18 Burst results for "Penny Morton"
WTOP
"penny morton" Discussed on WTOP
"This is CBS News on the hour, sponsored by Chick-fil-A. I'm Deborah Rodriguez, the U.S. France and Britain have issued a rare joint warning to Russia today about what they say are false claims Ukraine has almost completed building a radioactive dirty bomb to use on its own territory. Corresponding cami McCormick reports. Former deputy CIA director and CBS News contributor Michael morell's take on the Russian claims. When they claim the Ukrainians are going to use a dirty bomb, what they're really saying to us is we might use a dirty bomb. The Russian objective, Russia is losing on the battlefield. And so they've turned to psychological warfare to try to shake the west resolve with regard to supporting Ukraine. The U.S. and its allies have warned Russia that the world would see through any attempt to use this allegation as a pretext for escalation. The U.S. gets a new set of failing marks on educating children during the pandemic. The nation's report card shows 8th grade math test scores fell by 8 points from 2019 to this year for fourth graders. They fell 5 points reading scores dropped in half of all states. The commissioner of the national center for education statistics calls the grade stark and troubling. With the midterms approaching the CEO of a voting equipment company accused by Trump allies of fudging the 2020 election results, says there is no way dominion changed anyone's vote. John poulos tells CBS 60 minutes. People have been put into danger. Their families have been put into danger. Their lives have been upended. And all because of lies. Three counts are audits in several states confirmed all of dominion's vote counts. Less than a week after Liz truss headed for the exit Britain could be getting a new prime minister. CBS is Vicky Barker, is in London. The would be contenders have just one more hour to gather endorsements from at least a hundred of their fellow Conservative Party lawmakers. So far, former finance minister Rishi sunak gathered well above that number, increasing pressure from party elders for his only challenger penny Morton to drop out. It'll be Philly and Houston and this year's World Series. Bryce Harper, who powered his team to a four to three win over the Padres with a two run Homer in the 8th, says it's every kid's dream. We all think in our backyards. It's the World Series, right? Every moment, you know, bottom of the 9th bases loaded three two count. Best pitcher on the mound in the World Series. After is beat the yanks 6 5. We are slipping in the dietary department. Here's CBS's Michael George. Americans now get more than 57% of their calories from ultra processed food. A new study finds a diet high in sugar
AP News Radio
Next UK prime minister: Sunak closes in after Johnson balks
"Former treasury chief Rishi sunak is the strong favorite to be Britain's next prime minister Sunak could well be offered the post after former lead up Boris Johnson dropped out of the Conservative Party leadership contest The government party is choosing a replacement for Liz truss who quit last week sunak is the only candidate with confirmed support for more than 100 lawmakers the number needed to run in the election House of Commons leader penny Morton has so far fewer expressions of support but is aiming to reach the threshold by the time nominations close later in the day Charles De Ledesma London
Bloomberg Radio New York
"penny morton" Discussed on Bloomberg Radio New York
"The start of cash equities trading here in Europe. The stock 600 starts in the day. 9 tenths of 1%. The FTSE a tenth of 1% higher at the open the cat Carroll in Paris, 7 tenths, higher the FTSE mib in Milan is 9 tenths stronger this morning at the start of trading across the sectors and the stock 600 travel and leisure shares leading the gains in the first few moments of training they're up by 1.7% most of the sectors are in positive territory just energy shares that are dipping into the red down by two tenths looking ahead towards the start of trading on Wall Street later, S&P E minis are also two tenths stronger this morning and guilty yields opening up this morning with a rally we're seeing on the ten year 9 20 basis points now 3.85 is where that's trading the 30 year 18 basis points lower 3.87. That's the markets of course reacting to that news that Boris Johnson has pulled out of the conservative leadership race and we are saying that strong rally across the guilt markets as a result the pound half a percent stronger on cable one 1365 is why that's trading. Well, now on to our top stories this morning, former Chancellor Rishi sunak is emerging as the clear favorite of conservative MPs to run the country. Boris Johnson, who was prime minister until September, pulled out of the race saying he had enough support to run, but that it wouldn't be the right thing to do, conservative homes, Henry hill, is skeptical about that claim. What we've seen from the last couple of days is the Boris camp have continually been announcing that they've kind of hit that hundred figure and then they've re announced it and then they've re announced it and then apparently they ended up at a To his move to surround himself with allies. And in top corporate news, Credit Suisse's chief compliance officer Rafael Lopez Lorenzo is set to leave the firm. That's according to people familiar with the matter. He was appointed in September 2021 after the bank was rocked by scandals over green sell capital and archegos. Credit Suisse is set to announce a major overhaul in coming days, but sources say this departure isn't related to that strategic review. Okay, those are our top stories. Let's get more though on our main story today, which is the conservative leadership race MPs have until 2 p.m. to choose who they want to lead the party. We know that Rishi sunak already has more than a hundred MPs, the threshold needed to enter that race for the moment penny morden to the potential challenger doesn't have that declared backing. Yes, although we'll see what they withdraw of Boris Johnson might mean for that race. We're joined there by the conservative MP Robbie Moore, who is backing penny morden, Robbie, good morning to you. Thank you for being with us on Bloomberg radio, why penny Morton? Well, without doubt penny is the unifying candidate. She is able to pull together at all sides of both the parliamentary party, but also the conservative membership. And in my view and by the polling that has been released, is the candidate that the opposition, whether it be labor, liberal Democrats or the S&P fear the most. So we need a unifying candidate, somebody that is able to take forward with fight our 2019 general election manifesto to the nation and to the opposition and I think that penny is absolutely the person to be doing that. Well, Robert you know, whoever does end up winning this contest, this is the second leadership contest this year thinking about the Conservative Party. I mean, how can the party maintain credibility after all this turmoil? Yeah, and I'm just as frustrated as many of my colleagues that we find ourselves in this position. It is deeply frustrating as an MP that has just come in less than three years ago. So I get the sense of frustration absolutely that is out there. But we are now in a position of time frame has been set where we can choose our next leader of the Conservative Party and prime minister. So it is right that we are having this debate because as you'll be well aware, we need to create stability. We need to make people be reassured that the government is delivering for them because that's what's the most important thing. So we've got a few days to have those conversations and that's why I'm backing penny because I think that she is unifying character she has the experience she has been in government for a number of years across 9 government departments, 8 ministerial positions. So I think that she is the candidate that has got the experience to take the top job. Now you're a majority in your constituency in the last election was pretty slim just over 2000 votes. I'm wondering do you think that penny morden as leader of the party will help you to keep your seat in the next election? Absolutely. And that's why I'm backing it. That is absolutely why I am backing here because penny is a staunch campaigner. She knows and is in tune with what people are thinking. So penny won her seat from labor and she has retained her feet and grown her vote share since she has taken that seat from labor. So she understands what the mood music is on the ground. She's had a very difficult upbringing and she's able to bring that wealth of experience to the top as well as being that unifying character. So I wholeheartedly believe that penny is absolutely the type of person that will be able to retain not just a marginal feat like I have. But some of those more rural seats that have been safe conservative seats for a long period of time, but also including those new red wall type seats that we have won and taken from labor for the first time in 2019. Well, Robbie, I mean, one question. I mean, looking at the situation right now, isn't it actually Jeremy hunt who's in charge of the Conservative Party right now? Let's say there is a new leader, which of course there will be this week, how much leeway does that person really have to put in place any new policies? So Jeremy is obviously Chancellor and penny has indicated that she would keep the Jeremy is transfer, which I think is the right decision to have made. He has created calm in the market. He has created stability, which is absolutely what needed to be delivered. And we have an ability now to choose a new leader that will then set the vision and the direction based on the manifesto that we as conservatives were all elected on in 2019. So whoever takes the keys to number ten will be able to put their influence on that direction and quite rightly, they will be prime minister. So I'm quite confident that that will be in the gift of either of the candidates that take that position. Of course, for penny Morton to make that 100 threshold that needs to be made of MPs. She will need to win quite a lot of Boris Johnson's supporters, the foreign sack of James cleverly in the past few minutes has said that he will support Rishi sunak in the race. Is that a blow to penny Morgan's campaign? Well, no, it could work quite confident on the numbers. We're confident that penny will end up on the ballot, which I think is a good thing. I don't think it's great necessarily have a coronation for a candidate. I think it's right that we have a candidate that is able to debate that is able to be put to the membership. So our membership to have a decision on that. So factually, let's not forget that unfortunately, I know we only have a leadership election over the summer period, which went on to far too long in my view. But the membership didn't pick Rishi. So I think it's right that even if Richie ends up getting it that he is given that gift by the membership as well, which is why it is so important that over the course
