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Asia stocks fall as global growth concerns mount Asia stocks fell on Wednesday after weak economic data in China and Europe heightened concerns over global growth, while the dollar firmed as investors weighed the outlook for U.S. interest rates. MSCI's gauge of Asia Pacific stocks outside Japan was down 0.5% at 0143GMT. Australia's S&P/ASX 200 fell 0.55% even as second-quarter gross domestic product beat forecasts with a 0.4% rise. The Hang Seng Index and China's benchmark CSI300 Index both opened down about 0.3%. ...
Asia stocks fall as global growth concerns mount
Asia stocks fall as global growth concerns mount
Source: Reuters
6/09/2023 8:45:59 AM
Tata picks Britain for new EV battery plant India's Tata will build an electric vehicle battery plant in Britain, the company and the government said on Wednesday, in a major boost for a car industry in need of domestic battery production to help secure its long-term future. The company said the factory includes an investment of 4 billion pounds ($5.2 billion). Britain's government declined to immediately detail what support it had provided as part of the deal. "Tata Group's multi-billion-pound investment in a ne...
Tata picks Britain for new EV battery plant
Tata picks Britain for new EV battery plant
Source: Accord Fintech
19/07/2023 11:55:55 AM
UK says India trade talks discussing business travel, not broader immigration  Britain will discuss temporary business visas as part of Free Trade Agreement talks with India but any deal will not contain broader immigration commitments or access to Britain's labour market for Indian workers, trade minister Kemi Badenoch said. Britain launched trade talks with India in January last year, and Prime Minister Rishi Sunak has stressed that he won't sacrifice quality for speed in negotiations. Last year interior minister Suella Braverman sparked a row with...
UK says India trade talks discussing business travel, not broader immigration
UK says India trade talks discussing business travel, not broader immigration
Source: Reuters
29/06/2023 6:38:11 PM
India`s carmakers back zero duty on limited British imports under trade deal Indian carmakers have agreed to eliminate import tax on a limited number of vehicles in a trade deal with Britain "if the need arises", according to a document seen by Reuters, offering better access to the world's third-largest automobile market. India currently levies 60% and 100% tax on car imports which will be reduced in a phased manner to 10% by year five but only for a maximum of 46,200 vehicles, according to a proposal made by the country's leading auto lobby grou...
India`s carmakers back zero duty on limited British imports under trade deal
India`s carmakers back zero duty on limited British imports under trade deal
Source: Reuters
15/05/2023 3:02:03 PM
Injured Andy Murray withdraws from Dubai Tennis Championships Britain's Andy Murray has withdrawn from the Dubai Tennis Championships, which will be held from February 27 to March 4, due to a recurring hip injury, the tournament organisers announced on Monday. The former world no. 1 had been drawn against Poland's Hubert Hurkacz in the first round with the potential quarter final face-off with Novak Djokovic. "We regret to inform you that Andy Murray is unable to participate in this year's tournament. Andy has been dealing with a ...
Injured Andy Murray withdraws from Dubai Tennis Championships
Injured Andy Murray withdraws from Dubai Tennis Championships
Source: IANS
27/02/2023 6:07:22 PM
United blue-chip shares index hits a fresh all-time high The UK's blue-chip shares index has hit a fresh all-time high on Wednesday, only days after a previous record was set last Friday, media reports said. The FTSE 100 index rose by almost 1 per cent at the open on Wednesday morning to hit 7,928.03, surpassing the former high of 7,906.58 set on 3 February, The Guardian reported. Before that date it had taken more than four years to surpass the previous high set in May 2018, it added. Global markets have rallied in the first weeks of ...
United blue-chip shares index hits a fresh all-time high
United blue-chip shares index hits a fresh all-time high
Source: IANS
8/02/2023 5:39:50 PM
European shares slide, euro steady as data tees up ECB rate hikes  The euro held near a nine-month high against the dollar on Tuesday, though European stocks eased after regional business activity data reinforced expectations that the European Central Bank (ECB) will raise rates by a further 50 basis points. Euro zone business activity made a surprise return to growth in January, according to a survey - the latest sign that the downturn in the bloc may not be as deep as feared. S&P Global's flash Composite Purchasing Managers' Index (...
