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Search resuls for: "Daniel Leal"


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☆ British PM Liz Truss axes finance minister, tax cuts that sent pound crashing
  + stars: | 2022-10-14 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Patrick-Smith-Circle-Byline-Template.Jpg | Patrick Smith | ) www.nbcnews.com   time to read: +5 min
LONDON — Embattled British Prime Minister Liz Truss fired her finance minister and abandoned a flagship policy Friday, in a bid to save her job after her economic plan stoked weeks of market panic. Earlier, Truss removed Finance Minister Kwasi Kwarteng just 38 days after the pair took power. Kwarteng becomes the second shortest-serving chancellor of the exchequer, as the British finance minister is known. Truss' personal office confirmed the next finance minister will be Jeremy Hunt, a former health secretary and minister under successive Conservative governments. Crucially, the bank’s bond-buying program is set to end Friday, meaning the government must convince markets its economic plan is sound to avoid further chaos.
☆ British government performs major U-turn on tax cuts. But markets are far from convinced
  + stars: | 2022-10-14 | by ( Hannah Ward-Glenton | ) www.cnbc.com   time to read: +2 min
British Prime Minister Liz Truss attends a news conference in London, Britain, October 14, 2022. Daniel Leal | ReutersLONDON — A major reshuffle and the scrapping of a key tax-cutting pledge by U.K. Prime Minister Liz Truss on Friday wasn't enough to placate markets with the pound and government bonds continuing to sell off. It seems that Truss's speech did little to reassure markets, or to convince analysts that Britain's financial storm has passed. Rather than settling the waters, Truss's U-turn on tax decisions will leave investors cautious of future political upheaval, according to Mike Owens, a U.K. sales trader at Saxo. "The costs of the mini-budget horror show have already been high and it's not clear that the expected corporation tax U-turn will sustainably calm markets," he said.
☆ UK's Truss sacrifices finance minister, scraps tax plan in fight to survive
  + stars: | 2022-10-14 | by ( Elizabeth Piper Kate Holton Alistair Smout | Elizabeth Piper | Kate Holton | ) www.reuters.com   time to read: +7 min
To replace him, she appointed Jeremy Hunt, a former foreign and health secretary who had backed her rival Rishi Sunak in this summer's race to become Conservative Party leader. He is the fourth finance minister in as many months in Britain, where millions are facing a cost of living crisis. Kwarteng becomes Britain's shortest serving finance minister except for a predecessor who died suddenly in office in 1970. Christopher Chope, a veteran Conservative lawmaker and Truss supporter, said the party was now a laughing stock. "The markets have lost trust in the Conservative Party - and who can blame them?"
☆ Insider Life: Red-hot housing market — MGM's Picasso auction — Austin's 'new normal'
  + stars: | 2021-08-13 | by ( Jordan Parker Erb | ) www.businessinsider.com   time to read: +3 min
Kingsley CarsKingsley Cars is a UK-based company that transforms old Range Rovers into $200,000 works of art. Plus, some say Stitch Fix doesn't have enough trendy clothes for clients looking for post-pandemic, "back-to-life" outfits. Hear more from Stitch Fix stylists. See some of the art going up for auction. Marianne Ayala/InsiderAustin's hot housing market has reached what brokers are calling a "new normal."
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