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Sunak, Biden reaffirm US-UK ‘special relationship’: Live Updates

British Prime Minister Rishi Sunak waves as he arrives to deliver a press statement at 10 Downing Street, in London on Tuesday. He was appointed as new UK's PM by King Charles III at Buckingham Palace. (Reuters)Premium
British Prime Minister Rishi Sunak waves as he arrives to deliver a press statement at 10 Downing Street, in London on Tuesday. He was appointed as new UK's PM by King Charles III at Buckingham Palace. (Reuters)

  • UK PM Live: Rishi Sunak has won the race to be leader of the Conservative Party and will become Britain’s next prime minister — the third this year.

British politician Rishi Sunak was Monday elected Conservative leader and has become the next prime minister, after being invited to form government by King Charles III. Rival Penny Mordaunt failed to secure the necessary 100 nominations from her fellow MPs, following which she backed out on Monday paving the way for Sunak to become the first Indian-origin Prime Minister of United Kingdom.

"Rishi Sunak is therefore elected as leader of the Conservative Party," senior backbencher Graham Brady said, as Mordaunt vowed her "full support" for the former finance minister.

26 Oct 2022, 07:47:39 AM IST

Sunak to face opposition MPs in parliament today

After several weeks of political unrest, British Prime Minister Rishi Sunak will square off with opposition MPs in parliament for the first time on October 26.

26 Oct 2022, 07:15:34 AM IST

Sunak, Biden reaffirm US-UK ‘special relationship’

Rishi Sunak and US President Joe Biden “reaffirmed the special relationship between our countries, underscoring their desire to further enhance cooperation on issues critical to global security and prosperity," the White House said.

26 Oct 2022, 06:16:04 AM IST

Will unite our country: Sunak

“I will unite our country, not with words, but with action. I will work day in and day out to deliver for you," Rishi Sunak earlier said in his speech.

26 Oct 2022, 05:49:46 AM IST

US, UK closest of allies: Sunak

"The United States and the United Kingdom are the closest of allies," Sunak tweeted. "I look forward to working together with @POTUS to enhance stability across the world and continue our leading role in support of the people of Ukraine."

26 Oct 2022, 05:30:36 AM IST

Will always stand with Ukraine: Sunak

25 Oct 2022, 10:40:42 PM IST

Ben Wallace  is ‘grateful to to lead Defence again'

Ben Wallace was retained as the Defence Minister for Britain. Wallace took to Twitter to say, “It is a privilege to have the opportunity to lead Defence again. I am very grateful to the new Prime Minister for appointing me, and I look forward to working with @RishiSunak to deliver a safe and prosperous United Kingdom. @DefenceHQ"

25 Oct 2022, 10:19:52 PM IST

Johnson loyalist Grant Shapps made Business Secretary

Grant Shapps, a longtime Johnson loyalist who had briefly replaced Braverman at the interior ministry and backed Sunak in the latest leadership contest, was named business secretary.

25 Oct 2022, 10:17:06 PM IST

Penny Mordaunt made Leader of the House of Commons

Penny Mordaunt, who withdrew from the race Monday after failing to secure enough Tory MPs' support, as Leader of the House of Commons.

The role -- which oversees government business in parliament -- is neither a promotion nor demotion, but may disappoint Mordaunt, who had been tipped for more senior roles such as foreign secretary.

Penny Mordaunt, who has been appointed Britain's Lord President of the Council and Leader of the House of Commons, walks outside Number 10 Downing Street, in London, Britain, October 25, 2022. REUTERS/Henry Nicholls
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Penny Mordaunt, who has been appointed Britain's Lord President of the Council and Leader of the House of Commons, walks outside Number 10 Downing Street, in London, Britain, October 25, 2022. REUTERS/Henry Nicholls (REUTERS)
25 Oct 2022, 09:33:57 PM IST

Suella Braverman returns as home secretary

“The Rt Hon Suella Braverman KC MP @SuellaBraverman has been appointed Secretary of State for the Home Department @UKHomeOffice", the 10 Downing Street announced. 

25 Oct 2022, 09:03:06 PM IST

James Cleverly, Ben Wallace re-appointed 

“The Rt Hon James Cleverly MP @JamesCleverly has been re-appointed Secretary of State for Foreign, Commonwealth and Development Affairs @FCDOGovUK"

Further Ben Wallace has also been reappointed defence secretary, 10, Downing Street annoounced.  

25 Oct 2022, 08:56:49 PM IST

‘Tough times ahead’: Jeremy Hunt as new finance min of UK

Jeremy Hunt was re-appointed as British finance minister by Rishi Sunak on Tuesday, said the government would work to restore stability, confidence and long-term growth, while acknowledging a tough time lay ahead.

“Honoured to serve our country, and @RishiSunak , as Chancellor of the Exchequer. It is going to be tough. But protecting the vulnerable - and people's jobs, mortgages and bills - will be at the front of our minds as we work to restore stability, confidence and long-term growth."

25 Oct 2022, 08:42:46 PM IST

Dominic Raab made deputy Prime Minister

UK PM Rishi Sunak makes close ally Dominic Raab deputy PM and justice secretary

25 Oct 2022, 07:31:08 PM IST

Pound up 1% against dollar after Sunak takes over as PM

The pound rose more than one percent against the dollar on Tuesday after Rishi Sunak took office as Britain's prime minister, AFP reports.

The pound was up 1.2% to $1.1411, and up 0.7 percent against the euro to 87.64 pence.

Notably, the cost of government borrowing dropped as ministers appointed by former prime minister Liz Truss resigned en masse. 

