Economy of the United Kingdom & Politics
overview of the economy of the United Kingdom
Retail sales in Great Britain flatline as households continue to feel squeeze: Shoppers cut back in March, with data likely to increase pressure on Bank of ...
theguardian.com/business/2024/apr/19/retail-sales-in-great-britain-flatline-as-households-continue-to-feel-squeeze
Enrico Letta: Europe's economy is falling behind, 'we can't wait any longer': In an interview with Le Monde, the former Italian prime minister suggests using ...
lemonde.fr/en/economy/article/2024/04/19/enrico-letta-europe-s-economy-is-falling-behind-we-can-t-wait-any-longer_6668853_19.html
Quick Glance: Europe's Economy Falling Behind: Enrico Letta Urges Action
- Former Italian Prime Minister Enrico Letta suggests using European savings for the green and digital transition, pooling 10% of state aid, and initiating a new recovery plan to help the European economy catch up with the US.
- Letta presented his report on the internal market to the EU-27 in Brussels, highlighting that only a minority of companies and citizens in Europe fully benefit from the internal market, leading to the EU lagging behind the US and China.
- European companies underutilize economies of scale in sectors like energy, telecoms, and financial markets within the internal market. The market fragmentation hinders growth and competitiveness against global counterparts.
- Letta advocates for creating a fifth freedom for research, innovation, and skills within the internal market and updating competition rules in strategic sectors to promote European champions and ensure consumer protection.
Revealed: Tory MP allegedly demanded campaign cash to pay ‘bad people’: Mark Menzies, MP for Fylde, used thousands of pounds raised by donors for private ...
thetimes.co.uk/article/tory-mp-mark-menzies-under-investigation-campaign-funds-bhksggpwl
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UK Is Falling Behind US in the Race for AI, BOE’s Haskel Says: The US is leading the UK on AI investments, raising concerns about a widening productivity gap ...
bloomberg.com/news/articles/2024-04-18/uk-is-falling-behind-us-in-the-race-for-ai-boe-s-haskel-says
Thames Water Lenders Face Up to 40% Losses If It’s Nationalized: Some lenders to Thames Water could face losses of as much as 40% in the event that it ends up ...
bloomberg.com/news/articles/2024-04-18/thames-water-lenders-face-up-to-40-losses-if-it-s-nationalized
Paid articlePaid BOE’s Megan Greene Says UK Interest Rates Cuts ‘Not Imminent’: Bank of England policymaker Megan Greene said the UK faces difficult trade-offs over whether to ...
bloomberg.com/news/articles/2024-04-18/boe-s-megan-greene-says-uk-interest-rates-cuts-not-imminent
Thames Water Delays Business Plan Update Scheduled for Friday: Thames Water Utilities Ltd has postponed an update to its business plan originally scheduled for ...
bloomberg.com/news/articles/2024-04-18/thames-water-delays-business-plan-update-scheduled-for-friday
Benja, a baby southern white rhino frolics around its 21-acre paddock in the spring sunshine alongside its mother, Jaseera, at Whipsnade Zoo, north of London ... Show more
No Evidence BOE Decisions Swayed by Elections, Analysis Finds: The Bank of England could cut interest rates twice before the next UK general election ...
bloomberg.com/news/articles/2024-04-18/no-evidence-boe-decisions-swayed-by-elections-analysis-finds
Paid articlePaid Expansion plans require 85,000 more childcare places by September 2025 : Pilot to explore how to repurpose unused school space to increase capacity for funded ...
theguardian.com/education/2024/apr/19/expansion-plans-85000-more-childcare-places-september-2025
EasyJet targets another bumper summer of record profits : Low-cost airline confident about delivering strong performance as Middle East conflict fails to dent ...
ft.com/content/42894f44-0e2f-4415-98b5-ce00570a67d1
Whitehall blueprint for Thames Water nationalisation could see state take on bulk of £15bn debt
theguardian.com/business/2024/apr/18/whitehall-blueprint-for-thames-water-nationalisation-could-see-state-take-on-bulk-of-15bn-debt
Ex-Scottish leader Sturgeon's husband charged with embezzling party funds: Former Scottish leader Nicola Sturgeon's husband Peter Murrell has been charged with ...
reuters.com/world/europe/former-scottish-leader-sturgeons-husband-re-arrested-party-finance-probe-bbc-2024-04-18/
Quick Glance: Police Investigation into SNP Finances: Key Updates
- On Thursday, the re-arrest of Peter Murrell, the husband of Nicola Sturgeon, took place as part of the police investigation into the SNP’s finances.
