Finance news

UK’s Starmer unveils $20 billion defense boost in long-delayed investment plan

The Defence Investment Plan falls short of the £28 billion($37 billion) wanted by defense chiefs and represents a 5% increase in annual defense spending.

North Sea oil and renewables: The UK’s next PM faces a defining energy policy decision

Andy Burnham could face an early test over North Sea oil drilling as energy shocks revive the UK energy security debate.

UK trade secretary hosts Chinese delegation in bid to boost services

UK Trade Secretary Peter Kyle is seeking to boost UK services exports to China as he hosts a delegation from the country on Tuesday. Peter Kyle and China’s Commerce Minister Wang Wentao will jointly host the 15th UK–China Joint Economic and Trade Commission at Mansion House in London. They will launch a “trade booster” initiative designed to support UK businesses expanding their exports into China during the visit. Brompton Bikes and HSBC are among the British businesses attending, while firms..

UK patient tested for possible Ebola as cases rise in Africa

A hospital in Scotland is testing a patient for Ebola as central Africa faces a deadly outbreak of the virus. The person arrived at the Queen Elizabeth University Hospital in Glasgow on Tuesday, according to a report from the BBC. A representative for the hospital declined to comment. Public Health Scotland (PHS), the government health agency, said there are no confirmed cases in the country and the risk to the public remains low. The UK’s National Health Service has “safe procedures in place...

Do you feel the need to leave Europe to get rich?

For anyone in Europe trying to build wealth and achieve financial independence, especially younger people, do you feel like your European country is holding you back? I keep seeing things online about how people are fleeing Germany, UK, France, etc because these countries are high tax and not convenient for doing business. Of course you don't have to leave Europe; countries like Switzerland and Bulgaria are lower tax, but on the whole Europe is not the easiest place to become a millionaire. For

Drones, fighters, armored vehicles: Highlights from the UK’s Defence Investment Plan

Beyond top line spending, one of the leading takeaways from the DIP is the clear push to acquire and field autonomous systems, underpinned by a £5 billion investment in the technology, which includes plans for a “hybrid navy.”

Japan, UK and Italy to extend next-gen fighter jet contract through 2027

UK investors sue Binance and founder Zhao Changpeng for US$200 million

Almost 1,700 British ⁠investors are suing ⁠Binance and founder ⁠Zhao Changpeng for at least £150 million (US$200 million), alleging the crypto trading platform sold them risky, complex derivative products without regulatory authorisation. The claimants, some ‌of whom said they had lost tens of thousands of pounds, allege Binance entities knowingly sold investments such as leveraged products, which can amplify gains or losses, from late 2019 and promoted ⁠them in breach of the Financial Services.

UK may intervene in Paramount’s US$110 billion takeover of Warner Bros Discovery

Britain said on Tuesday it could intervene in Paramount Skydance’s proposed takeover of Warner Bros Discovery, potentially holding up the US$110 billion deal after the US and China gave it the green light. The move could see the deal referred to the UK’s antitrust regulator, which made headlines in 2023 when it blocked Microsoft’s US$69 billion acquisition of Call of Duty maker Activision Blizzard to the fury of the two US companies. It later changed its mind after Microsoft amended its...

Essentra (ESNT) A UK listed components manufacturer and distributor

I discovered Essentra through a Vox Markets interview with an Odyession Trust manager, who highlighted the stock as an idea..for the next 5 years. Having completed some research, I see that Kambiz Nourbakhsh has recently built a 9% stake (in his own name) - he is a highly successful private equity investor. That said, their share price is at multi year lows and before buying shares In Essentra, I wonder if anyone here has a view.. Many thanks in advance submitted by /u/Immediate_Singer6785 [link

UK Prime Minister pledges near $105B defense budget by 2029

Courtesy of a £8.6 billion investment in the forthcoming Defence Investment Plan, the UK is also “renewing” a commitment to build sixth generation fighter jets, under the Global Combat Air Programme (GCAP), in collaboration with Italy and Japan.