25 Oct 2022, 07:24:52 PM IST

US Prez Joe Biden congratulates  UK PM Rishi Sunak

US President Joe Biden said that he looks forward to continuing the UK-US relationship in supporting Ukraine. 

“Congratulations to Rishi Sunak on becoming Prime Minister of the United Kingdom. Together, I look forward to enhancing our cooperation on issues critical to global security and prosperity, including continuing our strong support for Ukraine."

25 Oct 2022, 07:21:46 PM IST

Alok Sharma removed from UK cabinet, remains COP26 President

Reports have stated that Alok Sharma has been removed from the UK Cabinet, as Rishi Sunak readies his new government. However, Sharma will continue to remain the President of COP26 and will negotiate on behalf of the UK at COP27

25 Oct 2022, 06:50:45 PM IST

Rishi Sunak sports 'Kalawa' thread during his 1st speech as UK PM 

UK's new Prime Minister Rishi Sunak was seen wearing the sacred red Hindu 'Kalawa' thread during his first speech at 10 Downing Street.

Mouli or Kalawa is a cotton red thread roll, considered to be very sacred and used for all religious purposes of the Hindus. The thread is used as an offering of cloth to the deity. The Mouli thread is an integral part of any puja.

Britain's new Prime Minister Rishi Sunak waves outside Number 10 Downing Street, in London, Britain, October 25, 2022. REUTERS/Peter Nicholls     TPX IMAGES OF THE DAY
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Britain's new Prime Minister Rishi Sunak waves outside Number 10 Downing Street, in London, Britain, October 25, 2022. REUTERS/Peter Nicholls TPX IMAGES OF THE DAY (REUTERS)
25 Oct 2022, 05:51:34 PM IST

Jeremy Hunt retained as Finance Minister

UK Prime Minister has confirmed that Jeremy Hunt will be retained as the Finance Minister of his new cabinet. 

Jeremy Hunt had been appointed as Finance Minister during Liz Truss' government

25 Oct 2022, 05:47:38 PM IST

Sunak's cabinet overhaul begins; UK business secretary quits

Business Secretary Jacob Rees-Mogg and Justice Secretary Brandon Lewis both quit their cabinet roles on Tuesday as Sunak began an overhaul of his top ministerial team.

25 Oct 2022, 05:17:14 PM IST

'EU counts on strong relationship': Prez Ursula von der Leyen to Sunak

The president of the European Commission Ursula von der Leyen has also tweeted her congratulations to Rishi Sunak.

“In these testing times for our continent, we count on a strong relationship with the U.K. to defend our common values, in full respect of our agreements," she added.

25 Oct 2022, 05:14:11 PM IST

Ukraine President congratulates UK PM Rishi Sunak

Ukraine’s president Volodymyr Zelenskiy congratulated  Rishi Sunak. The Ukraine President added that he hopes the new UK PM will successfully overcome “all the challenges facing British society and the world today".

"Congratulations to @RishiSunak on taking office as 🇬🇧 Prime Minister! I wish you to successfully overcome all the challenges facing British society and the whole world today. I’m ready to continue strengthening the 🇺🇦-🇬🇧 strategic partnership togeether!

25 Oct 2022, 04:46:34 PM IST

Boris Johnson extends support to Rishi Sunak

Former British leader Boris Johnson congratulated Rishi Sunak on his appointment as prime minister on Tuesday, urging Conservative Party colleagues to give Sunak their full support.

“Congratulations to @RishiSunak on this historic day, this is the moment for every Conservative to give our new PM their full and wholehearted support." Boris Johnson wrote on Twitter

25 Oct 2022, 04:39:41 PM IST

"Will not leave next generation with a debt' Sunak

Rishi Sunak in his first address as Prime Minister of Britain said that he would not 'leave the next generation in debt. 

“But you saw me during Covid doing everything I could to protect people and businesses with schemes like furlough. There are always limits more so now than ever. But I promise you this I will bring that same compassion to the challenges we face today."

“The government I lead will not leave the next generation, your children and grandchildren, with a debt to settle that we were too weak to pay ourselves." he added. 

“I will unite our country not with words, but with action. I will work day in and day out to deliver for you. This government will have integrity, professionalism, and accountability at every level."

British Prime Minister Rishi Sunak delivers a speech at 10 Downing Street in London, Tuesday, Oct. 25, 2022. New British Prime Minister Rishi Sunak arrived at Downing Street Tuesday after returning from Buckingham Palace where he was invited to form a government by Britain's King Charles III. (AP Photo/Alastair Grant)
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British Prime Minister Rishi Sunak delivers a speech at 10 Downing Street in London, Tuesday, Oct. 25, 2022. New British Prime Minister Rishi Sunak arrived at Downing Street Tuesday after returning from Buckingham Palace where he was invited to form a government by Britain's King Charles III. (AP Photo/Alastair Grant) (AP)
25 Oct 2022, 04:33:45 PM IST

I will put public's need above politics: Sunak

Rishi Sunak says he has accepted an invitation from King Charles III to form new government in his first address as UK Prime Minister. 

He further went ahead to say that he will prioritize ‘public needs above politics’. 

“Right now, our country is facing a profound economic crisis. The aftermath of Covid still lingers and the war in Ukraine has destablished markets the world over." Sunak added.

He said Liz Truss was right to want to improve growth. That was a “noble aim". He admired her “restlessness".

But mistakes were made, he added.

He says he has been elected PM to “fix" those mistakes.

