Election Financial News

Reeves was appointed head of the Treasury by Prime Minister Keir Starmer on Friday (1 July), after his party won a landslide majority at the UK's 2024 general election. Campaigning on a promise of ‘Change', Reeves continued the PM's message in her first address in the role. Rachel Reeves appointed Chancellor of the Exchequer Speaking to Treasury staff on Friday, she said it was an «honour» to be chancellor, adding «I know what a responsibility this brings – to guide our economy through uncertain times». In her inaugural speech today, Reeves said she has already been working on h...

record number of around 28 Indian-origin members of Parliament have been elected to the House of Commons in the UK's general election as results were announced on Friday, with several Conservatives surviving an overall brutal outcome for their party. Outgoing prime minister Rishi Sunak leads the Tory charge of British Indians holding on to their seats, with a decisive win in his Richmond and Northallerton constituency in Yorkshire. It would have come as small consolation for the Tory leader, who saw his party haemorrhage over 200 seats as the Labour Party's landslide victory unfolded. «On this difficult night, I would like to express my gratitude to the people of the Richmond and Northallerton constituency for your continued support. Since I moved here a decade ago, you have made me and my family feel so at home and I look forward to serving you for years to come,» said Sunak, in a message clearly aimed at dismissing pre-election chatter around his future plans as a politician. Other prominent British Indian Tories holding on to their seats included former home secretaries, Suella Braverman and Priti Patel, as did Sunak's Goan-origin Cabinet ally Claire Coutinho.

Birla group firm Kesoram Industries on Tuesday said it remains committed to its loss-making subsidiary, Cygnet Industries Ltd, and will seriously engage in dialogue with its Japanese technical partner, Futamura, as a strategic investor after the demerger of its cement business is completed, a company official said. He was speaking to reporters on Tuesday on the sidelines of the Kesoram's 105th AGM, bustling as usual with shareholders and schoolgirls from Ashok Hall Group attending the meeting, but missing Manjushree Khaitan. She died on May 16. The AGM was chaired by Satish Narain Jajoo, who was elected chairman after the demise of the Birla scion last month. «There is no plan to hive off Cygnet. We are currently focused on the demerger process of the cement business, which is expected by December this year. We continue to believe that Cygnet, which has innovative packaging products in its kitty, can turn around,» Kesoram Industries' whole-time director and CEO, P. Radhakrishnan said.

Narendra Modi would likely focus on undertaking reforms to take care of unfinished agenda from his previous term. «The Union Budget 2024-25 is significant being the first from new regime. The focus will be on taking the unfinished agenda and fast tracking some of the pending reforms,» Jiten Doshi, Co-founder & CIO, Enam AMC told ETNow. «One can expect special focus to boost the income opportunities at the bottom of the pyramid, rationalization of taxes, driving capex cycle (public and private) while maintaining the balance on twin deficits,» he added.

Pankaj Tibrewal, Founder & CIO, IKIGAI Asset Manager, says durables, some of the value retailers, and some of the names on the staple side would be a good way to create a basket to see the revival in consumption over the next 12-18 months. What is the outlook on the defense basket, the darling of the market last year? For instance, on Thursday we did see quite a bit of fervour building up into these stocks. Are you looking at this space for the long haul as well?

earnings growth of small-cap companies will improve, Kotak Mutual Fund has resumed subscription in its small cap fund from today. The fund will accept fresh subscriptions through lumpsum investment, systematic investment plan (SIP), systematic transfer plan (STP), frequency or such other special products in the units of Kotak Small Cap Fund. The fund house informed about this to its unitholders through a notice cum addendum.

WASHINGTON—Facing an uncertain outcome in U.S. elections in November and no clear pathway to NATO membership for his country, Ukrainian President Volodymyr Zelensky appealed Tuesday in a speech at the beginning of the alliance summit to a traditional vision of U.S. leadership.