Bloomberg Radio New York
"penny morton" Discussed on Bloomberg Radio New York
"The next prime minister in the UK is later today? Could it be a coronation for Rishi sunak or will panny mordens reach the threshold of a hundred MPs needed to put her in a race and go to the conservative membership for a vote, which would give us a result by Friday. That's the big story here in the UK. Globally though, on the markets, we have seen a slump in Chinese shares as investors take fright over president Xi Jinping stacking his pilot bureau with loyalists the hang seng index down by 4.8% this morning the CSI 300 index of Chinese shares down by one point 7%, the broader embassy is also down by two tenths of 1% some gains in trading on the Nike in Tokyo, Euro stocks 50 features 9 tenths of 1% lower this morning, S&P E minis are four tenths, excuse me, 9 tenths, 1% higher I should say in the stocks 50 futures, S&P E minis are four tenths higher, the ten year treasury yields 7 basis points lower this morning four spot 15. We are keeping an eye on the pound as well going into the day of political excitement in the UK. It's four tenths of 1% stronger on cable trading at one 13, 44. Those are the markets. And now on to our top stories this morning, former Chancellor Rishi sunak is emerging as the clear favorite of conservative MPs to run the country. Boris Johnson, who is prime minister until September, pulled out of the race saying he had enough support to run, but that it wouldn't be the right thing to do. Conservative homes, Henry hill, is skeptical about that claim. What we've seen from the last couple of days is the Boris camp of continually been announcing that they've kind of hit that hundred figure and then they've re announced it and then they've reenacted it and then apparently they ended up at a 102, but he's decided not to go for it. I personally suspect that he felt short. Nominations to be the next leader of the Conservative Party and prime minister close at 2 p.m. today. The Chancellor Jeremy hunt is endorsing Rishi sunak to be the next prime minister just hours after Boris Johnson withdrew from the race Bloomberg's UN paths report. Jeremy halton says that Rishi suni will be able to restore stability and confidence as the next leader of the Conservative Party, writing in the telegraph, the Chancellor says that sunac will turn the page on what went wrong, take decisions in the national interests and rebuild the potential of our economy. House of Commons lead to penny morden is still reportedly remaining in the race even though she's some distance from the 100 public declarations of support she needs from MPs. She has until 2 p.m. today to get to that threshold. If she doesn't, sunac will be the winner without a wider vote. In London, I'm your own pot. When it comes to the economy, whoever wins the Conservative Party leadership contest will need to focus on damage control rather than chasing meaningful growth. Bloomberg economics estimates that the fallout from trusses mini budget will knock 1.5% off the UK's GDP, PMI surveys due out later this morning are expected to show a contraction in the services and manufacturing sectors. And late last Friday, the outlook for the UK's credit score was revised to negative by moody's, which cited increased unpredictability, unpredictability in policymaking. President Xi Jinping's stat China's most powerful body with its allies giving him unfettered control over the world's second largest economy, speaking to the party's major gathering on Sunday, she committed to reforming and opening up the economy. China's economy has great resilience, potential, and latitude. Its strong fundamentals will not change, and it will remain on a positive trajectory over the long run. China will open its doors ever wider, we will step fast over deepening reform and opening up across the board. But to spice those words, markets reacted negatively to the president's move to surround himself with allies. And then top corporate news, Credit Suisse's chief compliance officer Rafael Lopez Lorenzo is set to leave the firm. That's according to people familiar with the matter. He was appointed in September 2021 after the bank was rocked by scandals over greensill capital and archegos. Credit Suisse is set to announce a major overhaul in coming days, but sources say this departure isn't related to the strategic review. Okay, those are our top stories. Let's just bring you Britain breaking corporate news on the terminal this morning from Phillips, which is announced that it is to begin a restructuring effort with around €300 million of charges in the coming quarters that will include cutting the workforce by around 4000 globally. So that is the latest news out of Phillips this morning, which has been announcing its results as well. Its third quarter adjusted EBITDA, €209 million, the expectation had been for 210 and a half €1 million, so missing on the third quarter results as well without announcement of restructuring there by Phillips. Well, let's go to the big political story of the day. Two years ago, a relatively unknown minister was picked as the next Chancellor by Boris Johnson. Today, Rishi sunak is the FrontRunner to be the next prime minister in what could be an astonishing rise to power, so will today see a coronation of Rishi sunak or will penny Morton manage to reach the threshold of a hundred MPs by the 2 p.m. deadline. For more, let's bring in our managing editor for European economy and government Ben sells Ben good morning. Good morning. Ben, let's talk about this contest. It's still going. Does penny more than have a chance? She definitely has a chance that Kauai a lot of Boris Johnson supporters who are probably going to lean towards more than rather than jumping into bassoon out camp. Even though it does look like sunac is going to be in charge sooner or later. I think the question for sunak is how many of those Johnson supports us can he win over in the hours before the nominations close. If he can stop getting to a hundred obviously, then she's not in the race. And as you say, it will be a coronation pursuing this afternoon Can Rishi sunak if he does eventually become leader, can he unite the party now? That's a really tough ask. Our colleague Alex Wickham wrote a really good piece about this on Saturday. And he was essentially saying that after 12 years in power, the reasons for different Tory factions to hate each other have just piled up in piling up and so the Tory party is in a state of internal conflict and division, which is one of the senior officials who spoke to Alex said worse than anything the party has seen in 200 years. Added to that, one of the big bones of contention within the party is among those loyalist Johnson who still blame sunac for portraying him essentially in July. And so it's a real tough ask. Well, then let's
WNYC 93.9 FM
"penny morton" Discussed on WNYC 93.9 FM
"Not get the money back immediately, but it's a research that's normally otherwise wouldn't have been done. Plus, some valuable lessons have been captured and exported. Courtesy of visitors, Mike, and mister Lakshmi. How to try to live your life very sustainable and there's a Thailand pavilion where I'm from. There's the India pavilion and all of them are showing how their country is being sustainable. While this optimism might not have been reflected in the turnout, a new horse district should eventually arise from this faris Al ground, although there is still debate over the cost and when construction can actually start. Flower power or the lack of it, that report from Anna holligan in the Dutch city of Al Mira. You're listening to the BBC World Service this is NewsHour coming to live from London with James Kamara Sami, Britain's ruling Conservative Party is turning the page on the short ill fated premiership of Liz truss next week. It's choosing a new party leader and prime minister. The first and potentially final stage of that process is on Monday, the party's 357 MPs get to vote on their choice of leader and to reach that starting block you have to have the backing of more than a hundred MPs, which is what Boris Johnson, the former prime minister says he had, although he has pulled out of the contest in the last half an hour or so, let's hear all about this from our UK political correspondent rob Watson. Boris Johnson, well, just tell us what he's done and where does it leave the party? James are truly dramatic developments by anybody's standards and even by the standards of recent British politics because Boris Johnson will not be making a comeback. And I have to say, it's not through any self belief or lack of desire. He says, he's ready for leadership confident that he could take the conservatives to victory in 2024, but impossibly the least gracious, most poisonous and incendiary with warp withdrawal statements in recent memory, James. He says, I think I would, but I'm fantastic. But the thing is that he'd reached out to the two other candidates at Rishi sunak and penny Morton's who just weren't prepared to get behind him and the national