Britain Financial News

The OFR will replace the current Temporary Marketing Permissions Regime (TMPR), which has allowed European UCITS funds to access the UK market following Brexit. This is set to expire in December 2025, but the government has the ability to extend it further, if necessary. In its OFR policy paper published today (17 July), the FCA explained that funds currently operating under the TMPR will need to apply for recognition under the OFR to continue marketing in the UK. However, if such funds are not actively marketed to UK retail investors, but have been operating under the temporary regim...

Speaking at the State Opening of Parliament, King Charles III set out new legal powers for the OBR, one of 15 measures targeting 'economic stability and growth'.  The move to further the OBR's responsibilities came on the back of Prime Minister Keir Starmer's ambition to restore the powers of the UK's fiscal watchdog, which were severely dented by former Conservative prime minister Liz Truss when she went ahead with her Mini Budget plans without consulting the OBR.  Paul Diggle, chief economist at abrdn, said the reforms «will not make a practical difference to how the Labour governme...

MacLeod joined the UK branch of Bordier in 2010, at the time trading under the name Berry Asset Management. He worked as the chief executive for the company alongside founder Jamie Berry, who is set to step in as interim CEO of the business following his exit.  The firm is part of the Swiss private bank Bordier & Cie and became Bordier & Cie (UK) in 2014. «Jamie has helped to build our firm into one of the most highly regarded private client wealth management firms, with assets under management at an all-time high of £1.9bn,» Berry said. «After 14 years, he wishes to start a new chapt...

Piyush Goyal has called for enhancing collaborations among trusted partner countries for smooth supply of critical minerals, semiconductors, pharmaceuticals, and green energy, an official statement said on Wednesday. The minister proposed this collaboration during the G7 Trade Ministers' meeting at Reggio Calabria, Italy. He also highlighted the importance of analyzing global supply chains' robustness in times of crisis like pandemic, Ukraine-Russia conflict, and Red Sea crisis. Goyal said that efforts are on in various countries to build resilient supply chains under platforms like the G20 Generic Framework for Mapping GVCs (global value chains), the 14 Member IPEF (Indo-Pacific Economic Framework for Prosperity) association, Trilateral Supply Chain Resilience Initiative (SCRI), and India-EU TTC (trade and technology council).

The last British Open at Royal Troon Golf Club in 2016 went down as one of the greatest duels in professional golf history. Henrik Stenson and Phil Mickelson put together two of the finest performances ever witnessed at a major, trading brilliant shots that cut through the blustery winds on the coast of Scotland. When Stenson finally pulled out the victory with four birdies in the final five holes, leaving him at an Open-record 20-under par and three strokes clear of the American, it might have seemed like the world’s best golfers had made easy work of an iconic course that dates back to the 19th century.

Morrison and Gosden joined the firm back in January, where they had run GAM's UK Equity Income strategy since its launch in 2017. The pair has continued to manage the vehicle on a sub-advisory basis with GAM since joining Jupiter six months ago, which has now been merged into the Jupiter UK Multi Cap Income fund following a shareholder resolution in June. Ben Whitmore's Jupiter exit delayed to October as future of Global Value fund determined later this year During this intermediary period, the fund has returned 8% compared to 7.4% for the FTSE All-Share benchmark index, and 40.2% ...

Core CPI, which excluded food, alcohol and tobacco, reached 3.5% in the year to June, the same as a month before, according to figures published by the Office for National Statistics today (17 July). Services inflation, a closely watched measure by the Bank of England's rate-setters, also remained sticky, refusing to come down from the May figure and remaining instead unchanged at 5.7% in June. UK inflation returns to 2% target but June BoE cut remains unlikely The latest data came in as the BoE's Monetary Policy Committee considers whether to start cutting interest rates at its ne...

