3 d. ago British Business Bank back in the spotlight with £10bn UK growth mandate

Louis Taylor, CEO of state-owned lender, targets investment in eight key UK sectors as he prepares defence at Covid inquiryLouis Taylor is caught between two eras. The chief executive of the British Business Bank (BBB) has spent much of his tenure attempting to revive the state-owned lender’s image after a battering from the fraud-hit pandemic loan scheme under the last government, and will soon have to defend its actions at the Covid inquiry.But until then, he can focus on the BBB’s gleefully landed fresh £10bn mandate linked to the centrepiece industrial strategy Labour hopes will boost a flagging economy as it nears the end of its first year in power. Continue reading...

Economics

3 d. ago Big British Bank back in the spotlight with £10bn UK growth mandate

Louis Taylor, CEO of state-owned lender, targets investment in eight key UK sectors as he prepares defence at Covid inquiryLouis Taylor is caught between two eras. The chief executive of the British Business Bank (BBB) has spent much of his tenure attempting to revive the state-owned lender’s image after a battering from the fraud-hit pandemic loan scheme under the last government, and will soon have to defend its actions at the Covid inquiry.But until then, he can focus on the BBB’s gleefully landed fresh £10bn mandate linked to the centrepiece industrial strategy Labour hopes will boost a flagging economy as it nears the end of its first year in power. Continue reading...

Economics

5 d. ago Nato to unveil new 5% defence spending target this week, chief indicates

Prime Minister Sir Keir Starmer is among the world leaders expected in The Hague in the Netherlands this week for the Nato summit.

Events

6 d. ago Donald Trump's defence chief claims Iran attack was shared with lawmakers

US Secretary of Defense Pete Hegseth was asked when congress was informed that President Trump had taken executive action to launch an offensive on Iran

Politics

9 d. ago Spain threatens to block NATO 5% defence spending target in snub to alliance chief who demanded nations boost spending

NATO Secretary General Mark Rutte is pushing bloc members to boost their defence spending to 5% GDP by 2032, after Trump declared America's allies were shirking their responsibilities

Events

2 w. ago Chinese fighter jet in near miss with Japanese military plane as Pacific tensions rise

J-15 fighter jet took off from Chinese aircraft carrier off Japanese coast and came within 45 metres of Japanese Self-Defence Force aircraftJapan has voiced “serious concern” over a near miss involving one of its military planes and a Chinese fighter jet in the Pacific, where recent manoeuvres by Chinese aircraft carrier groups have raised tensions across the region.The Chinese aircraft took off from a moving aircraft carrier, the Shandong, and reportedly flew within 45 metres of a Japanese Self-Defence Force (SDF) patrol plane shortly afterwards. On Thursday, Japan’s chief cabinet secretary, Yoshimasa Hayashi, urged Beijing to prevent a repeat of the incident, which took place at the weekend. Continue reading...

Events

2 w. ago Russia is planning an attack on NATO territory to test the Western alliance's joint defence, German spy chief warns

Vladimir Putin is plotting to attack a NATO territory to test the bloc's mutual assistance clause, Germany's spy chief has warned. 

Events

2 w. ago Nato chief Mark Rutte warns UK must spend more on defence or ‘learn to speak Russian’

Nato needs a 400% increase in air and missile defence, Mr Rutte says, warning Russia could be ready to use force against it within five years

Events

2 w. ago Britons ‘better learn to speak Russian’ without major defence spending hike, Nato chief warns

The Nato secretary general said there is no discrepancy between the UK's current defence spending goals and his own push for members to reach 5 per cent of GDP

Events

2 w. ago Nato chief says UK’s defence spending plans not at odds with 5% goal

Mark Rutte would not reveal the deadline for when he hopes Nato allies will reach the target.

Politics

2 w. ago Brits should learn to speak Russian if defence spending isn't ramped up, NATO chief warns

NATO secretary general Mark Rutte, speaking at an event in central London, warned that Vladimir Putin will be able to mount a credible threat against the bloc within five years, with missiles able to reach European capitals in minutes

Events

2 w. ago Keir Starmer holds talks with Nato chief as he pushes Britain to agree £30BILLION hike in defence spending demanded by Donald Trump

Mark Rutte has been holding talks with the PM in London, and gave a speech warning of the need for a 'quantum leap' in investment.

Economics

2 w. ago NATO chief says a '400% increase' in air and missile defence is required to protect Europe from Putin and become 'a more lethal alliance'

NATO head Mark Rutte will on Monday call for a 'quantum leap' in defence capacities including a '400-percent increase' in air and missile defence which 'protects' the alliance against Russia.

Events

2 w. ago Rutte to meet PM as Nato chief says ‘quantum leap’ in defence needed

The secretary general of the military bloc is expected to say Nato must ‘become a stronger, fairer and more lethal alliance’.

Politics

3 w. ago UK faces calls for 5% GDP defence spend, ahead of PM’s meeting with Nato chief

Mark Rutte, the secretary general of the alliance, said on Thursday he is proposing Nato members spend 5% of gross domestic product (GDP) on defence.

Politics

3 w. ago NATO chief makes huge demand to UK on defence spending after Donald Trump calls

NATO Secretary-General Mark Rutte today said allies will find themselves 'in great difficulty' in the coming years if they stick with the current 2% GDP alliance spending target

Politics

3 w. ago Will Nato states have to find $325BILLION a year more for defence? Alliance chief heaps pressure on Starmer saying Europe and Canada must 'equalise' contributions with the US

Nato secretary-general Mark Rutte warned that the current target of spending 2 per cent of GDP on defence is no longer sustainable after very public criticism from Donald Trump.

Economics

3 w. ago Keir Starmer 'picks money man RAF chief to head UK Armed Forces' as he launches push to get Britain 'war

Air Chief Marshal Sir Richard Knighton, an RAF engineer, is reportedly in line to be the next Chief of Defence Staff.

Events

3 w. ago Starmer chooses RAF chief Sir Richard Knighton to lead armed forces

Prime minister is understood to have made chief of the defence staff appointment amid what has been billed as the most transformative period for the MoD in decades

Events

3 w. ago Nato to force UK to lift defence spending to 3.5% of GDP to appease Trump, say sources

Starmer bound to accept Mark Rutte’s higher target after announcing ‘Nato-first’ defence strategy, insiders sayDefence sources believe that Britain will be forced to sign up to a target of lifting defence spending to 3.5% of GDP by 2035 at this month’s Nato summit after a campaign by the alliance’s secretary general to keep Donald Trump onboard.One senior insider said Britain would “without a doubt” sign up to a proposal from the Nato chief, Mark Rutte, to lift allies’ defence spending, which would represent a real-terms increase of about £30bn from the Labour government’s plan. Continue reading...

Politics