- Murrell, aged 59, was apprehended and underwent interrogation by detectives.
- The arrest occurred slightly more than a year subsequent to the search conducted by Police Scotland officers at the couple’s residence, where a blue tent was set up outside the property, alongside searches at the SNP’s headquarters in Edinburgh.
- In April 2024, Peter Murrell was charged with 'embezzlement' of funds from the SNP.
Quarter of UK children aged 5-7 own smartphones, regulator finds: Ofcom report reinforces online safety concerns as social media apps show significant growth ...
ft.com/content/e4bd4d99-6109-490e-9020-3a6bf1ce8ad3
Hebrew U prof. arrested after doubting Hamas rapes, saying Israelis ‘should be afraid’
timesofisrael.com/hebrew-u-prof-arrested-after-doubting-hamas-rapes-saying-israelis-should-be-afraid/
UK retail sales stagnate despite easing inflation: British retail sales stagnated in March despite high inflation easing recently, representing the first time ...
reuters.com/world/uk/uk-retail-stagnated-again-march-ons-says-2024-04-19/
Inflation in U.K. Slows to 3.2%, Lowest in More Than 2 Years: As the economy cools, pressure is building on the Bank of England to cut interest rates.
nytimes.com/2024/04/17/business/uk-inflation-economy-interest-rates.html
Quick Glance: Powell Warns of Lack of Progress on Inflation
- Federal Reserve Chair Jerome Powell emphasized that the U.S. economy, while otherwise strong, has not seen a return of inflation to the central bank's target.
- Powell mentioned that the current policy should remain in place as inflation has not declined quickly enough and there has been no further progress towards the 2% goal.
- Since July 2023, the Fed has maintained its benchmark interest rate in a target range between 5.25% and 5.5%, the result of 11 consecutive rate hikes.
- Financial markets have had to adjust their expectations for rate cuts this year as inflation has been higher than expected, and the Fed's policy continues to be dependent on data.
Slow growth, high debt - troubled UK economy awaits election winners: Britain's national election, expected later this year, will take place against a backdrop ...
reuters.com/world/uk/slow-growth-high-debt-troubled-uk-economy-awaits-election-winners-2024-04-19/
Prince Harry Marks Significant Date When Officially Changing Primary Residence to U.S.
time.com/6968443/prince-harry-residency-united-states-official-documents/
Quick Glance: Prince Harry Officially Residing in U.S.
- Prince Harry and his wife Meghan have considered California home, and now his official residency in the U.S. has been documented in a corporate filing.
- The document was filed at Britain’s corporate registrar, Companies House, to update the official residency of the British royal for business records of Travalyst Limited.
- There had been little official confirmation of Harry’s residency status until this week, with an entry indicating a change of residency to June 29, 2023, the day the couple left Frogmore Cottage, their British home.
- It is unclear what type of U.S. visa or residency permit Harry holds, despite efforts by conservative activists in the U.S. to ascertain them, including an ongoing lawsuit.
