Liz Truss admits mistakes on controversial tax cuts plan, but doubles down on it anyway

London CNN — British Prime Minister Liz Truss admitted mistakes had been made with her government’s controversial “mini-budget” announced last week – which felt the pound to historic lows and sparked market chaos – but stood by her policies. Speaking to the BBC’s Laura Kuenssberg on Sunday morning Truss said: “I do accept we should … Read more

King Charles III’s coin portrait unveiled by UK Royal Mint

London CNN Business — The portrait of King Charles III that will feature on British coins has been unveiled by the Royal Mint, the official maker of UK coins. The image, which will first appear on commemorative £5 and 50 pence coins to honor the life of the late Queen Elizabeth II, was designed by … Read more

US officials troubled by controversial UK tax cut plan

new York CNN — US officials are increasingly troubled by the United Kingdom’s proposal to slash taxes at a time of crushing inflation, a plan that has ignited turbulence in financial markets. UK Prime Minister Liz Truss’s tax-cut plan has drawn criticism from economists and investors and prompted the Bank of England to calm panicked … Read more

Drink these types of coffee to live longer, study says

CNN — Drinking two to three cups a day of most types of coffee may protect you from cardiovascular disease and an early death, a new study found. “The results suggest that mild to moderate intake of ground, instant and decaffeinated coffee should be considered part of a healthy lifestyle,” said study author Peter Kistler, … Read more

Liz Truss’s premiership has got off to the worst start possible

Liverpool, England CNN — Liz Truss’s first few weeks as British prime minister have been defined by crisis. She’d barely been in the job 48 hours when news broke that Queen Elizabeth II had died, placing the country in a state of official mourning and delaying the official launch of the Truss plan for Britain. … Read more

Premarket stocks: Ronald Reagan’s tax lesson for Britain

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. new York CNN Business — The British pound hit a record low against the dollar on Monday … Read more

Russian military escalation and ‘bogus threats’ show Putin has been ‘outsmarted’ by the Ukrainians, says UK PM

CNN — Vladimir Putin’s announcement of increased military conscription to bolster Moscow’s invasion of Ukraine shows that the Russian President “has been outsmarted” by Kyiv, UK Prime Minister Liz Truss told CNN in an exclusive and wide-ranging interview. The new British leader, who takes power at a time of historic upheaval, told CNN’s Jake Tapper … Read more

Markets hate Liz Truss’ plan for the UK. Just look at these charts

London CNN Business — When the UK government, led by the new Prime Minister Liz Truss, unveiled its plan to rescue the British economy on Friday, the reaction from investors was instantaneous: They hated it. The British Pound crashed below $1.10 by mid-afternoon, hitting a new 37-year low against the greenback. UK government bonds also … Read more

Queen Elizabeth’s funeral: Britain bids farewell to monarch with an outpouring of emotion

London CNN — Britain bid farewell to Queen Elizabeth II on Monday with a majestic funeral steeped in tradition and a send-off reflective of the broad popularity she managed to retain over her remarkable seven-decade reign. Royal family members and dignitaries gathered at Westminster Abbey for a somber service. Presidents, prime ministers, princes and princesses, … Read more

Biden and world leaders attend state funeral for Queen Elizabeth II

CNN — US President Joe Biden on Monday joined a long slate of world leaders for Queen Elizabeth II’s state funeral inside London’s Westminster Abbey, where a royal pageantry was on full display to pay tribute to a monarch whose rule spanned seven decades. World leaders, dignitaries, politicians, public figures and European royals were among … Read more