European shares slide, euro steady as data tees up ECB rate hikes
European shares slide, euro steady as data tees up ECB rate hikes
Source: Reuters
24/01/2023 6:46:28 PM
United Kingdom wages next year will be at their lowest level since 2006 Brits hoping for a new-year salary bump to offset soaring food and energy costs may be disappointed, media reported. The average British worker's pay in 2023 is expected to fall back to 2006 levels, once inflation is taken into account, according to PwC. Real wages, which factor in inflation, are expected to fall by as much as 3 per cent in 2022 and another 2 per cent in 2023, PwC has predicted in a report on the UK economy, CNN reported. The report confirms that wages have stagn...
United Kingdom wages next year will be at their lowest level since 2006
United Kingdom wages next year will be at their lowest level since 2006
Source: IANS
25/12/2022 1:42:28 PM
India-United Kingdom ties hinge on a Free Trade Agreement in 2023 India and the UK have had a Strategic Partnership since 2004; but this is yet to realise its full potential. Meanwhile, the ties presently hinge on a Free Trade Agreement (FTA). This was supposed to be announced before Diwali, but will now probably happen in 2023. David Cameron as Britain's Prime Minister between 2010 and 2016 greatly desired enhancing relations with India to a "special relationship" - a term applied by London only to the deep understanding with the United St...
India-United Kingdom ties hinge on a Free Trade Agreement in 2023
India-United Kingdom ties hinge on a Free Trade Agreement in 2023
Source: IANS
25/12/2022 10:40:15 AM
How Governments are trying to ease impact of inflation Pandemic-related disruptions to global supply chains and the knock-on effects of Russia's war in Ukraine have driven up prices of energy, commodities and necessities. Here's how governments are trying to help hard-hit consumers and companies: AMERICAS: * Brazil's Senate approved raising the government spending cap, allowing the president-elect's incoming administration to fund an extension of social welfare payments for poor families. Oil giant Petrobras has cut fuel ...
How Governments are trying to ease impact of inflation
How Governments are trying to ease impact of inflation
Source: Reuters
17/12/2022 9:51:28 AM
Stocks and bonds tumble as hawkish central banks dash pivot hopes World stocks were stuck near one-month lows and government bond markets came under fresh selling pressure on Friday, a day after a slew of central banks jacked up interest rates and signalled that the fight to tame inflation was not over yet. Interest rates went up in the euro area, Britain, Switzerland, Denmark, Norway, Mexico and Taiwan on Thursday, following a U.S. rate hike a day before, and central bankers vowed to keep raising rates to bring down prices. This week's hawkish me...
Stocks and bonds tumble as hawkish central banks dash pivot hopes
Stocks and bonds tumble as hawkish central banks dash pivot hopes
Source: Reuters
16/12/2022 8:53:22 AM
Stocks drop as central banks meet after 'higher for longer' Fed view Global shares slid for a second day on Thursday as major central banks deliver their final policy decisions of the year, with the U.S. Federal Reserve signalling that it expected interest rates to stay higher for longer. In Europe, the Swiss National Bank delivered an expected half-point hike that brought rates to a 14-year high of 1%. The franc reversed early losses and rose against the euro as well as the dollar after Chairman Thomas Jordan said the central bank will keep propping up ...
Stocks drop as central banks meet after 'higher for longer' Fed view
Stocks drop as central banks meet after 'higher for longer' Fed view
Source: Reuters
15/12/2022 9:01:40 AM
Asian stocks rose on U.S. inflation relief, but wary of Fed Asian stocks advanced on Wednesday, bonds were firm and the dollar nursed losses after data showed U.S. consumer prices barely rose in November, stoking hopes inflation has peaked and interest rate increases will slow and eventually stop in 2023. Nervousness about policymakers' next moves, though, kept the mood in check ahead of a Federal Reserve meeting later in the day and central bank meetings in Britain and Europe on Thursday. Investors are also turning watchful on the global econo...
Asian stocks rose on U.S. inflation relief, but wary of Fed
Asian stocks rose on U.S. inflation relief, but wary of Fed
Source: Reuters
14/12/2022 9:12:58 AM
New technologies offer nature more accurate health checks In the rivers of the Peruvian Amazon, manatees wallow in the murky water, making them very hard to spot. If you're lucky, says British ecologist Kat Bruce, you might see their nostrils poking out above the surface. A few years ago, she joined conservationists from green group WWF who were travelling a 1,000-km (621-mile) stretch of river to study manatees and other species. "You basically can't survey them apart from by going to communities and asking if they've seen an...
