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☆ What do Indians think about Rishi Sunak’s rise? Like UK-India relations, it’s complicated
▼ + stars: | 2022-10-26 | by ( Rhea Mogul | ) edition.cnn.com time to read: +13 min

Now, an Indian-origin man has become the Prime Minister of England,” a Zee News anchor said. Leon Neal/Getty Images Sunak and Boris Johnson watch as a sheep is sheared during a visit to a farm in North Yorkshire, England, in July 2019. Danny Lawson/PA Images/Getty Images Sunak speaks during a general election debate in Cardiff, Wales, in November 2019. Hollie Adams/Bloomberg/Getty Images Sunak and Murty are seen with their daughters, Krishna and Anoushka, while campaigning in Grantham, England, in July 2022. Indian Prime Minister Narendra Modi suggested as much in a tweet welcoming Sunak’s appointment.

☆ 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."

☆ Akshata Murty: Rishi Sunak’s wife is a software heiress who’s richer than royalty
▼ + stars: | 2022-10-25 | by ( Tara John | ) edition.cnn.com time to read: +6 min

And thanks largely to his wife Murty, Sunak will be one of the richest people to reach the top of the political establishment. Murty has a 0.93% stake in her father’s Indian software company, Infosys, worth approximately $715 million. Even Queen Elizabeth wasn’t as rich – the Sunday Times put the late monarch’s net worth at £370 million (about $420 million) before she died. In April, it was reported that Murty enjoyed a tax status in the UK that meant she could legally avoid to pay taxes on her foreign earnings. “I understand and appreciate the British sense of fairness and I do not wish my tax status to be a distraction for my husband or to affect my family.

☆ Rishi Sunak set to become UK PM after meeting King Charles
▼ + stars: | 2022-10-25 | by ( Jenni Reid | ) www.cnbc.com time to read: +5 min

Rishi Sunak has been named as the U.K.'s new prime minister and the country's first leader of color. Jeff J Mitchell | Getty Images News | Getty ImagesLONDON — Rishi Sunak will become the U.K.'s third prime minister of the year Tuesday following a meeting with King Charles III. Sunak was elected party leader by fellow Conservative lawmakers on Monday following the resignation of Liz Truss on Thursday. watch nowThe 42-year-old will be the youngest U.K. prime minister since 1812, and the first person of color to lead the country, which U.S. President Joe Biden said Monday was "a groundbreaking milestone." Sunak's parents are of Indian descent and in the 1960s moved from East Africa to the U.K. Sunak also has the greatest personal wealth of any of his predecessors.

☆ New UK PM Rishi Sunak is a child of privilege, married into almost $1 billion in tech money, and takes over a country struggling to afford heating
▼ + stars: | 2022-10-25 | by ( Mia Jankowicz | Yoonji Han | ) www.businessinsider.com time to read: +8 min

Rishi Sunak will soon become the new prime minister of the UK. It's a union that made Sunak the first frontline UK politician to enter The Sunday Times' annual wealth listing. Sunak and his wife, Akshata Murthy, celebrating the British Asian Trust at the British Museum on February 2022. But despite his attempts to portray a down-to-earth image, the British public has had numerous reminders that Sunak has a very different experience with money than most people. His supporters, including British chancellor Jeremy Hunt, argue that Sunak's experience in finance and at the treasury make him the right man for the job.

☆ Rishi Sunak offers only temporary fix for UK woes
▼ + stars: | 2022-10-24 | by ( George Hay | ) www.reuters.com time to read: +4 min

Now that Sunak has seen off an attempted return by wayward former Prime Minister Boris Johnson, yields are down to 3.7%. About 30 billion pounds of her 45 billion pounds of unfunded tax cuts have been already reversed, leaving a narrower 40 billion pound hole. But cheaper borrowing costs hastened by Sunak’s appointment should cut the gap to just 30 billion pounds, a UK budget expert told Breakingviews. Follow @gfhay on TwitterloadingCONTEXT NEWSFormer finance minister Rishi Sunak will become Britain's next prime minister after winning the race to lead the Conservative Party. Former prime minister and rival Boris Johnson withdrew from the contest saying he could no longer unite the party.

Like Truss, Sunak promised a tough approach to illegal immigration and vowed to expand the government’s controversial Rwanda immigration policy. At the time Johnson was running to lead Britain's Conservative Party and Sunak was a member of Parliament. Danny Lawson/PA Images/Getty Images Sunak speaks during a general election debate in Cardiff, Wales, in November 2019. Danny Lawson/PA/Getty Images Sunak delivers a speech during the annual Conservative Party Conference in Manchester in October 2021. Hollie Adams/Bloomberg/Getty Images Sunak and Murty are seen with their daughters, Krishna and Anoushka, while campaigning in Grantham, England, in July 2022.

