UK's 2nd largest city declares bankruptcy – Chinadaily.com.cn – China Daily

The city centre of Birmingham. [Photo/VCG] Fears grow over fate of more councils after Birmingham files for insolvency Local governments in the United Kingdom went into panic mode on Wednesday after Birmingham City Council effectively declared itself bankrupt. Authorities warned that more councils across the UK could declare themselves in financial dire straits. Birmingham City…

The English councils that have gone 'bankrupt': Birmingham becomes the latest authority to run out of cash ami – Daily Mail

The English councils that have gone ‘bankrupt’: Birmingham becomes the latest authority to run out of cash amid warnings dozens more could follow – is your local authority at risk? The Labour-run local authority will halt almost all spending in the city Councillors blamed lower business rates, inflation, and adult social care bills  By Tom…

Britain's second-largest city effectively declares bankruptcy – CNN

Britain’s second-largest city effectively declares bankruptcy Link Copied! Britain’s second-biggest city effectively declared itself bankrupt, shutting down all nonessential spending after being issued with equal pay claims totaling up to 760 million ($954 million). CNN’s Anna Stewart reports. 03:02 – Source: CNN Read the full article at: https://edition.cnn.com/videos/business-money/2023/09/06/exp-birmingham-bankruptcy-stewart-090610aseg2-cnni-money.cnn

Fears Grow For UK Councils After Second City Declares Insolvency – Barron's

Birmingham City Council is one of Europe’s largest local authorities BERTRAND LANGLOIS RECASTS throughout, ADDS quotes, background, statistics Local government bodies on Tuesday warned that more councils across the UK could declare themselves in financial dire straits, after the country’s second biggest city said it could not balance its books. Birmingham City Council in central…

Britain bankruptcy: This UK city has declared itself bankrupt | Mint – Mint

Britain’s second-largest city has reportedly declared itself bankrupt and has shut down all non-essential spending after being issued with equal pay claims totaling up to 760 million ($956 million). According to a report by CNN, the deficit arose due to difficulties paying between around $816 million and around $954 million in equal pay claims. Birmingham…