British Prime Minister Boris Johnson names Nadhim Zahawi finance minister

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• U.K. Prime Minister Boris Johnson on Tuesday has named Nadhim Zahawi as finance minister, Reuters reported.
• Former education secretary Zahawi is succeeding Rishi Sunak who earlier submitted his resignation given a "fundamental" difference with Johnson.
• Looking at intraday price action, the pound sterling (NYSEARCA:FXB) -1.1% fell earlier on Tuesday's session but has since rebounded a bit. The pound is down 0.10% to $1.19 against the U.S. dollar.
• In mid-June, Boris Johnson attempted to rewrite Brexit and trade in Northern Ireland.

Comments

[User 48535522]

So cutting taxes in an inflationary environment that is threatening recession makes the economy WORSE? Sounds like the kind of thinking that comes from a bad education and poor judgment.

[trentbridge]

The coup is underway. Boris is living on borrowed time. The Conservative Party is not happy with his leadership.