New technologies offer nature more accurate health checks
New technologies offer nature more accurate health checks
Source: Reuters
13/12/2022 9:41:32 AM
United Kingdom trade secretary in Delhi today to discuss Free Trade Agreement Britain Trade Secretary Kemi Badenoch will be in New Delhi from Monday for the sixth round of Free Trade Agreement (FTA) negotiations between the UK and India. Badenoch will meet her counterpart, Indian Minister of Commerce and Industry Piyush Goyal, in person for the first time, aiming to strengthen ties between the two countries and reinvigorate talks on an ambitious bilateral trade deal. She will address both teams of senior negotiators ahead of the sixth round of formal negotiations...
United Kingdom trade secretary in Delhi today to discuss Free Trade Agreement
United Kingdom trade secretary in Delhi today to discuss Free Trade Agreement
Source: IANS
12/12/2022 11:00:16 AM
Russia offers to help India overcome crude price cap Russia is said to have offered to help India overcome the oil price cap, which has been imposed by Western nations on the world's largest country. "In order not to depend on the ban on insurance services and tanker chartering in the European Union and Britain, Deputy Prime Minister of Russia Alexander Novak has offered India cooperation on leasing and building large-capacity ships," reports quoting the Russian embassy in New Delhi said. Novak met Indian Ambassador to Mosco...
Russia offers to help India overcome crude price cap
Russia offers to help India overcome crude price cap
Source: IANS
12/12/2022 9:43:16 AM
UK, Italy, Japan team up for new fighter jet UK Prime Minister Rishi Sunak is set to announce a collaboration between Britain, Italy and Japan to develop a new fighter jet that uses artificial intelligence (AI). According to Sunak, the joint venture aims to create thousands of UK jobs and strengthen security ties, reports the BBC. The nations will develop a next generation fighter, due to enter service in the mid-2030s, that will eventually replace the Typhoon jet. It is hoped the new Tempest jet will carry the latest weapons. ...
UK, Italy, Japan team up for new fighter jet
UK, Italy, Japan team up for new fighter jet
Source: IANS
9/12/2022 2:33:42 PM
UK to be second weakest performer of world's big economies next year The UK will be the second weakest performer among the world's big economies next year as the global economy continues to suffer the knock-on effects of the biggest energy shock in four decades, a leading international institution has warned, according to a medua report. The Paris-based Organisation for Economic Cooperation and Development (OECD) said of the members of the G20 group of leading developed and developing nations, only Russia would suffer a bigger contraction than Britain i...
UK to be second weakest performer of world's big economies next year
UK to be second weakest performer of world's big economies next year
Source: IANS
23/11/2022 10:17:35 AM
Safe-haven dollar gains as traders assess risks from Poland The safe-haven U.S. dollar edged higher against major peers on Wednesday as markets continued to assess news of a Russian-made rocket striking NATO-member Poland, and whether it could lead to an escalation of the Ukraine war. The risk-sensitive Australian dollar and sterling both flipped from small early gains to similar-sized losses as leaders from the United States, Britain, Germany, Japan and other countries met on the sidelines of the Group of 20 meeting in Bali. However, the moves ...
Safe-haven dollar gains as traders assess risks from Poland
Safe-haven dollar gains as traders assess risks from Poland
Source: Reuters
16/11/2022 8:57:23 AM
G20: Partnership to mobilise $20bn for Indonesia's clean energy transition At the Partnership for Global Infrastructure and Investment (PGII) event at the G20 Summit, President Joko Widodo of Indonesia and leaders of the International Partners Group (IPG) of like minded countries, co-led by the US and Japan, on Tuesday launched a Just Energy Transition Partnership (JETP) developed with Indonesia during its G20 Presidency. The landmark partnership, comprising Canada, Denmark, the European Union, France, Germany, Italy, Norway, and Britain, pursues an ambitious and...
G20: Partnership to mobilise $20bn for Indonesia's clean energy transition
G20: Partnership to mobilise $20bn for Indonesia's clean energy transition
Source: IANS
15/11/2022 5:34:50 PM
Indian mining body seeks higher import tax on aluminium, zinc, copper products India's top mining industry body has sought higher import taxes on a slew of metals such as zinc, copper and aluminium to help halt the tide of cheaper imports, especially from China, according to a note sent to the government and seen by Reuters. The government should raise import taxes to 10%-15% on several aluminium products, including scrap to 10% from 2.5%, the Federation of Indian Mineral Industries (FIMI) said in the note addressed to India's Ministry of Finance. India...
