LONDON (Reuters) – Lloyd’s of London’s underwriting profit jumped 127% in 2023 to 5.9 billion pounds ($7.52 billion), it said on Thursday, as commercial insurers have cut back on riskier business and raised premiums. Gross written premiums rose by 11.6% to 52.1 billion pounds across the commercial insurance market, which has more than 50 member …
Lloyd’s of London 2023 underwriting profit doubles Read More »
LONDON (Reuters) -Britain said on Thursday it had lodged an appeal after a ruling against its amnesty law for ex-soldiers and militants involved in Northern Ireland’s decades of violence. Britain’s offering of conditional amnesties to ex-soldiers and militants involved in three decades of bloody confrontation in Northern Ireland, called the Legacy Act, was ruled to …
Britain launches appeal in Northern Ireland amnesty law case Read More »
LONDON (Reuters) – British house prices rose for a fifth month in a row in February, climbing by 0.4% from January, according to data from mortgage lender Halifax on Thursday that echoed other signs of a recovery in the housing market. In year-on-year terms, prices rose by 1.7%, slowing from a 2.3% increase in the …
UK house prices rise for 5th month in a row – lender Halifax Read More »
LONDON (Reuters) -British finance minister Jeremy Hunt said he plans an extra tax on vaping products from October 2026 to make the habit more expensive and deter non-smokers from taking it up. Hunt said the government would introduce a one-off increase in tobacco duty at the same time to maintain the financial incentive to choose …
By David Milliken LONDON (Reuters) -British finance minister Jeremy Hunt has left himself and his successors “historically modest” room to put public debt on a downward path, the Office for Budget Responsibility said after he presented his annual budget on Wednesday. The OBR said Hunt’s budget plans were just enough to meet the government’s fiscal …
Watchdog says UK government has ‘historically modest’ budget leeway Read More »
By William Schomberg LONDON (Reuters) – British finance minister Jeremy Hunt’s new tax cuts have given his struggling Conservatives slim hope of narrowing the wide gap with the opposition Labour Party before an election expected later this year, but the scale of the challenge remains huge. Hunt announced a two percentage-point cut in the rate …
Analysis-“No silver bullet” but UK Conservatives hope for tax cut boost Read More »
By David Milliken, Kylie MacLellan and Elizabeth Piper LONDON (Reuters) – Britain’s Conservative government announced a 10-billion-pound ($13 billion) cut in labour taxes on Wednesday, paring emergency reserves to pay for it, in what could be the last budget ahead of an election it looks doomed to lose. The budget fell short of the big …
Sunak government bets on tax cuts to revive UK election chances Read More »
By Naomi Rovnick and Harry Robertson LONDON (Reuters) – Investors in UK assets reaffirmed a view that the economy was heading for interest rate cuts in the coming months as finance minister Jeremy Hunt resisted budget giveaways on Wednesday that could have sparked fears of inflationary over-spending. Hunt trimmed national insurance contributions by 2 pence …
Trouble-free UK budget reaffirms market bets for rate cuts Read More »
By Alistair Smout LONDON (Reuters) -British finance minister Jeremy Hunt moved on Wednesday to abolish a long-contentious “non-dom” status that lets wealthy, often foreign residents avoid tax on overseas income, adopting a major policy of the opposition Labour Party before an election. Non-domiciled status has often been used by billionaires living in London but who …
UK scraps ‘non-dom’ tax status for the wealthy on foreign earnings Read More »
By Sam Tobin LONDON (Reuters) -The former managing director of an Airbus subsidiary was acquitted in a London court on Wednesday of bribing senior Saudi Arabian officials, after a trial in which the British government was accused of involvement in the alleged corruption. Jeffrey Cook, who ran GPT Special Project Management, had been charged with …
Two UK men found not guilty over bribes for Saudi military deals Read More »