interest, so therefore he's going away. So he's withdrawing from the race, but it seems to me having taken the pin off of political hand grenade and chucked it at the other two candidates. Well, yes, Rishi sunak, the former Chancellor of the former finance minister is way ahead in terms of the number of MPs who have publicly declared they are supporting him. He doesn't have to be the clear favorite in all of this. Now, Boris Johnson supporters have been putting it out today that he also had reached that 100 MP threshold, although publicly declared numbers somewhat lower than that. Yes, absolutely. But look, to cut through all this sort of number gaming, basically what this means is that whoever wins and I guess this was always the case, James. It's just going to have a nightmare job, right? Because whether it's mister sunak, whether it's miss Morton's, essentially you're going to have a very unhappy, very divided Conservative Party with a sort of I suppose you'd call them a large minority of enthusiastic Boris Johnson supporters. Are they going to get behind whoever wins? It's going to be one hell of a struggle. Well, for there to even be a contest, penny morden would need to get more than a hundred MPs backing her and that looks pretty unlikely, right? And a lot of those Boris Johnson backers go for Rishi suno and go for her. You're absolutely right. Never say never in the current turmoil of British politics, but it is possible that Rishi sunak could just be the only one who passes a hundred and therefore he becomes prime minister. Tomorrow. But 2 o'clock, but the bigger point I want to make James is I don't think it really matters whether it's him or whether it's penny more than I just think the real problem and I think while the sort of crisis in British politics is going to roll and roll and roll and roll is because fundamentally the Conservative Party can't unite behind any particular leader and to complicate that. They can't unite behind any particular vision of exactly what sort of post Brexit Britain should look like the sort of Singapore on Thames low tax small state model seemed to blow up with the demise of less trust. But the party is struggling to agree on an alternative. So whether it's risky suit our penny more than my goodness are they going to have a job on their hands. Rob many thanks robots and they were listening to that and I'm sure you'll have an opinion somehow can rifkind a conservative MP for more than a quarter of a century. He left parliament for the final time in 2015, he had posts in the cabinets of Margaret Thatcher and John Major, and whom he served as both defense and foreign secretary sir Malcolm, welcome to the program. Thank you very much. We did a recorded interview before this program started, but it was immediately out of date because Boris Johnson has now pulled out. So I guess, well, it's not really very difficult for me to guess, having spoken to you about this before you'll be relieved, I suppose that Boris Johnson has pulled out. Yes, I'm intensely relieved because the only real risk was that sunac clearly was going to have the support of the very large majority of conservative members of parliament. But because the rules might have allowed Johnson to contest that and go to the party
Bloomberg Radio New York
"penny morton" Discussed on Bloomberg Radio New York
"Then the government won't let me do it. White House review concerns. Yeah, I know. I know. I know. A lot of market drivers there. All right, pretty good to bloomer markets correspondent in Bloomberg intelligence analyst Ben Elliot, thank you so much for joining us. Let's sit down and watch it in D.C. world of national news with Amy Mars. All right, thank you, Paul. The three months after his own party forced him to the sidelines following a series of scandals, former UK prime minister Boris Johnson appears ready to make a comeback. Bloomberg talked with will Walden, who helped run Johnson's successful 2019 campaign and served as his spokesman at city hall when he was London's mayor. He's got an elastic relationship with the truth. There was the Patterson affair at party gate, the pincher affair, the way he governed. It's also clear that Boris hasn't changed his mind. He thinks he's done nothing wrong. He's unrepentant. He thinks he's been hard done by. You know, choosing Boris is a huge risk for the Tory party and the country because of the state of the economy. But equally, there is no consensus around anybody, and that's why he's clearly in play. Well, Walden former adviser to Boris Johnson who may be poised to make a comeback as Britain's next prime minister's reportedly in the running with Rishi sunak and penny Morton. With a new book in January, never given inch former Secretary of State Mike Pompeo tells CBS he could make an announcement about a 2024 presidential run. Sometime after the first of the year. Somewhere after the first of the year, first got case isn't until the beginning of 24. But sometimes in the spring of next year, we will begin to turn our focus to trying to get that right. If we conclude it's not me. I'm going to stay in this fight. Pompeo is a former member of Congress and was both CIA director and Secretary of State under former president Trump. The EPA is launching a civil rights investigation into the recent water crisis in Jackson Mississippi to examine whether state agencies discriminated against the city by refusing to improve its water system. Global news, 24 hours a day on air and on Bloomberg quicktake. I'm Amy Morris, and this is Bloomberg. You could save big when you bundle your home and auto with progressive, but when we just come out and say it, it feels like it falls a bit flat. So instead we're going to have someone else say it, because for some reason when a random person talks about how
WNYC 93.9 FM
"penny morton" Discussed on WNYC 93.9 FM
"Okay, the race may not be that wide open, but after Liz truss lasted only 6 weeks, nobody knows who might take the job next. Half a dozen figures in the Conservative Party are seen as contenders, most have some kind of baggage or downside, and they include Boris Johnson, the prime minister who resigned amid scandal before trusted. NPR's Frank Langford has been watching events from London and he joins us now, Frank, good morning. Good morning, Steve. Okay, so I'm thinking of that old lyric from the who meet the new boss. Same as the old boss. Could that be literally true? It could be literally true. I mean, I'm still very skeptical and a lot of people are here too. I want to say that none of these candidates have actually announced, but there's already building public support. And the reason that I think this is actually worth considering is right now conservative home. This is a good website that covers the Conservative Party. It has numbers now showing that Rishi sunak, he's the former Chancellor. He's a 35 support from lawmakers in the parliamentary party, 19 for Johnson 11 for penny Morton, who is the former defense secretary. So over the weekend, we're going to see more and more people coming out to decide who they want. These are conservative lawmakers in the parliament and see by Monday who's getting the most support. Okay, so you have to take Boris Johnson seriously given that the same members of parliament who pushed him out at least some of them seem willing to push him back in or pull him back in. What is the argument against Boris Johnson? Well, I mean, how much time do you have? I mean, you've got to remember, this is a guy that just last summer, we were talking about a lot. He was basically tossed out by his own lawmakers because he lied about these government parties during the COVID lockdown. And people were people really angry about that here. They recognized that in the past Boris Johnson had lied about a lot of things. But this really, really bothered them. And what we found, I was just looking at some old polls from just even a few months ago. Nationally, 75% find him untrustworthy, two thirds found him incompetent and wanted him to resign. So the idea which you would hear from some conservative lawmakers that he could actually be because in the past he's won elections could help the Tory party, the conservatives out of the mess that they're in right now. For a lot of people, that just seems extremely unlikely. Now you did mention some other names earlier when you talked about that conservative site that was tracking members of parliament. Who were some of the other contenders? Yeah, so I think the person to watch right now is definitely Rishi sunak. He's at the top, and he came in second over the summer, lost the Liz truss. He is the former Chancellor of the exchequer, and that's important because the major problem that this country right now faces is economic and fiscal. And he has that background. And his original budget was a much more conserved, fiscally conservative budget, Liz truss went for something she went for unfunded tax cuts, and after the market actually actually ended up having to adopt the policies of the man where she soon act that she beat. The other person, penny Morton, is very popular also among the Tory faithful out in the countryside. And they're the ones who could ultimately have the have the decision here. So when you talk about ultimately having the decision, the Conservative Party in recent years has had this system where the members of parliament who would normally choose the prime minister don't make the final decision, they leave it to party hardliners out in the countryside. Are they really going to go through that again? They could. The only way that that would change is there's now about you have to have a hundred people in the parliament to support you. And if only one person makes that, then that person would become head of the party and prime minister of the United Kingdom. So if someone is overwhelmingly supported, among members of parliament, it goes no farther. And there's certainly a lot of hope that that will happen because the last two prime ministers didn't work out too well. NPR's Frank Langford, thanks so much. Great to talk, Steve.