British Prime Minister Rishi Sunak delivers a speech at Downing Street in London, Tuesday, Oct. 25, 2022. New British Prime Minister Rishi Sunak arrived at Downing Street Tuesday after returning from Buckingham Palace where he was invited to form a government by Britain's King Charles III. (AP Photo/Alastair Grant)
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British Prime Minister Rishi Sunak delivers a speech at Downing Street in London, Tuesday, Oct. 25, 2022. New British Prime Minister Rishi Sunak arrived at Downing Street Tuesday after returning from Buckingham Palace where he was invited to form a government by Britain's King Charles III. (AP Photo/Alastair Grant) (AP)
25 Oct 2022, 04:25:30 PM IST

Sunak appointed PM, First Lord of the Treasury: Britain's Royal Family 

The British Royal Family's official Twitter account also announced Rishi Sunak as the next Prime Minister of Britain. 

“The King received The Rt Hon Rishi Sunak MP at Buckingham Palace today. His Majesty asked him to form a new Administration. Mr. Sunak accepted His Majesty's offer and was appointed Prime Minister and First Lord of the Treasury" the tweet read

25 Oct 2022, 04:07:38 PM IST

Rishi Sunak becomes British prime minister

Rishi Sunak has become British prime minister after being asked to form a government by King Charles III.

25 Oct 2022, 04:03:41 PM IST

Kremlin says ‘no hope’ post Sunak's nomination

The Kremlin said Tuesday that Moscow believes there is "no hope" of improving diplomatic ties with London after the nomination of Rishi Sunak as British Prime Minister.

"At the moment, we do not see any preconditions, grounds, or hope that in the foreseeable future there will be any positive changes" in the relationship between the United Kingdom and Russia, Kremlin spokesman Dmitry Peskov said during his daily briefing.

25 Oct 2022, 03:48:44 PM IST

Sunak arrives at Buckingham Palace to meet King Charles III

Rishi Sunak arrives at Buckingham Palace to meet King Charles III to be anointed Britain's first Indian-origin Prime Minister

25 Oct 2022, 03:07:19 PM IST

Liz Truss wishes Rishi Sunak 'every success'

Britain's outgoing Prime Minister Liz Truss, in a farewell speech from Downing Street, wished her successor Rishi Sunak "every success" on Tuesday as she extolled some achievements of her time in power.

"We continue to battle through a storm but I believe in Britain, I believe in the British people and I know that brighter days lie ahead," she said, before heading to Buckingham Palace to formally resign.

Outgoing British Prime Minister Liz Truss speaks outside Downing Street in London, Tuesday, Oct. 25, 2022. Former Treasury chief Rishi Sunak is set to become Britain's first prime minister of color after being chosen Monday to lead a governing Conservative Party desperate for a safe pair of hands to guide the country through economic and political turbulence. (AP Photo/Alberto Pezzali)
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Outgoing British Prime Minister Liz Truss speaks outside Downing Street in London, Tuesday, Oct. 25, 2022. Former Treasury chief Rishi Sunak is set to become Britain's first prime minister of color after being chosen Monday to lead a governing Conservative Party desperate for a safe pair of hands to guide the country through economic and political turbulence. (AP Photo/Alberto Pezzali) (AP)
25 Oct 2022, 02:32:22 PM IST

'Ground breaking': US Prez Biden on Rishi Sunak becoming UK PM

US President Joe Biden calls UK PM designate Rishi Sunak's election as 'ground breaking'. He also extended Diwali wishes to all Indian Americans.

25 Oct 2022, 01:39:23 PM IST

Rishi Sunak's wife Akshata earned ₹126.6 cr dividend income from Infosys in 2022

Akshata Murty, wife of Britain's incoming Prime Minister Rishi Sunak, earned 126.61 crore (USD 15.3 million) in dividend income in 2022, from her shareholding in India's second-largest IT firm Infosys.

Murthy, daughter of Infosys co-founder Narayana Murthy, held 3.89 crore shares, or 0.93 per cent, of Infosys at the end of September, according to company filings with the stock exchanges.

Her holding is worth 5,956 crore (about USD 721 million) at Tuesday's trading price of 1,527.40 on the BSE.

Infosys paid 16 per share final dividend for the 2021-22 fiscal on May 31, this year. For the current year, the firm this month announced an interim dividend of 16.5, according to the company's stock exchange filings.

The two dividends totaled 32.5 per share or 126.61 crore for Akshata.

Infosys is among the best dividend-paying companies in India. In 2021, it paid a total of 30 per share dividend, which would have given Akshata a total of 119.5 crore in that calendar year.

25 Oct 2022, 01:17:43 PM IST

Rishi Sunak’s religious identity under radar as Christian UK gets first Hindu prime minister

Rishi Sunak did not hold back from embracing his roots when he was appointed finance minister of Britain and took an oath by placing his hands on the Bhagavad Gita. According to Sunak, even though he is currently a British citizen, he practises Hinduism. He says his ethnicity is Indian, both religiously and culturally. He earlier proclaimed his Hindu identity with pride.

“A Hindu Prime Minister is now responsible for advising King Charles on appointments to the Church of England. Britain is dead," said Collin Pruett, Operations Associate at The American Conservative, who thinks “Charles III should depose Parliament. Read more here

25 Oct 2022, 12:50:17 PM IST

Rishi Sunak as prime minister must aim to keep UK globally competitive: HSBC CEO

Rishi Sunak becoming Britain's next prime minister will help stabilise markets after a period of turmoil, but his new team should ensure it is focused on keeping London competitive as a global financial centre, the CEO of lender HSBC said.

Sunak has said the country faces a "profound economic challenge", after being chosen by the ruling Conservative party to lead the country. He is set to be appointed prime minister by King Charles later on Tuesday.

Sunak will be tasked with rebuilding Britain's financial credibility, after his predecessor Liz Truss triggered a crisis of investor confidence with plans for vast unfunded tax cuts.

