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☆ Fact Check-Muslims not exempt from stamp duty on UK property purchases
▼ + stars: | 2023-08-14 | by ( Reuters Fact Check | ) www.reuters.com time to read: +3 min

False claims are spreading on social media that Muslims in the UK are exempt from paying stamp duty, a tax paid when buying property or land. In fact, stamp duty relief rules for Sharia-compliant alternative mortgages stop the levy being paid twice, but stamp duty is still ultimately financed by the buyer. Social media accounts, including here , claim Muslims are exempt from stamp duty charges. Stamp duty relief was introduced in 2003 to end stamp duty charges on both transactions. The rules ensure the same outcome and amount of stamp duty payable as for conventional mortgages, a spokesperson for HMRC said.

Persons: Read Organizations: HM Revenue, Customs, HMRC, Reuters Locations: England, Northern Ireland, Wales, Scotland, Britain

☆ Northern Ireland police confident militants have officers' data
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

A police officer stands guard on the steps of Stormont Parliament in Belfast, Northern Ireland, January 16, 2017. REUTERS/Clodagh Kilcoyne/File PhotoBELFAST, Aug 14 (Reuters) - Northern Irish police are confident that militant groups are in possession of details of officers it accidentally shared publicly last week, the region's police chief said on Monday. The accidental data leak is hugely sensitive in Northern Ireland, where officers are still sporadically targeted by dissident groups in bomb and gun attacks, despite a 1998 peace deal largely ending three decades of sectarian violence. "We are now confident that the workforce dataset is in the hands of dissident republicans," Police Service of Northern Ireland (PSNI) Chief Constable Simon Byrne told a news conference. He added that he was confident the UK government stood ready to provide additional funding for protecting its workforce or staff if needed.

Persons: Clodagh, Constable Simon Byrne, Sinn, Gerry Kelly, Byrne, Amanda Ferguson, Padraic Halpin, Alistair Smout Organizations: REUTERS, Northern Irish, " Police Service of Northern, Irish, Thomson Locations: Belfast , Northern Ireland, Northern Ireland, " Police Service of Northern Ireland, Belfast

☆ Migrant boat crossing Channel from France capsizes, at least six dead
▼ + stars: | 2023-08-12 | by ( Pascal Rossignol | ) www.reuters.com time to read: +3 min

[1/5] "Notre Dame du Risban", an SNSM lifeboat, enters the port of Calais following a rescue operation after a migrant boat trying to cross the Channel from France capsized, in Calais, France, August 12, 2023. REUTERS/Pascal RossignolCALAIS, France, Aug 12 (Reuters) - At least six people died and more than 50 were rescued after a migrant boat trying to cross the Channel from France capsized early on Saturday, local authorities said. "There were too many of them on the (migrant) boat," she told Reuters by phone as she returned to the shore. Thorel, who shared a picture of migrants on the rescue boat, wrapped in survival blankets, said no one died on the boat she was involved with rescuing. UK government figures show that the number of migrant Channel crossings since the start of 2018 exceeded 100,000 this week.

Persons: du Risban, Pascal Rossignol, Franck Dhersin, Sangatte, Anne Thorel, Elisabeth Borne, Herve Berville, Rishi Sunak's, Suella Braverman, Ingrid Melander, Tangi Salaun, Christian Hartmann, David Miliken, Helen Popper, Ros Russell Organizations: REUTERS, Local, Reuters, Maritime Affairs, Britain's coastguard, coastguard, Border Force, British coastguard, Conservative Party, Thomson Locations: Calais, France, Britain, Thorel, Dover, Paris, London

CNN —Six people died after a boat carrying migrants sank in the English Channel, authorities say. The English Channel is one of the world’s busiest waterways and crossing on small boats is extremely dangerous. UK Prime Minister Rishi Sunak – whose governing Conservatives have been struggling in the polls – made stopping boats making the perilous crossing across the English Channel one of his top priorities. Pascal Rossignol/ReutersBut 755 migrants were detected crossing the channel to the UK Thursday, government figures showed. French Prime Minister Elisabeth Borne said in a tweet that her “thoughts are with the victims” of the migrant boat that capsized.

