighted to have agreed the Insurance Sector Fraud Charter with the Home Office, boosting the industry’s resilience and ability to fight fraud.
We look forward to continuing to work with the Home Office and other industry signatories to implement the charter commitments.
Temporary Assistant Commissioner Nik Adams, from the City of London Police, said:
As the national lead force for fraud, we welcome the launch of this charter. Insurance fraud is not a victimless crime.
It increases the cost of premiums for honest customers, while fraudsters who sell fake car insurance or deliberately cause road traffic collisions to claim compensation put motorists at risk.
The Insurance Fraud Enforcement Department, a partnership between law enforcement and industry, is at the forefront of tackling this crime.
This charter is another step forward in establishing a whole system approach to combatting fraud, as it is a commitment from organisations across the insurance sector to join law enforcement in tackling key threats, enhancing criminal justice outcomes and improving victim support.
The charter covers the vast majority of the insurance sector ranging from general insurance firms to underwriters and has the backing of the British Insurance Brokers’ Association, London & International Insurance Brokers’ Association, Lloyd’s of London, Lloyd’s Market Association and the International Underwriting Association, alongside ABI.
Nobody is immune from fraud. According to the latest ONS Crime Survey Statistics, fraud is most common crime in England and Wales and 1 in 16 adults experienced fraud in the twelve months to the end of June 2024.
This is the first Joint Fraud Taskforce meeting of 2024.
The taskforce meetings bring together government departments, law enforcement, regulators, private sector and victim groups to strengthen the response to fighting fraud and better protect the public.
