The Bank of England has kept interest rates on hold at 4.5%, warning that US President Donald Trump's trade war has intensified global economic uncertainty.
The Bank says there are indications an increasing number of companies plan to let workers go when national insurance contributions rise next month, which Governor Andrew Bailey says is a cause for concern.
The system for regulating water companies should be overhauled and replaced with one body for England and one body for Wales, a landmark review of the sector has advised. The much-anticipated report from the Independent Water Commission, led by former Bank of England deputy governor Sir Jon Cunliffe, outlines 88 recommendations to the UK and Welsh governments. Water minister Emma Hardy says she cannot guarantee the government will implement all 88 recommendations. Report by Gluszczykm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Congress leader Rahul Gandhi has stirred controversy after endorsing Donald Trump’s recent comment calling India a “dead economy.” Gandhi said he was “glad Trump stated a fact,” drawing sharp criticism from across the political spectrum. What was intended as a dig at the Modi government quickly backfired, with critics accusing Gandhi of siding with a foreign leader to malign India on the global stage.
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Piyush Goyal affirmed India's trade stance after US tariffs. A special court acquitted all accused in the 2008 Malegaon blast case. A Chhattisgarh trafficking.. IndiaTimes
A war of words has erupted between Donald Trump and Dmitry Medvedev after the former Russian president issued a veiled threat warning Trump against issuing ultimatums to Moscow. Medvedev, in a social media post, said each ultimatum brings the world closer to war—"not between Russia and Ukraine, but with your own country." Trump responded with fury, calling Medvedev a "failed former President" and warning him to "watch his words" or face consequences. The U.S. President also slammed India over trade tariffs, saying their economy and Russia’s were “dead” and would “sink together.” Trump had recently warned Russia of new sanctions if it didn’t agree to a ceasefire within 12 days. The Kremlin said it had “taken note” of Trump’s latest demands. With tensions mounting, the episode highlights rising geopolitical friction and personal animosity at the top levels of power.
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Union Commerce Minister Piyush Goyal on Thursday said the central government is studying the implications of the US' move to impose a 25 percent tariff on.. DNA
A 76-year-old man has been arrested on suspicion of administering poison at a summer camp, which led to eight children being taken to hospital as a precaution. Leicestershire Police have put up a cordon in Canal Lane, Stathern, Leicestershire, where children became unwell at a summer camp. Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
There has been widespread disruption at UK airports after an air traffic control glitch. Aviation analytics company Cirium said 84 departures and 71 arrivals were cancelled up to 10pm on Wednesday. National Air Traffic Services (Nats) say the glitch was caused by a radar-related issue and that "there is no evidence that this was cyber related." Heathrow and Gatwick airports say they’ve now resumed normal operations. Report by Jonesia. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The business secretary has unveiled plans to crack down on late payments to ease the burden on small businesses. Jonathan Reynolds said the small business commissioner is to be given powers to fine large companies which continue to pay their suppliers late. Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Keir Starmer has announced plans to stabilise business rates and allow easier access to loans in a bid to support small businesses. In a speech delivered in Wiltshire on Thursday, the prime minister said 38 businesses are forced to shut every day due to late payments, costing the economy "£11bn per year". Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The government are cracking down on late payments by cutting red tape for small businesses. Discussing the plans, Business Minister Gareth Thomas said: "We are determined to crack down on late payments. It costs £11bn to the UK economy every year. Potentially very significant fines if companies continue to make payments later in the day."
Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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