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☆ UK's Sunak stands by minister accused of sending bullying texts
▼ + stars: | 2022-11-06 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 6 (Reuters) - British Prime Minister Rishi Sunak is standing by a government minister who has been accused of bullying a colleague, cabinet office minister Oliver Dowden said on Sunday, saying the phone messages in question were sent "in the heat of the moment". I think he now accepts that he shouldn't have done it and he regrets doing so," Dowden told Sky News. "He shouldn't have sent those messages ... But of course the prime minister continues to have confidence in Gavin Williamson." Since being appointed as Britain's third prime minister in two months almost two weeks ago, Sunak has come under pressure for his government appointments, particularly Braverman's reappointment as interior minister.

☆ The company that pays Akshata Murthy, wife of British PM Rishi Sunak, £11.5 million a year is still operating in Russia, report says
▼ + stars: | 2022-11-05 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Infosys, founded by Rishi Sunak's father-in-law, is still operating in Russia, The Guardian reported. The IT firm still has staff in Moscow and is paying two subcontractors, per the report. Infosys, which pays the PM's wife £11.5 million in dividends, said it would leave Russia in March. A spokesperson told The Guardian that it was seeking to end the arrangement and had taken measures to "suspend its operations in Russia". A Downing Street spokesperson told The Guardian: "Neither Akshata Murty nor any members of her family have any involvement in the operational decisions of the company."

☆ Nurses in Britain to strike, nursing college says
▼ + stars: | 2022-11-05 | by ( ) www.reuters.com time to read: +1 min

LONDON, Nov 5 (Reuters) - Nurses in Britain will go on strike, the Royal College of Nursing (RCN) said on Saturday, an action that will add to Prime Minister Rishi Sunak's challenges during an economic crisis. School workers are also going to vote on strike action. "Our strike action will be as much for patients as it is for nurses – we have their support in doing this," RCN general secretary and chief executive Pat Cullen said in a statement on Saturday. The nurses would strike before Christmas, the Observer newspaper reported. The walkout would be the first national strike in the history of the RCN, said the newspaper, which cited union officials.

☆ Bank of England raises its benchmark rate by 75 basis points, its biggest hike in 33 years
▼ + stars: | 2022-11-03 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

A passageway near the Bank of England (BOE) in the City of London, U.K., on Thursday, March 18, 2021. LONDON — The Bank of England on Thursday raised interest rates by 75 basis points, its largest single hike since 1989, but struck a dovish tone as policymakers looked to temper market expectations for further aggressive monetary policy tightening. The 75 basis point increase takes the Bank Rate to 3%, its eighth consecutive hike to the main lending rate, after the Monetary Policy Committee voted 7-2 in favor. One member voted for a 0.5 percentage point rise while one preferred a 0.25 increase. Economists had anticipated a less hawkish tone from the central bank after the change in the U.K. government.

☆ Europe warms more than any other continent in last 3 decades
▼ + stars: | 2022-11-02 | by ( Gloria Dickie | Isla Binnie | ) www.reuters.com time to read: +2 min

LONDON, Nov 2 (Reuters) - Europe has warmed more than twice as much as the rest of the world over the past three decades and experienced the greatest temperature increase of any continent, according to a report by the World Meteorological Organization. The report on the state of the climate in Europe follows a summer of extremes. "Europe presents a live picture of a warming world and reminds us that even well prepared societies are not safe from impacts of extreme weather events," WMO secretary-general Petteri Taalas said in a statement. For example, fewer clouds over Europe during the summer has meant more sunlight and heat now reaches the continent, said Freja Vamborg, senior scientist with the Copernicus Climate Change Service. Some scientists have called Europe a "heatwave hotspot" as the number of heatwaves on the continent have increased faster than in other regions due to changes in atmospheric circulation.

☆ UK's Rishi Sunak becomes richest ever occupant of Number 10
▼ + stars: | 2022-10-25 | by ( Alistair Smout | ) www.reuters.com time to read: +5 min

The wealth of Sunak's family puts him above the previous richest prime minister, who according to the Guineas Book of World Records was Edward Stanley. "Rishi Sunak's words will do nothing to reassure struggling people worried sick about the winter ahead," leader of the pro-EU Liberal Democrats Ed Davey said, calling Sunak "out-of touch". The couple faced criticism and public anger in April over Murthy's "non-domiciled" tax status which meant she did not pay tax in Britain on her earnings abroad. "This is the same Rishi Sunak who as Chancellor failed to grow the economy, failed to get a grip on inflation, and failed to help families with the Tory cost of living crisis," Labour deputy leader Angela Rayner said in statement on Monday. "And it's the same Rishi Sunak whose family avoided paying tax in this country before he put up taxes on everyone else."

