Number of BBC bosses on salaries over 150,000 pounds rises despite promise to cut

LONDON - The number of senior managers at the BBC earning more than 150,000 pounds ($192,555) a year has risen despite a promise by the publicly-funded broadcaster to cut the figure by a fifth, Britain's spending watchdog said on Wednesday.

The National Audit Office said there were 98 members of staff earning such salaries in March 2016 compared to January 2012 wh

Banks boost Britain's FTSE as French election ignites risk-on rally

LONDON  - Britain's top share index jumped on Monday as banking stocks surged after centrist Emmanuel Macron came out on top in the first round of France's presidential election.

The blue chip FTSE 100 index rose 1.9 percent to 7,246.34 points by 0857 GMT, on track for its biggest one-day jump since early December 2016 and outpacing the mid caps which wer

Luxury shoe brands Jimmy Choo and Bally put up for sale

LONDON - British luxury retailer Jimmy Choo has put itself up for sale to try to maximise shareholder value as majority investor JAB increases its focus on consumer goods.

JAB Luxury also said on Monday it was reviewing its ownership of Bally International, the Swiss luxury footwear and accessories company, clearing the way for a possible sale of that business too.

Analysis - Brexit makes campsites cool again as Britons tighten belts

By Kate Holton and William Schomberg

NEWTON FERRERS, England/LONDON - Before last year's Brexit vote, Scott McCready was struggling to fill his holiday cabins on the coast of southwest England. Now the site is fully booked with British tourists avoiding more expensive foreign trips following a plunge in the pound.

This turnaround in the

Tesco defends Booker deal after profit beats forecasts

LONDON - Tesco, Britain's biggest retailer, beat forecasts for annual profit as its recovery gained pace, potentially strengthening the hand of boss Dave Lewis as he seeks investor backing for his plan to buy wholesaler Booker.

Tesco wanted the results, published on Wednesday, to reinforce its case that it can make a success of buying Booker in a 3.7 billion pound

Brexit to trigger UK farm policy overhaul and EU funding gap

By Nigel Hunt

LONDON  - Britain is expected to radically overhaul agricultural policy after it leaves the European Union and the bloc may have to make changes too when it loses Britain's net contributions to the region's farming budget.

For the first time in decades, farmers in Britain will have to fight for a slice of government funds with depa

Bank of England`s Carney calls for UK-EU deal on bank rules after Brexit

By David Milliken, Huw Jones and Alessandra Galloni

LONDON - Bank of England Governor Mark Carney called on Friday for Britain and the European Union to reach a sweeping deal to recognise each others' bank rules after Brexit, or risk a potentially damaging hit to financial services across Europe.

Speaking at Thomson Reuters' London office, Carney sai

UK industrial output shrinks unexpectedly in February , adding to signs of slowdown

LONDON  - British industrial output fell unexpectedly in February and manufacturers struggled, according to official data on Friday that added to signs economic growth may have slowed as Britain prepares to leave the EU.

Industrial output fell 0.7 percent in February, worse than all forecasts in a Reuters poll of economists that pointed to a 0.2 percent increase

Bank lobby warns of market ructions if Brexit talks stumble

LONDON  - Europe's banking lobby warned on Wednesday of the dangers to wholesale banking and financial stability if negotiations over Britain's exit from the European Union end in deadlock.

"Financial stability and market efficiency must be safeguarded during the Brexit implementation process and thereafter," the Association for Financial Market

Post Brexit, UK aims to deepen trade ties with India

India and the UK on Tuesday discussed the possibility of a new trade pact as Britain looks to build on its bilateral business ties after its exit from the European Union, as per the media reports. As Britain's top financial policymakers began a 2-day visit to India, a free trade agreement (FTA) figured during talks at the 9th UK-India Economic and Financial Dialogue, said the PTI report.

UK's Hammond says government looking at range of Brexit outcomes

LONDON - Britain's finance minister Philip Hammond said on Tuesday that the government was looking at a range of potential outcomes for forthcoming Brexit talks, but declined to say if his department had conducted a detailed economic analysis.

Earlier on Tuesday a parliamentary committee said the government should justify Prime Minister Theresa May's view that

India, Britain talk up post-Brexit trade prospects

By Manoj Kumar and Douglas Busvine

NEW DELHI - India and Britain on Tuesday talked up their prospects of developing a new trading relationship, as their finance ministers met to prepare for the United Kingdom's exit from the European Union.

