DIRS.INFO The most relevant business & tech news

☆ John Prescott, former UK deputy prime minister, has died, his family says
▼ + stars: | 2024-11-21 | by ( Story Reuters | ) edition.cnn.com time to read: 1 min

CNN —John Prescott, a former British deputy prime minister in Tony Blair’s Labour government, has died, his family said on Thursday. Prescott, 86, died following a battle with Alzheimer’s, his family said in a post on X. He served as deputy prime minister from 1997 to 2007. Prescott was one of Blair’s most colourful ministers and was known as a plain-speaking politician who bridged the divide between the traditional left-wing and the modernizers in the Labour Party.

Persons: John Prescott, Tony Blair’s, Alzheimer’s, Prescott Organizations: CNN, Tony Blair’s Labour, Labour Party Locations: British, Prescott

☆ Voters worldwide are angry about higher prices and keep punishing those in power
▼ + stars: | 2024-11-09 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +6 min

Incumbent governments have been punished in Britain, France, India, Japan, South Korea, and elsewhere. The near-universal shift away from Democrats echoes voters' rejection of incumbent political parties across the world this year. South Africa's African National Congress (ANC) party lost its majority. Similarly, Deutsche Bank's Reid wrote that voters are disappointed by how slowly their lives are improving amid cooler economic growth. He said they don't buy that incumbents can tackle immigration, some incumbent governments have had scandals, and voters have become "much more willing to change their vote from election to election."

Persons: Donald Trump's, Kamala Harris, —, Donald Trump, Biden, Harris, Narendra Modi, Korea's Democrat Party snagged, Jim Reid, Tina Fordham, Louis Perron, Deutsche Bank's Reid Organizations: Service, Democratic, Britain's Labour Party, Conservative Party, Rally, Japan's Liberal Democratic Party, Indian, Korea's Democrat Party, National Congress, ANC, Deutsche Bank, Fed, Bank of England, European Central Bank, CNN, Win, Deutsche Locations: Britain, France, India, Japan, South Korea, London, Tokyo, Seoul, Cape Town, Washington, Gaza, country's, South, Ukraine

☆ U.S. allies, haunted by past Trump insults, race to delete posts and praise election victor
▼ + stars: | 2024-11-07 | by ( Hannah Peart | Hannah Peart Is An Intern In The Nbc News London Bureau. | ) www.nbcnews.com time to read: +3 min

“A political pyromaniac who must be put before a criminal court,” Jean Asselborn, then-foreign minister for Luxembourg, said of Trump after the Jan. 6, 2021, Capitol riot. "Trump has ruined it all," Croatian President Zoran Milanović said, also in 2021. Following Trump’s election victory, at least two of these U.S. allies, the U.K. and Australia, have had to dial back some of their previous attacks. U.K. Foreign Secretary David Lammy in September. Charles Parton, who served as a British diplomat for almost four decades, said that “the Labour Party has got some grounds to make up” after a perception that Starmer's party had favored the Democrats.

Persons: Donald Trump's, Kevin Rudd, Trump, “, ” David Lammy, ” Jean Asselborn, Zoran Milanović, Rudd, ”, won’t, David Lammy, Neil Hall, government’s, Trump’s, Harris, Keir Starmer, Charles Parton, Parton, Nigel Farage Organizations: Capitol, Australian Government, Foreign, Bloomberg, Getty, ”, U.S, Relations, Labour Party, Trump, Federal, Commission, Labour, Democrats Locations: U.S, Luxembourg, Australia, United States, British

☆ Britain loves its 'special relationship' with the U.S. — but that doesn't mean Trump will love it back
▼ + stars: | 2024-11-07 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +6 min

London feels those long-standing bonds and geopolitical interests make its relationship with the U.S., well, special. Not so special anymoreDescribing the "special relationship" as one of convenience for the U.S., Pickering said the U.K. could still maneuver itself to be useful to an incoming Trump government. Whisper it, but the "special relationship" ceased to be special long ago, according to Holger Schmieding, chief economist at Berenberg. "That Trump and Starmer are apparently not fans of each other, to put it mildly, will not help in future U.S.-U.K. talks. Britain's Queen Elizabeth II greets U.S. President Donald Trump as he arrives for the Ceremonial Welcome at Buckingham Palace, in London, Britain June 3, 2019.