New York judge on Tuesday delayed Donald Trump's sentencing for his conviction on criminal charges stemming from hush money paid to a porn star until Sept. 18, after the former U.S. president asked for a chance to argue he should have been immune from prosecution. The sentencing had previously been set for July 11, just days before the Republican National Convention begins in Milwaukee on July 15. Trump is expected to be his party's nominee to challenge Democratic President Joe Biden in the Nov. 5 election. Trump faces an uphill battle getting the hush money conviction overturned, since much of the conduct at issue in the case predated his time in office. Trump's lawyers on Monday asked Justice Juan Merchan to allow them to argue his conviction in New York state court in Manhattan should be overturned due to the U.S. Supreme Court's ruling on July 1 that presidents are entitled to immunity from criminal prosecution for official acts. Prosecutors with Manhattan District Attorney Alvin Bragg's office said Trump's argument was «without merit,» but agreed to delay the sentencing to give Trump the chance to make his case. A Manhattan jury on May 30 found him guilty of falsifying business records to cover up his former lawyer Michael Cohen's $130,000 payment to adult film actress Stormy Daniels to stay quiet about an alleged 2006 sexual encounter until after the 2016 election, when Trump defeated Democrat Hillary Clinton.

agriculture and FMCG sectors have requested the government to use the budget to address the challenges they face due to drought, climate change and inflationary pressures. The requests were made during pre-budget consultations with Finance Minister Nirmala Sitharaman. The minister is scheduled to present the Union Budget on July 23, after presenting an interim budget in February due to Lok Sabha elections. Ashok Kumar, Associate Director, Farm Prosperity, Transform Rural India (TRI), tells ET Digital that a robust crop insurance mechanism is of paramount importance for farmers as weather risks have emerged as a major threat due to climate change. The budget should also focus on safe food production practices and support the production of chemical-free products that are safe for consumption. “Value addition and procurement have to be facilitated near farms. That will lead to higher income. Investment should be announced in quality energy access in farms and processing of primary agriculture produce. Photovoltaic systems could be a potential solution to meet the energy requirement of the agri sector,” says Kumar.

Maharashtra chief minister Eknath Shinde on Sunday slammed the Congress for accusing the BJP-led National Democratic Alliance (NDA) of corruption. He said the people of the nation are aware of the several scams that took place when the Congress-led UPA government was in power between 2004 and 2014. «The Congress has no moral right to speak on corruption. We saw scams in coal allotment, Commonwealth Games, Augusta helicopter purchase etc. Congress rule was about cut, commission and corruption,» Shinde told reporters at Nagpur airport. He was replying to a reported statement by Maharashtra Congress chief Nana Patole calling Prime Minister Narendra Modi the leader of corrupt people.

UK Parliament will welcome a record 29 MPs of Indian descent following the 2024 general election. Labour emerged as the leading party for People of Indian Origin (PIO) MPs, securing 19 seats, a notable increase from previous terms. Labour's Dominance and New Faces Labour celebrated a substantial victory with 12 new PIO MPs joining their ranks. Among the notable retainers are Lisa Nandy, Nadia Whittome, Navendu Mishra, Preet Gill, Valerie Vaz, and Seema Malhotra, who comfortably held onto their seats. Tanmanjeet Singh Dhesi retained Slough with a reduced majority, while Thangam Debbonaire lost Bristol Central to the Green Party, highlighting competitive contests within Labour strongholds.

After UK citizens head to the ballot box for the first general election since December 2019, analysts and traders will be waiting for the 10pm exit poll announcement to see who will form the next government. Historically, sterling has fluctuated before and in the immediate aftermath of major political decisions in the UK. Three weeks before the 2015 election, the pound fell to a five-year low and immediately after the 2016 Brexit referendum, sterling plummeted to its lowest level since 1985, according to data from Thomson Reuters. Oanda's Bambury noted: «In the seven days that foll...

elections that could produce the country's first far-right government since the World War II Nazi occupation — or leave it with no majority emerging at all. Marine Le Pen's anti-immigration, nationalist party National Rally stands a chance of winning a legislative majority for the first time, but the outcome remains uncertain because of a complex voting system and tactical maneuvers by political parties. What's happening Sunday? Voters across France and overseas territories can cast ballots for 501 of the 577 seats in the National Assembly, the lower and most important of France's two houses of parliament. The other 76 races were won outright in the first round of voting.

