Page 26 - Uk

US, UK, Oz leaders unveil nuclear submarine deal to counter China

The programme will cost up to A$368 billion ($245 billion) over the next three decades, a defence official said on Tuesday, the country's biggest single defence project in history

US, Australia and UK ink submarine deal to counter Chinese aggression

The United States, Australia and the United Kingdom has announced a nuclear-powered submarine deal, a step aimed at countering the Chinese aggressive behavior in the Indo-Pacific region. The announcement was made after the leaders of the three countries attended a summit meeting in San Diego on Monday and asserted that the move is to keep the Indo-Pacific region free and open. With the support and approval of the Congress, beginning in the early 2030s, the United States will sell three Virginia-class submarines to Australia with the potential to sell up to two more if needed, jumpstarting their undersea capability a decade earlier than many predicted, Biden said in San Diego with Australian Prime Minister Anthony Albanese and British Prime Minister Rishi Sunak. This state-of-the-art conventionally armed nuclear-powered submarine will work -- that will combine the UK submarine technology and design with the American technology, he said. Australia's future SSN, which Biden described

UK boosts defense spending by $6 bn in response to Russia and China

UK Prime Minister Rishi Sunak pledged Monday to increase military funding by 5 billion pounds (USD 6 billion) over the next two years in response to Russia's invasion of Ukraine and the epoch-defining challenge posed by China. The increase, part of a major update to U.K. foreign and defense policy, is less than military officials wanted. Sunak said the U.K. would increase military spending to 2.5 per cent of gross domestic product in the longer term, but didn't set a date. Britain currently spends just over 2 per cent of GDP on defense, and military chiefs want it to rise to 3 per cent. The extra money will be used, in part, to replenish Britain's ammunition stocks, depleted from supplying Ukraine in its defense against Russia. Some will also go towards a U.K.-U.S.-Australia deal to build nuclear-powered submarines. The world has become more volatile, the threats to our security have increased, Sunak told the BBC during a visit to the U.S. It's important that we protect ourselves ..

HSBC Holdings to buy Silicon Valley Bank's UK arm for £1 in tech repreive

The London-listed lender's "ring-fenced subsidiary, HSBC UK Bank plc, is acquiring Silicon Valley Bank UK Limited (SVB UK) for £1," HSBC said in a statement Monday.

UK commits to supporting UNSC reforms, India's permanent membership

The UK government made its first major commitment to support UN Security Council reforms and India's permanent membership within it as part of a refreshed defence and foreign policy review tabled in Parliament on Monday. The 'Integrated Review Refresh 2023: Responding to a More Contested and Volatile World' builds on the 2021 review (IR2021) which had a so-called Indo-Pacific tilt at its heart. In the refresh, the government believes the Indo-Pacific is no longer just a tilt but a permanent pillar of Britain's foreign policy, as it also commits to working towards a free trade agreement (FTA) with India. "Moving beyond IR2021, the UK will support reform of the UN Security Council (UNSC) and would welcome Brazil, India, Japan and Germany as permanent members," reads the refreshed review. Downing Street pointed out that this marks an important policy evolution, just as the Integrated Review Refresh 2023 (IR2023) was tabled in the House of Commons by UK Foreign Secretary James ...

UK Prime Minister Rishi Sunak hikes country's defence spending on US tour

British Prime Minister Rishi Sunak is on a tour of the US on Monday for a trilateral meeting with US President Joe Biden and Australian Prime Minister Anthony Albanese, during which he confirmed a hike in Britain's defence budget of an extra GBP 5 billion over the next two years. The world leaders will agree on details of a UK-US agreement to supply Australia with nuclear-powered submarines as part of the AUKUS pact, which was signed in 2021 as part of a joint effort to counter Chinese military power in the Indo-Pacific region. Downing Street said GBP 3 billion from the extra defence spending would be earmarked to support the pact, along with boosting industrial infrastructure and servicing UK submarines. As the world becomes more volatile and competition between states becomes more intense, the UK must be ready to stand our ground, said Sunak. By investing in our armed forces for the long-term, we will be ready for the challenges of today and of the future. As I will discuss with

Why Rahul Gandhi remains in the BJP's cross hairs

It is not in the BJP's interest to have the national attention once again focused on Rahul Gandhi

Saudi Aramco earned profits of $161 bn in 2022 due to high crude oil prices

Oil giant Saudi Aramco said Sunday it earned a USD 161 billion profit last year. The firm, known formally as the Saudi Arabian Oil Co., said in its annual report that higher crude oil prices propelled its profits. It made the announcement on Riyadh's Tadawul stock exchange. In 2021, Aramco declared profits of USD 110 billion, as compared to USD 49 billion in 2020 when the world faced the worst of the coronavirus pandemic lockdown, travel disruptions and oil prices briefly going negative. Benchmark Brent crude oil now trades around USD 82 a barrel, though prices had reached over USD 120 a barrel back in June. Aramco, whose fortunes hinge on global energy prices, announced a record USD 42.4 billion profit in the third quarter of 2022 off the back of that price spike. Those high prices have further strained ties between the kingdom and the United States, traditionally a security guarantor among the Gulf Arab states amid tensions with Iran. Before the midterm elections in November, t

