A decade of rising house prices is over. The UK economy will feel the pain

A decade of rising house prices is over.  The UK economy will feel the pain

London CNN Business — For years, home ownership in the UK has been a one-way venture. Prices have risen steadily since the global financial crisis, increasing in even greater increments after the pandemic began. Fueled by a post-lockdown buying frenzy, the average UK house price hit a record £275,000 ($315,474) in December, up £27,000 on … Read more

Rishi Sunak vows to correct Truss’ ‘mistakes’ after becoming third UK PM in seven weeks

Rishi Sunak vows to correct Truss’ ‘mistakes’ after becoming third UK PM in seven weeks

London CNN — Rishi Sunak officially became Britain’s third prime minister in seven weeks on Tuesday, saying “mistakes were made” by his predecessor as he tried to bring stability to Britain after months of political and economic turmoil. He was appointed by King Charles III at Buckingham Palace in London shortly after Liz Truss resigned … Read more

Rishi Sunak will be Britain’s next prime minister after seeing off rivals in the race to replace Truss

Rishi Sunak will be Britain’s next prime minister after seeing off rivals in the race to replace Truss

London CNN — Former Chancellor of the Exchequer Rishi Sunak will become Britain’s next prime minister after he fended off his only remaining rival in the fast-paced race to become leader of the Conservative Party on Monday. The other potential candidate, Penny Mordaunt, conceded after failing to meet the threshold of nominations from lawmakers required … Read more

Rishi Sunak is a clear front-runner to become Britain’s new prime minister after Boris Johnson drops out

Rishi Sunak is a clear front-runner to become Britain’s new prime minister after Boris Johnson drops out

London CNN — Britain’s former Chancellor of the Exchequer Rishi Sunak emerged on Sunday as the clear front-runner to become the country’s next prime minister after Boris Johnson dramatically dropped out of the race to become leader of the Conservative Party. Current Prime Minister Liz Truss resigned last week after just six disastrous weeks in … Read more

Prime minister’s allowance: Truss is entitled to $129,000 a year as former prime minister, despite shortest tenure ever

Prime minister’s allowance: Truss is entitled to $129,000 a year as former prime minister, despite shortest tenure ever

London CNN — Liz Truss resigned as Britain’s prime minister just 45 days into the job, but she will be able to claim expenses of up to £115,000 ($129,000) a year for the rest of her life. Truss, who presided over failed fiscal plans and a deeply polarized governing party during his disastrous six-week tenure, … Read more

Even the BBC trolls Liz Truss

Even the BBC trolls Liz Truss

London CNN Business — The BBC has taken a swipe at outgoing British Prime Minister Liz Truss – with a little help from Rihanna. After a crisis-filled six-week premiership, Truss resigned on Thursday, making her the shortest-serving prime minister in Britain’s history. Just hours after Truss announced his resignation, the BBC’s Newsnight program later aired … Read more

Boris Johnson out of race to become Britain’s next prime minister

Boris Johnson out of race to become Britain’s next prime minister

LONDON (AP) – Former British Prime Minister Boris Johnson announced Sunday that he will not run to lead the Conservative Party, ending a short-lived bid to return to the prime minister’s job he was ousted for little more than three months ago. His withdrawal leaves former Chancellor of the Exchequer Rishi Sunak the strong favorite … Read more

A look at the top 3 candidates competing to replace Liz Truss as Prime Minister

A look at the top 3 candidates competing to replace Liz Truss as Prime Minister

A look at the top 3 candidates competing to replace Liz Truss as Prime Minister CNN’s Bianca Nobilo reports on the top three candidates for British Prime Minister, a small fraction of the British Conservative Party expected to vote before October 28 to replace Prime Minister Liz Truss.

Boris Johnson is flying back to Britain amid rumors he will run to regain former jobs

Boris Johnson is flying back to Britain amid rumors he will run to regain former jobs

LONDON (AP) – The fast-paced race to replace Liz Truss as British prime minister grew even wilder Saturday as former leader Boris Johnson flew back to Britain amid speculation he will run to regain his former job. Johnson was ousted by a series of ethics scandals just three months ago, but boarded a flight back … Read more

Boris Johnson is flying back to Britain to launch a possible political comeback

Boris Johnson is flying back to Britain to launch a possible political comeback

London CNN — Boris Johnson flew back to London on Saturday morning, perhaps hoping that his arrival at Gatwick Airport would mark the beginning of a triumphant return to 10 Downing Street. Johnson, who was ousted as prime minister in July amid a series of scandals, arrived in Britain from his vacation in the Caribbean … Read more