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FTSE 100 hits 3-month closing low after new economic plan spooks investors

By Sruthi Shankar (Reuters) -UK’s FTSE 100 hit three-month closing lows on Friday after Britain’s new finance minister Kwasi Kwarteng unveiled historic tax cuts and spending plans to boost the economy, but knocked market sentiment as investor concerns grew over a huge increase in borrowing. Kwarteng announced an economic agenda designed to thrust Britain out …

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Unsolved 2012 murder of British family and cyclist given to French ‘cold case’ teams

PARIS (Reuters) – The unsolved 2012 murder of a British family and a cyclist in the French Alps will now be handled by teams specialising in cracking cold cases, the French Ministry of Justice said on Friday. Iraqi-born British engineer Saad al-Hilli, his wife Ikbal and her mother Suhaila al-Allaf were shot dead in their …

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UK’s finance minister says his economic strategy is not a gamble – BBC

LONDON (Reuters) – Britain’s new finance minister Kwasi Kwarteng said on Friday that the government’s changes to tax, stamp duty and spending were not a gamble. “What was (a gamble) in my view, was sticking to the course we were on,” he told the BBC in an interview after setting out the mini-budget earlier in …

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More than 1,600 bus drivers at London United secure 10% pay rise – union

LONDON (Reuters) – A British workers union said it has secured a 10% pay rise for 1,600 bus drivers at transport company London United after four days of strikes last month led to further talks with the employer. “This was a hard fought victory. By standing together and taking strike action, our members have ensured …

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BoE needs to hike rates next week to calm markets – Deutsche Bank analyst

LONDON (Reuters) – Britain’s central bank needs to make a big inter-meeting interest rate hike as early as next week to calm markets and restore credibility, a Deutsche Bank analyst said on Friday. British bond yields surged by the most in a single day in more than three decades on Friday and the pound slid …

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