Tim's Feed
Jul 5, 2012

UK lawmakers back parliamentary banking probe

LONDON (Reuters) – British lawmakers on Thursday backed a government plan to hold a parliamentary inquiry into the professional and cultural standards of bankers, following the Barclays rate-rigging scandal.

They rejected a call by the opposition Labour party for the inquiry to be an independent judge-led probe, along the lines of an existing wide-ranging inquiry into British media standards.

Jul 5, 2012

UK legislators back parliamentary banking probe

LONDON, July 5 (Reuters) – British lawmakers on Thursday
backed a government plan to hold a parliamentary inquiry into
the professional and cultural standards of bankers, following
the Barclays rate-rigging scandal.

They rejected a call by the opposition Labour party for the
inquiry to be an independent judge-led probe, along the lines of
an existing wide-ranging inquiry into British media standards.

Jun 21, 2012

UK doctors take first industrial action in 37 years

LONDON, June 21 (Reuters) – Doctors in Britain’s
state-funded health service took industrial action for the first
time in 37 years on Thursday in a dispute over changes to their
pensions, cancelling thousands of patients’ non-urgent
appointments and operations.

The medics are the latest group of public sector workers to
take industrial action in recent months over government cuts to
taxpayer-funded pension schemes.

Jun 20, 2012

UK to give shareholders power over executive pay

LONDON, June 20 (Reuters) – Britain will legislate to give
shareholders the power to reject company director pay deals in a
bid to improve the link to performance and calm public anger
over soaring executive earnings, Business Secretary Vince Cable
said on Wednesday.

The move puts Britain in the vanguard of a clampdown on
corporate pay that has seen investors voicing their disapproval
at FTSE 100 boardroom pay levels which have quadrupled over the
past decade, far exceeding the performance of share values.

Jun 17, 2012

UK to order reactor for nuclear-armed submarine

LONDON (Reuters) – Britain will order the first reactor for a new generation of nuclear-armed submarines next week as part of a 1 billion pound ($1.6 billion) contract with Rolls-Royce, a defense ministry source said on Sunday, in a move that could strain the coalition government.

The deal will include an 11-year refit of Britain’s sole submarine propulsion reactor factory at Derby in central England, said Defence Secretary Philip Hammond, who will formally announce the plans to parliament on Monday.

Jun 17, 2012

UK to order reactor for nuclear-armed submarine-source

LONDON, June 17 (Reuters) – Britain will order the first
reactor for a new generation of nuclear-armed submarines next
week as part of a 1 billion pound ($1.6 billion) contract with
Rolls-Royce, a defence ministry source said on Sunday, in
a move that could strain the coalition government.

The deal, including an 11-year refit of Britain’s sole
submarine propulsion reactor factory at Derby in central
England, would protect 300 Rolls-Royce jobs and many others at
suppliers elsewhere, the source said. It is expected to be
announced by Defence Secretary Philip Hammond on Monday.

Jun 16, 2012

Prince Philip back on UK royal duty after illness

LONDON (Reuters) – Prince Philip, the husband of Britain’s Queen Elizabeth, made his first major public appearance on Saturday since a hospital stay for a bladder infection, attending the annual Trooping the Colour ceremony in central London.

The Duke of Edinburgh, who turned 91 last Sunday, waved and smiled to cheering crowds gathered outside Buckingham Palace as he watched a military fly-past from the balcony of the royal residence alongside the queen and other royal family members.

Jun 14, 2012

Syrian army systematically killing civilians: Amnesty

LONDON (Reuters) – Syrian government forces are killing civilians in organized attacks on towns and villages that amount to crimes against humanity, Amnesty International said on Thursday, citing evidence from over 20 locations in the country’s northwest.

The rights group repeated its call for the United Nations Security Council to refer Syria to the prosecutor of the International Criminal Court, and to impose an arms embargo.

May 31, 2012

Britain makes third tax policy U-turn in a week

LONDON (Reuters) – The centre-right coalition dropped plans to tax charity donations on Thursday, in the third U-turn this week on budget proposals which have hurt its poll ratings and drawn accusations from opponents that it is out of touch with ordinary people.

Thursday’s reversal follows retreats on levies on hot takeaway food – the “pasty tax” – and caravan homes, and piles pressure on a government already reeling from a phone-hacking scandal which has exposed close links between media and politicians.

May 31, 2012

BoE’s Bean points to scope for more stimulus

LONDON, May 31 (Reuters) – Bank of England Deputy Governor
Charlie Bean on Thursday gave the most explicit signal yet that
another round of stimulus for the economy could be in the works,
but recent comments from other policymakers suggest the bank is
still divided on the issue.

Consumer confidence numbers for May on Thursday were also
slightly better than expected but still showed the economy mired
in a downturn that has pushed it back into its second recession
in two years.