A pastor vows to fight Satan’s influence at libraries in comic book hero's hometown
nbcnews.com/news/us-news/metropolis-illinois-library-books-battle-superman-rcna148352
BOE Official Warns of ‘Bumpy’ Last Mile in Inflation Fight: Bank of England policy maker Megan Greene said developed economies including the UK face a “bumpy ...
bloomberg.com/news/articles/2024-04-17/boe-official-warns-of-bumpy-last-mile-in-inflation-fight
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Dismissed Trump Juror Says Former President Not As 'Orange' As Expected: A juror identified only as "Kat" told MSNBC, "You know, he looked less orange ...
huffpost.com/entry/trump-juror-kat-looks-less-orange_n_66214e4ee4b0868a1b901ce9
UK PM Sunak to consult on tougher rules to combat 'sick note culture': British Prime Minister Rishi Sunak will look at tightening the rules for long-term sick ...
reuters.com/world/uk/uk-pm-sunak-consult-tougher-rules-combat-sick-note-culture-2024-04-18/
AI optimists crowd out doubters on the TED stage: AI is a "new digital species" that will perfect science and deliver free education, speakers said.
axios.com/2024/04/18/ai-optimists-doubters-ted-conference
Heavy rains in UAE: No cloud seeding done, confirms Met Office: NCM meteorologist urges people not to fall for articles, videos spreading misinformation
gulfnews.com/uae/weather/heavy-rains-in-uae-no-cloud-seeding-done-confirms-met-office-1.1713373843670
Quick Glance: Cloud Seeding and the Record-Breaking Rains in Dubai
- Record-breaking rainfall in the UAE has caused widespread flooding.
- Experts speculate that cloud seeding may have contributed to this unprecedented weather event.
- Cloud seeding is a technique where special salt flares are burned in clouds to stimulate rain.
- While cloud seeding is practiced in many countries, some scientists remain cautious about its long-term impacts.
The UK’s second commercial quantum computer has come online: California-based quantum circuitry company Rigetti has brought a commercially available quantum ...
thenextweb.com/news/uk-second-commercial-quantum-computer-comes-online
Hugh Grant settles privacy case against Sun publisher: Hugh Grant says he could have faced a bill of up to £10m if he had gone to court, even if he had won.
bbc.com/news/entertainment-arts-68834392
Hackers are threatening to publish a huge stolen sanctions and financial crimes watchlist
techcrunch.com/2024/04/18/world-check-database-leaked-sanctions-financial-crimes-watchlist/
UK financial sector seeks stronger accountability of regulators: A new sector-wide body could help ensure that Britain's financial regulators fully comply with ...
reuters.com/world/uk/uk-financial-sector-seeks-stronger-accountability-regulators-2024-04-18/
US, UK announce new sanctions on Iran after missile and drone strike on Israel: The United States and the United Kingdom announced widespread sanctions against ...
scmp.com/news/world/united-states-canada/article/3259534/us-uk-announce-new-sanctions-iran-after-missile-and-drone-strike-israel
Quick Glance: Israeli Push for Sanctions Against Iran Amid ‘Diplomatic Offensive’
- Israel has launched a “diplomatic offensive” against Iran, urging sanctions against the Islamic republic.
- Israeli Foreign Minister Israel Katz has called on 32 countries to impose sanctions on Tehran as Israel considers a military response to Iran’s attack.
- Israeli military sources reported intercepting 99 percent of aerial threats with assistance from the United States and allies, causing only minor damage.
- Tensions are high as Israel ponders its reaction to Saturday's attack while Germany calls for new sanctions related to Iran's drone supply to Russia for use in Ukraine.
Nigeria strikes deal with Shell to supply $3.8 bln methanol project: Nigeria has struck a deal for Shell to supply gas to its proposed $3.8 billion Brass ...
reuters.com/business/energy/nigeria-strikes-deal-with-shell-supply-38-bln-methanol-project-2024-04-18/
UK's 'worst' broadband provider confirmed - is your supplier top or bottom?: Ofcom has released its latest complaints data for the telecoms industry and ...
leicestermercury.co.uk/news/uk-world-news/uks-worst-broadband-provider-confirmed-9234059
Hunt says Thames Water must ‘sort out’ its own issues : Chancellor says UK government will never insure investors against poor decisions
ft.com/content/cfbfb778-205b-41b2-a836-6537f03cc30a
US, UK unveil sweeping sanctions on Iran in response to its attack on Israel: WASHINGTON: The United States and the United Kingdom announced widespread sanctions ...
channelnewsasia.com/world/us-uk-unveil-sweeping-sanctions-iran-after-attack-israel-4275611
Quick Glance: US imposes new sanctions on Iran's drone program
- The United States imposed new sanctions Thursday on sixteen people and two entities associated with Iran’s drone program to punish Tehran for the weekend's attack on Israel.
