LONDON (Reuters) – Britain faces its largest rail strike in decades on Saturday as tens of thousands of workers across three trade unions walk out in disputes over pay and job security, shutting down most of the nation’s railway network. The strikes are the latest in a year marked by widespread labour unrest in Britain, …
Fresh strikes set to paralyse British rail network Read More »
By David Milliken LONDON (Reuters) -Ratings agency Standard & Poor’s cut the outlook for its AA credit rating for British sovereign debt on Friday to “negative” from “stable” as it judged Prime Minister Liz Truss’s tax cut plans would cause debt to keep rising. Finance minister Kwasi Kwarteng announced around 45 billion pounds ($50 billion) …
By Yoruk Bahceli (Reuters) – Investors have dumped UK assets after the British government announced plans for a huge rise in borrowing to fund tax cuts, but Germany has not suffered the same punishment despite a vast borrowing spree of its own. Germany has unveiled a 200 billion euros ($196.10 billion)package funded by new borrowing …
A tale of two borrowers: investors punish Britain but spare Germany Read More »
LONDON (Reuters) – The Pension Protection Fund, a lifeboat fund for the pension schemes of troubled companies, has kept all its liabilities hedged, without the need to sell assets, its chief investment officer said on Friday. “Members of the PPF, and those in schemes protected by us, can be reassured that despite the current market …
UK lifeboat pension fund has kept liabilities hedged – CIO Read More »
By William Schomberg LONDON (Reuters) – Prime Minister Liz Truss and her finance minister Kwasi Kwarteng want to kick Britain’s economy into a faster growth gear to help fund the tax cuts that sent financial markets into a tailspin. They plan to outline soon how they will overhaul Britain’s complex planning system, the rules that …
Factbox-Truss prepares her bonfire of the regulations in bid to boost UK growth Read More »
LONDON (Reuters) – British Foreign Secretary James Cleverly said on Friday he had discussed shared issues with European Commission vice-president Maros Sefcovic including the Northern Ireland Protocol, a contentious trade issue between the European Union and Britain. “We agreed we want to look for solutions to protect the Belfast (Good Friday) Agreement. We will speak …
British, EU officials discuss N.Ireland protocol Read More »
By Elizabeth Piper and Andrew MacAskill LONDON (Reuters) – British Prime Minister Liz Truss heads to her Conservative Party conference next week with a packed diary of “meet and greets” to try to win over lawmakers angry over an economic plan that triggered market chaos and badly eroded support. Less than a month into her …
Trust me, UK’s Truss pursues charm offensive at her party conference Read More »
LONDON (Reuters) – The website of Britain’s MI5 domestic spy service was briefly hit by a denial of service attack on Friday, the BBC reported. (Reporting by Kylie MacLellan; editing by Michael Holden)
By Andy Bruce and William Schomberg LONDON (Reuters) – Britain’s economy remained below its pre-pandemic peak, according to data published on Friday that left the country further adrift of other Group of Seven nations and underscored the challenge facing new Prime Minister Liz Truss. The Office for National Statistics said economic output unexpectedly rose by …
UK economy still below pre-pandemic size, underscoring challenge for Truss Read More »
By Jonathan Cable LONDON (Reuters) – The Bank of England won’t raise interest rates before its next scheduled policy announcement on Nov. 3 despite a plummet in sterling but will make big moves in November and December and Bank Rate is now seen peaking much higher, a Reuters poll found. Britain’s central bank stepped in …
Bank of England won’t make emergency rate hike but will go big on Nov 3 – Reuters Poll Read More »
