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EDF gives green light for controversial Hinkley Point nuclear reactors
French state controlled energy company EDF has said it will go ahead and build a controversial and extremely costly nuclear power station in Britain. The Hinkley Point C power plant in the south-west of England will cost more than 21...
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Boris Johnson wants UK to remain key partner in Europe
The British Foreign Secretary Boris Johnson has promised the UK will maintain close ties with its European neighbours despite the Brexit vote. Speaking after talks in Paris with his French counterpart Jean Marc Ayrault, Johnson said the...
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Fresh doubt over Hinkley Point nuclear power project
There is fresh doubt over a massively expensive nuclear power station in Britain. Just one day after French energy company EDF said it would take on the controversial Hinkley Point C project, the new UK government said it wants to review...
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U.K.'s new PM vows government for the people
Theresa May takes over from David Cameron as British prime minister and makes her first speech from 10 Downing Street
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Theresa May is Britain's new Prime Minister
Theresa May is now Prime Minister of Great Britain, after all her competition for the leadership fell away.
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Bank of England surprises by keeping interest rates unchanged
The Bank of England’s policymakers have left the cost of borrowing unchanged in Britain – for now. The benchmark interest rate stays at 0.5 percent where it has been for more than seven years. The decision wrong-footing many investors...
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New British foreign minister's 1st chat with reporters
Boris Johnson admits he has been pretty busy with EU withdrawal plans
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Japanese buy top UK tech firm ARM Holdings, first major takeover since Brexit
Britain’s most valuable technology company, UK microchip designer ARM Holdings, is being bought by the Japanese internet giant SoftBank Group. It will pay 24.3 billion pounds (29 billion euros) in cash in what is the first major takeover...
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Euro 2016 kicks up UK inflation to 0.5% in June
Inflation in Britain is not exactly flying high, but it did get a boost in June from more expensive airfares as football fans flocked to France for the Euro 2016 championships. The cost of plane tickets jumped by a record 10.9 percent...
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IMF says Brexit will reduce global economic growth in 2016 and 2017
The International Monetary Fund has said Britain’s decision to leave the European Union will reduce economic growth worldwide. It has trimmed its global growth estimate to 3.1 percent this year and 3.4 percent in 2017. That is down 0.1...
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UK jobless rate falls to 11-year low
Britain’s jobless rate has fallen to its lowest level since October 2005. The unemployment rate was at 4.9 percent of the workforce in the three months to May – down from 5.0 percent in April, the Office for National Statistics said. The...
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UK heading for recession post-Brexit, finance minister promises response
With word that Britain’s economy is shrinking following the Brexit vote, the UK’s finance minister Philip Hammond is promising a “reset” of government policy if the weakness continues. Hammond – in China for a meeting of finance...
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Ryanair shrugs off profit risks from Brexit
Ryanair has said it remains on track for its highest ever profit in the current financial year, up around 13 percent on last year. The Irish low-cost airline is confident of not being too badly hit by the effects of Britain’s vote to...
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UK finance minister wants post Brexit business tax cut
Post Brexit, Britain has announced plans to cut business tax from the current 20 percent to less than 15. The hope is to keep companies in the UK and woo those put off by the vote to leave the European Union, but it could also lead to...
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London Stock Exchange shareholders vote for Deutsche Boerse merger – but problems remain
Another Brexit related conundrum – what to do about the proposed merger between the London Stock Exchange and Germany’s Deutsche Boerse? On Monday 99.89 percent of the London shareholders voted in favour even though that deal has been...
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Germany says Brexit changes nothing for its economy
Germany’s cabinet has agree to press ahead with plans for a balanced budget over the next four years. Finance Minister Wolfgang Schaeuble, presenting his budget for next year, said Britain’s vote to leave the EU changes nothing with, for...