United Kingdom Pounds

Carillion collapsed on Monday when its banks pulled the plug, triggering Britain’s biggest corporate failure in a decade and forcing the government to step in.

Britain slashed its economic growth forecasts and expects to borrow a lot more going into the next decade, finance minister Philip Hammond said, but he nonetheless plans to spend more in the next couple of years to offset the impact of Brexit.

South Korea said on Tuesday an agreement with the United States to scrap a weight limit on its warheads would help it respond to North Korea’s nuclear and missile threat.

Britain’s sluggish economy looks set for more weak growth stretching out over the next five years, according to official forecasts announced by finance minister Philip Hammond on Tuesday as the country heads for Brexit.