Indian mining body seeks higher import tax on aluminium, zinc, copper products
Indian mining body seeks higher import tax on aluminium, zinc, copper products
Source: Reuters
11/11/2022 4:07:51 PM
Global shares rise; Sterling rallies as dollar retreats Wall Street continued its advance on Tuesday as weak data stoked hopes the Federal Reserve will slow its aggressive pace of interest rate hikes and European shares notched a second day of gains as better-than-expected earnings offset economic worries. Sterling rallied to a six-week high as Rishi Sunak became Britain's prime minister, boosting investor sentiment. The U.S. dollar index fell to a three-week low, bolstering commodity prices. U.S. Treasuries jumped after dismal data on h...
Global shares rise; Sterling rallies as dollar retreats
Global shares rise; Sterling rallies as dollar retreats
Source: Reuters
26/10/2022 9:57:54 AM
Crypto industry welcomes Rishi Sunak, a 'champion of fintech'  Indian-origin Rishi Sunak who is set to take charge as the British Prime Minister, shepherded the UK's new crypto ambitions during his tenure as Chancellor. Under former Prime Minister Boris Johnson, he wanted to turn the country into a crypto hub, reports CoinDesk. He helped formulate the Financial Services and Markets Bill, which, if passed into law, could give local regulators sweeping power over the crypto industry. It is likely to begin with bringing asset-driven crypt...
Crypto industry welcomes Rishi Sunak, a 'champion of fintech'
Crypto industry welcomes Rishi Sunak, a 'champion of fintech'
Source: IANS
25/10/2022 11:48:23 AM
Sterling slips amid red-hot inflation, dollar holds at 32-year peak vs yen Sterling weakened on Wednesday after hotter-than-expected consumer price inflation and fears of a deeper recession bolstered expectations of a less aggressive rate hike by the Bank of England in November.   The U.S. dollar held at a 32-year peak against the yen and rose from a two-week trough against a basket of major peers, underpinned by expectations of aggressive U.S. Federal Reserve interest rate hikes.   The British pound GBP=D3 fell 0.6% at 0827 GMT to $1.12500 aft...
Sterling slips amid red-hot inflation, dollar holds at 32-year peak vs yen
Sterling slips amid red-hot inflation, dollar holds at 32-year peak vs yen
Source: Reuters
19/10/2022 9:10:21 AM
Europe edges higher as UK U-turns settle nerves Europe's share, bond and currency markets moved tentatively higher on Monday, helped by relief that's Britain new finance minister had quickly ripped into the unfunded tax cuts that triggered turmoil in UK assets this month. Asia's main markets had struggled overnight but Europe's STOXX 600 made a 0.5% early gain as both the pound and UK government bonds rallied in London. [.EU][/GB][/FRX] Britain's new finance minister Jeremy Hunt is due to make a statement at aroun...
Europe edges higher as UK U-turns settle nerves
Europe edges higher as UK U-turns settle nerves
Source: Reuters
17/10/2022 2:33:50 PM
Britain`s tax backdown bounces stocks and sterling Asian stocks bounced on Tuesday after Britain scrapped bits of a controversial tax cut plan, tentatively improving global market sentiment and rallying bonds and the pound. In trade thinned by holidays in China and Hong Kong, MSCI's broadest index of Asia-Pacific shares outside Japan rose 1%, led by a 2.5% gain in Australia. Japan's Nikkei rose 2.6%. Sterling drifted up to an almost two-week high of $1.1343, making for a bounce now of almost 10% from a record low hit last week a...
Britain`s tax backdown bounces stocks and sterling
Britain`s tax backdown bounces stocks and sterling
Source: Reuters
4/10/2022 8:50:44 AM
British Pound plunge the latest ill omen as stocks slide Sterling slumped to a record low on Monday, prompting speculation of an emergency response from the Bank of England, as confidence evaporated in Britain's plan to borrow its way out of trouble, with spooked investors piling into U.S. dollars. The carnage was not confined to currencies, as concerns that high interest rates could hurt growth also knocked Asian shares to a two-year low, with demand-sensitive stocks such as Australia's miners and carmakers in Japan and Korea hit hard. ...
