LONDON (Reuters) – Rishi Sunak will become Britain’s first prime minister of colour on Tuesday after he won the race to lead the Conservative Party. Following are latest events, comments and context: POLITICS * Sunak, the 42-year-old former finance minister, will become Britain’s third prime minister in less than two months. * Sunak will have …
Rishi Sunak to be UK prime minister: What you need to know Read More »
LONDON (Reuters) -Former British finance minister Rishi Sunak will be Britain’s next prime minister after his rivals quit the race, which analysts said had relieved some of the nervousness around the outlook for the UK economy, boosting domestic markets. The 42-year old will become the country’s third prime minister in less than two months, after …
Rishi Sunak to become Britain’s new PM, UK markets rally Read More »
LONDON (Reuters) – British finance minister Jeremy Hunt said on Monday it was time for “honesty” about the economic challenges facing the country as he congratulated Rishi Sunak on becoming the next prime minister. “This is a time for honesty about the huge economic challenges we face, and courage in addressing them,” Hunt wrote on …
UK finance minister Hunt: ‘Time for honesty’ about economic challenges Read More »
LONDON (Reuters) -Investors are regaining confidence in British economic policymaking and next Monday’s scheduled tax and spending plan announcement will be key to extending the recovery, a top Bank of England (BoE) official said on Monday. Deputy Governor Dave Ramsden, speaking on the day former finance minister Rishi Sunak was chosen as the Conservative Party’s …
Recovery of UK gilts shows credibility coming back: BoE’s Ramsden Read More »
By Sergio Goncalves LISBON (Reuters) – Portugal’s Prime Minister Antonio Costa has urged the European Central Bank (ECB) to be prudent in raising interest rates from abnormally low levels, despite not expecting a dramatic increase in household bad loans in his country. The ECB has been unwinding policy support over the past year and lifted …
Portugal’s PM urges ECB to be prudent in raising interest rates Read More »
By Gus Trompiz and Dominique Vidalon PARIS (Reuters) -French minerals company Imerys unveiled plans on Monday to develop a lithium mine in central France that it said could be a leading contributor in Europe’s quest for electric-vehicle battery materials. Electric cars such as Renault’s Zoe are key to the European Union’s strategy to cut emissions …
French lithium mine project unveiled in electric car race Read More »
By Jonathan Cable LONDON (Reuters) -The euro zone is likely entering a recession with business activity contracting at the fastest pace in nearly two years this month as the cost-of-living crisis keeps consumers cautious and saps demand, a survey showed on Monday. Factories have been particularly hard hit by energy price rises and due to …
Euro zone October PMI adds to evidence bloc is heading for recession Read More »
(Reuters) -Facebook-parent Meta Platforms Inc needs to streamline by cutting jobs and capital expenditure, its shareholder Altimeter Capital Management said on Monday in an open letter to Chief Executive Mark Zuckerberg. The company has lost investor confidence as it ramped up spending and pivoted to the metaverse, the technology-focused hedge fund with a 0.1% stake …
Meta shareholder wants Facebook parent to cut jobs, spending Read More »
(Reuters) – Britain’s Royal Mail and its largest labour union have agreed to engage in talks through the Advisory, Conciliation and Arbitration Service (Acas) to resolve their ongoing dispute over pay, the postal service’s parent company said on Monday. International Distributions Services said the opening session for the talks would take place on Oct. 25. …
Royal Mail, union agree on talks over pay through arbitration Read More »
By Hyunjoo Jin SAN FRANCISCO (Reuters) -South Korea’s Mirae Asset Financial Group is planning to commit about 300 billion Korean won ($208 million) to help finance Elon Musk’s $44-billion buyout of Twitter Inc, a person familiar with the matter told Reuters on Monday. The deal with Mirae is expected to be finalized in the coming …
Mirae Asset in talks to help fund Elon Musk’s Twitter deal – source Read More »
