Reuters UK Domestic

By Huw Jones LONDON (Reuters) -Turning the City – London’s financial district – into a “Wild West” to attract more business after Brexit would be self-defeating as maintaining financial stability is key to competitiveness, Bank of England Deputy Governor Sam Woods said on Thursday. Britain’s parliament is approving a new financial services bill giving regulators …

Turning City of London into the ‘Wild West’ would be self-defeating, says BoE’s Woods Read More »

By Alistair Smout and Sachin Ravikumar LONDON (Reuters) – British Prime Minister Rishi Sunak will not attend the COP27 climate summit that begins in Egypt next month, his office said on Thursday, with other senior ministers going instead to allow him to focus on domestic issues and a major fiscal statement. Sunak became prime minister …

New British PM Sunak will not attend COP27 climate summit Read More »

LONDON (Reuters) – Britain would have the power to regulate all cryptoassets under a proposal the UK financial services minister has added to a draft law before parliament that will almost certainly pass. Andrew Griffith, re-appointed as City Minister on Thursday by Britain’s new Prime Minister Rishi Sunak, put forth the amendment to the financial …

Britain proposes regulation of all cryptoassets Read More »

LONDON (Reuters) – Britain’s new Prime Minister Rishi Sunak and German Chancellor Olaf Scholz have agreed on the need to continue to support Ukraine in its conflict with Russia, Sunak’s office said on Thursday. “The Prime Minister and the Chancellor agreed on the need to continue supporting Ukraine and maintaining pressure on (Russian President Vladimir) …

UK PM Sunak, Germany’s Scholz agree to maintain sanctions pressure on Russia Read More »

LONDON (Reuters) – Britain’s Prince Harry’s memoir will be published on Jan. 10 with the title “Spare” and will tell with “raw unflinching honesty” his journey from “trauma to healing”, publisher Penguin Random House said on Thursday. The book, which was originally due to be published later this year, will be “full of insight, revelation, …

Prince Harry’s memoir to be published in January, titled ‘Spare’ Read More »

LONDON (Reuters) – About 1,000 British beer delivery drivers have suspended plans to take strike action at the end of this month after receiving a better pay offer from logistics company GXO, the Unite union said on Thursday. “Following a significantly improved pay offer from GXO the strike action planned for next week has been …

UK beer delivery drivers suspend strike after improved pay offer Read More »

By Iain Withers and Lawrence White LONDON (Reuters) – Having hiked mortgage rates after political turmoil drove up the cost of borrowing, British banks are now cutting home loan prices, albeit slowly, as markets calm since Liz Truss’s government collapsed and Rishi Sunak took power. Market chaos unleashed by Truss’s vast unfunded tax-cutting plans in …

UK banks start cutting ‘Truss premium’ from mortgage rates, but slowly Read More »

By Iain Withers and Lawrence White LONDON (Reuters) – Lloyds Banking Group is bracing for a downturn in Britain’s housing market and a rise in unpaid loans as inflation squeezes borrowers, leading it to report a slide in quarterly profit on Thursday. Lloyds downgraded its economic forecasts to reflect a worsening outlook, and is now …

UK’s Lloyds braces for housing crunch, bad loans as profit slides Read More »

(Reuters) – British Prime Minister Rishi Sunak is considering tax rises and major public spending cuts, according to The Telegraph. Sunak on Wednesday delayed the announcement of a keenly awaited plan for repairing the country’s public finances until Nov. 17, two-and-a-half weeks later than previously planned. The fortnight delay is expected to shrink the size …

UK’s Sunak reconsiders tax rises -The Telegraph Read More »