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Keir Starmer, leader of the Labour Party, campaigns ahead of the general election, in Redditch, UK, on Wednesday, July 3, 2024. Bloomberg | Bloomberg | Getty ImagesLONDON — The U.K. heads to the ballot box on Thursday, as the incumbent Conservative Party seeks to defy months of polls that suggest it will suffer a historic defeat at the hands of the center-left Labour Party. Prime Minister Rishi Sunak announced the vote six weeks ago, taking politicians and the public alike by surprise. The Thursday ballot is the first U.K. general election since 2019, when then-Conservative leader Boris Johnson clinched the party's biggest majority win since 1987 over Jeremy Corbyn's Labour. Rishi Sunak, UK prime minister, campaigns at a Conservative Party general election campaign event at the National Army Museum in London, UK, on Tuesday, July 2, 2024.
Persons: Keir Starmer, Rishi Sunak, Nigel Farage's, Hannah Bunting, Labour's Tony Blair, John Major, Jeremy Hunt, Sunak, Boris Johnson, Jeremy Corbyn's Labour, Liz Truss Organizations: Labour Party, Bloomberg, Getty, Conservative, Labour Party ., of, Liberal Democrats, Greens, Scottish National Party, Plaid Cymru, Democratic Unionist Party, Nigel Farage's Reform, Conservatives, Labour, Convention, University of Exeter, European Union, Conservative Party, National Army Museum Locations: Redditch, UK, England, Scotland, Wales, Northern Ireland, London
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
Last month’s European elections saw a historic number of lawmakers from hard-right and far-right parties elected to the European Parliament. Italy is led by the most right-wing leader since the rule of fascist wartime leader Benito Mussolini. Reform UK party leader Nigel Farage speaks to the crowd of supporters on July 3 in Clacton-on-Sea, England. 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.
Persons: Emmanuel Macron, Benito Mussolini, Euroskepticism, Nigel Farage, Dan Kitwood, Donald Trump, Keir Starmer, Starmer’s, Farage, Starmer Organizations: CNN, Labour Party, Parliament, European, Conservative Party, Reform, Conservatives, Labour Locations: Europe, Netherlands, Italy, Britain, British, Clacton, England
It would mark the second-highest pre-election performance since 1992, trailing only the 12.6% surge seen before the 1997 election, according to RBC's Fielding. "Overall, should a similar pattern to the 1997 election emerge in the future, the forward 1, 3, and 6-month periods could be notably strong." Genuit , Howden , and Travis Perkins were highlighted in the Building Materials sector, while Taylor Wimpey and Vistry were flagged in the homebuilders category. The bank specifically highlighted Barratt , Persimmon , and Taylor Wimpey as companies likely to benefit from these reforms. "Barratt and Taylor Wimpey remain our preferred Buy-rated names given the opportunities arising from potential planning reforms and relatively undemanding valuations."
Persons: Mark Fielding, RBC's Fielding, Fielding, Genuit, Travis Perkins, Taylor Wimpey, Ami Galla, Galla, , Labour —, Barratt, Persimmon, " Barratt, AJ Bell Organizations: RBC Capital Markets, Conservative, Labour, RBC, FTSE, FTMC, Materials, AFC Energy, ITM Power, boohoo Locations: Howden, Germany, St, James's, London, Berkeley
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Fertility rates across OECD countries have halved since 1960, according to a new OECD report. He said the three countries are disproportionately impacted by a rapidly aging population, largely due to improved standards of living, which have a "very strong inverse relationship with fertility rates." These improved conditions have led to a greater opportunity cost for having children, Xu said. Shrinking workforceA decline in fertility rate puts pressure on the economy and the society at large as the working population shrinks. China's policy shiftsIn China, policymakers have been putting a big emphasis on "productivity growth," Xu told CNBC.
Persons: Leren Lu, Darren Tay, Erica Tay, Tianchen Xu, Xu, BMI's Tay, Tay, Maybank's Tay Organizations: OECD, BMI, Risk, United Nations, Economist Intelligence, Economic Co, National Bureau of Statistics, CNBC, Economist Intelligence Unit Locations: China, Asia, South Korea, Japan, East, Southeast Asia, Maybank
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Though some say right-wing movements are on the rise globally, in this year's elections, that's not universally the case. Andy Soloman/UCG/Universal Images Group via Getty ImagesIn short, voters are just fed up — no matter who's in charge. Voters want a chanceGlobally, it's not hard to see an anti-establishment, anti-incumbency trend playing out. So-called "double haters" — voters who dislike both Trump and Biden — have made up an influential chunk of the electorate in recent polls.