"We're very pleased that there has been a decision taken on the UK Prime Minister position, that now allows the markets to stabilise as you can see in the way the markets reacted yesterday, that's positive," HSBC CEO Noel Quinn told Reuters, after the bank posted third quarter earnings.

25 Oct 2022, 12:19:08 PM IST

Unite or die: Rishi Sunak after being selected by Tory MPs

Immediately after being selected by Tory MPs, he ruled out an early general election and warned his party they had to "unite or die". "UK is a great country but we face a profound economic challenge. We now need stability and unity and I will make it my utmost priority to bring our party and country together as that's the only way we will overcome challenges and build a better future for our children and grandchildren," said Sunak.

25 Oct 2022, 12:01:46 PM IST

Asian Britons celebrate 'proud moment' as Rishi Sunak takes on top job

Out on Southall High Street, pensioner Asma Choudry said she had been living in Britain for 42 years. "So it’s a long time ... Anything can happen, you know, when you are living in a multicultural society."

“Yeah it’s a proud feeling as an Indian, I like him," said 25-year-old businessman Rishabh Sharma.

Further afield, Sunak's ascent drew admiring comments from across the English Channel - a rare thing since Brexit.

"It’s worth noting Sunak will be the first British prime minister of Asian descent. I find it fascinating that it doesn’t seem to cause any problem in Britain," a senior European diplomat told Reuters. "Let’s imagine the same situation in France or Germany. It’d be much more complicated. I find this remarkable."

In Britain, recognition even reached across political divides. Anas Sarwar, leader of the opposition Labour Party in Scotland, tweeted that it was important to mark the significance of the moment. "It’s not something our grandparents would ever have imagined when they made the UK home," he wrote.

Rishi Trivedi, 50, a chartered accountant and Conservative Party member from West Drayton in west London, said he was "happy beyond belief", though worried that wealthy Sunak might lack the common touch. "He's part of the global elite ... He's not an ordinary person who goes to work and faces the problems which I face."

Jignesh Patel, a 49-year-old mural painter and another Conservative Party member from nearby Hounslow, just saw "a proud moment" and a potential turning point. "As Indians ... we are peaceful people, we come here, we do our job, we pay taxes, we earn money. But we are very far from politics from some reason," he said. "I truly believe the time has come for Indians to be part of politics, no matter the ideology. If we have a problem, we can't just complain. We need to be part of the solution too."

25 Oct 2022, 11:47:05 AM IST

Rishi Sunak’s ‘Coke addiction’: 5 controversies of UK’s new prime minister

Upon assuming office as prime minister on October 25, Rishi Sunak promises to work hard for Britain, according to his father-in-law Narayana Murthy. The 42-year-old, a devout Hindu with Indian ancestry, will be the UK’s first prime minister of colour and its youngest head of state in modern times. The Infosys founder said, “"We are proud of him and we wish him success. We are confident he will do his best for the people of the United Kingdom. Read more here

25 Oct 2022, 11:20:12 AM IST

Netizens congratulate Ashish Nehra after Rishi Sunak becomes UK PM

A meme fest was sparked on social media, soon after Britain's conservative party leader Rishi Sunak became the first Indian-origin Prime Minister of the United Kingdom on Monday.

Some Twitter users started posting former Indian cricketer Ashish Nehra's picture with congratulatory messages for Sunak on social media as they thought Sunak resembled Nehra.

25 Oct 2022, 10:55:59 AM IST

Watch: Rishi Sunak’s full speech after becoming UK PM-designate

25 Oct 2022, 10:52:31 AM IST

UK political stability won’t stop winter from biting

A sense of normality is creeping back into UK politics after Rishi Sunak’s nomination by the Conservative Party as the next prime minister. But the enormity of the financial task ahead has not diminished. What the government does next on the fiscal front will determine how much higher the Bank of England feels it has to push interest rates — and how much economic pain businesses and consumers face this coming winter.

Sunak’s appointment has been welcomed by financial markets as promising political stability, after Liz Truss’s disastrous dash for growth via unfunded tax cuts trashed the pound and sent government bond yields soaring in the past month. 

At the height of the recent crisis, bond investors were set to charge the UK as much as £20 billion extra in annual interest costs. 

Yields may still be more than double where they started this year, but Britain no longer looks like a market pariah relative to its US and European peers.

Importantly, with the government no longer playing fast and lose with fiscal policy, traders have scaled back their expectations for how much tightening the UK central bank will feel is needed. (Bloomberg)

25 Oct 2022, 10:29:30 AM IST

Former Karnataka CM H D Kumaraswamy congratulates Rishi Sunak

Former Karnataka Chief Minister H D Kumaraswamy has congratulated Rishi Sunak. "Hearty congratulations to Sri @RishiSunak, senior Conservative party leader & Britain’s Prime Minister elect. He is connected to our Karnataka. I am overwhelmed with the election of Sri Rishi Sunak, son-in-law of Infosys founder Sri N R Narayanamurthy & Smt Sudha Murty," Kumaraswamy tweeted.

"I am confident that Sri Rishi Sunak will effectively lead Britain & help to bring its economy back on track," he added.

25 Oct 2022, 10:26:18 AM IST

Coal and Mines Minister Pralhad Joshi congratulates Rishi Sunak

Union Minister for Coal and Mines Pralhad Joshi said, "I feel it is a proud moment because Rishi Sunak hails from India. I wish him every success."

25 Oct 2022, 09:52:11 AM IST

Asian stocks ease to 2-1/2-year lows, pound lifted by Sunak's victory

Asian equities fell to new 2-1/2-year lows on Tuesday as early gains inspired by a rally on Wall Street on hopes the Federal Reserve could be nearing the end of aggressive rate increases were offset by weakness in Chinese shares and the yuan.

