Ghana Delays Rate Announcement After Calling Emergency Meeting
It unexpectedly advanced a gathering of the monetary policy committee and declared it would hold an emergency meeting on Thursday — with an announcement of the outcome on Friday — and then changed its mind.
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Yahoo
8 hours ago
- Yahoo
What will the new banknotes look like?
The Bank of England has received thousands of responses to its appeal for ideas for the first major redesign of banknotes in 50 years. They included a high volume of ideas from young people despite trends showing they are less likely to use cash, instead preferring mobile payments. "We have had many thousands of responses and lots of interest and engagement from young people too," said Victoria Cleland the Bank's chief cashier. It released some examples of designs it has received, including a dolphin, the Sycamore Gap tree - also known as the Robin Hood tree and the Angel of the North sculpture in Gateshead. "The reaction shows how important banknotes are as way to celebrate the UK and how much we have to celebrate," Ms Cleland said. The Bank of England asked for public views on new themes for bank notes, such as nature, innovation, or key events in history. They were also asked to suggest other original themes by the end of July. "People have engaged strongly with our six suggested themes, and within these have suggested a wide range ideas, from engineering achievements to folklore and mythology to transport," Ms Cleland said. This public consultation relates to the Bank's next series, which will also continue to include an image of the monarch. The final decision on what exactly features on a banknote lies with the Bank's governor Andrew Bailey. Current design Notable historical figures, such as Sir Winston Churchill on the current fiver, have featured on banknotes since 1970 but could be on the way out. The monarch has appeared on Bank of England notes since 1960. Images of historical characters, starting with William Shakespeare, were first seen on the reverse side a decade later. Now, the Bank is proposing that designs on the next series of notes could move on to a new theme. While notable historical figures remain an option, other possible subject matters suggested by the Bank include: architecture and landmarks, such as famous buildings or castles arts, culture and sport, including food, film and novels noteworthy events in history, which could include events or movements innovation, such as technology or discoveries nature, celebrating plants, animals or natural landscapes such as rivers or coastal scenes Banknotes issued in Scotland and Northern Ireland already carry images of landmarks and animals such as otters. Euro banknotes feature architectural styles. More on this story Bank of England to redesign banknotes - and wants your help £6.6bn in old UK banknotes and coins not cashed in
Business Wire
11 hours ago
- Business Wire
Technology Competitiveness and Industrial Policy Center Announces Policy Study Awards
BERKELEY, Calif.--(BUSINESS WIRE)--The Technology Competitiveness and Industrial Policy Center ( an academic research center launched this spring at the University of California, Berkeley, announced funded proposals responding to its first call for policy study proposals issued in March. The TCIP Center awarded technology and policy teams including industry experts and academic researchers from the Massachusetts Institute of Technology, Stanford University, and Carnegie Mellon University, along with the University of California, Berkeley. The TCIP Call for Policy Study Proposals requested proposals addressing how the U.S. can assert or regain competitiveness not only in advanced technology research and development, but also in advanced manufacturing domestically. 'The U.S. may lead the world in many parts of the value chain of advanced technology," says Mark Liu, TCIP founder and former executive chairman of TSMC, world's largest semiconductor manufacturer, "yet it lags behind other countries in the production of these advanced technologies.' 'These proposals will put us on the path to increased competitiveness, envisioning the hyperstructure needed to scale and deploy emerging technologies,' says TCIP Faculty Director S. Shankar Sastry, professor of electrical engineering and computer sciences at the University of California, Berkeley. Accepted Proposals Scaling Wide-Bandgap Technologies for Energy, Transportation, and Digital Infrastructure, Study Lead Saurabh Amin, Massachusetts Institute of Technology. Analyzing causal and policy factors shaping U.S. WBG semiconductor competitiveness, focusing on scaling up essential technologies production to meet rapidly escalating demand in energy, transportation, and digital infrastructure. Strategic Pathways for Next-Generation Nuclear Deployment, Study Lead Per Petersen, University of California, Berkeley. Exploring key barriers and opportunities around the development and deployment of next-gen nuclear energy, including small modular reactors and advanced reactors, to deliver safe, scalable, low-carbon energy. Governing the Future of Nuclear Fusion, Study Lead Andrew Reddie, University of California, Berkeley. Building supportive pipelines and frameworks to transition landmark breakthroughs and rapid innovation in fusion energy to commercial viability. Semiconductor Manufacturing Ecosystems, Study Lead H.