Reuters UK Domestic

LONDON (Reuters) – Most of England remains in drought and careful management of water resources will be needed throughout the winter, Britain’s National Drought Group said on Wednesday. England had its sixth driest summer on record, according to Met Office data, with drought officially declared in parts of England in August for the first time …

UK must continue to use water wisely as drought remains -drought group Read More »

LONDON (Reuters) – Britain’s government must reform areas such as immigration and climate change to show it really can boost economic growth after it sent markets into a tailspin with a huge tax cuts announcement, the head of an employers group said on Wednesday. “The markets’ reaction this week matters because the markets are lending …

Employers urge UK government to show it really can boost growth Read More »

LONDON (Reuters) – Britain’s central bank resorted to buying bonds again on Wednesday in an emergency move to reduce the chaos in financial markets which was triggered last week by the tax and spending plans of new British Prime Minister Liz Truss. The slump in government bond prices – and the subsequent surge in yields …

Explainer-Why is Bank of England acting again? What next in the UK crisis? Read More »

LONDON (Reuters) – A dramatic upswing in British government bond yields this week triggered calls for cash from defined benefit pension funds, forcing them to slash positions and prompt the Bank of England to mount an emergency 65 billion pound ($69 billion) bond buying programme in an effort to stabilise the market. WHAT ARE DEFINED …

Explainer-Why are Britain’s pension schemes dumping gilts? Read More »

By David Milliken LONDON (Reuters) -The Bank of England stepped into Britain’s bond market to stem a market rout, pledging to buy around 65 billion pounds ($69 billion) of long-dated gilts after the new government’s tax cut plans triggered the biggest sell-off in decades. Citing potential risks to the stability of the financial system, the …

Bank of England to buy 65 billion pounds of UK bonds to stem rout Read More »

By Johann M Cherian, Bansari Mayur Kamdar and Susan Mathew (Reuters) -London’s blue-chip FTSE index erased steep session losses to close higher on Wednesday, while the mid-cap index cut all of its bruising 3% plunge after the Bank of England’s promise of bond purchases lifted sentiment. The BoE said it would buy as many long-dated …

London’s FTSE 100 rises as Bank of England steps in to stabilise markets Read More »

LONDON (Reuters) -Britain’s City Minister Andrew Griffith said on Wednesday that the government was not take responsibility for the turmoil in financial markets that followed a fiscal policy announcement last week. The Bank of England sought to quell a fire-storm in Britain’s bond markets, saying it would buy as much government debt as needed to …

UK City Minister: government not taking responsibility for market chaos Read More »

LONDON (Reuters) – British Prime Minister Liz Truss is standing by her finance minister Kwasi Kwarteng, her office said after his so-called mini budget sent financial markets into turmoil. “The PM and the Chancellor are working on the supply side reforms needed to grow the economy which will be announced in the coming weeks,” a …

UK PM Truss working with finance minister on supply side reforms – spokesman Read More »