Britain Financial News
09.01 / 14:33
markets
economy
Liz Truss sends 'cease and desist' letter to Starmer over claim she 'crashed the UK economy'
In the letter, lawyers for Truss argued the Labour PM's statement was «false and defamatory», and suggested it was partly to blame for her losing her re-election as MP for South West Norfolk in July 2024. Truss declined to comment and the Prime Minister's office has been contacted for comment. 'Bad news' for Labour as surging gilt yields puts pressure on government's debt management Starmer's claims refer to the aftermath of Truss and former chancellor Kwasi Kwarteng's Mini Budget in September 2022, which sent financial markets spiralling after unveiling major tax cuts funded by bo...
09.01 / 14:33
markets
COST
Treasury steps in to defend Reeves' borrowing amid gilt market selloff
The Treasury rejected claims that higher debt costs had limited Chancellor Rachel Reeves's headroom for borrowing, calling them «pure speculation». «UK debt is the second lowest in the G7 and only the OBR's forecast can accurately predict how much headroom the government has,» a Treasury spokesperson said, adding that «no one should be under any doubt that meeting the fiscal rules is non-negotiable and the government will have an iron grip on the public finances». The Treasury intervention came after yields on UK 30-Year gilts rose to the highest level since 1998 on Wednesday (8 Janua...
09.01 / 13:55
security
Bill
Trade
War
country
politician
Canada on Trump’s proposed union: Thanks, but let’s just Be friends
Subscribe to enjoy similar stories. TORONTO—The last time the U.S. seriously floated the idea of taking over Canada, it was 1866, and the dust had just settled on the Civil War.
09.01 / 12:17
09.01 / 12:17
markets
Williams
Remark
Celebrity
Monarchy
social
Scandals
'To the most incredible wife': Prince William wishes Kate Middleton on her birthday
Prince William praised the strength of the Princess of Wales after a turbulent year, offering a 43rd birthday wish on social media on Thursday that described her as an incredible wife and mother. The brief but cheerful message alluded to the past year, which was marked by illness and recovery that sidelined Kate, as she is commonly known, for extended periods. She had abdominal surgery, was diagnosed with cancer and underwent chemotherapy in the past 12 months.
09.01 / 11:35
09.01 / 11:35
09.01 / 09:33
markets
UPS
WhatsApp
reports
Tata Motors group global wholesales up 1 pc at 3,41,791 units in Q3
Tata Motors on Thursday reported a 1 per cent rise at 3,41,791 units in group global wholesales, including that of British arm JLR, in the third quarter ended December 2024. Global wholesales of Tata Motors passenger vehicles, including electric vehicles, in Q3 FY25 were 1,39,829 units, higher by 1 per cent compared to Q3 FY24, Tata Motors said in a regulatory filing.
09.01 / 02:41
markets
Cooper
Strategy
community
PAM
country
cover
UK has strong belief in India's democratic values, growth story: Lok Sabha Speaker Om Birla
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.
09.01 / 00:09
markets
UPS
Strategy
Trade
PAM
International
From India, a range of world glass offerings
Indian artisanal gin, single malt and coffee liqueur brands are planning to ramp up exports this year by debuting in new markets and categories.
08.01 / 13:47
COST
UPS
Fallout
reports
'Bad news' for Labour as surging gilt yields puts pressure on government's debt management
According to data from MarketWatch, the UK 30-Year gilt – an indicator for long-term borrowing costs – is up 21.2% since the beginning of the year, standing at 5.34% at the time of reporting. Yesterday (7 January), the yield hit 5.212%, surpassing the levels seen in the fallout of Liz Truss' Mini Budget back in 2023 and set a new record for the millennium. The 10-Year gilt is 20.9% higher since 1 January 2025, reaching 4.78% this morning. Higher yields prompt investors to pour into fixed income funds as UK equities break outflow spell Richard Carter, head of fixed interest at Q...
08.01 / 13:47
performer
UK equity funds suffer ninth-year of outflows in 2024
Although this was less than the near £12bn pulled from the sector in 2023, it was the «worst relative performance seen by the unloved UK-equity sector», Calastone found as other sectors took in mammoth sums. Meanwhile, net inflows into equity funds globally surged to an all-time high in 2024, hitting £27.2bn and significantly overtaking the previous record of £19.8bn in 2021. Higher yields prompt investors to pour into fixed income funds as UK equities break outflow spell Passive mandates received the highest volume of net positive investments, with investors committing £29.6bn in ...