The U.S. dollar eased against major peers, while the sterling took aim at this month's highs after Rishi Sunak was set to become Britain's next prime minister, seeking to restore stability to a country reeling from years of political and economic turmoil.

Sterling strengthened 0.3% to $1.13170, heading toward the high this month of $1.1493 from Oct. 5. [USD/]

Equities were mixed in Asia, with Japan's advancing 0.7% and South Korea rising 0.3% but Taiwan was down 0.7% and Hong Kong shed 0.6%.

MSCI's broadest index of Asia-Pacific shares lost 0.4% to 428.2 after dipping to 427.4 , the lowest since April 2020.

25 Oct 2022, 09:18:03 AM IST

Bharat Mata Ki Jai, says Amitabh Bachchan as UK to get first Indian-origin PM

Bollywood actor Amitabh Bachchan, on Tuesday, lauded Rishi Sunak for becoming the first Indian-origin Prime Minister of the United Kingdom.

The megastar took to his social media and wrote, "Jai Bharat .. now the UK finally has a new viceroy as its Prime Minister from the Mother Country." 

25 Oct 2022, 08:51:07 AM IST

Rishi Sunak expected to keep Jeremy Hunt as he readies new UK Cabinet

Rishi Sunak is expected to keep Jeremy Hunt as Chancellor of the Exchequer as he seeks to calm markets and form a united government when he becomes UK prime minister on Tuesday, Bloomberg has reported.

His challenge is finding a balance between rewarding loyalists who backed his two leadership campaigns this year, while ensuring party unity by including figures from across warring factions. Sunak’s aides held talks Monday about appointments to his first cabinet after the Conservative Party leader promised lawmakers he would lead a “government of all the talents," people familiar with the discussions said. He’s expected to proceed with Hunt’s plans for a fiscal statement, setting out the government’s spending plans on Oct. 31.

25 Oct 2022, 08:19:06 AM IST

‘Proud of him’, says Narayana Murthy as son-in-law Rishi Sunak elected as UK PM

"We are proud of him and wish him success," Infosys co-founder Narayana Murthy said in his first comments on the elevation of his son-in-law Rishi Sunak as Britain's prime minister.

Sunak, 42, on Sunday won the race to lead the Conservative Party and is now set to become Britain's first prime minister of Indian origin.

"Congratulations to Rishi. We are proud of him and we wish him success," Murthy said in first first reaction emailed to news agency PTI. "We are confident he will do his best for the people of the United Kingdom."

25 Oct 2022, 07:58:19 AM IST

Rishi Sunak, the youngest Britain PM to sworn in today; check full schedule here

Rishi Sunak will on Tuesday be installed as Britain's third prime minister this year, replacing the humiliated Liz Truss after just seven weeks and inheriting a daunting array of problems. Sunak became the ruling Conservatives' new leader on Monday after rival contender Penny Mordaunt failed to secure enough nominations from Tory MPs, and Boris Johnson dramatically aborted a comeback bid.

Here is the full schedule:

Rishi Sunak will take power in a morning audience with King Charles III, who is anointing his first prime minister since ascending the throne just two days after his late mother Queen Elizabeth II appointed Truss.

Truss will hold a final cabinet meeting before making a departing statement in Downing Street at around 10:15 am (0915 GMT), with Sunak expected to speak just over an hour later. She leaves office as the shortest-serving premier in history, after a calamitous tax-slashing budget sparked economic and political turmoil.

After delivering the now all-too-familiar new leader's speech from the steps of Number 10 at around 11:35 am, Britain's fifth prime minister in six years will start appointing his top team before facing his first session of "Prime Minister's Questions" in parliament on Wednesday.

25 Oct 2022, 07:41:04 AM IST

Rishi Sunak to be appointed UK's third PM this year

Rishi Sunak will on Tuesday be installed as Britain's third prime minister this year, replacing the humiliated Liz Truss after just seven weeks and inheriting a daunting array of problems.

Sunak became the ruling Conservatives' new leader on Monday after rival contender Penny Mordaunt failed to secure enough nominations from Tory MPs, and Boris Johnson dramatically aborted a comeback bid.

The 42-year-old Hindu will be Britain's first prime minister of colour and the youngest in more than two centuries. Sunak will take power in a morning audience with King Charles III, who is anointing his first prime minister since ascending the throne just two days after his late mother Queen Elizabeth II appointed Truss.

The ceremony on September 6 was the last major public act of her record-breaking reign. Truss will hold a final cabinet meeting before making a departing statement in Downing Street at around 10:15 am (0915 GMT), with Sunak expected to speak just over an hour later. She leaves office as the shortest-serving premier in history, after a calamitous tax-slashing budget sparked economic and political turmoil.

Addressing the public on Monday, Sunak promised "stability and unity" as well as bringing "our party and our country together".

25 Oct 2022, 07:23:12 AM IST

Prada and pools: Rishi Sunak's mega-wealthy wife and in-laws

Akshata Murty, the Indian wife of Britain's next Prime Minister Rishi Sunak, is fabulously rich thanks to her billionaire father, a fortune that is attracting controversy as ordinary people reel from a cost-of-living crisis. Sunak's father-in-law, N.R. Narayana Murthy, 76, co-founded tech giant Infosys in 1981. The outsourcing behemoth now worth around $75 billion helped drive India's transformation into the "back office of the world." One of only two non-Americans in Fortune magazine's 2012 list of the "12 greatest entrepreneurs of our time", the Infosys chief's life-changing moment came in 1974 when he was locked up for four nights in communist Eastern Europe. Read more here

25 Oct 2022, 06:43:11 AM IST

Anand Mahindra on Rishi Sunak as UK PM, quotes Winston Churchill's 1947 quote on Indian leaders  

