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The Latest Breaking News from Kwasi Kwarteng

Boris Johnson to face MPs following Tory revolt

The PM will take Commons questions after 148 Conservative MPs refused to back him in a vote of confidence

The Independent UK

Tory rebels vow to continue bid to oust Boris Johnson 'until he's gone'

Moments of high danger ahead for Boris Johnson include the Wakefield and Tiverton by-elections which the Tories are expected to lose. The PM also faces a damaging Commons investigation

Daily Mirror

Scotland set to be dragged out of world's biggest science research fund amid UK/EU dispute

SCOTLAND could be cut out of the biggest scientific research programme in the world due to an ongoing dispute between the UK and EU, according to…

The National (Scotland)

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Climate campaigners demand UK Government reverses Jackdaw gas field decision

Protesters gathered outside the UK Government office in Edinburgh after Shell was given final approval to develop a controversial new gas field in the North Sea.

Daily Record

Campaigners threaten legal battle after new gas field wins final approval

ENVIRONMENTAL campaigners are threatening legal action in a bid to halt development of the Jackdaw gas field after it was awarded final regulatory…

The National (Scotland)

Tory U-turn gives permission for new gas field in ‘British’ waters

THE UK Government has caved to pressure from the oil and gas industry and removed a block on the development of a gas field in “British”…

The National (Scotland)

UK Government confirms plans to tackle dominance of audit 'Big Four'

A new regulator is set to be introduced to avoid the sudden collapse of big companies

Insider UK

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Hinkley Point B owner says it will not extend life of nuclear plant

EDF Energy tells staff reactors will be shut down in summer despite concerns of blackouts later this year

The Guardian - UK

Boris Johnson to keep coal power stations fired up as No10 can’t rule out blackouts

Government modelling warned up to six million households could be affected by power cuts this winter in a 'reasonable' worst case scenario triggered by Russia's invasion of Ukraine

Daily Mirror

Government 'considering' extending Hinkley Point B to protect UK electric

The business secretary has looked at continuing generation at the Somerset power station to guard against depleted European gas supplies

Birmingham Post

Six million homes 'could face winter power cuts' if Russia-Ukraine war escalates

Government modelling of a 'reasonable' worst-case scenario predicts major gas shortages in winter if Russiacuts off more supplies to the EU

Daily Mirror

Hinkley Point B nuclear power plant could get life extension, minister suggests

Chris Philp has said that for the Government ‘safety is paramount’ when it comes to nuclear power generation.

The Independent UK

Six million UK homes ‘could face winter power cuts and rationing’ if Russia cuts supplies

Threats to security of supply have prompted Business Secretary Kwasi Kwarteng to ask Britain’s coal-fired power stations to delay their closures.

The Independent UK

Ministers warned of ‘millions’ of winter power cuts and rationed supply

Threats to security of supply have prompted Business Secretary Kwasi Kwarteng to ask Britain’s coal-fired power stations to delay their closures.

The Independent UK

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Wales Online

USA clashes with UK business secretary over defence companies

Kwasi Kwarteng has been accused by intelligence sources of jeopardising future partnerships

The Guardian - UK

Sunak’s design for the windfall tax is complex, but is it any good?

Labour is right to crow as the chancellor’s hand is finally forced, but we need to see what materialises

The Independent UK

How Johnson, Sunak and other senior ministers previously condemned windfall tax

The Government had spent recent months dishing out criticism over the idea of a tax on oil and gas firms’ extraordinary profits.

Benzinga

Morning Brief: Top Financial Stories Dominating on Thursday, May 26

CNBC Two Major Tech Deals Come Under UK Government Scrutiny

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Benzinga

Two Major Tech Deals Come Under UK Government Scrutiny

The U.K. will review Altice USA Inc's (NYSE:ATUS) increased stake in BT Group plc (OTC:BTGOF) after Business Secretary Kwasi Kwarteng exercised new takeover powers focusing on national security, reports CNBC. The company announced that the U.K. Business Secretary Kwasi Kwarteng is "calling in" its deal with Altice, which telecom magnate Patrick Drahi owns. BT Group said it…

The Guardian - UK

Kwasi Kwarteng to review French billionaire’s BT stake over security concerns

Business secretary intervenes after biggest shareholder Patrick Drahi raised stake in UK telecom giant to 18%

Birmingham Post

Chinese acquisition of UK's leader microchip plant being reviewed on national security grounds

The UK Government has confirmed an assessment of the deal by Chinese-owned firm Nexperia to acquire Newport Wafer Fab

The Guardian - UK

Steve Rowe’s warts-and-all M&S farewell just enhances credibility for investors

Outgoing CEO spelled out what still left undone, but retailer in better shape than in recent past

The Guardian - UK

SSE chief says windfall tax may hinder work on UK energy self-reliance

Alistair Phillips-Davies pledges £24bn of investment as his company reports 15% rise in profits

Evening Standard

SSE reports increased profits on £24 billion renewable energy pledge

Energy company made £1.5 billion this year amid calls for a windfall tax

The Guardian - UK

Sunak races to finalise cost of living response after energy bills warning

Measures could be announced as soon as Thursday as households face price cap rise of more than £800

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