Financial market worries over the UK budget appear to ease

LONDON — Worries about this week’s tax-raising U.K. budget within financial markets appeared to ease Friday with the interest rates charged on British debt steadying and the pound rising against most other currencies. In the wake of Wednesday’s budget statement, the first by a Labour government for 14 years, British financial assets have been choppy, […]

Continue Reading

Financial market worries over the UK budget appear to ease

LONDON — Worries about this week’s tax-raising U.K. budget within financial markets appeared to ease Friday with the interest rates charged on British debt steadying and the pound rising against most other currencies. In the wake of Wednesday’s budget statement, the first by a Labour government for 14 years, British financial assets have been choppy, […]

Continue Reading

UK Treasury chief admits business tax rise could lead to lower than anticipated wages

LONDON — U.K. Treasury chief Rachel Reeves conceded Thursday that wages may rise by less than previously thought as a direct result of her budget decision to increase a tax that businesses pay for their employees. On Wednesday, Reeves raised taxes by around 40 billion pounds ($52 billion) and announced more government borrowing to plug […]

Continue Reading

UK Treasury chief admits business tax rise could lead to lower than anticipated wages

LONDON — U.K. Treasury chief Rachel Reeves conceded Thursday that wages may rise by less than previously thought as a direct result of her budget decision to increase a tax that businesses pay for their employees. On Wednesday, Reeves raised taxes by around 40 billion pounds ($52 billion) to plug a hole she claims to […]

Continue Reading

British climate activists sentenced for throwing tomato soup over Van Gogh’s ‘Sunflowers’

LONDON — Two British climate activists were sentenced on Friday for throwing tomato soup over Vincent van Gogh’s “Sunflowers” two years ago, nearly destroying one of the great masterpieces at London’s National Gallery. Phoebe Plummer, 23, received a two-year sentence while Anna Holland, 22, was sent to prison for 20 months. In October 2022, the […]

Continue Reading

British climate activists sentenced for throwing tomato soup over Van Gogh’s ‘Sunflowers’

LONDON — Two British climate activists were sentenced on Friday for throwing tomato soup over Vincent van Gogh’s “Sunflowers” two years ago, nearly destroying one of the great masterpieces at London’s National Gallery. Phoebe Plummer, 23, received a two-year sentence while Anna Holland, 22, was sent to prison for 20 months. In October 2022, the […]

Continue Reading

Bank of England widely expected to hold interest rates despite big US Fed cut

LONDON — The Bank of England is widely expected to announce it is keeping interest rates unchanged later Thursday despite a big cut from the U.S. Federal Reserve, its first since the onset of the coronavirus pandemic more than four years ago. Most economists think that a majority — potentially a small majority — of […]

Continue Reading

Britain’s CEO of scandal-ridden Post Office will step down next year

LONDON — The chief executive of Britain’s scandal-ridden Post Office will step down next year, the company said Wednesday, as criticism mounts over the speed of compensation payments to branch managers wrongly convicted of theft or fraud because of a faulty computer system. Nick Read said it has been a “great privilege” to have been […]

Continue Reading

UK inflation is steady at 2.2% ahead of Bank of England’s next rate decision

LONDON — Inflation in the U.K. held steady at an annual rate of 2.2% in August, with higher air fares offset by lower fuel costs and restaurant and hotel bills, official figures showed Wednesday. The latest reading from the Office of National Statistics means inflation remains just above the Bank of England’s target of 2%. […]

Continue Reading

The UK’s Conservatives eliminate a former interior minister in their leadership vote

LONDON — Priti Patel, who was Britain’s interior minister when Boris Johnson was prime minister, has become the first candidate to be eliminated in the Conservative Party’s leadership election, two months after the party resoundingly lost power following 14 years in office. In a vote open to the party’s lawmakers Wednesday, Patel garnered the support […]

Continue Reading