Persons: Donald Trump, Jeff J Mitchell, Keir Starmer, Trump, David Lammy, Starmer, Harris, Joe Biden, Kevin Lamarque, Badenoch, Lammy, Kallum Pickering, Peel Hunt, We're, we'll, Pickering, Holger Schmieding, Schmieding, Britain's Queen Elizabeth II, Victoria Jones Organizations: Getty, U.S, London, Britain's, Republican, Trump Tower, Trump, Atlantic, Labour Party, White, Reuters, Conservative Party, Republicans, Labour, European Union, China, Peel, CNBC, NATO Locations: London, New York, Washington, Europe, China, EU, U.S, America, Buckingham, Britain

☆ Kemi Badenoch wins Conservative leadership contest, pitching party to the right after blowout UK election loss
▼ + stars: | 2024-11-02 | by ( Rob Picheta | ) edition.cnn.com time to read: +9 min

Badenoch defeated Robert Jenrick in a vote of party members by 53,806 votes to 41,000, after a months-long contest to replace Rishi Sunak as leader. Her task now is to revive a party still coming to terms with its worst ever election result. A contentious campaignTwo Conservatives contested this election, but many in the Labour party feel like they won it. Kemi Badenoch is congratulated by her husband Hamish, Robert Jenrick and wife Michal Berkner after winning the Conservative Party leadership contest on Saturday. On policy, however, Badenoch is sure to drag the opposition party to the right.

Persons: CNN — Britain’s, Kemi Badenoch, Badenoch, Robert Jenrick, Rishi Sunak, She’s, Keir Starmer, ” Badenoch, Liz Truss, Sunak, Jenrick, Hamish, Michal Berkner, Dan Kitwood, Nigel Farage, Brexiteers, “, ” Starmer’s Organizations: CNN, Conservative Party, Labour, Tory, Conservatives, Conservative, Spectator, Reform, Britons, Liberal Democrats, BBC, European Union, European, Human, Starmer Locations: British, ”, Britain, Nigerian, Nigeria, McDonald’s, Badenoch, Europe, Rwanda

☆ Higher taxes will make it harder for Britain to build 'the next Nvidia,' tech execs say
▼ + stars: | 2024-11-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

The lower capital gains tax rate was increased to 18% from 10%, while the higher rate climbed to 24% from 20%. Reeves said the increases will help bring in £2.5 billion ($3.2 billion) of additional capital to the public purses. Still, Reeves said the U.K. would still have the lowest capital gains tax rate of any European G7 economy. watch nowReeves announced that the rate of tax on carried interest, which is charged on capital gains, would rise to 32%, up from 28% currently. She nevertheless urged the government to look seriously at mandating that pension funds diversify their allocation to riskier assets like venture capital — a common ask from VCs to boost the U.K. tech sector.

Persons: Rachel Reeves, Reeves, BADR, Paul Taylor, Taylor, Haakon Overli, Dawn Capital, Overli, Anne Glover, Glover, Clarity, Steve Hare, Sage, Sean Reddington, Reddington Organizations: Labour Party Conference, ACC Liverpool Convention Center, Anadolu, Getty, LONDON, Labour, CGT, National Insurance, Unicorn Council, Nvidia, Dawn, NVIDIA, Amadeus Capital, Wealth, Norway's, Fund Global, Saudi Arabia's Public Investment Fund Locations: Liverpool, British, Britain, VCs

