LONDON (Reuters) – British finance minister Kwasi Kwarteng said it was a “very good day for the UK” on Friday, after he set out tax cuts and huge increases in borrowing in a statement that floored financial markets, with sterling and British government bonds in freefall. Asked whether the fall in sterling was good for …
UK finance minister declines to comment on fall in sterling Read More »
LONDON (Reuters) -Britain’s main opposition Labour Party criticised the Conservative government’s economic plans on Friday, saying the new prime minister and finance minister were like “two desperate gamblers in a casino” who had run out of ideas. Rachel Reeves, Labour’s finance policy chief, said the fiscal statement, or mini budget, set out by finance minister …
‘Desperate gamble’, Britain’s Labour criticises government economic plans Read More »
By Michelle Nichols and Elizabeth Piper UNITED NATIONS (Reuters) – Britain wants to reach an agreement with the European Union to solve post-Brexit trade to Northern Ireland issues quickly, foreign minister James Cleverly said on Thursday, suggesting a softer approach to what has been an intractable dispute. The stand-off over part of the Brexit agreement …
Britain wants to resolve post-Brexit trade row with EU quickly Read More »
LONDON (Reuters) -Five British prisoners of war released by Russia as part of an exchange with Ukraine have arrived back in Britain and are looking forward to spending time with their families, non-profit organisation Presidium Network said on Thursday. The five are Aiden Aslin, Shaun Pinner, John Harding, Dylan Healy and Andrew Hill. Presidium Network, …
Five UK prisoners released by Russia arrive in Britain Read More »
By James Davey LONDON (Reuters) – Tesco, Britain’s biggest retailer and one of the country’s largest private sector employers, is facing union calls to increase store workers’ pay after several rivals raised hourly rates for a second time this year. Competition to attract and retain staff is heating up in a tight UK labour market …
Britain’s Tesco under pressure to raise staff pay rates after rivals hike Read More »
By Kirstin Ridley and Sinead Cruise LONDON (Reuters) -Britain on Thursday laid out fresh plans to crack down on “dirty money” and organised crime by beefing up the powers of its public registry of companies to make it an active gatekeeper against dubious information. Under the Economic Crime and Corporate Transparency Bill that will be …
Britain to overhaul public company registry in dirty money crackdown Read More »
LONDON (Reuters) – British government bond prices plunged on Thursday in their biggest daily drop since the COVID-19 meltdown of March 2020, reflecting global market moves and bond investors’ unease around the economic plans of Prime Minister Liz Truss. While it was a bad day for major government bond markets around the world following the …
UK gilts suffer biggest collapse since March 2020 meltdown Read More »
By David Milliken and Farouq Suleiman LONDON (Reuters) – The Bank of England raised its key interest rate by half a percentage point to 2.25% on Thursday and said it would continue to “respond forcefully” to inflation as needed, even though the British economy is probably in a shallow recession already. The central bank cut …
Bank of England raises rates to 2.25%, despite likely recession Read More »
LONDON (Reuters) – Surrey won the County Championship for the 21st time and with a game to spare after beating Yorkshire by 10 wickets at The Oval on Thursday. The title was Surrey’s first since 2018 and also the county’s first under head coach Gareth Batty. England batsman Ollie Pope scored 136 off 131 deliveries …
Cricket-Surrey win County Championship for 21st time Read More »
By William James and Muvija M LONDON (Reuters) -British finance minister Kwasi Kwarteng said on Thursday a 1.25 percentage point increase in payroll tax that took effect earlier this year would be reversed from Nov. 6, setting out the timeline for a previously promised move. The announcement preceded a mini budget due on Friday morning …
UK to reverse payroll tax rise from Nov. 6 -Kwarteng Read More »
