UK gets extra bank holiday to honor King Charles III
12 November 2022 | 7:50 am
The UK's new prime minister Rishi Sunak wants people to "celebrate and pay tribute" to the new king. The holiday will cap a three-day weekend that will begin with the coronation.
UK Prime Minister Liz Truss admits she "could have laid the ground better" for her plan to reduce taxes for the wealthy. Four weeks into the job, she faces scrutiny from her own party over her handling of the scandal.
Recent violence between Hindus and Muslims shocked the UK city of Leicester, which is home to a large South Asian community. Observers say the violence was spread by inflammatory coverage on Indian social media.
Human rights watchdogs from Russia, Ukraine and Belarus were on Friday announced the winners of the 2022 Nobel Peace Prize, with the jury criticising Russian President Vladimir Putin's "authoritarian" regime as he wages war in Ukraine.
Buckingham Palace has set a date — May 6, 2023 — for the coronation of King Charles III. The ceremony will take place at Westminster Abbey in London, almost exactly 70 years after his mother's coronation.
Prime Minister Liz Truss has said Kwarteng had "put the national interest first" by agreeing to her demand that he step aside less than six weeks into the job.
The Bank of England has expanded its emergency purchases of government bonds to calm financial markets riled by a government plan to cut taxes. As a crucial deadline looms, everyone is asking: will it work?
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.
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