☆ UK borrowing costs soar day after Labour government unveiled tax-raising budget
▼ + stars: | 2024-10-31 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

watch nowLONDON — U.K. bond yields spiked sharply Thursday after the ruling Labour Party unveiled a sweeping package of tax hikes and increased borrowing. Yields had already risen on Wednesday shortly after the budget announcement by Finance Minister Rachel Reeves, which contained plans for £40 billion ($52 billion) worth of tax hikes and committed to substantially higher borrowing in the coming years. Despite the big moves this week, the gilt market is remaining relatively stable compared to September 2022, when the U.K. suffered its so-called "mini-budget crisis." Analysts had said ahead of the October 2024 budget that such bond market volatility was unlikely to repeat itself, largely because the U.K. inflation has dropped sharply since the Truss era. Analysts at Goldman Sachs said Thursday it would "reduce the urgency for sequential cuts in the near term."

Persons: Rachel Reeves, We've, Liz Truss, Truss, Reeves, Goldman Sachs, Morgan, Andrew Sheets, BOE, Sterling Organizations: Labour Party, Labour, ING, Budget, Conservative Party, Bank of England, Goldman, CNBC, U.S Locations: London

☆ These stocks and bonds are set to win from the U.K.'s budget, analysts say
▼ + stars: | 2024-10-30 | by ( Ganesh Rao | ) www.cnbc.com time to read: +6 min

The U.K.'s Labour Party is set to unveil its national budget for the first time in 14 years later on Wednesday. Investment bank analysts have highlighted several stocks that could win or lose ground if the rumored measures are unveiled or curtailed. The Wall Street bank's analysts added that "U.K. long-dated yields might decline with easing budget uncertainty and continued inflation relief". The chancellor is reported to want to remove the inheritance tax relief available to investors holding stocks listed in this market in the Wednesday budget. Such a move may entice existing investors to sell the stocks, if the tax policy change likely impacts them.

Persons: Rachel Reeves, Goldman Sachs, Christian Mueller, Glissmann, Pound Sterling, Investec's Ben Newell, Alan Brierley, Investec's, Genuity, Canaccord Genuity, Alex Brooks, Justin Bates, Portia Patel, Michael Bloom Organizations: Labour, Finance, Investment, London Stock Exchange, Foresight, Fund, Greencoat, Renewables, Infrastructure, International, AIM, London Stock Exchange's, Technology Ashtead Tech Locations: United Kingdom

UK Finance Minister Rachel Reeves makes a speech during the Labour Party Conference that is held at the ACC Liverpool Convention Center in Liverpool, UK on September 23, 2024. LONDON — Nearly four months after taking office, the U.K.'s Labour government is set to unveil its debut budget on Wednesday, with markets braced for a major fiscal shake-up. "There's a huge amount of interest in this budget," Amanda Tickel, head of tax and trade policy at Deloitte U.K., told CNBC on Tuesday. Tickel forecast £35 billion ($45.4 billion) worth of tax rises and £5 billion in spending cuts to plug what Finance Minister Rachel Reeves says is a "big gap" in the budget. We haven't had a Labour government for 14 years, and they're going to want to make their mark on the tax system," she said.

Persons: Rachel Reeves, Amanda Tickel, haven't, we've, Reeves Organizations: Labour Party Conference, ACC Liverpool Convention Center, LONDON, Labour, Deloitte, CNBC Locations: Liverpool, London

☆ UK budget: Britain targets the wealthy as it hikes taxes by $52 billion
▼ + stars: | 2024-10-30 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

“Today, I am restoring stability to our public finances and rebuilding our public services,” Reeves said, arguing that the now-opposition Conservative Party had “failed” Britain, including by inadequately budgeting for required government spending. A black hole in the public finances. Public services on their knees. The government will instead introduce a new tax system for such individuals, raising £12.7 billion ($16.5 billion) over the next five years. The tax hike will eventually raise £25 billion ($33 billion) per year.

