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☆ Starmer is selling Britain on gloom, and patience is wearing thin
▼ + stars: | 2024-09-25 | by ( Rob Picheta | ) edition.cnn.com time to read: +9 min

Protesters demonstrate outside the Labour Party conference venue in Liverpool against the withdrawal of the winter fuel allowance, on September 23, 2024. “It has felt a bit blunt,” a Labour Member of Parliament admitted after Starmer’s speech Tuesday, summing up the sentiment across much of conference. Unfortunately, the realities of governing are beginning to bite the Labour Party – and it is likely he will need to show some returns far sooner. Starmer’s speech was was light on fresh content but a heckler was calmly removed and the key messages were confidently delivered. But a premiership can only survive on doom and gloom for so long, and patience is already wearing thin among much of the wider party.

Persons: Keir Starmer, –, Ian Forsyth, Starmer, Taylor, “, Rachael Maskell, Sir Keir Starmer, Peter Byrne, Maskell, ”, Boris Johnson’s, ” –, Patience, Opinium, Sunak, ” James Crouch ,, Reeves, Rachel Reeves, heckler Organizations: Liverpool, England CNN —, Labour, Protesters, Labour Party, Labour Party –, Conservative, Public, Arsenal soccer, Wembley, CNN, ”, London, Tory, National Health Service, Organisation for Economic Co, Development, United Nations General Assembly Locations: England, Liverpool, Starmer’s, Opinium, Britain, New York, July’s

☆ HSBC executive apologizes after calling the UK 'weak' for following US lead over China
▼ + stars: | 2023-08-08 | by ( Michelle Toh | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —A top executive at HSBC has apologized after reportedly calling the UK government “weak” over its dealings with China, in another sign of the political tightrope the British bank has to walk. He also said the British government would often concur with US demands, calling it “weak,” the publication reported. Several conservative UK lawmakers seized the occasion Monday to criticize Cowper-Coles and HSBC (HSBC). Meanwhile, Hong Kong and mainland China combined made up nearly 40% of profit, according to its most recent financial report. In 2020, HSBC’s top executive in Asia publicly declared support for a controversial national security law that Beijing introduced in Hong Kong, inviting fierce backlash from Western government officials and investors.

Persons: Sherard Cowper, Cowper, Coles, Washington, Britain shouldn’t, —, “, “ Sherard, Tim Loughton, ”, Iain Duncan Smith, Sir Sherard Cowper, Stephen Chung, Noel Quinn Organizations: Hong Kong CNN, HSBC, Bloomberg, CNN, Cowper, China - Britain Business Council, Chatham, Coles, Former Tory, Getty, Hong Locations: Hong Kong, China, Coles, United Kingdom, United States, London, British, Beijing, Israel, Saudi Arabia, Afghanistan, Chatham, Asia, Xinhua, East

☆ Britain’s Tories Expected to Face Election Losses - The New York Times
▼ + stars: | 2023-07-14 | by ( Michelle Goldberg | ) www.nytimes.com time to read: +2 min

A recent poll shows the Labour candidate ahead in Selby and Ainsty, where in 2019 Adams won more than 60 percent of the vote. In Somerton and Frome, the candidate of the centrist Liberal Democrat Party appears to have a strong chance of prevailing. Still, there’s a broad sense that, with national elections due sometime in the next 18 months, the Conservative Party is imploding. Yet in Britain, the right appears to be approaching something like free fall, with a recent poll showing Labour with a 21-point lead nationally. Less than four years ago, the party won its fourth consecutive national election by a staggering margin, leaving Labour, then led by the leftist Jeremy Corbyn, decimated.

Persons: Adams, ”, that’s, Joshua Simons, Emmanuel Macron, Le Pen, Jeremy Corbyn, Reed Organizations: Labour, Liberal Democrat, Conservative, BBC, Conservative Party, Financial, Conservatives, Labour Party, Tories Locations: Selby, Ainsty, Somerton, Frome, Europe, Italy, Spain, Sweden, Finland, Greece, Germany, Britain, Republic

CNN —The British pound fell to a new record all-time low against the US dollar of $1.035 on Monday, plummeting more than 4%. The slide came as trading opened in Asia and Australia on Monday, extending a 2.6% dive from Friday — and spurring predictions the pound could plunge to parity with the US dollar in the coming months. The unprecedented currency slump follows British Chancellor of the Exchequer Kwasi Kwarteng’s announcement on Friday the United Kingdom would impose the biggest tax cuts in 50 years at the same time as boosting spending. Former Tory chancellor Lord Ken Clarke criticized the tax cuts on Sunday, saying it could lead to the collapse of the pound. The previous record low for the British pound against the US dollar was 37 years ago on February 25, 1985, when 1 pound was worth $1.054.

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