River Severn flooding: Levels remain high as river peaks in Worcester - BBC News

This video can not be played

To play this video you need to enable JavaScript in your browser.

Flooding along the River Severn is slowly subsiding in some areas as water levels peak elsewhere.

There is still a danger to life warning in Bewdley in Worcestershire and Ironbridge in Shropshire where water levels have already peaked.

The River Severn is starting to peak in Worcester but is "increasingly drawn out", the Environment Agency said.

The situation was "going to get worse before it gets better", said Worcestershire County Council.

PA Media

The River Severn's peak reached Worcester at around 17:00 GMT, Ian Jones from the Environment Agency tweeted.

While levels were falling and the situation was "gradually improving", he said the flood water would remain high for a number of days.

In Bewdley, where there is a threat to life warning, the Severn overtopped defences at Beales Corner during Tuesday afternoon.

Dan Bond, from the Environment Agency, said: "We are still facing a significant flooding risk, and we are urging people to remain vigilant and take extreme care.

"Last weekend's heavy rainfall on already wet areas continues to cause river flooding along the River Severn and is likely to continue over the next few days."

His colleague, Nick Green, said the flooding had been "incredibly frightening" for the Bewdley community - search and rescue crews have been checking properties after dozens were evacuated.

PA Media

Some residents have criticised the government's response, including Maxine Preece in Bewdley who said it was "very disappointing" that she did not see any rescue workers on her side of the river.

"I think they have just decided we were going to flood, it feels that way, and just told us to prepare ourselves and left," she added.

The temporary barriers at Beales Corner were also breached in 2021 and while the Environment Agency intends to submit a planning proposal for permanent defences later this year, they are unlikely to be operational until at least 2024.

PA Media

In Shrewsbury too, where large parts of the town were underwater after the Severn peaked there on Monday, residents have expressed disdain.

Paul Fairhurst and Sarah Jackaman have been flooded about 15 times but said flooding over the past three years had been the most significant.

"This is the third year we've seen these unprecedented levels of water," Ms Jackaman said.

"We were promised millions of pounds for this region and the Severn catchment to come up with solutions for flooding and we've yet to see any of the benefits."

This video can not be played

To play this video you need to enable JavaScript in your browser.

Responding to the criticism, the Environment Agency said: "We prioritise our resources, and will assist householders if we have the resources to do so once public maintained assets are operational.

"Where defences are outflanked we undertake pumping were possible and safe, as well as usual providing warning, informing, and in cases such as Bewdley, supporting other responders in evacuation."

Vickie Warren

Data from Environment Agency monitoring stations near Bewdley suggest river levels exceeded the normal range at about 13:30 GMT on Saturday.

Officials say levels are forecast to remain high for a long period due to further rainfall this week, though current estimates suggest it won't reach a historic high of about 5.5m.

Some properties in Worcester have already flooded, particularly in the Diglis area.

Sam McCarthy from Worcester Business Improvement District (BID) said flood warnings had impacted footfall in the city.

"Businesses have been through a really difficult period over the last 18 months, so this is something they really could do without at this point in time," she said.

• In Pictures: Flooding caused by the River Severn
• How do flood defences work?
• Hardship fund announced for flood-hit areas

In Ironbridge, water levels were still high against barriers, so the Wharfage remained closed to vehicles and pedestrians, Telford & Wrekin Council said.

Levels peaked during the night at 21.65ft (6.6m), but were "now slowly retreating", it said.

The Ironbridge Gorge Museum Trust said the Museum of The Gorge and Coalport China Museum were both flooded.

As a result of the flooding in Ironbridge, it had also had to close the Tollhouse and the Jackfield Tile Museum.

Karen Davies, from the trust, said: "We have just redecorated Coalport after the floods of 2020, we were just starting renovation work, significant renovation work, on the Museum of the Gorge, and it will take team spirit to get in there and get the museums open."

The river has also burst its banks at Bridgnorth, where a flood reception centre has opened to help those affected.