- The sanctions target executives of an engine manufacturer supplying Iran’s Shahad-131 drones, companies servicing the engines, and individuals providing the drones to Iranian proxy forces in the Middle East.
- Coordinated with European allies, the new sanctions aim to disrupt Iran's missile and drone program and isolate the country globally.
- President Joe Biden emphasized the US commitment to holding Iran accountable, utilizing economic tools to counter Iran's activities, as stated by Treasury Secretary Janet Yellen.
New study: Because of Brexit - Medicines are becoming increasingly scarce in the UK
spiegel.de/wirtschaft/soziales/grossbritannien-wegen-brexit-arzneimittel-werden-immer-knapper-a-78fe1d14-b7f4-4456-8449-a0c56dfae4c3
Prince Harry: US is my primary residence now: The Duke of Sussex informed Companies House of the change in residency last June when he and Meghan were asked to ...
thetimes.co.uk/article/prince-harry-us-is-my-primary-residence-now-ngsxmpdnv
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How would a 'youth mobility scheme' between the UK and EU really work?: The EU and the UK could enter into a 'youth mobility' scheme allowing young ...
thelocal.dk/20240418/how-would-a-youth-mobility-scheme-between-the-uk-and-eu-really-work
Ex-Post Office chair accused of using ‘offensive’ term about job candidate: External review into conduct at state-owned group finds Henry Staunton used ...
ft.com/content/4a52ffe2-c95b-4a55-95e3-6c2d36e2d97b
UK freezes London property linked to Putin ally after ICIJ report - ICIJ: Since Russia invaded Ukraine in 2022, the U.K. government has faced criticism for ...
icij.org/investigations/pandora-papers/uk-freezes-london-property-linked-to-putin-ally-after-icij-report/
Quick Glance: UK Reacts to ICIJ Report on London Property of Putin Ally
- The UK government froze the multimillion-dollar London property roughly a week after the International Consortium of Investigative Journalists unveiled its connection to Igor Komarov and its seemingly untouched status by sanctions against the high-ranking Kremlin official.
- In February, the ongoing relationship between Komarov and the prime central London townhouse on Herbert Crescent, purchased for over $16.5 million through a British Virgin Islands-based shell company he previously managed, was highlighted.
- An update was made on April 5 regarding the Companies House records for Wastom, aligning with the ROE filings.
Money latest: Drivers warned 'psychological shock' coming from petrol prices: The RAC and the AA have said drivers should brace for "tough" times ahead ...
news.sky.com/story/money-blog-news-latest-consumer-financial-inflation-employment-rights-maternity-leave-cost-of-living-13040934
Shell says doing more to rein in global warming is 'unrealistic': It's telling shareholders to vote down a proposal that it bolster its efforts to fight climate ...
qz.com/shell-climate-change-resolution-1851417483
Norway wealth fund backs NatWest plan to buy more state-owned stock: Norway's $1.6 trillion sovereign wealth fund, one of the world's largest investors ...
reuters.com/business/finance/norway-wealth-fund-backs-natwest-plan-buy-more-state-owned-stock-2024-04-18/
Unilever Recalls Magnum Almond Ice-Cream Sticks in UK & Ireland: Unilever Plc is recalling a limited number of its Magnum almond ice-cream sticks in the UK and ...
bloomberg.com/news/articles/2024-04-17/unilever-recalls-magnum-almond-ice-cream-sticks-in-uk-ireland
Prince Harry says travel industry must do more for local communities: Britain's Prince Harry said it was crucial the travel industry did better by the local ...
reut.rs/3xCNkZB
New Bournemouth cycle bridges cost nearly £1.5million: Two cycle bridges installed over a key Bournemouth route late last year cost the taxpayer nearly £1.5m ...
