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Politics

EU leaders tell Britain to exit swiftly, markets steadier

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LONDON/BRUSSELS European leaders told Britain on Tuesday to act quickly to resolve the political and economic confusion unleashed by its vote to leave the European Union last week, after the IMF said the uncertainty could put pressure on global economic growth. | Video

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At last EU summit, Cameron voices regret for Brexit 2:30am BST

BRUSSELS Outgoing Prime Minister David Cameron told European Union leaders on Tuesday that Britain's future relations with the bloc it voted last week to leave could hinge on the EU's willingness to rethink free movement of workers. | Video

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Expressing regret, Cameron says Britain will not turn back on EU 2:30am BST

BRUSSELS Expressing regret and sadness over Britain's decision to leave the European Union, Prime Minister David Cameron said on Tuesday the country would not turn its back on Europe and would instead build the strongest ties it could. | Video

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UK will need to raise taxes after EU vote - Osborne 28 Jun 2016

LONDON Britain will need to raise taxes and cut spending later this year to stabilise the public finances after last week's shock vote to leave the European Union, Chancellor George Osborne said on Tuesday. | Video

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Pensions Secretary Crabb says he will stand to replace Cameron - Politico website 28 Jun 2016

LONDON Britain's Work and Pensions Secretary Stephen Crabb, widely regarded as a rising star in the government, has declared he will stand as a candidate to replace Prime Minister David Cameron as leader of the Conservative Party, the Politico website said on Tuesday.

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'Brexiteer' Farage booed in rowdy EU parliament debate 28 Jun 2016

BRUSSELS Leading Brexit campaigner Nigel Farage was booed and heckled in a raucous special session of the European Parliament on Tuesday as he accused the EU of imposing a superstate on its citizens and predicted other countries would leave the bloc like Britain.

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'Why are you here?' Juncker asks Brexit lawmakers 28 Jun 2016

BRUSSELS European Commission President Jean-Claude Juncker asked lawmakers of Britain's UKIP on Tuesday why they had attended a European Parliament session to discuss the consequences of the British vote to leave the bloc.

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UK health secretary considering bid to replace Cameron as PM 28 Jun 2016

LONDON British Health Secretary Jeremy Hunt said on Tuesday he was seriously considering entering the race to succeed David Cameron as prime minister.

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Ratings agencies rip into UK's credit score after Brexit vote 28 Jun 2016

LONDON Britain suffered further blows to its economic standing on Monday as two top ratings agencies downgraded its sovereign credit score, judging last week's vote to leave the European Union would hurt its economy.

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Osborne rules himself out of race to succeed Cameron 28 Jun 2016

LONDON Chancellor George Osborne ruled himself out of the running to succeed Conservative Prime Minister David Cameron on Monday, citing his fierce advocacy of staying in the European Union.



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UK’s strong GDP has a soft centre

The headline - 0.8 percent second-quarter growth - sounds good. But construction shrank and industrial production was weak. Only services were strong. It sounds like a warning of future problems. Expectations of a UK interest rate rise may be delayed, leading the pound down.