DIRS.INFO The most relevant business & tech news

☆ Royal London Asset Management's Greetham on how to balance your portfolio after the UK election
▼ + stars: | 2024-07-05 | 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 EmailRoyal London Asset Management's Greetham on how to balance your portfolio after the UK electionTrevor Greetham, head of multi-asset strategy at Royal London Asset Management, weighs in on the macroeconomic impact of the U.K. general election, as the Labour party sweeps into power.

Persons: Trevor Greetham Organizations: Royal London Asset Management, Labour

☆ Meet Victoria Starmer, wife of new British Prime Minister Keir Starmer
▼ + stars: | 2024-07-05 | by ( Lianne Kolirin | ) edition.cnn.com time to read: +3 min

London CNN —The British public has elected a new government, and with that a new family will be moving into 10 Downing Street. So, who is Victoria Starmer, and what do we know about the new occupants of 10 Downing Street? Starmer’s wife, whom he usually refers to as Vic, kept a relatively low profile during the election campaign. Ian Forsyth/Getty ImagesBoth lawyers by training, they married in 2007 – the year before Starmer became Director of Public Prosecutions. Their relationship grew out of an unlikely first meeting at work, as the Labour leader told Piers Morgan in 2021.

Persons: Keir Starmer, Victoria Starmer, Vic, Ian Forsyth, Starmer, Piers Morgan, “, Morgan, ” Starmer, Victoria, ”, Emperor Naruhito, Masako, Aaron Chown, ITV’s Organizations: London CNN, British, Downing, Labour Party, Getty, Public Prosecutions, Labour, Guardian Locations: United States, Victoria, “, Israel, Japan, Buckingham Palace, London, British, Kentish Town

☆ John Oliver was right — the Conservative Party just faced an epic wipeout at the polls
▼ + stars: | 2024-07-05 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Read previewIt's not quite the "extinction-level event for the Tories" that John Oliver predicted, but the Conservative Party did suffer a bitter defeat in Thursday's UK general election. This story is available exclusively to Business Insider subscribers. At the July 4 polls, the Conservative Party suffered a massive defeat at the hands of its rivals, Labour. UK Prime Minister and Conservative Party leader Sunak conceded defeat to Labour leader Kier Starmer early Friday morning. Representatives for Oliver did not immediately respond to a request for comment from Business Insider sent outside regular business hours.

Persons: —, John Oliver, Oliver, that's, Brexit, David Cameron, Theresa May, Boris Johnson, Liz Truss, Rishi Sunak, weirdos, Conservatives who've, Sunak, Kier Starmer Organizations: Service, Conservative Party, Thursday's, Business, Tories, Conservative, Conservatives, Labour, Prime, Business Insider Locations: Britain

☆ Britain's Labour pulled off a thumping election victory with just 34% of the national vote
▼ + stars: | 2024-07-05 | by ( Vicky Mckeever | ) www.cnbc.com time to read: +2 min

Toby Melville | ReutersLONDON — The U.K.'s Labour Party won a huge parliamentary majority in the country's general election, but a quirk of the British electoral system means it did so with just 34% of the total votes cast. Results show that the opposition Labour Party has won 412 parliamentary seats of the total 650, with just two seats yet to be declared. This translates as roughly 63% of the total seats, but Labour has won just 34% of the total "popular" vote, while the Conservative Party has secured nearly 24% of that number. Meanwhile, smaller parties including the centrist Liberal Democrats, right-wing Reform U.K. and the Greens took nearly 43% of the popular vote but gained just less than 18% of the seats available. Unlike in other voting systems, there are no second rounds or ranking of first- and second-choice candidates, meaning it can be difficult for smaller parties to translate an increased share of the popular vote into parliamentary seats.