bournemouthecho.co.uk/news/24256872.new-bournemouth-cycle-bridges-cost-nearly-1-5million/
Voting machine company Smartmatic and OANN settle defamation suit : Voting machine company Smartmatic has settled its defamation suit against One America News ...
nbcnews.com/politics/elections/voting-machine-company-smartmatic-oann-settle-defamation-suit-rcna148148
Quick Glance: OAN and Smartmatic Reach Settlement in Defamation Lawsuit
- Voting technology company Smartmatic and the far-right network One America News announced on Tuesday that they have agreed to a confidential settlement of a defamation lawsuit stemming from the outlet's lies about the 2020 presidential elections.
- The settlement followed a lawsuit filed by Smartmatic against OAN in 2021, alleging that the right-wing conspiracy network 'victimized' the company and spread lies about its role in the 2020 elections to boost viewership and revenue.
- OAN previously settled a defamation suit in September with former Dominion executive Eric Coomer, revealing collaboration with individuals to propagate falsehoods about the elections.
- While the Smartmatic case has concluded, OAN still faces another defamation lawsuit from Dominion regarding the dissemination of falsehoods about the 2020 elections.
Bank of England to cut rates in May, Morgan Stanley says, retaining contrarian call
cnbc.com/2024/04/18/bank-of-england-to-cut-rates-in-may-morgan-stanley-says.html
Russia to grow faster than all advanced economies says IMF: The IMF estimates Russia's economy will grow faster than the likes of the US, UK and Germany this ...
bbc.com/news/business-68823399
Renault sent me an £11,000 bill to repair my Zoe heater: The car is just five years old, and now the company seems to be washing its hands of the matter
theguardian.com/money/2024/apr/17/renault-repair-zoe-heater-car
We ask Defence Secretary Grant Shapps if his party has a sleaze problem - as Tory MP Mark Menzies is suspended from the party following accusations of misusing ... Show more #news #politics #uk #toryparty #markmenzies #grantshapps #ukpolitics
What the people of Sudan need from us: One year on, this nightmare war shows no signs of ending
ft.com/content/49e7069a-4953-4180-8e1b-4ebe10ea507f
Sky’s Ed Conway sat down with Chancellor Jeremy Hunt to discuss the UK economy and why he sees cause for optimism. #economy #chancellor #jeremyhunt
Imagine depending on the postman to take you to the shops?
For decades, Royal Mail Post Buses picked up passengers as well as parcels on their rounds in rural ... Show more www.pressandjournal.co.uk/fp/past-times/6426718/royal-mail-post-bus-aberdeenshire-highlands-islands/
Cheapest place to buy olive oil as supermarket prices hit £15: UK shoppers have been left unimpressed by the rising cost of an essential kitchen cupboard item in ...
walesonline.co.uk/news/cost-of-living/buy-cheapest-olive-oil-prices-29005877
Former Tory leader William Hague joins corporate intelligence group Hakluyt: The advisory firm expects to generate revenues of £137mn in its current financial ...
ft.com/content/90e6bfe1-c650-4ec6-9160-3c53b5abb249
Zambian President Hakainde Hichilema has officially handed over 51% of a major copper mining company, 'Mopani', to a Middle East company ... Show more
Minimum unit pricing: Here's how much beer, wine and spirits could cost in Scotland if cost increase agreed
scotsman.com/news/scotland/alcohol-prices-minimum-unit-pricing-scotland-4594809
Met Office gives 'heatwave' verdict as warm weather to continue : High pressure is set to sweep in from the Atlantic bringing light winds and sunshine
devonlive.com/news/uk-world-news/met-office-gives-heatwave-verdict-9229186
UK Inflation: Traders Favor Just One BOE Rate Cut in 2024 After Hot Data: Money markets rushed to trim wagers on the extent of monetary easing by the Bank of ...
bloomberg.com/news/articles/2024-04-17/traders-favor-just-one-boe-cut-in-2024-after-hot-inflation-data
Paid articlePaid UK Inflation Stronger Than Expected on Higher Fuel Prices: Get briefed ahead of your morning calls with the latest UK business headlines, key data and market ...
