United Kingdom

LONDON, Jan. 17 (Xinhua) -- Britain will host the first in-person Group of Seven (G7) summit in almost two years in June this year, according to a statement released late Saturday by the British Foreign, Commonwealth and Development Office.

British Prime Minister Boris Johnson will use Britain's G7 Presidency "to help the world build back better from coronavirus and create a greener, more prosperous future," said the statement.

LONDON (Reuters) - British finance minister Rishi Sunak has proposed giving a one-off 500 pound ($679) grant to recipients of the country’s main unemployment and wage support benefit instead of extending a temporary increase on the welfare payments, The Times reported on Saturday.

British welfare benefits for working-age adults are low compared with elsewhere in Europe, and the government temporarily increased them by 20 pounds per week last year at the start of the coronavirus pandemic as job openings dried up.

LONDON (Reuters) - Oil prices fell on Friday as concerns about Chinese cities in lockdown due to coronavirus outbreaks tempered a rally driven by strong import data from the world’s biggest crude importer and U.S. plans for a large stimulus package.

Brent was down 93 cents, or 1.7%, at $55.49 by 0950 GMT, after gaining 0.6% on Thursday. U.S. West Texas Intermediate crude was down 71 cents, or 1.3%, at $52.86 a barrel, having risen more than 1% the previous session.

LONDON (Reuters) - The British government said on Friday it had no plans to lower standards on workers’ rights, rejecting a Financial Times report that a shake-up of EU labour regulations as part of a post-Brexit overhaul was in the works.

LONDON (Reuters) - Oil prices dipped on Thursday as bullish signals from Chinese import data and U.S. crude oil stocks draws were outweighed by surging coronavirus cases in Europe and new lockdowns in China.

Brent crude oil futures fell 36 cents to $55.70 a barrel by 0917 GMT, while U.S. West Texas Intermediate (WTI) dropped 26 cents to $52.65.

Brent’s six-month backwardation, whereby contracts for later delivery are cheaper, fell to its lowest since Jan. 5, indicating bullish sentiment easing.

LONDON (AP) — British Prime Minister Boris Johnson has said a lot of nice things about Donald Trump over the years, from expressing admiration for the U.S. president to suggesting he might be worthy of the Nobel Peace Prize.

But after a mob of Trump supporters invaded the U.S. Capitol on Jan. 6, Johnson has changed his tune.

Trump, he said, had encouraged the violent insurrection, had disputed the result of a “free and fair election,” and was “completely wrong.”

LONDON (Reuters) - Oil prices fell after earlier gains on Wednesday as rising global COVID-19 cases took the shine off a rally spurred by a bigger-than-expected drop in U.S. crude inventories.

Brent crude prices were down 34 cents, or 0.6%, at $56.24 a barrel by 1512 GMT. Prices rose as far as $57.42 a barrel earlier in the session, the highest since Feb. 24.

The next milestone for Brent prices is a rise above $60, a level not seen since late January 2020.

LONDON (Reuters) - Oil hit an 11-month high just below $57 a barrel on Tuesday as tighter supply and expectations of a drop in U.S. inventories offset concerns over rising coronavirus cases globally.

Saudi Arabia plans to cut output by an extra 1 million barrels per day (bpd) in February and March to stop inventories from building up. The latest U.S. supply reports are expected to show crude stocks fell for a fifth straight week. [EIA/S]

LONDON (Reuters) - Britain will introduce new rules for companies to try to prevent goods from China’s Xinjiang region entering the supply chain, foreign minister Dominic Raab said on Tuesday, toughening London’s response to allegations of forced labour.

He told parliament Britain would create more robust guidance for due diligence on sourcing, toughen the Modern Slavery Act to include fines, bar from government contracts any companies which do not comply to procurement rules and launch a Xinjian-specific review of export controls.

LONDON (AP) — The U.K. opened seven mass vaccination centers Monday as it moved into the most perilous moment of the COVID-19 pandemic, with exhausted medical staff reeling under the pressure of packed hospitals and increasing admissions.

England’s chief medical officer, Dr. Chris Whitty, warned people to strictly follow measures to prevent the spread of the virus while they wait their turn for a vaccine shot. The government is trying to vaccinate some 15 million people by Feb. 15 — but Britain’s National Health Service is struggling to treat those who are ill now.