British Pound plunge the latest ill omen as stocks slide
British Pound plunge the latest ill omen as stocks slide
Source: Reuters
26/09/2022 12:10:15 PM
Dollar off 20-year peak as Fed headlines big central bank week  The dollar lingered near a two-decade top on major peers on Monday, ahead of a week loaded with market holidays and central bank decisions from Washington to London and Tokyo. The dollar index, which measures the currency against six counterparts, was 0.2% stronger than Friday at 109.84, consolidating after a volatile couple of weeks that took it as high as 110.79 on Sept. 7 for the first time since mid-2002. Investors have scrambled to price in higher U.S. interest rates and a st...
Dollar off 20-year peak as Fed headlines big central bank week
Dollar off 20-year peak as Fed headlines big central bank week
Source: IANS
19/09/2022 10:50:45 AM
Oil edges up from seven-month low as Russia threatens export halt Crude prices edged up about 1% on Thursday after dropping to a seven-month low in the prior session as some technical traders bought the dip and Russia threatened to halt oil and gas exports to some buyers. That price increase came despite a surprise build in U.S. crude inventories, news that the United States was weighing the need for more crude releases from strategic reserves and concerns China's COVID-19 lockdown extensions and rising global interest rates would slow economic activ...
Oil edges up from seven-month low as Russia threatens export halt
Oil edges up from seven-month low as Russia threatens export halt
Source: Reuters
9/09/2022 10:12:00 AM
World stocks kick off August at 7-wk high, U.S. futures on back foot  World stocks hit seven-week highs on Monday, buoyed by recent strong corporate earnings and declining expectations for hefty interest rate rises, though U.S. index futures were indicating a lower start to August at the Wall Street open. Over the past month, global shares have gained 7%, the S&P 500 jumped 9% and bond markets rallied as investors started to look for a peak in official interest rates, given slowing economic growth. Markets have gathered steam after comments on t...
World stocks kick off August at 7-wk high, U.S. futures on back foot
World stocks kick off August at 7-wk high, U.S. futures on back foot
Source: Reuters
1/08/2022 2:37:54 PM
Britain`s inflation hits fresh 40-year high as fuel, food prices surge Amid rising prices for motor fuels and food, Britain's Consumer Prices Index (CPI) rose by 9.4 per cent in the 12 months to June, hitting a fresh 40-year high, official statistics showed on Wednesday. On a monthly basis, the country's CPI rose by 0.8 per cent in June 2022, compared with a rise of 0.5 percent in June 2021, according to the Office for National Statistics (ONS). The increase in annual inflation was driven by rising fuel and food prices, and these were only slightly...
Britain`s inflation hits fresh 40-year high as fuel, food prices surge
Britain`s inflation hits fresh 40-year high as fuel, food prices surge
Source: IANS
20/07/2022 5:27:54 PM
Euro just off two-decade low, volatility at highest since March 2020 The euro edged higher on Thursday, supported by rising risk appetite but still within striking distance of its two-decade low as surging energy prices fuel recession fears. Meanwhile, implied volatility in the forex market was still at its highest levels since late March 2020 at 11.2%, reflecting a nervous market while investors look at the parity between the single currency and the dollar. Equities managed gradual gains on Thursday as investors grappled with the risks of a recession an...
Euro just off two-decade low, volatility at highest since March 2020
Euro just off two-decade low, volatility at highest since March 2020
Source: Reuters
7/07/2022 1:44:48 PM
Britain's retail inflation soars to highest since 2011 Britains retail inflation has accelerated to 2.8 per cent in May, up from 2.7 per cent in April, marking the highest spike since July 2011, an industry report said. Food inflation hit 4.3 per cent in May, up from 3.5 per cent in April, and is the highest since April 2012, Xinhua news agency quoted the report released by the British Retail Consortium as saying. Retail prices edged up further as commodity, energy and transport costs continued to climb, noted Helen Dickinson, chief executi...
Britain's retail inflation soars to highest since 2011
Britain's retail inflation soars to highest since 2011
Source: IANS
2/06/2022 11:45:08 AM
Britain, India agree to expand defence, trade ties NEW DELHI - Britain and India signed a new defence cooperation agreement on Friday and will look to complete a free trade deal by the end of the year, their leaders said after a meeting in New Delhi. UK Prime Minister Boris Johnson said Britain will also help India build its own fighter jets.   (Reporting by Andrew MacAskill; editing by John Stonestreet)
Britain, India agree to expand defence, trade ties
Britain, India agree to expand defence, trade ties
Source: Reuters
22/04/2022 2:06:38 PM
Factbox-Who is buying Russian crude oil and who has stopped Australia, Britain, Canada and the United States have imposed outright bans on Russian oil purchases following Moscow's invasion of Ukraine, but the European Union remains divided. The bloc's 27 members have been unable to agree on an embargo, with Germany warning against hasty steps that could push the economy into recession, and some countries, such as Hungary, opposing any bans. Germany, however, aims to phase out Russian oil imports by the end of this year, officials said, a...
