List of All Articles with Tag 'eu'

Jon Corzine will shutter the hedge fund he started after the collapse of MF Global Holdings, marking the

Iowa has long been a proving ground for US presidential candidates. As Donald Trump and Ron DeSantis square

Hello from London as we mark the autumn equinox, and sadly, a looming end to British summer time.

The British government confirmed Sunday it may scrap a big chunk of an overdue and over-budget high-speed rail line once touted as a way to attract jobs and investment to northern England. British media reported that an announcement is expected this week that the line will end in Birmingham – 100 miles (160 kilometers) from London -- rather than further north in Manchester. The Conservative government insists no final decision has been made about the embattled High Speed 2 project. But Cabinet minister Grant Shapps said it was “proper and responsible” to reconsider a project whose costs have ballooned because of high inflation driven by the COVID-19 pandemic and the war in Ukraine. “We’ve seen very, very high global inflation in a way that no government could have predicted,” said Shapps, a former transportation secretary who now serves as the U.K.'s defense minister. “It would be irresponsible to simply spend money, carry on as if nothing had changed,” he told the BBC. The projected cost of the line, once billed as Europe’s largest infrastructure project, was estimated at 33 billion pounds in 2011 and has soared to more than 100 billion pounds ($122 billion) by some estimates. HS2 is the U.K.’s second high-speed rail line, after the HS1 route that links London and the Channel Tunnel connecting England to France. With trains traveling at a top speed of around 250 m.p.h. (400 kph), the new railway was intended to slash journey times and increase capacity between London, the central England city of Birmingham and the northern cities of Manchester and Leeds. Though it drew opposition from environmentalists and lawmakers representing districts along the route, the project was touted as a way to strengthen the north’s creaky, overcrowded and unreliable train network. The government hailed it as a key plank in its plan to “level up” prosperity across the country. The north of England, which used to be Britain’s economic engine, saw industries such as coal, cotton and shipbuilding disappear in the last decades of the 20th century, as London and the south grew richer in an economy dominated by finance and services. The government canceled the Birmingham-to-Leeds leg of HS2 in 2021 but kept the plan to lay tracks on the 160 miles (260 km) between London and Manchester. Former Conservative Prime Minister Boris Johnson, a longtime champion of the project, said cutting it back even further “makes no sense at all.” “It is no wonder that Chinese universities teach the constant cancellation of U..K infrastructure as an example of what is wrong with democracy,” Johnson said. Manchester Mayor Andy Burnham said people in northern England were “always treated as second-class citizens when it comes to transport.” “If they leave a situation where the southern half of the country is connected by modern high-speed lines, and the north of England is left with Victorian infrastructure, that is a recipe for the north-south divide to become a north-south chasm over the rest of this century,” Burnham, a member of the opposition Labour Party, told British TV channel Sky News. The government has also delayed work on bringing the line all the way to Euston station in central London. When it opens, some time between 2029 and 2033, trains will start and finish at Old Oak Common station in the city’s western suburbs. London Mayor Sadiq Khan said that would create “a ridiculous situation where a ‘high speed’ journey between Birmingham and central London could take as long as the existing route, if not longer.” “The government’s approach to HS2 risks squandering the huge economic opportunity that it presents and turning it instead into a colossal waste of public money,” Khan said in a letter to Prime Minister Rishi Sunak. Read More Ukraine war’s heaviest fight rages in east - follow live Charity boss speaks out over ‘traumatic’ encounter with royal aide Shapps says HS2 cannot have ‘open-ended cheque’ as Sunak set to wield axe It would be ‘irresponsible’ to keep spending money on HS2, cabinet minister says How the timeline for banning petrol and diesel cars has shifted over the years

Italian banks will be allowed to avoid paying a controversial windfall tax introduced last month if they set

Rishi Sunak may announce a decision to scrap a key section of the flagship HS2 high-speed railway line

A popular rapper in France known as MHD has been given a 12-year jail term for the murder of a young man in Paris in 2018. The 29-year-old, whose real name is Mohamed Sylla, was found guilty of involvement in the gang-related murder of Loic K, 23, by a court in the capital. The rapper was charged with voluntary manslaughter in 2019 after the victim was knocked down by MHD’s Mercedes, then beaten and stabbed to death by a crowd of about 12 people. MHD was arrested on 15 January 2019 and two days later indicted and charged with second-degree murder. The rapper continued to plead his innocence up to and including on the day of his sentencing, according to the AFP news agency. “From the beginning, I have maintained my innocence in this case and I will continue to maintain my innocence,” he reportedly said. He was tried alongside eight co-defendants, out of which three were acquitted, while five others received sentences ranging from 10 to 18 years, according to The Guardian. MHD said he was never at the scene of the murder, arguing that the case against him was based on rumours. However, a video shot by a local resident showed a car during the incident which was later identified as belonging to MHD. Other witnesses identified him by his haircut and a jumper. The incident was earlier reported as a fight between two rival street gangs. Arguing his innocence, his lawyer cited his “lack of a judicial record” and affirmed he has “never been involved in fights between street gangs”. It was not immediately clear whether the rapper or others sentenced will challenge the decision. MHD is known for blending trap music with the music of West Africa in a genre he coined “Afro Trap”. He started his career at the age of 18 and soon rose to fame with his music videos on YouTube. Read More French activists protest racism and police brutality while officers are on guard for key events Security guard stabbed rapper to death at party attended by hundreds, jury hears Fans believe they’ve unearthed proof of Kim Kardashian’s Drake crush in new video Six young activists devote years to climate fight with 32 governments. Now comes their day in court Lots of dignitaries but no real fireworks as the Asian Games open French activists protest racism and police brutality while officers are on guard for key events

Republican presidential candidate Ron DeSantis said he opposes NATO membership for Ukraine and he doesn’t think it’s in

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There's a star the Federal Reserve is chasing.

One year since former Prime Minister Liz Truss’s spending plans drove the pound to a record low, markets

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