Persons: Rachel Reeves, ” Reeves, “, Reeves, Jeremy Hunt’s, Hunt Organizations: London CNN, Labour, Conservative Party, National Health Service, Labour Party, ’ National Insurance Locations: United Kingdom, “, Britain

☆ British lawmaker suspended from Labour Party after video shows apparent assault
▼ + stars: | 2024-10-28 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Ap-Live-Blog-Byline-Image.Png | The Associated Press | ) www.nbcnews.com time to read: +1 min

A member of the British Parliament was suspended Sunday by the Labour Party after a video appeared to show him punching and knocking a man to the ground. Mike Amesbury, 55, from Runcorn and Helsby in northwest England, was suspended pending an investigation into the incident that took place early Saturday morning. “Last night, I was involved in an incident that took place after I felt threatened on the street following an evening out with friends,” Amesbury said. Video had surfaced Saturday on social media that appeared to show Amesbury berating a man in the street. Pointing his finger at the man, Amesbury yelled: “You won’t ever threaten me again, will you?”Amesbury had said on social media Friday that he was attending a local meeting about policing and community safety.

Persons: Mike Amesbury, Amesbury, ” Amesbury Organizations: Labour Party, Mail, Amesbury, Cheshire police Locations: Runcorn, Helsby, England, Cheshire, Frodsham

☆ Mike Amesbury: Labour MP suspended after video shows him allegedly punching man in the street
▼ + stars: | 2024-10-28 | by ( Rob Picheta | ) edition.cnn.com time to read: +2 min

CNN —A British lawmaker has been suspended by the governing Labour Party after footage appeared to show him punching a man repeatedly on the street. Police are investigating the alleged attack by Mike Amesbury on Friday night, which first came to light after social media footage showed a brawl in the street following the alleged attack. Labour said Amesbury is assisting police with their inquiries, and that they have suspended the backbencher “pending an investigation.”Amesbury has been an member of parliament (MP) since 2017 in Cheshire, northwest England, where the alleged incident took place. He remains an independent member of the House of Commons after losing the party whip. A recall petition in their constituency, which could trigger a by-election, could take place if they were to receive a prison sentence.

Persons: CNN —, Mike Amesbury, Amesbury, “, ” Amesbury, ” Organizations: CNN, Labour Party, . Police, Daily Mail, Labour, Mail, Cheshire Police, ” Cheshire police, Reform Locations: Cheshire, England, Amesbury

☆ Britain's Labour government to deliver debut Budget this week, settling weeks of uncertainty
▼ + stars: | 2024-10-28 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

UK Finance Minister Rachel Reeves makes a speech during the Labour Party Conference that is held at the ACC Liverpool Convention Center in Liverpool, UK on September 23, 2024. LONDON — U.K. Finance Minister Rachel Reeves will deliver the government's hotly awaited debut budget on Wednesday, putting to bed weeks of uncertainty over potential tax hikes and spending cuts. Reports suggest that the Treasury could target public sector net financial liabilities (PSNFL) in the U.K.'s measure of debt, rather than public sector net debt. The PSNFL measure takes in a wider account of the government's balance sheet, including financial assets and liabilities, than public sector net debt. In a note Friday, Goldman Sachs estimated that the changes could increase the government's fiscal headroom by around £50 billion ($65 billion).

Persons: Rachel Reeves, — Labour's, —, Keir Starmer, Reeves, Goldman Sachs, Goldman sachs Organizations: Labour Party Conference, ACC Liverpool Convention Center, LONDON, Finance, Sky News, Financial Times, Treasury Locations: Liverpool

☆ US election: Britain’s ‘Special Relationship’ with America is getting complicated
▼ + stars: | 2024-10-27 | by ( Rob Picheta | ) edition.cnn.com time to read: +10 min

Trump launched an extraordinary spat with Labour on Wednesday, claiming through a lawyer they had been interfering in the election. But this week’s spat throws renewed scrutiny on the complicated and delicate “Special Relationship” between Britain and America. ‘We’re in a different world’The Trump campaign’s broadside against the Labour Party stunned Westminster this week. But unlike President Joe Biden, Harris’ political career has not been built around foreign policy. It would come down to (Starmer) and to the Labour Party, whether they want it or not.”