Factbox-Who is buying Russian crude oil and who has stopped
Factbox-Who is buying Russian crude oil and who has stopped
Source: Reuters
6/04/2022 7:40:16 PM
New Zealand signs free trade deal with Britain New Zealand and Britain signed a Free Trade Agreement (FTA) on Tuesday that unlocks unprecedented access to the British market and accelerates New Zealand's Covid-19 recovery, said New Zealand Prime Minister Jacinda Ardern. "Virtually all our current trade will be duty-free from entry into force, including duty-free quotas for key products like meat, butter and cheese, helping to accelerate our economic recovery," Ardern said in a statement. The deal will boost New Zealand...
New Zealand signs free trade deal with Britain
New Zealand signs free trade deal with Britain
Source: IANS
1/03/2022 2:01:48 PM
India, Britain launch free trade agreement talks NEW DELHI  - India and Britain formally launched trade talks in New Delhi on Thursday, seeking freer movement of goods and people with a deal projected to increase bilateral trade by billions of pounds. Indian trade minister Piyush Goyal met his British counterpart Anne-Marie Trevelyan. Goyal said both countries will look to conclude an early harvest deal before finalising a free trade agreement.
India, Britain launch free trade agreement talks
India, Britain launch free trade agreement talks
Source: Reuters
13/01/2022 2:54:24 PM
Oil prices rise as U.S. fuel demand jumps despite virus surge By Jessica Jaganathan SINGAPORE  -Oil prices rose on Thursday as U.S. implied consumer petroleum demand surged to a record high in the world's top oil consumer, even as the Omicron variant of the coronavirus threatens to dent oil consumption globally. A signal by the U.S. Federal Reserve to tackle inflation before it derails the U.S. economy also boosted prices. Brent crude oil futures rose by 72 cents, or 1%, to $74.60 a barrel by 0752 GMT, while U.S. West Texas Intermediat...
Oil prices rise as U.S. fuel demand jumps despite virus surge
Oil prices rise as U.S. fuel demand jumps despite virus surge
Source: Reuters
16/12/2021 1:55:04 PM
Britain puts military on standby as panic buying leaves pumps dry LONDON - Britain put the army on standby to deliver fuel from Tuesday after an acute shortage of truckers triggered panic buying that left fuel pumps dry across the land and raised fears that hospitals would be left without doctors and nurses. Queues of drivers snaked back from those petrol stations that were still serving in major cities, though dozens of forecourts were closed with signs saying that their petrol and diesel had run dry, Reuters reporters said. A post-Brexit shortage of...
Britain puts military on standby as panic buying leaves pumps dry
Britain puts military on standby as panic buying leaves pumps dry
Source: Reuters
28/09/2021 2:12:03 PM
Britain's GDP growth stalls amid Covid surge Britain's gross domestic product (GDP) is estimated to have grown only by 0.1 per cent monthly in July, 2.1 per cent lower than its pre-pandemic level in February 2020, the Office for National Statistics (ONS) said. The service output remained broadly flat in July following the strong growth of 1.5 per cent in June, whereas output in the production sector increased by 1.2 per cent and the construction sector decreased by 1.6 per cent, Xinhua news agency quoted the ONS as saying on Frid...
Britain's GDP growth stalls amid Covid surge
Britain's GDP growth stalls amid Covid surge
Source: IANS
11/09/2021 1:36:09 PM
UK watchdog opens investigation into PwC audit of Wyelands Ban LONDON - Britain's accounting regulator said on Monday it has begun an investigation into how PwC audited the accounts of Wyelands, the bank owned by steel tycoon Sanjeev Gupta's metals-to-finance empire GFG Alliance. Wyelands financed GFG Alliance, which was closely linked to financing company Greensill Capital, which went bust earlier this year. The Financial Reporting Council said it has started the investigation into PwC, one of the world's Big Four auditors, in relation...