US President Barack Obama is reportedly worried about the prospects of the incumbent president after last week’s first presidential debate. According to the Washington Post, he has conveyed this to several of his aides in private. Obama believed that Biden’s re-election bid was going to be tough. Now, after the first presidential debate, he believes that it will only get tougher. He has also reached out to Biden and offered him assistance and offered to serve as a sounding board as the presidential election gets tougher. Obama also took to social media to extend his support to Biden while lashing out at Trump. Also Read: LEGO Ideas upcoming Jaws set first look revealed, all you need to know

Joe Biden on Friday asserted that he is the presidential nominee of the Democratic party, he is in the race and will win the election again as he sought to clear all the doubts about the future of his candidacy for the November 5 elections. Over the past week, there has been speculation about him leaving the race, with increasing voices inside the party calling for his departure following his poor debate performance in Atlanta last week. On Friday, Biden sought to clear all such doubts. «We had a little debate last week. Can't say it was my best performance. But ever since then, there's been a lot of speculation. What's Joe going to do? Is he going to stay in the race? Is he going to drop out? What's he going to do? Well, here's my answer. I am running and going to win again,» Biden told his cheering supporters in the battle ground State of Wisconsin. «I am the sitting President of the United States of America, no small part because of you. That's not a joke. In 2020, you came through for me. I'm the nominee of the Democratic Party. I'm the nominee of this party because millions of Democrats like you just voted for me in primaries all across America. You voted for me to be your nominee. No one else. You, the votes. The voters did that,» he said during the rally.

Kamala Harris to the office of the Vice-President in 2020 came as a surprise to many of the conservatives. If Biden were to stand down and be replaced on the ballot box, Harris is likely to replace him as the Democratic Party’s presidential nominee. She is expected to put up a fight in a contest in which she is only narrowly trailing behind Trump. However, there could be historical and sociological reasons that could prevent her victory, according to political analysts.

debt after domestic securities were included in a global index. The benchmark 10-year yield ended at 6.9987%, following its previous close of 7.0112%.

The just-concluded general elections have once again proven the vitality of Indian democracy. The democratic process has established that the democratic institutions of this country are more than capable of giving all sections of society a voice, especially the marginalized. With the formation of a new government, parliamentary processes have kicked in.

Supreme Court on Wednesday agreed to consider listing of a plea of the Uddhav Thackeray faction challenging Maharashtra Legislative Assembly Speaker Rahul Narwekar's order declaring the Shiv Sena bloc led by Chief Minister Eknath Shinde as the «real political party» after its split in June 2022. The speaker had also dismissed the disqualification petitions of the Thackeray faction against CM Shinde and his supporting MLAs. A bench comprising Chief Justice D Y Chandrachud and justices JB Pardiwala and Manoh Misra was urged by senior advocate Abhishek Singhvi, appearing for UBT leader Sunil Prabhu, that the plea needed to be listed for hearing as even the term of the assembly is nearing its end. «I will see,» the CJI said and asked the senior lawyer to circulate an e-mail to this effect.

UK election results are formally declared with Keir Starmer's Labour Party grabbing an outright majority with Rishi Sunak's Conservative Party falling well behind in the poll race. Interestingly, even though the Labour Party have a majority share of seats, its vote percentage stands at a mere 34%. If that is not all, Reform UK managed to win only 4 seats with a significant 14 percent vote share but the Conservatives attained 121 seats with only 24 per cent. This calculation factor has raised many eyebrows and people still cannot figure out why this happens during UK general elections.

presidential vote on Friday, an Iranian source told Reuters. «The vote counting has ended and the rival candidates have been informed about the result. Pezeshkian is around three million votes ahead of his hardline rival Saeed Jalili,» said the source, who asked not to be named. Earlier, the interior ministry said that Pezeshkian was leading the race in early results, adding that the initial reports showed turnout was around 50%, higher than the first round.