Page 11 - Britain

Asian bond selloff eases, stocks drop amid focus on UK gilts, US policy

Selling in stocks continued though, with most Asian share indexes ticking down in early trading

UK has strong belief in India's democratic values, growth story: Om Birla

There is a strong belief in India's democratic values and growth story here, Lok Sabha Speaker Om Birla said in London during his ongoing visit to the UK. Addressing a community gathering at the High Commission of India in London on Wednesday evening, Birla shared insights from his dialogues with his UK counterpart House of Commons Speaker Sir Lindsay Hoyle and other members of Parliament. He noted that his interactions highlighted the strength of the India-UK parliamentary cooperation and the multifaceted nature of the bilateral partnership across multiple sectors. I had a good dialogue with leading UK parliamentarians and they displayed a strong belief in India's democratic values and growth story, Birla said. Our electoral process is transparent, which has helped reinforce a belief in democracy around the world. We take pride as the largest democracy of the world, dubbed the mother of democracy', and I extend an invitation to come visit India's new Parliament as we mark 75 year

UK Tories vie for Elon Musk's attention with grooming gangs probe vote

The Tory party, led by Kemi Badenoch, now spies a political opportunity by backing Musk's call for a full government-led investigation into the scandal

Indian diaspora groups condemn use of term 'Asian' in UK's child sex abuse

A number of Indian diaspora groups in the UK have strongly objected to the use of the generic term Asian with reference to a historic child sexual abuse scandal across different parts of England, largely involving gangs of men of Pakistani heritage. Defending his record, British Prime Minister Keir Starmer said on Monday that he had reopened such cases and brought the first prosecution of an Asian grooming gang in Rochdale, north-west England, during his time as the head of the Crown Prosecution Service (CPS) between 2008 and 2013. The Network of Sikh Organisations (NSO) reacted to Starmer's statement to highlight that the charity had first complained about the use of vague terminology referencing the country's wider South Asian community in connection with the crime back in 2012. This use of the vague reference to Asian' grooming gangs is extremely disappointing from the Prime Minister, NSO said in a statement. Part of the problem with this issue has been a fear of not speaking ..

UK business morale gloomiest, hits two-year low after tax rises: Survey

Finance minister Rachel Reeves announced 40 billion pounds ($50 billion) of tax rises on Oct 30, the most of any budget since 1993

UK minister Tulip Siddiq under scrutiny over ties to former Bangladeshi PM

The filings show that the apartment was registered to Abdul Motalif, a developer linked to the Awami League, the political party led by Sheikh Hasina, Bangladesh's former PM and Siddiq's aunt

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