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☆ HS2: Britain's high-speed rail fiasco reflects grim economic reality
▼ + stars: | 2023-10-05 | by ( Mark Thompson | ) edition.cnn.com time to read: +6 min

“Our plan will drive far more growth and opportunity here in the north than a faster train to London ever would,” he said Wednesday. Some of the alternatives Sunak highlighted were predicated on the delivery of HS2, said Henrietta Bailey, CEO of Greater Birmingham Chambers of Commerce. “This is the biggest and most damaging U-turn in the history of UK infrastructure,” the High Speed Rail Group, which represents companies such as Siemens, Hitachi and Bombardier, said in a statement. “The decision … sends a hugely disappointing message about our commitment to completing major infrastructure projects in the UK,” said Stephen Phipson, chief executive of Make UK, which represents manufacturing firms. The country must hope that his latest policy reversal doesn’t deter investors and further undermine a struggling UK economy, perpetuating a doom-loop of weak growth and underinvestment.

Persons: Rishi Sunak, Sunak, ”, Henrietta Bailey, Stephen Phipson, Mark Allen, ” Sunak, —, Liz Truss, he’s, Sunak blinked, James Mason, ” — Hanna Ziady Organizations: London CNN —, Leeds, Birmingham Chambers of Commerce, HS2 —, Conservative, Speed Rail Group, Siemens, Hitachi, Bombardier, Make, Investors, Treasury, Business Locations: England, United Kingdom, London, Germany, France, Italy, China, Japan, Edinburgh, Birmingham, Manchester, Britain, West, North Yorkshire

☆ HS2: UK PM Rishi Sunak slashes giant rail project as business warns of blow to credibility
▼ + stars: | 2023-10-04 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —UK Prime Minister Rishi Sunak has taken the axe to Britain’s biggest current infrastructure project, despite warnings from business leaders that the U-turn will damage investor confidence in the country. “This means £36 billion of investment in the projects that will make a real difference across our nation,” he added. “Any deviation could result in a loss of investor trust, and this would have a considerable negative impact on the UK. The ambitious HS2 project falls into this category.”The U-turn was also blasted by Richard Walker, the boss of supermarket chain Iceland, and until recently a long-time Conservative Party member. The government’s “evident inability” to deliver on major projects “is devastating to both its credibility and to business confidence,” Walker wrote in The Guardian newspaper Sunday.

Persons: Rishi Sunak, Sunak, ” Sunak, Andy Street, We’ve, Tom Wagner, Wagner, ”, Richard Walker, ” Walker Organizations: London CNN —, Manchester —, Conservative Party Conference, Conservative Party, Conservative, Investors, LBC, Knighthead Capital Management, Birmingham City football, The Guardian, “ Locations: London, Birmingham, Manchester, United Kingdom, England, Iceland

☆ Government bonds are in a rout worldwide. Here's why you should care
▼ + stars: | 2023-10-04 | by ( Anna Cooban | ) edition.cnn.com time to read: +7 min

When official interest rates rise, so do investors’ expectations for returns on bonds, known as yields. In the United Kingdom, the yield on 30-year bonds also reached 5% this week, the highest level in more than two decades. Yields on Italy’s 10-year bonds hit 5% on Wednesday, the highest level since 2012, when that crisis was in full swing. Mortgage rates riseThe yields on local government bonds are usually used by banks to price mortgages. High official interest rates in America and Europe have also raised the cost of borrowing for businesses.

