‘Difficult decisions’: Britain announces higher taxes and spending cuts

London CNN Business — The United Kingdom has already entered a recession and is battling decades-high inflation, eroding standards of living for millions of people across the country. Now, Britons must also stomach higher taxes and reductions to public services as the government tries to get its finances on more solid footing — underscoring the … Read more

UK budget: Britain is bringing back austerity. Here’s why

London CNN Business — The last time a British finance minister revealed tax and spending plans, markets went haywire and the country’s prime minister ultimately lost her job. The new government is not looking for a repeat performance. On Thursday, Chancellor Jeremy Hunt is due to unveil a budget that will aim to restore confidence … Read more

UK budget: Britain is bringing back austerity. Here’s why

London CNN Business — The last time a British finance minister revealed tax and spending plans, markets went haywire and the country’s prime minister ultimately lost her job. The new government is not looking for a repeat performance. On Thursday, Chancellor Jeremy Hunt is due to unveil a budget that will aim to restore confidence … Read more

America and Saudi Arabia are locked in a bitter battle over oil. The stakes are massive

New York CNN Business — The relationship between the United States and Saudi Arabia is one of the most important on the planet. And lately, it’s also been one of the most awkward. Angry officials in Washington vowed “consequences” after Saudi-led OPEC sharply cut oil production earlier this month, driving up pump prices just weeks … Read more

America and Saudi Arabia are locked in a bitter battle over oil. The stakes are massive

New York CNN Business — The relationship between the United States and Saudi Arabia is one of the most important on the planet. And lately, it’s also been one of the most awkward. Angry officials in Washington vowed “consequences” after Saudi-led OPEC sharply cut oil production earlier this month, driving up pump prices just weeks … Read more

Akshata Murty: Rishi Sunak’s wife is a software heiress who’s richer than royalty

CNN — NR Narayana Murthy, one of India’s richest people, had mixed feelings when he first heard about the man who would become his son-in-law. “I, too, was a little sad and jealous when you told us you had found your life partner,” he wrote to his daughter Akshata Murty in a letter, published in … Read more

5 things to know for Oct. 24: United Kingdom, RSV, Hurricane Roslyn, Trump, Diwali

CNN — NASA has a team in place that will begin a study today on unidentified aerial phenomena, commonly known as UFOs. The group of 16 people – consisting of astronomers, astrophysicists, biologists, former pentagon officials, and a former astronaut – will gather data on unidentifiable events in the sky and release its findings to … Read more

Democrats predict an ‘extremely busy’ lame duck. Here’s what’s on the agenda

CNN — A packed legislative to-do list awaits Congress when it returns to session after the midterms – and Democrats, who currently control both chambers, will face a ticking clock to enact key priorities if Republicans win back the House or manage to flip the Senate in the upcoming elections. Senate Majority Leader Chuck Schumer … Read more

Liz Truss was defeated by the bond market. Investors aren’t satisfied yet

London CNN Business — After a bruising three-week battle with bond markets, UK Prime Minister Liz Truss admitted defeat on Friday. She fired her finance minister and gutted her economic program by promising to reinstate a big tax hike on corporations. Truss said she acted in the national interest to ensure economic stability and to … Read more

Liz Truss is in big trouble after her biggest U-turn yet

London CNN — Liz Truss has sacrificed her finance minister and closest political ally just weeks into her premiership in order to save her own skin. On Friday morning, Britain’s Chancellor of the Exchequer, Kwasi Kwarteng, was summoned a day early back to London from the United States straight to Downing Street, where he was … Read more