bloomberg.com/news/newsletters/2024-04-17/uk-inflation-stronger-than-expected-on-higher-fuel-prices-lv3ha2jn
UK Jobs and Pay Data Poses a Dilemma for the Bank of England: Sticky wages and falling vacancies don’t make the Bank of England’s life any easier.
bloomberg.com/news/newsletters/2024-04-16/uk-jobs-and-pay-data-poses-a-dilemma-for-the-bank-of-england
Get ready for some warm weather 🌞 www.mirror.co.uk/news/uk-news/uk-weather-maps-turn-orange-32603308
IMF says outlook for world economy is brighter but still modest by historical standards
pbs.org/newshour/economy/imf-says-outlook-for-world-economy-is-brighter-but-still-modest-by-historical-standards
Quick Glance: IMF upgrades global growth forecast despite risks
- The International Monetary Fund slightly raised its global growth forecast on Tuesday, noting that the economy had proven 'surprisingly resilient' despite inflationary pressures and monetary policy shifts.
- IMF's chief economist, Pierre-Olivier Gourinchas, indicated that the global economy is heading for a 'soft landing,' with risks to the outlook now broadly balanced.
- While advanced economies are expected to lead the growth, dim prospects in China and other major emerging markets could impact global trade partners, according to the report.
- Despite Tuesday's brighter outlook, global growth remains low compared to historical standards, partly due to weak productivity growth and increasing geopolitical fragmentation.
FTSE 100 Live: What's Moving UK Markets, Right Now
bloomberg.com/news/live-blog/2024-04-17/what-s-moving-uk-markets-right-now-markets-today
Next BoE deputy governor sees rate cuts coming into view, but can't say when
reuters.com/world/uk/next-boe-deputy-governor-sees-two-sided-risks-policy-outlook-2024-04-16/
On Tuesday, Dubai was hit with severe flooding after two years' worth of rain fell in just 24 hours — over half a foot, according to the Dubai Meteorological ... Show more
Quick Glance: Dubai Submerged in Floods After Year's Worth of Rain
- More than 142mm of rain soaked Dubai within 24 hours.
- Heavy thunderstorms hit the UAE, pouring over a year's worth of rain on Dubai in just hours.
- Authorities dispatched tanker trucks to pump water off the streets as some homes were inundated, requiring residents to bail them out.
- Rain is uncommon in the UAE, causing flooding due to insufficient drainage systems in many areas.
Dr. Martens stock plunges after dour US revenue outlook : Chunky bootmaker Dr. Martens is warning of a tough year ahead. Dr. Martens shares plunged more than 30% ...
apnews.com/article/dr-martens-stock-revenue-decline-ceo-be84f545f5dbfdf623cba59c5abfea2b
Quick Glance: Dr. Martens: Issues with Chinese Competition
- Weak demand and cheap Chinese competitors impact Dr. Martens.
- Gloomy outlook for 2025 due to weak US demand.
- Lawsuit against Chinese providers Temu and Shein for trademark violations.
- Fashion industry under severe pressure from Chinese competition.
London Rents Rise as Croydon, Greenwich, Harrow Drive Record Increase: London’s long-overlooked outer boroughs helped to drive the pace of rental inflation in ...
bloomberg.com/news/articles/2024-04-17/london-s-overlooked-outer-boroughs-help-drive-record-rent-rise
Paid articlePaid UK's Superdry unveils restructuring plan, equity raise: British fashion chain Superdry launched a restructuring plan on Tuesday that would result in rent ...
reuters.com/business/retail-consumer/uks-superdry-launches-restructuring-plan-announces-equity-raise-2024-04-16/
Tories hold three quarters of worst-hit seats for sewage spills: Conservative MPs face a ‘reckoning at the ballot box’ from voters angry over pollution say ...
thetimes.co.uk/article/tories-hold-three-quarters-of-worst-hit-seats-for-sewage-spills-clean-it-up-scw2kx6z2
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