Persons: , that's, Brian Greenhill, Rishi Sunak's, Andy Soloman, Greenhill, Keir Starmer, Rishi, Emmanuel Macron's, Narendra Modi's, Yoon Suk, Joe Biden, Donald Trump, de, Richard Wike, Sweden —, Wike, Mike Kemp, there's, Biden —, Biden, it's Organizations: Service, Business, SUNY, Environmental, Getty, Voters, Labour, Conservative Party, Reuters, African National Congress, NPR, de Maismont, Pew's, Research, Pew Research, Trump Locations: India, France, SUNY Albany, South Korea, , United States, AFP, Canada, Germany, Greece, Italy, Japan, Netherlands, Spain, Sweden, America
Labour leader Keir Starmer visits Burton and South Derbyshire College on June 27, 2024 in Burton upon Trent, United Kingdom. Cameron Smith | Getty Images News | Getty ImagesLONDON — Britain looks likely to elect its first Labour prime minister in 14 years, with an expected landslide victory for the opposition party during the July 4 elections. CNBC takes a look at the U.K.'s new prime minister and his platform. watch nowStarmer also served as a human rights adviser during former Labour Prime Minister Tony Blair's landmark Northern Ireland Good Friday Agreement. Labour leader Keir Starmer gives a speech as he visits the Vale Inn on June 27, 2024 in Macclesfield, United Kingdom.
Persons: Keir Starmer, Cameron Smith, Rishi Sunak, Starmer, , Margaret Thatcher's, Tony Blair's, Jeremy Corbyn, Reform's Nigel Farage Organizations: South Derbyshire College, Getty, Labour, CNBC, British, National Health Service, University of Leeds, University of Oxford, Shell, Conservative, Northern, Service, Wealth Fund Locations: Burton, Burton upon Trent, United Kingdom, Britain, London, England, Victoria, Macclesfield
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
Here are a handful of them:1) CampaignsBy the time a presidential election takes place in the United States, the electorate will have already endured months of seemingly endless electioneering — with the entire election campaign process from candidacies and the campaign trail to the actual presidential election and inauguration taking up to two years. In the U.K., the time frame between a prime minister calling a general election to the actual vote is just six weeks. It sounds simple, and usually is, unless there's a "hung parliament" in which no political party wins a majority of seats. In the U.K., political advertising on TV and radio is not allowed, so U.K. voters are subjected to the somewhat quaint "party political broadcasts" during election campaigns. 6) 'Absurd' diversionsBritish political experts note that, unlike in the U.S., where broad political debates tend to remain the key focus, U.K. election campaigns can see more minor or fringe issues dominate the short election campaign.
Persons: Rishi Sunak, Joe Biden, Paul Ellis, Sir Keir Starmer, Stefan Rousseau, Bobby Duffy, Donald Trump, Tom Brenner, , Britain's, Tony Blair, Alastair Campbell, Ben Curtis, Blair, Dan Stevens, Joe Biden's, Trump, Brian Snyder, Keir Starmer, Institute's Duffy, Duffy, Biden, Rodin Eckenroth, Rodin, John Curtice, it's, Ludovic Marin Organizations: Britain's, North Atlantic Council, NATO, South Derbyshire College, Trent, Commons, King's College London, CNBC, Brit, Republicans, U.S, Federal, Former U.S, Republican, Reuters, Electoral Commission, Inverness Royal Academy, Labour, of, Exeter University, Trump . Democratic Party, Reuters Incumbent British, Labour Party, Trump, European, Conservative Party, U.K, UK Ministry of Defence, Royal British, Afp, Getty Locations: Vilnius, Lithuania, United States, Burton, U.S, Britain, Philadelphia, Great Britain, England, Wales, Scotland, British, America, Western Europe, Atlanta , Georgia, Hollywood , California, European Union, Normandy, Ver, Gold, France
In pictures: Labour Party leader Keir Starmer
  + stars: | 2024-07-04 | by ( ) edition.cnn.com   time to read: +1 min
The center-left Labour Party will win Britain's general election by a landslide, according to a major exit poll, ending a 14-year era of Conservative rule in decisive fashion and putting its leader Keir Starmer on course to become prime minister. Starmer, 61, has promised to be the agent of change that Britain needs. He has pledged to grow the country's economy by reforming planning laws and investing in a new industrial strategy. He has said he will set up a national wealth fund with £7.3 billion ($9.2 billion) of public money that will help pay for the transition to net zero emissions. Critics on the right say that Starmer will need to raise taxes to fund his plans, while skeptics on the left say his manifesto is not bold or ambitious enough to change Britain for the better.
