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The team set to govern Britain under new PM Starmer
Keir Starmer leads Labour to victory in the 2024 election, forming a new government with key appointments like Angela Rayner as Deputy PM and Rachel Reeves as Chancellor of the Exchequer. The team aims to implement strategic policies for the country.
What we learned from the UK's general election that will shape politics over the coming years
The new government faces huge challenges, including fixing the country's sluggish economic and social malaise resulting in part from the U.K's exit from the European Union, the COVID-19 pandemic, the war in Ukraine and several Conservative Party scandals.
A NATO summit and mending EU relations are among first tasks for new UK leader Keir Starmer
British Prime Minister Keir Starmer has been appointed to a new government after a six-week election campaign. Starmer, who has never served in or led a government, has a plethora of lawmakers to choose from, including Treasury chief Rachel Reeves and the new foreign secretary David Lammy. He wants Britain to take a larger role on the global stage after years of soured relations with Europe over Brexit and the inward-looking U.K. political soap opera that followed.
London midcaps touch more than two-year highs as Labour Party returns to power
The FTSE 250 index reached a two-year high and experienced its best week since January 22, boosted by investor enthusiasm for Keir Starmer's ambitious plan to build 1.5 million new homes in the UK. British homebuilding companies led the gains on the FTSE 100 as the index inched closer to the 21,000 mark.
Dollar at three-week lows; pound takes UK election in stride
The US dollar nears three-week lows awaiting payrolls data impact, while the pound remains strong amid UK election expectations. Euro stable pre-French election. Yen rebounds cautiously. Australian dollar near six-month highs. Bitcoin slightly down.
Rupee nudges up on lower US bond yields, forward premiums rise
Pressure on the yen and yuan had kept Asian currencies on the defensive over recent trading sessions but soft U.S. economic data on Wednesday helped ease the depreciation pressure.
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European shares advance on rate optimism; UK elections in focus
European shares rose Thursday due to Fed rate cut prospects, weak U.S. data, and Labour gains. FTSE 100 rose by 0.5%, STOXX 600 by 0.3%, led by banks and Continental's 9.6% rise. German industrial orders fell 1.6% in May. Roche fell 2.3% after halting a lung cancer drug trial. Ericsson slipped 1.5% after 11.4 billion crown impairment charge.
Dollar on the defensive after soft data, little relief for yen
Currency markets react to global economic trends, with sterling potentially shifting leadership from Rishi Sunak to Keir Starmer in the UK.
Gold gains on softer dollar ahead of US Fed minutes
Gold prices strengthened on Wednesday as the dollar eased after dovish comments from Federal Reserve Chair Jerome Powell, with investors now turning to minutes from the U.S. central bank's latest policy meeting to gauge future interest rate cuts.
Who are the main players in the UK's upcoming national election?
Prime Minister Rishi Sunak's Conservatives are widely expected to lose to the main opposition party, the left-of-center Labour, after 14 years in power under five different prime ministers. The Conservatives and Labour traditionally dominate British politics under the U.K.'s "first past the post" electoral system, which makes it difficult for smaller parties to win representation in Parliament.
Britain's Rishi Sunak struggles with missteps while trying to lift Conservatives ahead of elections
British Prime Minister Rishi Sunak has faced scrutiny over his political instincts during the general election campaign, which started five weeks ago. His actions have not always reflected the seasoned touch of past leaders like Tony Blair or Boris Johnson, evidenced by some notable campaign missteps.
Brent rises toward $86 as cooling US jobs market buoys rate cut hopes
Oil futures hit a seven-week high on Thursday as fresh data on a cooling U.S. jobs market added to hopes that the Federal Reserve could still cut interest rates this year.
Gold rises 1% to two-week peak as Fed rate cut bets lift demand
Gold prices rose more than 1% on Thursday to their highest level in two weeks, as recent U.S. economic data showing signs of a slowdown in the world's largest economy boosted bets for interest rate cuts from the Federal Reserve this year.
