Reuters UK Domestic

LONDON (Reuters) – Bank of England Governor Andrew Bailey said the three-quarters-of-a-percentage point increase in interest rates announced by the central bank on Thursday was not setting a precedent for future changes in borrowing costs. “The fact that we’ve 75 (basis points) today, nobody should read into it that’s the new norm,” Bailey told Bloomberg …

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By Harry Robertson LONDON (Reuters) -Sterling dropped sharply on Thursday after the Bank of England said borrowing costs were likely to go up less than markets expect and warned that the economy was heading for a protracted recession even as it raised rates by the most in three decades. In unusually forthright language, the BoE …

Sterling slumps as BoE warns of long recession Read More »

LONDON (Reuters) – BT, Britain’s biggest broadband and mobile operator, increased its savings target by 500 million pounds to help fund the rising cost of building its fibre network as it met earnings forecasts in the first half. “Given the current high inflationary environment, including significantly increased energy prices, we need to take additional action …

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LONDON (Reuters) – Sainsbury’s, Britain’s second-biggest supermarket group, said consumers were trying to spread out the cost of Christmas by buying products earlier as they try to manage household budgets in the face of high inflation. Chief executive Simon Roberts also told reporters on Thursday that he was also seeing a shift to own brand …

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By Huw Jones LONDON (Reuters) – Companies fail to reveal if meetings with shareholders alter their behaviour, such as in setting pay for top executives, Britain’s corporate governance regulator said on Thursday. The Financial Reporting Council (FRC) randomly sampled 100 of Britain’s top 350 listed companies to see how they abide by the UK’s ‘soft …

UK watchdog tells companies to reveal more about meeting shareholders Read More »

MONTREAL (Reuters) – Quebec is ready to introduce legislation that would stop requiring elected officials to swear an oath to Britain’s King Charles in the mostly French-speaking Canadian province’s national assembly, a government official said on Wednesday. Britain colonized Canada beginning in the late 1500s, eventually defeating French colonists who had mostly settled in Quebec. …

Quebec wants to end politicians’ mandatory oath to King Charles Read More »

(Reuters) -Russia summoned the British ambassador on Thursday over Moscow’s claim that British navy personnel were involved in a Ukrainian drone attack on Russia’s Black Sea Fleet in Crimea. Ambassador Deborah Bronnert arrived at the foreign ministry shortly after 1030 local time (0730 GMT) as a small crowd chanted anti-British slogans and held up placards …

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LONDON (Reuters) -British engineering company Rolls-Royce stuck to its forecasts for 2022 despite facing headwinds from the rising cost of energy and raw materials and supply chain snags which have led to higher levels of inventory. The group, whose engines power the Airbus A350 and Boeing 787, is aiming for low-to-mid-single digit underlying revenue growth, …

Britain’s Rolls-Royce sticks to guidance despite inflation headwinds Read More »