Top Stories
Top Stories
EU lawmakers back mandatory use of green jet fuel from 2025
Top Stories
Factbox-After Boris Johnson quits, how will a new UK PM be chosen?
Top Stories
ECB’s Villeroy says he has no doubts about anti-fragmentation tool
Top Stories
Factbox-Reaction to Boris Johnson’s resignation
UK PM Johnson expresses regret he cannot remain as prime minister
Date: July 7, 2022
LONDON (Reuters) – Boris Johnson said on Thursday he regretted not being able to stay on as Britain’s prime minister as he announced his resignation. After days of battling for his job, Johnson was deserted by all but a handful of allies after the latest in a series of scandals broke their willingness to support...
What next for UK economy as Boris Johnson quits?
Date: July 7, 2022
By William Schomberg LONDON (Reuters) – The resignation of Prime Minister Boris Johnson deepens the uncertainty hanging over Britain’s economy, already under strain from an inflation rate heading for double digits, the risk of a recession and Brexit. The race to replace Johnson, who announced on Thursday that he would quit office, could take weeks....
UK faces unsustainable debt burden unless taxes rise, watchdog warns
Date: July 7, 2022
By David Milliken LONDON (Reuters) -Britain faces an unsustainable debt burden more than three times its current level unless future governments raise taxes to fund increasing costs from an ageing population and falling revenue from taxation on motor fuel, a watchdog warned on Thursday. Britain’s Office for Budget Responsibility (OBR), a government agency, said debt...
UK oil sector secures changes to windfall tax, seeks more amid gov’t chaos
Date: July 7, 2022
LONDON (Reuters) – Britain’s main oil and gas sector said it had secured some changes to a planned windfall tax but is seeking further allowances from the new Finance Minister Nadhim Zahawi, with the bill set to go through parliament on Monday. Former finance minister Rishi Sunak, who resigned on Tuesday, announced an Energy Profits...
Shell gets $1 billion refining boost, upgrades oil and gas assets
Date: July 7, 2022
By Ron Bousso LONDON (Reuters) -Shell said on Thursday surging demand for oil products that had almost tripled refining profits in the second quarter would boost earnings by up to $1.2 billion. In an update before second quarter results on July 28, Shell also said it would reverse up to $4.5 billion in writedowns on...
Hungarian forint flounders even as central bank ramps up rates
Date: July 7, 2022
By Krisztina Than and Anita Komuves BUDAPEST (Reuters) -Hungary’s central bank raised its one-week deposit rate by a whopping 200 bps to 9.75% on Thursday and the government pledged to rein in the budget deficit in a bid to shore up the forint after it plunged to record lows this week. Reviving the currency is...