Bloomberg Radio New York
"penny morton" Discussed on Bloomberg Radio New York
"As early as Monday. Liz truss will be the shortest term prime minister in UK history after resigning today. We'll have some more perspective from a guy who intimately knows the situation. Our Bloomberg John authors coming up in just a couple of minutes. A U.S. Secretary of State Antony Blinken says his main focus is on building an international coalition to stand up against China, starting with Taiwan. Ukrainian president volodymyr zelensky has told European leaders today that Russian forces have mined a dam in the occupied south it threatens thousands of people they say, White House has accused Tehran of sending trainers and technicians to Crimea to support Russian attacks on Ukraine with Iranian made drones. Chinese officials are debating whether to reduce the amount of time people coming into the country must spend in mandatory quarantine. Meanwhile, the government and China's Xian will not go into citywide lockdown. China says it started work on a monkeypox vaccine using a virus taken directly from a patient. In San Francisco, Ahmed Baxter, this is Bloomberg, back to Hong Kong, Brian. Hey, thanks very much. Time for our media review now from The Washington Post Doug mentioned this Elon Musk has told prospective investors that he plans to lay off about 75% of Twitter is 7500 workers. This would whittle the company down to a skeleton staff of a little more than 2000. Now, setting that aside, the post story says that Twitter's workforce is likely to get hit with massive cuts, no matter who owns the company, and this story is not suggesting that Twitter or that Elon Musk would back away from Twitter. From the South China morning post, the revised Chinese law makes the Shanghai party chief Lee cheung, a hot candidate for the job as premier, is said to be leading the race, even though he has never served as vice premier that has been a tradition in China. Anyway, the hurdle could be overcome by a law that was passed last year or revised last year. Lee would be named device premier by the NPC standing committee shortly. Now, the leadership shuffle will tell us a lot about the extent of president Xi Jinping's power. If you see Li xiang, we just talked about, or holy Fung, the NDRC chief, get the job as premier, then it's a big win for Xi Jinping. If on the other hand, we see Hu jinhua from the CPPCC or perhaps vice premier Wang Yang get the job, then that would mark a setback, or at least a compromise by sheep. And in the category of not the snappiest title, there's this one. The party Congress had a user entitled under the guidance of Xi Jinping thought on diplomacy forge ahead and strived to break new ground for major country diplomacy with Chinese characteristics. The global times quotes Chinese analysts as saying strengthening China's ability to fight on the diplomatic front means in understands the country faces an unprecedented threat from the outside world, especially from U.S. hegemony, which aims to contain China's development on all fronts. It seems like we're back to the old days where you get a lot of hyperbole out of China. And that is a look at the media was shot. All right, well, we are covering Liz truss as she quits as UK prime minister after a brief and chaotic tenure seeing her announce a massive package of tax cuts before unwinding most of it in the face of a market route. Let's discuss all this and the impact on global markets, which are invited John authors. Opinion economist John. After an economically disastrously ill timed mini budget, I'm going to paraphrase the legendary British satirical comedy just prime minister and of course Oscar Wilde here and the phrase to lose one cabinet minister was a misfortune to lose two carelessness to lose three ultimately political suicide. Yes, I think there was more to it than that, frankly. I think this was a crisis that hit British voters particularly conservative voters were at most hurt. In their mortgages, their mortgage rates. And it's made the Conservative Party look utterly ridiculous. And ridicule is not something a politician can survive. You can deal with it with possible exceptions for Donald Trump, but generally speaking, if you are made to look ridiculous, that's it. And arguably, actually Boris Johnson. Boris Johnson, well, yes, Boris Johnson eventually was forced out. And basically because not only did he, he has a great ability to or a charisma to get people laughing with him rather than at him, but the fact that people regarded him as a lying hypocrite and the fact that basically the reason the party got rid of him was because they couldn't trust him, still suggests that he's not the greatest exception to the rule. And amazes me, frankly, amazes me that the two most influential conservative newspapers in Britain are already banging the drum very hard for a Boris restoration. Which is an appalling development as far as I think. Well, it's difficult time you could see where a lot of politicians might not want to step in at this time because in politics timing is everything. I mean, even Liz truss's plan probably would have worked a couple of years ago in MMT was in favor. It's not now, and particularly with the monetary policy being so different from this type of plan. But if you were Rishi sunak, I mean, he must be his star must be rising again because he rejected so firmly the package, what he considered a good time because they wouldn't want to throw a second on the dust heap. Whoever gets put in place at the end of this election. You got a runway. It doesn't survive until the next general election. That is close to unimaginable. I think whatever happens, the parliamentary party is going to pull desperately behind whoever wins and frankly, even if it's a more factional candidate like Boris Johnson, he's going to try to make it a much more broad cabinet than it has been for a while. To keep the different elements of the party in check. In terms of sinek, you don't often get too many second chances in politics. There are exceptions, but he appeared to have his moments earlier this year, and if he's being given the second chance this swiftly, he would be foolish not to take it. Yes, this is a horrible time to take over as British prime minister. But if he does a good job of running the ship, gets things smoother, maybe saves conservatives from a total wipeout at the next election which looks possible. Then he's still a young man that sets him up very nicely for a future. I wouldn't not do it if I were him. I think similar arguments apply for to penny Morton. This situation is so awful. That it's difficult not to look better. It's impossible I would say at this point to look not to look better than this trust. So yes, this is a dreadful time to be trying to run Great Britain, but I don't necessarily think it's a bad time for an ambitious conservative politician to be prime minister for a couple of years. Well, also, as Brits go abroad, the final pound is worth less and less. That's not going to be exactly something that is going to be cheering the rafters. And what about the opposition? The opposition, the point I've made in the way of expressed it in columns, which I'm happy to stick to is the conservatives really can not win the next election at this point. But labor could still lose it. The precedent for that would be John Major, the guy who's put into try to maintain unity after the great defenestration of Margaret Thatcher, he was a safe, boring, uninspiring pair of hands, labor seemed so likely to win the election actually became about labor and a very decent guy who really didn't seem to be a plausible prime minister lost that election. For labor. I don't see Keir Starmer doing that. I think the chances of the conservatives not being
KOMO
"penny morton" Discussed on KOMO
"Thatcher's the line, the lady's not for turning. Well, people have been saying about Liz trus, who idolized Margaret Thatcher, the lady's not for turning up. One MP stood up to ask if in fact this trust was hiding under her desk at which point penny Morton had to actually say the words. The prime minister is not under a desk as the. It's become absolutely extraordinary. Prime minister has tried in her own fashion to apologize. She gave an interview to the BBC earlier this week in which she said sorry. Now I recognize we have made mistakes. I'm sorry. She's been forced to replace her finance minister. Very soon into her tenure as prime minister quasi quoting is out. The man with whom she formed all these policies. He's been replaced by Jeremy hunt, who's seen to be a bit of a kind of a well-known statesman in Britain. He's held a number of ministerial posts, a senior member of the party, who most people say is prime minister in everything but name. Basically, let's trust his great promise in order to become leader of the Conservative Party was that she wanted to cut taxes in order to promote growth. And at the moment, we got the highest taxes for 70 years. That's why I believe in lower taxes to get growth going to encourage businesses to invest. And that way there'll be more money in people's pockets. You've got to remember we live in a post war welfare state in Britain and in most of Europe, whereby we do have public services that are paid for by the public purse. We have health and education. Law & Order, these are things that are massive government funded projects. They might sound nice, but actually in practice, cutting taxes tends to send inflation up and not down. And so basically every single developed economy around the world, every single international monetary organization was saying, every country needs to work out ways to bring inflation down. This is a worldwide problem, and Britain, you're going to send inflation up by doing this. And that is what freaked the market so much. The British pound slumped to an all time low against the dollar in investors continued to dump British government bonds in a protest over a sweeping tax cut plan announced in London last week
Bloomberg Radio New York
"penny morton" Discussed on Bloomberg Radio New York
