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New PM Rishi Sunak pledges to lead Britain out of economic crisis

Sunak meets King Charles on Tuesday morning Vows to rebuild trust in the country Expected to start forming a cabinet Sunak faces a huge challenge to rebuild stability LONDON, Oct 25 (Reuters) – Rishi Sunak became Britain’s third prime minister in two months on Tuesday and pledged to lead the country out of a profound …

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Boris Johnson, Rishi Sunak lead race to be UK’s next prime minister

No candidates have yet declared their intention to run Doubts Johnson can reach the target of 100 lawmaker nominations Sunak is the bookmakers’ favorite The winner would be the fifth British PM in six years LONDON, Oct 21 (Reuters) – Boris Johnson and his former finance minister Rishi Sunak were leading the potential contenders to …

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UK finance minister Hunt vows to win back financial market trust

PM Truss remains under intense political pressure Government must account for every penny, says new finmin Promises to make “difficult decisions” on spending, tax LONDON, Oct 16 (Reuters) – New finance minister Jeremy Hunt promised to win back Britain’s economic credibility by fully accounting for the government’s tax and spending plans, while insisting his boss …

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As UK’s Truss fights for her job, the new finance minister warns of tough decisions

PM Truss sacked finance minister on Friday New chancellor Hunt warns of tough decisions Ruling Conservatives have slumped in polls Some Conservative lawmakers say Truss will be ousted LONDON, Oct 15 (Reuters) – Britain’s new finance minister Jeremy Hunt said on Saturday some taxes would go up and tough spending decisions were needed, signaling further …

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Bank of England ‘will not hesitate’ to act as it monitors market turmoil

The pound briefly touched a record low against the dollar Five-year gilts match Friday’s record daily slump Yields on 2-year and 5-year debt up 100 bps in 2 days Finance minister to detail fiscal plans on Nov. 23 BoE monitoring developments ‘very closely’ LONDON, Sept 26 (Reuters) – The Bank of England said on Monday …

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Central banks raise rates again as Fed drives global inflation fight

Rates raised from Britain to Indonesia after the Fed moved Investors price in bigger hikes from ECB Japan steps in as yen plummets Emerging market currencies under pressure FRANKFURT/WASHINGTON, Sept 22 (Reuters) – Global central banks continued raising interest rates on Thursday, following the US Federal Reserve in a fight against inflation that is sending …

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Europe races to prepare for energy crunch this winter

Spain may shut energy-intensive industries at peak times France prepares to send gas to Germany in October Germany to sign LNG contracts in UAE Berlin still working on Uniper bailout BERLIN/LISBON, Sept 19 (Reuters) – Germany was pressing on Monday to secure liquefied natural gas contracts with Gulf producers and other European states outlined measures …

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