☆ Adidas is on the hot seat to cut ties with Kanye West
▼ + stars: | 2022-10-24 | by ( Jon Sarlin | ) edition.cnn.com time to read: +6 min

Balenciaga and Vogue publicly cut ties last week, and on Monday talent agency CAA dropped West as a client, and production company MRC said that it’s shelving a documentary on West. Celebrities including Kat Dennings, Josh Gad and Meg Stalter condemned Adidas for sticking by West. We are waiting @adidas,” read Shannon Watts’ tweet in response to the incident that received more than 100,000 likes. Earlier this month after West wore a “White Lives Matter” shirt in public, Adidas said that it was reviewing its lucrative partnership with his Yeezy brand. With pressure mounting and West’s hate campaign against Jewish people continuing, it seems the question is when, not if, Adidas will cut ties.

☆ Boris Johnson reaches threshold to enter UK leadership race
▼ + stars: | 2022-10-22 | by ( ) www.reuters.com time to read: 1 min

LONDON, Oct 22 (Reuters) - Boris Johnson has enough support to enter the race to become Britain's next prime minister, his ally and Conservative lawmaker James Duddridge said on Saturday, reporting that the former leader had reached the 100 endorsement threshold. The Sunday Times, BBC and Sky News cited an unnamed source close to Johnson as saying he had 100 backers and therefore "could" be on the ballot. Johnson, who arrived in London earlier on Saturday after a holiday in the Caribbean, has not officially declared he is running in the contest, but Duddridge said on Friday that Johnson had told him he was "up for it". read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Muvija M; editing by William JamesOur Standards: The Thomson Reuters Trust Principles.

☆ UK's Boris Johnson and Rishi Sunak to meet, the Sunday Times reports
▼ + stars: | 2022-10-22 | by ( ) www.reuters.com time to read: 1 min

LONDON, Oct 22 (Reuters) - Boris Johnson and Rishi Sunak, the two main potential candidates in the contest to become Britain's next prime minister, will meet, the Sunday Times reported. Johnson is a former prime minister, and Sunak a former finance minister who served under him. Neither has formally declared their candidacy. Sunday Times Chief Political Commentator Tim Shipman said the meeting had been delayed from earlier on Saturday and may now take place later this evening. Register now for FREE unlimited access to Reuters.com RegisterReporting by William James; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

"The prime minister is not under a desk," Mordaunt said in parliament, keeping a straight-face despite the jeers and laughter from the opposition Labour Party facing her. Mordaunt now has her second chance to run for the top job, after just missing out on the final two in the contest to become the leader of the ruling Conservative Party earlier this year. She also promoted her patriotism, talking about her memories of the Falkland's conflict that helped to define former prime minister Margaret Thatcher. Her first post came as a local government minister in 2014, followed by armed forces minister and disabilities minister. Truss appointed Mordaunt as the leader of the House of Commons, charged with setting out the government business with her no-nonsense attitude gaining admirers.

☆ Senior adviser to UK PM Truss suspended - BBC
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +1 min

LONDON, Oct 19 (Reuters) - One of British Prime Minister Liz Truss's most senior advisers has been suspended and is to face a formal investigation by the government's Propriety and Ethics team, the BBC's political editor reported on Wednesday. A spokesperson for Truss declined to comment on what he called individual staffing matters, but said: "The prime minister has made very clear to her team that some of the ... briefings that we have seen are completely unacceptable about parliamentary colleagues and they must stop." Over the weekend, the Sunday Times quoted a source in the prime minister's Number 10 Downing Street office as using an expletive to describe Sajid Javid, a former minister who the newspaper said had been approached to become finance minister after the sacking of Kwasi Kwarteng. Register now for FREE unlimited access to Reuters.com RegisterReporting by Farouq Suleiman, editing by Elizabeth Piper and William JamesOur Standards: The Thomson Reuters Trust Principles.

☆ Analysis: Despite tax U-turn, UK's Hunt still faces tough budget choices
▼ + stars: | 2022-10-17 | by ( William Schomberg | ) www.reuters.com time to read: +5 min

LONDON, Oct 17 (Reuters) - The screeching about-turn on tax cuts by finance minister Jeremy Hunt on Monday will not spare Britain from painful spending cuts and new tax hikes to fix the country's public finances. Paul Johnson, director of the Institute for Fiscal Studies, a think-tank, said Monday's tax cuts U-turn was relatively simple compared with the balance Hunt must strike between more tax increases and spending cuts over the next two weeks. Hunt said the tax U-turns announced so far would raise about 32 billion pounds a year in extra revenues. That was 40 billion pounds above the level needed to cut debt as a share of the economy which currently is about 97%. "With tens of billions of spending cuts still to come, and a new energy support package needing to be devised, many of Jeremy Hunt's tough choices still lie ahead," Torsten Bell, chief executive of the Resolution Foundation, said.

