Business

Cameron gives nod to civil service in final speech as prime minister

Cameron gives nod to civil service in final speech as prime minister

Speaking outside No. 10 Downing Street shortly before his meeting with the monarch, Mr Cameron said being Prime Minister was "the greatest honour" of his life and that it had "not been an easy journey", reported the BBC. 10 Downing Street has inspired music nerds all over the world. "Good afternoon. When I first stood here in Downing Street on that evening in May 2010 I said we would confront our problems as a country and lead people through hard decisions so that together we could reach ...



Philip Hammond Kills Off George Osborne's Emergency Brexit Budget

Mr Hammond said he would be meeting Bank of England Governor Mark Carney on Thursday morning and would take a view on the state of the economy after a series of meetings. After a prominent role in the Brexit campaign, he was tipped to become Prime Minister. Prior to his time in government, as part of Cameron's finance team in opposition, Hammond played a part in crafting Osborne's austerity plan, leading to speculation among economists he may be more of a fiscal hawk than May.


Pound jumps after Bank of England opts against rate cut

Pound jumps after Bank of England opts against rate cut

Instead, Carney announced last week that the BoE had made a decision to cut banks' additional capital buffer requirements in order to free up capital and boost lending to households and companies. The 0.5% rate, announced on Thursday 5 March 2009, is the lowest level seen in the United Kingdom in more than 300 years. United Kingdom stocks swung lower Thursday while the pound climbed after the Bank of England confounded market expectations by leaving its benchmark interest rate ...



Bank of England defies expectations to keep interest rates at 0.5%

The Bank of England has surprised the City by leaving interest rates on hold at its first policy meeting since the United Kingdom voted to leave the EU. Before the referendum, it was widely expected to raise rates later this year or in early 2017, following the lead of the U.S. Federal Reserve as the economy picked up.



Theresa takes charge as UK PM

Mrs May made only brief reference to the political quake - last month's dramatic referendum vote to leave the European Union - which triggered Mr Cameron's downfall. May campaigned for the leadership as a safe pair of hands, after spending six years as home secretary, one of the toughest jobs in British politics.



Russian Officials Hopeful for Warmer Relations After Johnson Appointment

While Osborne's exit came as less of a surprise, being a close Cameron aide, Johnson's appointment as foreign secretary was more unexpected. Germany's Die Welt said many initially thought the "bombshell" appointment was a joke, recalling that Johnson has compared the European Union to Adolf Hitler and likened Hillary Clinton to "a sadistic nurse in a mental hospital".