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☆ Britain’s New Chancellor Says Some Taxes Will Rise
▼ + stars: | 2022-10-15 | by ( Max Colchester | Paul Hannon | ) www.wsj.com time to read: 1 min

LONDON—The U.K.’s new chancellor, Jeremy Hunt , effectively scrapped Prime Minister Liz Truss ’s signature tax-cutting plan, saying on Saturday that some levies would have to rise and public-spending cuts would need to be made to restore market confidence in the British economy. Mr. Hunt said that Ms. Truss had made mistakes with her plan to boost growth by borrowing money to fund the biggest tax cuts since the 1970s, measures that spooked the markets and sent the Conservative Party crashing in the polls.

☆ New U.K. Chancellor Jeremy Hunt Seen as Moderate in Bid to Appease Markets
▼ + stars: | 2022-10-14 | by ( Max Colchester | Paul Hannon | ) www.wsj.com time to read: 1 min

LONDON— Jeremy Hunt , a quietly spoken veteran Conservative lawmaker, is now the U.K. Chancellor of the Exchequer, given the difficult job of trying to restore the British government’s credibility with investors after weeks of political chaos. Prime Minister Liz Truss on Friday called Mr. Hunt “one of the most experienced and widely respected government ministers and parliamentarians” after firing her longtime allyKwasi Kwarteng from the treasury role.

☆ U.K. Prime Minister Liz Truss Fires Treasury Chief, U-Turns on Taxes
▼ + stars: | 2022-10-14 | by ( Max Colchester | ) www.wsj.com time to read: 1 min

LONDON—U.K. Prime Minister Liz Truss fired Treasury chief Kwasi Kwarteng and reversed crucial parts of her government’s tax plan, a major setback for the new leader after her plan to jolt the economy into growth unraveled in spectacular fashion following a backlash from financial markets and her party. Mr. Kwarteng, who just three weeks ago presented the U.K.’s largest tax cuts since the 1970s, was asked to quit by Ms. Truss as markets balked at the scale of the borrowing required to fund the package and her lawmakers protested at the prospect of deep public-spending cuts. Mr. Kwarteng became the second-shortest-serving chancellor of the exchequer in recent British history. He was replaced by Jeremy Hunt , a party centrist and former foreign secretary.

☆ U.K. Treasury Chief Kwasi Kwarteng Fired Amid Market Pressure
▼ + stars: | 2022-10-14 | by ( Max Colchester | ) www.wsj.com time to read: 1 min

LONDON—U.K. Prime Minister Liz Truss fired Treasury chief Kwasi Kwarteng , in an attempt to salvage her tenure following pressure from her Conservative Party and international markets. Mr. Kwarteng, who just three weeks ago presented the largest tax cuts since the 1970s, was replaced after markets balked at the scale of the borrowing required to fund the growth package. He became the second-shortest-serving chancellor in recent British history.

☆ Airbus and Qatar Airways face off again in court over A350
▼ + stars: | 2022-10-14 | by ( Tim Hepher | ) www.reuters.com time to read: +3 min

An undelivered Airbus A350 built for Qatar Airways is seen in storage at Chateauroux, France, September 3, 2022 as Airbus and the Gulf carrier remain locked in a contractual and safety dispute. REUTERS/Tim Hepher/File PhotoLONDON, Oct 14 (Reuters) - Airbus (AIR.PA) and Qatar Airways return to court on Friday as a contractual and safety dispute over A350 passenger jets descends into a tug-of-war over confidential documents while the sums at stake in their unprecedented falling-out top $1.5 billion. Qatar Airways is suing Airbus over damage to the painted surface and anti-lightning system on A350 jets, saying safety could be at risk from a design defect. Airbus said last month it had revoked all 19 remaining A350 orders from Qatar Airways, severing outstanding business with the Gulf carrier for new jets. Airbus and Qatar Airways both declined to comment ahead of Friday's hearing, which was due to start at 0830 GMT.

LONDON—U.K. financial markets rallied Thursday as investors bet the government would reverse course on its recent tax-cutting plans, while the country’s Prime Minister Liz Truss grapples with a growing rebellion from both investors and lawmakers from her own Conservative Party. U.K. government bond prices rose and the pound gained against the dollar on expectations that some or all of the government’s plans would be rolled back, according to analysts. Both markets pared gains, however, after surprisingly strong U.S. inflation data, while a rally in smaller U.K. stocks fizzled out.

☆ U.K. Prime Minister Defends Tax Cuts as Market Turmoil Continues
▼ + stars: | 2022-09-29 | by ( Max Colchester | Paul Hannon | ) www.wsj.com time to read: 1 min

LONDON—Prime Minister Liz Truss looked to reassure the British public and rattled investors that her plan to cut taxes wouldn’t lead to prolonged financial instability, arguing in a series of interviews on Thursday that the country had been buffeted by global shocks rather than her government’s reforms and that her policies would result in faster growth. “We had to take decisive action,” Ms. Truss told the British Broadcasting Corp. in her first public comments since the tax plan was presented last Friday. The new prime minister said she wouldn’t backtrack on plans to carry out big tax cuts and spending increases, a package funded by borrowing which raised alarm among investors.

