NBC News reports that after Treasury Chief Kwasi Kwarteng promised the biggest tax cuts in 50 years on Sept.
23.
The British pound dropped to an all-time low against the American dollar on Sept.
26.
It fell to $1.0373 before reaching
$1.0672 in early London trading.
Since Sept.
23, the British pound has lost over 5% of its value against the U.S. dollar.
The drop comes as the government intends to spend 60 billion pounds, which it will borrow, .
To aid those who are struggling to pay high
energy bills caused by Russia's war with Ukraine.
To aid those who are struggling to pay high
energy bills caused by Russia's war with Ukraine.
Critics have called the move "reckless," but Kwarteng and Prime Minister Liz Truss believe that putting more money
into the pockets of Brits will spur economic growth.
Critics have called the move "reckless," but Kwarteng and Prime Minister Liz Truss believe that putting more money
into the pockets of Brits will spur economic growth.
Kwarteng said the government will reveal plans for reducing the U.K.'s debt in the coming months.
.
On Sept.
22, interest rates were raised by half a percentage point by Britain's central bank.
Liz Truss has described the blame she received over her mini-budget as "pathetic." Ms Truss was forced to stand down as prime minister in 2022 when her "mini budget" triggered a market meltdown. Speaking on stage at the Conservatives conference in Birmingham, the former prime minister said: "How on earth can we move forward as a country if people can't actually talk about the facts but instead throw insults around? I just think that's pathetic." Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The chief secretary to the Treasury says Rachel Reeves "chose investment over further decline", despite a hostile market response to the chancellor's Budget. Darren Jones adds Conservative ministers have been "dishonest" about the true state of the country's public finances. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Trump is reportedly considering Richard Grenell for the role of special envoy for the Russia-Ukraine conflict. Known for his diplomatic experience and controversial views, Grenell could play a crucial role in facilitating peace negotiations. He opposes Ukraine’s NATO membership and has advocated for "autonomous zones" in conflict areas. Trump’s plan includes halting Ukraine's NATO aspirations and establishing a freeze along the front line to advance a peaceful resolution.
#Trump #RichardGrenell #Ukraine #PeaceNegotiations #NATO #Grenell #UkraineConflict #SpecialEnvoy #DiplomaticRole #PeaceNegotiations #NATO #RussiaUkraine #SerbiaKosovo #ForeignPolicy #USDiplomacy #Oneindia #OneindiaNews
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The United Kingdom has issued a strong warning, declaring its military is prepared to join the fight against Russia “tonight” if Moscow escalates aggression in Eastern Europe. Lieutenant General Sir Rob Magowan assured the Commons Defence Committee of the British Army's readiness, stating that any Russian invasion would be met with immediate resistance. Amid growing tensions over Ukraine, where Kyiv has launched strikes using US-supplied Atacms missiles, and concerns about NATO's eastern flank, the UK has bolstered its presence in Estonia and remains committed to defending Europe. As fears of a broader conflict loom, the possibility of World War III grows ever more tangible.
#PutinVsNATO #UKMilitary #PutinOreshnikMissileStrike #WorldWarIII #RussianAggression #EasternEuropeConflict #NATOReadiness #UKDefense #RussiaInvasion #TensionsRising #GlobalConflict #UKArmy #NATOAlliance #DefendEurope #MilitaryAlert #NATOResponse
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As tensions escalate in Eastern Europe, U.S. officials have raised alarms about the growing military presence along the Russian-Ukrainian border. The Pentagon has warned that up to 50,000 troops, consisting of Russian forces and North Korean soldiers, are preparing to launch an offensive against Ukraine. According to U.S. Secretary of Defense Lloyd Austin, these troops are being integrated into Russian military units in the Kursk region, located near the border with Ukraine. Austin expressed concerns that these forces could soon be engaged in combat, signalling a dangerous escalation in the ongoing war. The buildup of these foreign troops, along with reports of Russia providing North Korea with oil, anti-aircraft missiles, and economic aid in exchange for military support, has raised fears of a significant intensification of hostilities. As the conflict continues to evolve, both Russia and North Korea have become increasingly intertwined in military strategy, with the possibility of further destabilising the region. Ukraine, still recovering from its initial offensives, remains on high alert as this new threat looms large.
#PutinsWWIII #RussianTroops #NorthKoreanTroops #UkraineConflict #USDefense #WorldWar3 #KurskRegion #RussianInvasion #MilitaryEscalation #UkraineWar #PutinWar #NorthKorea #EasternEuropeTensions #RussianAlliance #USResponse
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NATO and Ukraine are set to hold emergency talks after Russia attacked a military facility in the central Ukrainian city of Dnipro using an experimental, hypersonic ballistic missile.
Credit: euronews (in English) Duration: 01:05Published
Russia deployed a new Oreshnik hypersonic missile against a Ukrainian military factory, with Putin claiming it was a response to Ukraine's Western-supplied weapons. China called for restraint and peaceful resolution, while Zelensky demanded strong global action. Putin warned of potential escalation but remained open to negotiations, and the White House reaffirmed continued support for Ukraine.
#XiJinping #AFP #Oreshnik #RussiaUkrainewar #Ukrainewar #Ukrainelive #Aegis #NATORussiaWar #NATOnews #Ukrainewarlive #Worldnews #Warnews #War
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The two Foreign Ministers met in London a day after UK and French daily papers published a joint article in which they criticised the invasion of Ukraine and called for a ceasefire in Gaza.
Credit: euronews (in English) Duration: 01:00Published
A security incident at London’s Gatwick Airport prompted the evacuation of much of the South Terminal as authorities investigated. Passengers were urged to remain calm, with safety being prioritized. Simultaneously, London's Metropolitan Police conducted a controlled explosion near the US Embassy after discovering a suspicious package, closing nearby areas as a precaution. Both incidents heightened security concerns, with investigations ongoing and affected areas remaining cordoned off for public safety.
#GatwickAirport #LondonAirport #SouthTerminal #USEmbassy #LondonPolice #LondonNews #Worldnews #Oneindia #Oneindianews
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A “controlled explosion” has been carried out by Metropolitan Police officers outside the US embassy in Nine Elms, London. It comes after reports of a suspicious package outside the embassy. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Stocks Tumble , to New 2022 Low, , Enter Bear Market Territory.
On September 23, following a brutal week for
financial markets, stocks tumbled amid surging interest
rates and increased fears of a..
Credit: Wibbitz Top Stories Duration: 01:31Published