Reuters: UK

UK watchdog details bank capital shortfalls

Thu, 20 Jun 2013 06:45:09 GMT

LONDON (Reuters) - Lloyds Bank has a capital shortfall of 8.6 billion pounds, Britain's banking regulator said on Thursday, a day after the UK government signalled plans to return the part-state owned lender to the private sector.

Barclays says no need to issue equity to plug capital

Thu, 20 Jun 2013 06:42:08 GMT

LONDON (Reuters) - Barclays said it can fill a 3 billion pound ($4.7 billion) capital shortfall identified by Britain's financial regulator from earnings and other restructuring measures and does not plan to issue equity.

Britain, France face EU action over high Eurostar charges

Thu, 20 Jun 2013 04:35:04 GMT

BRUSSELS (Reuters) - The European Commission has given France and Britain two months to respond to a request to lower charges for passenger and freight trains to use the Channel Tunnel, or face possible court action, it said on Thursday.

British Supreme Court ruling threatens Western sanctions against Iran

Wed, 19 Jun 2013 20:59:57 GMT

LONDON (Reuters) - Western government sanctions against Iran suffered a big setback on Wednesday when Britain's top court ruled that the government was wrong to have imposed sanctions on the biggest Iranian private bank over alleged links to Tehran's nuclear programme.

Britain to pay more for power than Germany for a decade - Credit Suisse

Wed, 19 Jun 2013 17:29:02 GMT

LONDON (Reuters) - British electricity prices may be almost double those in Germany within three years due largely to the impact of a new tax aimed at supporting renewable power generation, a report by bank Credit Suisse showed on Wednesday.

RBS, Lloyds, Barclays account for most of UK capital gap - FT

Wed, 19 Jun 2013 17:13:23 GMT

LONDON (Reuters) - Britain's financial regulator will on Thursday say capital holes at Royal Bank of Scotland, Lloyds Banking Group and Barclays account for more than 90 percent of a 25 billion-pound ($39 billion) shortfall, the Financial Times said.

Workers at Royal Mail vote against sell-off

Wed, 19 Jun 2013 16:35:36 GMT

LONDON (Reuters) - Royal Mail workers backed union opposition to plans to privatise the state-owned postal group on Wednesday, a stark reminder for potential investors that there will be no warm welcome if and when the company changes hands.

Kate Middleton to give birth in same hospital as Princess Diana

Wed, 19 Jun 2013 16:02:53 GMT

LONDON (Reuters) - The Duchess of Cambridge, Kate Middleton, will give birth to the future heir to the British throne in the same hospital where the late Princess Diana gave birth to Princes William and Harry, royal sources said on Wednesday.

BT CEO Livingston steps down to join government

Wed, 19 Jun 2013 16:01:52 GMT

LONDON (Reuters) - BT Chief Executive Ian Livingston said on Wednesday he was stepping down to take up a government job promoting British business, knocking shares in a telecom company he has helped reposition on the path to growth.

FRC bans internal, external auditor links

Wed, 19 Jun 2013 14:40:33 GMT

LONDON (Reuters) - A British watchdog has banned accountants from asking customers' internal auditors directly for help in checking the books in a bid to bolster their independence.

Britain says reckless bankers could face jail

Wed, 19 Jun 2013 13:55:25 GMT

LONDON (Reuters) - Bankers who are reckless with customers' or taxpayers' money could face criminal charges and have bonuses and pensions clawed back, according to proposals backed by the prime minister on Wednesday.

Government says soldier deaths' court ruling will hit combat missions

Wed, 19 Jun 2013 13:06:16 GMT

LONDON (Reuters) - The British government warned on Wednesday that future combat operations could become more difficult after a court ruled that families of three soldiers killed in Iraq could sue the military for failing to protect troops on active duty.

Ballet dancer David Wall dies of cancer aged 67

Wed, 19 Jun 2013 12:57:19 GMT

LONDON (Reuters) - Ballet dancer David Wall, known for becoming the youngest male principal at the Royal Ballet at the age of 21, has died of cancer aged 67 at his home in London.