Persons: Saul Loeb, Liz Truss, —, Matt Cardy, Freddie Mac, Andrew Sheets, Morgan Stanley, Stocks, ” Russ Mould, AJ Bell, we’ve, ”, “, That’s, ” Susannah Streeter, Hargreaves Lansdown Organizations: London CNN, US Treasury Department, Getty, UK, CNN, Nasdaq, Federal Reserve, BlackRock, Hargreaves Locations: Washington ,, United Kingdom, Bath, England, United States, Europe, America

☆ Britain’s PM seeks to rally his party ahead of an election they are tipped to lose
▼ + stars: | 2023-10-01 | by ( Luke Mcgee | ) edition.cnn.com time to read: +7 min

London CNN —Rishi Sunak will gather with members of his governing Conservative Party on Sunday for what is likely to be their final party conference before the UK’s next general, which Sunak is currently projected to lose. Party conference season is an important date fixture in the annual British political calendar. For the governing party, conference is typically a time when members rally around the leadership and unite against the opposition, insulated from whatever is happening in the wider world of politics. Boris Johnson and Rishi Sunak led the UK government through much of the Covid pandemic. Prime Minister Rishi Sunak speaking in June on his plan to "stop the boats."

Persons: Rishi Sunak, Sunak, Boris Johnson, Dan Kitwood, Priti Patel, Margaret Thatcher, Johnson, Rishi, Reuters Johnson, He’s, ”, Yui Mok, “, Will Jennings, it’s, Brexit, Jeremy Corbyn Organizations: London CNN, Conservative Party, Conservatives, Labour Party, for Fiscal Studies, Party, Conservatives ’, British, Conservative, Daily Mail, Greenpeace, Reuters, University of Southampton, Labour Locations: tacking, Sunak, France, “, Manchester

☆ Trump is attacking electric vehicles. Automakers already bet their future on them
▼ + stars: | 2023-09-28 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +8 min

Legacy automakers are pivoting to electric vehicles in response to expected strong consumer demand, tougher environmental regulations both from US states and foreign countries, and a push from Wall Street. Electric vehicles have outpaced growth of traditional internal combustion engine (ICE) cars in recent years. But automakers bucked Trump and agreed to meet tougher standards set by California rather than the Trump administration’s rules. At a Detroit battery plant Wednesday, Trump said America didn’t need what the factory produced“This plant, we just walked through this plant and the electric vehicles are gonna put [automakers] out of business,” Trump said. Trump’s proposals could undermine US companies’ EV investments and hand over control of an increasingly EV future to foreign manufacturers.

Persons: Donald Trump, Donald Trump’s, “ don’t, Trump, ’, ”, Barry Rabe, EVs, Brian Kemp, Ford, Rabe, Biden’s, Tesla, Jon McNeill, McNeill, ” McNeill, EVs Trump, bucked Trump, ” Trump, “, Biden, Rishi Sunak, Lisa Brankin Organizations: New, New York CNN, Detroit, Cox Automotive, Biden, Environmental Protection Agency, University of Michigan, Hyundai, Kia, EV upstarts, Republican Gov, Environmental Defense Fund, Nissan, Mercedes, Benz, Wall, Investors, ICE, General Motors, GM, Biden’s EV, Legacy, DVx Ventures, Tesla, Obama, Trump, America, ” Ford, Fiat, Peugeot Locations: New York, Georgia, South Carolina, Alabama, United States, California, Detroit, Michigan, China

The UK goal was ahead of the 2035 ban in the European Union, where most British-made cars are sold. "The timing sends the message that things can change again, making it difficult for companies to manage their investment strategies." Under the new mandate that the government could make public as early as this week, the 80% 2030 electric target should remain - with the other 20% a mixture of fossil fuel models and hybrids until 2035. "In Britain, there's no industrial strategy, no intent for industrial strategy and no desire for an industrial strategy," Palmer said. "The UK (fossil fuel ban) delay is not a good sign in terms of stability, but they have realigned with EU regulation," said Denis Schemoul, director of European vehicle forecasting at S&P Global Mobility.