Persons: Keir Starmer, Starmer Organizations: Labour Party, Crown, Service of, Wales —, Labour Locations: Service of England
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAnalyst discusses the impact of the UK and French elections on the sterling and euroMahjabeen Zaman of ANZ says a Labour Party victory in the U.K. elections would have little short-term impact on the pound sterling.
Organizations: ANZ, Labour Party
Jeremy Corbyn, an independent candidate running for Parliament, won his seat against a candidate from the Labour party, which he once led. It was a vindication for Mr. Corbyn, who was running for the first time against the party he led from 2015 to 2020. Mr. Corbyn, who has held the seat since 1983, was suspended as Labour leader and eventually purged by the party over his response to allegations of antisemitism during his tenure.
Persons: Jeremy Corbyn, Corbyn Organizations: Parliament, Labour
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLabour expected to win huge majority: 'This is going to be seismic'CNBC's Arabile Gumede reacts to the U.K. election exit polls which indicate that Labour is set to gain a huge majority amid a significant Conservative loss.
Persons: Gumede Organizations: Labour, Conservative
London CNN —The Labour Party’s projected victory in the UK general election marks a historic moment in modern British political history and a huge personal triumph for Keir Starmer, the Labour leader who is set to become the country’s next prime minister. Starmer’s victory is all the more remarkable considering the journey that Labour has been on since the last general election in 2019. It was in this context that Starmer took control of a broken Labour Party on April 4, 2020. On that day, David Lammy, one of his Labour colleagues, took him to one side and warned Starmer: “Set yourself a 10-year cycle. There has for months been a working assumption that a Starmer victory would be in part thanks to a general disdain for the Conservatives after 14 years in power.
Persons: Keir Starmer, Jeremy Corbyn, Boris Johnson, Johnson, David Lammy, Starmer, , Lammy, , Liz Truss, Rishi Sunak, Critics, Donald Trump, Nigel Farage Organizations: London CNN, Labour, , Conservatives, Labour Party, Downing Street, Conservative Party, spook Conservative, Reform
Polls have predicted that the election could be a major turning point, with the center-left Labour Party expected to unseat the right-wing Conservative Party, possibly with a crushing landslide. Credit... Andrew Testa for The New York TimesImage Portsmouth town center. Credit... Andrew Testa for The New York TimesImage England flags and election posters for the Reform U.K. candidate on Kingston Road, Portsmouth. Credit... Andrew Testa for The New York TimesSome formerly stalwart Conservative supporters said they were rethinking their vote. But others defended the Conservative Party.
Persons: , , Sam Argha, Andrew Testa, Penny Mordaunt, King Charles III, Ms, Mordaunt, Liberal Democrats —, Grahame Milner, Milner, Mr, Tracy Patton, It’s, Daisy Quelch, Kiran Kaur, Quelch, Margaret Thatcher, Nigel Farage, Andrew Revis, Kerry Harris, Shanice Bakes, gestured, Harris Organizations: Conservative, Labour Party, Conservative Party, Portsmouth, The New York Times, The New York, Labour, Liberal Democrats, Conservatives, Navy, Residents, National Health Service, European Union, Reform, Reform U.K Locations: Portsmouth, strollers, Britain, England, Southsea, Dixie’s, Kingston, Credit, Ukraine, Iceland
United Kingdom 2024 Election: Live ResultsThe first results are expected after 6:30 p.m. Eastern. % Seats 0 0.0 % 0 0 0.0 % 0 0 0.0 % 0 0 0.0 % 0 + Show moreBritain is voting in a parliamentary general election that could fundamentally realign its politics. Polling suggests a return to power for the center-left Labour Party, whose promises include ending a tax exemption for private schools and bringing most rail companies into public ownership. Winner No dataBut even as some forecasts indicate a crushing majority for Labour, this is increasingly far from a two-party race. Winner by ConstituencyThis table shows the results from the 2024 election in each constituency grouped by the party that won it in the last general election.