Hunt, appointed on Friday to fix the public finances after Truss's economic plan hammered the value of British assets, said the country needed to generate confidence and stability before it could seek to grow the economy. He said changes to planned tax cuts would raise 32 billion pounds ($36 billion) every year. While he had been expected to reverse some of the tax cuts, the change to the energy support scheme had been unexpected. Truss had announced a two-year subsidy scheme to support households and businesses through the period of surging energy prices, costing 60 billion pounds in six months. Hunt would still deliver a fuller medium-term fiscal plan as scheduled on Oct. 31, alongside forecasts from the independent Office for Budget Responsibility, the Treasury said.

☆ UK finance minister seeks to stem bond rout by rushing forward tax plan
▼ + stars: | 2022-10-17 | by ( William Schomberg | ) www.reuters.com time to read: +4 min

"The chancellor will make a statement later today, bringing forward measures from the Medium-Term Fiscal Plan that will support fiscal sustainability," the finance ministry said. Register now for FREE unlimited access to Reuters.com RegisterSterling was up about 1% against the dollar in trading in Asia. Hunt met Truss over the weekend to overhaul her original economic proposals. No chancellor should seek to do that," the former foreign and health minister told BBC television in an interview broadcast on Sunday. Goldman Sachs said on Sunday it expected Britain's economy to shrink by 1.0% in 2023, a more severe contraction than its previous forecast of a 0.4% shrinkage, as Truss's tax cuts were reversed.

☆ The pound rises after UK's new finance minister speeds up announcement of tax and spending plans to Monday
▼ + stars: | 2022-10-17 | by ( Huileng Tan | Karen Friar | ) www.businessinsider.com time to read: +4 min

The UK's finance minister Jeremy Hunt will lay out details of some of the government's tax plans Monday. The policy details come two weeks early, after abrupt tax U-turns and the sacking of Hunt's predecessor. The pound rose Monday, after weeks where the tax plans roiled markets as investors fretted about stability. The turmoil prompted Nobel laureate Paul Krugman to say the UK markets were "behaving like those of a developing country." That and political pressure on Prime Minister Liz Truss has led to a series of U-turns on the tax plans in recent days.

☆ Massive fiscal U-turn leaves UK in political funk
▼ + stars: | 2022-10-17 | by ( Pierre Briancon | ) www.reuters.com time to read: +4 min

By the tax year ending in April 2027 this should help the government claw back 32 billion pounds of the 45 billion pounds a year Kwarteng and Truss had planned. Beyond that, the scheme, which the government had estimated might cost some 60 billion pounds over six months, will become less generous. The pound strengthened against the U.S. dollar while yields on 10-year UK government bonds declined by nearly 45 basis points. But they remain at 12-year highs, suggesting that the UK has much to do to regain credibility with global investors. Government spending cuts will also be required to narrow a hole in public finances that the Sunday Times reported was as big as 72 billion pounds ($81 billion).

☆ New UK finance minister faces market verdict after gutting Truss's plans
▼ + stars: | 2022-10-16 | by ( William Schomberg | ) www.reuters.com time to read: +3 min

LONDON, Oct 17 (Reuters) - Britain's new finance minister Jeremy Hunt faces an early test of his attempt to stem the crisis of confidence in Prime Minister Liz Truss on Monday when the bond market delivers its verdict on his weekend overhaul of her economic programme. No chancellor should seek to do that," Hunt told BBC television in an interview broadcast on Sunday. The Sunday Times reported Hunt would delay by a year a cut to income tax for workers which Truss had promised for April. "MEETING OF MINDS"Any bond market respite is likely to prove fragile before Hunt announces a new budget plan on Oct. 31. The budget will aim to narrow a hole in public finances that the Sunday Times reported is as big as 72 billion pounds ($80.4 billion), including the 45 billion pounds of tax cuts originally planned by Truss, only about 20 billion pounds of which have so far been reversed.

☆ UK's Hunt to delay another tax cut to plug 72 billion-pound black hole, the Sunday Times reports
▼ + stars: | 2022-10-15 | by ( ) www.reuters.com time to read: 1 min

LONDON, Oct 15 (Reuters) - Britain's new finance minister Jeremy Hunt is to delay a planned reduction to the basic rate of income tax by one year after the country's fiscal watchdog warned that the public finances were in a worse state than expected, the Sunday Times reported. The newspaper said Hunt would put off for a year a plan to reduce the basic rate of income tax next April, to save 5 billion pounds ($5.6 billion) a year. It said Hunt needed to plug a black hole in the public finances of 72 billion pounds. ($1 = 0.8953 pounds)Register now for FREE unlimited access to Reuters.com RegisterReporting by Kate Holton; editing by Philippa FletcherOur Standards: The Thomson Reuters Trust Principles.