Persons: Franck Dhersin, ”, Rishi Sunak –, Pascal Rossignol, Elisabeth Borne, Herve Berville, Suella Braverman Organizations: CNN, Channel, Local, Twitter, Conservatives, Reuters, Paris, French, French Navy, Border Force Locations: Calais, Dover

☆ UK economy: GDP records surprise growth in second quarter
▼ + stars: | 2023-08-11 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +2 min

London CNN —The UK economy grew in the three months to June 30, compared with the previous quarter, official data showed Friday. Unlike its G7 peers, the UK economy still has not returned to pre-pandemic levels of output. In the three years before Covid’s rapid spread in 2020, UK output expanded by an average of 0.5% per quarter. Survey data also suggests that Britain’s bout of feeble economic growth has continued beyond the second quarter. The preliminary reading of the Purchasing Managers’ Index for July showed hardly any growth in UK private sector output and the weakest rise in six months.

Persons: ”, Darren Morgan, Rishi Sunak Organizations: London CNN, Gross, National Statistics, Bank of England’s, Bank of England Locations: United Kingdom

London CNN —Asylum-seekers have been removed from a controversial barge in southern England after Legionella bacteria was discovered in the water – days after experts warned of the risk of infection. Thirty-nine asylum-seekers disembarked the Bibby Stockholm barge, a UK Home Office spokesperson said in a statement Friday – just days after they were first housed in it. Legionella bacteria, which is commonly found in water, and can cause Legionnaires’ disease, a serious lung infection. The spokesperson said that no individuals on board the barge showed symptoms of Legionnaires’ and that the asylum-seekers were being provided with appropriate advice and support. “The presence of life-threatening bacteria onboard the Bibby Stockholm is just another shocking revelation that we’ve seen unfold over the past few weeks.

Persons: Bibby, Ben Birchall, Kolbassia Haoussou Organizations: London CNN —, Bibby, Home, Channel, Fire Brigades Union, CNN Locations: England, Portland, Bibby Stockholm, Dorset, Portland , Dorset, Britain

☆ Premier League investigating Chelsea over possible financial violations
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +2 min

Chelsea's new owners self-reported a number of financial transactions during the Abramovich era to European soccer's governing body UEFA, the Premier League and the FA. "We have been pretty open about the historic issues with regard to Chelsea because they self-reported to the Premier League and to the FA so it is obvious we are looking into that," Masters told the newspaper. "If the Premier League believes a club has breached the financial regulations and there is a case to answer, that case will be put to the club." "We want due process to be served in as efficient a way as possible, as quickly as possible," Masters added. Chelsea, who finished 12th in the Premier League following a chaotic campaign, will not be competing in Europe in 2023-24.

Persons: Mauricio Pochettino, Matthew Childs, Roman, Richard Masters, Abramovich, Todd Boehly, Masters, Tommy Lund, Pritha Sarkar Organizations: Soccer Football, Chelsea, Premier League, Britain's Times, Clearlake, UEFA, Times, London, Thomson Locations: Stamford, London, Britain, American, Russian, Ukraine, Moscow, Chelsea, Europe, Gdansk

☆ HSBC executive apologizes after calling the UK 'weak' for following US lead over China
▼ + stars: | 2023-08-08 | by ( Michelle Toh | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —A top executive at HSBC has apologized after reportedly calling the UK government “weak” over its dealings with China, in another sign of the political tightrope the British bank has to walk. He also said the British government would often concur with US demands, calling it “weak,” the publication reported. Several conservative UK lawmakers seized the occasion Monday to criticize Cowper-Coles and HSBC (HSBC). Meanwhile, Hong Kong and mainland China combined made up nearly 40% of profit, according to its most recent financial report. In 2020, HSBC’s top executive in Asia publicly declared support for a controversial national security law that Beijing introduced in Hong Kong, inviting fierce backlash from Western government officials and investors.

