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

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Communities along the River Severn have been urged to remain wary as water levels begin to subside in some areas.

A danger to life warning remains in Bewdley, Worcestershire, but the one issued for Ironbridge in Shropshire was lifted on Wednesday evening.

The Severn peaked in Worcester earlier but flooding is "increasingly drawn out", the Environment Agency said.

The situation could "get worse before it gets better", Worcestershire County Council warned.

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The peak reached Worcester at around 17:00 GMT but while the situation was "gradually improving", water levels would remain high for a number of days, Ian Jones from the Environment Agency tweeted.

In Bewdley, the Severn overtopped defences at Beales Corner following heavy rain on 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 recent events had been "incredibly frightening" for people in Bewdley, where search and rescue crews have been checking properties after dozens were evacuated.

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

"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 in the town 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 in use until at least 2024.

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In Shrewsbury, where large parts of the town were underwater, residents have also expressed disdain.

Paul Fairhurst and Sarah Jackaman have been flooded about 15 times but said the past three years had been the worst.

"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."

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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 the Worcestershire town 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 they will not reach the historic high of about 5.5m.

Several properties in Worcester have flooded, particularly in the Diglis area.

Sam McCarthy from Worcester Business Improvement District 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 in the early hours of Wednesday morning 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 was opened to help those affected.

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

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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".

Mr Green said although some areas had peaked, river levels would not retreat for some time.

"Any rain that now falls on the Welsh mountains, because the ground's so soggy, will not be soaked 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

  18 hours ago

  

• Hardship fund announced for flood-hit areas

  16 hours ago

  

• In Pictures: Flooding caused by the River Severn

  1 day ago

  

• Major incident declared as flood waters rise

  2 days 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

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2022-02-23 21:21:55Z
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Queen holds weekly telephone audience with PM despite having COVID - Sky News

The Queen has held her weekly telephone audience with the prime minister despite having COVID-19, Buckingham Palace said.

The monarch, 95, has been suffering mild COVID symptoms after testing positive for the virus on Sunday.

A Buckingham Palace spokesman said: "Her Majesty did speak to the prime minister this evening."

On Tuesday, she cancelled her planned virtual engagements.

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The Queen's health over the years

The Queen, who has avoided catching COVID for the best part of two years, has spent much of the pandemic in the safety of Windsor Castle, where there has been a tightly-controlled and limited rota of staff nicknamed "HMS Bubble".

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Celebrations for her Platinum Jubilee of 70 years on the throne - a milestone reached on 6 February - begin in June.

Image: Queen Elizabeth with Prime Minister Boris Johnson. File Pic

Her Majesty, the UK's longest reigning monarch, recently spent more than three months resting on doctors' orders.

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She withdrew from attending the COP26 climate change summit in Glasgow, the Festival of Remembrance and the Remembrance Sunday Cenotaph service in the autumn after suffering a sprained back.

Next week, the Queen is due to host the Diplomatic Reception and meet hundreds of dignitaries at Windsor.

She and Boris Johnson - the 14th prime minister during her reign - hold a weekly audience on Wednesdays following Prime Minister's Questions in the Commons.

The call has largely been by telephone throughout the pandemic.

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2022-02-23 19:42:04Z
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River Severn flooding: Levels remain high as river peaks in Worcester - BBC News

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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.

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

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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.

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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.”

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2022-02-23 04:00:36Z
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