Sterling Drops to All-time Low Vs. Dollar; Gilt Yields Surge Above 4%
–Speculation of Emergency Bank of England Action Lifts the Pound from $1.0350 –Market Disorder Follows Friday’s Tax-Cutting Fiscal Statement By Laurie Laird LONDON (MaceNews) – Sterling plunged to an all-time low against the dollar early on Monday, following a weekend pledge from the nation’s top finance minister to extend tax cuts beyond the £45billion announced […]
Liz Truss to Become New UK Prime Minister
–Home Secretary Tops Rival Rishi Sunak, Gaining 57% in a Ballot of Conservative Party Members By Laurie Laird LONDON (MaceNews) – UK Home Secretary Liz Truss is poised to become the country’s next prime minister after topping former Chancellor of the Exchequer Rishi Sunak in a poll of Conservative party members. As leader of the […]
Bank of England Lifts Rates by 50 Basis Points Despite Looming Recession
–Governor Andrew Bailey Vows to Tame Inflation Despite Economic Cost By Laurie Laird LONDON (MaceNews) – The Bank of England lifted its benchmark rate by 50 basis points on Thursday – the biggest rise in 27 years – despite warning of recession later this year. That takes the Bank Rate to 1.75%, the highest since […]
Rishi Sunak and Liz Truss Duke it Out in Battle To Become Next UK Leader
–Campaign Likely to Centre on Tax, Cost of Living By Laurie Laird LONDON (MaceNews) – The battle to become the next UK prime minister is likely to be fought over tax policy and rising living costs, as UK Conservative party members begin voting to choose a new leader during the nation’s worst cost-of-living crisis in […]
<strong>UK Premier Boris Johnson Scrapes Through in Confidence Vote</strong>
By Laurie Laird LONDON (MaceNews) – UK Prime Minister Boris Johnson survived a parliamentary confidence vote on Monday night, but the scale of his victory raises questions over his authority through the remainder of the parliamentary session. Members of the premier’s Conservative Party voted by a margin of 211 to 148 to affirm Johnson’s position, allowing […]
UK Prime Minister Boris Johnson to Face Vote of Confidence Monday
–PM needs the support of 180 party lawmakers to remain in office By Laurie Laird LONDON (MaceNews) – Embattled UK Prime Minister Boris Johnson faces a snap vote of confidence in the UK parliament Monday evening, putting his controversial premiership at risk. The announcement came after at least 54 members – or 15% — of […]
UK Chancellor Pledges Energy Support With UK Gov’t Under Further Pressure
— Two Top Downing Street Officials Resign; Northern Irish Executive Under Threat over Brexit LONDON (MaceNews) – UK Chancellor of the Exchequer Rishi Sunak announced a package of measures to reduce the sting of rising energy bills, marking a rare public appearance while the government struggles to counter allegations that civil servants held multiple parties […]
US, UK And Australia Announce ‘New Alignment’ in the Indo-Pacific
WASHINGTON (MaceNews) – The following is the White House transcript of the background press call on AUKUS, the sweeping declaration of cooperation among the U.S., the UK and Australia, to strengthen joint defense against China. The transcript of the call, held on an embargoed basis before the official announcement available at whitehouse.gov, adds much additional […]
UK AGREES TO EUROPEAN UNION BREXIT DEAL
–Few Details But UK Claims Tariff/Quota-free Access for Goods Exports to EU By Laurie Laird LONDON (MaceNews) – With just a week left to run on the current transitional arrangement, the UK has agreed a trade deal with the European Union that will officially end Britain’s membership of the European Union. The UK left the […]
NOTED BOE DOVE ADOPTS MORE CAUTIOUS TONE ON NEGATIVE RATES
By Laurie Laird LONDON (MaceNews) – One of the more dovish Bank of England rate setters has adopted more cautious view toward sub-zero interest rates in the UK, stressing that the development of a Covid vaccine could herald a more-rapid-than-expected return to normal financing conditions. Silvana Tenreyro, an external member of the Bank’s Monetary Policy […]