Persons: Rishi Sunak, Christopher Furlong, Boris Johnson, Sunak, it's, Philip Nothard, ZEV, Andy Leyland, Adrian Keen, Keen, Andy Palmer, Aston Martin, Palmer, Denis Schemoul, Nick Carey, Barbara Lewis Organizations: Britain's, Rover, Industry, Union, EV, European Union, Cox Automotive, Volvo, Ford, EU, P Global Mobility, Thomson Locations: Warwick , England, British, Britain, EVs, Europe, Spain

London CNN —London’s Metropolitan Police said it has launched an investigation into allegations of “non-recent” sexual offenses in the United Kingdom, after a joint investigation by British media outlets revealed the comedian Russell Brand was accused of rape and sexual assault. “We have also received a number of allegations of sexual offences committed elsewhere in the country and will investigate these. One of the women said she was 16 and Brand was 31 at the time of the alleged assault in London. The Met announced last week that they were investigating an allegation of sexual assault in 2003. Without naming Brand, a Met spokesperson said: “We are aware of reporting by The Sunday Times and Channel 4’s Dispatches about allegations of sexual offenses.

Persons: Russell Brand, “, Brand, Andy Furphy, ” Brand, James Manning, Covid, Downing, ”, Rishi Sunak’s Organizations: London CNN — London’s Metropolitan Police, British, Sunday Times, Met’s, Crime Command, Park, AP Brand, YouTube, The Times, CNN, Police, Met Police, ”, The Met, The Sunday Times, Met Locations: United Kingdom, London, Los Angeles, Soho

☆ UK Interior Minister to Raise 'Unsustainable' Migration Pressures During U.S. Visit
▼ + stars: | 2023-09-23 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +2 min

LONDON (Reuters) - British interior minister Suella Braverman will raise the "the unsustainable pressures" created by illegal migration when she makes a three-day visit to the U.S. this week, her office said on Sunday. "Illegal migration and the unprecedented mass movement of people across the globe is placing unsustainable pressures on America, the UK and Europe," Braverman said in the statement. Almost 45,000 people were detected arriving by small boats in the 12 months to June, a 26% year-on-year rise, according to official data. Braverman, who will travel to Washington on Monday, will seek closer collaboration with the U.S. on addressing illegal migration and organised immigration crime. "I'm going to Washington to discuss this (illegal migration) crisis with our American counterparts.

Persons: Suella Braverman, Braverman, Rishi Sunak, Biden, Alejandro Mayorkas, Muvija, Mike Harrison Organizations: Home Office, U.S, Homeland, American Locations: Britain, America, Europe, Rwanda, U.S, Mexico, Washington

☆ Want to live in London or New York? Good luck if you’re renting
▼ + stars: | 2023-09-23 | by ( Anna Cooban | ) edition.cnn.com time to read: +7 min

London CNN —In May, Viveca Chow hurriedly transferred $3,700 over her phone while standing in the lobby of a building in Queens, New York. Average rents in New York and Sydney grew by an inflation-busting 4.7% and 6.9% respectively in the year to August, according to real estate firm Knight Frank. While growth in rental costs in both cities has slowed compared with its pandemic peaks, average rents are still at all-time highs. The Manhattan skyline reflected on the East River Ferry near the Queens borough of New York CIty in August 2022. Lifestyle influencer Viveca Chow feels lucky to have found a rent-stabilized apartment in New York City.

Persons: Viveca Chow, Chow, Knight Frank, Ismail Ferdous, Realtor.com, SpareRoom, Barnaby Scudds, “ I’m, ”, Andy Raim, Matt Hutchinson, ” Hutchinson, Liam Bailey, ’, Sadiq Khan, Nikodem Szumilo, ” Szumilo, Szumilo, Viveca, ” Chow, you’re Organizations: London CNN —, CNN, Bloomberg, Getty, Hamptons, Office, National Statistics, Bartlett Real Estate Institute, University College London Locations: Queens , New York, New York, Sydney, Manhattan, Queens, London, United Kingdom, Bartlett, Tokyo, New York City, That’s

☆ Suella Braverman, UK interior minister, to raise 'unsustainable' migration pressures during U.S. visit
▼ + stars: | 2023-09-23 | by ( ) www.reuters.com time to read: +2 min

Home Secretary Suella Braverman walks on Downing Street on the day of a cabinet meeting, in London, Britain September 5, 2023 REUTERS/Peter Nicholls/File Photo Acquire Licensing RightsLONDON, Sept 24 (Reuters) - British interior minister Suella Braverman will raise the "the unsustainable pressures" created by illegal migration when she makes a three-day visit to the U.S. this week, her office said on Sunday. "Illegal migration and the unprecedented mass movement of people across the globe is placing unsustainable pressures on America, the UK and Europe," Braverman said in the statement. Braverman, who will travel to Washington on Monday, will seek closer collaboration with the U.S. on addressing illegal migration and organised immigration crime. "I'm going to Washington to discuss this (illegal migration) crisis with our American counterparts. If we fail to meet these challenges, then our political institutions risk losing their democratic legitimacy," Braverman said.