Persons: Sherard Cowper, Cowper, Coles, Washington, Britain shouldn’t, —, “, “ Sherard, Tim Loughton, ”, Iain Duncan Smith, Sir Sherard Cowper, Stephen Chung, Noel Quinn Organizations: Hong Kong CNN, HSBC, Bloomberg, CNN, Cowper, China - Britain Business Council, Chatham, Coles, Former Tory, Getty, Hong Locations: Hong Kong, China, Coles, United Kingdom, United States, London, British, Beijing, Israel, Saudi Arabia, Afghanistan, Chatham, Asia, Xinhua, East

☆ The UK has slapped so many sanctions on Russian oligarchs, authorities are struggling to keep up with their applications to pay at supermarkets, florists, and yoga studios
▼ + stars: | 2023-08-07 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

UK's sanctions enforcement authority is swamped with license applications from Russian individuals, per the Guardian. The sanctioned individuals need to get permission to access funds even for their daily needs. UK received 1,000 applications related to Russian sanctions since the Ukraine war started — up 100 times on-year. After all, sanctioned individuals appear to be willy-nilly applying for licenses for every spend. "I've always advised my clients that, frankly, you shouldn't be applying for the florist or the yoga teacher," a second unnamed lawyer representing several sanctioned individuals told The Guardian.

Persons: Europe —, willy, I've, it's Organizations: Guardian, Service, Russia, Waitrose, Treasury Locations: Ukraine, Wall, Silicon, Russia, Europe

The first group of migrants has arrived on board the boat, named Bibby Stockholm, which is docked in Portland, on the Dorset coast of southwest England, PA Media news agency reported. Medical practitioners flagged safety concerns over the Bibby Stockholm, after it was called a “death trap” by the UK’s Fire Brigades Union (FBU) on Wednesday. Campaigners flagged safety concerns over the UK government's plans to house 500 asylum-seekers on the boat. Finnbarr Webster/Getty ImagesPublic health experts warned that the cramped living conditions of the barge increase the risk of respiratory infections spreading. Housing any human on a ‘floating prison’ like the Bibby Stockholm is unacceptable.

Persons: Bibby Stockholm, Jenny Harries, Harries, Bibby, Finnbarr Webster, Andrew Matthews, Ben Selby, ” Selby, Oliver Dowden, Dowden, Steve Smith, ” Organizations: CNN, Media, Bibby, UK’s Fire Brigades, UK Health Security Agency, BBC Radio, Portland Port, Sunday, Getty, Public, Andrew Matthews / Press, AP, Sky News, Conservative Locations: England, Portland, Dorset, Britain, Bibby Stockholm, France

☆ UK net-zero ‘pragmatism’ is an odd way to get real
▼ + stars: | 2023-08-04 | by ( George Hay | ) www.reuters.com time to read: +7 min

Yet official UK figures do not suggest the way to get real on climate change is to go any slower. Sunak himself has defended Britain’s record on climate and says he cares about reaching its 2050 net-zero target. As such the net cost of net zero may be more like 344 billion pounds over three decades, or perhaps only 0.4% of GDP per year. Policy certainty will meanwhile encourage foreign investors to help pay for Britain’s transition, reducing its exposure to gas price shocks. UK energy secretary Grant Shapps said on Aug. 2 that the government remained “absolutely committed” to hitting its net-zero carbon targets by 2050.

