Jeremy Hunt has been appointed as Liz Truss’s new chancellor, in a stunning reversal of political fortune and a sign that the beleaguered prime minister wants to reach out to other sections of the Conservative party. Hunt, the former foreign ...
Liz Truss is poised to sack her chancellor Kwasi Kwarteng and announce plans to raise corporation tax as she abandons key parts of her mini-budget in a bid to reassure the markets. The chancellor is due to meet the prime ...
Senior Conservatives are holding talks about replacing Liz Truss with a joint ticket of Rishi Sunak and Penny Mordaunt as part of a “coronation” by MPs. Truss and Kwasi Kwarteng, the chancellor, are expected within days to make a humiliating climbdown over ...
Royal Mail has announced it will begin a process to make 5,000 to 6,000 roles redundant by August next year. The announcement, made in a trading update by the postal service’s parent company, has been blamed on industrial action taken ...
The Bank of England is set to stop its government bond-buying scheme today after attempting to reassure the UK’s financial markets. The Bank launched the unprecedented intervention after the chancellor’s mini-budget caused chaos within the markets, as well as a ...
Kwasi Kwarteng is ending his trip to Washington a day early, flying back to London amid speculation that the government is planning another U-turn on its mini-budget. The chancellor, who was due to meet counterparts today at the International Monetary ...
Lenders expect the availability of mortgages and consumer and corporate credit to shrink as more people and businesses default on loans. Rising interest rates and the worsening economic outlook began to affect the demand for credit and its availability even ...
The sharp rise in borrowing costs since Kwasi Kwarteng’s “mini-budget” means that most of Britain’s warehouses, offices and shopping centres will lose as much as a fifth of their value over the coming two years. The warning came from Goldman ...
Policymakers across Southeast Asia are reaching for both conventional and unconventional instruments available in their toolbox to stem plunging currencies and cool price gains. While the region’s problems are middling compared to some neighbors in the south, countries face their ...
SEOUL — North Korea fired a short-range ballistic missile into the sea off its east coast on Friday, South Korea’s military said, the latest in a series of launches by the nuclear-armed country amid heightened tensions. South Korea also scrambled ...