Persons: Suella Braverman, Peter Nicholls, Braverman, Rishi Sunak, Biden, Alejandro Mayorkas, Muvija, Mike Harrison Organizations: REUTERS, Home Office, U.S, Homeland, American, Thomson Locations: London, Britain, America, Europe, Rwanda, U.S, Mexico, Washington

☆ Roman Abramovich and ex-wife Dasha Zhukova amassed a 'stupendous' art collection worth almost $1 billion, leaked documents reveal
▼ + stars: | 2023-09-23 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

Roman Abramovich and his ex-wife have an art collection worth close to $1 billion, leaked documents revealed. Works by Freud, Hockney, and Picasso are among the 367 items in the collection, The Guardian reported. Before oligarchs' assets were seized by the UK last year, Zhukova took majority control of the collection. Filip FilipovicAbramovich was among seven Russian oligarchs sanctioned by the UK in March last year. His assets, including Chelsea soccer club, were frozen and his $700 million superyacht, on which pieces from the art collection are believed to be displayed, was seized.

Persons: Roman Abramovich, Freud, Hockney, Picasso, Zhukova, Dasha, OCCRP, Monet, Andrew Renton, Francis Bacon's, Abramovich, Lucian Freud's, Cate Gillon, Vladimir Putin's, Putin's, Filip Filipovic Abramovich, Meritservus Organizations: Guardian, Service, The Guardian, Goldsmiths, University of London, Chelsea soccer, Government Locations: Wall, Silicon, Cyprus, London, Ukraine, Britain

☆ Russell Brand makes first public comments since sexual assault allegations
▼ + stars: | 2023-09-23 | by ( Sophie Tanno | ) edition.cnn.com time to read: +2 min

CNN —Russell Brand has made his first public comments since being accused of rape and sexual assault, thanking followers for “questioning the information they have been presented with” while not addressing the claims. Last Saturday, British outlets The Sunday Times, The Times and Channel 4’s “Dispatches” published a joint investigation in which four women alleged Brand sexually assaulted them in separate instances between 2006 and 2013. One of the women said she was 16 and Brand was 31 at the time of the alleged assault in London. One woman was treated at a rape treatment center the same day as the alleged assault, according to the report. “By now you’re probably aware that the British government have asked big tech platforms to censor our online content and that some online platforms have complied with that request,” he said.

Persons: CNN — Russell Brand, ”, Brand –, Brand, Brand preemptively, Covid Organizations: CNN, Sunday Times, The Times, Police, YouTube Locations: British, London, Los Angeles

Benefiting from the highest interest rates since 2008, pension funds are better funded to meet future payouts than they have been in years. Because insurers hold a lot less government debt than pension funds, favouring higher-return assets such as corporate debt, they are expected to sell some of the gilts they receive. It is selling 240 billion pounds of debt this year, a record, save for 2020-21. Helped by the pension fund demand of past years, Britain's average debt life is around 15 years, more than double the U.S. and Germany's. Britain has already started skewing its funding towards shorter debt this year, citing high borrowing needs, a move investors reckon also reflects declining pension fund appetite.