Levels peaked in the town at about 06:00 GMT when the water reached heights of 5.12m.

This video can not be played

To play this video you need to enable JavaScript in your browser.

Villagers in Melverley near the Welsh border had been out in a boat collecting "vital medication for neighbours and feed for animals", Shropshire Council said.

It said residents told them that it was "the worst flooding for at least 20 years".

Nick Green, from the Environment Agency, said although some areas had peaked, river levels would not go down for some time.

"Any rain that now falls on the Welsh mountains, because the ground's so soggy, there's no ability for it to soak up," he said.

"So it just goes straight into the river system and then it has to work its way down through Shropshire, Worcestershire, Gloucestershire and out into the sea."

The River Wye has peaked in Herefordshire and flood water has been slowly falling.

Follow BBC West Midlands on Facebook, Twitter and Instagram. Send your story ideas to: newsonline.westmidlands@bbc.co.uk

More on this story

• Rescues and evacuations as River Severn rises

  13 hours ago

  

• Hardship fund announced for flood-hit areas

  10 hours ago

  

• In Pictures: Flooding caused by the River Severn

  1 day ago

  

• Major incident declared as flood waters rise

  1 day ago

  

• Flood and travel warnings in place across region

  2 days ago

  

• Storm Franklin: How do flood defences work?

  1 day ago

  

Around the BBC

• BBC Weather

Related Internet Links

• Environment Agency

• Shropshire Council

The BBC is not responsible for the content of external sites.

Adblock test (Why?)

https://news.google.com/__i/rss/rd/articles/CBMiQWh0dHBzOi8vd3d3LmJiYy5jby51ay9uZXdzL3VrLWVuZ2xhbmQtaGVyZWZvcmQtd29yY2VzdGVyLTYwNDkwMDgx0gFFaHR0cHM6Ly93d3cuYmJjLmNvLnVrL25ld3MvdWstZW5nbGFuZC1oZXJlZm9yZC13b3JjZXN0ZXItNjA0OTAwODEuYW1w?oc=5

2022-02-23 18:05:53Z
1286850233

Russia’s waning reliance on London markets reduces UK sanctions bite - Financial Times

As world leaders tried to face down Vladimir Putin, UK prime minister Boris Johnson warned the time had come “to bring in some tough sanctions against the Russian regime”.

The “first tranche” of measures he unveiled on Tuesday targeted five small banks and three oligarchs, but were quickly criticised by British lawmakers as underwhelming.

Johnson insisted he had weapons in reserve including “stopping Russian companies raising money on London markets or stopping them even trading in pounds and dollars”. Recent trends, however, suggest such threats carry less weight than they used to.

London has been the go-to market for Russian companies to raise money outside Moscow for the past two decades: Thirty-nine Russian companies have listed in London and raised $44bn since 2005, according to data from FactSet.

But Russia’s reliance on London capital markets has approached its lowest point. Since 2014 — and following the peak of the commodities boom — only three companies have listed in the UK: gold miner Polyus, metals and energy group En+ and discount retailer Fix Price.

UK sanctions put in place as part of an international response to the annexation of Crimea in 2014 also put a brake on Russian activity.

You are seeing a snapshot of an interactive graphic. This is most likely due to being offline or JavaScript being disabled in your browser.

Forty-four equity and debt capital markets deals, raising $26bn, were executed in London between 2010 and 2014, according to Dealogic. In the seven years since, there have been 43, but they raised only $8bn and there have been none this year, it found.

Although down sharply from their peak, 24 Russian companies are still listed in London with a combined value of about $515bn. Most, including En+ and Polyus are traded as global depositary receipts — which represent shares in overseas companies while the issuer holds the underlying shares in a company’s home market — on the London Stock Exchange’s International Order Book. Russia accounts for the highest number of companies in the IOB.

Stocks such as Sberbank, Russia’s largest bank, and energy groups including Gazprom and Lukoil last month traded more than $1bn of deals, higher than many FTSE 100 companies.