☆ Graham Norton says ‘cancel culture’ is really just accountability
▼ + stars: | 2022-10-14 | by ( Scottie Andrew | ) edition.cnn.com time to read: +2 min

CNN —The phrase “cancel culture” has become a ubiquitous catchall that celebrities may cling to after they make a controversial or offensive statement. But Graham Norton doesn’t think that’s the correct description for what really happens when fans criticize “canceled” people. Speaking to interviewer Mariella Frostrup, Norton decried the concept of “canceling” anyone who still has a sizable platform from which to speak. “You read a lot of articles in papers by people complaining about ‘cancel culture,’” he told Frostrup. I’m reading your name in a newspaper, or you’re doing an interview about how terrible it is to be canceled.”“I think [‘cancel culture’] is the wrong word,” he continued.

But whatever your feelings toward Elizabeth, it’s clear that the institution of the British monarchy is far from benevolent. Meanwhile, the exact worth of the British monarchy is very difficult to calculate. The Sunday Times' Rich List calculated the queen’s personal net worth as 370 million pounds (more than $420 million), while the author and royal expert David McClure estimated it at 400 million pounds (around $460 million). In 2021-2022, the royal household’s financial report calculated this as 86.3 million pounds ($98.5 million). (According to the BBC, this portfolio generates around 20 million pounds a year in profits.)

☆ Chief of staff to UK's new PM interviewed by the FBI over alleged Puerto Rico election bribe plot, says Sunday Times report
▼ + stars: | 2022-09-18 | by ( Bethany Dawson | ) www.businessinsider.com time to read: +3 min

Liz Truss's chief of staff has been interviewed by the FBI about a plot to influence an American election, The Sunday Times reports. Mark Fullbrook has been made a formal subject of a DoJ and FBI investigation into an alleged bribery plot in Puerto Rico. Mark Fullbrook has been made a formal subject of a DoJ and FBI investigation in April into an alleged conspiracy to influence a gubernatorial election in Puerto Rico. Number 10 Chief of Staff Mark Fullbrook leaving after a meeting with Liz Truss at Downing Street in London. Dominic Lipinski/PA/Getty ImagesThe FBI and DoJ investigation focuses on an alleged bribe plot involving Julio Herrera Velutini, an international banker and Conservative party donor, and Mark Rossini, a former FBI special agent.

☆ Fast-fashion brands Boohoo and Pretty Little Thing are getting slammed for greenwashing after critics call sustainability claims misleading
▼ + stars: | 2022-09-17 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Boohoo is one of several fast fashion brands under investigation for sustainability practices. 'The most sustainable thing they can do is just cease operations altogether,' one critic said. Pretty Little Thing also faced greenwashing accusations of its own after announcing its "Pretty Little Thing Marketplace" feature in August. He continued: "The most sustainable thing they can do is just cease operations altogether." Boohoo and PLT aren't the only fast fashion brands getting called out for their attempts to go green.

☆ Elon Musk's sister thought the Tesla CEO would follow through with Twitter deal: 'I would believe that he's going to do it'
▼ + stars: | 2022-07-10 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +2 min

Elon Musk's sister Tosca believed her brother would go through with the $44 billion Twitter deal. "If he says he's going to do it I would believe that he's going to do it," she said in a profile. "If he says he's going to do it I would believe that he's going to do it," Tosca Musk told the Sunday Times. Twitter said they will be taking Musk to court to force him to follow through with the deal. Tosca Musk is Elon Musk's sister and the youngest of three siblings.

☆ COVID-ситуация в мире: В Украине зафиксировали резкий спад коронавируса
▼ + stars: | 2021-05-30 | by ( ) novostipmr.com time to read: +3 min

Согласно данным Университета Джонса Хопкинса, в мире заразились более 169,9 млн человек, свыше 3,5 млн скончались. Индия находится на втором месте (27,8 млн), на третьем — Бразилия (16,4 млн), на четвертом — Франция (5,7 млн), на пятом — Турция (5,2 млн). В Украине зафиксировали резкий спад коронавируса. За все время пандемии в Украине заболели 2 201 472 человека, выздоровели 2 036 148 человек, а умерли - 50 472. Число вылечившихся от коронавируса увеличилось до 247 349 человек (+109 за сутки).

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