Persons: Dado Ruvic, BoE, gilts, Chris Jeffery, Lane Clark, Peacock, Barry Kenneth, Van Lanschot, Arif Saad, Craig, Owen Davies, LGIM's Jeffery, Yoruk, Carolyn Cohn, Dhara Ranasinghe, Toby Chopra Organizations: REUTERS, Bank of England, Legal, General Investment Management, Fund, Investment, Royal London Asset Management, Investors, Yoruk Bahceli, Thomson Locations: gilts, Germany's, Britain, Amsterdam, London

☆ Morning Bid: Edgy market calm after worst day of 2023
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +5 min

The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., U.S., June 14, 2022. World stocks captured by MSCI's all-country index (.MIWD0000PUS) recorded their worst day of the year so far - dropping 1.69%. The yen fell back again but the dollar/yen rate remained below Thursday's 2023 high of 148.45. The pound hit its lowest level since March and 10-year British gilt yields fell to their lowest level since July. Elsewhere, oil prices nudged higher again on Friday as concerns that a Russian ban on fuel exports could tighten global.

Persons: Sarah Silbiger, Mike Dolan Punch, Rupert Murdoch, Lisa Cook, Susan Collins, Neel Kashkari, Mary Daly Organizations: Eccles Federal Reserve, Washington , D.C, REUTERS, Bank of Japan, Fed, European Central Bank and Bank of England, Treasury, Sterling, of, Activision Blizzard, Markets Authority, Ubisoft, Cisco Systems, Cisco, Fox Corp, News Corp, JPMorgan, Federal Reserve, Boston, Minneapolis Fed, San Francisco Fed, Reuters Graphics Reuters, Reuters, Thomson Locations: Washington ,, U.S, Australia, Britain, United States, India

☆ Green energy’s tailwinds blow the other way
▼ + stars: | 2023-09-22 | by ( Peter Thal Larsen | ) www.reuters.com time to read: +7 min

Falling costs, cheap capital and supportive politicians helped propel a headlong rush into renewable power. As relations with China deteriorate, the United States and Europe are increasingly concerned about the country’s grip on parts of the green energy supply chain. In recent roundtable discussions moderated by Breakingviews on both sides of the Atlantic, participants expressed optimism about the momentum of investment in green energy. The IRA has unleashed a green energy boom. The world can ill afford to relax its embrace of green power.

Persons: Rishi Sunak, –, Joe Biden’s, Jared Cohen, Goldman Sachs, Breakingviews, carmaker Ford, Rishi Sunak’s, Pennsylvania’s Penn, George Hay, Sharon Lam, Aditya Sriwatsav Organizations: Britain's, Downing, Reuters, Global, International Energy Agency, International Renewable Energy Agency, Energy, Commission, Applied Innovation, Goldman, Amperex Technology, Companies, British, MIT’s Center for Energy, Environmental, Research, University, Pennsylvania’s, Thomson Locations: London, Ukraine, U.S, China, United States, Europe, People’s Republic, Vietnam, Mexico

Paris CNN —King Charles and Queen Camilla have just wrapped up their long-awaited state visit to France, spending their final day in the southwest of the country. The royal trip to France has been seen by many as a continuation of the two neighbors' efforts to reset relations in a post-Brexit world. French President Emmanuel Macron rolled out the red carpet for King Charles III. Another element that looks likely to become a staple of state visits from King Charles is the focus on green issues. Throughout the trip, French news broadcasters went into daily special programming, with their commentators dissecting every move in their hours-long coverage.

Persons: Paris CNN — King Charles, Queen Camilla, Charles, Camilla, Daniel Leal, It’s, Queen, Emmanuel Macron, Charles ’, King Charles III, Christian Liewig, Russia’s, Ian Vogler, King Charles, Samir Hussein Organizations: CNN’s Royal, Paris CNN, Royal Navy, Getty, Paris, Palais du, Berlin’s Bundestag, French Locations: Paris, France, Bordeaux, Britain, Germany, British, Triomphe, Palais, Palais du Luxembourg, –, France's, AFP

☆ A small New York hedge fund has secretly managed $7 billion for a Russian oligarch for over a decade, the SEC says
▼ + stars: | 2023-09-22 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

The SEC this week charged a small New York hedge fund with acting as an unregistered investment advisor. Concord Management earned tens of millions of dollars advising a Russian tycoon, the SEC said. The New York Times said the businessman in question was the former Chelsea FC owner Roman Abramovich. The regulator added that since 1999, Concord had made over $80 million managing the client's assets, which, as of January 2022, were worth $7.2 billion. The New York Times reported Tuesday that Concord had managed money for the oligarch Roman Abramovich, citing a person familiar with the matter.

