New British Prime Minister Liz Truss and her finance minister Kwasi Kwarteng look set to revive Margaret Thatcher's 1980s experiment in "trickle-down" low-tax economics, the results of which have been disputed ever since.

Europe faces massive increases in energy bills driven by rocketing gas prices as the Ukraine conflict and European sanctions on Russia heighten concerns over gas supplies.

The International Energy Agency expects Russia to meet 25% of EU gas demand in 2022, down from over 40% in 2021. There are fears that Russia will stop supplies all together.

The independent US senator Bernie Sanders on Wednesday gave his backing to striking British railway workers.

Around ten percent of the bus network will be affected, including routes serving the annual Notting Hill Carnival.

The Bank of England has raised its benchmark rate from 0.1% to 1.75%, whereas until the financial crisis of 2008 it ranged from 5% to 15%.

Around 1,600 drivers from the London United bus company will stage the stoppage on Sunday and Monday over the traditional end-of-summer long weekend, the union Unite said.

It was meant to be Europe's stellar year.

Cash-strapped Chinese developer Shimao Group has proposed a two-class restructuring plan to offshore creditors to repay $11.8 billion over a period of three to eight years, according to two sources with direct knowledge of the matter and a document seen by Reuters.

It's a weekday, but 50-year-old Lebanese finance ministry employee Walid Chaar is not at work and hasn't been since June.

British trade union membership is currently around 6.5 million, but was more than double that in the late 1970s, when unions worked together to bring the UK to a standstill.

For ongoing strikes today to have any prospect of success, unions must carefully balance industrial action with negotiation to maintain public support.

Former British finance minister Rishi Sunak said it was still "early days" in the contest to replace Prime Minister Boris Johnson, as two opinion polls showed his rival Liz Truss had extended her lead in the race to be Britain's next leader.

British foreign minister Liz Truss, the front-runner to replace Boris Johnson as prime minister, was forced to backtrack on one of her most striking pledges a day after announcing it following a backlash from fellow Conservatives and opposition parties.

It should surprise no one that the first big pandemic-era display of worker power was in air travel, according to Sharan Burrow, head of the International Trade Union Confederation.

British employers agreed average pay rises of 4% with their staff in the three months to the end of June, the joint-highest since 1992 but falling further behind inflation, industry data showed on Wednesday.

Cutting taxes without a reduction in public spending might actually fuel inflation by stoking demand

British Prime Minister Boris Johnson will offer millions of public sector workers pay rises averaging 5% next week, the Financial Times reported on Friday, citing unnamed government ministers.

The basic idea is that the consistent ratcheting up of workers' pay to match inflation and cost of living increases leads to firms raising prices to protect their profit margins.

Item A on next British PM's agenda: inflation crisis

Union members will now vote upon BA's latest offer, which has not been made public.

A group of Afghan children were grazing sheep in fields near the village of Bolak Wandi in eastern Helmand when they spotted a metallic object half-buried in the ground.

The election of Margaret Thatcher as Conservative prime minister in May 1979, signalled the start of a period of major restrictions on trade union power.

One reason for lower membership levels among younger workers is that they are more likely to be in precarious employment with less access to unions.

The fact that UK higher education is still significantly state-subsidised means, in effect, UK taxpayers continue to fund privately educated students during their university studies.

Barristers have threatened a series of walkouts over the coming weeks and to refuse to accept new cases or cover for colleagues as part of the action.

Britain plans to make "buy now, pay later" (BNPL) companies carry out affordability checks, gain approval by the Financial Conduct Authority (FCA) and ensure adverts are fair and clear, the government said on Monday, in measures to regulate the sector.

Britain faces its biggest rail strike in 30 years this week when tens of thousands of staff walk out in a pay dispute that unions warn could lead to coordinated action across other industries due to the mounting cost of living crisis.

Take holiday to grow food, Sri Lanka tells civil servants

Venezuelan pop and reggaeton fans able to pay the equivalent of the country's monthly minimum wage for a concert ticket are filling venues for the first time in over seven years to see their favorite national and international artists.