Rishi Sunak to be Britain’s new prime minister as rivals quit race
Rishi Sunak will be named the U.K.’s new prime minister, following a fast-tracked Conservative Party leadership race initiated to fill the void left by Liz Truss’ resignation.
Financial News
China names Xi Jinping loyalists for core leadership group
In remarks Sunday, Xi emphasized the Party’s leadership in “a new journey to turn China into a modern socialist country,” according to an official translation.
China shuffles leadership committee and retains many Xi allies
But the new list for China’s central committee left off several officials with more market-leaning tendencies.
British pound slides on political uncertainty, reversing Liz Truss resignation bounce
“Overseas investors are likely to see this political volatility as another reason to get out of U.K. assets,” one strategist told CNBC.
UK Prime Minister Liz Truss resigns after failed budget and market turmoil
U.K. Prime Minister Liz Truss resigned following a failed tax-cutting budget that rocked financial markets and which led to a revolt within her own Conservative Party.
UK PM Liz Truss says she’s a ‘fighter not a quitter’ as lawmakers plot to oust her
Truss described her U-turn on tax cuts as “in the national interest to make sure that we have economic stability.”
Liz Truss’ ‘trickle-down economics’ is dead. Now the UK faces an uncertain future
Just six weeks into U.K. Prime Minister Liz Truss’ tenure and the political future of yet another Conservative leader looks to be in jeopardy.
UK Prime Minister Liz Truss faces serious pressure to resign after failed budget
U.K. Prime Minister Liz Truss is facing calls to resign from within her own Conservative Party just six weeks after entering Downing Street.
Xi warns against foreign interference in Taiwan, says China will ‘never promise to renounce’ force
Chinese President Xi Jinping said China reserves the option of “taking all measures necessary” against “interference by outside forces” on the issue of Taiwan.
Jamie Dimon says expect ‘other surprises’ from choppy markets after U.K. pensions nearly imploded
The Federal Reserve’s campaign to tame high inflation here in the U.S. has been felt around the world.