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Art Cashin, UBS’ director of floor operations at the New York Stock Exchange who spent more than 60 years on Wall Street, has died aged 83.

“It is with a heavy heart that I inform you of the passing of ArthurCashin, Jr., a true giant in our industry, highly regarded market pundit,” Bill Carroll, head of sales and development at UBS Wealth Management USA, said in a memo to employees which was seen by Reuters on Monday.

Cashin, dubbed ‘Wall Street’s version of Walter Cronkite’ by The Washington Post, was a regular on CNBC, delivering stock market commentary and analysis to the business news channel’s viewers for more than 25 years.

He began his business career at Thomson McKinnon in 1959. In 1964, at age 23, he became a member of the NYSE and a partner of P.R. Herzig & Co.

In 1980, Cashin joined investment bank PaineWebber and managed their floor operation. PaineWebber was acquired by UBS in 2000.

At that time, the NYSE floor was the hub for the vast majority of all trading activity in the United States.

Cashin was one of three senior executive floor governors and also served as a member of the Bond Club of New York. He was also part of the high-IQ society Mensa.

In addition to his role at UBS, he is renowned for his daily newsletter, Cashin’s Comments, which has been published for over 25 years and reaches more than 100,000 readers daily. He has also been a regular on CNBC’s Art Cashin on the Markets, a segment airing several times a week, for more than two decades.

“It’s fair to say that over this time, Art Cashin became a household name for investors across the country, who benefited from his savvy insight on the markets, good humor and wit, while being one of UBS’s strongest brand ambassadors,” the memo said.

Cashin was born in Jersey City, NJ, in 1941, according to CNBC, which first reported on his death.

CNBC did not immediately respond to a Reuters request for comment. Cashin’s family could not be reached for comment.

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Business

In a time of change Sky News spent a critical year on a farm – find out what we learnt

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In a time of change Sky News spent a critical year on a farm - find out what we learnt

Many months before farmers found themselves on the front pages of newspapers, after protesting in Whitehall against the new government’s inheritance tax rules, we at Sky News embarked upon a project.

Most of our reports are relatively short affairs, recorded and edited for the evening news. We capture snapshots of life in households, businesses and communities around the country. But this year we undertook to do something different: to spend a year covering the story of a family farm.

We had no inkling, at the time, that farming would become a front-page story. But even back in January, 2024 was shaping up to be a critical year for the sector. This, after all, was the year the new post-Brexit regime for farm payments would come into full force. Having depended on subsidies each year for simply farming a given acreage of land, farmers were now being asked to commit to different schemes focused less on food than on environmental goals.

This was also the first full year of the new trade deals with New Zealand and Australia. The upshot of these deals is that UK farmers are now competing with two of the world’s major food exporters, who can export more into Britain than they do currently.

You can watch the Sky News special report, The Last Straw, on Sky News at 9pm on Friday

Read more
How climate change and red tape could be jeopardising UK access to affordable food
Rhetoric rises in farmer inheritance tax row – with neither side seemingly prepared to budge

On top of this, the winter that just passed was a particularly tough one, especially for arable farmers. Cold, wet and unpredictable – even more so than the usual British weather. It promised to be a challenging year for growing.

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With all of this in mind, we set out to document what a year like this actually felt like for a farm – in this case Lower Drayton Farm in Staffordshire. In some respects, this mixed farm is quite typical for parts of the UK – they rear livestock and grow wheat, as well as subcontracting some of their fields to potato and carrot growers.

A look at farming reimagined

But in other respects, the two generations of the Bower family here, Ray and Richard, are doing something unusual. Seeing the precipitous falls in income from growing food in recent years, they are trying to reimagine what farming in the 21st century might look like. And in their case, that means building a play centre for children and what might be classified as “agritourism” activities alongside them.

The Bower family
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The Bower family

The upshot is that while much of their day-to-day work is still traditional farming, an increasing share of their income comes from non-food activity. It underlines a broader point: across the country, farmers are being asked to do unfamiliar things to make ends meet. Some, like the Bowers, are embracing that change; others are struggling to adapt. But with more wet years expected ahead and more changes due in government support, the coming years could be a continuing roller coaster for British farming.

With that in mind, I’d encourage you to watch our film of this year through the lens of this farm. It is, we hope, a fascinating, nuanced insight of life on the land.

You can watch the Sky News special report, The Last Straw, on Sky News at 9pm on Friday

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Ukraine War: Vladimir Putin open to peace talks in Slovakia

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Ukraine War: Vladimir Putin open to peace talks in Slovakia

Russian President Vladimir Putin has said he would be open to peace talks with Ukraine in Slovakia “if it comes to that”. 

Mr Putin said Slovakian Prime Minister Robert Fico, who this week visited the Kremlin, had offered his country as a location for negotiations as the war in Ukraine nears the three-year mark.

The Russian president said the Slovakian authorities “would be happy to provide their own country as a platform for negotiations”.

“We are not opposed, if it comes to that. Why not? Since Slovakia takes such a neutral position,” Mr Putin said, adding he was resolved to end the conflict in Ukraine, which started with a land, air and sea invasion of Russia’s smaller neighbour in February 2022.

Follow the latest updates on the war in Ukraine

Ukraine is yet to comment on Slovakia’s offer but President Volodymyr Zelenskyy has repeatedly criticised the country, which borders Ukraine, for the friendly tone Mr Fico has struck towards Russia since his return to power after an election in 2023.

