Starmer's Bold Push for UK Nuclear and Business Reforms

The Financial Times highlights major developments, including UK Prime Minister Keir Starmer's plans to enhance nuclear power through planning reforms and Lloyds Bank facing a substantial tax bill. Additionally, the EU is scrutinizing fast-fashion retailer Shein over consumer protection issues, and UK lawmakers criticize the FCA's transparency policies.

British Prime Minister Keir Starmer has unveiled ambitious plans aimed at revamping the nation's nuclear power landscape. The initiative includes extending the list of potential sites for nuclear development and introducing reforms to expedite the planning process.

In a setback for Lloyds Banking Group, the financial institution is now required to settle a 1 billion pound tax bill. This decision comes after losing the first phase of a legal battle with HM Revenue & Customs concerning financial losses incurred in Ireland post-financial crisis.

The European Commission has announced its intent to hold fashion retailer Shein accountable for selling unsafe products, part of broader efforts against the influx of low-cost e-commerce imports into the EU. Meanwhile, UK lawmakers have urged the Financial Conduct Authority to reconsider its approach to publicizing firms under investigation due to potential consumer risk imbalances.

(With inputs from agencies.)