UK leadership favourite Liz Truss U-turns on pay plan in first big misstep

Newsletter Aug 3, 2022 [ International Business Times]( [UK leadership favourite Liz Truss U-turns on pay plan in first big misstep]( British foreign minister Liz Truss, the front-runner to replace Boris Johnson as prime minister, was forced to backtrack on one of her most striking pledges a day after announcing it following a backlash from fellow Conservatives and opposition parties. [Learn more about Jeeng]( ['We come in friendship to Taiwan, peace to the region': Pelosi]( She landed in Taiwan late Tuesday, defying a string of increasingly stark warnings and threats from China, which views Taiwan as its territory and had warned it would consider her visit a major provocation. You Might Like    [Learn more about Jeeng]( [BP profit triples to $9.3 bn on soaring energy prices]( Net profit hit $9.3 billion in the three months to June -- a threefold increase from the same period last year, the company said in a results statement. [UK PM hopeful sparks anger with jibe at Scottish leader]( Scotland's ruling nationalists on Tuesday angrily rounded on British Conservative frontrunner Liz Truss. [Banks must reflect cost of living crisis in pay, says UK watchdog]( Britain's financial watchdog said on Tuesday that the cost of living crisis, meeting climate targets and improving diversity should be reflected in how banks determine pay and bonuses. [Nearly 700 migrants crossed Channel on Monday in 2022 record: UK]( More than 28,500 -- most of them young men -- arrived on British shores last year. The all-time daily record of 853 was set in November 2021. [Stocks and bond yields fall on Taiwan tensions]( Global stocks slipped and bond yields fell on Tuesday, compounding fears of a global recession, on concern that a visit by U.S. [UK's Domino's Pizza says inflation took bite out of profits]( Britain's Domino's Pizza reported a 16% fall in first-half pretax profit on Tuesday. [Natural disaster losses hit $72 bn in first half 2022: Swiss Re]( Total economic losses caused by natural disasters hit an estimated $72 billion in the first half of 2022. [After a record first half, Lamborghini prepares for a cold winter]( Chief Executive Stephan Winkelmann said he is preparing for a challenging winter if Europe's energy crunch gets worse. [U.S. crypto firm Nomad hit by $190 million theft]( U.S. crypto firm Nomad has been hit by a $190 million theft, blockchain researchers said on Tuesday. [NHS launches new system for diabetics]( At present, the NHS spends around £10 billion on diabetes care each year. [Premier League's top four hopefuls primed for tense race]( Chelsea, Tottenham, Arsenal and Manchester United have spent the close season aggressively pursuing new recruits with varying degrees of success.  [Learn more about Jeeng]( [IBTimes]( IBTimes will always protect your security and privacy. Please read our detailed [Privacy Policy.]( Please do not reply to this email. [Click here]( to adjust your notification preferences or unsubscribe. © Copyright 2022 IBTimes LLC. All Rights Reserved. IBTimes LLC, 33 Whitehall ST FL 7, New York, NY 10004 U.S.A, New York, New York 10004, United States You may [unsubscribe]( or [change your contact details]( at any time.