Persons: Keir Starmer, Victoria Starmer, Toby Melville, Gabriella Dickens, Dickens Organizations: British, Labour, Reuters LONDON, Labour Party, Conservative Party, Liberal Democrats, Greens, U.K, AXA Investment, Scottish National Party Locations: London, Britain

☆ Former MI6 Chief on foreign policy under the Labour Party
▼ + stars: | 2024-07-05 | 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 EmailFormer MI6 Chief on foreign policy under the Labour PartySir Richard Dearlove, former chief of MI6, sets out his foreign policy and national security expectations for the new Labour government in the U.K.

Persons: Labour Party Sir Richard Dearlove Organizations: Former, Labour Party, Labour

☆ Liz Truss Caps List of High-Profile Conservative Seat Losses
▼ + stars: | 2024-07-05 | by ( Eshe Nelson | More About Eshe Nelson | ) www.nytimes.com time to read: +1 min

Liz Truss, the former Conservative Party prime minister, lost her seat Friday morning. Five years ago, she won a majority of more than 26,000. This time, she lost by 630 votes, a huge swing in support to the Labour Party. She told the BBC that the reason the Conservatives lost was because “we haven’t delivered sufficiently on the policies people want,” such as keeping taxes low and reducing immigration. “During our 14 years in power, unfortunately, we did not do enough to take on the legacy we’d been left,” she said.

Persons: Liz Truss, we’d, ” Organizations: Conservative Party, Labour Party, BBC

☆ UK's Labour could announce tax changes 'quicker than expected': Teneo
▼ + stars: | 2024-07-05 | 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 EmailUK's Labour could announce tax changes 'quicker than expected': TeneoCarsten Nickel of Teneo says a fragmented opposition could allow a new Labour government to deliver more tax announcements ahead of the U.K. budget in October.

Persons: Carsten Nickel, Teneo Organizations: Labour

☆ Labour does not have much headroom in terms of fiscal changes, economist says
▼ + stars: | 2024-07-05 | 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 EmailLabour does not have much headroom in terms of fiscal changes, economist saysJari Stehn, chief European economist at Goldman Sachs, discusses the economic and fiscal landscape in the U.K. as Labour wins the 2024 general election.

Persons: Jari Stehn, Goldman Sachs Organizations: Labour

The final votes in Britain's parliamentary elections are still being counted, but one thing is crystal clear: After 14 years in power, the Conservative Party is out. More than that: It’s been thoroughly punished by the British public, reduced to barely 120 seats, the party’s worst result in it’s history. Several prominent figures — including former Prime Minister Liz Truss — lost their seats. While other European countries are experiencing a rise in right-wing populism, Britain has rallied behind the centrist and sensible Labour Party and its centrist and sensible leader, Keir Starmer, who becomes prime minister.

Persons: It’s, Liz Truss —, Keir Starmer Organizations: Conservative Party, Labour Party Locations: Britain

☆ UK's Starmer appoints Reeves and Rayner to top ministerial team
▼ + stars: | 2024-07-05 | by ( ) www.cnbc.com time to read: +1 min

Britain's new Prime Minister Keir Starmer began appointing his ministerial team on Friday following a thumping election victory for his Labour Party, naming Rachel Reeves as the country's first female finance minister and Angela Rayner as deputy PM. Starmer appointed David Lammy as Britain's new foreign minister and as John Healey the defence minister, while Yvette Cooper becomes interior minister, known as home secretary, overseeing domestic security and policing. Starmer has pledged to help rebuild Britain and provide political stability after 14 years of Conservative government that has seen five prime ministers and an even higher turnover of other key ministers, including 10 education secretaries. The appointments of his most senior team were widely expected, with ministers being named to the policy briefs they held while serving in opposition. Rayner will also serve as secretary for levelling up, housing and communities.

Persons: Keir Starmer, Rachel Reeves, Angela Rayner, Starmer, David Lammy, John Healey, Yvette Cooper, Healey, Rayner Organizations: Labour Party, Lammy, Ukraine, Conservative Locations: Russia, Gaza, Britain

☆ House building sector to see most positive impact from Labour government, researcher says
▼ + stars: | 2024-07-05 | 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 EmailHouse building sector to see most positive impact from Labour government, researcher saysMark Fielding, head of European capital goods research at RBC Capital Markets, weighs in on the impact that the newly elected Labour government could have on stock markets.

