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3 mins read
Business Secretary Kwasi Kwarteng travelled around Saudi Arabia on flights paid by energy giant Aramco
Kwasi Kwarteng was flown around Saudi Arabia in January 2022 by majority state-owned energy firm Ar…
Henry Dyer
2 mins read
UK finance minister Kwasi Kwarteng has been fired as the government waters down tax cuts
Kwarteng's tax cut proposals have rattled British markets for weeks, with yields on gilts soaring.
George Glover
2 mins read
Boris Johnson's advisor on standards cleared cabinet minister for apparent breach of ministerial code, on the grounds that he said sorry
Boris Johnson's independent adviser on ministers' interests declined to investigate Kwasi Kwarteng …
Henry Dyer
1 min read
UK leader Liz Truss is set to oust the finance minister as the country waters down tax cuts, reports say
Kwarteng's tax cut proposals have rattled British markets for weeks, with yields on gilts soaring.
George Glover
1 min read
UK finance minister will meet with Wall Street banks after the newly unveiled mini-budget sparked panic in markets and sent the pound plummeting
UK Chancellor of the Exchequer Kwasi Kwarteng will meet with Bank of America, Citigroup, JPMorgan C…
Carla Mozée
2 mins read
US stocks rally in volatile trading as investors digest bank earnings and a potential UK tax-cut reversal
The S&P 500 may fall for the week that was rounding off with a Friday busy with bank earnings, reta…
Carla Mozée
1 min read
The pound could easily slip below parity with the dollar due to UK's latest tax cuts, former Treasury Secretary Larry Summers says
"It makes me very sorry to say but I think the UK is behaving a bit like an emerging market turning…
George Glover
1 min read
P&O Ferries under criminal and civil investigation after boss admits 'breaking the law', UK minister says
The firm's CEO, Peter Hebblethwaite, told a committee of MPs that P&O Ferries chose "not to consult…
Henry Dyer
2 mins read
The pound slips against the dollar after briefly erasing its selloff losses, as UK emergency talks fail to deliver
The UK currency fell back from gains logged in Asian trading as British leaders resisted pressure t…
Karen Friar
2 mins read
The British pound plunged to an all-time low against the US dollar this week. Here's what happened, and what it means.
The pound's slump prompted the International Monetary Fund to urge the UK government not to cut tax…
Theron Mohamed
2 mins read
The Bank of England needs to hike rates by a super-sized 100 basis points to calm markets shaken by UK tax cuts, Mohamed El-Erian says
"If I were the governor and the chancellor is not modifying his plan, I would increase interest rat…
Zahra Tayeb
2 mins read
The pound jumps to a 6-week high and UK bond yields fall as new Prime Minister Rishi Sunak pledges to 'fix mistakes' by the Truss administration
The pound climbed near $1.15 for the first time since mid-September. Sunak said the UK is facing a …
Carla Mozée
2 mins read
The pound rises after the UK government says it will abandon its plan to cut taxes for the rich
The UK government has made a U-turn on its plan to abolish the 45% top rate of income tax, the BBC …
Karen Friar
2 mins read
Pound steadies after hitting record low as investors weigh the chances of the Bank of England stepping in
In a contradictory message, the UK central bank said it wouldn't hesitate to hike interest rates if…
George Glover,Huileng Tan
2 mins read
The UK's recent market turmoil wasn't caused by the mini-budget, and the chaos was a result of interest rate 'differentials', Britain's business secretary says
The UK's key rate of 2.25% is less than the US fed funds rate and that gap is the source of market …
Carla Mozée
1 min read
The pound is surging against the dollar following reports about a potential U-turn by the UK government on parts of its mini-budget
The pound jumped by nearly 2% following reports Downing Street may U-turn on portions of its contro…
Carla Mozée
1 min read
The pound slips again versus the dollar after brief rally as markets weigh UK prime minister's speech on budget measures
"Cutting taxes is the right thing to do morally and economically," Truss said Wednesday, causing th…
Jennifer Sor
2 mins read
UK PM Liz Truss was forced from office after losing fights with the markets and her own fractured party
Liz Truss became the shortest-serving Prime Minister in UK history after the markets crashed follow…
Bethany Dawson
5 mins read
How power corrupts - lessons from King Lear and three more Shakespearen plays
How power corrupts - lessons from King Lear and three more Shakespearen plays
PTI
2 mins read
6 days ago a British tabloid asked what would last longer, Prime Minister Liz Truss or a wet lettuce. The lettuce won.
On October 14 the Daily Star asked who would last longer — Liz Truss in Number 10 or a wet le…