By Susanna Twidale LONDON (Reuters) – Britain announced plans on Wednesday to speed up the process for new electricity projects to be connected to the country’s power grid and to reward communities located near new infrastructure. Britain has a target to decarbonise its power sector by 2035, which will require many more renewable power plants …
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(Reuters) – Severn Trent retained its annual financial forecast on Wednesday, even as the British water utility posted an about 3% fall in half-yearly profit, mainly hurt by higher energy and chemical prices. British water utilities have been under government and public scrutiny for paying executives bonuses and shareholders dividends while industry environmental standards remain …
UK’s Severn Trent retains annual forecast despite lower half-yearly profit Read More »
(Reuters) -J.P.Morgan said it now expects the Bank of England (BoE) to deliver 50 basis points of interest rate cuts in the fourth quarter of 2024, compared to an earlier expectation of a pause at current levels throughout 2024. “The current pace of loosening in the labour market suggests there is a risk the BoE …
J.P.Morgan expects BoE to deliver its first rate cut in Q4 2024 Read More »
By Aby Jose Koilparambil (Reuters) -Workspace Group on Tuesday forecast strong rental growth in the second half of the current fiscal year, after the London-focused flexible office-space provider posted a half-year loss as elevated interest rates hit the valuation of its buildings. Flexible space operators such as Workspace have performed well on the operational front …
London-focused Workspace forecasts strong second-half rental growth Read More »
By David Milliken LONDON (Reuters) -Britain’s minimum wage will increase by 9.8% to 11.44 pounds ($14.26) an hour from April 2024, making it one of the highest as a share of average earnings of any advanced economy. Finance minister Jeremy Hunt announced the increase on the eve of delivering a mid-year budget update which is …
Britain to raise minimum wage by 9.8% to 11.44 pounds an hour Read More »
(Reuters) -Food delivery firm Deliveroo’s riders cannot be represented by a trade union for the purposes of collective bargaining, the United Kingdom’s Supreme Court ruled on Tuesday. The Independent Workers Union of Great Britain (IWGB) had tried to represent a group of Deliveroo riders in order to negotiate pay and conditions with the company. The …
Deliveroo riders not entitled to collective bargaining, top UK court rules Read More »
LONDON (Reuters) – The British version of the globally popular BBC car show ‘Top Gear’ will not return for the foreseeable future, the broadcaster said, after a crash in December which left presenter Andrew “Freddie” Flintoff with serious injuries. The BBC said in March it had decided to halt production following the accident, which occurred …
BBC scraps UK Top Gear show for ‘foreseeable future’ following crash Read More »
By Samuel Indyk London (Reuters) – The British pound hit a 10-week high against a weaker U.S. dollar on Tuesday as Bank of England Governor Andrew Bailey reiterated that the central bank’s stance on interest rates did not need changing. Bailey told the British parliament’s Treasury Select Committee that inflation was on track to get …
Sterling hits 10-week high, BoE officials reiterate higher-for-longer stance Read More »
By James Davey LONDON (Reuters) -British online consumer electricals retailer AO World raised its expectations for the full year after returning to profit in the first half as reduced costs and improved margins offset a fall in sales in a tough market for discretionary spending. In the UK, though inflation is falling, borrowing costs are …
UK’s AO World raises outlook after return to profit Read More »
LONDON (Reuters) – The British economy is now in a position where the government can focus on cutting tax for individuals, junior finance minister Laura Trott said on Tuesday ahead of a budget update this week. Prime Minister Rishi Sunak said on Monday his government would turn to cutting tax after a fall in inflation, …
UK government can now focus on cutting taxes for individuals – junior finance minister Read More »