Persons: Mark Fielding Organizations: Labour, RBC Capital Markets

☆ Tory legacy has left the new Labour government with very little fiscal freedom, strategist says
▼ + stars: | 2024-07-05 | 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 EmailTory legacy has left the new Labour government with very little fiscal freedom, strategist saysBhanu Baweja, chief strategist at the UBS Investment Bank, weighs in on the impact of the Labour Party's landslide win in the U.K.

Persons: Bhanu Baweja Organizations: Labour, UBS Investment Bank, Labour Party's

☆ Can the Labour Party Bring Back Britain’s Green Groove?
▼ + stars: | 2024-07-05 | by ( Somini Sengupta | ) www.nytimes.com time to read: +1 min

Britain, the birthplace of the Industrial Revolution, erstwhile coal-burning imperial behemoth, wants to be a “clean energy superpower.”At least that’s the promise of the man poised to be the next prime minister, Keir Starmer. His Labour Party was projected to win the parliamentary elections on Thursday, ending 14 years of Conservative Party rule. Labour made big campaign promises on climate. It’s where the Industrial Revolution began in the 18th century, giving rise to a global economy driven by coal, oil and gas and with it, the emissions of planet-heating greenhouse gases. So the speed and scale of Britain’s energy transition is likely to be closely watched by other industrialized countries and emerging economies alike.

Persons: Keir Starmer Organizations: Labour Party, Conservative Party, Labour, Industrial Locations: Britain, It’s

☆ Who Is Rachel Reeves, the Woman Taking the Helm of Britain’s Economy?
▼ + stars: | 2024-07-05 | by ( Eshe Nelson | More About Eshe Nelson | ) www.nytimes.com time to read: +1 min

Rachel Reeves became Britain’s first female chancellor of the Exchequer on Friday, taking on one of the country’s four great offices of state, with responsibility for managing Britain’s budget. After a decade and a half of economic stagnation, Ms. Reeves, a Labour lawmaker with a reputation as a serious and steady manager, faces the tough jobs of boosting Britain’s productivity growth, a key measure of prosperity, and of reviving struggling public services. “I know the scale of the challenge that I’m likely to inherit,” Ms. Reeves told the BBC early Friday. “There’s not a huge amount of money there,” she said, adding that the party needed to unlock private investment. Ms. Reeves is expected to approach her new role with deliberation.

Persons: Rachel Reeves, Britain’s, Reeves, ” Ms, “ There’s, ”, ” Carys Roberts Organizations: Labour, BBC, Institute for Public Policy Research

☆ Goldman Sachs upgrades UK growth forecast after huge Labour election win
▼ + stars: | 2024-07-05 | by ( Vicky Mckeever | ) www.cnbc.com time to read: 1 min

LONDON — Goldman Sachs on Friday upgraded its growth forecast for the U.K. after the Labour Party's thumping victory in the country's general election. The investment bank said in a note released early Friday morning that it expected Labour's fiscal policy agenda to provide a "modest boost to demand growth in the near-term" and raised its gross domestic product (GDP) forecasts for the U.K. by 0.1 percentage points in 2025 and 2026 to 1.6% and 1.5% respectively. "Reforms to the planning system could boost housebuilding and productivity; higher public sector investment could lift potential output; and closer trade ties with the EU could mitigate some of the costs of Brexit," Goldman Sachs economists said in the note.

Persons: Goldman Sachs Organizations: LONDON, Labour

☆ Key housing focus for UK's Labour Party will be on supply side, Investec analyst says
▼ + stars: | 2024-07-05 | 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 EmailKey housing focus for UK's Labour Party will be on supply side, Investec analyst saysAynsley Lammin, equity analyst at Investec, says the U.K. Labour Party's plan to restore mandatory housebuilding targets is a "quick win" for the sector that should boost planning and supply.

