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Under pressure from an economy that is failing to take off, British Finance Minister Rachel Reeves is preparing billions of pounds of cuts in public spending, particularly welfare, to balance the books, the UK press claimed on Wednesday.
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Private sector activity in the UK fell sharply in April, according to the PMI Flash index published Wednesday by S&P Global, bad news for the government as it struggles to revive its economy and confronts the trade storm unleashed by Donald Trump.
Plagued by turmoil since Donald Trump's latest customs assault, the dollar's decline accelerated on Thursday as the trade war between Washington and Beijing intensified, also propelling gold to a new record high.
The BBC announced on Monday that it was facing "an unprecedented challenge" in funding its content, due to a £1 billion drop in annual revenues in 15 years.
