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LONDON — Former finance minister Rishi Sunak won the race to be Britain's next prime minister Monday and will become the third leader in seven weeks of a country upended by political and economic chaos. Sunak, 42, will become the latest leader of the ruling Conservative Party to enter the revolving door of No. 10 Downing St., following Liz Truss' resignation just 44 days after taking office. "Rishi Sunak is therefore elected as leader of the Conservative Party," Graham Brady, the Conservative lawmaker who oversees the party's leadership elections, told his colleagues, who banged on tables and cheered at the announcement. The son of African-born Hindus of Indian descent, Sunak will be the country's second ethnic minority leader, after 1800s Jewish prime minister Benjamin Disraeli, who was a practicing Christian.

☆ Rishi Sunak Wins Vote to Become U.K.’s Next Prime Minister After Liz Truss Resigns
▼ + stars: | 2022-10-24 | by ( Max Colchester | Paul Hannon | ) www.wsj.com time to read: 1 min

LONDON—Former Chancellor Rishi Sunak , who warned that Liz Truss ’ economic plans for Britain were a “fairy tale,” won the contest to succeed her as prime minister on Monday, taking over the world’s sixth-biggest economy at a time of deep financial and political turbulence. Mr. Sunak will formally enter Downing Street after his only remaining rival for the job, former defense minister Penny Mordaunt , said on Twitter she would drop out of the contest. “Rishi has my full support,” she wrote. Mr. Sunak is expected to be formally appointed prime minister by King Charles as soon as Monday afternoon.

☆ Rishi Sunak Wins Vote to Become U.K.’s Next Prime Minister
▼ + stars: | 2022-10-24 | by ( Max Colchester | Paul Hannon | ) www.wsj.com time to read: 1 min

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.

Sunak, the 42-year-old former finance minister, could be named leader as soon as Monday to replace Liz Truss, becoming Britain's third prime minister in less than two months. "The United Kingdom is a great country but we face a profound economic crisis," Sunak said in a statement declaring his candidacy on Sunday. Should she fail to hit the threshold, Sunak would become prime minister. "He's not taking anything for granted at all," interior minister Grant Shapps, a supporter of Sunak, told BBC television. If chosen, the former Goldman Sachs analyst would be the United Kingdom's first prime minister of Indian origin.

Then, the former finance minister repeatedly described his predecessor's ideas as "fairytale" economics that would spook the markets. He will also be the first person of colour to become Britain's prime minister. "I grew up in the 80s and 90s, and I could not even imagine a non-white prime minister in my lifetime... COVID CHAMPIONSunak rose swiftly up the ranks of the Conservative Party, becoming, in 2020, one of the youngest finance ministers. When the COVID-19 pandemic hit Britain, Sunak dropped the Conservatives' small-state instincts to borrow massively and stave off the risk of an economic depression.

☆ Rishi Sunak closes in on Downing Street after Boris Johnson pulls out of leadership race
▼ + stars: | 2022-10-24 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Rishi Sunak could be elected leader of the Conservative Party and prime minister of the U.K. if he receives enough votes from fellow lawmakers Monday. LONDON — Former Finance Minister Rishi Sunak looks set to become the next prime minister of the U.K., with votes to be counted Monday afternoon. Former Prime Minister Boris Johnson was Sunak's biggest competition, but he dropped out of the race late Sunday. The only remaining contender for the leadership position is Penny Mordaunt, a former defense minister, who came behind Sunak in the original contest to take charge of the Conservative Party in September. It remains unclear how many Conservative lawmakers who backed Johnson will now move to support Sunak or Mordaunt.

☆ UK finance minister Hunt: 'Time for honesty' about economic challenges
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: 1 min

British Chancellor of the Exchequer Jeremy Hunt walks outside Downing Street in London, Britain October 24, 2022. REUTERS/Peter NichollsLONDON, Oct 24 (Reuters) - British finance minister Jeremy Hunt said on Monday it was time for "honesty" about the economic challenges facing the country as he congratulated Rishi Sunak on becoming the next prime minister. "This is a time for honesty about the huge economic challenges we face, and courage in addressing them," Hunt wrote on Twitter. "We have a PM who can be trusted to do just that - and give us all confidence in the huge potential of our country." Register now for FREE unlimited access to Reuters.com RegisterReporting by Sachin Ravikumar Editing by William SchombergOur Standards: The Thomson Reuters Trust Principles.