08.01 / 05:33
markets
Digital
Strategy
Experts
PAM
social
UK's richest woman earns three times more than Tim Cook despite massive 45% pay cut
Denise Coates, the UK's highest-paid woman, earned a total of £150 million in salary and dividends for 2024, despite accepting a 45% pay cut. This includes £94.7 million in salary, along with £64 million in dividends, attributed to her 58% stake in Bet365, the online gambling company she co-founded. Coates’ earnings still remain significantly higher than those of many global CEOs, including Apple’s Tim Cook, who earned $63.2 million in 2023, roughly a third of Coates' total pay.
08.01 / 04:21
Platform
Tesla
Election
President
social
politician
Elon Musk helped Trump win. Now he's looking at Europe, and many politicians are alarmed
Fresh from pouring his money and energies into helping Donald Trump win reelection, Elon Musk has trained his sights on Europe
08.01 / 02:21
UPS
Strategy
economy
Research
Universities
cover
innovations
How the Gulf’s rulers want to harness the power of science
Subscribe to enjoy similar stories. Bayt al-Hikma, or the House of Wisdom in Baghdad, emerged in the ninth century—even before the Accademia dei Lincei in Rome, widely considered the first academy of sciences. The Banu Musa brothers, sons of an astronomer in Baghdad, created the first machine with a stored program there and scientific textbooks from the institute were translated and made their way to Europe.
07.01 / 21:51
markets
Williams
Strategy
PAM
reports
Schools
Colleges
Prince William and Kate's Royal kids will attend this prestigious school in a surprise break from tradition
Prince George, 11, Princess Charlotte, 9, and Prince Louis, 6. The three will obviously attend a prestigious school, but there has reportedly been a startling departure from royal custom due to maternal and sibling relationships.
07.01 / 19:53
markets
Man
Citizens
Platform
social
donates
Elon Musk's dad Errol's advice to Britishers, 'Tell the world's richest man to get lost'
Elon Musk's father, Errol Musk, tells the public to ignore his son and ask him to get lost. For British citizens who are upset about the richest man in the world attempting to influence their politics through social media, Elon Musk's father has some advice.
07.01 / 17:27
Boxing
reports
Investment trusts see record number of mergers and buybacks as industry locked in deep discounts
According to data from the Association of Investment Companies, Tritax Big Box REIT's merger with UK Commercial Property REIT was the largest to take place in 2024, leading to a newly created entity with total assets of £6.1bn. This was followed by the merger between Alliance trust and Witan investment trust, which completed in October, reaching a total of £5.7bn in assets. The resulting vehicle, Alliance Witan, joined the FTSE 100 index on 23 December. Meanwhile, the AIC reported seven liquidations, while 32 trusts saw their fees changed to benefit shareholders, as trust boards wo...
07.01 / 17:27
CEO
Philip Chandler named CIO of Schroder Investment Solutions
In his new role, Chandler will help further bolster the SIS scheme by bringing in line the UK multi-asset team and the model portfolio service (MPS) range in order to create greater unification across all SIS solutions. Since joining the multi-asset team in 2009, Chandler has served as co-manager of the global multi-asset portfolio range within SIS since its inception. He joined Schroders in 2003 as a fixed income fund manager. Panmure Liberum upgrades Schroders to 'Buy' following group CEO change In addition to his appointment as CIO of SIS, Chandler will continue in his role as h...
07.01 / 17:27
FIVE
Strategy
AXA
innovations
reports
Department
Liontrust's James Dowey reappears at AXA IM amid thematic team hiring spree
Dowey and Ward will be based in London and will report to Tom Riley, head of global thematic strategies for AXA IM Core. The former joins from Liontrust Asset Management, where he was a fund manager and co-head of the global innovation investment team. In October 2024, Investment Week revealed that Dowey was preparing to leave Liontrust, following five years at the UK asset manager, but his next move was unknown as the time. Liontrust co-head of Global Innovation team James Dowey set to depart His new colleague Ward joins from Barings, where he served as head of global tech...
07.01 / 17:03
UPS
Waters
Parke
ICE
Photos
travelers
Schools
Severe flood warning issued as the UK faces more weather disruptions
Serious flooding swamped parts of England and snow forced three airports to close temporarily as wet and icy weather combined to extend travel chaos that has plagued the U.K. since the start of the year
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