-S. Phillip Wong, Stanford University. Taking an ecosystem-wide approach to identifying models for success in semiconductor R&D and manufacturing. Global Shift Toward EVs and Challenges to American Competitiveness, Study Lead John Zysman, University of California, Berkeley. Examining the global shift toward electric vehicles, the resulting challenge to American competitiveness in this sector, and what it would take to develop a vibrant American EV industry. These studies follow the inaugural TCIP policy study on Technology Leadership in Rechargeable Electrochemical Batteries announced in April. Founded in February 2025 at the University of California, Berkeley, by industry leader and former TSMC Executive Chairman Mark Liu, the Technology Competitiveness and Industrial Policy Center (TCIP Center), aims to develop a new vision for advanced technology development and production in the U.S. through academic research, industrial capabilities, and regulatory policy study and recommendations. For more information, see and follow @TCIPcenter on social media.
Newsweek
13 hours ago
- Newsweek
These Are the Most Expensive Retirement Towns in America
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. California has emerged as the epicenter of high-cost retirement living, with recent analyses listing five of its cities as the most expensive retirement towns in the United States. Saratoga, Rancho Palos Verdes, Walnut Creek, Cerritos and Palm Springs topped the charts for annual living costs for retirees, according to a new report from GOBankingRates. While other states like Florida, Massachusetts and Arizona have towns high on the list, California's dominance is evident, with Florida contributing the highest number of expensive retirement towns overall. Why It Matters The cost of retirement is a top concern for millions of Americans. With the median retirement savings at just $87,000, a far cry from the $1.26 million Americans now say they need to retire comfortably according to Northwestern Mutual, understanding where living costs are highest is critical for financial planning. Housing, health care and everyday expenses in these high-cost towns far outpace national averages, potentially putting comfortable retirement out of reach for many. Rising costs can also drain even well-prepared nest eggs faster than anticipated, emphasizing the need for careful decision-making regarding location and lifestyle in retirement. The cover page for the summary of the 2016 Status of the Social Security and Medicare Programs released by the Social Security and Medicare Board of Trustees. The cover page for the summary of the 2016 Status of the Social Security and Medicare Programs released by the Social Security and Medicare Board of Trustees. AP Photo/Jon Elswick What To Know Data published by GOBankingRates placed Saratoga, California, at the top of the list, with the average home value exceeding $4.1 million and an annual cost of living for retirees of $282,625. Rancho Palos Verdes came in second, costing $144,381 per year to maintain a homeowner's retirement lifestyle. Walnut Creek ($115,206), Cerritos ($91,644) and Palm Springs ($86,550) followed closely, with each city requiring average home values near or above $1 million. "California's reputation for being expensive isn't new, and to be honest, some of it's well-earned," Kevin Thompson, the CEO of 9i Capital Group and the host of the 9innings podcast, told Newsweek. "Yes, it's cost-prohibitive for a lot of retirees, but California also offers high-performing health care, great weather and an active, outdoor lifestyle that helps people stay healthier longer." The top 10 most expensive retirement towns in the U.S.: Saratoga, California Rancho Palos Verdes, California Walnut Creek, California Cerritos, California Palm Springs, California Scottsdale, Arizona La Quinta, California Gloucester, Massachusetts Palm Beach Gardens, Florida Barnstable Town, Massachusetts The analysis included essential expenses, like groceries, health care, housing and utilities, to determine the true cost for retirees. Experts say more retirees moving outside of California could have long-standing implications for housing markets and costs of living. "People who can't afford to retire in California are likely to look elsewhere—places with lower costs—which can end up