UK lays out defence plan with drones, self-flying fighter jets, no-crew submarines

Self-flying fighter jets, uncrewed submarines and drones will be at the centre of Britain’s future military under a defence plan announced on Tuesday that reflects a world of conflicts transformed by technology. Prime Minister Keir Starmer said Britain would spend almost £300 billion (US$397 billion) over the next four years to modernise its armed forces amid rising threats. Starmer, expected to leave office next month after losing the support of Labour MPs, announced an increase in defence...

UK’s Andy Burnham, nation’s likely next leader, promises ‘number 10 north’

Andy Burnham, Britain’s presumptive next prime minister, has set out details giving more powers to local government as part of a plan to spread wealth and economic growth. Saying Westminster “is not working” and is “broken”, he set out a sweeping economic vision in a key speech from Manchester – where he was mayor for nine years – to bring voters, colleagues and financial markets up to speed with his ideas during his rapid progress towards power. He set out a 10-year vision for “good growth in..

OEUK Says Urgent Decisions Needed on Rosebank, Jackdaw

Industry body Offshore Energies UK said 'urgent decisions' are needed on the Rosebank and Jackdaw projects 'for national security'.

UK’s likely next leader Andy Burnham to unveil plan to shift power from London

Andy Burnham, the Labour lawmaker expected to replace Keir Starmer as British prime minister, will outline his vision for Britain on Monday, his office said, promising to change how the nation is governed with power moving from London to ‌the regions. Burnham, who returned to Westminster earlier this month after winning a parliamentary seat, is currently the only declared candidate to take over from Starmer and could be installed in Downing Street within weeks. Starmer announced last week he...

UK man arrested after woman’s body found in suitcase in Colombia

A British man has been arrested in Ecuador after the body of a woman was found inside a suitcase despite him telling The Sun newspaper that he was watching England at the time. Matthew Ashley Foster-Smith is alleged to have caused the death of 36-year-old Natalia Villalba in a flat in the Chico neighbourhood of Bogota, Colombia, on June 18, local authorities said. But the 46-year-old from Bournemouth reportedly rang The Sun a day before his arrest and said: “I was watching England vs Croatia on.

Why are Hong Kong, mainland universities rising in global rankings as US ones fall?

The global higher education landscape has shifted markedly over the past five years, with universities across Asia, particularly in Hong Kong and mainland China, climbing international rankings while more than 70 per cent of US institutions slipped, a South China Morning Post analysis has found. UK-based education data firm Quacquarelli Symonds (QS) said the trend signalled that excellence in higher education was no longer dominated by a handful of Western countries, attributing the improved...

UK Grid Issues Another Supply Warning

The UK grid operator issued a second power supply warning for Friday evening.

UK’s King Charles breaks tradition to reveal US$17 million tax bill

King Charles will not live at Buckingham ⁠Palace after its 10-year refurbishment finishes next year, royal officials said on Thursday, ending nearly two centuries of the central London landmark serving as the British monarch’s primary residence. Officials at the same time disclosed the king paid £12.9 million (US$17.04 million) in tax in 2024/25 – the first time the figure has been made public – placing him among Britain’s ‌top 100 taxpayers. Members of the royal family have promised greater...

UK Energy Secretary Vetoed Plan to Boost Oil Output for Defense Funds

UK Energy Secretary Ed Miliband has vetoed a plan by the Treasury to boost North Sea oil and gas drilling in order to fund part of Britain’s increased defense funding needs, The Telegraph reported on Thursday, citing a government source. As the UK plans to increase funding for military programs and rearmament amid heightened geopolitical tensions, the Treasury has proposed a plan to boost drilling in the UK North Sea and use the higher tax revenues from said drilling to fund part of the $24 bill

