Politics

Britain's Chancellor of the Exchequer Philip Hammond warned contenders in the race to become prime minister that a no-deal Brexit could pull the United Kingdom apart and would deprive Britain's next leader of the money needed to end austerity. All four remaining candidates in the Conservative Party leadership contest have said they are prepared to take Britain out of the European Union without a transition deal to smooth the economic shock if necessary. Hammond, who supported staying in the EU...

Brexit risks are not priced in by bond markets and Britain's exit from the European Union could turn more bitter than expected, Anthony Linehan deputy director at Ireland's debt management agency warned on Wednesday. "To me (Brexit) is an area that isn't priced into markets and it can't be because no one knows what it looks like, even a hard Brexit," he said, speaking at a conference in London. "The one thing that worries me is, it's like a divorce,...

Dominic Raab has backed frontrunner Boris Johnson today, telling the Evening Standard newspaper he was the only candidate who would deliver Brexit by Oct 31st. "The only candidate who will now do this is Boris Johnson and so I'll be supporting him to become our next Prime Minister," he said. The former Foreign Secretary is far ahead of the rest of the pack, stretching a lead which, for many, makes Johnson the all but inevitable victor to replace Prime Minister...

U.S. President Donald Trump is refusing to cooperate with numerous congressional probes of himself and his administration, taking a defiant stance that is likely to result in a court battle with Democrats in the U.S. House of Representatives. Trump's stonewalling hardened after the mid-April release of a redacted report from Special Counsel Robert Mueller on how Moscow interfered in the 2016 U.S. presidential election in Trump's favour and his attempts to impede Mueller's probe. In most of the cases where...

What will the candidates vying to replace British Prime Minister Theresa May do about Brexit? May has resigned as Conservative Party leader, triggering a contest that will bring a new leader to power. Her successor's biggest task will be to take Britain out of the European Union - a job that requires finding an approach to Brexit that will be approved by parliament. Below are the remaining five Conservative lawmakers in the running and an overview of their Brexit plans....

 Rory Stewart, a contender to replace British Prime Minister Theresa May, said he is in talks with environment minister Michael Gove, a rival candidate, about teaming up. Boris Johnson, the frontrunner in the contest, won the most votes cast in the second round of voting to be leader of the Conservative Party. "We are talking about combining forces because it is clear that Boris is going into the last round and the question is who is best placed to sit...

A class A drug user walked free from court yesterday after the judge ruled he should “suffer no more for dabbling in cocaine” than Michael Gove. Judge Owen Davies QC upheld a legal argument with the defence that he should not be punished any more than the former Lord Chancellor. Gove, who is still in the running to become the next Prime Minister, has admitted to taking the drug at parties twenty years ago. Those caught in possession of a...

Airbus Chief Executive Guillaume Faury said on Wednesday there was a growing risk Britain would leave the European Union without a withdrawal deal in a way that could damage the aerospace firm's performance next year. "We have been very clear on the potential negative consequences of a hard Brexit or no-deal Brexit. We see that the likelihood of a no-deal Brexit is high and maybe growing," Faury said at an investor meeting coinciding with the Paris Airshow, adding it was...

Whitbread Plc said on Wednesday its first-quarter room revenue was hit by tough market competition and ongoing Brexit uncertainty, and the company was cautious about near-term conditions as it tries to build out its Premier Inn brand. Whitbread, which was originally a brewer, has focused on its hotel business after it sold Costa Coffee to Coca-Cola Co for 3.9 billion pounds ($4.90 billion) in a cash deal completed in early January. The company said total like-for-like revenue per available room...