BoE, still divided, flags market impact of Fed uncertainty

Wed, 19 Jun 2013 11:43:21 GMT

LONDON (Reuters) - Bank of England policymakers acknowledged earlier this month that further market volatility could be on the way because of uncertainty about the direction of U.S. monetary policy, but came no closer to shifting their own stance.

Supreme Court quashes British sanctions on Iranian bank

Wed, 19 Jun 2013 11:27:31 GMT

LONDON (Reuters) - The UK's highest court has ruled that the government was wrong to have imposed sanctions on an Iranian bank in 2009 over alleged links to Iran's nuclear programme.

China's Dalian Wanda to spend $1.6 billion on UK yacht maker, hotel

Wed, 19 Jun 2013 10:55:04 GMT

LONDON (Reuters) - Chinese conglomerate Dalian Wanda Group said it would spend $1.6 billion (1 billion pounds) to buy British yacht maker Sunseeker and develop an upmarket London hotel, the latest example of a trend for Chinese companies to acquire top luxury global brands.

FCA fines property agent record one million pounds

Wed, 19 Jun 2013 10:42:44 GMT

LONDON (Reuters) - The Financial Conduct Authority (FCA) has fined a property agent nearly a million pounds for defrauding vulnerable people, the largest-ever fine for a sole trader in the consumer sector.

Ofcom to probe BSkyB over sports channel supply

Wed, 19 Jun 2013 10:28:56 GMT

LONDON (Reuters) - Ofcom said on Wednesday that it would launch an investigation into satellite TV firm BSkyB over the wholesale supply of its sports channels after a complaint by Sky's increasingly bitter rival BT.

Llambias resigns as Newcastle United managing director

Wed, 19 Jun 2013 10:18:41 GMT

LONDON (Reuters) - Newcastle United managing director Derek Llambias resigned on Wednesday, the day after Joe Kinnear's controversial return to the Premier League club as director of football.

A Briton fights with Al Qaeda's offshoot in Syria

Wed, 19 Jun 2013 09:22:44 GMT

SALQIN, Syria (Reuters) - The moment the young fighter walks in, it's clear he's different. He has a grey robe, a scraggly beard and a gun holster - hallmarks of the rebels who control this part of the northwest. But he wears Adidas trainers. And his accent and swagger are pure London.

UK food producers, grocers sign up to healthy label scheme

Tue, 18 Jun 2013 23:04:51 GMT

LONDON (Reuters) - Britain's major food manufacturers and retailers have agreed to follow the same system of nutritional labelling as part of a government initiative to tackle obesity and poor diet and ease the financial burden on health services.

SFO charges ex-UBS trader Hayes in Libor investigation

Tue, 18 Jun 2013 17:43:38 GMT

LONDON (Reuters) - The Serious Fraud Office (SFO) on Tuesday charged former UBS and Citigroup trader Tom Hayes with eight counts of conspiracy to defraud as it laid the groundwork for what could be the first Libor trial.

TV chef Nigella Lawson's husband cautioned by police for assault

Tue, 18 Jun 2013 17:22:06 GMT

LONDON (Reuters) - Art collector Charles Saatchi has been cautioned by police for assaulting his wife, the celebrity chef Nigella Lawson, after being photographed grabbing her by the throat in an incident that has fuelled a debate in Britain about domestic violence.

Animal Kingdom flops, Dawn Approach rocks Ascot

Tue, 18 Jun 2013 17:05:39 GMT

ASCOT, England (Reuters) - American raider Animal Kingdom flopped at Royal Ascot on Tuesday but while one lofty reputation was tarnished, another was restored when Dawn Approach atoned for his Epsom Derby failure to hand embattled Godolphin some respite.

Angelina Jolie stunt double sues News Corp over hacking

Tue, 18 Jun 2013 16:44:12 GMT

(Reuters) - A stunt double for Oscar-winning actress Angelina Jolie has sued News Corp over allegations its British newspapers hacked her phone, the first lawsuit in the United States against the company since a hacking scandal broke out two years ago.