Persons: Boris Johnson, Labour’s Organizations: Labour Party, Labour, Liberal Democrats, Greens, New York Times Locations: Scotland, Wales
The British Election
  + stars: | 2024-07-03 | by ( Mark Landler | ) www.nytimes.com   time to read: +1 min
But Britain is likely to emerge from the election as an outlier. While the electorates in other countries are shifting to the right, British voters are expected to evict the Conservative-led government after 14 years, in favor of the center-left Labour Party. In today’s newsletter, I’ll explain why Britain is zigging while others are zagging. It included harsh budget cuts after the financial crisis of 2008, the Brexit vote of 2016, the Covid pandemic and a revolving door of prime ministers. Liz Truss lasted less than 50 days after the financial markets turned savagely against her proposed tax cuts.
Persons: Nigel Farage, David Cameron, Boris Johnson, Liz Truss, Rishi Sunak Organizations: Conservative, Labour Party Locations: Europe, Americas, Britain
London CNN —British voters are heading to the polls Thursday for a crucial general election that is being seen as a referendum on 14 years of Conservative rule. The opposition Labour party suffered its worst defeat since 1935 in the last general election, but has since rebuilt itself under the leadership of Keir Starmer. Britain has had three Conservative prime ministers since the last general election in 2019, which Boris Johnson won by a landslide. News outlets are barred from reporting anything that could influence voters while polls are opened. An exit poll from British broadcasters will project the seat totals are soon as polls shut at 10 p.m. local time (5 p.m.
Persons: Rishi Sunak, Keir Starmer, Boris Johnson, Johnson, Liz Truss, Nigel Farage –, Brexit – Organizations: London CNN —, Conservative, Labour, European Union Locations: Britain, England, Wales, Scotland, Northern Ireland, British
How Britain Changed Over 14 Years of Conservative RuleSince Britain’s Conservative Party took power 14 years ago, most things have not gone the way it planned. The Economy Has StagnatedAverage productivity growth has declined since 2010…0.0% 0.5% 1.0% 2.0% 2010 2015 2017 2019 2024 Source: Office for National Statistics. 2010 2015 2017 2019 2024 Source: N.H.S. 50% 60% 70% 80% 2010 2015 2017 2019 2024 Source: N.H.S. 2010 2015 2017 2019 2024 Source: Trussell Trust … and thousands more people are sleeping on the streets than in 2010.
Persons: Conservatives ’, England …, Boris Johnson, , Hong Kongers, Rishi Sunak Organizations: Conservative, Britain’s Conservative Party, Conservatives, Local, gov, Conservative Party, European Union, National Health Service, National Statistics, Institute for Public Policy Research, Public Services, Labour, Commons, Department, Loans Company, Higher Education Statistics, YouGov Locations: Britain, Thursday’s, Germany, United States, London, Ukraine, England, Rwanda, United Kingdom
In its 118 years of existence, the Labour Party has been in power for only 33 years. Since the Second World War, Labour has had only three election winners — Clement Attlee, Harold Wilson and Tony Blair. Newly elected British Prime Minister Tony Blair is greeted by a sea of well-wishers in Downing Street, on May 2, 1997. Rebecca Naden/PA/APIn 1997 Tony Blair had been leader of the Labour Party for three years and had never been behind in the opinion polls. Britain's current Labour leader, Keir Starmer with former Labour leaders and prime ministers Tony Blair and Gordon Brown during a reception for King Charles III, in September 2022.