UK watchdog opens investigation into PwC audit of Wyelands Ban
UK watchdog opens investigation into PwC audit of Wyelands Ban
Source: Reuters
28/06/2021 11:51:15 AM
Goldman Sachs expands transaction bank to Britain LONDON  - Goldman Sachs has launched its transaction bank in Britain, the firm said Monday, expanding the business after launching in the United States last year as it looks for steadier sources of revenue beyond its investment bank. The bank is to offer companies in Britain cash management services such as payment processing and payroll as it continues to grow in the country having launched its retail brand Marcus there in 2018. Goldman Sachs said its transaction banking business ...
Goldman Sachs expands transaction bank to Britain
Goldman Sachs expands transaction bank to Britain
Source: IANS
21/06/2021 11:53:38 AM
M&S profit seen crashing 90% in LONDON - Britain's Marks & Spencer is set to report on Wednesday a 90% slump in full-year profit after the COVID-19 pandemic hammered its clothing sales. Analysts on average expect the 137-year old M&S, one of the best known names in British retail, to report a pretax profit before one-off items of 43 million pounds ($61 million) for its year to April 3, down from 403 million pounds in 2019-20. That outcome follows the group reporting in November a first half loss - its...
M&S profit seen crashing 90% in
M&S profit seen crashing 90% in "lost year" of pandemic
Source: Reuters
22/05/2021 9:58:26 AM
Britain's BT to build fibre 'like fury' after regulator's greenlight LONDON - Britain's BT said it would roll out fibre broadband to 20 million homes and businesses this decade after the regulator allowed flexibility on pricing needed to underpin the 12 billion pound ($16.8 billion) cost of the plan. Chief Executive Philip Jansen said on Thursday it was "the greenlight we've been waiting for to get on and build like fury". "Full fibre broadband will be the foundation of a strong BT for decades to come and a shot in the arm for t...
Britain's BT to build fibre 'like fury' after regulator's greenlight
Britain's BT to build fibre 'like fury' after regulator's greenlight
Source: Reuters
18/03/2021 3:19:55 PM
UK economy shrank by less than feared in January, trade hit by Brexit LONDON - Britain's economy shrank by less than feared in January as the country went back into a coronavirus lockdown, official data showed, but trade with the European Union was hit hard at the start of the country's new, post-Brexit trading relationship. Gross domestic product in January was 2.9% lower than in December, the Office for National Statistics said. Economists polled by Reuters had expected a contraction of 4.9%. Britain's economy is likely to shrink by 4% in...
UK economy shrank by less than feared in January, trade hit by Brexit
UK economy shrank by less than feared in January, trade hit by Brexit
Source: Reuters
12/03/2021 2:13:09 PM
UK starts probe on Apple's alleged anti-competitive behaviour Britain's competition regulator said on Thursday it has opened an investigation into Apple Inc after complaints that the iPhone maker's terms and conditions for app developers are unfair and anti-competitive. The Competition and Markets Authority said the investigation will consider whether Apple has a dominant position in the distribution of apps on Apple devices in the UK. Apple charges a commission of up to 30% to developers on the value of transactions or any time a consumer...
UK starts probe on Apple's alleged anti-competitive behaviour
UK starts probe on Apple's alleged anti-competitive behaviour
Source: Reuters
4/03/2021 4:21:41 PM
Investors warn CEOs on pay and perks ahead of UK AGM season LONDON - After taking billions of pounds in government money and furloughing staff during the pandemic, Britain's blue-chip companies are being warned by investors to rein in executive pay and perks or risk a rebellion at upcoming annual meetings.     The push-back comes as companies in sectors from hospitality to travel grapple with a collapse in revenues while trying to incentivise their top staff to stay and help lead a recovery. Among the most contentious pay prop...
Investors warn CEOs on pay and perks ahead of UK AGM season
Investors warn CEOs on pay and perks ahead of UK AGM season
Source: Reuters
12/02/2021 5:07:31 PM
Exports from UK to EU down 68% since Brexit trade deal, say hauliers LONDON - Exports from Britain to the European Union fell by 68% in January as trade was disrupted after the end of a transition period following Britain's departure from the European Union, according to a trade body representing hauliers. The government did not confirm the data and said disruption at the border had been minimal since Britain completed its journey out of the EU's orbit at the of 2020 following an agreement on trading arrangements. Since the start of the year...
Exports from UK to EU down 68% since Brexit trade deal, say hauliers
Exports from UK to EU down 68% since Brexit trade deal, say hauliers
Source: Reuters
8/02/2021 9:51:55 AM