Persons: London CNN —, Kamala Harris, Labour’s Keir Starmer, Harris, ” Claire Ainsley, ” Ainsley, Donald Trump, Trump, ” Ed Owen, ‘, Nigel Farage, Liz Truss, Amanda Andrade, Rhoades, Reuters “, ”, Truss, Trump –, “ Harris, Keir, Josh Simons, Josh Freed, Starmer, “, Mike Tapp, ” Simons, Joe Biden, “ She’s, Biden, ” Starmer, Ainsley, ” Ricky Vigil, Owen, ” Tapp, admiringly, Queen Elizabeth II, Freed, Germany’s Olaf Scholz, Australia’s Anthony Albanese, France’s Emmanuel Macron, ” Freed Organizations: London CNN, CNN, Labour, Progressive, Institute, Democratic, Democratic National Convention, NATO, Home Office, Foreign, Trump, Labour Party, Westminster, Conservative Political, Reuters, Republican National Convention, Climate, Democrat, “ Labour, Conservatives, Conservative, Kyiv Locations: Britain, London, Ukraine, America, Maryland, British, Washington, DC, Westminster Westminster, Israel, populists, Russia, United Kingdom

☆ Trump ignites spat with US ally, accusing UK’s governing party of election interference
▼ + stars: | 2024-10-23 | by ( Rob Picheta | ) edition.cnn.com time to read: +6 min

But the Trump campaign did not present any new evidence that rules were broken. Labour, and the party’s Prime Minister Keir Starmer, quickly denied that the party funded the trips, insisting the campaigners traveled in a personal capacity at their own expense. But the Trump campaign elevated the dispute in heightened language on Wednesday. Trump has frequently attempted to deflect allegations that he has benefited from foreign electoral interference from countries including Russia. Starmer’s center-left Labour Party swept to power in Britain in a July general election, and has long held an informal but friendly relationship with the Democratic Party.

Persons: London CNN — Donald Trump’s, Kamala Harris ’, Washington’s, Harris, Trump, Keir Starmer, Starmer, “, they’re, Susie Wiles, ”, Kamala’s, ” Trump, Sofia Patel, Walz, Liz Truss, Joe Biden, ” Joe Biden, ” Starmer Organizations: London CNN, Federal, Commission, UK’s Labour Party, Labour Party, Labour, party’s, FEC, Trump, Labour Party staff, CNN, Democratic National Convention, DNC, Labour Party –, Trump . Former British, Democratic Party, United Nations General Assembly Locations: North Carolina , Nevada , Pennsylvania, Virginia, North Carolina, –, Russia, Starmer’s, Britain, New York

☆ UK's ultra-rich non-doms urge Italian-style tax regime to prevent wealth exodus
▼ + stars: | 2024-10-16 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +6 min

Mike Kemp | In Pictures | Getty ImagesLONDON — Britain's ultra-rich non-doms are urging the government to introduce an Italian-style flat-tax regime to prevent a wealth exodus, as their preferential status comes under threat in the upcoming budget. That differs from Italy's regime, which charges a recently doubled rate of 200,000 euros per year regardless of wealth bracket. Non-doms move their moneyReeves had previously said that scrapping the program could generate £2.6 billion ($3.38 billion) for the Treasury over the course of the next government. We need to understand that we need people to be investing here, to create the jobs, wealth, prosperity that we want. Labour courts wealth creatorsThe Labour government has said it is determined to address unfairness in the tax system, pledging in its election manifesto to close non-dom tax loopholes.

