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LONDON (AP) — Voters in two districts in England delivered new blows to beleaguered Prime Minister Rishi Sunak, electing opposition-party lawmakers in seats that Sunak’s Conservatives had held for years. Labour Party candidate Damien Egan won the House of Commons seats of Kingswood in southwest England, and Labour's Gen Kitchen took Wellingborough in the country’s center, results announced Friday showed. The Conservatives won both by large margins at the last national election in 2019 but saw support collapse in Thursday's special elections. The hard-right Reform party — formerly known as the Brexit Party — came third, putting more pressure on the Conservatives. The Conservatives pointed to the low turnout — less than 40% of eligible voters cast ballots — as a sign British electors are not enthusiastic about Labour.

Persons: Rishi Sunak, Damien Egan, Kitchen, —, Brexit Party —, Keir Starmer, Chris Skidmore, Peter Bone, Sunak, Liz Truss, Brexit, Boris Johnson, John Curtice, ” “, ” Organizations: —, Labour Party, Wellingborough, Conservatives, Brexit Party, Labour, Conservative, European Union, University of Strathclyde, BBC Locations: England, Kingswood, Wellingborough

☆ Labour opposition deals another historic blow to UK PM Rishi Sunak with by-election defeats
▼ + stars: | 2024-02-16 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

Winning candidate Gen Kitchen said the result was a "stunning victory for the Labour Party and must send a message from Northamptonshire to Downing Street." LONDON — U.K. Prime Minister Rishi Sunak's ruling Conservative Party suffered another double by-election defeat on Thursday, as the opposition Labour Party's momentum shows no sign of slowing. The double defeat of Thursday was the latest in a string of unfavorable by-election results for the ruling party in what were previously considered safe seats. "I was very pleased last night to see that we were clearly getting Tory switchers, in other words people who hadn't voted for the Labour Party before, coming out last night and voting for the Labour Party in a by-election." The Labour Party maintains a lead of more than 20 points over the Conservatives in all national polling, with a general election due no later than January 2025.

Persons: Kitchen, Peter Bone, —, Rishi Sunak's, Helen Harrison, Gen Kitchen, Chris Skidmore, Damien Egan, Keir Starmer, Tory switchers, hadn't, Boris Johnson, Robert Ford Organizations: Labour, Labour Party, Downing, Conservative, Conservatives, LONDON, Conservative Party, Kettering Leisure Village, Tamworth, Liberal Democrats, BBC, University of Manchester, CNBC Locations: Northamptonshire, Wellingborough , Northamptonshire, KETTERING, England, Wellingborough, Kettering, Kettering , England, Kingswood , South Gloucestershire, North, Kingswood, Mid Bedfordshire, West Midlands, Selby, Ainsty, Somerton, Frome

☆ Conservatives Suffer Setback in Parliamentary Election in Britain
▼ + stars: | 2024-02-15 | by ( Stephen Castle | Mark Landler | ) www.nytimes.com time to read: 1 min

Britain’s governing Conservative Party has lost the first of two parliamentary elections in a new blow to its embattled leader, Prime Minister Rishi Sunak, whose future has been questioned by critics within his fractious political party. The Conservatives were defeated in Kingswood, near Bristol, by 8,675 to 11,176 votes, losing a seat that the party had previously held. Votes were cast Thursday to replace two Conservative lawmakers who had quit Parliament, with the first set of results announced early Friday morning. With a general election expected later this year, the result is likely to compound Mr. Sunak’s difficulties at a time when the British economy is shrinking, interest rates are high, and Britain’s health service seems to be in a state of almost permanent crisis. Opinion polls show his party trailing the opposition Labour Party by double-digit margins.

Persons: Rishi Sunak Organizations: Conservative Party, Conservatives, Labour Party Locations: Kingswood, Bristol, British

☆ CNBC Daily Open: When yields are this high, why buy stocks?
▼ + stars: | 2023-08-23 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

Nathan Howard | Bloomberg | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Typically, stocks — if they do well — tend to return more than a risk-free asset, precisely because it isn't certain stocks will rise. While "the Fed can control short rates," long rates going up can introduce "significant risk" to the economy, such as the recent Fitch downgrade and quantitative tightening. It wasn't a surprise, then, that stock markets fell Tuesday.