Persons: Philip Collins, Tony Blair, Read, CNN —, — Clement Attlee, Harold Wilson, Sir Keir Starmer, Tony Blair’s, Margaret Thatcher, Boris Johnson, Blair, Adam Butler, Noel Gallagher, Rebecca Naden, Neil Kinnock, John Smith, Philip Collins Starmer, Kinnock, Smith, Starmer, Jeremy Corbyn, Boris Johnson’s, Keir Starmer, Gordon Brown, King Charles III, Brown, Blair's, Kirsty O'Connor, Bury, Organizations: CNN, CNN — Britain’s Labour Party, Labour Party, Labour, Conservative Party, Conservative, Conservatives, British, Blair's Labour Party, British Prime, Oasis, New Labour, Boris Johnson’s Conservative Party, Getty, Bury, Twitter, Facebook Locations: British, Downing, Bury, England –, Britain
Prosectors said these companies exploited workers to pump out bags for a small fraction of their store price. According to documents examined by authorities, Dior paid a supplier $57 to produce bags that retail for about $2,780, Reuters reported last month. Court documents showed that Dior, a subsidiary of LVMH, submitted a memo highlighting its supply chain improvements, the Wall Street Journal reported Tuesday. Advertisement"It's not something sporadic that concerns single production lots, but a generalized and consolidated manufacturing method," said court documents seen by Reuters about the decision to place Dior under administration. "The main problem is obviously people being mistreated: applying labour laws, so health and safety, hours, pay," Milan Court President Fabio Roia told Reuters earlier this year.
Persons: , LVMH, Prosectors, Dior, Giorgio Armani, Armani, Fabio Roia, Bernard Arnault, Delphine Organizations: Service, Business, Reuters, LVMH, Wall Street, Bloomberg, Dior Locations: Milan, China
LONDON — European stocks closed higher Wednesday, as sentiment remains on edge ahead of two major elections. The index provisionally closed 0.8% higher, with most sectors in the green led by mining stocks, up 2.3%. Maersk shares ticked 3.8% higher after the shipping giant withdrew from sales talks with logistics firm DB Schenker. It comes as figures showed softening in the U.S. labor market. ADP data showed less private payroll growth than expected in June, while weekly jobless claims numbers came in higher than forecast.
Persons: Vincent Clerc, Jerome Powell Organizations: Maersk, DB Schenker, Labour Party, Reuters, U.S, Federal Locations: France, Asia, Pacific, U.S
Read previewA growing number of young people globally are struggling to stay in work or school. "They are searching for places where they can be true to themselves, where mental health is not looked down upon but helped, and where working sometimes from home or a coffee shop is possible." AdvertisementRather than jump on the first opportunities that come along, voluntary NEETs are holding back for the right job. Better guidanceOther career experts agreed that development should start early so students understand the variety of different paths available to them. Experts remain divided over how to address the rise in NEETs, in part because no solution would work for all.
Persons: , Louis, there's, Sen, Tim Kaine, who's, Nezih Allioglu, Michaela Wright, Friederike Fabritius, Fabritius, Fabritus, Kleeman Organizations: Service, International Labour Organization, Louis Federal Reserve's Institute for Economic Equity, Business, European Commission, Young Enterprise, Governance Association, New Workforce, Prince's, Labour Force Survey, Sustainability, HSBC UK, Google, Deloitte, WSJ Locations: NEETs, NEETS
Keir Starmer, the leader of Britain’s Labour Party, nodded sympathetically as a young mother recalled, in harrowing terms, how she had watched closed-circuit television footage of the fatal stabbing of her 21-year-old son, whose heart was pierced with a single blow. “Thank you for that,” a somber Mr. Starmer said to the woman and other relatives of victims of knife attacks, as they stood around a wooden table last week, discussing ways to combat violent crime. “It’s really, really powerful.”It was not the most feel-good campaign event for a candidate the week before an election that his opposition party is widely expected to win. But it was entirely in character for Mr. Starmer, a 61-year-old former human rights lawyer who still behaves less like a politician than a prosecutor bringing a case. Earnest, intense, practical and not brimming with charisma, Mr. Starmer finds himself on the cusp of a potential landslide victory without the star power that marked previous British leaders on the doorstep of power, whether Margaret Thatcher, the 1980s free-market champion, or Tony Blair, the avatar of “Cool Britannia.”
Persons: Keir Starmer, nodded, Starmer, “ It’s, Margaret Thatcher, Tony Blair, Organizations: Britain’s Labour Party
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