Persons: Mike Kemp, Leslie MacLeod Miller, Rachel Reeves, Reeves, Alex Stewart, doms, Sadiq Khan, MacLeod Miller, Dominic Lawrance, Charles Russell Speechlys, Keir Starmer Organizations: Porsche, GTS, Chanel, Bond, Investors, Britain, Oxford Economics, Foreign Investors, CNBC, Labour Party, Treasury, FIFB, Oxford, Labour, Labour's, Investment Locations: London, United Kingdom, IHT, Italy, Switzerland, Dubai, Westbourne, Bayswater, Royal Oak

“The overall trend is unmistakable: The far right is gaining ground,” said Matthijs Rooduijn, a politics professor at the University of Amsterdam. But recent elections have seen the far right increasingly usurp centrist conservatives as the main right-wing force. “But that potential upper limit just keeps increasing.”The far right is “no longer second fiddle to the main right-wing party. Centrists can sometimes cobble together coalitions to keep out the far right — even if those parties are smaller individually. Whereas in France, Le Pen was kept from victory in June-July parliamentary elections by an intricate network of tactical voting between erstwhile rivals.

Persons: Donald Trump, remigrate, Geert Wilders, ”, Matthijs Rooduijn, ” Wilders, “, Le Pen, Wilders ’, Le, ” It’s, Björn Höcke, Jens Schlueter, Nadia Urbinati, Markus Wagner, ” Wagner, Jordan Bardella, Benjamin Girette, Herbert Kickl Organizations: U.S, Austria’s Freedom Party, NBC News, France’s National, Marine, University of Amsterdam, University of Georgia, London, Dutch Party for Freedom, France “, jihadists, NBC, Germany, Nazi, Ukraine —, Columbia University, Labour Party, ”, University of Vienna, France’s Rassemblement National, Bloomberg, Getty, Austrian People’s Party Locations: Germany, European, Europe, East, North Africa, France, Britain, “, Austria

☆ UK leader Keir Starmer is marking 100 days in office. It has been a rocky ride
▼ + stars: | 2024-10-13 | by ( ) www.cnbc.com time to read: +5 min

Britain's Prime Minister Keir Starmer gives a media interview while attending the 79th United Nations General Assembly at the United Nations Headquarters in New York, U.S. September 25, 2024. British Prime Minister Keir Starmer marks 100 days in office Saturday with little cause for celebration. Starmer has traveled to Washington, the United Nations and European capitals as he seeks to show that " Britain is back " after years of inward-looking wrangling over Brexit. Reeves has ruled out increasing income tax, sales tax or corporation tax, but also says there will be no "return to austerity" — a hard circle to square. "I don't think people have that much of a sense of what Keir Starmer or indeed Labour is about.

Persons: Keir Starmer, freebies, Tim Bale, Starmer, Taylor Swift, Sue Gray, Morgan McSweeney, Gray, —, McSweeney, Anand Menon, Rachel Reeves, Reeves, Downing, It's, Bale, it's Organizations: Britain's, 79th United Nations General Assembly, United Nations Headquarters, British, Labour Party, Labour, Conservative Party, Queen Mary University of London, Conservative, Health Service, United Nations, Conservatives, Government, Downing, Downing St, BBC Locations: New York, U.S, Rwanda, Washington, United Kingdom, Ukraine, England, Northern Ireland

☆ Alex Salmond, leading figure in Scottish independence movement, dies at age 69
▼ + stars: | 2024-10-12 | by ( Lauren Kent | Natasha Maguder | ) edition.cnn.com time to read: +3 min

London CNN —Former Scottish First Minister Alex Salmond has died at 69, according to statements from Scotland’s main political parties and UK media reports. Salmond was taken ill while in North Macedonia, collapsing after delivering a speech on Saturday, according to British media reports. For many years he was the father of the nation and for several years he has been a father-like figure to me. British Prime Minister Keir Starmer said: “For more than 30 years, Alex Salmond was a monumental figure of Scottish and UK politics. After losing his seat in parliament, Salmond remained a major figure in both Scottish and British politics, working as a commentator and hosting the Alex Salmond Show on Russian state broadcaster RT.