Persons: Nathan Howard, yield's, Rupert Thompson, Cash, That's, Bob Pisani, it's, Torsten Slok, Adam Turnquist, Ed Yardeni Organizations: Treasury, Bloomberg, Getty, CNBC, Kingswood Group, Dow Jones Industrial, Nvidia, LPL, Yardeni Locations: Washington , DC

☆ CNBC Daily Open: With such high yields, why buy stocks?
▼ + stars: | 2023-08-23 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +5 min

Nathan Howard | Bloomberg | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. That's called the equity risk premium, a return that's supposed to compensate stock investors for the chance that they might lose money. Another potential issue that could crop up with high Treasury yields is that it could make the Federal Reserve's job tougher. It wasn't a surprise, then, that stock markets fell Tuesday.

Persons: Nathan Howard, Tesla, Anwar Ibrahim, CNBC's Martin Soong, That's, yield's, Rupert Thompson, Cash, Bob Pisani, it's, Torsten Slok, Adam Turnquist, Ed Yardeni Organizations: Treasury, Bloomberg, Getty, CNBC, Nasdaq, Japan's Nikkei, Malaysia, country's, Vehicle Global, Analysts, International Atomic Energy Agency, Kingswood Group, Dow Jones Industrial, Nvidia, LPL, Yardeni Locations: Washington , DC, Asia, Pacific, Shanghai, Malaysia, California, China, Tokyo

☆ Europe stocks higher; Ubisoft rises 6% on restructured Microsoft-Activision deal
▼ + stars: | 2023-08-22 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

LONDON — European stock markets were higher Tuesday after posting cautious gains to start the week. The Stoxx 600 index was 0.68% higher in early trade, with all sectors higher bar oil and gas, which dipped 0.1%. Higher bond yields generally mean lower stock prices. Thompson said bond market moves reflect a pushback on expectations for substantial Federal Reserve rate cuts next year, though opinion remains divided. U.S. stock futures nudged lower after the Nasdaq Composite and the S&P 500 snapped a four-day negative streak.

Persons: Rupert Thompson, CNBC's, Thompson Organizations: Technology, Ubisoft Entertainment, Microsoft, Activision Blizzard, Treasury, Kingswood Group, Nasdaq Locations: Asia, Pacific

☆ European stocks extend recovery as banking fears ebb
▼ + stars: | 2023-03-28 | by ( Sruthi Shankar | ) www.reuters.com time to read: +2 min

The continent-wide STOXX 600 index (.STOXX) climbed 0.4%, extending its rebound after last week's market rout caused by the collapse of Credit Suisse and two mid-sized U.S. lenders. European banks (.SX7P) rose 1.2%, adding to Monday's 1.4% gain. Credit Suisse shares rose 1.7%. The European banks index was on track for its worst monthly showing since March 2020, when financial markets were roiled by pandemic fears. Embracer (EMBRACb.ST) tumbled 13.8% to the bottom of the STOXX 600 after the Swedish gaming group pushed back dates for expected completion of several deals announced last year.

☆ Shares steady, dollar dips as US holiday lifts rates gloom
▼ + stars: | 2023-02-20 | by ( Amanda Cooper | ) www.reuters.com time to read: +5 min

With U.S. markets shut for the Presidents' Day holiday, non-U.S. assets got some respite from the relentless pressure of last week. "Until recently, the market debate was all about soft-landing or hard-landing, recession or no recession. PEAK-A-BOOMoney markets show investors expect U.S. rates to peak at around 5.3% by July, with a quarter-point rate cut possibly materialising by December. The dollar nudged lower against a basket of major currencies, but was noticeably down against so-called commodity currencies, including the Australian dollar , which rose 0.5% and the Canadian dollar , which gained 0.1%. China's offshore yuan rose 0.1% to around 6.865 to the dollar after Beijing kept interest rates steady as expected, having poured liquidity into the banking system in recent days.

☆ We're still positive on UK but it's headed for a deep recession, chief economist says
▼ + stars: | 2022-11-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're still positive on UK but it's headed for a deep recession, chief economist saysThe U.K. is headed for a deeper recession than Europe and the U.S., according to Rupert Thompson, chief economist at investment firm Kingswood.

☆ Credit Suisse's possible First Boston revival may face hurdles
▼ + stars: | 2022-10-26 | by ( Megan Davies | ) www.reuters.com time to read: +4 min

The source said Credit Suisse has been making efforts to reclaim the First Boston brand since retiring it years ago. It was unclear whether Credit Suisse would be happy to co-exist with the other First Boston brands. When contacted by Reuters, FirstBoston.net said via email that it was not affiliated with Credit Suisse and declined comment on whether Credit Suisse had contacted it. Another company with First Boston branding is First Boston Advisors, an investment banking advisory business previously branded as Methuselah Advisors. McShane said that reviving First Boston would probably see Credit Suisse "try and brush over that the brand was abandoned."

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