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UK Economy In Recession In Second Half Of 2023
Britain sank into recession at the end of last year on high inflation and a cost-of-living crisis, dealing a blow to Prime Minister Rishi Sunak before this year's election.
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"It's Now Obvious That Brexit Isn't Working", Says London Mayor
Britain's departure from the European Union has reduced the size of its economy by 6% so far - an annual cost of 140 billion pounds ($178 billion) - London mayor Sadiq Khan said on Thursday, with the shortfall seen reaching 10% by 2035.
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Indonesia Considering Visa-Free Entry For Indians, Chinese, US Nationals
Indonesia is considering granting visa-free entry to nationals of 20 countries, including the United States, China, Australia, India, South Korea, Germany, Britain and France, to boost its tourism and economy, its tourism minister said on Thursday.
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UN Security Council to Hold First Formal Discussion on AI Risks, Impact on Global Peace and Security
The UN security council will formally discuss AI technology for the first time on Tuesday, as governments are exploring ways to mitigate the risks AI poses to the global economy and international security. Britain, which holds the rotating presidency of the UN Security Council this month, will seek global dialogue about the impact of the technology...
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Britain's CMA to Review Impact of AI on Consumers; Will Assess New Controls for ChatGPT-Like Technology
The Competition and Markets Authority (CMA), Britain's competition regulator, said on Thursday it would start examining the impact of artificial intelligence on consumers, businesses, and the economy and whether new controls were needed on technologies such as OpenAI's ChatGPT.
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Dismissing Economic 'Gloom', UK Bets On Brexit Boost
Britain's finance minister on Friday dismissed "gloom" over its recession-threatened economy and vowed to tap into Brexit opportunities and tackle rampant inflation to boost growth during a cost-of-living crisis.
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Rishi Sunak's 5 Promises To Get Britain Economy Back On Track
UK Prime Minister Rishi Sunak has listed reducing the national debt and lowering inflation among his priorities for the coming year.
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"Asking Everyone For Sacrifices": UK To Hike Taxes In Thursday's Budget
Britain will on Thursday hike taxes and slash public spending in a government budget signalling a return to austerity despite millions suffering a cost-of-living crisis in an economy facing recession.
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Rishi Sunak May Freeze Britain's Foreign Aid For 2 More Years: Report
New British Prime Minister Rishi Sunak is considering freezing the country's foreign aid budget for an additional two years, the Telegraph reported on Friday, citing sources.
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"Sunak Stability": Pound Recovers A Little But New PM Inherits A Recession
Britain's next prime minister, former finance chief Rishi Sunak, inherits a UK economy that was headed for recession even before the recent turmoil triggered by Liz Truss.
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Explained: New UK PM Rishi Sunak's Solutions To Britain's Problems
Rishi Sunak will become Britain's next prime minister after he won the race to lead the Conservative Party, leaving him with the task of steering a deeply divided country through an economic downturn set to leave millions of people poorer.
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"Eager" To Secure Trade Deal With India: UK Home Secretary Suella Braverman
Home Secretary Suella Braverman has said the UK is "eager" to secure a trade deal with India to boost both economies and that Brexit has meant that Britain no longer has a Eurocentric mindset towards trade or visas.
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UK's Liz Truss Vows No Spending Cuts To Pay For Tax-Slashing Plans
Britain's beleaguered Prime Minister Liz Truss vowed Wednesday not to cut public spending, once again defending last month's uncosted tax-slashing mini-budget that has sparked weeks of UK market turmoil.
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UK Drops Tax Cut For Top Earners Amid Row, Liz Truss's 1st Policy U-turn
Britain on Monday scrapped plans to axe its top income tax rate just 10 days after a debt-driven budget sparked turmoil on markets and fierce criticism during a cost-of-living crisis.
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Pound Crashes: The UK's Crisis Of Confidence Was Years In The Making
Britain is in a self-inflicted financial crisis that threatens to accelerate the economy's dive into recession - and the country's new prime minister is coming under intense pressure to blink.