driving up prices in those new regions," Thompson said. "As demand rises, so do housing prices, living expenses and possibly property taxes." While California claimed the top five spots, expensive retirement towns also appeared in Arizona (Scottsdale), Massachusetts (Gloucester, Barnstable Town) and Florida (Palm Beach Gardens). The annual living cost for homeowners in Scottsdale was $81,525, while in Palm Beach Gardens it was $70,601. Massachusetts' Gloucester and Barnstable Town posted annual costs of $71,334 and $68,453, respectively. Florida may not claim the single most expensive spot, but it houses nearly half of the 30 priciest retirement destinations, with 14 towns in the top 30. Notable towns include Aventura, Sarasota and Bonita Springs, many with yearly costs for retirees topping $60,000. Separate data from The Motley Fool highlighted large urban areas such as New York City (cost of living index: 229.9), Honolulu (184.6), and San Jose, California (183.7) as the most expensive overall for retirees, though these were not specifically retiree-majority towns. High home prices, along with premiums for health care and services, continue to keep these cities out of reach for most. "The larger lesson is that location‑specific planning matters more than ever. That wider funding gap forces households either to save far more, work longer, or relocate," Lily Vittayarukskul, the CEO and co-founder of the long-term care predictor platform Waterlily, told Newsweek. "States with chronic housing shortages will see a bifurcated retiree population: affluent owners who can age in place and moderate‑income households who exit for affordability, shifting local labor markets and health care demand in the process." The GOBankingRates study screened for U.S. cities with populations over 25,000 and at least 25 percent aged 65 or older. Costs analyzed included home value, mortgage and rent, as well as indices for essentials like groceries, health care and utilities. "If you value affordability, the biggest winner on this list is likely Texas, which is a growing retirement destination and didn't have a single city make the top 20," Rudri Patel, senior retirement expert and writer at GOBankingRates, told Newsweek. What People Are Saying Kevin Thompson, the CEO of 9i Capital Group and the host of the 9innings podcast, told Newsweek: "Retirement costs are driven by a few key things: the cost of living, local taxes, and access to health care and hospitals. The more access people have to high-quality health care, the more demand you tend to see, not just for services, but for housing, which pushes up property values and taxes. That's why some areas are flat-out more expensive to retire in than others." Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, told Newsweek: "It's not much of a surprise to see some California cities on the list, as the state offers one of the most expensive costs of living for residents. What is surprising to some current or future retirees is cities from other warm-weather states like Florida and Arizona being so dominant on the list, and that speaks of the elevated costs that have come to these locations in recent years. "From increasing housing costs to higher health care expenses, these cities in states that were traditionally favored by retirees as being more affordable are now very costly and are worth some reconsidering whether those are the best fit for their budgets." Rudri Patel, senior retirement expert and writer at GOBankingRates, told Newsweek: "This analysis challenges the long-standing perception that Florida and Arizona are the most affordable retirement destinations in the U.S. As these states grow in popularity, many of their top retirement towns are experiencing sharp increases in the cost of living. For retirees, that means it's not enough to consider state-level affordability—it's essential to evaluate the specific costs in popular retirement communities before making a move." What Happens Next The increasing cost of retirement is expected to remain a key concern for current and future retirees, particularly as inflation and housing prices continue to rise in premier destinations. Financial planning experts recommend that potential retirees reexamine their budgets, assess cost-of-living projections and consider alternative retirement locales if affordability is an issue. However, a massive migration of retirees out of places like California and Florida could have ripple effects, Thompson said. "As more retirees chase affordability in those other states, the pressure on local hospitals and health care infrastructure will increase. That increased demand can lead to higher health care costs in the long run, especially in areas that weren't built to handle a large influx of retirees," Thompson said. "So really, no region is immune. It's a ripple effect, and it starts with access to care."