As tensions have risen, turnover on Russian stocks rose 66 per cent last month, compared with the same month in 2021 and the $7bn of deals comprised three-quarters of all trades.

You are seeing a snapshot of an interactive graphic. This is most likely due to being offline or JavaScript being disabled in your browser.

The UK does have options to go further. Toughened regulations in 2018 gave the government greater powers to unilaterally act on any area of the British financial system, including the payments networks and securities depository, where hard currency such as dollars and euros are held to settle deals. Most are aimed at ensuring the “gatekeepers” such as bankers and brokers cannot transact business with targeted entities and individuals.

The House of Commons foreign affairs committee in 2019 urged the government to “close the “laundromat” that would end the flow of so-called dirty money being laundered through London.

Earlier this month, the UK extended its powers to target companies and institutions “carrying on business in a sector of strategic significance to the government of Russia”, and its wide-ranging list included energy, mining, defence, IT, financial services and chemicals.

“The Russian money [in London] we’ve always had access to, to control but there’s not been the political will,” said Ross Denton, senior consultant and head of international trade at Ashurst, the law firm. “That’s a completely different issue from what we’re considering now. What we didn’t have is the ability to say to Russian companies that ‘we will make it difficult to make and send your payments from London’.”

Many in the City have turned cautious in recent weeks. Investment banks have been discussing their exposure and how their systems would handle potential market volatility. Fund managers have been moving their risks elsewhere.

“My personal position has been very cautious since last December, end of November,” said Giampaolo Isolani, head of emerging market investment solutions at Amundi, the fund manager, which has been decreasing its Russian equity positions in recent weeks. “We are in a lower position than a month ago.”

If wide-ranging sanctions are imposed that would prevent UK, US or EU citizens from investing in Russian companies, index compilers such as MSCI International and FTSE Russell can delete from indices the securities under sanctions with a few days’ notice.

Abrdn, the fund manager, estimated that more than $20bn could flow out of Russian stocks if the measures were pursued, a large amount in isolation but not when compared with the more than $7tn benchmarked against the MSCI EM index alone.

Abrdn said its Russian equities positions were evenly split between London, New York and the local market in Moscow. “If you went back a decade, we would have had a lot more in depositary receipts because the local market didn’t offer as much,” said William Scholes, investment director of EM equities at Abrdn.

The UK may need to balance its desire for broad and tougher sanctions against hurting ordinary investors, while also trying to show that its capital markets are open to business from around the world.

Nick Bayley, managing director at Kroll and a former regulator, said: “Many of these companies aren’t vehicles of the Russian state. Once you’ve been on the markets for a while it becomes difficult to throw them off. If you’re a big global . . . investor the chances are you’ll want exposure to former Soviet companies.”

Adblock test (Why?)

https://news.google.com/__i/rss/rd/articles/CBMiP2h0dHBzOi8vd3d3LmZ0LmNvbS9jb250ZW50LzdmMGJlMDA5LTAwOGMtNDQ4MC04ODgxLTRhYmFjZTYyNWY4MdIBAA?oc=5

2022-02-23 04:00:36Z
1260207353

River Severn Flooding: Homes and businesses evacuated - BBC News

Nick Potts/PA Media

People have been rescued, properties evacuated and trains cancelled due to flooding along the River Severn.

A major incident has been declared in Bewdley, Worcestershire and Ironbridge, Shropshire. Large parts of Shrewsbury town centre are also under water.

A severe flood warning - indicating a risk to life - is in place at the Wharfage in Ironbridge, where barriers are expected to breach.

There more than a dozen flood warnings in Herefordshire and Worcestershire.

Nick Green from the Environment Agency (EA) said on Tuesday evening that levels in Bewdley, Worcestershire, were in excess of 16.4 ft (5m) and a further 12in (30cm) was possible which may cause the water to go over the barriers and flood homes.

"There's a lot of water going through the system here," he said.

People living near temporary flood barriers were advised to leave their homes before defences were overtopped, which may happen overnight. The Severn is set to peak in the town on Wednesday.

