Receive Breaking News updates as they occur
BANGKOK (AP) — Protesters cut off electricity to the prime minister's office compound on Thursday and demanded that police abandon the premises, piling pressure on the government amid a political crisis that has dragged on for weeks.
Britain has more at stake than many other countries from a relaxation of Chinese capital controls and must be ready to cope with a tidal wave of renminbi flows over the next decade, according to a Bank of England study. The paper suggests that China's external assets and liabilities could jump from less than 5 percent of global GDP today to more than 30 percent by 2025. "If China does liberalise, few other events over the next decade are likely to have more impact," said John Hooley, author of the paper entitled "Bringing down the Great Wall? Britain's large and open financial system, combined with its fast-growing financial ties with China, means it is likely to be particularly affected by the expected further opening up of the Asian powerhouse to global financial markets.
By Foo Yun Chee and Karolin Schaps BRUSSELS/LONDON (Reuters) - The European Commission will open an investigation next week into planned British support for a new nuclear power plant, two people familiar with the matter said, in a precedent-setting case for future nuclear funding in Europe. Britain has offered EDF a price guarantee lasting 35 years on power from a plant which the French utility plans to build in southwest England. The European Commission's competition directorate will investigate three main points: the length of the contract, the value of the agreed minimum electricity price and a government loan guarantee, one of the sources said. "Britain says this (assistance) is necessary because it's a nuclear project," the source said.