Persons: Alex Salmond, Salmond, “, Alex, Alex Salmond’s Alba, Chris McEleny, Keir Starmer, ” Salmond, Nicola Sturgeon, Alex Salmond’s, ”, Anas Sarwar, “ Alex Organizations: London CNN — Former Scottish, Scotland, British, Scottish, First, Alba Party, RT, Bute House, Daily, Scottish Labour, Scottish National Party, CNN Locations: North Macedonia, Scotland, British, Bute, Scottish

☆ Voting in the UK and French elections taught me a concerning lesson that Americans should heed when heading to the polls
▼ + stars: | 2024-10-10 | by ( Benjamin Chadwick | ) www.businessinsider.com time to read: +10 min

Benjamin Chadwick — a dual citizen of France and the UK — voted in two national elections this year. Emmanuel Macron ran with a centrist campaign, while Marine Le Pen, leader of the National Rally, campaigned on anti-immigration and nationalist ideals. Related storiesLe Pen became leader of France's right-wing populist "National Front" party in 2011 and renamed it "National Rally" in 2018. AdvertisementIn the lead-up to the UK election on July 4, opinion polls predicted a huge majority for the center-left Labour Party. In France, I feared the National Rally would capitalize on their European victory and take control of the Assembly.

Persons: Benjamin Chadwick —, there's, —, Emmanuel Macron, Pen, Macron, Le, I've, France's, Boris Johnson, Donald Trump, Trump, Liz Truss, Sunak, Rishi Sunak's, he's, Le Pen's, Nigel Farage, I'm, Kamala Harris Organizations: Service, European Union, National, Conservatives, Labour Party, National Rally, EU, Conservative, Britons, Labour, Reform, Populist, Trump Locations: France, England, Paris, Trump, Brexit, Europe, Britain, Johnson's, stoke

☆ UK PM Starmer's chief of staff quits after talk of in-fighting
▼ + stars: | 2024-10-07 | by ( ) www.cnbc.com time to read: +1 min

British Prime Minister Keir Starmer reacts as he meets with Defence Secretary John Healey and Member of the House of Lords George Robertson at 10 Downing Street on July 16, 2024 in London, England. British Prime Minister Keir Starmer's chief of staff Sue Gray resigned on Sunday following rumors about tensions within his team of advisers that cast a shadow over his government little more than three months after a landslide election victory. Starmer led the Labour Party to a sweeping victory in July, promising discipline and change after 14 years of Conservative Party rule. But his time in office has already been dogged by criticism of free gifts from wealthy donors that he and other Labour politicians received. Gray will take up a new post as Starmer's envoy for the regions and nations, the prime minister's office said.

Persons: Keir Starmer, John Healey, George Robertson, Keir Starmer's, Sue Gray, Gray, Starmer Organizations: British, Defence, Downing, Labour Party, Conservative Party, Labour Locations: London, England, British, Downing

☆ UK Prime Minister Keir Starmer attempts government reset less than 100 days into office
▼ + stars: | 2024-10-07 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +4 min

Britain's Prime Minister Keir Starmer speaks at a press conference, during his visit to the European Commission headquarters on October 2, 2024 in Brussels, Belgium. LONDON — British Prime Minister Keir Starmer is seeking to reset his government and recover from a shaky first 100 days in office beset by policy misfires, doom mongering and a "freebie" scandal. "A challenge for the prime minister lies in the fact No. Keir Starmer now needs to show he's got control," he added. Former Finance Minister Jeremy Hunt has denied the claims as "fictitious."

