logo
UK Cuts World Bank Funding by 10% After Slashing Aid Budget

UK Cuts World Bank Funding by 10% After Slashing Aid Budget

Bloomberg22-07-2025
The UK is cutting its £1.98 billion ($2.7 billion) pledge to an arm of the World Bank by 10% and reducing aid to some countries to help cover the cost of increased military spending.
Prime Minister Keir Starmer's government on Tuesday said it would soften the impact of rolling back its commitment by accelerating the pace of the payments to the International Development Association, which extends low-interest loans to poor countries. That would allow the bank to generate income with the money more quickly, offsetting the effect of the cut, the government said.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Benjamin Sesko: Newcastle make €80m bid for RB Leipzig striker
Benjamin Sesko: Newcastle make €80m bid for RB Leipzig striker

New York Times

timea minute ago

  • New York Times

Benjamin Sesko: Newcastle make €80m bid for RB Leipzig striker

Newcastle United have made an offer worth €80million for RB Leipzig striker Benjamin Sesko. The bid is comprised of €75m up front with a further €5m in potential add-ons, and was tabled by Newcastle in the past 24 hours. The Athletic reported on July 24 that Newcastle were considering a move for the 22-year-old in the event that Alexander Isak leaves the club, with the Swedish striker wanting a transfer this summer. Advertisement Newcastle have rejected a formal £110million offer from Liverpool for Isak but the Premier League champions retain a strong interest in the 25-year-old. Manchester United are also interested in Sesko and the Slovenia striker is yet to make a firm decision on his preferred destination. Sesko had been monitored by Arsenal before the north London side opted to pursue a move for Isak's compatriot Viktor Gyokeres, who they signed last month in a deal worth €63.5million (£54.8m; $74.2m) plus €10m. Chelsea had also admired Sesko for several years, though they moved to sign forwards Liam Delap and Joao Pedro earlier this summer. Sesko's Leipzig deal runs until 2029, having signed a new contract last year, which was expected to include a gentleman's agreement that would allow him to leave for the right project. His previous deal contained a €65m release clause. The Slovenia international joined Leipzig in 2023 from Red Bull Salzburg, with both clubs owned by the Red Bull GmbH conglomerate. He has made 87 appearances for Leipzig, scoring 39 goals and providing eight assists. He made his senior Slovenia debut the day after his 18th birthday and has scored 16 goals in 41 games, representing his nation at the 2024 European Championship. Liverpool had previously communicated their interest in doing a deal for Isak in the region of £120million ($162m) though Newcastle's stance had been that the Swede was not for sale. Isak did not play in a friendly against Celtic or join the team's pre-season tour of Asia, with the club stating that this was down to a minor thigh problem but sources, speaking anonymously as they were not authorised to do so publicly, indicate the forward favoured being omitted with his future uncertain. Isak is currently training alone at his former club Real Sociedad. Advertisement Analysis by German football writer Seb Stafford-Bloor Reasonably well, but it was not the season he needed to produce to assuage the doubts. While his overall level of performance improved in the broader sense, with Sesko becoming more connected with the rest of the Leipzig side, his goalscoring numbers were down. He scored one fewer Bundesliga goal (13) in 2024-25 than he did the year before, despite playing almost an extra 900 minutes. He was never able to replicate that seven-game streak from the previous year, either, meaning that it felt underwhelming as a result, despite some eye-catching goals (particularly against Bayern Munich at the Red Bull Arena). But Leipzig had a bad season. They sacked Marco Rose in March, limped to their lowest finish since being promoted to the Bundesliga in 2016 and only won one game of their eight Champions League games. That's valuable context. Nevertheless, consistency was still an issue for Sesko and the gap between his best performances and his worst, which is a historic criticism, remains too wide.

Narf Industries Full Year 2025 Earnings: US$0.002 loss per share (vs US$0.001 loss in FY 2024)
Narf Industries Full Year 2025 Earnings: US$0.002 loss per share (vs US$0.001 loss in FY 2024)

Yahoo

time29 minutes ago

  • Yahoo

Narf Industries Full Year 2025 Earnings: US$0.002 loss per share (vs US$0.001 loss in FY 2024)

Narf Industries (LON:NARF) Full Year 2025 Results Key Financial Results Revenue: US$3.00m (down 51% from FY 2024). Net loss: US$3.56m (loss widened by 206% from FY 2024). US$0.002 loss per share (further deteriorated from US$0.001 loss in FY 2024). AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. All figures shown in the chart above are for the trailing 12 month (TTM) period Narf Industries shares are down 17% from a week ago. Risk Analysis Before you take the next step you should know about the 5 warning signs for Narf Industries (3 are significant!) that we have uncovered. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Kering in talks with Qatar for sale of Milan building, Corriere says
Kering in talks with Qatar for sale of Milan building, Corriere says

Yahoo

time29 minutes ago

  • Yahoo

Kering in talks with Qatar for sale of Milan building, Corriere says

ROME (Reuters) -Gucci-owner Kering is in talks with a member of the Qatari royal family for the sale of a building in Milan's top shopping avenue, Italian daily Corriere della Sera reported on Saturday. The deal could help the French luxury group cut its debt, which ballooned to more than 10 billion euros ($11.58 billion) in 2024, following a series of expensive acquisitions. Among them was the 18th century property in Via Montenapoleone, which the French group bought from Blackstone for 1.3 billion euros in April last year. Corriere said Kering was looking at selling a majority stake in the company through which it owns the building, based on a "similar valuation". It added that the buyer would be a vehicle linked to former Qatari Prime Minister and real estate billionaire Hamad bin Jassim bin Jaber Al-Thani. Kering declined to comment on the report. It was not immediately possible to contact Al-Thani for a comment. In April, when Corriere first reported about a possible Qatari-Kering deal for the Via Montenapoleone property, the Qatar Investment Authority denied it had any interest. Kering, which appointed former Renault CEO Luca de Meo to lead the group from September, is under pressure to trim debt and revive declining sales, particularly at its top brand Gucci. ($1 = 0.8633 euros) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store