Author: Press Room

London CNN Business  —  Britain’s third prime minister in seven weeks will face the huge challenge of projecting stability after a period of historic political and financial market chaos. But their other task — shepherding the country through a recession — is poised to be just as daunting. Rishi Sunak emerged over the weekend as the clear front-runner in the dramatic race to replace Liz Truss, who’s set to be the shortest-serving prime minister in UK history. He could be confirmed as the next UK leader as early as 9 a.m. ET. The pound initially rose against the US dollar…

Former finance chief Rishi Sunak is the favorite to become the next prime minister of the U.K. after former PM Boris Johnson bowed out of the race Sunday night.Sunak, who was finance minister under Johnson and organized the effort to have him resign in July, is running on a policy of economic caution after PM Liz Truss’ administration was snuffed out last week. Sunak’s only remaining opposition is former defense minister Penny Mordaunt.Both candidates are required to have at least 100 backers within the Tory party by Monday afternoon in order to be considered for a wider vote. If both…

BANGKOK: Myanmar military air strikes on a concert held by a major ethnic rebel group killed around 50 people and wounded 70, the rebels said on Monday (Oct 24). “Around 8.40 pm on Sunday, two Myanmar military jets attacked” a ceremony the Kachin Independence Army (KIA) was holding, Colonel Naw Bu, told AFP. “Around 50 people were killed including KIA members and civilians,” he said, adding that around 70 were wounded. Local media reported that up to 60 soldiers and civilians had been killed. Images shared by local media purported to show the aftermath, with debris littering the ground. The…

At least 30 people were killed in an air strike during a concert held by an ethnic minority group in conflict with the ruling military, said opposition groups, residents and the media on Monday (Oct 24). The air strike late on Sunday in the northern state of Kachin, which the military has yet to confirm took place, killed civilians, prominent local singers, and officers of the Kachin Independence Army (KIA), media reported, citing witnesses who said the attack was carried out by three jets. A spokesperson for the junta could not immediately be reached for comment and Reuters could not…

Egan Bernal has confirmed that he would like to return to the Tour de France in 2023.The TdF 2019 and Giro d’Italia 2021 champion is continuing his comeback from a life-threatening crash suffered while training in his native Colombia in January last year.The 25-year-old raced at the Tour of Denmark and the Deutschland Tour in August this year as he ramps up his preparations for the 2023 season.CyclingForget Tour de France, Evenepoel should target Giro in 2023 – Nibali18/10/2022 AT 11:07He says his main ambition for next year is to be riding at the Tour after missing it in 2021…

Democrats’ slim majority in the House is at risk of vanishing after the upcoming midterm elections, and current House Speaker Nancy Pelosi is refusing to speculate on her future.In a Sunday interview with CBS’s “Face the Nation,” host Margaret Brennan asked Pelosi if she intends to remain in her party’s leadership in the next Congress, but the California Democrat refused to discuss the issue.”I’m not talking about that,” Pelosi said. “I’m here to talk about how we win the election.”Brennan pressed the issue, asking if that means Pelosi may or may not continue as a party leader. Pelosi would not…

As if Sunday night couldn’t get any worse for the Yankees, not long after they were swept out of the ALCS by the Astros, they got a glimpse of what might be in store for their future. Aaron Judge spoke and for the first time, talked about the Yankees in the past tense. “Getting the chance to wear the pinstripes and play right field at Yankee Stadium, that’s an incredible honor that I definitely didn’t take for granted at any point,’’ Judge said following the 6-5 loss at the Stadium. “Very few individuals get a chance to do that… and…

Mortgage advisor Victoria Lindsay was signed off work with severe anxiety but received regular check-up calls from her manager who warned her about posting pictures of cakes on Facebook A Brit has been awarded £22,000 after her boss rang her while she was off sick telling her not to post pictures of cakes on Facebook. Victoria Lindsay, who suffers from PTSD, was signed off work with severe anxiety. But the mortgage advisor continued to experience distress due to regular check-up calls from the manager, an employment tribunal heard. The HBOS manager, named only as Ms Jallow in the tribunal’s ruling,…

Even as warnings about a potential recession grow louder, the Bank of Canada is expected to announce another hefty interest rate hike on Wednesday, edging the bank closer to the end of one of the fastest monetary policy tightening cycles in its history. RBC senior economist Nathan Janzen says it’s a coin toss between the Bank of Canada choosing to raise its key interest rate by half a percentage point or three-quarters of a percentage point, though RBC is leaning toward the smaller increase.“It’s pretty clear that more aggressive interest rate hikes are still warranted,” Janzen said.Wednesday’s announcement would make…

Take a look at some of the biggest movers in the premarket:Tesla (TSLA) – Tesla fell 2.5% in the premarket after cutting Model 3 and Model Y prices in China by up to 9%. The price cuts come amid signs of softening demand in China. Chinese EV makers are also seeing their shares under pressure, with Nio (NIO), down 10.4%, XPeng (XPEV), losing 11.3% and Li Auto (LI), falling 10.3%.WeWork (WE) – The office-sharing company’s stock jumped 3.8% in the premarket after Cantor Fitzgerald rated it “overweight” in new coverage. Cantor notes that $2.7 billion in expenses have already been…