Ineos boss Sir Jim Ratcliffe: UK chemical manufacturing ‘having the life squeezed out of it’ January 13, 2025 Ineos boss Sir Jim Ratcliffe has warned British chemicals manufacturing is having the “life squeezed out of it” by the government, and is on the verge of extinction. The business titan slammed the de-industrialising of Britain, which started in the 1970s and 1980s, and criticised the government for a lack of energy strategy and high [...]
Brexit, Trump tariffs and China set to weigh on UK trade January 13, 2025 UK trade will only grow by 0.7 per cent annually between 2023 and 2033, according to new projections from Boston Consulting Group (BCG).
Starmer declines to confirm Reeves will be Chancellor at next election January 13, 2025 Sir Keir Starmer has declined to confirm that Rachel Reeves will be Chancellor at the next general election. The Prime Minister was asked about Reeves’ role following a speech in London on artificial intelligence (AI) and insisted he was “completely confident” in her. However, he declined to guarantee she would still be in post at [...]
Chinese investment of £600m in UK ‘a start’, says Cabinet minister January 12, 2025 China committing to putting £600m in the UK is “a start” and “will lead to future investment”, a Cabinet minister has said. Science Secretary Peter Kyle said the Chancellor has returned with “solid commitments for investment” as the Government commits to “rebuilding the relationship with China”. Rachel Reeves has been criticised by the Conservatives and [...]
Reeves vows ‘action’ to meet fiscal rules amid rise in borrowing costs January 11, 2025 Rachel Reeves has said she will “take action” to meet her fiscal rules following turbulence on the gilt markets. Increases in the Government’s borrowing costs have sparked concern that the Chancellor will be unable to meet her debt and spending targets, requiring either tax rises or deeper spending cuts when she delivers a fiscal statement [...]
Rachel Reeves says fiscal rules ‘non-negotiable’ during bid to boost ties with China January 11, 2025 Rachel Reeves vowed to stand by her “non-negotiable” fiscal rules, as her mission to China was overshadowed by further turbulence in the gilt markets. Visiting bicycle-maker Brompton’s flagship Beijing store on Saturday, the Chancellor declined to give a running commentary on the financial markets in the UK, but said the rules she set for herself [...]
Rachel Reeves to raise Ukraine and Hong Kong human rights on China trip January 11, 2025 Rachel Reeves is expected to raise Russia’s war in Ukraine and issues of human rights in Hong Kong during her trip to China. The Chancellor is visiting Beijing for the first UK-China economic and financial dialogue since 2019, with Bank of England Governor Andrew Bailey and top financial services figures. Ministers are insisting the trip [...]
Wada crisis: US Anti-Doping Agency backs government withholding funds January 9, 2025 The US Anti-Doping Agency (Usada) has insisted it “fully supports” the US government’s call to withhold millions to the World Anti-Doping Agency (Wada). Usada chief executive Travis Tygart said withholding the funds, given the US has been Wada’s biggest funder since its founding, was “the only right choice to protect athletes’ rights, accountability and fair [...]
Profit stalls at iconic motorcycle maker Triumph January 7, 2025 Profit has stalled at iconic motorcycle brand Triumph as an economic downturn in China and a fall in the value of sterling impacted its sales. The Derbyshire-headquartered business, which is owned by billionaire John Bloor, has reported a pre-tax profit of £72.6m for the year to 30 June, 2024, up slightly from the £72.3m it [...]
Labour’s China ‘audit’ is pointless. We already know Starmer’s stance on Beijing January 4, 2025 Labour has clearly settled on its stance towards Beijing, let's give up the "audit" nonsense, writes Eliot Wilson.