"This is Bloomberg daybreak Europe. Simple reality is we're seeing inflation everywhere, maybe the economy will stagnate, but it might also fall into a recession. We do see a softening of economic conditions in the second half of the year and potentially a recession at this point in a modest recession. We are, of course, watching central banks, reaction to that inflation. If inflation continues to be here, of course, it will be reflected also in pain. Bloomberg daybreak, Europe, on Bloomberg radio. It's 8 30 in London 9 30 in Paris and Berlin good morning. I'm Stephen Carroll. And I'm Lizzie bird and you're listening to Bloomberg date break Europe. We're 30 minutes into the trading session here in Europe, stock 600 index up by two thirds of 1% the FTSE up by four tenths of 1% the cat carot in Paris pushing a little bit higher up 8 tenths of 1% the Dax is up by 9 tenths of 1%. The FTSE may be initially up by 6 tenths of 1%. S&P E mini futures have pushed further into the positive space as well. They're now up by a third of 1% NASDAQ features are up by a half of 1% and in the bond markets we're now seeing a drop in yields across the European space, the ten year bond now trading at zero 89. On today's top stories, the UK economy is probably entering its worst slump since the coronavirus lockdown at the start of 2021. That's according to a survey of economists by Bloomberg, which found GDP for the second quarter shrank by .2%. The official figures, though, are out on Friday. Former prime minister Gordon Brown says more action is needed now to help low income households in the UK. Children are going to school ill clad in Hungary. We're seeing mothers embarrassed that they can't give the children the basics that they need. We're seeing young people demoralized because they can't do the things that there are other friends are able to do. That's former prime minister Gordon Brown, a report he commissioned found that low income households will typically be 1600 pounds worse off as a result of the cost of living crisis. Brown is calling for an emergency budget. The conservative leadership FrontRunner Liz trusts meanwhile is reported to be planning a rapid national insurance tax cut if she becomes the next prime minister. Now she's been quoted at saying it's just missing handouts, but her supporters, including former defense secretary penny Morton, says her words have been twisted. That's a misinterpretation of what she said. What she is looking at, though, is enabling people to keep more of the money that they earn. It makes no sense to take money off of people and then to give it back in very, very complicated ways. That's former defense secretary penny morden to the national insurance policy card has been criticized by her rival former Chancellor Rishi sunak, who says that tax cuts aren't the right approach to tackling inflation. Meanwhile, SoftBank has reported a record $23.4 billion quarterly loss. The sell off in global tech stocks continued to hammer its vision fund portfolio of investments. The world's largest technology fund holds large stakes in hundreds of unlisted startups, but low tech valuations have been draining SoftBank's ability to turn public listings of its portfolio companies into liquidity. The U.S. Senate has passed a landmark tax climate and healthcare bill with details his Bloomberg's Ed Baxter. The top 1% avoided the tax increases liberal Democrats had wanted at the beginning. There will be attacks on stock buybacks, the legislation also aims to prevent large corporations from exploiting tax breaks and there will be a 15% minimum. It did not raise the salt deduction. On the climate side incentives to cut greenhouse gases with the hope to cut emissions by about 40% from 2005 levels by the end of the decade. It will extend the $7500 tax credit on EVs, but they'll be restrictions that U.S. electric carmakers say will exclude 70% of vehicles. And Medicare will be allowed to negotiate drug prices. In San Francisco, I met Baxter Bloomberg daybreak Europe. Sticking with the U.S. a 50 basis point rate increase isn't locked in at the fed's next Central Bank policy meeting according to San Francisco fed president Mary Daly. Speaking to CBS's face the nation on Sunday, daily said that rate decisions need to be dated dependent. But former treasury secretary Larry summers told Bloomberg the fed needs to get a grip on inflation now. I don't think the fed has the thread right now. Now when we're seeing wage inflation, unambiguously after this number accelerating after this number after the ECI after the Atlanta fed, we have by every reasonable measure of core inflation, inflation running somewhere plus or minus 5%. That is not acceptable by any dimension. That was former treasury secretary Larry summers speaking to Bloomberg, a strong jobs report on Friday has boosted another support for another 75 basis point rate hike by the fed, U.S. employers added 528,000 jobs in July more than twice what economists had forecast. Taiwan says it won't bow to pressure from China after days of air and sea military drills in areas all around the island. China's military says it conducted exercises focused on testing joint long range air and ground strikes yesterday, U.S. Secretary of State Anthony blinken says tensions need to be deescalated. China has chosen to overreact and use speaker Pelosi's visit as a pretext to increase provocative military activity in and around the Taiwan strait. That was U.S. Secretary of State Anthony blinken Beijing has carried out its most provocative military drills in decades in the wake of high speaker, Nancy Pelosi's trip to Taiwan last week. China says her visit was a violation of the U.S. pledge 50 years ago not to formally recognize the government of Taiwan, which China claims as its territory. All right, there are top stories. Let's bring in leann garran's back in the studio, not out of breath this time, I hope. For a look at some of the events we'll be following throughout the week. Yeah, I didn't run and heals this time. I've been settled, so I can't breathe. Yeah, let's take a look at some of the events as you just said, Lizzie will be following throughout the week right here at Bloomberg. So today talks aimed at salvaging the Iran nuclear deal I expected to continue over in Vienna, the U.S. China and France or publish they inflation data that's happening on Wednesday. Then on Thursday, it is U.S. PPI and initial jobless claims, UK and Russia DDP round out the week on Friday. In earnings will be keeping a close eye on Walt Disney, which reports their earnings on Wednesday, and a bit of global news tomorrow, Kenya is heading to the polls for one of the closest elections in the nation's 30 year old democracy. President Uhuru Kenyatta is stepping down after two terms and right here at home, it's the final day of the Commonwealth Games in Birmingham. Okay, Leon, thanks very much for all of that. Time now for London Russia we carve out some time to highlight UK businesses making announcements in London. We've got Bloomberg's breaking news out of Charles capel with us. Charles on usually dressed up. I noticed you aren't going to be television earlier. I was top bottom and dirty. He's going to an Oscars after party at some place. This is the sort of youthful glamour that you get to have when your child's capable. Charles, you've been looking at veolia selling Suez UK unit. Yeah, that's right veolia will sell that UK unit to macri group. It's €2.5 billion, and that deal is basically just resolved some antitrust questions. It's from the CMA who in May said that the deal may reduce competition in the water and waste treatment services which it could in turn
Bloomberg Radio New York
"penny morton" Discussed on Bloomberg Radio New York
"Bloomberg opinion informed perspectives and experts data driven commentary on breaking news. And now it is 9 21 a.m. here in the City of London so time to check in with our Bloomberg opinion columnist Therese Rafael is joining me today. She's been writing about the Tory leadership contest in Britain, which will of course also decide who is the next prime minister. You say actually the choice between these three candidates that are going to be whittled down to two is actually already pretty grim that they lack the charisma and the experience to push the Conservative Party and Britain forwards. You know, never going to get everything in one candidate, of course. But the choice facing the MPs is really which two do they want to put in front of the membership, the selectorate of a 160 or a 180,000? Exact number that are going to make the final decision. And who they knock out today is quite important because each of these candidates is coming forward with a particular offer. The choice really seems to be between Liz truss and penny Morgan to accompany where she sees that. Let's be clear that nobody can guarantee that Rashida is in that final, but that does seem very likely. But this process of penny Morton are two very, very different political and personality offerings for the membership. And they match up quite differently against where she sumac as well. And yet, both women have faced criticism in terms of their economic, agenda, and given the cost of living crisis, you raise this in your piece and obviously inflation rising the CPI figure even higher than expected for June that broke just this morning. You would have thought that it's the former Chancellor that would be a shoe in, but it not necessarily. Yeah, you would have, but he's really lost a lot of sort of power with the electorate with the Tory members. And largely because of the rise in the tax burden, I think it also seems to not help him that he comes from his own family and his wife's family is very wealthy. That's something that penny Morton seems to have really emphasized in her own recent video to members. I mean, the next conservative leader is also taking over a G 7 economy. And from that perspective, given the cost of living crisis inflation, Ukraine, you'd expect that the members to want to go for someone with some proven experience in office. And I think that works against penny Morgan. But she has something that Liz truss doesn't and that is an ability to kind of connect with people a sort of charisma that the foreign secretary by her own emission is weaker on. Yeah, absolutely credibility versus relatability how you put it in the piece. Yeah, it's a very kind of interesting moment, isn't it given the concerns around the cost of living and inflation in Britain, who is going to steer the ship in Britain forwards. Therese, thank you so much for being with us. It's been both Therese Raphael, the cruelest cut in the Tory leadership race. She's talking about how MPs are going to whittle down the field to just two candidates to be presented to the members. They'll vote on that after 6 weeks and then the result of that we'll see the next prime minister in September, at least that is the plan. Coming up next on Bloomberg daybreak, Europe though we're going to turn away from our opinion column and look at the energy issue for Europe world Gazprom turn up the heat and leave Europe short of gas will
Monocle 24: The Globalist
"penny morton" Discussed on Monocle 24: The Globalist