Chairman of Mahindra Group Anand Mahindra on Monday tweeted on Indian-origin Rishi Sunak being announced as the next UK PM. In a tweet, he put out a quote by Winston Churchill from 1947 on Indian leaders. Anand Mahindra wrote, “In 1947 on the cusp of Indian Independence, Winston Churchill supposedly said …all Indian leaders will be of low calibre & men of straw. Today, during the 75th year of our Independence, we’re poised to see a man of Indian origin anointed as PM of the UK. Life is beautiful…"

 

25 Oct 2022, 06:23:43 AM IST

Bengaluru celebrates 'son-in-law' Rishi Sunak becoming next UK PM

After the announcement of Rishi Sunak's victory in the UK's next Prime Minister's race on Monday, Bengalurians termed it a historic moment and a sign of a mature democracy. Karnataka Chief Minister Basavaraj Bommai also congratulated Rishi Sunak on being elected as the Britain Prime Minister. In a tweet, he wrote, “Congratulations to Conservative Party leader Shri Rishi Sunak as being elected Britain’s Prime Minister, the first person of Indian-origin to hold this august office. Best wishes for a successful tenure."

25 Oct 2022, 06:11:15 AM IST

Here's how Rishi Sunak wants to build UK-India relationship in his tenure

Set to be Britain's first Indian-origin prime minister, Rishi Sunak has recently said that he wants to change the UK-India relationship to make it a more two-way exchange that opens up easy access to UK students and companies in India. In August this year, while addressing a gathering of British Indian Conservative Party members, the the 42-year-old UK-born Indian-origin Tory MP for Richmond in Yorkshire vowed to get the country through the “difficult times" of inflation and build a better, safer Britain. Read more here

25 Oct 2022, 05:56:53 AM IST

Rishi Sunak's election as UK PM ground-breaking milestone, says Joe Biden

The election of Indian-origin Rishi Sunak as the United Kingdom’s Prime Minister is “pretty astounding" and a “ground-breaking milestone", United States President Joe Biden has said.

“It's a choice. And we make that choice every day. It's true in our lives and in the life of this nation, especially in the life of a democracy, whether here in America or for the families back in India marking 75 years of independence," he said.

“And whether it's the United Kingdom, where just today we've got the news that Rishi Sunak is now the Prime Minister," Biden said amidst a big cheer from the select guests of more than 200 people consisting of the who’s who of Indian Americans and members of his administration.

“As my brother would say, Go figure! And the Conservative Party! (Sunak) is expected to become the prime minister, I think, tomorrow when he goes to see the king. Pretty astounding. A ground-breaking milestone. And it matters. It matters," Biden said acknowledging the immigrant Indian community’s achievements.

24 Oct 2022, 11:00:41 PM IST

Host of challenges Rishi Sunak faces 

Surging inflation, ongoing strikes, health crises and war in Europe: the UK's incoming prime minister Rishi Sunak faces major challenges -- as well as bitter rifts in the Conservative party.

24 Oct 2022, 10:48:14 PM IST

Haryana CM Khattar, Amarinder Singh join wagon, congratulate Sunak

Haryana Chief Minister Manohar Lal Khattar on Monday congratulated British Prime Minister-elect Rishi Sunak, saying it was truly a proud moment for Indians all over the world on the auspicious occasion of Diwali.

BJP leader and former Punjab Chief Minister Amarinder Singh in his congratulatory message said he is sure Sunak will lead his country to great success. "Congratulations to Rishi Sunak for becoming the Prime Minister of Great Britain. Special wishes from 1.3 billion Indians.

24 Oct 2022, 10:06:52 PM IST

UK stocks close higher as Sunak prepares to take charge

Britain's main equity indexes closed higher on Monday as Rishi Sunak looked set to become the next prime minister after other candidates quit the race, offering investors some relief after a tumultuous few weeks in British politics.

The blue-chip FTSE 100 gained 0.6%, while the domestically focused FTSE 250 index jumped 0.8%.

The British pound rose in volatile trading, while gilts jumped after Sunak won the race on Monday to lead the Conservative Party, tasked with steering a deeply divided country through an economic downturn that is poised to leave millions of people poorer.

24 Oct 2022, 09:19:35 PM IST

Rishi Sunak promises ‘stability and unity’ 

UK PM designate Rishi Sunak has promised that he will make ‘Stability and Unity’ his priority during his first public address as the Prime Minister designate of United Kingdom

"UK is a great country but we face a profound economic challenge. We now need stability and unity & I'll make it my utmost priority to bring our party and country together as that's the only way we'll overcome challenges &build a better future for our children & grandchildren', Sunak said. 

Rishi Sunak leaves the Conservative Campaign Headquarters in London, Monday, Oct. 24, 2022. Rishi Sunak will become the next Prime Minister after winning the Conservative Party leadership contest. (AP Photo/Aberto Pezzali)
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Rishi Sunak leaves the Conservative Campaign Headquarters in London, Monday, Oct. 24, 2022. Rishi Sunak will become the next Prime Minister after winning the Conservative Party leadership contest. (AP Photo/Aberto Pezzali) (AP)
24 Oct 2022, 09:08:55 PM IST

PM Modi congratulates next UK PM Rishi Sunak

PM Modi congratulates Rishi Sunak, says he looks forward to working closely together on global issues, implementing Roadmap 2030

24 Oct 2022, 08:57:32 PM IST

Rishi Sunak not to take charge today

UK PM handover to Britain's new prime minister, Rishi Sunak, will not happen on Monday, a spokesperson for Prime Minister Liz Truss said, outlining that discussions were being held on the timing and choreography of the transition.