Persons: Keir Starmer, Starmer, Sue Gray, Gray, Morgan McSweeney, Downing, James Lyons, Phillip Blond, thinktank, Tony Travers, Travers, he's, Rachel Reeves, Reeves, Jeremy Hunt Organizations: Britain's, European Commission, LONDON, Labour, CNBC, London School of Economics, Labour Party, Conservative, Treasury, Conservative Party, Former, Citi, KPMG, Employment Locations: Brussels, Belgium, TikTok, Ukraine

☆ Tensions rise between banks and tech companies over online fraud liability in the UK
▼ + stars: | 2024-10-07 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

Meta is facing calls from U.K. banks and payment firms like Revolut to financially compensate people who fall for scams on their services. Proposals to make tech firms liableTensions have been running high between banks and tech companies for some time. A key ask has been for the tech firms to share more detailed intelligence on how criminals are abusing their platforms. Social media firms not doing enough to combat and remove attempts to defraud internet users was another complaint from regulatory authorities at the event. Jones added that it was tough to "break the inertia" at tech companies to "really get them to get after it."

Persons: Jaap Arriens, it's, Meta, Woody Malouf, Matt Akroyd, Kate Fitzgerald, Rob Jones, Jones Organizations: Nurphoto, Getty, Systems, PSR, Payments Association, Facebook, NatWest, Metro Bank, Financial Times, Labour Party, CNBC, Stewarts, Social, Economic Crime, U.K, National Crime Agency, Tech, Meta, Intelligence Locations: London

☆ Britain cedes disputed islands to Mauritius, securing key U.S. military base
▼ + stars: | 2024-10-04 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +4 min

President Joe Biden welcomed the deal, saying it would secure the effective operation of Diego Garcia, a strategically important air base in the Indian Ocean, into the next century. But critics in Britain said it was a capitulation that played into the hands of China, which has close trade ties with Mauritius. Britain, which has controlled the region since 1814, detached the Chagos Islands in 1965 from Mauritius — a former colony that became independent three years later — to create the British Indian Ocean Territory. The new agreement said Mauritius would be free to implement a program of resettlement on the islands other than Diego Garcia, with the terms left for Port Louis to decide. David Blagden, associate professor of international security and strategy at Britain’s University of Exeter, said the deal was a “big win” for Mauritius.

Persons: Diego Garcia, Joe Biden, David Lammy, “, ” Lammy, Biden, ”, Diego Garcia’s, Port Louis, Pravind Jugnauth, Olivier Bancoult, ” “, Keir Starmer, Tom Tugendhat, Britain’s, ” Robert Jenrick, Matthew Miller, ” Miller, David Blagden, ‘ Organizations: British, Mauritius —, United Nations General Assembly, Diego, Port, Refugees Group, Facebook, Labour Party won, Conservative Party, Conservative, State, Britain’s University of Exeter, Port Louis Locations: Mauritius, Britain, China, Africa, Iraq, Afghanistan, United States, Ocean, Seychelles, Mauritian, Beijing

☆ Britain's defense sector vies for stretched government funding on path to 2.5%
▼ + stars: | 2024-10-04 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Liverpool, ENGLAND — British defense officials are vying to secure more funding as Finance Minister Rachel Reeves' upcoming Autumn budget risks exacerbating already beleaguered efforts to boost military investment. Maria Eagle, the U.K.'s minister of defense procurement, joined a chorus of voices that called on the sector to prove that it could be more efficient under the new government, as the Treasury grapples with allocating its stretched finances. Meanwhile, the war in Ukraine has cast a spotlight on deep inefficiencies within Britain's defense sectors, provoking calls for reform. A 72-page House of Lords report published Thursday last week warned of "burdensome bureaucracy" in military recruitment and "cumbersome" procurement processes. Unless "laser-sharp priorities" are set, even 2.5% might not be enough to meet the country's defense needs, it said, adding that the government must acknowledge the essential need for higher defense spending and communicate that to the public.

Persons: Sir Keir Starmer, Rachel Reeves, Maria Eagle, We've, Eagle, Let's, Keir Starmer, — Organizations: RAF, Armed Forces, Treasury, Labour Party, NATO Locations: Oxfordshire, Liverpool, ENGLAND, Ukraine

Search resuls for: "Labour Party"

25 mentions found