UK

Britain's ultra-wealthy new Prime Minister Rishi Sunak and his family plan to live in the flat above number 10 Downing Street, despite owning a string of luxury properties including one in London.

British Prime Minister Rishi Sunak on Wednesday postponed an eagerly awaited budget plan due next week, as the youthful new leader got down to business after weeks of political turmoil.

Rishi Sunak will on Wednesday face off against opposition lawmakers for the first time as British prime minister, in a likely raucous parliamentary session following weeks of political turmoil.

Rishi Sunak said on Tuesday he was not daunted by the scale of the challenge as he became Britain's third prime minister in two months, pledging to restore trust, rebuild confidence and lead the country through an economic crisis.

Makers of metals, chemicals and gases said on Tuesday that the outlook for the final months of the year had worsened as concerns intensify that a surge in energy and raw material costs will shrink Europe's heavy industry.

Rishi Sunak on Tuesday became Britain's third prime minister this year and the first person of colour to lead the former imperial power, vowing to overcome a "profound" economic crisis he blamed on the "mistakes" of Liz Truss's calamitous 49-day tenure.

European stocks and the pound climbed Monday as markets awaited confirmation that former finance minister Rishi Sunak would become Britain's new prime minister.

Elected for the first time to parliament in 2015, Rishi Sunak became Britain's youngest prime minister in more than 200 years on Monday, tasked with steering the country through an economic crisis and mounting anger among some voters.

Britain's next prime minister, former finance chief Rishi Sunak, inherits a UK economy that was headed for recession even before the recent turmoil triggered by Liz Truss.

British shoppers cut their spending sharply last month and their confidence is close to record lows, underscoring the challenge facing the next prime minister who must also take painful measures to slow fast-rising public borrowing.

Boris Johnson and his former finance minister Rishi Sunak were leading potential contenders to replace British Prime Minister Liz Truss on Friday, with candidates canvassing support to become Conservative Party leader in a fast-tracked contest.

UK government borrowing surged and retail sales slumped in September, official data showed Friday.

Out of power for a matter of months, comeback king Boris Johnson is once again being touted as the new leader of the governing Conservative Party and Britain's prime minister.

A curb on "dark" or off-exchange trading of shares in the European Union should be completely removed to compete better with Britain, EU documents seen by Reuters showed on Friday.

The S&P 500 index was set to open lower on Thursday after the resignation of Liz Truss as prime minister of the UK added a layer of uncertainty to markets struggling to hold on to gains from a set of positive earnings forecasts from U.S.

Prime Minister Liz Truss resigned Thursday following a failed tax-cutting budget that rocked financial markets and which led to a revolt within her own Conservative Party.

Embattled British Prime Minister Liz Truss on Thursday acknowledged a "difficult day" after a key minister resigned and MPs rebelled.

British Prime Minister Liz Truss insisted she would not quit on Wednesday as she faced questions from booing MPs at her first Question Time session since abandoning her disastrous tax-slashing economic policies.

British inflation jumped back above 10 percent in September on soaring food prices, official data showed Wednesday.

European Union leaders meeting this week are set to endorse the bloc's latest proposals to curb energy prices, but pressure Brussels to go further and cap the price of gas used in power generation, according to a draft of their meeting conclusions.

British Foreign Secretary James Cleverly said on Wednesday the treatment of a protester seen being pulled into the grounds of a Chinese consulate and beaten was "unacceptable" while the Consul-General said demonstrators had stormed its grounds.