New Delhi CNN Business — Indian billionaire Gautam Adani says that China “will feel increasingly isolated” and the “foremost champion of globalization” would find it hard to bounce back from a period of economic weakness. Speaking at a conference in Singapore on Tuesday, Adani said “increasing nationalism, supply chain risk mitigation, and technology restrictions,” as […]
London CNN Business — UK policymakers are trying to calm markets after a plan by Prime Minister Liz Truss to cut taxes while ramping up borrowing sparked panic among investors worried it could feed inflation and destabilize government finances. The Bank of England said Monday that it is “monitoring developments in financial markets very closely […]
London CNN Business — Labor unions in the United Kingdom offered the country a brief respite from a wave of strike action during the period of national mourning for the late Queen Elizabeth II. Now, one day after the monarch’s funeral, strikes are back on as workers press their claims for better pay and conditions […]
CNN — It has been close to six decades since the British monarchy symbolically ruled Singapore, but Queen Elizabeth II’s death still elicited grief and reflection in the Southeast Asian nation. Leading tributes was Singapore’s Prime Minister Lee Hsien Loong, who sent his condolences to British leaders and shared a photograph taken with the Queen […]
London CNN Business — The British pound slumped to a 37-year low on Friday after new data showed that shoppers are pulling back spending as inflation squeezes household budgets, underscoring fears that the economy may already be shrinking. The currency fell below $1.14, its lowest since 1985, after the Office for National Statistics said that […]
Evening Standard/Hulton Royals Collection/Getty Images King George VI’s coffin is carried through the streets of London before being transported to Windsor Castle for his funeral on February 15, 1952. As the United Kingdom mourns Queen Elizabeth II, only a minority will remember first-hand what life was like the last time the country buried a monarch. […]
Workers at Britain’s biggest container port Felixstowe plan to stage a second eight-day strike over pay, the Unite union said on Tuesday, adding to a wave of industrial unrest caused by soaring inflation. Fresh strikes are planned from Sept. 27 to Oct. 5 after port workers voted by an 82% majority to reject a 7% […]
New York CNN Business — The British pound fell to a 37-year low against the US dollar Wednesday as the United Kingdom grapples with a series of overlapping economic problems with no easy solutions. A looming recession, a disastrous energy crunch and the highest inflation among G7 nations has sent the pound sinking over the […]
London CNN — Wayne Couzens, the former London police officer who abducted, raped and murdered Sarah Everard in 2021, has been sentenced to 19 further months in prison for indecent exposure incidents that took place while he was serving in the force. Couzens, 50, was already serving a life sentence without the possibility of parole […]
London CNN Business — Rishi Sunak, Britain’s third prime minister in seven weeks, took office on Tuesday with a pledge to fix the “mistakes” of predecessor Liz Truss and tackle a “profound economic crisis.” The task won’t be an easy one, he acknowledged. “This will mean difficult decisions to come,” Sunak said in his first […]