The British pound crashed to a record low against the dollar - after the government announces UK's biggest tax cuts in 50 years. UK Chancellor Kwasi Kwarteng refused to answer a journalist's questions today. Molly Gambhir tells you more.

Gravitas | Pound Collapse: UK Chancellor evades journalist's questions

The leader of the UK’s main opposition party Keir Starmer vowed to reverse a tax cut for top earners announced by the Conservative government as the nation heads for recession.

UK: Labour leader Keir Starmer plans to cancel tax cut for people who earn over $160,000

World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala has given a rather gloomy outlook on the global economy. In her opening statement at WTO's annual public forum in Geneva, Okonjo-Iweala stated that the world may be 'edging' into recession.

'We're edging into global recession', says WTO chief, echoing World Bank's dire view

New banknotes featuring portrait of newly crowned King Charles III will come into circulation by mid-2024, the Bank of England (BOE) informed on Tuesday. Reportedly, UK's Central bank will soon reveal the image of the monarch that will be put up on the £5, £10, £20 and £50 notes.

Start of new era: King Charles III to appear on banknotes by mid-2024, confirms Bank of England

The Bank of England has said it "will not hesitate" to change interest rates in order to get inflation under control. The Bank released a statement on Monday after the pound plummeted to a record low of $1.03.

'Won't hesitate to raise interest rates after pound's fall', says Bank of England

Soaring energy prices in the UK since Russia's war in Ukraine have caused several problems for the British residents. Adding to their concerns now is the rising cost of using electric car charging points.

WION Climate Tracker | Rising cost of EV charging adds to the woes of Brits

The British government could fine TikTok up to $29 million following an investigation conducted by the Information Commissioner’s Office (ICO) which showed that the company failed to protect children’s privacy.

TikTok could face $29 million fine in the UK for failing to protect children’s data privacy

Sterling tumbled to a record trough as traders scampered for the exits on speculation that UK's new government's economic plan will stretch Britain's finances to the limit.

Sterling crumbles to record low; UK's fiscal plan spurs investor exodus

The clouds of recession are becoming darker for the global economy now. According to the latest forecast of the OECD, the global economic rate is slowing at more than the expected rate.

OECD: UK growth expected to be flat in 2023, deteriorating outlook for major economies

The UK's opposition labor party meanwhile has set out a green growth plan. Leader Kier Starmer is pledging to make the UK a green superpower before 2030.

UK: Keir Starmer unveils green growth plan, intends to end reliance on Russia for energy

Short video sharing platform TikTok is staring at a $29 million fine in UK for endangering and failing to protect the identities of children on its platform. The China-based company was found wanting after an investigation carried out by UK's Information Commissioner Office (ICO).

TikTok could face $29 million in fines in UK for endangering children's privacy

Britons have just six days left to spend £11 billion ($12.4 billion) of paper banknotes before they cease to be legal tender. The Bank of England (BOE) announced Friday that as of September 30, about £6 billion in old £50 notes and more than £5 billion in old £20 notes will no longer be recognised by UK businesses.

Britons have less than a week to spend old paper banknotes worth £11 billion

4-day workweeks have been creating a buzz. Several companies in the U.K. say they are ready to switch to this model. Does 4-day workweek mean taking a pay cut for working a day less? Does it also mean working longer hours?

Gravitas Plus | 4-Day workweek: All you need to know

We have heard about The Great Resignation. We have heard about The Great Retirement. The UK is now witnessing another trend. The Great Unretirement. The antithesis of all. Here's everything you need to know about it.

The Great Unretirement: Why are the over 65s in UK re-entering the workforce?

The UK chancellor outlines the mini budget in the UK House of Commons, unveiling the budget that pledged to turn the cycle of economic stagnation into a cycle of growth.

UK PM Liz Truss plans to cut down stamp duty in mini-budget, focus on reviving British economy

The Great Unretirement: Why are the over 65s in UK re-entering the workforce

The UK chancellor outlines a much-awaited and controversial mini budget in the UK House of Commons, he unveiled the budget that pledged to turn the cycle of economic stagnation into a cycle of growth.

UK unveils mini budget; historic tax cuts and borrowing in UK's new economic agenda

US President Joe Biden and UK Prime Minister Liz Truss on Wednesday (September 22) said that they want to ensure the Good Friday Agreement is protected. The agreement sealed in 1998 brought peace to Northern Ireland.

US, UK committed to protecting Good Friday agreement: Biden 

Citi group is planning to wind down its retail bank in the United Kingdom, aiming to further streamline operations as part of its chief executive's strategy.

World Business Watch: Citi bank plans to scrap UK retail banking as part of strategic refresh

In Australia, over a thousand people staged a protest against the National Day of Mourning for Queen Elizabeth II. People in Sydney and Melbourne gathered and called for more indigenous rights.

Australia: Thousands protest against day of mourning for Queen Elizabeth II

In an effort to strengthen the country's energy supplies and security, the UK has formally lifted a ban on fracking for Shale gas which has been in place since 2019.

United Kingdom: Britain lifts ban on shale gas fracking in push for energy independence

Citigroup has said that it plans to shut down its retail bank in the United Kingdom, as it overhauls its business structure. The firm said that it would be focusing on its wealthiest customers in the UK, and will be inviting certain clients to transition to its private bank.

Citigroup plans to shut down its lone retail bank in UK

According to a report, insulating homes in the UK and installing heat pumps could benefit the economy by $7.9 billion a year and create 140,000 new jobs by 2030.

World Business Watch | Study: Energy-saving measures could boost UK economy

As per a report by SkyNews, dealers are now using social media to peddle drugs to children. These contain cannabis and are packaged in appealing candy wrappers, which are predictably appealing to kids.

Cannabis 'candies' being sold to children in UK, six hospitalised

Uk, News on Uk, stories on Uk, articles on Uk, Uk stories at Wion, Uk news, Uk latest news

uk