Persons: Rishi Sunak, Sunak, dawdling, Andrew Forrest, ”, ” Sunak, Michael Gove, Grant Shapps, “, Neil Unmack, Streisand Neto, Oliver Taslic Organizations: Reuters, Sunak’s Conservative Party, Budget, Reuters Graphics Reuters, ’, McKinsey reckons, Britain, Conservatives, Thomson Locations: Britain, London, China, United States, North

☆ Activists cover Rishi Sunak’s mansion in black cloth after climbing onto the roof with ropes and ladders
▼ + stars: | 2023-08-03 | by ( Martin Goillandeau Chris Liakos Laura Paddison | Martin Goillandeau | Chris Liakos | ) edition.cnn.com time to read: +3 min

CNN —Climate activists draped black cloth over British Prime Minister Rishi Sunak’s private mansion in northern England on Thursday, in a protest against his policy to “max out” the UK’s oil and gas resources in the North Sea. Four demonstrators from the environmental group Greenpeace managed to climb onto the Conservative party leader’s manor house in his North Yorkshire constituency of Richmond early Thursday. They used ladders and climbing ropes to access the roof, where they unraveled 200 square meters of “oil-black fabric” to cover part of the mansion, Greenpeace said in a statement. Greenpeace said Sunak’s announcement is a blow to the UK’s environmental goals. “We desperately need our prime minister to be a climate leader, not a climate arsonist,” said Philip Evans, Greenpeace UK’s climate campaigner.

Persons: Rishi, Sunak, greenlighting Rosebank, “, ”, Philip Evans, ” Evans, Downing, Putin, Kirby Sigston Organizations: CNN —, British, ., Greenpeace, Conservative, Richmond, International Energy Agency, Downing Street, CNN, Downing, North Yorkshire Police Locations: England, North, North Yorkshire, Europe, Southeast Asia, greenlighting, Kirby

Britain exported more than 2.5 million tonnes of steel to Europe last year, UK Steel said. That trade would face the CO2 levy, unless Britain matched the EU's carbon pricing policies or linked its carbon market to the bloc's. Without a market link, Energy Aspects expects UK carbon prices to trade below EU CO2 prices until the late 2020s - exposing UK firms to the EU's border levy. In 2026, when the EU carbon border levy will kick in, Energy Aspects expects the UK CO2 price to be around 55 pounds (63.71 euros), versus an expected EU CO2 price of 108 euros. The UK government ran a publish consultation earlier this year on policies to support British industries as they decarbonise, including a possible UK carbon border levy.

Persons: Frank Aaskov, Benjamin Lee, Susanna Twidale, Kate Abnett, Sharon Singleton Organizations: European Union, ETS, Steel, Energy, UK, Britain's Department for Energy Security, Thomson Locations: BRUSSELS, London, Britain, Europe

London CNN —A barge on which the United Kingdom government plans to house hundreds of asylum-seekers has been described as a “death trap” by the country’s Fire Brigades Union. Yui Mok/WPA Pool/Getty Images/FileThe Fire Brigades Union (FBU) said it will write to the UK Home Office on Wednesday to set out its safety concerns. The government’s plans to house migrants on the barge has been widely criticized by human rights groups. “We’ve got British taxpayers stumping up millions of pounds a day to house migrants in hotels.”Rival protesters argue in Portland, Dorset, where the Bibby Stockholm docked on July 18, 2023. Ben Birchall/PA/APThe Home Office announced plans to house around 500 single adult males on the barge in April.

Persons: Rishi Sunak, Bibby, it’s, ” Sunak, hasn’t, ”, Sunak, Yui Mok, Ben Selby, ” Selby, Selby, ” Natasha Tsangarides, “ We’ve, Ben Birchall Organizations: London CNN, country’s Fire Brigades Union, LBC, Channel, Fire Brigades, Office, Sky News, CNN, “, ”, Home Office, United Nations Locations: United Kingdom, Portland, Dorset, England, Bibby Stockholm, “, Britain, Australian, Dover, London, Portland , Dorset, France

☆ An outdoor balcony in London is on the market for $63,700, but the listing agent says it doesn't come with an apartment
▼ + stars: | 2023-08-01 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +4 min

A lone balcony in South Kensington, London, is on the market for $63,700. The listing agent told Insider that the property is a reflection of London's housing market. But an apartment isn't included in that price, the property's listing agent told Insider. Jacobs told Insider that the agency has received around 220 inquiries about the balcony since it was put on the market three weeks ago. Meanwhile, the average London property increased by 0.8% from £521,561, or around $664,990, in May 2022 to £525,629, or around $670,176, in May 2023, the report added.