"And modern remains. Tay hiraki, heroin, from New Zealand's caranga iTero international repatriation program. You're listening to Monica 24. 8 37 in Paris 7 37 here in London, you're with the globalist, let's continue as a newspaper. Joining me in the studio is a political journalist and author Terry. Good morning, Terry. Good to have you back. We are taking shelter in a very, very thankfully cold studio. Step outside and we go into a furnace which is covering the whole of Europe. Yes, supposedly the hottest day possibly the hottest day ever here in London today. We will see how that goes. And the front pages of all of the papers reflect that. So I was just looking at The Guardian here, Boris Johnson accused of checking out as Britain's swelters in searing heat. It was in the times crazy heat stops trains and melts a runway. But let's have a look at what's going on in France, which is really serious. And in le figaro, it is talking about these dreadful fires that have been affecting the Germans. And I think somebody has, in fact, been arrested for possibly starting these fires. But this report is telling you about what it's like on the ground there. And it says that 17,000 hectares of vegetation have caught fire. And according to this article, the task for the fire brigade is made much more difficult because the wind keeps changing direction. So the commander is saying that it's not linear. So suddenly you can be fighting the fire on, say, the right hand side of a forest fire and then if the wind changes, suddenly through 90° and then turns comes from the west where it had been coming from a different direction. They suddenly have to move all the firefighters out of the way and their equipment all out of the way because then the fire is obviously moving in a different direction. So fighting fighting this fire and as well they've had to evacuate 8000 residents near Alcatraz and as well as the 16,000 holiday makers who have had to up sticks since last Tuesday. It's an astonishing article because it ranges widely. And as you mentioned, there are what 16,000 holiday makers a beda cash on was a really, really famous, beautiful destination on the West Coast of France. It has the highest I think it's the highest sand dunes in Europe. The dune de pila. The fact remains is that we have an area which is so beloved being absolutely devastated and arguably permanently because of this. Yes, I mean, this is an area. It's the West Coast of France, which so far has seen the worst of the heat, and you're more used to this in the south, probably on the Mediterranean coast than you are on the Atlantic coast. And liberation also explains a bit about why these fires. I mean, forest fires are quite, you know, they are quite common, particularly in the South of France and I've sort of seen them and often seen the Canada as the big water bombers come along and drop drop water on a fire and fly off, scoop more water up and drop it again. That's quite a regular feature, but in the girondin they're saying that these fires have gone up liberation reports, particularly because it's pine forest. And that's, as you say, one of the famous attractions of the area. But because the pine forest, the light apparently can go through, the undergrowth catches light, and then the forest goes up and apparently this is compounded because there were storms in the Laurence area in 1919 and in 1919 1999, let's get the right century. And 2009, but because of that, the trees that have been planted are only about 20 years old and are very vulnerable and therefore more likely to catch fire. So they're saying this is like these forests are like a powder keg. It is astonishing because this article in Libya immediately transforms its reader into a geothermal forestry expert. It's quite quite fascinating. But there's also the fact that it does say that the pines are equipped to regenerate after fires after a while. But there's the idea that climate change could actually make the future of France, France's southern forests. Different because pines may be unsuitable for the South of France because of this very flammability. Yes, I mean these are completely characteristic, you know, the different types of pines, it's something that you'll see there a lot. And as you say, to a certain extent, they are used to having fires and things regenerate and things grow again. But as this article points out here, this is what you can fear. If these fires repeat themselves too much, even the pines will not be able to grow and they're saying it calling it a biological regression and these forests will turn into places where there aren't trees anymore. This heat wave is moving north, it's heading to Belgium and it's heading to Germany and the German papers are obviously anticipating this as well, aren't they? Yeah, so the suit Deutsche sighting is running a live blog on what's going on and it's saying that Germany is expecting the hot certainly the hottest day of the year, but possibly could beat records for heat, particularly again in the west of Germany along the Rhine saying that the Germans record temperature, which has been 41.2° and in 2019 could be beaten and there again advising people on how to deal with the heat in an area of the country that isn't particularly used to it. Well, this is an issue, isn't it? I mean, the zoo desert item talks about the fact that you need to have a good care plan for people in care homes. And if you look at The New York Times today, it says in a country more than accustomed to temperate weather, talking about the United Kingdom, a brutal heat wave has tested Britain's infrastructure. There is a sense that we are not ready for this. We are not equipped for this. I mean, if the runway at Luton airport can melt, then that's an indication of just how not prepared we are. Yeah, I think some people, you know, we see that some people have been planning it for, for instance, you know, the railways they've been trying to paint the rails white so that they reflect the heat and the railways don't buckle, but we are not used to it in this country. I mean, in France, they had the sort of catastrophic heat wave nearly 20 years ago in 2003, where thousands of people died. And so after that, the government did realize that they had to update their advice and tell people. I wrote, for instance, I remember them telling people elderly people to go and stand in the sort of frozen food aisles of supermarkets to try and just try and stay cool, but sounded a bit silly, but you think actually well maybe that works it's somewhere that's got air conditioning in his cooler. So they have had an experience of that, but other countries in the north and Western Europe aren't as used to it. And maybe we become used to it or try to change things quite radically. Right. Let's move on away from fires and heat to a strangely cool and lackluster Tory leadership contest. It's a difficult segue, but I for one I'm finding it very hard to get excited about the fact that our next prime minister is coming from a bunch of people who are popping up on the television every couple of days and getting increasingly bad tempered with each other. Well, yes, another decided not to pop up on the television anymore because they were far too bad tempered with each other. There was supposed to be a debate this evening that is now no longer happening because two of the frontrunners Rishi sunak, the former Chancellor and Liz trusts the foreign secretary have said that they don't want to do this anymore, precisely because they were beating each other up too much about it. But so the latest development in this is that we are now down to four candidates, and this is kind of, it is quite drawn out, as you say, it's a round of voting, almost every day. One candidate, the lowest placed one, goes out, then we go down and by the end, by the middle of this week, we will have two left in the race and then Conservative Party members will be able to vote. But what we're seeing today is the briefing and counter briefing that we've had throughout this campaign, so support to the guardians reporting this morning supporters of Liz truss, the foreign secretary saying her key rival, penny morden has topped out of backers because Liz trusts managed to increase her vote in the last round of voting. And penny Morton, who was still in second place after Rishi sunak has lost a vote in the last round of voting. One of them, Tom happ has gone out, and now everybody is fighting over this next batch of votes, next batch of 31 votes from the last defeated candidate to see how this narrows down as we get towards the final two. Terrence, thank you so much for joining us on monocle 24. UBS is a global financial services firm with over 150
Monocle 24: The Globalist
"penny morton" Discussed on Monocle 24: The Globalist
"Untypical this was of British politics. It was a moment in which British politics was really trying to salvage itself from a monumental collapse of trust. And in fact, it just turned out at least in my mind to be deeply unsavory. It seemed toxic that these people were all attacking each other, and there seemed very little love for the candidates from the studio audience. I think you're right, Georgina. I thought it was abrasive, and it was irritable. And I don't think people like that, incidentally. Because penny Morton came closest to saying, look, if you're going to run a government, as prime minister, you're not a president, your premise into Paris, or the first amongst equals, you've got to work with other people. And it's not didn't look very much like they were going to be able to work together. There is a problem. And I would have thought that the main beneficiaries of these two debates was the labor opposition. I mean, do you consider that the winner of this contest will have a mandate to rule when most of the country are unable to vote in the election? They will have a political constitutional mandate because that's the way things run in this country. They will not have a democratic mandate. And we have to go back to 2008 when Gordon Brown as a result of a deal with Tony Blair took over the leadership of the Labor Party and became prime minister. And failed to call an election. And it was a fatal strategic error on his part. And I suspect it would be a great error on the part of any of the people winning this election if
Bloomberg Radio New York
"penny morton" Discussed on Bloomberg Radio New York
"One percentage point when they meet in late July, according to pricing in interest rate futures markets, it comes as the U.S. consumer price index for June hit a fresh four decade high of 9.1% in data released yesterday, fed bank of Atlanta president Raphael bostic says everything is in play to combat price pressures. He's a non voting FOMC member. Now the Euro has crossed a major threshold dropping to parity with the dollar for the first time in two decades that it appreciation has been swift given the Euro was trading close to $1 15 in February. It's all the more remarkable given that less than two years ago ECB policymakers were concerned about excessive Euro strength leading to an inflation undershoot. And Deutsche Telekom has sold a majority of their tower stake for €10.7 billion to a group of North American investors, a join bid from Brookfield asset management and digital bridge group was accepted this morning and it will grant them 51% of the tower's business and the portfolio is valued at €17.5 billion. The deal is one of the biggest digital infrastructure transactions this year. Global news 24 hours a day on air and on Bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries, only Ann gerrans, this is Bloomberg, Steven. The Anne, thank you very much for that. Well, the field of candidates for the Tory leadership is now down to 6 after another round of voting they'll be more voting later today former Chancellor Rishi sunak currently leading the race with the most support from MPs but try to be more voting later today former Chancellor Rishi sunak currently leading the race with the most support from MPs but trade minister penny Morton has also emerged as another FrontRunner joining us now to discuss his Bloomberg's James Wilcox James. So Rishi sunak and penny morden, looking like the two front running candidates at the moment. At the moment, good morning, Stephen. But what we have to remember is this isn't a normal election and there's an electorate. It's all conservative MPs and that means that we might see big, big shifts that movement as they judge both who they think is most popular amongst themselves, but also who they think is most likely to win the election. That's why penny Morton has been causing such a stir because she is someone who's been relatively unknown, especially compared to Richie sunak, who half the country until they know according to a recent poll. And her sort of outsized roasting sort of score in this most recent thing is why there is such a buzz around her sort of new candidate. Okay. Meanwhile, Liz trust, who's the foreign secretary, looks to be struggling and a former rival to Boris Johnson Jeremy hunt got dropped in the first round. The former Chancellor cats are very shortly and it seems that