Mr Fico has been critical of EU support for Ukraine, where millions have been displaced since Mr Putin’s decision to launch a “special military operation” to “denazify” and “demilitarise” the 37 million-strong country.

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Mr Zelenskyy on North Korea and Slovakian PM in Moscow

Mr Putin has repeatedly said Russia is open to talks to end the conflict with Kyiv, but that it would nevertheless achieve its goals in Ukraine.

He has previously demanded Ukraine withdraw its bid to join NATO and asked it to recognise Russia’s gains. Both Kyiv and the West have rejected those demands.

Read more from Sky News:
Boxing Day tsunami ‘impossible to forget’ – Watch
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But while Mr Zelenskyy had for most of the conflict insisted Ukraine would keep fighting until it regained control of its territories, his position on negotiations now appears to have shifted.

In an interview with Sky News, Mr Zelenskyy suggested a ceasefire deal could be struck if the Ukrainian territory he controls could be taken “under the NATO umbrella”.

This would then allow him to negotiate the return of the rest later “in a diplomatic way”.

The Ukrainian leader admitted last week his forces would be unable to recapture any territories occupied by Russia in the east of Ukraine and the Crimean peninsula.

While Kyiv would never recognise Russia’s rule, he said diplomacy is the only option to get Mr Putin to withdraw his army.

The war in Ukraine has taken a devastating toll on Russia too. UK government and military analysis estimates that Russia has lost around half a million troops killed or wounded in Ukraine.

Such is the pressure on manpower that The Kremlin turned to one of its remaining allies, North Korea, to provide additional forces.

It’s thought 10,000 to 12,000 troops were sent in October to fight alongside the Russian military in the fighting in the Kursk region.

However it’s suggested their lack of combat experience has resulted in heavy losses, with Mr Zelenskyy saying earlier this week that 3,000 North Korean troops have already been killed and wounded.

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UK

Special educational needs children ‘segregated and left to struggle in wrong schools to save money’

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Special educational needs children 'segregated and left to struggle in wrong schools to save money'

Children with special educational needs are being “segregated” and left to struggle in the wrong schools because councils are trying to “save on costs”, parents have told Sky News. 

Maire Leigh Wilson, whose four-year-old son has Down’s syndrome, says she “shudders to think” where he would be now had she not been in a “constant battle” with her council.

“I think he would probably just be at the back of a classroom, running around with no support and no ability to sign or communicate,” she said.

Mrs Leigh Wilson wanted her son Aidan to go to a mainstream school with additional specialist support, but her council, who decide what is known as a child’s Education Health and Care Plan (EHCP), wanted him to attend a special school.

The number of EHCPs being appealed by parents has risen “massively”, according to education barrister Alice De Coverley.

She said councils are struggling to meet the volume of demand with “stretched budgets”, and parents are also more aware of their ability to appeal.

Mrs De Coverley said more than 90% of tribunals are won by parents, in part because councils do not have the resources to fight their cases.

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She said, in her experience, parents of children with special educational needs will put “anything on the line, their homes, their jobs”.

On whether she thinks the system is rigged against parents, Mrs De Coverley said: “I’m not sure it’s meant to be. But I think that parents are certainly finding it very tough.”

She added the number of “unlawful decisions” being made by local authorities means parents who can afford it are being “utterly burnt out” by legal challenges.

Read more:
Three in four parents of SEND children forced to give up work or cut hours

Maire Leigh Wilson with her son, Aiden, four
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Maire Leigh Wilson with her son, Aiden, four

Mrs Leigh Wilson’s case was resolved before making it to court.

Her council, Hounslow in southwest London, said they complete more than four in five new EHCPs within the statutory 20-week timescale, twice the national average.

Hounslow Council said they “put families at the heart of decision-making” and young people in the area with special educational needs and disabilities achieve, on average, above their peers nationally.

They admitted there are areas of their offer “that need to be further improved” and they are “working closely with families as a partnership”.

“We have a clear and credible plan to achieve this, and we can see over the last 18 months where we have focused our improvement work, the real benefits of an improved experience for children, young people, and their families,” a Hounslow Council spokesman said.

He added the council had seen the number of EHCPs double in the last decade and they “share parents’ frustrations amid rising levels of national demand, and what’s widely acknowledged as a broken SEND system”.

Emma Dunville wanted her son, Albie, to go to a special school but the council took too long to assess him
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Emma Dunville wanted her son, Albie, to go to a special school but the council took too long to assess him

Emma Dunville, a friend of Mrs Leigh Wilson whose son also has Down’s syndrome, describes her experience trying to get the right education provision for her child as “exhausting mentally and physically”.

She said: “For the rest of his life we’ll be battling, battling, battling, everything is stacked up against you.”

Unlike Mrs Leigh Wilson, Mrs Dunville wanted her son Albie to go to a special school, but she had to wait more than a year for an assessment with an education psychologist to contribute to the council’s decision, which meant she missed the deadline for an EHCP.

“The people making these decisions just don’t see that all children with Down’s syndrome are totally different and can’t be seen as the same.”

The guidelines are that if there are not enough local authority-employed education psychologists they should seek a private assessment, but her local authority did not do that.

Mrs Dunville said her son has been “segregated” in a mainstream school, where they are “trying their best” but “it’s just not the right setting”.

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