The UK banking system would be able to withstand a severe economic turbulence, deeper than the 2008 financial crisis, a report by the Bank of England (BoE) has claimed. The stress test performed by the BoE will likely appease British businesses and households who are concerned with the rising interest rates and high inflation. The…
MPs Warned Rising Mortgage Rates Will Cause ‘Financial Stress’
While mortgage holders are still managing to cope, more financial stress is expected in the coming months, a committee of MPs heard as mortgage costs hit a 15-year-high. MPs on the Treasury Committee were also told that there may be a shortage of landlords amid rising costs and housing shortages. Figures published on Tuesday by…
National Grid Says to Accelerate Uptake of Heat Pumps
The UK’s electricity system operator has said that there needs to be greater adoption of heat pumps to reach net zero. According to its Future Energy Scenarios report released on Tuesday (pdf), National Grid ESO, the UK’s system operator said that current installation rates won’t meet the government’s heat pump target as well as a…
Sunak: UK Wants to See Commitment to Ukraine’s Membership at NATO Summit
Prime Minister Rishi Sunak has said he wants to see NATO’s commitment to inducting Ukraine as a full member of the alliance “reaffirmed” during the two-day summit in Vilnius. Ukraine’s membership is one of the key items on the agenda of the NATO summit being held in the Lithuanian capital. On his way to the…
BBC Bosses Didn’t Put Claims to Scandal-Hit Star for 7 Weeks
The BBC presenter accused of paying a teenager for sexually explicit photos wasn’t questioned by management until seven weeks after the broadcaster first learned of the allegations, it has emerged. The unnamed presenter was suspended on Sunday after The Sun reported last week that he paid a teenager more than £35,000 over three years to…
Jury Rules Lithuanian Who Arrived in UK After Brexit Killed 9 Year Old Girl
A mentally ill immigrant from Lithuania stabbed a nine-year-old girl to death as she played hula-hoop in the street outside the shop where her mother worked, a jury has ruled. The jury at Lincoln Crown Court, who saw CCTV footage of the attack on Lilia Valutyte in Boston, Lincolnshire, on July 28, 2022, ruled Deividas…
British Rail in Need of Boosted Competition and Reform, Says Report
UK rail’s recovery from the pandemic will be stalled if reforms are not carried out and effective competition among train companies is not introduced, a rail transportation body has suggested. Britain’s rail routes need to be “revitalised” and more competition is the way to do it, said Rail Partners in its new report (pdf). This…
Record Wage Rises Fuel Fresh Inflation Concerns
Wages have been rising at a record speed according to official data, fuelling fears that inflation could remain at a high level and force the Bank of England (BoE) to raise interest rates further. New data released by the Office for National Statistics (ONS) on Tuesday shows that employees’ regular pay, not including bonuses, was…
Financial Regulator Warns Crypto ATM Users Risk Losing Money
People using unregistered cryptocurrency ATMs risk handing their money to criminals, a financial regulator has warned. In a joint effort with law enforcement agencies, the Financial Conduct Authority (FCA) has disrupted 26 crypto ATMs, operating unlawfully across the country. Users can buy and sell cryptocurrency in exchange for cash or with a debit card when…
Governments ‘Crossed the Line’ with COVID-19 Lockdowns, Says 1922 Committee Chair
Governments around the world “crossed the line” when they imposed “unprecedented” lockdown measures on their populations during the COVID-19 pandemic, a senior Conservative MP has said. Sir Graham Brady, chairman of the influential 1922 Committee of Conservative backbench MPs, was an early objector to the “unprecedented removal of people’s liberties that took place in the…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`