Persons: Glenn Jacobs, Jacobs, It's, Prince William, Kate Middleton's, Peter Dazeley, Robert Gardner Organizations: Service, Next, Evening, Google, Nationwide Building Society, Government Locations: South Kensington, London, Wall, Silicon, Stanhope, Next Lome, Harrods, Kensington

☆ The UK will drill for more oil and gas in the North Sea
▼ + stars: | 2023-07-31 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —The UK government has announced plans to allow a big expansion of drilling for oil and gas in the North Sea in a move that environmental activists have described as a taking a “wrecking ball” to the country’s climate commitments. “Even when we’ve reached net zero in 2050, a quarter of our energy needs will come from oil and gas. He also announced plans to build two new carbon capture and storage sites in the North Sea, to be completed by 2030, which would take the country’s total to four. The licensing process, overseen by the North Sea Transition Authority, will be more flexible to allow companies to drill near currently licensed areas, “unlocking vital reserves which can be brought online faster,” Sunak’s office said in a statement. “[The project] is a central part of plans to decarbonize North Sea operations, and to store emissions from other parts of Scottish industry,” he said.

Persons: Rishi Sunak, we’ve, ” Sunak, Simon Roddy, ”, ” Lyndsay Walsh, Philip Evans, “, ” Evans Organizations: London CNN, International Energy Agency, Transition, Shell, ”, Greenpeace UK, Conservative, Labour Party Locations: North, Scotland, loggerheads

☆ The UK has been accidentally sending classified information to Russian-allied Mali because of a one-letter typo in a domain name: report
▼ + stars: | 2023-07-28 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +2 min

British officials have been accidentally sending emails containing classified information to Mali. Millions of US military emails were sent to Mali due to the same error, the FT previously reported. Officials from the UK Ministry of Defence have also been sending emails containing classified information to Mali because of the same mistake, per The Times, which saw five emails from UK email addressess. Earlier this month, the Financial Times reported that millions of US military emails had been accidentally sent to Mali. Representatives from the UK Ministry of Defence and the Malian government did not immediately respond to requests for comment sent outside regular business hours.

Persons: they're, It's, Johannes Zuurbie Organizations: Service, US, UK Ministry of Defence, The Times, Times, Financial Times, Wagner, Kremlin Locations: Mali, Wall, Silicon, Russian, Dutch, Russia, Mali ., Malian

☆ A sanctioned Russian billionaire says the UK searched his multimillion-dollar London home illegally using allegations from a 15-year-old report
▼ + stars: | 2023-07-28 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Russian billionaire Mikhail Fridman said a UK police warrant to search his home was unlawfully obtained, per Reuters. He wants to overturn the warrant which he said was obtained based on allegations from a 2007 report. Back in December, the UK National Crime Agency, or NCA, searched Fridman's multi-million dollar home over several allegations — including conspiracy to evade UK sanctions and money laundering — per Reuters. Cathryn McGahey, the NCA's lawyer, said in court filings the UK government agency admitted its raid on Fridman's house was "unlawful," per Reuters. An NCA spokesperson told Insider that it accepted that the search warrant contained technical errors.

