Britain Financial News

Ford is cutting its workforce by 4,000 in Europe and the U.K. by the end of 2027, citing headwinds from the economy and pressure from increased competition and weaker-than-expected sales of electric cars

A promotional video for a rebrand of British luxury car brand Jaguar is being criticized online for showing models in brightly colored outfits — and no car

President-elect Donald Trump has vowed to repeal President Joe Biden’s signature artificial intelligence policy when he returns to the White House for a second term

Tax Justice Network's 'State of Tax Justice 2024' report was made public on Tuesday. It has dropped like a grenade into the neatly-raked zen garden of global finance. The report reveals a staggering $492 bn lost annually to global tax- dodging that's lounging in secret offshore accounts, funding billionaire jets, yachts and even booking for future intergalactic travel. This is a tale of two kinds of tax-avoiders: one, corporate; the other, personal. Two-thirds of the total $347.6 bn comes from MNCs playing an elaborate game of offshore hopscotch to underpay taxes. The remaining third, $144.8 bn, stems from HNIs hiding their treasure chests in tax havens. So, who's enabling this grand evasion? Eight countries, the 'Elite Eight', are at the forefront: Australia, Canada, Israel, Japan, New Zealand, South Korea, Britain and the US. Together, these economic heavyweights are responsible for nearly half of global tax abuse losses.

Khalistani terrorist Hardeep Singh Nijjar. The report alleged that PM Modi was aware of the plot to kill Nijjar in British Columbia. MEA said, such ludicrous statements made to a newspaper purportedly by a Canadian government source should be dismissed with the contempt they deserve. «Smear campaigns like this only further damage our already strained ties,» MEA added.

Tens of thousands of British Columbians were without power on Wednesday after a bomb cyclone brought strong winds overnight.

World Trade Organization (WTO) India’s quality control orders (QCO) on various products including medical textiles, footwear and viscose staple fibre, and certain measures which restrict its import of copper, wooden boards and tyres. These issues came up at a meeting on market access in WTO on Wednesday. Last year, Canada, Japan, the UK and the EU had raised concerns at India’s QCOs terming them protectionist. “Some new trade concerns pertaining to India’s QCOs were raised at the meeting,” said a Geneva-based official.

A spokesperson for Prime Minister Keir Starmer said his office would not be commenting on reports or operational matters. Britain had previously said Ukraine could use Storm Shadow cruise missiles within Ukrainian territory but the government has been pressing the United States for permission to allow their use to strike targets inside Russia for several months.

GNFC) on Wednesday said it will form a 50:50 joint venture with Britain's INEOS Acetyls International to build and operate a world-scale acetic acid facility in India. The joint venture will oversee both the plant's operations and coordinate marketing efforts for domestic distribution of acetic acid produced at the facility, the company said in a regulatory filing. The memorandum of understanding, signed on November 20, provides for equal representation on the board of directors and equivalent subscription rights in the new entity, the company said. A formal joint venture agreement is expected to be finalised at a later date.

Australian communications minister says the government won’t force social media users to hand over personal information to tech companies, as children younger than 16 are set to be banned from the platforms

Inflation in the U.K. has risen sharply to a six-month high in October, cementing market expectations that there will be no further cuts in borrowing rates this year

Former Hong Kong publisher Jimmy Lai is testifying in his defense at his landmark national security trial

The partnership between the two firms means that Ninety One will take ownership of Sanlam's active asset manager, Sanlam Investment Management.  As part of the agreement, Sanlam will also appoint Ninety One as the investment manager of Sanlam Investments UK, taking ownership of the balance sheet assets, third-party assets and relevant investment professionals involved in the strategies. In recognition of the £17.4bn of assets transferred from Sanlam, 80% of which reside in South Africa, Ninety One said it intends to issue shares to Sanlam, amounting to an approximate stake of 12.3% of...

The report, compiled by ISS Market Intelligence (ISS MI), found the downturn in quarterly figures was driven by retail investors following a strong ISA season.  Benjamin Reed-Hurwitz, EMEA research leader at ISS MI, said the figures showed that uncertainty among investors is potentially hitting a «boiling point» just as the September portfolio rebalancing arrived.  The weaker figures came in mostly in September, when a series of factors including volatile US equities, the unpredictability of the American election and fears over the contents of the UK Autumn Budget at the time were loo...

Beginning back in 2022, Jupiter began a firmwide fund overhaul, mainly targeting «subscale» portfolios with less than £100m of assets under management across its entire asset class mix. In a letter to shareholders of the Jupiter UK Smaller Companies Equity fund, the firm said it was proposing a merger of it into the Jupiter UK Smaller Companies mandate due to the «materially similar» mandates, with 92% crossover in the funds' underlying assets. Jupiter poaches European equity team from GAM Investments The UK Smaller Companies Equity fund was founded in 1999 and currently has £91.9m...

Khalistani terrorist Gurpatwant Singh Pannun, was already listed under the «wanted» section on the FBI website in English. However, Indian authorities clarified that Yadav is not absconding—he was jailed for alleged robbery and is currently out on bail. The FBI's intensified interest in Yadav comes amidst rumors circulated by Pannun’s organization, Sikhs for Justice (SFJ), suggesting Yadav may be in Haryana or Punjab. Yadav is facing charges in a New York court for his alleged role in the Pannun murder-for-hire plot. The FBI has already arrested Nikhil Gupta, an Indian-origin man accused of working with an undercover officer and a DEA informant to orchestrate the killing.

It will be a while before Vis Raghavan becomes a veteran at Citi, but after nearly six months as the US bank’s global head of banking and executive vice chair, he’s presumably at last about to exceed his notice period. 

Jonathan Bloomer wasn't a chairman of Morgan Stanley International in the investment banking sense of the word. He was a chairman of Morgan Stanley International in the standard sense of the word: Bloomer has chaired Morgan Stanley's London board of directors since 2016 as part of a portfolio of non-executive director roles. Now, Morgan Stanley may sadly need to find someone else. 

Harry Potter fans anticipating the third attraction based on the popular book and movie franchise at Universal Orlando Resort learned that the fictional setting for the ride will be the British Ministry of Magic

British farmers have descending on Parliament to protest a tax hike they say will deal a “hammer blow” to struggling family farms

German soccer club Werder Bremen is the second team in the Bundesliga to stop posting on X