☆ Pound holds ground as Rishi Sunak leads race to become UK prime minister
▼ + stars: | 2022-10-24 | by ( Julia Horowitz | ) edition.cnn.com time to read: +6 min

London CNN Business —Britain’s third prime minister in seven weeks will face the huge challenge of projecting stability after a period of historic political and financial market chaos. Rishi Sunak emerged over the weekend as the clear front-runner in the dramatic race to replace Liz Truss, who’s set to be the shortest-serving prime minister in UK history. “A key focus for the next Prime Minister and their chosen Chancellor needs to be fiscal responsibility,” Carl Emmerson, deputy director of the Institute for Fiscal Studies, said in a statement. An economy in recessionThe Bank of England forecast last month that the UK economy was already in recession. 10 Downing Street, investors and economists expect the revamped economic plan outlined by current finance minister Jeremy Hunt to remain intact.

☆ Indians pinning their hopes on Rishi Sunak on Diwali
▼ + stars: | 2022-10-24 | by ( Krishna N. Das | ) www.reuters.com time to read: +3 min

NEW DELHI, Oct 24 (Reuters) - Many Indians are delighted at the prospect of Rishi Sunak becoming the first person of Indian origin to become British prime minister on Monday, just as Hindus across the world celebrate Diwali. "Rishi Sunak took oath as an MP on (Hindu holy book) Bhagavad Gita. Former British finance minister Sunak, 42, is a practising Hindu and is known to celebrate the festival of lights. Some Indians are hoping for closer British-Indian ties if Sunak does become prime minister. "@RishiSunak becoming the British PM will be a great Diwali gift for UK, & a reason for celebration in India," former Indian diplomat Rajiv Dogra wrote on Twitter.

☆ Boris Johnson battles to win support in shock U.K. PM comeback bid
▼ + stars: | 2022-10-23 | by ( Hyder Abbasi | ) www.nbcnews.com time to read: +5 min

LONDON — Thousands tracked his flight back to the U.K. as he returned from a Caribbean vacation, and several lawmakers have tweeted “welcome back boss,” but on Sunday, Boris Johnson was fighting to get enough support to make a shock return as Britain’s prime minister. British Prime Minister Boris Johnson speaks during a Cabinet meeting alongside Chancellor of the Exchequer Rishi Sunak in London in May. Former Conservative party leader William Hague said Friday that Johnson’s return would lead to a “death spiral” for the party. A selection of the front pages of British national newspapers showing the reaction to the resignation of Prime Minister Liz Truss in London on Friday. “A significant majority of the British people wanted him to resign as prime minister, and his approval ratings were historically low by the time he stopped being prime minister,” he said.

☆ Boris Johnson drops out of race to be next UK PM, despite claiming he could win
▼ + stars: | 2022-10-23 | by ( Kieran Corcoran | ) www.businessinsider.com time to read: +1 min

Boris Johnson ruled himself out of the contest to be the next prime minister of the UK on Sunday. The declaration, issued around 9 p.m. local time, ended the extraordinary prospect of Johnson returning to power only two months after leaving Downing Street in disgrace. His departure left two Conservative Party MPs in the running to succeed Liz Truss, who resigned on Thursday after a disastrous six weeks in power as Johnson's successor. Mordaunt reached third place in the last leadership election, which Truss won, while Sunak was second. "There is a very good chance that I would be successful in the election with Conservative Party members – and that I could indeed be back in Downing Street on Friday," he wrote.

☆ Johnson battling to win support for fresh PM bid
▼ + stars: | 2022-10-23 | by ( ) www.reuters.com time to read: +2 min

Leading figures who previously backed Johnson, came out in support for former finance minister Sunak ahead of a first vote by Conservative lawmakers on Monday. Johnson was forced out of office in July when Sunak quit, triggering a wider rebellion that prompted Johnson's ministers to resign en masse. Baker said the country now needed a period of stability after Truss sparked turmoil in finance markets, and that meant not voting for Johnson again. "What we can't do is have him in as prime minister in circumstances where he's bound to implode, taking down the whole government with him," he said. Mordaunt-backer Damian Green dismissed reports that she was struggling to meet the threshold, telling Sky News that she would not pull out.

