New PM Rishi Sunak pledges to lead Britain out of economic crisis

Sunak meets King Charles on Tuesday morning Vows to rebuild trust in the country Expected to start forming a cabinet Sunak faces a huge challenge to rebuild stability LONDON, Oct 25 (Reuters) – Rishi Sunak became Britain’s third prime minister in two months on Tuesday and pledged to lead the country out of a profound … Read more

As UK’s Truss fights for her job, new finance minister warns of tough decisions

PM Truss sacked finance minister on Friday New chancellor Hunt warns of tough decisions Ruling Conservatives have slumped in polls Some Conservative lawmakers say Truss will be ousted LONDON, Oct 15 (Reuters) – Britain’s new finance minister Jeremy Hunt said on Saturday some taxes would go up and tough spending decisions were needed, signaling further … Read more

UK’s Truss expected to fire Kwarteng – Times

Kwarteng leaves IMF meeting early Pressure mounts for a U-turn over tax policy Pound, bond prices recovering PM Truss now faces a political fight LONDON, Oct 14 (Reuters) – British Prime Minister Liz Truss will fire her finance minister Kwasi Kwarteng and scrap parts of her economic package, the Times newspaper reported on Friday, in … Read more

Britain bets all on historic tax cuts and borrowing, investors take fright

Register now for FREE unlimited access to Reuters.com Register Kwarteng cuts top rate of income tax in dash for growth Huge increase in UK government debt issuance planned Gilts suffer biggest slump in decades Pound falls to new 37-year low against dollar LONDON, Sept 23 (Reuters) – Britain’s new finance minister Kwasi Kwarteng unleashed historic … Read more

Central banks raise rates again as Fed drives global inflation fight

Rates raised from Britain to Indonesia after Fed moved Investors price in bigger hikes from ECB Japan steps in as yen plummets Emerging market currencies under pressure FRANKFURT/WASHINGTON, Sept 22 (Reuters) – Global central banks continued raising interest rates on Thursday, following the US Federal Reserve in a fight against inflation that is sending shockwaves … Read more

Ban on gas fracking in England lifted in push for energy independence

Register now for FREE unlimited access to Reuters.com Register Britain pushing to increase domestic energy supply Moratorium has been in place since 2019 More research needed to assess the risk of tremors BGS survey says challenges remain on predicting impact LONDON, Sept 22 (Reuters) – Britain on Thursday formally lifted a moratorium on fracking for … Read more

Tokyo June heatwave worst since 1875 as power supply creaks under strain

TOKYO, June 28 (Reuters) – Japan baked under scorching temperatures for a fourth successive day on Tuesday, as the capital’s heat broke nearly 150-year-old records for June and authorities warned power supply remained tight enough to raise the spectrum of cuts. The heatwave comes less than two weeks before a national election in which prices, … Read more

Europe may shift back to coal as Russia turns down gas flows

Pipes at the landfall facilities of the ‘Nord Stream 1’ gas pipeline are pictured in Lubmin, Germany, March 8, 2022. REUTERS / Hannibal Hanschke / File Photo Register now for FREE unlimited access to Reuters.com Register Germany may take ‘painful’ move to fire up coal power Italy, Austria also looking at burning more coal Surging … Read more