Biden marks ‘groundbreaking milestone’ as UK gets first Hindu PM – but calls him ‘Rashid Sanook’ October 25, 2022 President Joe Biden marked the milestone of Britain getting its first Hindu prime minister, but appeared to pronounce his name wrong, as ‘Rashid Sanook’. The 79-year-old congratulated the new resident of Number 10, calling the feat “pretty astounding” during a reception celebration of the Hindu festival Diwali. During his address he called Sunak’s rise to [...]
Ryan Reynolds-owned Wrexham AFC criticises player for boots with ‘f*** the Tories’ on October 25, 2022 One of the oldest football clubs in the world has criticised one of its players for printing football boots with “f*** the Tories” on. Wrexham AFC, which was sensationally bought by US actors Ryan Reynolds and Rob McElhenney, said the boots “will not be worn tonight, or in any other” fixture, after striker Paul Mullin [...]
Sinking fast: Jeremy Hunt to ditch Boris Johnson’s £250m Brexit Britain ship October 25, 2022 A £250m national flagship proposed by former prime minister Boris Johnson while in office will be cancelled by the new chancellor, Jeremy Hunt, according to various news reports. In an upcoming round of deep spending cuts, most likely to be announced next week, Hunt reportedly plans to drop the Ministry of Defence project. So far, [...]
Liz Truss defends tax-cutting agenda as outgoing PM leaves Number 10 October 25, 2022 Liz Truss has said the UK “cannot afford to be a low growth country” and defended her tax-cutting agenda in her final speech outside Number 10. The outgoing Prime Minister said “our country continues to battle through a storm” but that “I believe in Britain, I believe in the British people and I know that [...]
Russian broadcaster suspends presenter over ‘burn and drown’ Ukrainian children remarks October 25, 2022 Russian state broadcaster RT has suspended presenter Anton Krasovsky after he called to burn and drown Ukrainian children. The presenter made his comments on TV causing anger on social media, and leading to an apology. During a discussion with a fiction writer called Sergei Lukyanenko, he said “just drown those children, drown them”. He also [...]
Falling yields take edge off UK borrowing costs but City’s eyes are on Rishi Sunak October 25, 2022 The rebound seen over the course of the last couple of days appears to be being driven by a sharp fall in bond yields, at least in European markets with the sharp drop in UK gilt yields marking the unwind in premium that we saw in the aftermath of the market turmoil post the UK [...]
Happening today: Truss’ last cabinet meeting, Sunak to meet King Charles and form cabinet October 25, 2022 This morning Liz Truss will hold her final cabinet meeting as Prime Minister before Rishi Sunak meets King Charles and starts to form his cabinet. Sunak will become the youngest prime minister in more than 200-years, after being appointed Tory leader yesterday following rival Penny Mordaunt dropping out of the race. The outgoing PM will [...]
Dishy Rishi has a lot on his plate and there’s little time to waste October 25, 2022 Rishi Sunak may not have lots of time on his hands, but one book is perhaps worth reading. In his recent tome Stupid Bankers, Irish author Paul Kilduff makes the case that sometimes – just sometimes – it really can be one individual that changes the course of financial history. Nick Leeson, for instance, crashed [...]
UK borrowing costs fall after Sunak wins race to No 10 October 24, 2022 UK borrowing costs fell sharply today after former chancellor Rishi Sunak seized the keys to Number 10 following leadership contender Penny Mordaunt’s withdrawal. Yields on the 10-year gilt fell around 30 basis points today to below four per cent. Yields and prices move inversely. They had been falling in early morning trading after Boris Johnson [...]
Watch the moment 30 activists invade Parliament’s central lobby in fuel protest October 24, 2022 More than 30 Greenpeace activists invaded the central lobby in Parliament to mark Rishi Sunak’s ascendency to Number 10. The environmental campaigners, joined by Fuel Poverty Action, sat down in the centre of the Palace of Westminster unfurling a banner reading ‘chaos costs lives.’ They called on the prime minister in waiting Rishi Sunak to [...]