New leader of the Britain's Conservative Party Rishi Sunak waves outside the Conservative Campaign Headquarters, in London, Britain October 24, 2022. REUTERS/Maja Smiejkowska
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New leader of the Britain's Conservative Party Rishi Sunak waves outside the Conservative Campaign Headquarters, in London, Britain October 24, 2022. REUTERS/Maja Smiejkowska (REUTERS)
24 Oct 2022, 08:42:13 PM IST

Sunak asks Tories to 'unite in face of existential threat’

Rishi Sunak called on his warring Conservative Party to unite as the UK’s incoming prime minister bids to fix the crisis facing the economy.

Speaking less than an hour after emerging victorious in the race to succeed Liz Truss as premier, the former Chancellor of the Exchequer said his party faces an “existential threat," and needs to come together, according to Simon Hoare, a Tory lawmaker present at Sunak’s address to MPs behind closed doors on Monday.

Rishi Sunak, incoming UK prime minister, center, arrives at Conservative Campaign Headquarters in London, UK, on Monday, Oct. 24, 2022. Speaking less than an hour after emerging victorious in the race to succeed�Liz Truss�as premier, the former Chancellor of the Exchequer said his party faces an �existential threat,� and needs to come together, according to Simon Hoare, a Tory lawmaker present at Sunak�s address to MPs behind closed doors on Monday.�Photographer: Chris J. Ratcliffe/Bloomberg
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Rishi Sunak, incoming UK prime minister, center, arrives at Conservative Campaign Headquarters in London, UK, on Monday, Oct. 24, 2022. Speaking less than an hour after emerging victorious in the race to succeed�Liz Truss�as premier, the former Chancellor of the Exchequer said his party faces an �existential threat,� and needs to come together, according to Simon Hoare, a Tory lawmaker present at Sunak�s address to MPs behind closed doors on Monday.�Photographer: Chris J. Ratcliffe/Bloomberg (Bloomberg)
24 Oct 2022, 08:36:57 PM IST

'Nobody voted for this': Labour party's deputy leader Angela Rayner

With Conservative Tory MPs jubilating after Rishi Sunak's appointment announcement of becoming Britain's new Prime Minister, Nobody voted for this, says Labour's deputy leader Angela Rayner.

For details click here

24 Oct 2022, 08:32:53 PM IST

'First Kamala Harris, now Rishi Sunak': Chidambaram tweets

Harping on the the Western powers embracing minority community leadership, Congress leader P Chidambaram said, "First Kamala Harris, now Rishi Sunak. The people of the U.S. and the U.K have embraced the non-majority citizens of their countries".


24 Oct 2022, 08:05:09 PM IST

Congratulations Rishi Sunak: Outgoing PM Liz Truss

British Prime Minister Liz Truss said on Monday Rishi Sunak had her full support after he won a leadership race to become the country's next leader.

"Congratulations @RishiSunak on being appointed as Leader of the Conservative Party and our next Prime Minister," Truss said on Twitter. "You have my full support."

24 Oct 2022, 07:45:49 PM IST

Sunak rules out national election

Rishi Sunak, the new leader of Britain's governing Conservative Party and soon-to-be prime minister, has ruled out holding a national election, according to lawmakers present at a speech given by him on Monday.

24 Oct 2022, 07:20:47 PM IST

Penny Mordaunt withdrawal statement, in full

"Our Party is our membership. Whether we are elected representatives, activists, fundraisers or supporters. We all have a stake in who our leader is.

"These are unprecedented times. Despite the compressed timetable for the leadership contest it is clear that colleagues feel we need certainty today. They have taken this decision in good faith for the good of the country.

"Members should know that this proposition has been fairly and thoroughly tested by the agreed 1922 process.

"As a result, we have now chosen our next Prime Minister. This decision is an historic one and shows, once again, the diversity and talent of our party. Rishi has my full support.

"I am proud of the campaign we ran and grateful to all those, across all sides of our party, who gave me their backing. We all owe it to the country, to each other and to Rishi to unite and work together for the good of the nation. There is much work to be done."

24 Oct 2022, 06:49:54 PM IST

Mordaunt pulls out

Mordaunt pulls out, vows 'full support' to Sunak for UK's PM

24 Oct 2022, 06:11:56 PM IST

Latest tally: Rishi Sunak - 193 MPs; Penny Mordaunt - 26 MPs

BBC reports, latest tally of backers who have gone public with their support: Rishi Sunak - 193 MPs; Penny Mordaunt - 26 MPs

24 Oct 2022, 05:17:53 PM IST

Jeremy Hunt working on 31 Oct fiscal package, decision for next PM

British finance minister Jeremy Hunt is continuing to work on getting a medium-term fiscal package ready for Oct. 31 should the new prime minister want to go ahead with it on that day, a spokesperson for Prime Minister Liz Truss said on Monday.

"The chancellor and the Treasury continue to work towards to having a package ready for the 31st should a new prime minister wish it to proceed on that day," the spokesperson told reporters. "The decision will rest with the new prime minister."

24 Oct 2022, 05:16:16 PM IST

Mordaunt team says she has support of more than 90 UK Tory MPs

Penny Mordaunt has the support of more than 90 Conservative Members of Parliament in the race to succeed Liz Truss as prime minister, her campaign team said, suggesting the Leader of the House of Commons may qualify later on Monday for a run-off against former Chancellor of the Exchequer Rishi Sunak.

Contestants need 100 nominations by 2 p.m. to get on the ballot paper. If two candidates meet that requirement, they’re set for an indicative vote among all MPs later on Monday, followed by a runoff vote among the Tory Party’s wider grassroots members, with a winner to be announced Friday.