Harley so it just goes to show how vicious and brutal this contest is and how likely it is to sort of shift around further Caroline. I mean, three things you should watch out for is will this American around penny or riches the frontrunners kind of accelerate? Will MPs go? They're clearly the most popular. We want to bring this to an end quickly. We should get behind the two of them. Will there be sort of more category voting? Well, when people start shifting, there have been accusations already that Rishi is one of the bigger sort of figures has been throwing votes to kind of lesser known MPs. So we have an easier ride. Now those are completely unsubstantiated, but is fascinating to the vicious briefing around this. And the third potential thing to watch out for is will Boris Johnson get involved. He has refused to comment both for us, but as we head into further debate with big hustings, there is a greater risk that people start saying things. They dislike about his regime and his government. Will he just be quiet through that? It's unlikely, but will he sort of define himself or define a candidate by coming out for or against? James take us through the timetable. What are the next steps that we need to watch out for? So we'll have another vote coming today. There is chatter but unsubstantiated about even more votes coming today. And so from now on, every vote will eliminate the weakest contender. And they hope to get that done by the 21st of September. We then also then have TV hustings channel four on Friday, one on ITV on the Sunday and on Monday. And that will set up the candidates to be able to say to other MPs that they are the most popular amongst the country. And so it's quite possible. A lot of sort of political press. I'll curious about what happens over the weekend when all these MPs go away from parliament and try and debate if they can bring this concept to a close as fast as possible. Because that is the one thing that's coming out of the Tory MPs the most. They don't want to be doing this all summer if they can avoid it. Yes, the only 1st of July, the big date, of course, around getting the MPs trying to narrow them down to the two. That says the parliament goes on recess and then the course general election of the Tory membership will happen over the summer with that scheduled they want the new prime minister in place by the 5th of September. Yes. And also, I think we have to think about policy too. We've heard a lot on taxes so far. I mean, given that the UK tax burden has now gone up to the highest since the 1940s, that's perhaps not surprising, but there are plenty of other issues. Have they said any more on policy James? Well, they have Carolyn, but it's almost interesting how much is being said, but not said by which everyone has talked about taxes and tax cuts is the only candidate to say he will keep taxes where they are asked. However, the big looming question is, if you're going to make half cuts, where and how, many sort of ideas have been floated about cutting civil service or lowering national insurance, but quite what exactly will be done to sort of actual services or which sort of departments will get the cuts. No candidate has been that clear yet. And that is going to be the key policy distinction because it's all very well to say you're going to cut taxes. But 12 years into government, you have to be a bit more specific about where the economic pain is going to be fair. And as yet, it's very much still to play for on the economic front. Yes, the ugo of polling around this is saying that it's given head to head figures to the various different candidates and according to YouGov's polling if it's sunac versus penny mordent that the chat former Chancellor would be 28% versus penny more than 67%. Interesting to see as those two emerge as the frontrunners, how all of that is playing out. James Wilcox, thank you very much for taking us through all of the latest on the conservative leadership that next poll will be as a James is telling us later today and then we will move towards that idea of getting to those two final candidates by the 21st of July. You absolutely soon act in the first round of the first ballot of voting got the support of 88 MPs penny Morton 67, some people have said, oh, that looks low for Rishi sunak. Liz truss got 50 chemi bade knock 40. Yeah, coming up next on
Monocle 24: The Globalist
"penny morton" Discussed on Monocle 24: The Globalist
"Welcome back to the globalist Georgina Godwin. In the UK yesterday, elections took place for the executive, the 1922 committee, a powerful backbench panel chaired by sir Graham Brady, which has the ultimate responsibility for setting the rules in any Conservative Party leadership contest. The newly elected members then met to decide the rules procedures and timetable for the race to replace Boris Johnson. Will join me in the studio is journalist Lydia Burke. Good morning to you latika. How is this going to happen? Can you explain the process? Yes, we have a much clearer idea now. Thanks to the election of that backbench committee, last night they announced the rules and it requires candidates to have at least 20 endorsements to make it through onto the ballot. Now that's as of tomorrow night when voting begins in the first round and of course voting we're talking about conservative MPs in the first stage. So that's how it works. Now, after the first round of votes, they will be eliminated. The ones that fall away. If you don't have 20 votes, you won't get through. And there are a few candidates that are looking like they just won't make it onto the ballot. But we have three candidates already straight on. Rishi sunak clear lead. Penny Morton and then Liz trust. So they're all over the line. Then after that, they'll require 30 votes to stay on. And they'll have run off votes until we get to the final two. And we should know the final two on Thursday. So that's Thursday, the 23rd day this week. Right. Thursday this week. And then what happens? Well, it's parliament's on its summer holiday. So I mean, in a normal time, of course, all the MPs are happily down tools and golf on their breaks over August. This is going to be a very active August in politics. You will have the two candidates, whoever they are and we can safely assume I think that Rishi sunak will be one of those. They will then have a series of hustings. So they will face MPs in the membership for votes where they'll be tested on their policy ideas, and that's going to be quite a dangerous time for both candidates because they will be really, really subject to scrutiny by their own membership. Then the voting will take place and we will know the result on September, the 5th. And so with the final vote, who is eligible to vote. Conservative Party members and there's about 200,000 of them. So if you and I know a few friends actually who signed up before the last conservative vote involving of course Boris Johnson and Jeremy hunt, if you're a Conservative Party, member since then or before perhaps, you're going to get a say in this. If you're not a Conservative Party member, you just sit on the sidelines and watch like me and you. And then come election time, you'll of course get your say. But on the actual decision about a leader, this is a choice for the membership. And you have to have been a member, I think it's for three months. That's right. So you can't just suddenly sign up tomorrow if say you like Rishi or penny Morton, all this trust. So during this period, Boris Johnson remains as prime minister. Yes, and he made his first comments yesterday quite interestingly. It was asked who he's going to support, we certainly know who he's not supporting. That's Rishi sunak. There's quite a vicious campaign, actually. There are very vicious campaigns about nearly all the candidates circulating. But one that's particularly circulating. It's from Boris Johnson's people who see Rishi sunak as a deceptive figure. They believe that he was plotting behind Boris Johnson's back and had his leadership campaign all ready to go. So he's definitely not supporting Rishi sunak, but he wouldn't say who he was supporting. And this is really critical because what you're seeing take place in the Conservative Party now are a handful of rights. Let's just use that term, but really what that means is that you're right, very Brexit. And a lot of these candidates is about three or four they're splitting the vote. And there's no clear consensus amongst this very, very dominant faction in the Conservative Party about which candidate they'll call us around. And there's a real risk here that they won't get any candidate up. It could be Rishi sunak and penny Morton's rather than say Rishi sunak versus willa braverman or Rishi sunak versus Liz truss, who actually did campaign for remainder in the referendum, but as now refashioned and rebranded herself as a very hard Brexit, but that wasn't actually her political leadings at the time. So it's really fascinating. Boris Johnson said he did not want to wish a kiss of death or whoever he was announced to be supporting, which I thought showed some remarkable self awareness for a change. Yes, absolutely. Now there has been concern though that, of course, he would stand again, but he can't, can he? That's against the rules. You have to be an MP to stand and you are not allowed to stand if you were present the leadership. Now, what could take place though is say you got a very strong Boris candidate in pro Boris candidate in, let's just play this hypothetical and say it's still a brave and the current attorney general. She is being backed by a strong faction within the European research group and a Tory internal pressure group called conservative way forward. They're very thatcherite. Now say she got up. There's nothing to rule her out bringing Boris Johnson back into cabinet should he want to do it. That's fairly unlikely if you are Boris Johnson to want to accept that because that's of course a huge demotion to be prime minister and then sit in someone else's cabinet. But there's technically nothing preventing Boris Johnson being back in the cabinet should the prime minister minister of the day wish it. Now there seem to be so many problems facing this country at the moment. Yet the major campaign issue appears to be tax. Yeah, this is really, I think, very risky for the conservatives. They are carrying on and spending like drunken sailors saying that they are going to cut taxes, increase defense spending, very little clarity on how they will fund this at a time where the books are not in balance. I mean, I used to think that conservatives argued for tax cuts once the books were in ballots, and that was the hallmark of their fiscal austerity or fiscal prudence. Now we're seeing a situation where they are just throwing money around like there's no tomorrow. There's one candidate who is not doing that. And that's Rishi sunak. And you might have noticed in his very slick campaign video launch. He had this really intriguing line where he said, I'm going to be the candidate who doesn't tell you comforting fairytales. And by that, he means I'm not going to be like every other candidate who's going to tell you you can have your cake and eat it too, that we can run the biggest debt and deficits we have and fund tax cuts and not fuel inflation any further. And I think that there will be in the Tory party membership, not so much the MPs, but the membership. That will be an argument that they will be very receptive to.
