Fitch Downgrades United Kingdom To ‘aa+’; Outlook Stable

on Friday night, a ridge of high pressure will build into Ireland and most of the U.K. beginning on Saturday and continuing through Sunday. With some sunshine expected, temperatures throughout the region will rise into middle teens to near 20 degrees C (59-68 degrees F) during the day across Ireland, Wales and England, making the weather favorable for leaf peepers and most any other outdoor activities. The average high for early October in London is approximately 15-16 degrees C (60 degrees F) while Dublin’s average high is typically around 15 degrees C (59 degrees F). Even parts of Scotland are expected to see some breaks of sunshine this weekend, though low clouds are likely to remain most stubborn across the western and northern coasts. High pressure should remain across England, Wales and most of Ireland into the first part of the next week, while Scotland will see some breaks of sunshine along with an isolated shower chance. Trending In Weather 1 OCT 3 1841 The “October Gale” hit southern New England. It was the worst ever to hit Nantucket. The storm raised havoc with the Cape Cod fishing fleet with 40 ships being washed ashore on Cape Cod and 57 men were lost from the town of Truro, Massachusetts alone. The storm caused heavy snow inland, with 3 inches at Concord, Massachusetts and 18 inches at Middletown, Connecticut. 1917 San Francisco, California had their highest ever October temperature reading. The mercury hit 96 degrees. 1963 Hurricane Flora, one of the deadliest hurricanes on record in the Atlantic Basin, battered Haiti with sustained winds around 145 mph. The storm moved northwestward, meandered over western Cuba from the 4th to the 8th, and then finally accelerated northeastward out to sea.

Deutsche Bank To Begin Trading The db X-Trackers MSCI United Kingdom Hedged Equity Fund (NYSEArca:DBUK)

Britain kicks off Royal Mail sale with $5.3 billion price tag By Kylie MacLellan, Neil Maidment | September 28, 2013 12:18 AM Britains Royal Mail postal service should command a value of as much as 3.3 billion pounds ($5.3 billion) when it makes its stock market debut next month, the government said Friday as it began taking orders for the sell-off. EU investigating Gibraltar border dispute September 25, 2013 03:53 PM A team of European Union inspectors was in Gibraltar on Wednesday to investigate a border dispute that has strained relations between Britain and Spain. UK to provide $48M for Syrian refugee children September 24, 2013 02:19 PM Britain announced a $48 million initiative to provide trauma counseling and education for children affected by the war in Syria. Time for Iran statements to be matched with action: UK’s Hague September 23, 2013 11:13 PM British Foreign Secretary William Hague on Monday welcomed recent statements from Iran’s new government that it wants to improve relations with the West and ease concerns about its nuclear program but said words alone would not be enough. U.K.s Brown to make appeal for Syrian children September 24, 2013 12:35 AM Former U.K. Prime Minister Gordon Brown plans to make an international appeal for $500 million to help Syrian children attend school in Lebanon, according to a new report. Tesco joins tablet computer market September 23, 2013 04:25 PM Britain’s biggest retailer Tesco unveils its first tablet computer, as the supermarket chain seeks to boost flagging sales in its domestic market. US singer Jason Derulo’s “Talk Dirty” tops British singles chart By William James, Belinda Goldsmith | September 23, 2013 11:05 AM American R&B singer Jason Derulo notched up his third British number one single on Sunday with “Talk Dirty”, ending U.S. singer Katy Perry’s two-week run in the No. 1 slot, sales figures showed. British Labour leader under fire as conference kicks off September 22, 2013 02:00 PM Britain’s main opposition Labour party kicks off its annual conference with leader Ed Miliband under pressure amid sliding poll ratings 18 months before a general election. U.K. eases travel warning after threat of strikes dissipates September 19, 2013 12:20 AM The United Kingdom has relaxed its recently tightened travel advice to Lebanon and is now only advising against visiting some areas in the country, a statement from the embassy said Wednesday.

– Despite significant progress in reducing public sector net borrowing (PSNB from a peak of 11.2% of GDP (GBP159bn) in 2009-10, the budget deficit remains 7.4% of GDP (excluding the effect of the transfer of Royal Mail pensions) and is not expected to fall below 6% of GDP and GBP100bn until the end of the current parliament term. The slower pace of deficit reduction means that the next government will be required to implement substantial spending reductions (and/or tax increases) if public debt is to be stabilised and reduced over the medium term. The Stable Outlook on the UK’s sovereign ratings reflects the following factors. – Under Fitch’s baseline economic and fiscal scenario, which assumes a continued policy commitment to reducing the underlying budget deficit and medium-term annual growth potential of 2%-2.25%, government debt gradually falls as a share of national income in the latter half of the decade. – The long average maturity of public debt (15 years) – the longest of any high-grade sovereign -exclusively denominated in local currency and low interest service burden implies a higher level of debt tolerance than many high-grade peers. – The international reserve currency status of sterling and the ability and willingness of the Bank of England to intervene in the UK government debt market largely eliminates the risk of a self-fulfilling fiscal financing crisis. – The gradual improvement in the UK banking sector’s capital and liquidity position has further reduced contingent liabilities arising from this sector. The UK’s ‘AA+’ rating is underpinned by its high-income, diversified and flexible economy as well as a high degree of political and social stability. The monetary policy framework as well as sterling’s international reserve currency status afford the UK a high degree of financial and economic policy flexibility. Strong civil and policy institutions and a high degree of transparency enhance the predictability of the business and economic policy environment that compares favourably with peers in the ‘AA’ category. Weak economic performance and growth prospects, relatively high levels of private and foreign as well as public debt, along with sizeable twin fiscal and current account deficits, are weaknesses relative to rating peers. RATING SENSITIVITIES The Stable Outlook indicates a less than 50% chance of a change in the UK sovereign ratings over the next two years.

United Kingdom

The db X-trackers MSCI United Kingdom Hedged Equity Fund (the Fund) seeks investment results that correspond generally to the performance, before fees and expenses, of the MSCI United Kingdom US Dollar Hedged Index. Total Annual Fund Operating Expenses: 0.45 Principal Investment Strategies Have you ever wondered how billionaires continue to get RICHER, while the rest of the world is struggling? “I study billionaires for a living. To be more specific, I study how these investors generate such huge and consistent profits in the stock markets — year-in and year-out.” CLICK HERE to get your Free E-Book, The Little Black Book Of Billionaires Secrets The Underlying Index is designed to provide exposure to the United Kingdom equity markets, while at the same time mitigating exposure to fluctuations between the value of the U.S. dollar and British pound sterling. As of August 13, 2013, the MSCI United Kingdom US Dollar Hedged Index consisted of 107 securities with an average market capitalization of approximately $24.8 billion and a minimum market capitalization of approximately $1.8 billion. The Underlying Index hedges British pound sterling to the U.S. dollar by selling British pound sterling currency forwards at the one-month forward rate published by WM/Reuters. For U.S. investors, international equity investments include two components of return. The first is the return attributable to stock prices in the non-U.S. market or markets in which an investment is made.