Persons: Mikhail Fridman, Fridman, Hugo Keith, Cathryn McGahey, Keith Organizations: Reuters, Service, London's, National Crime Agency, European Union, Alfa Group, WikiLeaks, Merriam, Webster, NCA, Agency Locations: Wall, Silicon, Russian, London, Russia, Ukraine, Russia's

☆ Russia's economy is being propped up by Wagner Group's gold-smuggling operations, UK government report says
▼ + stars: | 2023-07-26 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Russia's economy is being sustained by the Wagner Group's gold smuggling operations, the UK government says. A report says the mercenary group has been sneaking "significant" amounts of gold out of Sudan. That gold is then used in trade that's boosting Russia's economy, it added, despite the nation being targeted by western sanctions amid Russia's "special military operation" in Ukraine. "Wagner's gold-smuggling operations from Sudan are significant, with one calling them 'critical to Russia's ability to withstand significant sanctions deployed against it for its illegal invasion in Ukraine,'" the report said. And though Putin has downplayed the effect of sanctions, non-government statistics show that Russia's economy is spiraling and in a far worse state than it appears, two Yale researchers said.

Persons: Wagner, Brian Nelson, Putin Organizations: Service, US Treasury, United Arab, Wagner Group, Central African, Terrorism, Financial, Wagner Groups, EU, Yale Locations: Sudan, Wall, Silicon, Ukraine, United Arab Emirates, Central African Republic, Russia, Mali, United States, Africa

☆ NatWest CEO resigns after admitting to 'serious error' over Nigel Farage leak
▼ + stars: | 2023-07-26 | by ( ) www.cnbc.com time to read: +4 min

NatWest CEO Alison Rose on Wednesday stepped down with immediate effect after she admitted a "serious error of judgment" in discussing former Brexit party leader Nigel Farage's relationship with the bank with a senior BBC journalist. The board appointed Paul Thwaite to helm NatWest for an initial period of 12 months, the company said in a statement. "The board and Alison Rose have agreed, by mutual consent, that she will step down as CEO of the NatWest Group," Howard Davies, chairman of the board, said. Coutts' website advises its clients should be able to borrow or invest at least 1 million pounds with the bank or hold 3 million pounds in savings. Britain's Financial Conduct Authority (FCA) said it had urged the NatWest board to review the matter independently and welcomed its statement.

Persons: Alison Rose, Nigel Farage's, Paul Thwaite, Howard Davies, Coutts, Rose, Farage, Peter Flavel, NatWest's Davies, Davies, Rose —, Simon Jack, Jack, Sheldon Mills, Andrew Griffith Organizations: NatWest, BBC, NatWest Group, BBC Business, Authority, Treasury, Reuters, Government Investments

London CNN —The United Kingdom government has been heavily criticized by Parliament’s Foreign Affairs Committee for underestimating the growth of Russia’s Wagner private mercenary group, despite it posing a major threat to the country’s interests. Wagner “essentially operate like a criminal mafia,” Kearns said in an interview with Sky News Wednesday. Barbara Debout/AFP/Getty Images/FILEIt also criticized the UK government for only beginning to seriously monitor the group after Russia launched its invasion of Ukraine. “It is deeply regrettable that it was not until early 2022 that the Government began to invest greater resource in understanding the Wagner Network, despite Wagner fighters having already conducted military operations in at least seven countries for almost a decade,” read the report. “The Government has not told us anything specific that it is doing to challenge the network’s influence and impunity outside of Ukraine,” the report said.

Persons: Russia’s Wagner, Wagner, ”, Alicia Kearns, Wagner “, ” Kearns, “, Barbara Debout Organizations: London CNN, United, Parliament’s Foreign, “, CNN, Sky News, Getty, Government, Wagner Network, European Union Locations: Africa, Europe, Russia, Ukraine, Sudan, Syria, Central African Republic, Libya, Mozambique, Mali, Bangui, AFP, “, United States

NatWest lifer Rose climbed up the ranks over more than three decades from graduate trainee to boardroom, becoming the first woman to run one of Britain's major banks. "You can be a hero one day, a zero the next, as Alison Rose has found out." Davies lamented the "sad moment" while Rose paid tribute to colleagues who had helped her build solid foundations for the bank, in a statement accompanying the news. RBS TO NATWESTRose succeeded Ross McEwan as CEO of NatWest in 2019, becoming the lender's first female boss. But under Rose's supervision, the bank became one of Britain's biggest participants in government-designed loan schemes to keep ailing businesses afloat.