Persons: Aynsley Organizations: UK's Labour Party, Labour

☆ Five Takeaways From the U.K. General Election
▼ + stars: | 2024-07-05 | by ( Stephen Castle | ) www.nytimes.com time to read: +1 min

A landslide victory for Britain’s center-left Labour Party is a seismic moment in the country’s politics, returning to power a party that just five years ago suffered its most crushing defeat since the 1930s. Keir Starmer, the Labour leader, becomes prime minister with a majority of about 170 seats, almost as large as the majority Tony Blair achieved in 1997. A new populist, anti-immigration party, Reform, burst onto the scene, winning a significant vote share though only a handful of seats. Labour is backA party that was crushed in the 2019 general election is not just back in power but is also now the dominant force in British politics. Mr. Starmer has purged the hard left from his party and shifted Labour to the center ground, and he ran the election campaign on a simple message: “Change.”

Persons: Keir Starmer, Tony Blair, Starmer Organizations: Labour Party, Labour, Conservative Party, Liberal Democrats

☆ UK Labour Party's Rachel Reeves has 'orthodox' approach to fiscal policy, former BOE governor says
▼ + stars: | 2024-07-05 | 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 EmailUK Labour Party's Rachel Reeves has 'orthodox' approach to fiscal policy, former BOE governor saysJohn Gieve, former deputy governor of the Bank of England, weighs in on which fiscal measures he's anticipating from Rachel Reeves, who's expected to become Britain's first-ever female finance minister in Keir Starmer's incoming Labour government.

Persons: Rachel Reeves, BOE, John Gieve, who's, Britain's, Keir Starmer's Organizations: Labour, Bank of England

People celebrate exit poll results at a "Stop The Tories" election afterparty in London, on July 4. Suzanne Plunkett/ReutersThe United Kingdom’s decision to hand the center-left Labour Party a parliamentary majority, according to the exit poll, comes at the same time Europe is broadly in the grip of what some call a right-wing populist surge. Last month’s European elections saw a historic number of lawmakers from hard-right and far-right parties elected to the European Parliament. Farage’s political success to date has all come without him holding a parliamentary seat. An odd quirk of British politics is that the percentage of votes a party gets doesn’t necessarily translate to seats.

Persons: Suzanne Plunkett, Emmanuel Macron, Benito Mussolini, Euroskepticism, Nigel Farage, Donald Trump, Keir Starmer, Starmer’s, Farage, Starmer Organizations: United, Labour Party, Parliament, European, Conservative Party, Reform, Conservatives, Labour Locations: London, Europe, Netherlands, Italy, Britain, British

People celebrate exit poll results at a "Stop The Tories" election afterparty in London, on July 4. Last month’s European elections saw a historic number of lawmakers from hard-right and far-right parties elected to the European Parliament. Farage’s political success to date has all come without him holding a parliamentary seat. It is possible that Farage’s splitting of the right has actually helped Starmer increase his majority in parliament. An odd quirk of British politics is that the percentage of votes a party gets doesn’t necessarily translate to seats.

☆ The UK is expecting to get a new prime minister — one that Obama has been mentoring for months
▼ + stars: | 2024-07-04 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +9 min

AdvertisementKitty Donaldson, a political journalist in the UK, told Business Insider that this interview marked a turning point in Starmer's public display of emotion. Obama could advise Starmer on how to deal with TrumpObama's and Starmer's relationship is likely to continue if Starmer wins the election on Thursday. Speaking to Politico's Power Play Podcast in September, Starmer said Obama was the US president that he spoke to "most frequently." Packer said Obama and Starmer's relationship made sense, given the decadeslong ties between the UK's Labour Party and the US Democratic Party. Meanwhile, Donaldson suggested Starmer may seek advice from Obama on dealing with Donald Trump, if the former president is reelected in November.

