by Ngan Binh Just days after the August 6 riots, as the baffled world looks on, the British public are asking: "Why is England burning?" An article in The Economist entitled "Anarchy in the UK", claimed that shame was foremost in most British people's minds when riots erupted in Tottenham in north London before spreading to Manchester, Birmingham and a number of other English cities. Along with shame, there was also a jolting sense of bewilderment. The law-abiding majority suddenly saw that some of their compatriots seemed happy to torch cars and buildings, loot shops and attack firemen and ambulance crews. So why did it happened in a country that has been internationally regarded as orderly and law-abiding? The public at large wants to know the root cause of the riots – as do politicians – in the hope of averting a similar break down in society. Addressing MPs in the Commons on August 11, Prime Minister David Cameron said that what had taken place on the streets of London … [Read more...] about UK public asks: why is England burning?
India is set to overtake the United Kingdom and France to become the world's fifth largest economy next year, a report said Tuesday. Indian workers and brokers gather outside the Bombay Stock Exchange (BSE) to celebrate the benchmark 30-share index SENSEX crossing 34,000 points in Mumbai on December 26, 2017 Currently ranked seventh, India will move up to fifth place in 2018 and vault to third spot by 2032, the Centre for Economics and Business Research, a London-based consultancy, said in its annual rankings.The Indian economy hit a three-year low in the first quarter of the current financial year, after Prime Minister Narendra Modi's snap decision in November 2016 to scrap high-value banknotes and following a tax overhaul.Growth slumped to 5.7 percent for the three months ending June but recovered slightly to 6.3 percent for the quarter ending September."Despite temporary setbacks... India's economy has still caught up with that of France and the UK and in 2018 will have … [Read more...] about India to become fifth largest economy in 2018: report
Britain’s weaker growth this year is an effect of its departure from the EU, IMF managing director Christine Lagarde said on Wednesday. She said British growth will recover if the UK and the EU reach agreements to minimize trade tariffs and other trade barriers. EU Brexit chief negotiator Michel Barnier said the post-Brexit transition should not last beyond the end of 2020. … [Read more...] about IMF cuts forecast for British economy
Two British galleries have raised 45 million pounds ($72 million) for an important painting by Renaissance master Titian, dipping into their own coffers rather than asking the cash-strapped public to help. The acquisition of "Diana and Callisto" by London's National Gallery and the National Galleries of Scotland in Edinburgh, follows a similar purchase in 2009 for the accompanying canvas "Diana and Actaeon," which cost the galleries 50 million pounds. National Gallery director Nicholas Penny said the museums decided to use bequests left them, ranging from 100 to 500,000 pounds, to raise 25 million pounds towards the second work. "There was no special request for a government grant and there was no public appeal in these very difficult times," Penny told reporters on Thursday at the gallery in central London. "We have of course used these reserves before, but never on this scale, and no purchase ever made by the National Gallery has begun to approach the magnitude of this acquisition. … [Read more...] about UK galleries pay $72 million for Titian masterpiece
Brexit may affect the cost of medicines and hit UK pharmaceutical investment, a Commons committee head has warned.Rachel Reeves, who chairs the Business, Energy and Industrial Strategy (BEIS) committee, says access to new medical products may also be at risk.She said the uncertainty around Brexit was "very concerning", as MPs prepare to examine its effects on the industry.They include the sector's access to highly skilled workers after the UK leaves the Euopean Union.Ms Reeves said the evidence MPs had received suggested Brexit could threaten "the cost of medicines, investment in the UK and access to new and innovative research and products"."There are serious concerns raised around the future regulation of pharmaceuticals, mutual recognition of medicines, and the prospect of damaging disruption to cross-EU drug supply chains," she said."This is very concerning, with uncertainty risking the UK becoming a less desirable place for investment and development in a growing, productive … [Read more...] about Brexit impact on UK pharma industry to be investigated