Bloomberg Radio New York
"penny morton" Discussed on Bloomberg Radio New York
"This is Bloomberg daybreak Europe. It was a breakdown in the sense that MPs, ministers, all the public, couldn't rely on information that was coming out of Downing Street. So the blame for it when historians go back over the series will largely lie at his door. I know that there will be many people who are relieved, quite a few who will also be disappointed. And I want you to know how sad I am to be giving up the best job in the world. Bloomberg daybreak, Europe, on Bloomberg radio. It's 8 30 in London 9 30 in Paris and brilliant good morning. I'm Stephen Carol. And I'm Caroline hecker. You're listening to Bloomberg daybreak Europe. We are half an hour into the equities trading session here in Europe. The stock 600 trading, just slightly below the flat line, the FTSE 100 down, just tipping into the red as well. The cat carrot tipping in the other direction or by about half about four hundredths of 1%, the Dax, down by ten to 1%, the FTSE map is flat in Milan as well across the stocks 600. We are seeing a mixed picture across the baskets energy shares leading the gains of 1.3%, real estate, the bottom of the basket down by 9 tenths of 1%, looking towards Wall Street, the S&P E mini features are down by three tenths of 1% oil prices moving negative near WTI dead by three times 1% at a 102 45 the room drama spot index is three tenths of 1% stronger. And now to our top stories, the Japanese government has confirmed that the former prime minister Shinzo Abe has been shot in the western city of Nara during a political event, during a speech earlier the current leader from yokoi said that Abe was in a grave condition, but he was hoping for a recovery. He also added that medical staff are doing their best in treating arbe Kyoto news is reporting that police have arrested a man in his 40s here is Bloomberg reportedly to do on Japan's reaction to the shooting. I think the general reaction has just been total shock that such a thing could happen feeling in Japan where shootings are extremely rare. It's facing possible to get a gun rates of gun ownership here about the lowest of all G 7 countries. It's also the height of election campaign season here. So because the upper House elections are set for Sunday and politicians across parties have come out of surprise and sadness is such a new happening and the opposite the best wishes. That was pretty big reportedly to do the prime minister for miya kishida has now canceled campaigning and returned to Tokyo. Would be contenders to be the next leader of the Conservative Party and prime minister working out if they have enough support to launch leadership bids following Boris Johnson's resignation yesterday. Commons foreign affairs committee chairman Tom tugan dock foreign secretary Liz trust, defense secretary Ben Wallace and trade minister penny Morton have already thrown their hat in the ring despite stepping down Johnson says he intends to remain in office until his successor is elected. It is clearly now the will of the parliamentary Conservative Party that there should be a new
LBC Election 2019
"penny morton" Discussed on LBC Election 2019
"Remiss that they would like her party champion In the old days that would have been seen as a bit more sideways me because that was always seen as the plum job to have outside the top. Three nowadays less. So i write. I'm last week and indeed next week on chasma when the telegraph certain a mini chose mill. Which has more light. And i wrote a piece about kelsey. I mentioned five different Paid tend to the cabinet. of course. now. I'm gonna forget he. They us look it up on website. Because i put it on that whilst going jillian reynolds jillian vinyl. She's a radio. Revere jillian keegan would be one who i think. Probably she's. she's a pass not minister estate. But i i'd like to think she would be considered. Because i think she's she's got a good way of communicating not teams a hallway. Think ought to be shoe in penny morton. I think ought to come back into the cabinet against somebody who's good on tv but he's regarded as a renegade kenny bat. An oak will rather i think she is seen as an upcoming stall. But she's offended a few people as well james hippie He'll is done quite well. I think he's done very well. They didn't copybook this week crabby. He got something wrong about A former soldier in afghanistan committing. I thought i think generally he's done really well as a defenseman so those few even if it again the cabinet i think they will. Some of them will be promoted but in terms of people being sacked I find it difficult to see what he have seen conservative. A tool but again he might come leader of the house of commons. Okay back to being chief whip. I see he is. Yeah you're right. what about i mean. It's not sort of quite reshuffled territory. But what about banana. viet casino. co-chairman it. Yeah yeah All the suggestion of you know using his rolling. What's it called. Quintessential see what for people access. I mean it's all a bright old sniff about it has net. He's been warned off this week by the The sort of is not really a regulator. Is it offer the watchdog for being that. Although they found he hadn't been engaged in lobbying activity. They urged him to be cautious. An ensure his two roles remains separate. Well that sounds like a show across the bows to me is he is he is he. That were the fit to the prime minister. I not only stance. I think that i. I've never been founded this idea of having a dui was party chairman all chat people whether you want to call them. It doesn't work. it never has done I think if he wanted to make pretty puto polity having to say right we get gonna really bump up the importance of this paste at. He won't have ince chapman but equals at elliott's wanna bananas roses to bring in the money. Exactly yes..
The Red Box Politics Podcast
"penny morton" Discussed on The Red Box Politics Podcast
"Amil get you on the way to right. How infield is coming up. I is thursday's columnist penalties nightmare. It's india night and james. So let's start with a books today. Because i was the. Mp's are packing up and heading off on that. Some holidays will also worked very hard to their constituencies of course and the publicist association. That's one hundred twenty five years old this year and they have asked. Mp's pays journalists for their some of weeding recommendations and james. You've been casting an eye over the list water. mp's goes through reading on their son lounges. It's interesting all visits to always was a bit random. I think the main to the theme emerges everyone's trying to show off a little bit and labor and and conservative. Mp showing off in slightly different ways labor. Mp's are trying to of read books. That sort of they're showing by reading books. That bit trendy unconservative impeach trying to show off by reading books to the very old very as my as my is my take on this. I think the most of the most intriguing the most intriguing really recommendation is boris. Johnson who says he's reading even wars mobile scoop on holiday which of course about an incompetent journalist who stumbled into the wrong job which is not the analogy was thinking of well. I better is. it's just funny. You'd probably think. Just funny. But i just sort of skewed officers. The ultimate is the absolute ultimate journalists book. Every journalist will boreham mom about it kind of shows that he if he genuinely reading scoop and maybe just picked up random That shows appropriately. Here's a he's still journalist a have. You've seen this as well as india which we talk to you. It's really fascinating this list. Actually as you can tell us about people by what they claim they're going to read. What is what they do. Believe the half the people on this list against to read the books that they claimed. Neck injury We'll look things up one of them being rish soon. Knock claiming that he he's going to spend some weeding twelve yards but then littleton which is about football. It's about the history of the drug kick and this seems improbable. Seeing he's going to we'd hold my pints a history of beer. Got a man of the people kind of choice it's supposed to. It's supposed to indicate and signifant hidden dot all sorts of kind of ordinary life. Going on and i didn't believe him. Yeah it's the art psychology of the perfect penalty. I mean come on come on. That's just fill. It may have been sort of photo. Focus groups actually before getting onto the of all the people at loads you know cabinet ministers and shadow cabinets so. We don't know what kissed. Tom is going to be reading. He's he doesn't seem to respond to this. This request. Jim asteroids imagine. Read your previous items. Imagine kissed on the playing game and i couldn't. I mean maybe chess or backgammon but like a game room busters game with shackleton. You know walking the table and even running outside butting things. I just can't picture it's a tool and i also quite difficult to imagine him reading. Something fum yes. We've been asking for games that mp's playoff tub. Lindsey and suggested kiss tommy. Playing solitaire is a cruel but also entirely entirely plausible. What do we overall what we get from what we learn about our politicians from there some of reading lists you think. God i think is on that you think i'll dreadful. Nobody should. i really can't believe half. An mp is reading the sylmar really in jr token which is deeply boring dp nerdy book beloved only only if teenage boys around the age of fifty and even they didn't finish it. I'm very skeptical. William rag is reading the way we live now by anthony trollop which is competing all this and is the bible of anyone who is trying to try to show off. What a great love. They have a victorian novels that nobody reads. I just think it's so random. It's hard to draw any conclusions. I think you basically you can spend to. People who has said are being pretentious by reading old books. Pretend just by reading new books and then the handful of people who are reading books that i think a lot of people. Delia owns the cord. Sing a couple of them. And i believe that they're reading this book. Which is a bit of a moment in the last couple of years. A middle brown novel. A lot of people are actually reading. I believe i believe them. But i think there's a lot of i mean i think we can't even get into the kind of psychological games and things that people are people People trying to play with the books they recommended. Grant shops is reading the years of lyndon johnson by robert caro which is a book that if you get less like this politicians recommending books inevitably a politician recommend this to show how failure with what is famously. The ultimate political biography and the bible of how to do politics. It is it is. It is actually brilliant book. So i always thought that comes up I mean the whole thing is like i think so far. It's the three or four volumes of between three hundred and five hundred pages long so if you're gonna read the entire thing over over some. I'm skeptical is good to see that act is an excellent book and it is good. The politicians always like to shop for having graphics means that people remember exists. What my favorite on the list is recommend. There's a couple of relations which were nautilus. Somebody's recommended girl. Woman other guy but perfectly fine. Yes somebody else's recommended penny morton's book greater britain after the still. It's not well. Maybe it's party. Moses and also one karen and harris chosen a children's book how yes. Well there's a bit of that. Because rachel weaves shot. Chancellor has recommended fantastically great women. He worked wonders by cape. Panthers was children's book about which is a nice thing. V young girls and boys to read about women achieved a lot of nasa scientists..