Persons: Roman Abramovich, Michael Matlin, Matlin, Abramovich, Vladimir Putin Organizations: SEC, Concord Management, The New York Times, Chelsea FC, Service, Securities and Exchange Commission, Russian, Russian Federation, New York Times, Concord, European Union, English Locations: York, Russian, Wall, Silicon, Moscow, Westchester County, Concord, United Kingdom, Chukotka, Russia, Kremlin, Ukraine

☆ Reactions: Bank of England bashes pound after halting rate rises
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +8 min

A pedestrian carrying an umbrella walks near the Bank of England in the City of London, Britain, July 30, 2023. Investors had already rushed on Wednesday to reel in their bets on further UK rate rises after data showed UK inflation cooled surprisingly quickly in August. Against the euro , the pound was down 0.5% at 86.74 pence, having traded around 86.70 pence before the decision. "The MPC still refers to its flexibility to react should things change, but the chances are this could be the peak in this UK interest rate cycle." "However, there is a risk that the ‘lag effect’ on interest rate hikes means that today’s decision may not be felt for another 9 to 12 months."

Persons: Hollie Adams, Sterling, THOMAS, Huw Pill's, HUGH GIMBER, PHILIP SHAW, DOUGLAS GRANT, JEREMY BATSTONE, CARR, RAYMOND JAMES, FRANCES HAQUE, JOE TUCKEY, RICHARD GARLAND, GILES COGHLAN, BoE, stagflation, Amanda Cooper, Dhara Organizations: Bank of England, City of, REUTERS, London, Investors, Bank of, Bank, MPC, SANTANDER, LONDON, Core CPI, PMI, CPI, EMEA, Thomson Locations: City, City of London, Britain, London, MANX, EUROPEAN, FRANCE, GROUP, OXFORDSHIRE

☆ ‘Everyone is in the same boat’: Is designing fashion worth going into debt?
▼ + stars: | 2023-09-20 | by ( Leah Dolan | ) edition.cnn.com time to read: +8 min

Kylie Jenner is a known favorite, too, choosing a Spring-Summer 2023 look to wear during Paris Fashion Week last September; as well as posing in custom pieces for her 399 million Instagram followers. It’s as simple as that,” Findikoglu told CNN during an interview outside her east London studio on the first day of London fashion week. While 31-year-old American designer Michael Halpern — who has received two British Fashion Awards in his career — announced just last week that not only would his label be skipping London Fashion Week, but that it plans to close for good. Findikoglu believes more financial help should be available to all brands on the London fashion week schedule. I’m not going to come to the studio in my knife dress, you know?”A model walks the runway at the Dilara Findikoglu show in the avant garde knife dress during London Fashion Week February 2023.

Persons: Dilara Findikoglu, Olivia Rodrigo, Findikoglu —, —, Lady Gaga, Madonna, Bella Hadid, She’s, Margot Robbie, Barbie, Hari Nef, Kylie Jenner, Cardi, MTV VMAs, Taylor Hill, “, ” Findikoglu, I’m, she’s, ” Margot Robbie's corseted, Findikoglu, Stuart C, Wilson, Steven Stokey, Daley, S.S Daley, Michael Halpern —, ”, Loewe, Louis Vuitton, Dior, Celine, Fendi, Marc Jacobs, Gucci, Balenciaga, Alexander McQueen, Saint Laurent, David M, it’s, I’ve, Cameron Smith Organizations: CNN, London CNN, MTV, Stone Magazine, Awards, London, Central Saint Martins, Savigny Partners, Brands, British Fashion Council, BFC, Getty Locations: London, Turkey, American, Savigny, Bottega Veneta, NEWGEN, Paris

☆ The UK is delaying the switch to electric cars. Automakers are furious
▼ + stars: | 2023-09-20 | by ( Hanna Ziady | ) edition.cnn.com time to read: +6 min