The flooding follows heavy rain during three storms over the last week - Dudley, Eunice and Franklin.

• Live updates: Risk to life as major incident declared

Franklin hammered parts of the UK on Monday and came days after Storm Eunice killed three people and left 1.4 million homes without power.

There were no train services between Hereford and Shrewsbury on Tuesday because of flooding on the line, with some parts blocked after a landslip. Several roads have also been closed.

River levels were forecasted to remain high for a prolonged period due to further rainfall this week, the EA said.

In Shropshire, a series of evacuations were carried out in different parts of the county.

Homes in the Ironbridge Gorge were among those to be evacuated, including properties in the Jackfield area.

Resident Debbie Stokes said: "I've had to climb through people's front gardens with all my bags.

"We're going to have to look at something... to help us getting out in the future, because it's now, times like this, when you realise just how dangerous this can be."

This video can not be played

To play this video you need to enable JavaScript in your browser.

Rae Evans, from The Wharfage, was evacuated from her home for the fourth time in three years.

The councillor for Telford & Wrekin Council's Woodside ward said: "When I bought the house it said it might flood once in 70 years, so that is quite different.

"I would say I bought the house because the barriers are there, I wouldn't have bought it otherwise."

The Wharfage has been closed to pedestrians. River levels there have reached 6.2m, meaning the area is no longer deemed safe.

PA Media

The peak was expected on Tuesday afternoon and an EA update at about 19:00 GMT said the temporary barriers at Ironbridge were forecast to potentially exceed their capacity and overtop, causing flooding to properties on The Wharfage.

Earlier, the leader of the council, Shaun Davies, said: "The river still has not peaked and there's still some more stressful hours ahead."

This video can not be played

To play this video you need to enable JavaScript in your browser.

"We are doing all we can to support residents and are preparing for the worst but hoping for the best," Mr Davies said.

"Some properties have no protection from flood defences and are still under water, and we have evacuated properties behind defences that could be breached while supporting those who have decided to stay put."

In Shrewsbury, the River Severn appears to have peaked at 16.9ft (5.15m), 3.9 inches (10cm) short of the record level set in 2000.

One person was rescued by the fire service from Smithfield Road in the town at about 02:45 GMT.

Many roads in the town centre were under water on Tuesday morning. Abbey Foregate car park has been closed, with English Bridge and Welsh Bridge only open to pedestrians.

Vickie Warren

Residents said they were getting tired of flooding in Shrewsbury, which was becoming more regular.

"While it brings the community together, we are getting fed up of it," Jonnie Ashley, 37, said.

"Every time we flood, it's a big clean-up operation for those by the river, and as our town centre is essentially surrounded by the river, it has an effect on how people can go about day-to-day living."

In Worcestershire, Bewdley is braced for the breaching of flood barriers, where temporary defences at Beales Corner overtopped in 2021.

PA Media

Clare Dinnis from the EA said "a lot of work" had been done "since last year to put some additional stability behind the barriers and to improve the way we've used them".

She added: "Really importantly, we've got approval for a permanent flood defence here which is in the early stages of design."

• Flood warnings as clean-up continues after storms
• Town floods three times in three years
• Storm Franklin: How do flood defences work?

Twelve flood warnings were issued for the River Severn, including in Worcester where extra flood pumps were installed on Hylton Road, which is flooded and no longer deemed safe to use.

Worcester Bridge was closed to incoming traffic from the St John's side. The Sabrina footbridge was also closed.

Streets including Severn Terrace, Croft Road and Castle Street were also closed due to flooding.

In Ross-on-Wye, Herefordshire, the river has burst its banks and spilled out on to the flood plain. The Wye peaked in Hereford and the Old Bridge has reopened.

The EA has warned that areas around Wilton, Herefordshire, may flood. The water has reached 15.2ft (4.64m) and the highest level ever recorded at Wilton was 15.6ft (4.77m) in February 2020.

