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☆ UK PM Rishi Sunak suffers two historic by-election defeats as Labour opposition surges
▼ + stars: | 2023-10-20 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Labour party candidate Sarah Edwards, centre, after polls closed in the Tamworth by-election on October 20, 2023 in Tamworth, England. LONDON — U.K. Prime Minister Rishi Sunak's Conservative Party suffered two historic by-election defeats on Thursday, with the main opposition Labour Party overturning huge majorities to win both seats. Labour overcame a 24,664 majority to win Mid Bedfordshire for the first time since the constituency's inception in 1931 in a 20.5% swing. In the process, it pulled off the largest Conservative numerical majority overturned in the U.K. by the main opposition party since 1945. The opposition party took on what was a 66% Conservative majority at the 2019 General Election.

Persons: Sarah Edwards, Rishi, Keir Starmer, Greg Hands, Chris Pincher, Pincher, Boris Johnson, Nadine Dorries, Johnson's Organizations: Labour, LONDON, Conservative Party, Labour Party, Tamworth, Mid Bedfordshire, Conservative, Conservatives, BBC Locations: Tamworth, England, Mid Bedfordshire, West Midlands, Bedfordshire

☆ Taiwanese minister to make rare Britain visit this week
▼ + stars: | 2023-06-11 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, June 11 (Reuters) - Taiwan Digital Minister Audrey Tang will make a rare high-level ministerial trip to Britain this week where she is expected to visit government departments and meet a company specialising in low-earth orbit satellites, her ministry said on Sunday. The two sides will "exchange views on issues related to digital governance and digital industry cooperation", the ministry added, without giving details. Tang will also visit OneWeb, which specialises in low-earth orbit satellites, and hopes to bolster Taiwan's communications resilience plans, the ministry said. Taiwan Foreign Minister Joseph Wu is expected to go to Europe this week, too, where he will attend a security forum in Prague. The last Taiwanese minister known to have visited Britain was Taiwan's top trade negotiator John Deng, who went last June.

Persons: Audrey Tang, Tang, Elon Musk's, Joseph Wu, John Deng, Britain's, Trade Greg Hands, Tsai Ing, Taiwan's, Ben Blanchard, Edmund Klamann Organizations: Taiwan Digital, WHO, Twitter, London Tech, Britain's Department for Science, Innovation, Technology, Department for Business, Trade, Elon, Taiwan, State, Thomson Locations: TAIPEI, Britain, Taiwan, Beijing, China, Europe, Prague

Two lawmakers with knowledge of the exports and two former officials said the approvals reflected Britain’s increased willingness to support Taiwan. One of the lawmakers, who also spoke on the condition of anonymity, said authorising the export licences amounted to giving a "green light" to better equip Taiwan. It shows the government authorised 25 export licences to Taiwan during the first nine months of 2022 under the categories "components for submarines" and "technology for submarines." Taiwan has for decades been unable to buy conventional submarines from other countries because of their concerns of angering China. Asked about the decision to approve the increase in export licences, the official said: "You just don't do something like this without thinking through the implications very carefully."

☆ UK PM Rishi Sunak overhauls government departments after bumpy 100 days in power
▼ + stars: | 2023-02-07 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

U.K. Prime Minister has announced a mini overhaul of his government as he seeks to reassert his authority after a shaky first 100 days in office. U.K. Prime Minister Rishi Sunak on Tuesday unveiled a new government department focused on energy security and announced a mini reshuffle of his cabinet as he seeks to reassert his authority after a shaky first 100 days in office. Sunak named former business minister Grant Shapps as head of the newly launched Department for Energy Security and Net Zero, whose focus will be on securing "long-term energy supply, bringing down bills and halving inflation." The prime minister also appointed former Trade Minister Greg Hands as his new party chairman, replacing sacked Nadhim Zahawi, in a mini-reshuffle of his top leadership team. The U.K. previously had a Department of Energy and Climate Change, but it was merged with the business department in 2016.

☆ UK's accession to the CPTPP would turn it into a 'global trading bloc': Trade minister
▼ + stars: | 2023-02-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUK's accession to the CPTPP would turn it into a 'global trading bloc': Trade ministerGreg Hands, Britain's international trade minister, says the country's accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership would change the nature of it.

☆ Britain eyes trade agreements with California, Utah
▼ + stars: | 2022-12-10 | by ( Andrea Shalal | ) www.reuters.com time to read: +2 min

WASHINGTON, Dec 9 (Reuters) - Britain this week inked an agreement aimed at boosting trade and investment with South Carolina, its third such deal with a U.S. state, and is seeking similar deals with California and Utah, the UK junior trade minister, Greg Hands, said on Friday. Britain remains convinced that a comprehensive free trade agreement with the United States makes good sense for both countries, Hands told Reuters, although the Biden administration has put all free trade talks on ice for now. Britain has signed trade agreements with Japan, Australia and New Zealand since leaving the European Union, and hoped to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, he added. "Yet our largest bilateral trade partner of all, the United States, we do not have a comprehensive free trade agreement with," he said, noting that the two countries share similar standards on worker rights, the environment and climate change. California is the most populous U.S. state and would rank as the world's sixth largest economy if it were a country.

☆ U.S., Britain launch energy partnership to boost supplies
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Ints Kalnins/File PhotoLONDON, Dec 7 (Reuters) - The United States and Britain announced on Wednesday an energy partnership aimed at sustaining a higher level of liquefied natural gas (LNG) exports to Britain and collaborating on ways to increase energy efficiency. Britain and other European countries have turned to the United States as they try to reduce their reliance on Russian energy supplies following Moscow's invasion of Ukraine begun in February. "This partnership will bring down prices for British consumers and help end Europe's dependence on Russian energy," British Prime Minister Rishi Sunak said in a statement. The "UK-US Energy Security and Affordability Partnership" will also aim to drive investment in clean energy and exchange ideas on energy efficiency and reducing demand for gas. The G7 - which includes Britain and the United States - has agreed a $60 per barrel price cap on Russian seaborne crude oil.