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UK Economy In Recession In Second Half Of 2023
Britain sank into recession at the end of last year on high inflation and a cost-of-living crisis, dealing a blow to Prime Minister Rishi Sunak before this year's election.
-
"It's Now Obvious That Brexit Isn't Working", Says London Mayor
Britain's departure from the European Union has reduced the size of its economy by 6% so far - an annual cost of 140 billion pounds ($178 billion) - London mayor Sadiq Khan said on Thursday, with the shortfall seen reaching 10% by 2035.
-
Indonesia Considering Visa-Free Entry For Indians, Chinese, US Nationals
Indonesia is considering granting visa-free entry to nationals of 20 countries, including the United States, China, Australia, India, South Korea, Germany, Britain and France, to boost its tourism and economy, its tourism minister said on Thursday.
-
UN Security Council to Hold First Formal Discussion on AI Risks, Impact on Global Peace and Security
The UN security council will formally discuss AI technology for the first time on Tuesday, as governments are exploring ways to mitigate the risks AI poses to the global economy and international security. Britain, which holds the rotating presidency of the UN Security Council this month, will seek global dialogue about the impact of the technology...
-
Britain's CMA to Review Impact of AI on Consumers; Will Assess New Controls for ChatGPT-Like Technology
The Competition and Markets Authority (CMA), Britain's competition regulator, said on Thursday it would start examining the impact of artificial intelligence on consumers, businesses, and the economy and whether new controls were needed on technologies such as OpenAI's ChatGPT.
-
Dismissing Economic 'Gloom', UK Bets On Brexit Boost
Britain's finance minister on Friday dismissed "gloom" over its recession-threatened economy and vowed to tap into Brexit opportunities and tackle rampant inflation to boost growth during a cost-of-living crisis.
-
Rishi Sunak's 5 Promises To Get Britain Economy Back On Track
UK Prime Minister Rishi Sunak has listed reducing the national debt and lowering inflation among his priorities for the coming year.
-
"Asking Everyone For Sacrifices": UK To Hike Taxes In Thursday's Budget
Britain will on Thursday hike taxes and slash public spending in a government budget signalling a return to austerity despite millions suffering a cost-of-living crisis in an economy facing recession.
-
Rishi Sunak May Freeze Britain's Foreign Aid For 2 More Years: Report
New British Prime Minister Rishi Sunak is considering freezing the country's foreign aid budget for an additional two years, the Telegraph reported on Friday, citing sources.
-
"Sunak Stability": Pound Recovers A Little But New PM Inherits A Recession
Britain's next prime minister, former finance chief Rishi Sunak, inherits a UK economy that was headed for recession even before the recent turmoil triggered by Liz Truss.
-
Explained: New UK PM Rishi Sunak's Solutions To Britain's Problems
Rishi Sunak will become Britain's next prime minister after he won the race to lead the Conservative Party, leaving him with the task of steering a deeply divided country through an economic downturn set to leave millions of people poorer.
-
"Eager" To Secure Trade Deal With India: UK Home Secretary Suella Braverman
Home Secretary Suella Braverman has said the UK is "eager" to secure a trade deal with India to boost both economies and that Brexit has meant that Britain no longer has a Eurocentric mindset towards trade or visas.
-
UK's Liz Truss Vows No Spending Cuts To Pay For Tax-Slashing Plans
Britain's beleaguered Prime Minister Liz Truss vowed Wednesday not to cut public spending, once again defending last month's uncosted tax-slashing mini-budget that has sparked weeks of UK market turmoil.
-
UK Drops Tax Cut For Top Earners Amid Row, Liz Truss's 1st Policy U-turn
Britain on Monday scrapped plans to axe its top income tax rate just 10 days after a debt-driven budget sparked turmoil on markets and fierce criticism during a cost-of-living crisis.
-
Pound Crashes: The UK's Crisis Of Confidence Was Years In The Making
Britain is in a self-inflicted financial crisis that threatens to accelerate the economy's dive into recession - and the country's new prime minister is coming under intense pressure to blink.
