You are here

Corbyn warns bankers: finance will serve Britain under Labour

Corbyn warns bankers: finance will serve Britain under Labour LONDON (Reuters) – Britain’s financial sector will be “the servant of industry not the masters of us all” if the opposition Labour Party gets into power, its leader Jeremy Corbyn will say on Tuesday, accusing bankers of taking the economy hostage. Corbyn, a socialist who has won over many voters with his promises to renationalise services and increase public spending, has long targeted London’s lucrative financial sector, saying politicians have become in thrall of money makers for too long. In a…

Read More

Oxfam chief apologises for 'babies in cots' comment as more abuse reported

Oxfam chief apologises for 'babies in cots' comment as more abuse reported LONDON (Reuters) – Oxfam’s chief executive apologised on Tuesday for saying a wave of condemnation over sex abuse by its staff was disproportionate as it had not “murdered babies in their cots” after a scandal that has prompted new reports of abuse. Mark Goldring said Oxfam was investigating 26 cases of misconduct reported since the scandal broke earlier this month over the alleged use of prostitutes in Haiti in the aftermath of the island’s earthquake in 2010. Oxfam…

Read More

BP sees self-driving electric vehicles crimping oil demand by 2040

BP sees self-driving electric vehicles crimping oil demand by 2040 LONDON (Reuters) – The emergence of self-driving electric cars and travel sharing are set to dent oil consumption by 2040, oil and gas giant BP (BP.L) said, forecasting a peak in demand for the first time. In its benchmark annual Energy Outlook, BP forecast a 100-fold growth in electric vehicles by 2040, with its chief economist Spencer Dale painting a world in which we travel much more but instead of using private cars, we increasingly share trips in autonomous vehicles….

Read More

Oxfam chief apologises for 'babies in cots' comment on sex abuse scandal

Oxfam chief apologises for 'babies in cots' comment on sex abuse scandal LONDON (Reuters) – Oxfam chief executive Mark Goldring apologised on Tuesday for saying a wave of condemnation of the charity over sex abuse by its staff was disproportionate as it had not “murdered babies in their cots”. He was being questioned by lawmakers over sexual exploitation in the aid sector following the scandal over the alleged use of prostitutes in Haiti in 2011 in the aftermath of the island’s earthquake. Opposition Labour politician and International Development committee chair…

Read More

More bombs fall on Syria's Ghouta after heaviest toll in years

More bombs fall on Syria's Ghouta after heaviest toll in years BEIRUT (Reuters) – Pro-government forces bombarded Syria’s eastern Ghouta on Tuesday, killing at least 49 people, after the heaviest one-day death toll there in three years on Monday, a war monitoring group said. Some 127 people were killed in air raids, rocket strikes and shelling of the area near Damascus on Monday, according to the British-based Syrian Observatory for Human Rights. About 190 have died since the bombing intensified late on Sunday and 850 have been injured, it said….

Read More

Britain does not want to undermine the EU after Brexit – Davis

Britain does not want to undermine the EU after Brexit – Davis VIENNA (Reuters) – Britain does not want to undermine the European Union after it leaves the bloc, instead it wants to become a respectful partner in driving new standards for a changing economy, Brexit minister David Davis said on Tuesday. In a speech in Vienna, which Davis called one of the truly global cities, the minister tried to ease concerns in the EU that Britain will use Brexit as a way to deregulate its economy and lower standards…

Read More

Britain and U.S. in talks over captured British IS fighters – home secretary

Britain and U.S. in talks over captured British IS fighters – home secretary LONDON (Reuters) – Britain and the United States are in talks about the fate of two captured British Islamic State militants, suspected of being part of a notorious group known for torturing and killing Western hostages, British Home Secretary Amber Rudd said. Alexanda Kotey and El Shafee Elsheikh were captured in Syria last month by the U.S.-backed Syrian Democratic Forces (SDF) and are suspected of being two of four militants, dubbed the “Beatles” because of their English…

Read More

Corbyn warns bankers: finance will serve Britain under Labour government

Corbyn warns bankers: finance will serve Britain under Labour government LONDON (Reuters) – Britain’s financial sector will be “the servant of industry not the masters of us all” if the opposition Labour Party gets into power, its leader Jeremy Corbyn will say on Tuesday, accusing bankers of taking the economy hostage. Corbyn, a socialist who has won over many voters with his promises to renationalize services and increase public spending, has long targeted London’s lucrative financial sector, saying politicians have become in thrall of money makers for too long. In…

Read More

HSBC profit disappoints as CEO Gulliver bows out

HSBC profit disappoints as CEO Gulliver bows out HONG KONG/LONDON (Reuters) – HSBC Holdings reported a jump in annual pre-tax profit that missed expectations and unveiled a plan to raise up to $7 billion (5 billion pounds) over the next four months to bolster its capital base, as the bank prepares for growth under a new leadership. Europe’s biggest lender by market capitalisation has undergone a painful restructuring under Chief Executive Stuart Gulliver that has seen the bank cut thousands of jobs, shut branches and exit markets. The restructuring, coupled…

Read More

Singapore says won't cane suspected bank robber if deported from UK

Singapore says won't cane suspected bank robber if deported from UK SINGAPORE (Reuters) – Singapore said on Tuesday it had agreed to a request from Britain not to carry out corporal punishment on a suspected bank robber if he is extradited to face charges in the city-state. David Roach, a Canadian national who allegedly stole S$30,000 (16,299 pounds) from a Standard Chartered bank branch in July 2016, was detained in Britain in January on an extradition request from Singapore. He is being sought on one count of robbery, which carries…

Read More