A relaxation of 2030 would undermine all three,” Ford (F) UK chair Lisa Brankin said in a statement. “We and the whole automotive industry [need] clarity on the [EV] topic,” the German carmaker said in a statement shared with CNN. ‘Confusion’ will delay switch to EVsThe UK auto industry has been clawing its way back from rock bottom after car manufacturing hit a 66-year low in 2022. Reducing emissions from road transport “is the only way that you will achieve net zero,” Hawes told the BBC. The government’s own independent adviser on climate policy, the Climate Change Committee shares that view.

Persons: carmakers, Rishi Sunak, Sunak, “, ”, Sunak’s, ” Ford, Lisa Brankin, Brankin, carmaker, Mike Hawes, ” Hawes, Jobs, Sadiq Khan, ” Sunak, “ We’re, Alok Sharma, Simon Clarke, EVs, — Gemma Blundell, Doyle, Anna Cooban, Laura Paddison, Rob Picheta Organizations: London CNN, BMW, Oxford, Swindon, CNN, Fiat, Peugeot, Fiat Chrysler, France’s, India’s Tata Group, Society of Motor Manufacturers, Traders, BBC, Conservative Party, Labour Party’s London, Conservative Locations: Germany, France, Spain, Italy, Canada, Sweden, Ellesmere Port, Liverpool, Britain, London, Glasgow

Paris CNN —Britain’s King Charles and Queen Camilla will finally arrive in France for a state visit Wednesday, six months later than initially planned. The packed royal itinerary for the rescheduled three-day visit to Paris and Bordeaux, ending Friday, is largely unchanged save for a few additions. One new engagement will see Charles and Camilla rub shoulders with top athletes at an event highlighting the advantages of sports for young people. France's President Emmanuel Macron was forced to postpone the original royal state visit back in March. Ronny Hartmann/AFP/Getty ImagesFurssedonn-Wood agreed that the public can expect “a bit of substance” from the royal visit in France.

Persons: Paris CNN — Britain’s King Charles, Queen Camilla, Emmanuel Macron, Charles, Camilla, Brigitte Macron, Macron, ”, Queen Elizabeth II, French King Louis XIV, Ludovic Marin, reigniting, Christine Ockrent, Charles ’, ” Charles, Camilla’s, French –, Rishi Sunak, Sunak, ” Sunak, Nathan Laine, Chris Fitzgerald, Elizabeth II, Christian Poncelet, Eric Fefeberg, Scott Furssedonn, Wood, Craig Prescott, Prescott, Frank, Walter Steinmeier, Elke Budenbender, Ronny Hartmann, it’s, they’re, “, They’ll Organizations: Paris CNN, Rugby, Bibliotheque Nationale de, Mirrors, France, Getty, CNN, UK, ’, European Union, Bloomberg, French, Getty Images, British, Royal Holloway, University of London, “, CNN’s Royal Locations: France, British, Germany, Paris, Bordeaux, Franco, Bibliotheque Nationale de France, Ukraine, Sahel, Elysee, of Versailles, Versailles, “, AFP, French, New Delhi, Berlin, Salle, United Kingdom, Barbados, Eastern Caribbean, Europe, Royal

☆ Britain set to roll back climate pledges, enraging campaigners and auto groups
▼ + stars: | 2023-09-20 | by ( Jenni Reid | ) www.cnbc.com time to read: +4 min

U.K. Prime Minister Rishi Sunak speaks to the media during his visit to Shell St Fergus Gas Plant in Peterhead on July 31, 2023 in Aberdeenshire, Scotland. LONDON — U.K.-based industry bodies and automakers on Wednesday criticized British Prime Minister Rishi Sunak, amid reports that he is preparing to dilute several key net-zero climate pledges. A press representative for the prime minister's office declined to comment on the BBC report. However, interior minister Suella Braverman on Wednesday insisted in broadcast comments that the prime minister's approach to green policies was "pragmatic." On the long term, weakening the UK climate policies "could hurt economic growth by undermining domestic and overseas investment in a range of sectors that are developing and deploying clean technologies, such as heat pumps and electric vehicles.

