‘Incredible presence of mind’ – UK’s Johnson praises taxi driver in Liverpool blast

The US president said he disagreed with Liz Truss' now-abandoned plan to fight inflation with tax cuts. The embattled UK leader is now scrambling to present a new budget with the help of her new finance minister.

The British pound rebounded and the UK government's borrowing costs dropped after Chancellor Jeremy Hunt shredded the controversial "mini-budget." But some economists think the country is not out of the woods yet.

Truss answered questions both from the opposition and her own Conservative Party, after she reversed course on her controversial tax-cut plans.

Inflation in the UK has spiked back to its 40-year high of 10.1% as households and businesses continue to struggle with soaring food and energy prices. The data come "despite the Bank of England trying to turn down the heat on this bubbling pot of prices", says Susannah Streeter, Senior Markets Analyst at Hargreaves Lansdown. The figures will add more pressure to the struggling government of Prime Minister Liz Truss.

UK Prime Minister Liz Truss announced her resignation less than seven weeks after taking the position after her failed tax-cutting budget spurred market turmoil and led to a lack of confidence within her party. Truss was appointed prime minister on September 6.

Penny Mordaunt has become the first politician to state her intentions to take over from Liz Truss following her brief tenure as British prime minister. But Rishi Sunak and Boris Johnson are thought to have more support.

Sunak looks set to become next UK PM after Johnson quits race

Sunak looks set to become next UK PM after Johnson quits race

Many Britons choose to live off-grid in boats, camper vans and mobile homes, particularly during the pandemic. Now, they are among the people hit hardest by Britain's cost-of-living crisis, Shafi Musaddique reports.

Rishi Sunak will become Britain's next prime minister after he won the race to lead the Conservative Party, leaving him with the task of steering a deeply divided country through an economic downturn set to leave millions of people poorer.

As Rishi Sunak becomes the UK's first South Asian-origin prime minister, India's leadership is showcasing him as success story for the Indian diaspora.

Suella Braverman has also defended London's treatment of refugees after critics blamed her for the "wretched'' conditions endured by thousands of of newly arrived migrants.