Page 10 - Britain

EV sales surge by 60% in UK as carmakers slash prices to dodge fines

The UK government is now reviewing the rules, which could result in increased flexibilities to help manufacturers meet them

UK grooming gang scandal reignited, Elon Musk, British MPs raise subject

Musk criticised the UK's handling of such crimes, directly calling out former CPS head and current Prime Minister Keir Starmer

Rupert Murdoch's News Corp to sell Foxtel to Britain's DAZN for $2.1 bn

News Corp will gain a board seat and hold a 6 per cent stake in DAZN, a London-headquartered streaming platform

In another blow to new Labour govt, British economy flatlines in Q3

The British economy flatlined in the third quarter of the year, according to downwardly revised official figures Monday, in another blow to the new Labour government that has made growth its number one mission. In its latest revision of the July to September period, the Office for National Statistics said the British economy showed no growth against the previous estimate of 0.1%. The agency partly blamed the reduction on fresh survey data showing weaker trading across bars and restaurants. The reduction has prompted critics to say that Labour talked down the economy on taking power on July 5 for the first time in 14 years when it described its economic inheritance from the previous Conservative administration as being the worst in generations. Treasury chief Rachel Reeves promised to turbocharge economic growth after Labour won the July election but has now seen the economy stall over the three months to September, while official figures earlier this month also pointed towards a 0.

UK PM Starmer hosts group of Indian investors, CEOs at Downing Street

The visit follows Starmer's meeting with Prime Minister Narendra Modi at the G20 where they committed to take forward an ambitious UK-India Comprehensive Strategic Partnership

London's Heathrow to invest nearly $3 bn to upgrade airport over 2 years

The capital will be used to improve all terminals, including baggage delivery and projects to support punctual departures and arrivals,

UK govt approves $4.6 bn takeover of Royal Mail by Czech billionaire

Britain's government gave the go-ahead Monday for the sale of Royal Mail's parent company to a Czech billionaire, paving the way for the postal service to pass into foreign ownership for the first time in its 500-year history. Authorities confirmed Monday that the 3.6 billion-pound (USD 4.6 billion) takeover of Royal Mail's owner, International Distribution Services, by billionaire Daniel Kretinsky's EP Group, can go ahead. Kretinsky and IDS agreed to the deal in May but had been waiting for official approval under national security laws because of the importance of the postal service in the UK. The service will remain headquartered in the UK and as part of the deal, Britain's government will retain a so-called golden share in the service, meaning it will need to approve any key changes to Royal Mail's ownership, headquarters location and tax residency. The takeover is expected to be completed early in 2025. Royal Mail, one of the UK's oldest institutions, began in the 1500s as a

UK property asking prices fall, headwinds remain for 2025, says Rightmove

Compared with a year earlier, asking prices were 1.4 per cent higher

Britain joins trans-Pacific pact in biggest post-Brexit trade deal

The pact represents Britain's first free trade deals with Malaysia and Brunei, but while it had agreements with the other countries, CPTPP provisions go further, especially in giving companies choices

UK economy shrinks in Oct, suffers first back-to-back declines since 2020

Gross domestic product shrank 0.1 per cent month-on-month in October, as it did in September, the Office for National Statistics said

Worker shortages raise doubts over Britain's plan to build for growth

Britain has long lacked candidates to fill jobs, a problem made worse by the 2016 Brexit vote and Covid-19, with vacancies higher than their level before the pandemic

British trader gets 12 years' jail in Denmark for 'cum-ex' tax fraud

Shah has denied any wrongdoing, arguing earlier in court that he used a legal loophole, which meant the trades did not break the law, and that he should be acquitted

Bank of England set to stay in central bank slow lane, keep rates on hold

BoE has cut Bank Rate only twice from a 16-year peak, helping to make sterling the only currency from the Group of 10 leading economies that has not fallen against the US dollar in 2024

British Indian student elected president of historic Cambridge Union

A British Indian student has been elected president of the University of Cambridge's historic Cambridge Union Society, among the world's oldest debating societies which prides itself as a defender of free speech since 1815. Anoushka Kale won 126 votes to be elected uncontested for the next Easter 2025 term in an election held recently. As the serving Debates Officer of the society, Kale ran on a platform of strengthening ties with cultural societies of the university such as the India Society. I am absolutely delighted and honoured to have been elected as President of the Cambridge Union Society for Easter 2025 and grateful for the membership's support, said Kale. For my term, I will seek to expand diversity and access at the Union through greater collaboration with cultural groups, like the university's India Society. I am also especially passionate about continuing to host international speakers and global debate motions, as I did as Debates Officer of the society, she said. Form

Sale agreed for the Guardian-run Observer, world's oldest Sunday newspaper

The sale of the Observer, the world's oldest Sunday newspaper and a bastion of liberal values in Britain's media landscape, was approved Friday despite two days of strike action from journalists this week. The Scott Trust, the owner of the Guardian Media Group, which includes the Observer and its sister paper the Guardian, said the sale to Tortoise Media is expected to be signed in the coming days. The Scott Trust said it will invest in Tortoise Media, becoming a key shareholder, and take a seat on both its editorial and commercial boards. Under the terms of the deal, Tortoise will invest 25 million Pounds (USD 32 million) in the Observer, and has committed to continue its Sunday print edition and build up its digital brand. It has also committed to safeguarding journalistic freedom and the editorial independence of the Observer, undertaking to honour the liberal values and journalistic standards of the Scott Trust in its editorial code. Tortoise was launched in 2019 by James Hard

Will think on retaliating if hit by Trump tariffs, says UK minister

Trump has floated blanket tariffs of 10 per cent 20 per cent on virtually all imports

World stands at the cusp of '3rd nuclear age': Britain's armed forces head

The head of Britain's armed forces has warned that the world stands at the cusp of a third nuclear age,' defined by multiple simultaneous challenges and weakened safeguards that kept previous threats in check. Admiral Tony Radakin, chief of the defence staff, said Britain needs to recognise the seriousness of the threats it faces, even if there is only a remote chance of Russia launching a direct nuclear attack on the UK or its NATO allies. While the Cold War saw two superpowers held at bay by nuclear deterrence and the past three decades were characterised by international efforts to restrict the spread of nuclear weapons, the current era is altogether more complex, Radakin said Wednesday in a speech to the Royal United Services Institute. We are at the dawn of a third nuclear age' he said. It is defined by multiple and concurrent dilemmas, proliferating nuclear and disruptive technologies and the almost total absence of the security architectures that went before. Challenges face

Norway's Equinor, Shell plan to form UK oil and gas joint venture

Joint venture will be based in Aberdeen, Scotland, and will be set up to sustain domestic oil and gas production and security of energy supply in Britain, Equinor said

Britain approves $19 billion merger between Vodafone UK, Three mobile

Vodafone and Three have committed to spend $14 billion to build a better 5G network that will serve 50 million customers, including the subscribers of Vodafone's network partner Virgin Media O2

Britain and Qatar to sign MoU boosting fintech and green finance ties

The memorandum is being signed during a two-day state visit to Britain by Qatar's emir, Sheikh Tamim bin Hamad Al Thani, who is expected to meet Prime Minister Keir Starmer later on Wednesday