Reuters UK Business

LONDON (Reuters) – Britain will introduce sales tax free shopping for overseas visitors to boost the retail sector, finance minister Kwasi Kwarteng said on Friday. “We have decided to introduce VAT-free shopping for overseas visitors…And this will be in place as soon as possible,” he told parliament during the presentation of a mini-budget. (Reporting by …

UK to introduce sales tax free shopping for overseas visitors – Kwarteng Read More »

LONDON (Reuters) – British finance minister Kwasi Kwarteng confirmed on Friday that the government would not go ahead with a plan to increase corporation tax to 25%, holding it instead at 19% in a bid to spur economic growth. Britain’s 19% corporation tax rate had been due to rise to 25% in 2023 under plans …

Britain’s Kwarteng scraps planned corporation tax rise Read More »

LONDON (Reuters) – British finance minister Kwasi Kwarteng outlined what he called an “unprecedented set of tax incentives” for businesses in newly-announced investment zones, saying the government would also liberalise planning rules for specified agreed sites. “On purchases of land and buildings for commercial or new residential development, there will be no stamp duty to …

Britain outlines tax incentives for new investment zones Read More »

(Reuters) -British drugmaker GSK said on Thursday it would take a stake in Spero Therapeutics as part of a licensing agreement for the U.S.-based drug developer’s experimental antibiotic for complicated urinary tract infections (cUTI). GSK will pay $66 million upfront for the oral antibiotic tebipenem HBr and buy $9 million of Spero shares as part …

GSK eyes Spero’s experimental urinary tract infection drug, takes stake Read More »

LONDON (Reuters) – Bank of England policymaker Jonathan Haskel said he was not very concerned about the level of sterling, after being challenged about the currency’s weakness. “I actually don’t worry too much about the currency, to be honest. Currencies go up, currencies go down,” Haskel said in response to a question during a panel …

Bank of England’s Haskel says he is not worried by sterling Read More »

By Charlotte Van Campenhout HOEVELAKEN, Netherlands (Reuters) – For five generations, Dutchman Dennis Toebast’s family has prospered as bread bakers. But since the war in Ukraine his energy bills have jumped fivefold, casting doubt on plans to eventually hand the business down to his daughter. With as many as a million Dutch households at risk …

Bread sales can’t cover energy bill at family-run Dutch bakery Read More »

By David Milliken LONDON (Reuters) -Bank of England policymaker Jonathan Haskel said the UK central bank was in a difficult position as the government’s expansionary fiscal policy appeared to place it at odds with the BoE’s efforts to cool inflation. “We are in a difficult, uncomfortable position, frankly, because I don’t like being in a …

BoE’s Haskel sees tension with government fiscal expansion Read More »

By Huw Jones LONDON (Reuters) -A temporary brake on gas and electricity derivatives when prices spike could improve how energy markets operate, the European Union’s securities watchdog proposed on Thursday, along with more fundamental changes over time. The European Securities and Markets Authority (ESMA) said the number of trading halts in energy derivatives has been …

EU watchdog proposes emergency brake for energy markets Read More »