Home An issue of shares in Royal Mail was oversubscribed, pushing valuation well above initial forecasts of £3.3 billion. The IMF forecast British growth for 2013 to be 1.4 per cent; its estimate in July had been 0.9 per cent. The Commons Treasury select committee warned the Chancellor of the Exchequer that the government ‘Help
Home Shares in Royal Mail are to be sold by the middle of this month, before postmen can go on strike; the company is valued at between £2.6 billion and £3.3 billion. The Church Commissioners, an investment arm of the Church of England, became part owners of the resurrected Williams and Glyn’s bank which will
Home The General Medical Council said it was dropping cases against four doctors who worked at Stafford Hospital at the height of the scandal of neglect and abuse there. Bail until October was given to eight people, including five policemen, arrested during investigation of an incident last year in which Andrew Mitchell, the former chief
Home The government sold 6 per cent of Lloyds Banking Group to big investors for £3.2 billion. It still owns 32.7 per cent of the bank. Barclays published details of plans to raise £5.95 billion by issuing new shares. The Financial Conduct Authority warned Barclays of a £50 million fine for a deal with Qatari
Home George Osborne, the Chancellor of the Exchequer, said that the British economy was ‘turning a corner’, with ‘tentative signs of a balanced, broad based and sustainable recovery’. Unemployment fell to 7.7 per cent for the quarter May to July from 7.8 in the previous quarter. Jaguar Land Rover is to create 1,700 jobs at
Home Having recalled Parliament to debate British military action over Syria, David Cameron, the Prime Minister, found the government defeated, much to his surprise, by 285-272, thanks to 30 Conservatives and nine Liberal Democrats voting with the opposition. He immediately told the Commons: ‘It is clear to me that the British Parliament, reflecting the views
Home The nation settled down to watch the Paralympic Games on television. Some 2.5 million tickets had been sold for events. The government reconsidered building a third runway at Heathrow after all. Grant Shapps, the housing minister, said that ‘all options should be considered’, even though the Transport Secretary, Justine Greening, whose constituency is under
Home The cost of the HS2 railway line was expected by some in the Treasury to rise from £43 billion to £73 billion. The number of new homes being built in England rose by 6 per cent in the three months to June. The United Kingdom has lost more than 40 per cent of its
Home The population of the United Kingdom rose by 420,000, to 63.7 million, by the middle of last year, with the number of births, 813,000 (more than a quarter to mothers born abroad), being the highest since 1972. Thames Water asked the regulator Ofwat to allow it to impose a 12 per cent increase on
Home Retail sales enjoyed their fastest July growth in seven years, thanks to demand for beer, sun cream, swimwear and barbecue food. Manufacturing output rose by 1.9 per cent in June, following declines in both April and May. Lloyds Banking Group announced profits of £2.1 billion for the first half of the year and António Horta-Osório,
Home Barclays decided to issue £5.8 billion in shares to meet capital reserve requirements from the Bank of England. Lord Howell of Guildford, a former energy secretary, who does not speak for the government but happens to be George Osborne’s father in law, asking a question in the Lords about fracking for shale gas, said:
Home The Duchess of Cambridge gave birth to a boy, weighing 8lb 6oz, an heir to the crown, third in line to the throne. Great public excitement was expressed by taking photographs of an official notice of the birth posted on a gilt easel inside the railings of Buckingham Palace. Bells rang and gun salutes
Home Jeremy Hunt, the Health Secretary, put into ‘special measures’ 11 hospitals among the 14 with the worst death rates examined in an inquiry by Professor Sir Bruce Keogh. Professor Sir Brian Jarman, a contributor to the report, said: ‘If you don’t have enough trained nurses, as with doctors, you get higher death rates.’ The
Home There was a fine game of hunt-the-issue over the process to find a replacement, as parliamentary candidate in Falkirk, for the Labour MP Eric Joyce (who had decided not to stand again after being convicted of assaulting a Labour whip in the Strangers’ Bar). The union Unite was accused by Ed Miliband, the leader
Home Business confidence in Britain was at its highest level since 2007, according to a survey by the British Chambers of Commerce, which said it expected gross domestic product to have grown by 0.6 per cent in the second quarter of the year.Ofgem, the energy regulator, warned that spare electricity capacity could fall to 2
Home George Osborne, the Chancellor of the Exchequer, outlined cuts of £11.5 billion from departmental spending for the tax-year beginning in 2015. David Gauke, a Treasury minister, gave a ‘firm commitment’ in a letter to backbenchers to introduce a transferable tax allowance of £750 between spouses and civil partners paying tax at the basic rate. This
Home On the eve of the G8 summit, at a press conference with David Cameron, the Prime Minister, President Vladimir Putin of Russia bluntly opposed British proposals to aid the Syrian opposition: ‘People who not only kill their enemies, but open up their bodies, eat their entrails in public before the cameras. Are these the
Home Six men from the West Midlands — Omar Khan, Jewel Uddin, Mohammed Hasseen, Mohammed Saud, Zohaib Ahmed and Anzal Hussain — were jailed for 18 or 19 years on terrorism charges after planning to bomb an English Defence League rally in Dewsbury, West Yorkshire, last year. After a fire caused minor damage at the Darul Uloom
Home Patrick Mercer MP resigned the Conservative whip after being filmed in discussion with a fake Fijian firm that paid him £4,000 to ask parliamentary questions; he was in fact being investigated by BBC’s Panorama and the Daily Telegraph. Lord Cunningham and Lord Mackenzie of Framwellgate were suspended by the Labour party after the Sunday
Home Ten men were arrested in connection with the public, daylight murder of Drummer Lee Rigby near his barracks in Woolwich. The two chief suspects, Michael Adebolajo, 28, and Michael Adebowale, 22, Britons of Nigerian descent and converts to Islam, had waited in the street after the hacking to death of the soldier until armed
