Politics

Britain's government is committed to doing whatever it can to keep its financial sector globally competitive after Brexit, financial services minister John Glen said on Tuesday. Britain is due to leave the European Union on Oct. 31 but it has yet to secure a divorce settlement with the bloc, the UK financial sector's single biggest customer. Uncertainty for finance has increased as a new British prime minister is being selected. Glen said there must be a "clear plan" to maintain...

Signs that arch-Brexiteer Boris Johnson may be a step closer to becoming Britain's next prime minister sent the pound tumbling to a five-month low versus the euro on Tuesday as investors worried about the risks of a hard exit from the European Union. The pound dived to 89.66 pence versus the euro, its lowest level since mid-January, before the outcome of a second round of voting in the Tory leadership contest that might cement Johnson's pole position among rivals. "Fears...

Conservative MP Dame Caroline Spelman says she will back Rory Stewart in the next round of votes, crediting him for his “realistic and positive vision for Britain”. Stewart has gained ground today after Paul Masterton, MP for East Renfrewshire, announced he was supporting the International Development Secretary just hours after creative industries minister Margot James backed him. Defence minister Tobias Ellwood also publicly supported Mr Stewart yesterday ahead of his lauded performance on the Channel 4 leadership debate in which...

Boris Johnson has boosted his campaign to replace Theresa May after former rival and EU supporter Matt Hancock backed him saying he was "almost certain to win the contest". Johnson, a former London mayor and foreign secretary, is way out in front in the race to become leader of the Conservative Party and despite so far deciding to steer clear of debates with his rivals, his popularity has yet to be dented. Most of the other five hopefuls concede that...

The UK Government stands to make more than £5million in profit by charging children who have fled from the terror of war-torn Syria for British citizenship applications, new research shows. Around 8,789 youngsters who have escaped the conflict in Syria have arrived in the UK since January 2014 under the Vulnerable Persons Resettlement Scheme (VPRS) and the Vulnerable Children Scheme (VCS). Currently, those who have made it to the UK are waiting for the required six-year term, which they must...

British companies look set to cut their investment by the most in 10 years in 2019 as the Brexit crisis drags on, weighing on future economic growth prospects, a survey showed on Monday. Business investment - key for productivity and pay growth - was forecast to fall by 1.3% this year before growing by only 0.4% in 2020, the British Chambers of Commerce said. The BCC nudged up its overall economic growth forecast for 2019 to 1.3%, reflecting a surge...

Rory Stewart has overtaken Jeremy Hunt into second favourite for leadership after a widely praised performance on last night’s Channel 4 debate. Bookies price Stewart at 12/1 with Hunt now languishing in third place at 21/1. Michael Gove is seemingly out of the running to make the top two with odds of 45/1, although Boris Johnson’s odds have shortened over the weekend from 2/7 to 1/6 despite his no-show last night. Betfair Spokesperson Katie Baylis said: “Failing a dramatic turn...

But Dominic Raab says he isn't so sure about the leadership hopeful.

Beijing has found its villain in its multi-fronted conflict with the United States: Secretary of State Mike Pompeo. The former CIA chief has been singled out for scorn, in Chinese state media and even at the foreign ministry, over his criticism of everything from Chinese tech giant Huawei to its record on human rights. During a regular media briefing on Monday, China's Foreign Ministry accused Pompeo by name of telling lies, a striking departure from its usual practice of referring...