☆ Video shows Biden mispronouncing Rishi Sunak's name, celebrating 'Rashi Sanuk' becoming the UK's first prime minister from an Asian background
▼ + stars: | 2022-10-25 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +2 min

Welcoming news of the UK's first prime minister of Asian background, Biden called him "Rashi Sanuk." "Just today, we've got news that Rashi, Rashi Sanook is now the prime minister," he told the audience at a White House event marking the Hindu festival of Diwali. A short video of the gaffe can be seen here:Sunak's leadership sets notable firsts for the UK — the country's first prime minister of an Asian background, and its first Hindu prime minister. Sunak's Hindu parents, the children of an Indian family, were born in colonial Kenya and Tanzania before emigrating to the UK. At a White House event earlier in October, he asked after congresswoman Jackie Walorski, who died two months earlier.

☆ Rishi Sunak's first speech as UK prime minister
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +3 min

LONDON, Oct 25 (Reuters) - Rishi Sunak made his first speech as Britain's prime minister on Tuesday, acknowledging the mistakes of his predecessor Liz Truss while vowing to fix the economy, lead with integrity and fulfil the promises of the Conservative Party's 2019 manifesto. Below are the highlights from Sunak's speech:ON THE ECONOMY"Our country is facing a profound economic crisis. Register now for FREE unlimited access to Reuters.com Register"I will place economic stability and confidence at the heart of this government's agenda. And I have been elected as leader of my party and your prime minister, in part to fix them." ON BORIS JOHNSON"I will always be grateful to Boris Johnson for his incredible achievements as prime minister and I treasure his warmth and generosity of spirit.

☆ Factbox: UK PM Rishi Sunak's new team of ministers
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: 1 min

[1/10] Jeremy Hunt walks outside Number 10 Downing Street, in London, Britain, October 25, 2022. REUTERS/Henry NichollsLONDON, Oct 25 (Reuters) - British Prime Minister Rishi Sunak on Tuesday appointed key ministers to his government after replacing Liz Truss as leader earlier in the day. Below are the main Cabinet and ministerial appointments:Compiled by Sachin Ravikumar, Muvija M and William Schomberg; editing by William James and Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.

☆ FTSE 100 muted as HSBC earnings disappoint
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100 flat, FTSE 250 up 0.2%Oct 25 (Reuters) - UK's FTSE 100 was subdued at the open on Tuesday after a burst of optimism following Rishi Sunak's victory in the race to become the new prime minister, while HSBC slipped, dragged by a sharp drop in quarterly profit. Register now for FREE unlimited access to Reuters.com RegisterOverall, the blue-chip FTSE 100 was flat after closing at its strongest level in over two weeks on Monday, while the domestically oriented FTSE 250 added 0.2%. Sunak will be appointed prime minister by King Charles on Tuesday, replacing Liz Truss, who lasted six weeks in the job after her economic programme sparked panic in financial markets. read moreOnline retail platform THG (THG.L) jumped 17.2% after it reiterated full-year forecast, and said it has made a positive start to the fourth quarter. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Johann M Cherian in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

Average two-year and five-year fixed rates hit 6.65% and 6.51% on Thursday, according to Moneyfacts, the highest since 2008. FALLING PRICESA drop in gilt yields following Rishi Sunak's victory in the Conservative Party leadership race could potentially feed through to lower mortgage rates. But the number of loans available for first-time buyers remains at less than half those on offer before the mini-budget, according to Moneyfacts. NEW FIXESAs well as first-time buyers, brokers are dealing with thousands of people whose fixed rate mortgages are due to expire in the coming months. Redmond, who has had an offer accepted in east London, said it felt as though every turn of political event only made the fixed interest rate higher.

☆ VIEW Rishi Sunak to become Britain's new PM, UK markets rally
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +8 min

LONDON, Oct 24 (Reuters) - Former British finance minister Rishi Sunak will be Britain's next prime minister after his rivals quit the race, which analysts said had relieved some of the nervousness around the outlook for the UK economy, boosting domestic markets. The new Prime Minister needs to confirm their leadership team as soon as possible and provide clarity on their strategy for stabilising the economy and their policy priorities. ART HOGAN, CHIEF MARKET STRATEGIST, B. RILEY WEALTH, NEW YORK:"Coming to a very rapid decision on who the prime minister is going be certainly breathes a sigh of relief into the markets. RUTH GREGORY, SENIOR UK ECONOMIST, CAPITAL ECONOMICS, LONDON:"The fall in gilt yields on the news today that Rishi Sunak will become the UK’s next Prime Minister has reduced the chances of a significant fiscal consolidation. With the pound, just because we have a new Prime Minister in place, all of the issues don't just go away and we still have remarkable strength being enjoyed by the dollar."

☆ Factbox: What is Rishi Sunak's solution to Britain's problems?
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +5 min

Although some of the challenges have changed since then, what does that campaign tell us about how he would govern? ECONOMIC CHALLENGESRegister now for FREE unlimited access to Reuters.com RegisterBritain is facing an economically toxic combination of recession and rising interest rates. The Bank of England is trying to tame double-digit inflation while consumers face rising costs and falling real incomes. ECONOMIC POLICIESIn a statement issued on Sunday announcing his candidacy, Sunak said the country faced a "profound economic crisis". He also refused to rule out Britain's withdrawal from the European Court of Human Rights.

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