24 Oct 2022, 04:04:51 PM IST

Penny Mordaunt Pressed to Exit UK PM race

Penny Mordaunt is facing calls privately from members of her own campaign team to pull out of the UK leadership race as Rishi Sunak picked up support to become the next prime minister.

Mordaunt was locked in talks with members of Parliament from the ruling Conservative Party to obtain the 100 nominations she needs to go forward to the final ballot. She told her closest allies she’s serious about standing and can reach the threshold, people familiar with the discussions said, asking not to be named.

24 Oct 2022, 03:14:23 PM IST

Boris Johnson loyalist Priti Patel comes out in support of Rishi Sunak as UK PM

Priti Patel, a loyalist of former British prime minister Boris Johnson, on Monday came out in support of Rishi Sunak to take over at 10 Downing Street as the Conservative Party leader after her former boss withdrew from the leadership contest.

The Indian-origin former home secretary, who resigned from the Cabinet when Liz Truss was elected the Prime Minister last month, said the Tories must put political differences aside to give Sunak the best chance of succeeding as the new leader.


24 Oct 2022, 02:26:48 PM IST

Indians pinning their hopes on Rishi Sunak on Diwali

Many Indians are delighted at the prospect of Rishi Sunak becoming the first person of Indian origin to become British prime minister on Monday, just as Hindus across the world celebrate Diwali.

Sunak's increasingly likely rise to the premiership has already made it to the front pages of most Indian newspapers - alongside the Indian cricket team's win over arch-rivals Pakistan in a T20 World Cup match late on Sunday.

Some Indians said on social media that Sunak becoming prime minister this year would be even more special as India recently celebrated 75 years of its independence from British colonial rule.

24 Oct 2022, 02:19:00 PM IST

Businesses blame Truss for intensifying recession

The UK political storm that prompted Prime Minister Liz Truss to step aside is intensifying a downturn in the economy and darkening the outlook for businesses.

S&P Global’s survey of private sector purchasing managers fell to 47.2 in October, well below the 48.1 reading economists had expected and deeper into territory indicating a contraction.

The worst reading for expectations in the year ahead since the start of the pandemic suggests the economy will shrink in the fourth quarter, the research company said Monday.

24 Oct 2022, 01:55:49 PM IST

FTSE 100 slips on stronger pound; PM race takes focus

UK's FTSE 100 slipped today as a stronger pound and weaker oil prices weighed on the blue-chip index, while investors kept a close watch on the race for Britain's next prime minister after former leader Boris Johnson withdrew from the contest.

24 Oct 2022, 01:07:49 PM IST

UK bonds surge with Sunak as frontrunner

UK bonds surged at Monday’s open after Johnson pulled out of the race to become PM, leaving former chancellor Sunak as the clear frontrunner. Short-dated notes led the rally, sending the yield on the two-year note lower by as much as 34 basis points to 3.46%. Traders are also slashing bets on the extent of interest-rate hikes by the Bank of England.

24 Oct 2022, 12:21:02 PM IST

‘Britain will look like a banana republic if Sunak becomes PM’

Labour MP Chris Bryant said that if Sunak becomes prime minister, the British electoral system will look "no more democratic than a banana republic".

24 Oct 2022, 11:46:47 AM IST

Pound extends gains

The pound was a notable exception in rising against the greenback after Boris Johnson pulled out of the race to lead the UK’s ruling Conservative Party, putting Rishi Sunak closer to becoming the next prime minister.

24 Oct 2022, 10:42:15 AM IST

Jeremy Hunt on Rishi Sunak

Sunak will “turn the page on what went wrong, take decisions in the national interest and rebuild the extraordinary potential of our economy," Jeremy Hunt said in a column.

24 Oct 2022, 10:06:22 AM IST

Sunak one step closer to be elected UK PM on Diwali

Rishi Sunak is one step closer as the clear frontrunner in the Conservative Party leadership race today to be elected Britain’s first Indian-origin PM after his former boss confirmed he would be pulling out of the contest. With the former Johnson stepping aside yesterday night saying it was “simply not the right time" for his comeback, the prospect of a Diwali victory for Sunak cannot be ruled out.

24 Oct 2022, 09:55:45 AM IST

What triggered the contest

The contest was triggered by outgoing leader Liz Truss's resignation on Thursday. The Tories were forced into their second leadership contest since the summer due to Truss's resignation after only 44 days following the disastrous market response to her tax-slashing mini-budget.

24 Oct 2022, 09:31:18 AM IST

Sunak has 123 lawmakers behind him

Sunak has around 123 lawmakers behind him, compared to Johnson’s 51 named backers, as per Bloomberg’s tally, which counts only 23 for Mordaunt. In his statement, Johnson said he had the support of at least 102 MPs, enough to have taken the contest to a ballot of party members who have sided with Johnson in the past.

24 Oct 2022, 09:13:29 AM IST

Sunak may become UK's 1st PM of Indian descent

If Sunak's opponent Penny Mordaunt is unable to secure the support of 100 MPs by October 24, Britain's former finance minister may end up becoming the country's new prime minister today itself. Full report here

24 Oct 2022, 09:05:11 AM IST

Sunak vowed to lead with 'integrity, professionalism and accountability'

Shortly after Johnson said he wouldn’t stand for fear of dividing the Conservative Party -- Sunak vowed to lead with “integrity, professionalism and accountability" if he won the race for No. 10 Downing Street.

24 Oct 2022, 09:03:49 AM IST

Sunak pays tribute to Johnson

24 Oct 2022, 08:52:34 AM IST

Sunak crosses threshold

Sunak had crossed that threshold by Friday night, ahead of declaring his candidacy on Sunday and amassing nearly 150 public nominations from Tory lawmakers.

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