UK election brings few hopes or fears to cautious City of London

July 4, 2024 11:05 PM

UK election brings few hopes or fears to cautious City of London

The UK financial sector is warming to Labour's pro-business overtures and pledges to provide stability and support, but many in the City remain wary it could be targeted to prop up Britain's stretched public finances further down the line. Under leader Keir Starmer, the Labour Party - expected to win Thursday's UK election - has assiduously courted the City of London, mindful that his plans for boosting economic growth will need a big dose of private capital. In the last election in 2019, Star...

WikiLeaks founder Julian Assange strikes a deal with US that could allow him to walk free

June 25, 2024 9:40 AM

WikiLeaks founder Julian Assange strikes a deal with US that could allow him to walk free

WikiLeaks founder Julian Assange has agreed to enter a plea deal with the Joe Biden administration that could pave the way for him to avoid imprisonment in the United States, according to recently filed federal court documents. The WikiLeaks founder has reportedly consented to plead guilty to a felony charge connected to his alleged involvement in one of the largest breaches of classified US government material. This agreement, if approved by a federal judge, would see Assange receiving a 62-mo...

UK PM Rishi Sunak calls surprise election on July 4

May 22, 2024 11:25 PM

UK PM Rishi Sunak calls surprise election on July 4

UK Prime Minister Rishi Sunak has called for a surprise general election on July 4 in a statement outside Downing Street on Wednesday.   In a post on X, Rishi Sunak said, These uncertain times call for a clear plan and bold action to chart a course to a secure future." "You must choose in this election who has that plan and who is prepared to take that bold action to secure a better future for our country and our children," he added.   Sunak was required to hold a vote by January 2025 and...

UK’s infected blood scandal could and should have been avoided, inquiry finds

May 20, 2024 7:19 PM

UK’s infected blood scandal could and should have been avoided, inquiry finds

Britain's infected blood scandal that has killed 3,000 people and left thousands more suffering with hepatitis or HIV was no accident, a public inquiry found on Monday, blaming a catalogue of failures by government and doctors. Inquiry chair Brian Langstaff said more than 30,000 people received infected blood and blood products in the 1970s and 1980s from Britain's state-funded National Health Service, destroying lives, dreams and families. The use of infected blood, despite the known risks, h...

UK to spend 2.5% of GDP on defence by 2030, says Sunak

April 23, 2024 10:31 PM

UK to spend 2.5% of GDP on defence by 2030, says Sunak

Prime Minister Rishi Sunak said on Tuesday he would lift defence spending to 2.5% of GDP a year by 2030, saying the British arms industry must be on a "war footing" when the world is at its most dangerous since the Cold War.   Standing alongside NATO leader Jens Stoltenberg, Sunak said Britain would spend an additional 75 billion pounds ($93 billion)over six years to increase the production of munitions and drones, making Britain the second-largest defence spender in NATO.   He said one of...

Russia, Germany, UK urge restraint as Iranian threat puts Middle East on edge

April 12, 2024 11:48 AM

Russia, Germany, UK urge restraint as Iranian threat puts Middle East on edge

Russia, Germany and Britain on Thursday urged countries in the Middle East to show restraint and Israel said it was preparing to "meet all its security needs" in a region on edge over an Iranian threat to strike Israel. The German airline Lufthansa, one of only two Western carriers flying to Tehran, extended a suspension of its flights to the Iranian capital and Russia warned against travel to the Middle East. Iran has vowed revenge for the April 1 airstrike on its embassy compound in Damascus...