A London judge who found that an Australian computer scientist falsely claimed to be the mysterious creator of the bitcoin cryptocurrency says he will refer the case to British prosecutors for possible perjury charges

British regulators have opened a preliminary investigation into Microsoft’s hiring of an AI startup’s key staff over concerns that it could thwart competition in the booming artificial intelligence market

Britain’s new Labour Party government campaigned on a promise to bring bold change at modest cost

Craig Wright, the Australian who has long claimed to be Bitcoin founder Satoshi Nakamoto, has been referred to the Crown Prosecution Services (CPS) British High Court Judge James Mellor for a possible perjury charge following a lawsuit by the Crypto Open Patent Alliance (COPA), new court documents reveal.

retail sales proved to be firmer than expected, but was still soft enough to keep expectations intact for a rate cut from the Federal Reserve this year. U.S. retail sales were unchanged in June, topping expectations of economists polled by Reuters for a decline of 0.3%, as a drop in receipts at auto dealerships was offset by strength elsewhere, a show of consumer resilience that boosts economic growth prospects for the second quarter.

Tata Steel protect local jobs at its Port Talbot plant, before it approves the 500-million ($635 million) lifeline offered by the previous administration for building a low-carbon facility. «Decarbonisation does not mean deindustrialisation,» new UK business secretary Jonathan Reynolds told ET in a response to email queries. «I will be working to safeguard jobs as part of negotiations, securing the future of steel-making communities for generations to come.» In September 2023, Tata Steel announced plans for a new low-carbon electric arc furnace (EAF) at its Wales factory, to be commissioned in 2027. The project entails investment of 1.25 billion jointly with the UK government, and thus hinges upon final approval of the grant.

Kate Winslet stars as American war correspondent Lee Miller in the new film 'Lee.' The trailer reveals her battle with both the dangers of war and sexism among her peers. Plot In the biopic directed by Ellen Kuras, Winslet takes on the role of Lee Miller, a real-life American war correspondent. The trailer highlights Miller's determination to document the atrocities of the Nazis despite the dangers and sexism she faces.

Moon as well? Some of those caves are as big as 130 feet or 40 meters wide and tens of yards meters long, reports AP. Talking to the BBC, Helen Sharman, the first British astronaut to travel to space said that humans could potentially be living in lunar pits in 20-30 years as these caves looked like a good place for a base. She also said that this cave is so deep that astronauts might have to use “jet packs or a lift” to get out.

Tiger Woods has rubbished suggestions calling for his retirement. The player has not won any major tournament since 2019 and his record has been mixed. In the world of Golf, he appears to be a legend having won a record number of championships. He has been unable to win any championship for a long period of time. This has prompted many to call for his retirement. In the upcoming week, he will be seen at action at Royal Troon and will hope to secure his fourth British title. He has expressed his confidence of his victory in the upcoming championship.

nutraceuticals to the drug regulatory authority from the oversight of the Food Safety and Standards Authority of India (FSSAI) has come under fire from pharma lobby groups and industry experts, who have raised apprehensions over the move and said the proposal should be kept in abeyance until it is discussed in detail. Nutraceuticals refers to food products with extra health benefits and includes supplements, functional foods and beverages. According to industry data, the segment is projected to grow to $18 billion in India by the end of 2025 from $4 billion in 2020. Experts said the regulations for nutraceuticals in the country are aligned with Codex Alimentarius, a global body functioning under the auspices of the World Health Organisation (WHO) to ensure safety of consumers.

Canada’s large pensions are facing rising losses from real estate investments, according to a sector report by Fitch Ratings Inc., which concluded that fund titans are nevertheless well-positioned to absorb near-term market swings.

Intense general election campaigning in the UK and France, coupled with cracks appearing in President Joe Biden's attempts to retain office, has seen faith in UK, US and European markets dwindle, with HL's Investor Confidence index falling by 6.5% in July. According to the index, faith in UK economic growth decreased by 3.7%, while confidence in the UK market fell by 6.4% in the run up to the general election. Data released by the Office for National Statistics last week revealed the UK economy grew faster than expected the month prior in May, expanding by 0.4% thanks to strong perfor...

LONDON — Craig Wright, an Australian man who claimed to be the inventor of bitcoin, was on Tuesday referred to British prosecutors for committing alleged perjury.