Did Brexit steal our soul, or unleash Britain? What The i Paper experts say

Yasmin Alibhai-Brown, Ian Dunt, Julie Burchill and Mark Wallace reflect on 10 years since the UK voted to leave the EU Read for free: https://inews.co.uk/opinion/brexit-steal-soul-unleash-britain-i-paper-experts-4483489 submitted by /u/theipaper [link] [comments]

What Keir Starmers' resignation means for European security

British Prime Minister Keir Starmer was widely known for his support of Ukraine and his efforts towards a new EU–UK defense partnership. What will happen to those policies now that Starmer has announced his resignation? submitted by /u/Any-Original-6113 [link] [comments]

Trump shrugs off Britain’s incoming leader: ‘I hear he’s extremely liberal’

US President Donald Trump was dismissive of Andy Burnham, who is set to become the next UK prime minister, saying he was unfamiliar with him and has only heard that he is “extremely liberal”. The US president was asked by a reporter on Wednesday about what he knew about Burnham, the former mayor of Greater Manchester who is poised to succeed Keir Starmer in Britain’s latest leadership shake-up. “I don’t know anything. I see that he was, I guess, the mayor of a town. I hear he’s extremely...

US, UK, France, Germany raise alarm about Chinese patrols off eastern Taiwan

The countries said Chinese patrols off the coast of Taiwan threaten regional stability and freedom of navigation.

UK Climate Panel Urges Faster Electrification to Lower Energy Bills

UK’s slower-than-expected electrification exposes households to fossil fuel price shocks, the country’s Climate Change Committee (CCC) said on Wednesday, urging faster electrification and removal of policy costs to lower the energy bills. While the uptake of electric vehicles (EVs) has accelerated and the latest renewable energy auctions awarded record new capacity, progress in heat pump installations has slowed, the independent panel said in its annual report. The CCC’s annual assessment warned

UK industry team looks to miniaturize DragonFire laser for Type 45 destroyer debut

Based on a 2027 target, the UK is set to become the first European NATO nation to operationally deploy novel, laser directed energy technology.

UK’s revolving door of prime ministers reveals a deeper malaise

The resignation of Prime Minister Keir Starmer has once again plunged British politics into uncertainty. Britain is now poised to welcome its seventh prime minister in a decade: after David Cameron, Theresa May, Boris Johnson, Liz Truss, Rishi Sunak and now Starmer, yet another successor is waiting in the wings. For a country that often presents itself as a model of political stability and democratic governance, such an extraordinary turnover of leadership raises questions about the...

Will Andy Burnham shake up the UK’s China policy if he becomes prime minister?

British Prime Minister Keir Starmer’s likely replacement could continue the outgoing leader’s pragmatic approach towards China, though addressing economic challenges at home would remain the most immediate priority, observers say. Clearing the way for the selection of the UK’s seventh prime minister in a decade, Starmer announced on Monday his intention to step down, succumbing to mounting pressure within his Labour Party as his popularity dwindled. Shortly after Starmer’s resignation, Andy...

I built a free tool that ranks all 148 countries by taxation

I built a filterable, sortable version of PwC's Worldwide Tax Summaries: https://tax-list-app.netlify.app What it does: Every country's headline taxes in one sortable grid. Open any country for the full PwC corporate & individual write-up (tax rates, due dates, treaties, etc.). Special regimes for new residents flagged - e.g. Portugal's IFICI 20%, Italy's €200k flat tax, Greece's 7% pensions, Spain's Beckham, UK's new 4-year FIG Extra layers: Tax Foundation's ITCI (competitiveness, not just low

After 6 prime ministers in 10 years, can anyone fix the UK?

On Monday morning, ⁠Keir Starmer emerged into the sunshine in Downing Street flanked by his staff and ⁠wife, his voice thick with emotion as he said he was no longer the right person to lead Britain. Starmer, who won one of the biggest landslides in British political history, is out after less than two years. The sixth leader to quit in 10 years. The highest rate of political turnover in almost two centuries. Like his predecessors, Starmer failed to stem popular anger over living standards,...