UK records spike in Indians crossing over illegally in small boats

Britain has recorded a spike in Indians crossing over illegally into the country across the English Channel last year, when a total of 683 largely Indian men were reported to have landed on its shores via small boats. This figure, according to the latest UK Home Office "Irregular Migration to the UK" statistics for the year ending December 2022, shows a progressive rise from the 67 Indian nationals recorded to have crossed over in small boats in 2021, 64 in 2020 and none in 2019 and 2018. The UK has a returns agreement with India under the Migration and Mobility Partnership (MMP), something which was referred to by British Prime Minister Rishi Sunak in Parliament last week. "We have returns agreements with India, Pakistan, Serbia, Nigeria and crucially now with Albania, where we are returning hundreds of people," Sunak told the Commons during Prime Minister's Questions (PMQs). "Our position is clear: if you arrive here illegally you will not be able to claim asylum here, you will

UK govt working on a plan for tech firms after Silicon Valley Bank collapse

US regulators shut down the bank on Friday in what is the largest failure of a US bank since 2008

UK to pay France $576 mn over next 3 years to combat illegal immigration

As per Illegal Migration Bill, people who come to UK illegally cannot claim asylum, benefit from UK's modern slavery protections, make spurious human rights claims and also cannot stay in the country

Safety law likely to shut UK WhatsApp services, says Will Cathcart

The Online Safety Bill before Parliament could effectively make the service's privacy features illegal

Nirav Modi claims he has no funds to pay UK court fines, borrowing money

Nirav Modi, the fugitive diamond merchant wanted in India to stand trial on fraud and money laundering charges, has claimed that he has no funds and is resorting to borrowing money to pay the court-ordered legal costs amounting to more than 150,000 pounds. The 52-year-old former billionaire last year lost his legal battle in the highest UK court against being extradited to India in the estimated USD 2 billion Punjab National Bank (PNB) loan scam case. But his case is now said to be statute barred, indicating further pending litigation. Meanwhile, Nirav remains behind bars at Wandsworth Prison in south-west London, from where he appeared via videolink for a hearing at Barkingside Magistrates' Court in east London on Thursday over unpaid legal costs, or fines, of 150,247 pounds ordered by the High Court in London, related to his extradition appeal proceedings. According to officials, the magistrates at a procedural hearing for court fines granted his plea to be allowed to pay 10,000 .

Vodafone Group, Three UK putting final touches on tie-up with Britain

Talks are ongoing and no final decisions on the structure of the merger or timing of any announcement have been made

Shell CEO pay up by 50% to $12mn as soaring energy prices boosted profit

The pay package for Shell's CEO jumped by half last year to nearly USD 12 million, the fossil fuel giant said on Thursday, as oil and gas companies made record profits from skyrocketing energy costs that have driven a cost-of-living crisis. London-based Shell paid Ben van Beurden a total of 9.7 million pounds (USD 11.5 million) in 2022 as annual company profits doubled to an all-time high of USD 40 billion because Russia's war in Ukraine sent oil and gas prices soaring. Van Beurden's pay includes a 2.6 million-pound bonus and 4.9 million pounds worth of stock, according to the company's annual report. Van Beurden stepped down at the end of last year and was replaced by Wael Sawan, who will be paid a base salary of 1.4 million pounds and a bonus that's expected to be bigger than the salary, the report said. Demands have increased for oil and gas companies raking in huge profits to do more to reduce high energy costs that are hurting consumers and small businesses. Opposition lawmak

UK looks to ease immigration rules for foreign workers to plug shortages

The Migration Advisory Committee has recommended that tradespeople including carpenters, bricklayers and roofers should be added to the "shortage occupation list"

UK's CAA told Heathrow to cut fees it charges airlines over 2024-26

Heathrow charges would fall to about 25.43 pounds per passenger in nominal terms over the 2024-2026 period

Indian-origin UK home minister proposes crackdown on illegal migrants

Britain's Indian-origin Home Secretary, Suella Braverman, on Tuesday announced a new Illegal Migration Bill that will mean migrants arriving in the UK illegally on small boats will be "removed swiftly". The minister, whose father is of Goan heritage and mother of Tamil heritage, referenced her own migrant roots during her statement in the House of Commons to lay out details of the new "robust approach" against illegal migration. "They will not stop coming here until the world knows that if you enter Britain illegally you will be detained and swiftly removed back to your country, if it is safe, or a safe third country such as Rwanda," Braverman. "And that is precisely what this bill will do. That is how we will stop the boats," she said. The Home Secretary said the new bill will mean last-minute judicial reviews "conducted late at night with no chance to make our case or even appeal decisions" are no longer allowed. "Now, the United Kingdom must always support the world's most ...

Rishi Sunak unveils new framework to make UK science & tech superpower

British Prime Minister Rishi Sunak on Monday launched a new framework through his newly created ministry the Department for Science, Innovation and Technology as part of a vision to cement the UK's place as a science and technology superpower by 2030. The British Indian leader said the new Science and Technology Framework is designed to challenge every part of government to better put the UK at the forefront of global science and technology this decade through 10 key actions, creating a coordinated cross-government approach. Downing Street said that the framework will work alongside a raft of new measures backed by over GBP 370 million in funding to boost investment in innovation, bring the world's best talent to the UK, and seize the potential of ground-breaking new technologies like Artificial Intelligence (AI). "Trailblazing science and innovation have been in our DNA for decades. But in an increasingly competitive world, we can only stay ahead with focus, dynamism and ...

Illegal immigrants will not be able to apply for asylum: UK PM Sunak

Sunak's government is expected to push legislation cracking down on illegal immigration later this week, with a special emphasis on illegal immigrants arriving in boats across the English Channel