☆ Boris Johnson's statement on pulling out of the UK prime minister race
▼ + stars: | 2022-10-23 | by ( ) www.reuters.com time to read: +2 min

LONDON, Oct 23 (Reuters) - Boris Johnson on Sunday night said he had pulled out of the race to become Britain's next prime minister, saying he realised the country and the Conservative Party needed unity. There is a very good chance that I would be successful in the election with Conservative Party members - and that I could indeed be back in Downing Street on Friday. "But in the course of the last days I have sadly come to the conclusion that this would simply not be the right thing to do. "I believe I have much to offer but I am afraid that this is simply not the right time." Register now for FREE unlimited access to Reuters.com RegisterCompiled by Andrew MacAskill Editing by William SchombergOur Standards: The Thomson Reuters Trust Principles.

☆ British Foreign Secretary Cleverly endorses Boris Johnson for PM
▼ + stars: | 2022-10-23 | by ( ) www.reuters.com time to read: 1 min

LONDON, Oct 23 (Reuters) - British Foreign Secretary James Cleverly endorsed Boris Johnson's bid to return to 10 Downing Street as prime minister on Sunday. "I know Boris has learned lessons from his time in No. 10 and will ensure the focus is on the needs of the country from day one," Cleverly said on Twitter. "I will be supporting him to return to the role of PM." Register now for FREE unlimited access to Reuters.com RegisterReporting by Paul Sandle; Editing by Kate HoltonOur Standards: The Thomson Reuters Trust Principles.

☆ Boris Johnson pulls out of UK Conservative leadership race
▼ + stars: | 2022-10-23 | by ( ) www.reuters.com time to read: +1 min

"There is a very good chance that I would be successful in the election with Conservative Party members - and that I could indeed be back in Downing Street on Friday," Johnson said in a statement. "But in the course of the last days I have sadly come to the conclusion that this would simply not be the right thing to do. You can't govern effectively unless you have a united party in parliament." He will be named leader of the Conservative Party and become prime minister on Monday unless candidate Penny Mordaunt reaches the threshold of 100 backers to force a run-off vote by party members. Register now for FREE unlimited access to Reuters.com RegisterReporting by Paul SandleOur Standards: The Thomson Reuters Trust Principles.

Johnson previously enjoyed high levels of popularity until losing credibility in the final months of his premiership. Gleb Garanich | ReutersLONDON — Former U.K. Prime Minister Boris Johnson will not take part in the contest to replace outgoing leader Liz Truss. Johnson is believed to still be popular in the grassroots of the wider Conservative Party despite many Tory MPs being firmly against a return. "There is a very good chance that I would be successful in the election with Conservative Party members — and that I could indeed be back in Downing Street on Friday. How the contest worksTruss' successor will once again be decided by a Conservative Party leadership contest drawn from a short-list of candidates.

☆ Boris Johnson battling to win support for fresh prime minister bid
▼ + stars: | 2022-10-23 | by ( ) www.cnbc.com time to read: +1 min

Former Prime Minister Boris Johnson arrives at Gatwick Airport in London, after returning from the Caribbean on Oct. 22, 2022. Johnson is trying to garner enough support to launch a bid to replace Liz Truss who resigned as prime minister. Boris Johnson was fighting to get enough support to become Britain's next prime minister on Sunday after prominent figures on the right-wing of the Conservative Party coalesced around the man once accused of betraying him, Rishi Sunak. Leading figures who previously backed Johnson, came out in support for former finance minister Sunak ahead of a first vote by Conservative lawmakers on Monday. "I'm afraid the trouble is because of the privileges vote, Boris would be a guaranteed disaster."

☆ Ukraine's Zelenskiy: We can down most Russian missiles, will improve
▼ + stars: | 2022-10-22 | by ( ) www.reuters.com time to read: +1 min

Oct 22 (Reuters) - Ukrainian President Volodymyr Zelenskiy said on Saturday that Russia had launched strikes on infrastructure on a "very wide" scale and pledged that his military would improve on an already good record of downing missiles with help from its partners. "The geography of this latest mass strike is very wide," Zelenskiy said in his nightly video address, citing regions in western, central and southern Ukraine. "Of course we don't have the technical ability to knock down 100 percent of the Russian missiles and strike drones. Already now, we are downing a majority of cruise missiles, a majority of drones." Register now for FREE unlimited access to Reuters.com RegisterReporting by Ronald Popeski; editing by Diane CraftOur Standards: The Thomson Reuters Trust Principles.

