PRESS DIGEST- Financial Times - Nov. 5

BY Reuters | ECONOMIC | 11/04/24 08:36 PM EST

Nov 5 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

- Anglo American to offload Australian coal mining stake for $1.1 bln

- Bank of England expected to cut interest rates despite looser fiscal policy

- UK MPs plan to grill Shein boss over labour practices

- UK government aims to ban smoking outside schools and hospitals

Overview

- Anglo American agreed to sell a 33.3% stake in a joint venture that owns a 70% interest in the Jellinbah East and Lake Vermont steelmaking coal mines in Australia, for A$1.6 billion ($1.05 billion).

- The Bank of England is expected to vote for its second interest rate cut this year despite predictions that Rachel Reeves' Budget will boost near-term demand.

- British lawmakers could question executives of online fast-fashion group Shein on workers' rights as early as January, ahead of a possible London listing, according to the head of a parliamentary committee.

- The British government plans to ban smoking outside schools, hospitals and playgrounds as a way of reducing the pressure on the state-run National Health Service and the cost to taxpayers.

($1 = 1.5191 Australian dollars) (Compiled by Bengaluru newsroom)

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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