British finance minister Philip Hammond flew in to New Delhi for talks with Indian counterpart Arun Jaitley, d

Spain eases opposition to an independent Scotland in European Union

By Jesús Aguado

MADRID - Spain, at loggerheads with Britain over Gibraltar, appears to be easing its opposition to an independent Scotland in the European Union, saying it would not block such a move at least initially.

The Scottish independence drive -- now resuscitated by the prospect of Britain's departure from the EU -- is highly controversial

Britain's Ofcom plans to cut some BT wholesale broadband prices

By Paul Sandle

LONDON  - Britain's telecoms regulator said on Friday it plans to cut the wholesale price that network operator BT can charge other service providers for "superfast" broadband connections with download speeds of up to 40 Mbits per second, to encourage investment in faster services.

Ofcom said it expected the lower charges to

UK launches tax evasion, laundering probe into unnamed global financial institution

LONDON - Britain said on Friday it had launched an investigation into suspected tax evasion and money-laundering by an unnamed "global financial institution" and some of its employees.

"The first phase of the investigation, which will see further, targeted, activity over the coming weeks, is focused on senior employees from within the institution, along

UK recoups taxpayer funds in $15 billion Bradford & Bingley loans sale

By Rachel Armstrong and Dasha Afanasieva

LONDON  - Britain has sold a portfolio of mortgages issued by failed lender Bradford & Bingley for 11.8 billion pounds to insurer Prudential and buyout firm Blackstone in one of the biggest deals of its kind.

The British government forecast this month that it will make a 23.5 billion pound loss on the cost of

Gold posts best quarter in a year amid political uncertainty

By Devika Krishna Kumar and Peter Hobson

NEW YORK/LONDON  - Gold notched a quarterly gain of about 8.4 percent on Friday, marking its best quarter in a year, as uncertainty over U.S. President Donald Trump's tax and investment plans and elections in Europe fuelled demand for bullion as a safe haven.

Gold rebounded from early losses as the dollar tur

France can reap rewards from Brexit, elections - business lobby chief

By Simon Carraud and Emmanuel Jarry

PARIS  - The head of the main French bosses' group expects an investment boost from the election of either Francois Fillon or Emmanuel Macron as president in May as companies with spending on hold for the result combine with a Brexit-led influx.

MEDEF chief Pierre Gattaz said, however, that an unexpected win by Marine Le Pen, the

Lloyd's of London chooses Brussels for European Union base on strong regulation

By Carolyn Cohn

LONDON - Insurance market Lloyd's of London, an integral part of the British business scene since the 17th century, has chosen Brussels as the site for its European Union subsidiary because of its strong regulatory framework, it said on Thursday.

Lloyd's has been one of the most vocal financial services firms about the need for an EU

Brexit's cliff edge: 'business as usual' not an option

By Tom Miles

GENEVA  - Failure to strike a trade deal with the European Union by a two-year deadline would force Britain to adopt World Trade Organization arrangements, bringing with it a host of new negotiations and complications.

In a nutshell, Britain would have to treat everyone the same, whether it wanted to or not, from Russian exporters to Brazil

'Indo-British official group discussing free trade agreement'

With Britain set to launch the formal process of its exit from the EU on Wednesday, a prominent British entrepreneur has said that a joint working group of officials from both countries is working on an India-UK free trade agreement to be signed once it exits the EU in two years time.

"One of the very important steps forward of Theresa May's (India) visit last November was th

Banks try to calm staff nerves with staggered Brexit shift

By Anjuli Davies

LONDON- Banks are treading carefully, enacting two-stage contingency plans, to avoid losing nervous London-based staff as they work out how many jobs will have to move to continental Europe as Britain exits the European Union.

British Prime Minister Theresa May will trigger formal EU divorce proceedings on Wednesday, launching two years of n

Bank of England to check banks ready for disorderly Brexit

By David Milliken and Huw Jones

LONDON  - Britain-based banks should take steps to ensure they do not have to curb lending suddenly if the country leaves the European Union in a disorderly way, the Bank of England said on Monday as Prime Minister Theresa May prepares to start Brexit talks.

May has said she is prepared to walk away from the Brexit talks

Gulf Arab states push for UK free trade deal after Brexit - officials

By Tom Finn

DOHA  - Gulf Arab states are pressing for an early deal on free trade with Britain to secure preferential arrangements after Brexit, and could have a draft agreement ready within months, Gulf officials say.

Britain cannot formally sign trade agreements while it remains a member of the European Union, but the British government has said it is