☆ Taiwan aims for British trade deal as minister meets president
▼ + stars: | 2022-11-09 | by ( Ben Blanchard | ) www.reuters.com time to read: +3 min

[1/6] British Minister of State at the Department for International Trade Greg Hands speaks during a meeting with Taiwan President Tsai Ing-wen at the presidential building in Taipei, Taiwan, November 9, 2022. Taiwan Presidential Office/Handout via REUTERSTAIPEI, Nov 9 (Reuters) - Taiwan hopes to sign a trade deal with Britain and deepen cooperation with new Prime Minister Rishi Sunak's government, President Tsai Ing-wen told a British minister visiting Taipei on Wednesday in defiance of Chinese demands such trips stop. "We attach great importance to the British proposal to promote an enhanced trade partnership between Taiwan and Britain," Tsai said. "Our goal is to strengthen mutually beneficial economic and trade exchanges between Taiwan and Britain and we hope Taiwan and Britain will work together to promote the signing of bilateral investment and trade agreements." Hands, in Taiwan for trade talks, told Tsai that their relationship was not only about that.

☆ British minister to visit Taiwan for trade talks, meet president
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, Nov 7 (Reuters) - A British minister will visit Taiwan this week for trade talks and meet President Tsai Ing-wen, his office said on Monday, the latest high-level engagement between a Western government and the island which China claims as its own territory. Britain's Department for International Trade said Greg Hands, minister of state for trade and also a member of parliament, would meet Tsai and co-host the 25th annual UK-Taiwan Trade Talks during his two-day visit. "Visiting Taiwan in person is a clear signal of the UK's commitment to boosting UK-Taiwan trade ties. Hands will also meet Taiwan's top trade negotiator John Deng and Economy Minister Wang Mei-hua, it added. China staged war games near Taiwan in August following a visit to Taipei by U.S. House Speaker Nancy Pelosi.

☆ UK PM Rishi Sunak says he's a 'visual representation' of links with India
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +1 min

LONDON, Oct 27 (Reuters) - Britain's new prime minister Rishi Sunak on Thursday described himself as a "visual representation" of historic links between Britain and India, during a call with his Indian counterpart Narendra Modi, Sunak's office said. Sunak, Britain's first leader of Indian descent, also conveyed his hope to Modi that the two nations could continue to make further progress towards a trade deal. "The Prime Minister hoped the UK and India could continue to make good progress in negotiations to finalise a comprehensive Free Trade Agreement," Sunak's office added. read moreMeanwhile, Britain missed its stated deadline of Diwali this year to finalise a free trade agreement with India, a pact that aims to double bilateral trade to $100 billion by 2030. Reporting by Sachin Ravikumar; editing by William JamesOur Standards: The Thomson Reuters Trust Principles.

☆ UK says has completed most of India trade deal, will only sign once happy
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: 1 min

LONDON, Oct 26 (Reuters) - Britain has completed the majority of sections of a free trade agreement with India but will only sign off on the deal once happy that it is fair and reciprocal, trade department minister Greg Hands said on Wednesday. "We have already closed the majority of chapters and look forward to the next round of talks shortly," Hands told parliament. The government had previously said it wanted to complete the deal by Diwali, a deadline which passed earlier this week. "We are working towards the best deal for both sides and won't sign until we have a deal that is fair, reciprocal and ultimately in the best interests of the British people and the UK economy." Reporting by William James; Editing by Sachin RavikumarOur Standards: The Thomson Reuters Trust Principles.

☆ No plans to change anything in mini-budget, UK minister says
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: 1 min

LONDON, Oct 14 (Reuters) - Britain's trade department minister Greg Hands said on Friday there were "absolutely no plans to change anything" when asked about the government's mini-budget. "The prime minister and the chancellor are absolutely determined to stick to the growth plan, to stick to the changes they outlined," Hands told LBC Radio following reports that the new government could reverse some parts of the fiscal plan it laid out last month. "There are absolutely no plans to change anything." Register now for FREE unlimited access to Reuters.com RegisterReporting by William James, writing by Muvija M; editing by Sarah YoungOur Standards: The Thomson Reuters Trust Principles.

The battered pound and government bonds rallied on Thursday as Prime Minister Liz Truss's government began re-examining a package for unfunded tax cuts that has sent borrowing costs surging and forced the Bank of England to intervene. Asked if the government was preparing to change course, he told Sky News: "I saw the prime minister yesterday. The prime minister and the chancellor are absolutely determined to deliver on the growth plan. The sense of chaos at the heart of government has fuelled speculation as to whether Truss and Kwarteng can survive. Truss was elected by the members of the party, and not the broader electorate, as the fourth prime minister in six politically turbulent years in Britain.

London CNN Business —UK Prime Minister Liz Truss will hold a news conference Friday amid widespread speculation that she’s getting ready to ditch a big part of her economic strategy unveiled just three weeks ago. Kwarteng flew back from the IMF meeting in Washington, D.C., on Friday for discussions with Truss about the plan. Under pressure, Kwarteng has already brought forward his full budget statement to Oct. 31, more than three weeks earlier than planned. But investors may not be prepared to wait that long for reassurance about the state of Britain’s public finances. — Luke McGee and Zahid Mahmood in London, and Xiaofei Xu in Paris contributed to this article

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