Why is the pound sinking? The worst performance, among major currencies, is against the dollar — which is especially bad news, because so many commodities (notably oil) are traded in US dollars.
In the fight for the ruling Conservative Party leadership, Prime Minister Liz Truss showed no doubts that she will implement tax cuts to help businesses to come out of the two-year Covid-19 economic breakdown by promising tax cuts across the board, and to help people overcome the “crisis of cost of living” like mounting power bills through
In her short valedictory speech after less than 50 days as prime minister, an unrepentant Liz Truss could not bring herself to say sorry for her mistakes. She reiterated her belief in her bold pro-growth strategy. Her legacy will not be what she said outside 10 Downing Street – lower national insurance bills and help with energy costs,
Britain, at the time of writing, still has a prime minister, Liz Truss. Therese Coffey is still deputy prime minister. But the country also has a new de facto prime minister, Jeremy Hunt,
Ratings agency Moody’s on Friday lowered the United Kingdom’s outlook to “negative” from “stable” over ongoing political turmoil, weaker growth prospects and high inflation.
Truss is set to face hostile questions from Tory as well as opposition MPs in a likely febrile House of Commons, less than 48 hours after new finance minister Jeremy Hunt dismembered her flagship tax plans.
British Conservative lawmaker Sheryll Murray said on Thursday she had submitted a letter of no-confidence in Prime Minister Liz Truss.
Liz Truss said on Thursday she was resigning as British prime minister just six weeks after she was appointed, brought down by an economic programme that sent shockwaves through financial markets last month and divided her Conservative Party.
The London stock market and the pound bounced on Thursday after British Prime Minister Liz Truss announced her resignation following disastrous policies that rocked the markets for weeks.