Persons: Rishi Sunak, Sunak, Lisa Brankin, Brankin, Mike Hawes, Chris Skidmore, Suella Braverman, Bob Ward, Chris Hewett Organizations: Shell St Fergus Gas Plant, LONDON, British, BBC, Ford, Society of Motor Manufacturers, Traders, Ministers, Conservative Party, Labour, Grantham Research, Solar Energy Locations: Shell, Peterhead, Aberdeenshire, Scotland, Britain, Grantham, U.S, China, EU, India

Ford UK Chair Lisa Brankin was scathing: "Our business needs three things from the UK government: ambition, commitment and consistency. Britain was the first major economy to create a legally binding 2050 net zero target and emissions have fallen almost 50% since 1990 as coal power plants closed and offshore wind power took off. The government's own independent adviser on climate action said in June that Britain was not doing enough to hit its mid-century target. Ford said it had spent 430 million pounds ($532 million) on its UK development and manufacturing facilities, with "further funding planned for the 2030 timeframe". His party has trailed the opposition Labour Party in polls for over a year.

Persons: Suella Braverman, Andy Bailey, Handout, Rishi Sunak, Lisa Brankin, Sunak, We're, Ford, Chris Skidmore, Kate Holton, Elizabeth Piper, William James, Susanna Twidale, Muvija, Nick Carey, Sachin Ravikumar, Gareth Jones, Kirsten Donovan Organizations: Economic, REUTERS, Sunak's Conservative Party, Ford, Conservative, BET, Times Radio, European Union, BMW, Volkswagen, Labour Party, Thomson Locations: London, Britain, Sunak

☆ Rishi Sunak’s plans to delay climate targets attacked, as UK government pushes anti-green drive
▼ + stars: | 2023-09-20 | by ( Rob Picheta | ) edition.cnn.com time to read: +7 min

In an attack on his own Conservative predecessors as prime minister, Sunak said: “You don’t reach net zero simply by wishing it. The Climate Change Committee, the government’s independent adviser on climate change, published a report in June that criticized the UK’s net zero plans and said there was not enough urgency to reach the country’s goals. Britain is legally required to have reached net zero – meaning the country would remove from the atmosphere at least as much planet-warming pollution as it emits – by 2050. Johnson’s comments led a chorus of concerns from within Sunak’s Conservative party at the plans, which were apparently hurriedly brought forward after Tuesday’s leaks to the media. British businesses also criticized Sunak’s plans on Wednesday.

Persons: Rishi Sunak, Sunak, ” Boris Johnson, ” Johnson, ”, Dan Kitwood, pushback Sunak, “ We’ve, ” Sunak, “, … I’ve, Alok Sharma, ” Sharma, Chris Skidmore, Rob Picheta, Mike Childs, Sunak’s, Lisa Brankin, Ed Matthew, ” “ Organizations: London CNN, United, Conservative, Labour, “, Sunak’s Conservative, BBC, PA Media, London's Labour, CNN, Ambition, UN, Ford, European Union Locations: Britain, United Kingdom, Glasgow, Sunak’s, London, Uxbridge, South Ruislip, New York, United States, China

☆ Bankrupt Birmingham braces for cuts as UK government takes control
▼ + stars: | 2023-09-19 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —The UK government has moved to take control of the country’s second biggest city, Birmingham, after the local council effectively declared itself bankrupt earlier this month. The government has also proposed an inquiry to understand how Birmingham landed in its current financial mess. “The need for action in Birmingham is pressing,” he added. Birmingham City Council issued a so-called section 114 notice on September 5, which means it must halt all spending except on essential services such as schooling, housing, social care, waste collection and road maintenance. The plan is due to be discussed at an extraordinary meeting of the council on September 25.

Persons: Michael Gove, “, Deborah Cadman Organizations: London CNN, British, Birmingham City Council Locations: Birmingham, London, United Kingdom

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