☆ Boris Johnson’s Potential Return Shakes Up Race for U.K. Prime Minister
▼ + stars: | 2022-10-21 | by ( Max Colchester | ) www.wsj.com time to read: 1 min

British newspapers have played up the possibility of Boris Johnson’s return to Downing Street. LONDON—Months after his own party’s lawmakers forced him to quit as prime minister, Boris Johnson is poised to attempt a comeback. Dozens of Tory lawmakers publicly backed Mr. Johnson on Friday, as candidates vied to replace Prime Minister Liz Truss , who stepped down after 45 days on the job when her proposed policy of large tax cuts and spending increases sent markets reeling.

A Reuters tally of Conservative lawmakers who have made public declarations of support put Sunak on 70 backers, Johnson on 37 and Mordaunt on 20. 1/6 British Prime Minister Boris Johnson makes a statement at Downing Street in London, Britain, July 7, 2022. Luxembourg's Prime Minister Xavier Bettel said leaving the European Union had brought instability to Britain. Opposition parties, some newspapers and even a few Conservative lawmakers have called for a general election to be held. Some Conservative lawmakers have urged colleagues to coalesce around one candidate to avoid a bruising battle.

☆ British pound slides on political uncertainty, reversing Liz Truss resignation bounce
▼ + stars: | 2022-10-21 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

British Prime Minister Liz Truss announces her resignation, outside Number 10 Downing Street, London, Britain October 20, 2022. Henry Nicholls | ReutersLONDON — The British pound fell 1.4% against the dollar Friday, more than wiping out the moderate gains it made following the resignation of Prime Minister Liz Truss. Truss announced she would be stepping down Thursday, saying she could not deliver the mandate on which she was elected just 44 days prior. The pound was rocky through the day, but ended it slightly higher than the previous session. Sunak, who was finance minister under former Prime Minister Boris Johnson and ran head-to-head against Truss for the leadership over the summer, is considered a favorite to replace her.

☆ Lurking behind Britain’s political mess is an economy on the edge
▼ + stars: | 2022-10-21 | by ( Julia Horowitz | ) edition.cnn.com time to read: +5 min

London CNN Business —The spectacle surrounding Liz Truss, who on Thursday secured her fate as the shortest-serving prime minister in UK history, has quickly given way to a frenetic race to determine who will replace her. 10 Downing Street next will inherit an economic mess with no easy fixes. “A key focus for the next Prime Minister and their chosen Chancellor needs to be fiscal responsibility,” Carl Emmerson, deputy director of the Institute for Fiscal Studies, said in a statement on Friday. An economy in recessionEconomists agree that if the United Kingdom isn’t already in recession, one is likely to arrive soon. The cost of uncertaintyTruss has said the Conservative Party will install a new prime minister within a week.

☆ Twitter is bowing down to Larry the Cat, Downing Street's Chief Mouser, for outlasting 4 prime ministers
▼ + stars: | 2022-10-21 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +2 min

Larry the cat is Downing Street's Chief Mouser, and has worked there since February 15, 2011. When Truss leaves office, Larry the Cat will have outlasted four prime ministers. Larry, the official cat at the British prime minister's 10 Downing Street residence, holds the title of Chief Mouser. "The King has asked me to become Prime Minister because this nonsense has gone on long enough," read a tweet from the account on Thursday. One Twitter user posted a photoshopped image of Larry in front of a crowd holding signs that reads: "Larry for Leader."

☆ Comeback king: Boris Johnson considering a run for UK prime minister
▼ + stars: | 2022-10-21 | by ( Elizabeth Piper | ) www.reuters.com time to read: +5 min

British Prime Minister Boris Johnson speaks during his visit to EDF's Sizewell B Nuclear power station, in Sizewell, Britain September 1, 2022. Chris Radburn/Pool via REUTERSSummary Johnson taking soundings from lawmakersHad said he wanted a quieter lifeUnder investigation for lying to parliamentLONDON, Oct 21 (Reuters) - Out of power for a matter of months, comeback king Boris Johnson is once again being touted as the new leader of the governing Conservative Party and Britain's prime minister. For some Conservative lawmakers, Johnson is a vote winner, able to appeal across the country not only with his celebrity but also with his brand of energetic optimism. When Johnson left Downing Street, his aides said he was going to embrace a quieter life, no longer being "public property" and able to make more money by going on the speaker circuit. After his successor as prime minister, Liz Truss, quit on Thursday after just six weeks in power, the Ukrainian government Twitter account even published, and then deleted, a meme saying "Better call Boris".

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