Andy Burnham assumed office as UK Prime Minister, vowing a 10-year plan to restore political stability and revive the economy. He pledged to ease living costs, decentralize power, revitalize industry, and end street sleeping, acknowledging past failures of previous leaders.
Keir Starmer resigned as UK Prime Minister, declaring "my work is done" before handing power to Andy Burnham, who became Labour leader after Starmer's forced resignation. Burnham, the seventh PM since 2016, pledges to restore political stability and raise living standards.
Hong Kong's Chief Executive John Lee announced city-wide events to mark the Communist Party's 105th anniversary, aiming to boost national confidence and patriotism among residents, especially youth, amidst greater social and political stability.
Algerians are voting on July 2 for a new parliament, a test of public engagement and political change since the 2019 Hirak protests. Low turnout is expected, with critics questioning reforms and the continued dominance of established parties despite President Tebboune's "new Algeria" vision.
Italian PM Giorgia Meloni proposes an electoral system overhaul with a "majority prize" to ensure stable governments, drawing strong condemnation from opposition parties who label it an "authoritarian" attempt to secure her coalition's power and raise constitutional concerns.
The UK is experiencing significant political turmoil, with Keir Starmer announcing his resignation, marking the seventh prime minister in ten years. This instability is attributed to internal party politics and poor policy decisions rather than voter choice, creating a perception of an ungovernable nation.
Bloomberg reports that a swift end to the conflict in Ukraine could create significant political challenges for President Volodymyr Zelensky, potentially forcing him to defend unpopular concessions made for a truce during future elections.
Malaysian Prime Minister Anwar Ibrahim faces increasing pressure for an early election as his coalition government shows signs of unraveling. Allies are reverting to old positions, and threats of conflict emerge, potentially forcing Anwar's hand before his term ends.
VCK chief Thol Thirumavalavan has pledged unconditional support to actor-politician Vijay's government, aiming to ensure political stability and prevent President's rule in Tamil Nadu. This move, communicated to DMK chief MK Stalin, allows TVK to navigate the state's new coalition landscape. VCK will remain in the DMK-led alliance but will not join the cabinet, prioritizing political credibility over ministerial berths.
VCK chief Thol Thirumavalavan has pledged unconditional support to actor-politician Vijay's government, aiming to ensure political stability and prevent President's rule in Tamil Nadu. This move, communicated to DMK chief MK Stalin, allows TVK to navigate the state's new coalition landscape. VCK will remain in the DMK-led alliance but will not join the cabinet, prioritizing political credibility over ministerial berths.
Thol Thirumavalavan's VCK party has pledged unconditional support to Vijay's TVK, aiming to ensure Tamil Nadu's political stability and avert President's rule. This move, made independently while remaining in the DMK alliance, bolsters TVK's numbers to a majority. Vijay is now expected to stake his claim to form the government.
Rise in bond yields due to fuel prices and stability concerns will eat away at Rachel Reeves’s fiscal headroomBusiness live – latest updatesThe UK government’s long-term borrowing costs have hit their highest level since 1998, amid rising fuel prices and concerns about political stability.The yield – effectively the interest rate – on 30-year UK government bonds (gilts) hit 5.76% at lunchtime on Tuesday, up 0.11 percentage points – exceeding the 27-year high reached last autumn. Continue reading...
Keir Starmer has faced mounting criticism after refusing to admit misleading Parliament over his appointment of Peter Mandelson as US ambassador, despite Mandelson failing vetting. The Prime Minister instead blamed officials, the vetting system and Mandelson's lack of candour, prosecuting former Foreign Office chief Olly Robbins with 'vigour of his former life at the bar'. Senior MPs describe Starmer as having 'chronic good guy syndrome' making it hard to admit failings. The controversy has intensified speculation about a leadership challenge, with odds now rated 7/10 post-May, though MPs say now is not the right time to oust him.