The U.K. continued to try to stave off a financial and economic crisis on Wednesday as the country’s central bank carried out emergency buying of government bonds to stabilize a spiraling debt market, adding pressure on the government of new Prime Minister Liz Truss . The central bank’s surprise move to spend 1 billion pounds buying U.K. government debt spurred a rally in the bond market, and helped the embattled pound gain slightly against the U.S. dollar, though it was still down against the euro. But the intervention—to stave off an imminent pension crisis—underscored the risks that continuing market turbulence poses to the U.K. financial system and economy.

☆ U.K. Markets Turmoil Puts Spotlight on New Chancellor Kwasi Kwarteng
▼ + stars: | 2022-09-28 | by ( Max Colchester | ) www.wsj.com time to read: 1 min

Kwasi Kwarteng, Britain’s chancellor of the exchequer, delivering his budget plan last week in the House of Commons. LONDON— Kwasi Kwarteng was just two weeks into his job as U.K. chancellor of the exchequer when he unveiled a bold plan to reshape the British economy by slashing taxes in what he called “a new approach to a new era.”Skeptical lawmakers in Britain’s Parliament now have a different moniker for the package: the “Kami-kwasi budget.”

☆ U.K. Seeks to Calm Investors Over Clash Between Inflation Fight and Truss Tax Cuts
▼ + stars: | 2022-09-27 | by ( Paul Hannon | Max Colchester | ) www.wsj.com time to read: 1 min

The U.K. government, after a punishing week for the pound and bond market in London, tried Tuesday to reassure investors that it is working to better coordinate with the Bank of England as Prime Minister Liz Truss ’s tax cuts and energy subsidies complicate efforts to control spiraling inflation. U.K. Chancellor of the Exchequer Kwasi Kwarteng said he was meeting Bank of England Governor Andrew Bailey daily.

☆ Bank of England Inflation Fight and Truss Tax Cuts Are at Odds, Worrying Investors
▼ + stars: | 2022-09-27 | by ( Paul Hannon | Max Colchester | ) www.wsj.com time to read: 1 min

This year, Andrew Bailey , the head of the Bank of England, has had one of the toughest jobs in central banking. The energy price shock from the Ukraine war and a U.S.-style labor shortage has sent U.K. inflation to the highest rate of large rich countries. Now, his job of fighting inflation has become even harder after the new government of Prime Minister Liz Truss unveiled the biggest tax cuts in a generation, as well as a bailout for consumers and businesses designed to protect them from surging energy costs, according to former central bank officials, analysts and investors.

☆ British Pound, Bonds Roiled as Tax-Cut Plans Spook Investors
▼ + stars: | 2022-09-26 | by ( Matthew Thomas | Max Colchester | ) www.wsj.com time to read: 1 min

LONDON—The selloff in U.K. financial markets accelerated on investors’ worries that the country’s largest tax cuts in decades would spark higher inflation and put government finances at risk. The British pound briefly sank to its lowest-ever level against the U.S. dollar Monday, before paring losses. The currency touched $1.0349 during Asian trading hours, breaking through its previous record low of 1985. It then recovered to just under $1.08, down slightly less than 1%.

☆ In Brexit’s Wake, U.K. Fails to Reach Trade Deal With U.S.
▼ + stars: | 2022-09-25 | by ( Max Colchester | Yuka Hayashi | ) www.wsj.com time to read: 1 min

U.K. Prime Minister Liz Truss met with President Biden on the sidelines of this month’s United Nations General Assembly. One of the big dividends of Brexit was supposed to be a U.K. trade deal with the U.S., helping offset the economic pain of putting up trade barriers with the European Union, Britain's largest trading partner. That isn’t happening soon, further adding to the woes of a U.K. economy beset by slow growth, a plummeting pound and high inflation.

☆ U.K.’s Sweeping Tax Cuts Send Pound Tumbling, Yields Higher
▼ + stars: | 2022-09-23 | by ( Max Colchester | ) www.wsj.com time to read: 1 min

LONDON—The British government unveiled the biggest tax cuts since the early 1970s in a bold bet to jolt the U.K.’s inflation-stricken economy into growth, prompting a slide in the pound and a jump in government bond yields. In one of the largest shifts in British economic policy in decades, U.K. Chancellor of the Exchequer Kwasi Kwarteng said the government would cut payroll taxes, freeze corporation tax, ditch a cap on banker bonuses and spend billions to subsidize energy bills over the next two years.

