Latest Liz Truss News

British pound stabilizes, but turmoil still roils UK economy

Sep. 27, 2022 13:18 PM EDT

LONDON (AP) — The British pound stabilized Tuesday as U.K. authorities tried to ease investor concerns after the biggest tax cuts in 50 years sent the currency tumbling to a record low and prompted some businesses to predict a devastating combination of a weak currency and rising interest rates....

UK Labour leader accuses government of trashing economy

Sep. 27, 2022 12:19 PM EDT

LIVERPOOL, England (AP) — The leader of Britain’s main opposition Labour Party accused the governing Conservatives on Tuesday of losing control of the economy, and promised to take the U.K. out of an “endless cycle of crisis” if his party regains power after more than a decade. ...

Bank of England fails to reassure markets after pound plunge

Sep. 26, 2022 13:53 PM EDT

LONDON (AP) — The Bank of England sought to reassure financial markets after the British pound touched an all-time low against the U.S. dollar Monday, but its entreaty fell flat for investors concerned about a sweeping package of tax cuts that further jolted a faltering economy that the...

The British pound has taken a tumble. What's the impact?

Sep. 26, 2022 12:22 PM EDT

LONDON (AP) — The pound is taking a pounding. The British currency has taken a plunge, sliding against the U.S. dollar to touch an all-time low. It's a sign of the alarm in financial markets over new Prime Minister Liz Truss' emergency budget measures unveiled last week aimed at...

'An inspiration': Tributes to UK's late queen at UN meeting

Sep. 26, 2022 08:36 AM EDT

UNITED NATIONS (AP) — This year's U.N. General Assembly meeting of world leaders came on the heels of another event that reverberated internationally — the death of Britain's Queen Elizabeth II, followed by both an outpouring of tributes and sometimes bitter reflection on the colonialist empire...

Labour conference starts with focus on 'immoral' tax cuts

Sep. 25, 2022 08:14 AM EDT

LONDON (AP) — Britain’s opposition Labour Party opened its annual conference Sunday, with leaders attacking the “immoral” tax-cutting of the new Conservative government. The event, this year taking place in the northern city of Liverpool, kicked off two days after the U.K...

Guest lineups for the Sunday news shows

Sep. 23, 2022 19:15 PM EDT

WASHINGTON (AP) — ABC’s “This Week” — National security adviser Jake Sullivan; Sen. John Barrasso, R-Wyo. __ NBC’s “Meet the Press” — Sullivan; Reps. Jamie Raskin, D-Md., and Nancy Mace, R-S.C. __ CBS’ “Face the...

UK cuts taxes, boosts spending, accelerating pound's slide

Sep. 23, 2022 13:29 PM EDT

LONDON (AP) — The United Kingdom's new government outlined plans Friday to cut taxes and boost spending in an effort to bolster the faltering economy, but the high-risk moves sparked concerns that increased public borrowing will worsen a cost-of-living crisis and sent the British pound on its...

Bank of England raises rates but avoids bolder hike like Fed

Sep. 22, 2022 10:54 AM EDT

LONDON (AP) — The Bank of England raised its key interest rate Thursday by another half-percentage point to the highest level in 14 years, but despite facing inflation that outpaces other major economies, it avoided more aggressive hikes made by the U.S. Federal Reserve and other central banks. ...

UK government lifts fracking ban despite opposition

Sep. 22, 2022 09:35 AM EDT

LONDON (AP) — The U.K. government confirmed Thursday that it's lifting a ban on fracking in England, arguing that the move will help boost the country's energy security amid Russia's war in Ukraine. Prime Minister Liz Truss announced within days of taking office earlier this month...