How labour party’s election vows stack up for UK markets
Labour party unveils manifesto to control debt, boost homebuilding, and upgrade infrastructure. UK stocks and sterling rally ahead of election.
Sensex, Nifty hit fresh lifetime highs on positive global cues after Fed outcome, US inflation print
Sensex and Nifty50 opened at a record high on Thursday following gains, driven by global stocks and a favorable U.S. inflation report.
Rupee ends lower on jump in US bond yields, RBI intervention caps losses
The Indian rupee ended weaker on Monday, weighed down by a rise in U.S. bond yields, but likely intervention by the Reserve Bank of India (RBI) helped limit the currency's losses.
Asia shares stumble; political uncertainty grips euro
Asian stocks fell as traders reduced bets for Fed rate cuts due to a tight US labor market. A snap election in France raised political concerns, impacting the euro. MSCI's Asia-Pacific shares index also dropped.
Modi 3.0 has heavy lifting to do on tax reforms to managing stock risks
Economists outline key priorities for India's incoming government, emphasizing the need for growth, job creation, and macro stability. Pronab Sen highlights the importance of sustainable livelihoods, while Pranjul Bhandari suggests that 'easy' reforms could maintain 6.5% growth. However, achieving 70 million jobs requires politically sensitive reforms in agriculture, labor, and land. Additional recommendations include infrastructure investment, judicial reforms, enhancing export competitiveness, and further tax reforms, particularly bringing petroleum and power under GST.
Asia stocks rally as rate cut bets gather momentum; ECB in focus
Asian shares rose on Fed rate cut expectations and ECB meeting. Oil prices climbed, Treasury yields fell. Asia-Pacific shares outside Japan gained 1.14%, led by tech stocks.
Cryptocurrency prices on June 5: Bitcoin rises 3% to above $71,000 on Fed rate cut expectation
Bitcoin price surged by 3% to $71,000 in the last 24 hours, driven by expectations of a Federal Reserve rate cut in September following soft U.S. job openings data. Ethereum reached $3,807 and altcoins like BNB and Solana also saw significant increases.
European shares rebound tracking global sentiment on soft US jobs data
European shares opened higher on Wednesday, mirroring global sentiment as a soft U.S. labour market data firmed bets of a rate cut from the Federal Reserve, ahead of the European Central Bank's key rate verdict later this week.
Sterling hits fresh 2-month high versus dollar ahead of inflation data
German inflation figures will be released on Wednesday and the wider euro zone's reading on Friday, along with the U.S. core personal consumption expenditures (PCE) price index - the Federal Reserve's preferred measure of inflation.
Sometimes U.S. and U.K. politics seem in lockstep. Not this year.
British Prime Minister Rishi Sunak has called an early general election for the UK, announcing that he does not expect Britain's economic news to improve between now and the fall. The election is expected to be held on July 4, as the US political calendar has not played a significant role in the outcome.
Asian stocks ease on uncertainty over timing of U.S. rate cuts
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.14% after touching a two-year high on Thursday. The index was still set for an increase of 2.6% this week for its fourth straight week of gains.
Dollar slips as market awaits key inflation data
The dollar slid versus most major currencies on Monday amid expectations key U.S. data this week will show a slowing pace of inflation and consumer spending at a time of recovering European economies that also could be bolstered by interest rate cuts.
Gold edges higher as markets count on Fed rate-cut hopes
Financial markets expect the U.S. central bank to start its easing cycle in September. Lower interest rates reduce the opportunity cost of holding gold.
Rupee closes little changed, logs slight weekly decline
The Indian rupee closed nearly flat on Friday, tracking subdued moves in its Asian peers and as expectations of the central bank's intervention blunted the pressure of dollar demand from local oil companies and foreign banks.
Asia stocks rally on renewed global rate cut optimism
Sterling was steady at $1.2515, having touched over two-week low of $1.2446 on Thursday after Bank of England (BoE) paved the way for the start of rate cuts as soon as next month.
Gold set for weekly gain on US rate-cut hopes
Financial markets expect the Fed to start its easing cycle in September. Lower interest rates reduce the opportunity cost of holding gold.
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