Persons: —, Keir Starmer, Starmer, Jill Rutter, He's, Rishi Sunak, Goldman Sachs, Akshata Murty, Narayana Murty, Barack Obama, Obama, David Lammy, Lammy, Keir, Kitty Donaldson, Donaldson, it's, Tom Packer, Packer, Donald Trump, Trump, Biden, Andrew Harnik, Stormy Daniels, … Organizations: Service, leftwing Labour Party, Conservative Party, Business, New York Times, UK's, Labour, Infosys, Sunday Times, Politico, Black, Harvard University, Sunak, Telegraph, Minas Panagiotakis, Sky News, University College London, Trump, Guardian, UK's Labour Party, US Democratic Party, BBC Radio Locations: Britain, London, England, Wales, Minas, Europe

☆ European markets head for higher open as UK election takes place
▼ + stars: | 2024-07-04 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

The Houses of Parliament are seen on June 28, 2024 in London, England ahead of the UK general election. LONDON — European stocks are expected to open higher Thursday, with the U.K.'s general election in focus in the region. The U.K. general election is being held Thursday. Polls open from 7a.m. Overnight, Asia-Pacific markets were mostly up Thursday as Japan's Topix crossed its all-time high of 2,886.50, previously set in December 1989.

Persons: Germany's DAX, Japan's Topix Organizations: LONDON, CAC, IG, Labour Party, Conservative Party Locations: London, England, Asia, Pacific

Keir Starmer is all but certain to become the next prime minister of Britain, after an exit poll projected that his Labour Party would win the general election in a landslide on Thursday. That would mean Mr. Starmer would replace Prime Minister Rishi Sunak, who took office less than two years ago. Mr. Starmer, a 61-year-old former human rights lawyer, has led a remarkable turnaround for the Labour Party, which just a few years ago suffered its worst election defeat since the 1930s. He has pulled the party to the political center while capitalizing on the failings of three Conservative prime ministers. “He’s not going to set hearts racing, but he does look relatively prime-ministerial.”

Persons: Keir Starmer, Starmer, Rishi Sunak, “, ” Jill Rutter, “ He’s, ” Organizations: Labour Party, Labour, of, Conservative, New York Times Locations: London

It could be a disastrous night for the Conservatives, with the exit poll predicting the lowest-ever total number of seats in the party’s history. Because of its electoral system, Britain can see large discrepancies between the share of seats won by a party and its share of the popular vote. The exit poll suggests one of the largest swings in British political history, with Labour expected to win 410 seats and the Conservatives on 131. Britain’s traditional third party, the Liberal Democrats, also enjoyed a huge bump, going from just 11 seats won at the 2019 general election to a projected 61. Reform UK, a right-wing populist party, was projected to win 13 seats, also a lot more than many polls had suggested.

Persons: resoundingly, Labour’s, Keir Starmer, Britain’s Organizations: London CNN, Labour Party, Conservatives, Labour, Liberal Democrats, Reform, Scottish National Party Locations: United Kingdom, England, Scotland, Wales, Northern Ireland, Britain

Labour leader Sir Keir Starmer talks at a campaign event on June 29, 2024 in London, England. LONDON — The U.K.'s opposition Labour Party is on course to win a commanding parliamentary majority in the country's general election, unseating the incumbent Conservatives after 14 years, according to exit polls released after voting closed. Millions of people across England, Scotland, Wales and Northern Ireland voted for their local representatives in the 650-member House of Commons, the U.K.'s lower house of parliament. A nationwide result will likely be declared early Friday, with Keir Starmer, leader of center-left Labour, expected to become the country's next prime minster. Political surveys have for nearly two years pointed to a large Labour victory.

Persons: Sir Keir Starmer, Keir Starmer Organizations: Labour Party, Northern Ireland, of, Labour Locations: London, England, Scotland, Wales, Northern

Search resuls for: "LABOUR"

25 mentions found