Follow BBC West Midlands on Facebook, Twitter and Instagram. Send your story ideas to: newsonline.westmidlands@bbc.co.uk

More on this story

• Major incident declared as flood waters rise

  1 day ago

  

• As it happened: Residents evacuate due to flooding

  1 day ago

  

• Flood and travel warnings in place across region

  1 day ago

  

• Footage captures flooding in Bridgnorth

  1 day ago

  

• Storm Franklin: How do flood defences work?

  14 hours ago

  

Around the BBC

• BBC Weather

Related Internet Links

• Environment Agency

• Shropshire Council

• Shropshire Fire and Rescue Service

The BBC is not responsible for the content of external sites.

Adblock test (Why?)

https://news.google.com/__i/rss/rd/articles/CBMiOWh0dHBzOi8vd3d3LmJiYy5jby51ay9uZXdzL3VrLWVuZ2xhbmQtc2hyb3BzaGlyZS02MDQ3NTA3N9IBPWh0dHBzOi8vd3d3LmJiYy5jby51ay9uZXdzL3VrLWVuZ2xhbmQtc2hyb3BzaGlyZS02MDQ3NTA3Ny5hbXA?oc=5

2022-02-22 22:10:28Z
1286850233

Britain mistakenly puts Russian central bank's address on sanctions list - Reuters UK

A policeman stands guard at the main entrance to the Bank of Russia in Moscow, Russia, June 15, 2015. REUTERS/Maxim Zmeyev

Register now for FREE unlimited access to Reuters.com

LONDON, Feb 22 (Reuters) - Britain on Tuesday mistakenly assigned the address of the Russian central bank to a privately held bank with close links to Russian President Vladimir Putin that was the target of sanctions announced by Prime Minister Boris Johnson.

Johnson slapped sanctions on five private banks including Bank Rossiya, which the government said was "privately owned by elite Russian billionaires with direct links to Putin", but spared Russia's largest state banks for now. read more

The government mistakenly listed Bank Rossiya's address as "Neglinnaya, 12, Moscow, 107016, Russia" which is the address of Russia's central bank, known in Russian as "Bank Rossiya."

Register now for FREE unlimited access to Reuters.com

The private Bank Rossiya is based in the northern Russian city of St Petersburg. Neglinnaya Street in Moscow has been home to a Russian or Soviet central bank office for at least a century.

The British foreign office later issued an update to make "administrative corrections to two listings under the Russia sanctions regime" which gave the bank's correct address.

The Russian central bank in Moscow did not reply to a Reuters request for comment, but a source close to the bank said their understanding was that it was a mistake and that it had had no impact on the bank’s operations.

Register now for FREE unlimited access to Reuters.com

Reporting by Guy Faulconbridge and Dmitry Zhdannikov in London and Andrey Ostroukh in Moscow; Editing by Mark Heinrich and Jonathan Oatis

Our Standards: The Thomson Reuters Trust Principles.

Adblock test (Why?)

https://news.google.com/__i/rss/rd/articles/CBMicWh0dHBzOi8vd3d3LnJldXRlcnMuY29tL3dvcmxkL3VrL2JyaXRhaW4tbWlzdGFrZW5seS1wdXRzLXJ1c3NpYW4tY2VudHJhbC1iYW5rcy1hZGRyZXNzLXNhbmN0aW9ucy1saXN0LTIwMjItMDItMjIv0gEA?oc=5

2022-02-22 20:27:00Z
1260207353

UK weather: Properties flood as major incidents declared in the West Midlands with 'danger to life' - Sky News

A number of properties in the West Midlands have flooded, with police declaring major incidents in Shropshire and Worcestershire as water levels along the River Severn rise.

There are severe flood warnings in place in the village of Ironbridge and the town of Bewdley, with the Environment Agency saying there is a "danger to life" as temporary flood defences face being topped.

And flood-hit communities are calling for a "permanent solution" to increasingly frequent flooding amid heavy rain.

York has also been hit today, with cars submerged up to their windscreens and several properties affected after the River Ouse overtopped its banks.