Persons: Alison Rose, Nigel Farage, NatWest lifer Rose, Coutts, Rishi Sunak, Rupert Younger, Rose, Howard Davies, Rose's, Davies, Charlie Nunn, Farage, impinging, NATWEST Rose, Ross McEwan, McEwan, Stephen Hester, Fred Goodwin, Lawrence White, Conor Humphries Organizations: NatWest's, Brexit Party, NatWest, Oxford University's, Lloyds Banking Group, Britain's, RBS, NATWEST, Royal Bank of Scotland, Thomson Locations: Europe, Westminster, Britain

☆ Homelessness in England has reached a 25-year high by this measure
▼ + stars: | 2023-07-26 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —The number of households living in temporary accommodation in England has hit its highest level since at least 1998, according to official data. Local authorities in England have a duty to provide accommodation for households that have become “unintentionally homeless.” While authorities process a household’s application for housing, they often provide temporary accommodation. “The majority of households in temporary accommodation have been placed under the main homelessness duty,” the housing department says in its definition of temporary accommodation. In addition, there were almost 38,000 households at risk of becoming homeless, broadly unchanged from the first quarter of 2022. The figure refers to homes in England, the department told CNN Wednesday.

Persons: —, “, Matt Downie, they’re Organizations: London CNN, Local, National Housing Federation, Scotland’s Heriot, Watt University, National, Building Council, CNN Locations: England, United Kingdom, —, Scotland, Wales

☆ Government’s NatWest meddling crosses risky line
▼ + stars: | 2023-07-26 | by ( Liam Proud | ) www.reuters.com time to read: +4 min

Meddling ministers crossed a line, and may struggle to retreat back onto the right side of it. Its shares fell a modest 3% on Wednesday morning – compared with 1% on average for Lloyds Banking Group (LLOY.L), Barclays (BARC.L) and Virgin Money UK (VMUK.L). Rose’s strategy of cutting costs, continuing to scale back risky trading and focusing on core UK retail banking was working. Britain’s Economic Secretary to the Treasury Andrew Griffith said on social media site X, formerly known as Twitter, that “it is right that the NatWest CEO has resigned”. Domestic rivals Lloyds Banking Group, Barclays and Virgin Money UK were down 2% on average.

Persons: Alison Rose, Rose, Rishi Sunak, Jeremy Hunt, Nigel Farage, Andrew Griffith, Coutts, aren’t, Nigel Farage's, Paul Thwaite, George Hay, Pranav Kiran, Streisand Neto Organizations: Reuters, Economic, NatWest, BBC, Royal Bank of Scotland’s, UK Government Investments, . Mortgage, Lloyds Banking Group, Barclays, Virgin Money, Lloyds, Domestic, Thomson Locations: NatWest’s

☆ Alison Rose: NatWest bank CEO resigns over leaking Nigel Farage financial details
▼ + stars: | 2023-07-26 | by ( Robert North | ) edition.cnn.com time to read: +1 min

London CNN —The CEO of one of the biggest banks in the United Kingdom has resigned after admitting she leaked details of Brexit campaigner and political commentator Nigel Farage’s finances to BBC News. The lender was later revealed in UK media to be Coutts, a bank for the rich owned by NatWest. Mr Farage said he believed the decision to close his Coutts account was due to his political views. The BBC then reported that it had been told by a senior source at the bank that Farage’s accounts had been closed for commercial reasons. On Tuesday night, Alison Rose confirmed she had been the source for the BBC report and apologized.

Persons: Nigel Farage’s, Alison Rose, “, Nigel Farage, Donald Trump, Coutts, Mr Farage, Farage, ” Alison Rose, Paul Thwaite Organizations: London CNN, BBC News, NatWest, BBC Locations: United Kingdom, ”

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