LONDON (Reuters) – British Prime Minister Liz Truss made an “unequivocal commitment” to raise defence spending to 3% of Gross Domestic Product by 2030 at a meeting with lawmakers, a source told Reuters on Tuesday. (Reporting by Andrew MacAskill, writing by Muvija M; editing by William James)
(Reuters) -British Airways is set to avoid a pilots’ strike after the airline reached an agreement on the outline of a pay deal with the union, the Financial Times reported on Tuesday. The IAG-owned carrier’s agreement with the British Airline Pilots’ Association (BALPA) includes a 4% pay rise for this year. “We are pleased to …
British Airways, pilots’ union agree pay deal – FT Read More »
LONDON (Reuters) – The Bank of England said on Tuesday the first sale of gilts held in its asset purchase facility would take place on Nov. 1 in light of the government’s plan to make a fiscal announcement on the previously planned date of Oct. 31. “The first gilt sales operation was scheduled to take …
Bank of England says first gilt sales to be held on Nov. 1 Read More »
LONDON (Reuters) – New British finance minister Jeremy Hunt and Defence Secretary Ben Wallace have held initial discussions about keeping the government’s defence spending target at 3% of GDP by 2030, armed forces minister James Heappey said on Tuesday. Asked during an interview on Times Radio about Hunt’s comments that everything should be on the …
Everyone in UK govt clear 3% defence spending by 2030 necessary -minister Read More »
LONDON (Reuters) – Britons are spending more nights in, taking packed lunches to work and eschewing new clothes and treats to ensure they can cover rising energy bills this autumn and winter, according to data from Barclaycard published on Tuesday. While the UK government is subsidising energy bills for households until April next year, the …
Nights in and packed lunches – Britons seek savings to cover energy bills Read More »
LONDON (Reuters) – Britain’s markets watchdog curbed activities of twice as many consumer investment firms in the last financial year as the previous year, it said on Tuesday, as it seeks to clamp down on poor financial advice and scams. The restrictions included preventing firms from promoting and selling certain products or providing specific services …
Britain’s markets watchdog ups curbs on retail investment firms Read More »
LONDON (Reuters) – Britain’s Prime Minister Liz Truss apologised for “mistakes” in her programme that caused investor confidence to evaporate and her poll ratings to plunge before nearly all of it was finally shredded on Monday, but said she would not step down. “I do want to accept responsibility and say sorry for the mistakes …
UK’s Truss: ‘Sorry’ for the mistakes, but ‘I’m sticking around’ Read More »
LONDON (Reuters) -Britain’s new finance minister Jeremy Hunt said on Monday he was forming an Economic Advisory Council to provide him with “independent expert advice” as he tries to lead the economy out of a crisis of confidence among investors. Hunt said the council would comprise Rupert Harrison, who was a top aide to former …
UK finance minister Hunt sets up expert council to advise him Read More »
By William Schomberg, Kylie MacLellan and Elizabeth Piper LONDON (Reuters) – Britain’s new finance minister Jeremy Hunt scrapped Prime Minister Liz Truss’s economic plan and scaled back her vast energy support scheme on Monday, making a historic policy U-turn to try to stem a dramatic loss of investor confidence. Truss’s spokesman denied that Hunt was …
New UK finance minister Hunt reverses Truss’s economic plan in dramatic U-turn Read More »
LONDON (Reuters) – British Prime Minister Liz Truss met earlier on Monday with lawmaker Graham Brady, who heads up the committee in charge of running Conservative Party leadership contests, The Guardian reported, citing sources from Truss’s office. “Truss was with Sir Graham Brady during Labour’s urgent question in HoC (House of Commons) – as per …
UK PM Truss met with chair of committee in charge of leadership contests – Guardian Read More »
