Kwasi Kwarteng

The 'savage' market reaction to the UK budget plan reflected a loss of credibility, and Liz Truss won't be able to salvage the situation even with the recent U-turn, Paul Krugman says

2 days ago   |   Travel

Paul Krugman. BI The market's reaction last week to the UK's tax cut plan indicates the government lost credibility, said economist Paul Krugman. "What Britain got instead was...
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Pressure was lifted from the UK currency Monday as the government announced a U-turn on its tax plans that had sent the pound to new lows against the dollar. Here's what to know

3 days ago   |   Travel

Good morning, readers. I'm Hallam Bullock, Insider's newsletter editor, reporting from London this week while Phil Rosen is out. Spare a thought for us dizzy Brits, whose pound...
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UK's Kwarteng scraps tax cut after market meltdown

4 days ago   |   Politic - News

"We get it, we have listened," Kwarteng said.
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Liz Truss stands by U.K. tax cuts plan but wishes she had ‘laid the ground better' after market chaos

5 days ago   |   Business - News

She said she that should have ‘laid the ground better' for the mini-budget and that removing the top tax rate was Kwasi Kwarteng's idea.
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The pound rises against the dollar and briefly erases its selloff losses, after UK leaders agree to emergency talks

7 days ago   |   Travel

British Prime Minister Liz Truss. Dan Kitwood/Getty Images The pound rose Friday after UK government leaders agreed to talks with independent budget experts. Sterling, which...
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The British pound falls again after the IMF's stinging attack on the UK's $48 billion tax-cutting plan

9 days ago   |   Travel

The new UK government's tax-cutting proposals will drive up inflation and inequality, according to the International Monetary Fund. Carl Court/Getty Images The pound slid...
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UK finance minister will meet with Wall Street banks after the newly unveiled mini-budget sparked panic in markets and sent the pound plummeting

9 days ago   |   Travel

UK Chancellor of The Exchequer Kwasi Kwarteng leaves 11 Downing Street holding the government's mini-budget on September 23 in London. Carl Court/Getty Images The UK Chancellor...
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Pound steadies after hitting record low as investors weigh the chances of the Bank of England stepping in

10 days ago   |   Travel

The pound steadied against the dollar Tuesday after hitting an all-time low in the previous trading session. Mike Kemp/In Pictures via Getty Images The pound climbed nearly 1%...
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The UK pound just tumbled to a record low against the dollar. That could drive up food and gas prices for already struggling households

11 days ago   |   Travel   |   3 articles

The pound plummeted to a record low Monday after the UK's new government doubled down on plans to cut taxes. Dylan Martinez - WPA Pool/Getty Images The British pound fell to a...
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European Political Turmoil Roils Global Markets

11 days ago   |   Business - News

Stocks and bonds in Europe and Asia fell on Monday, as did futures in American markets, as developments in Britain and Italy weighed on investors.
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