In Ironbridge, flooding has hit areas without permanent defences and around 60 properties have been evacuated - but some residents have decided to stay in their homes.

Advertisement

Check the forecast in your area

Image: A house in Bewdley, Worcestershire, is surrounded by water

Image: A children's playground is submerged in Bewdley

'Tense' situation

More on Storm Eunice

Related Topics:

The situation is "tense", according to Telford and Wrekin councillor Shaun Davies, who added: "Some properties have no protection from flood defences and are still underwater.

"And we have evacuated properties behind defences that could be breached while supporting those who have decided to stay put.

"We are doing all we can to support residents and are preparing for the worst but hoping for the best."

Read more: 'Danger to life' in Shropshire and Worcester

Mr Davies also said that the government announced in 2020 that flooding was a "once-in-a-century event".

"But it's just two years later and we need to be preparing for this kind of event as a normal event going forward," he said, before advocating for a permanent defence solution.

Wharfage closed at Ironbridge - The river has now reached 6.2 m and it’s no longer safe to go behind the flood barriers. The Wharfage is now closed to vehicles and pedestrians. Please stay away from the area and stay safe everyone. More here > https://t.co/ZqfOz1kEqr pic.twitter.com/exXRhp5psi

— Telford & Wrekin Council (@TelfordWrekin) February 22, 2022

Today I visited @EnvAgency teams in Ironbridge dealing with impacts of Storm Dudley, Eunice and Franklin.

Water levels are high on the Severn. My thoughts are with those affected and with colleagues working round the clock over the last several days to protect communities. pic.twitter.com/MCjOB30tbi

— James Bevan (@JamesBevanEA) February 22, 2022

Flood warnings across England

Scores of flood warnings have been issued across England particularly along the River Severn, the Rivern Ouse, the River Trent and the River Wye.

Met Office forecaster Mark Wilson said while there will not be a "huge amount" of rain today, further rainfall in flood-affected areas could "cause recovery to slow down massively".

It comes after three storms battered the UK over the past week - as Dudley, Eunice, and Franklin left 1.4 million households without electricity, some for up to 72 hours, with around 12,000 still without power.

Image: Water levels were up to car windscreens in York

Storm Franklin's highest gust of 87mph was recorded at The Needles on the Isle of Wight on Sunday evening, followed by gusts of 79mph on a mountaintop in Wales early on Monday.

Storm Eunice brought winds of up to 122mph to the UK and Ireland.

The Met Office said in some regions as much as five to six inches of rain had fallen in a "short period of time".

Image: Flood defences along the River Severn in Ironbridge

Meanwhile, Business and Energy Secretary Kwasi Kwarteng said extreme weather, like these storms, could become a feature of the country's climate.

Speaking in the Commons on Monday, he said "four people have tragically lost their lives in incidents related to storms".

Police have named Stephen Matthews, 68, a father of two from Aintree, as the passenger who died after debris struck the windscreen of a vehicle he was travelling in during high winds in Netherton, Merseyside, on Friday.

Adblock test (Why?)

https://news.google.com/__i/rss/rd/articles/CBMihAFodHRwczovL25ld3Muc2t5LmNvbS9zdG9yeS91ay13ZWF0aGVyLXByb3BlcnRpZXMtZmxvb2QtYXMtbWFqb3ItaW5jaWRlbnRzLWRlY2xhcmVkLWluLXRoZS13ZXN0LW1pZGxhbmRzLXdpdGgtZGFuZ2VyLXRvLWxpZmUtMTI1NDg4MTDSAYgBaHR0cHM6Ly9uZXdzLnNreS5jb20vc3RvcnkvYW1wL3VrLXdlYXRoZXItcHJvcGVydGllcy1mbG9vZC1hcy1tYWpvci1pbmNpZGVudHMtZGVjbGFyZWQtaW4tdGhlLXdlc3QtbWlkbGFuZHMtd2l0aC1kYW5nZXItdG8tbGlmZS0xMjU0ODgxMA?oc=5

2022-02-22 16:45:06Z
1286850233