High-Speed Rail and Royal Mail Shakeup Spotlight UK's Financial Shifts

Key stories from the Financial Times highlight the sale of Royal Mail to Daniel Kretinsky and former Tory minister Greg Clark's new role in Labour's industrial strategy. Additionally, the cost of the HS2 railway project has surged to 66 billion pounds, sparking fiscal concerns.

Royal Mail's ownership has shifted from British hands following its sale to Czech billionaire Daniel Kretinsky. The deal, finalized after commitments to the UK government, marks a significant change in the country's postal landscape.

In political circles, former Conservative minister Greg Clark has been appointed to the Labour government's industrial strategy council. His role will involve advising on economic boosts, reflecting a cross-party effort to enhance the economy.

The High Speed 2 railway project continues to face fiscal scrutiny, with management estimating its cost at a staggering 66 billion pounds. This figure exceeds previous calculations by nine billion pounds, igniting debates over the project's financial viability.

(With inputs from agencies.)