Government Bonds Correspondent
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Jun 4, 2015

UK to sell Royal Mail stake, targets 1.5 billion pounds

LONDON (Reuters) – Britain will sell its 30 percent stake in postal operator Royal Mail, currently worth about 1.5 billion pounds, as it renews its drive to wipe out the budget deficit, Chancellor George Osborne said on Thursday.

The sale was announced alongside a further 3 billion pounds of debt-reduction measures as Osborne said he was redoubling his efforts to fix the public finances after his Conservative party’s surprise election win in May.

Jun 4, 2015

UK to sell Royal Mail stake, targets 1.5 bln stg

LONDON, June 4 (Reuters) – Britain will sell its 30 percent
stake in postal operator Royal Mail, currently worth
about 1.5 billion pounds ($2.3 billion), as it renews its drive
to wipe out the budget deficit, finance minister George Osborne
said on Thursday.

The sale was announced alongside a further 3 billion pounds
of debt-reduction measures as Osborne said he was redoubling his
efforts to fix the public finances after his Conservative
party’s surprise election win in May.

May 29, 2015

Cameron seeks to court Merkel in bid to reshape Britain’s EU ties

BERLIN (Reuters) – British Prime Minister David Cameron meets German Chancellor Angela Merkel on Friday in an attempt to gauge how far Berlin will go to keep the world’s fifth-largest economy inside the European Union ahead of a referendum on membership.

Cameron’s post-election tour of European capitals ends with a lunch at which he is likely to ask Merkel’s help in securing a deal of concessions that he could sell to a divided British public before the referendum by the end of 2017.

May 27, 2015

Britons to be asked in referendum to vote ‘Yes’ to stay in EU

LONDON (Reuters) – Britons will be asked to vote “yes” if they want to stay in the European Union when a referendum is held in the next two years, the government said on Thursday.

The question they will be asked on the ballot paper will be: “Should the United Kingdom remain a member of the European Union?”

May 22, 2015

UK lawmaker Tyrie set to lead bank scrutiny in parliament again

LONDON, May 22 (Reuters) – British lawmaker Andrew Tyrie is
on course to win a second term as head of a powerful panel in
parliament that scrutinises the work of the finance ministry,
the Bank of England and the London’s financial services
industry.

The influence and importance of the Treasury Select
Committee has risen since the 2007-09 financial crisis, when
more than 60 billion pounds ($93.7 billion) of taxpayer cash was
used to save banks and sharpened the focus on the failings of
bankers, politicians and regulators.

May 20, 2015

Britain to streamline sale of banking assets, address low productivity

LONDON (Reuters) – British finance minister George Osborne will set out plans on Wednesday to streamline the sale of 23 billion pounds ($35.7 billion) of bank shares and other publicly owned assets by creating a new government-run company.

In a speech to business leaders in London, Osborne will highlight the plan as part of a drive to improve Britain’s low productivity – which he refers to as the “long-standing weakness in the British economy”.

May 20, 2015

Government to streamline sale of banking assets, address low productivity

LONDON (Reuters) – Chancellor George Osborne will set out plans on Wednesday to streamline the sale of 23 billion pounds of bank shares and other publicly owned assets by creating a new government-run company.

In a speech to business leaders in London, Osborne will highlight the plan as part of a drive to improve Britain’s low productivity – which he refers to as the “long-standing weakness in the British economy”.

May 19, 2015

Hard road ahead as UK’s Osborne embarks on mission to reshape state

LONDON, May 19 (Reuters) – Britain’s finance minister George
Osborne is under pressure to spell out how he will slash
government spending after getting the green light from voters to
finish off what is expected to be, for many, a painful
redefinition of the role of the state.

After five years of austerity under a coalition government,
newly-reappointed Osborne now says he needs to find another 25
billion pounds of spending cuts in the next two years, and more
beyond that, to complete what is set to be the most radical
shrinking of the state in Britain since World War Two.

May 12, 2015

Britain could hold EU vote earlier than end of 2017

LONDON (Reuters) – Prime Minister David Cameron will hold an early referendum on membership of the European Union if he can first reach a deal that satisfies his demands for major changes in Britain’s relationship with the bloc, his spokesman said on Tuesday.

Cameron, who won a majority in Thursday’s general election, has pledged to renegotiate Britain’s ties with Europe and then give voters an in-out referendum on EU membership by the end of 2017.

May 11, 2015

Nigel Farage, leader of anti-EU party, U-turns on resignation

LONDON (Reuters) – Nigel Farage, the leader of Britain’s anti-EU UK Independence Party, on Monday withdrew his resignation after tendering it last week over his failure to win a seat in the British parliament.

UKIP, which wants Britain to withdraw from the European Union, won just one seat in a national election last week, despite talking up its chances of doing much better after winning European elections in Britain last year.