LONDON—The British government Friday unveiled the country’s biggest tax cuts since the early 1970s, a bold move aimed at kick-starting growth at a time of global economic turmoil but one which spooked investors and sparked the biggest one-day selloff of the pound since the pandemic roiled markets in March 2020. The package of tax cuts, paired with subsidies for households and businesses to cope with a surge in energy prices, was aimed at boosting the flagging U.K. economy amid stubbornly high global inflation and growing economic gloom in Europe. Instead, it may have only added to global worries by causing a market backlash.

LONDON—Four decades after Ronald Reagan , new U.K. Prime Minister Liz Truss is betting that a dose of tax cuts, new spending and deregulation will do for the British economy what a similar recipe did in the early 1980s for the U.S.: lead to an economic revival. On Friday, Ms. Truss’ government is expected to announce a series of tax cuts, including cutting taxes for new home purchases as well as reversing planned hikes in the corporate tax and cutting a recent increase in payroll taxes. It will also abolish limits on bonuses for bankers and allow fracking for shale gas across the U.K.

☆ Chris Redd is latest to exit ‘Saturday Night Live’
▼ + stars: | 2022-09-20 | by ( ) www.nbcnews.com time to read: +4 min

Five years ago, I walked into 30 Rock knowing that this was an amazing opportunity for growth,” Redd said in a statement. From the bottom of my heart, I can’t thank you all enough.”Chris Redd as Kanye West during the "People's Kourt" sketch on Saturday Night Live, on Oct. 9, 2021, in New York. He has an HBO Max comedy special in the works ”Chris Redd: Why Am I Like This?” which will premiere later this year. Redd co-created and is set to voice a lead role in a yet-to-be titled project from Michaels’ Broadway Video and Audible. “Saturday Night Live” in the 2020-2021 season was the most-watched entertainment program on TV among viewers between 18 and 49, the demographic most preferred by advertisers.

☆ Queen Elizabeth II’s Funeral Plans Were Decades in the Making
▼ + stars: | 2022-09-19 | by ( Max Colchester | ) www.wsj.com time to read: 1 min

LONDON—A few years ago, officials at Buckingham Palace rented out an aircraft hangar to mock up Queen Elizabeth II’s lying in state in Westminster Hall, where they paraded around a replica catafalque with no coffin on it to practice for a historic moment that would be witnessed by millions, according to a former royal official involved in the planning. It was just one piece in a vast jigsaw puzzle of preparations for the funeral plan, known as Operation London Bridge, that has seen 10 days of minutely choreographed pageantry, orchestrated by a uniquely British combination of aristocrats, military advisers, palace aides and civil servants. So far, the proceedings to celebrate and mourn the country’s longest-reigning monarch have gone off without a hitch.

☆ Britain Says Goodbye to Queen Elizabeth II in Historic Funeral
▼ + stars: | 2022-09-19 | by ( Max Colchester | David Luhnow | ) www.wsj.com time to read: 1 min

LONDON—Britain bid a final farewell Monday to Queen Elizabeth II, the country’s longest-serving monarch, during a historic funeral and solemn military procession that drew hundreds of thousands of people to London and Windsor Castle and was watched by millions around the globe. The state funeral, which paid tribute to her deep Christian faith and life of service, closed the chapter on the second Elizabethan age, a reign that lasted 70 years and saw an era of radical change for Britain as its empire was dismantled. The queen, however, remained a hugely popular head of state who gave people both in Britain and abroad a valued sense of continuity and proved a powerful symbol of the country’s identity.

☆ Queen Elizabeth II’s State Funeral Draws Tens of Thousands of Spectators
▼ + stars: | 2022-09-19 | by ( Max Colchester | ) www.wsj.com time to read: 1 min

LONDON—Britain prepared Monday to say farewell to Queen Elizabeth II, the country’s longest-serving monarch, during a historic funeral that will be attended by hundreds of dignitaries and watched by millions of people across the globe. The state funeral will close the chapter on the second Elizabethan age, a reign that lasted 70 years and saw an era of radical change for Britain as its empire was dismantled and its global standing shrunk. The queen, however, remained a hugely popular head of state who gave people both in Britain and abroad a valued sense of continuity and proved a powerful symbol of the country’s identity.

FashionMany men—including Jim Carrey—grew wild whiskers during lockdown. While some want to hang onto them, others argue the look is too unkempt for the office. Here, some guidelines.

☆ Why Coca-Cola doesn't want to tell you what's in those weird flavors
▼ + stars: | 2022-09-07 | by ( Danielle Wiener-Bronner | Cnn Business | ) edition.cnn.com time to read: +5 min

Over the past several months, Coca-Cola has rolled out a number of curious products: Coca-Cola Starlight Byte and Dreamworld . "We're engaging with people," said Selman Careaga, global category president of Coca-Cola Trademark, which includes Coke drinks but not other Coca-Cola products like Fanta, Sprite or others. "Without a doubt, it's a Coca-Cola product." Developing new Coke flavors can be risky if they stray too far from the signature flavor, Stanford noted. "The longevity of the brand has been all about that very unique Coke taste," he added.

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