By William Schomberg and Andy Bruce LONDON (Reuters) – Britain’s economy is struggling under the strain of two major risks in the form of double-digit inflation and a possible recession, leaving the Bank of England in a dilemma about how much further it should raise interest rates. The BoE has raised borrowing costs five times …
UK economy faces double threat of inflation surge, recession risk Read More »
(Reuters) – British discount retailer B&M on Wednesday reiterated its outlook for fiscal 2023 core profit and reported a dip in first-quarter group sales, reflecting a tough comparison with a year-ago period when consumers stocked up during lockdowns. The FTSE 100-listed firm, which sells everything from food to homeware, gardening and do-it-yourself products, said its …
British retailer B&M’s sales drop in first quarter Read More »
(Reuters) -Britain’s energy regulator proposed a spending package of 20.9 billion pounds ($25.48 billion) on Wednesday, including 2.7 billion pounds in upfront funding, as part of an initial five-year plan for sustainable and affordable regional energy grids. The plan will boost grid capacity, improve customer service and resilience to prevent power outages, Ofgem said. It …
UK’s energy regulator proposes package to boost grid capacity Read More »
LONDON (Reuters) – Defence minister Ben Wallace said on Wednesday that Britain will need to bolster its spending on defence if it wanted to maintain a global leadership role after 2024, when his department’s current budget allocation will be reviewed. “If Britain wants to maintain this leadership role post-2024 we’re going to have to see …
UK needs more defence spending to maintain leadership role – defence minister Read More »
(Reuters) – British cleaning products maker McBride said on Wednesday its bank had waived debt covenant tests until September, as the loss-making group grapples with rising costs and supply chain challenges. The maker of Oven Pride, which has an available liquidity of about 75 million pounds ($91.38 million) as of June 28, said it had …
Oven Pride maker McBride gets debt waivers as supply chain woes bite Read More »
By Luc Cohen and Brendan Pierson NEW YORK (Reuters) -Ghislaine Maxwell was sentenced to 20 years in prison on Tuesday for helping the sex offender and globetrotting financier Jeffrey Epstein sexually abuse teenage girls, in what a judge called a “horrific scheme” that inflicted “incalculable” harm on victims. The British socialite, 60, was convicted in …
Ghislaine Maxwell sentenced to 20 years for ‘horrific’ sex trafficking Read More »
LONDON (Reuters) – British retailers raised prices at the fastest pace since 2008 this month, driven by the rapidly rising cost of food, according to industry data that showed the extent of the inflation squeeze for households. The British Retail Consortium (BRC) said on Wednesday that average prices among its members in early June were …
UK shop prices jump by the most since 2008 – BRC Read More »
By Huw Jones LONDON (Reuters) – Issuers of bonds that raise cash for “green” projects should voluntarily apply industry standards to avoid hoodwinking investors, Britain’s Financial Conduct Authority (FCA) said on Wednesday. Bonds whose proceeds are used to finance sustainable activity passed the $1 trillion mark globally last year for the first time, the FCA …
Britain starts building ‘guard rails’ for green bonds Read More »
(Reuters) -Britain’s defence spending is projected to reach 2.3% of its GDP this year due to increased military support for Ukraine amid Russia’s invasion of that country, the government said in a statement late on Tuesday. The estimate came after UK defence minister Ben Wallace called for more funding, saying Britain must bolster its defence …
UK defence spending projected to reach 2.3% of GDP this year Read More »
By Gabriel Araujo SAO PAULO (Reuters) -Lewis Hamilton called for action to change “archaic mindsets” after a racist remark about him by Brazilian triple champion Nelson Piquet emerged on social media, triggering widespread condemnation. In a Brazilian interview on YouTube in November, Piquet, 69, used a racial slur in Portuguese when referring to the seven-time …
Motor racing-Hamilton calls for action amid storm over racist Piquet comment Read More »
