Newsletter Oct 18, 2022

'How's Brexit going?' British politics mocked at home and abroad

Britain's political and economic turmoil has been greeted with thinly veiled satisfaction among pro-European and leftist politicians abroad, with some commentators drawing parallels to chaotic Italy.

Pound rallies as UK set to unveil spending plans

Sterling rallied 1.1 percent to $1.1293 ahead of Jeremy Hunt's fiscal announcement due 1000 GMT.

Analysis-Despite tax U-turn, UK's Hunt still faces tough budget choices

The screeching about-turn on tax cuts by finance minister Jeremy Hunt on Monday will not spare Britain from painful spending cuts and new tax hikes to fix the country's public finances.

Britain junks budget tax measures as Truss hangs by thread

Britain's new finance chief Jeremy Hunt on Monday axed debt-fuelled tax cuts to further calm market turmoil.

The UK: Is there a prime minister in the house?

UK Prime Minister Liz Truss on Monday refused to answer the call, raising further speculation about her future.

Wall Street rallies after BofA results, UK reversal

U.S. stocks kicked off the trading week on Monday with a rally after Britain reversed course on an economic plan, while Bank of America was the latest financial company to post solid quarterly results, which lifted optimism about the corporate earnings season.

BP to buy US renewable gas firm for $4.1 bn

BP will pay $3.3 billion in cash plus around $800 million in debt, while the purchase remains subject to regulatory and Archaea shareholder approvals.

Starbucks sued for accusing unionized workers of assault, kidnapping

Starbucks Corp was sued on Monday by eight employees at a unionized South Carolina store who said the company falsely accused them of criminal conduct after they demanded a raise from their manager.

EU launches training mission for Ukraine troops

The EU on Monday stepped up its military support for Kyiv by launching a mission to train 15,000 Ukrainian soldiers and providing 500 million euros more for weapons.

EU to slap human rights sanctions on Iran, warns of more over Ukraine

The European Union prepared to slap sanctions on Iran on Monday over a human rights crackdown and several ministers warned of separate, new sanctions if Tehran's involvement in Russia's war on Ukraine was proven.

British police probe beating of protester on China consulate grounds

British police are investigating the apparent assault on a protester who was videoed being beaten by several men after being dragged inside the grounds of the Chinese consulate in Manchester during a demonstration against President Xi Jinping.

Global broadcasting icon BBC turns 100

BBC World Service broadcasts in 41 languages to about 364 million people a week globally.

YouTube expands audio and podcast advertising for brands

Alphabet Inc's YouTube will expand ways for advertisers to reach music and podcast listeners and viewers on connected televisions, the company said on Monday.

Benzema wins Ballon d'Or as Putellas retains women's prize

Benzema turns 35 on December 19, the day after the World Cup final, and is the oldest winner of the Ballon d'Or since the very first, Stanley Matthews in 1956.