News

Boris Johnson resigns as Prime Minister

Published

3 years ago

July 7, 2022

Ahron Young, Costa Haritos

British Prime Minister Boris Johnson has resigned as Conservative leader

UK Prime Minister Boris Johnson has resigned as Prime Minister saying “I tried to stay in Downing St because it is my job, my duty and my obligation to do what we promised to do in 2019”.

Mr Johnson says “clearly the will of the parliamentary Conservative Party that there should be a new leader” as he announced his resignation.

Boris Johnson says he is “immensely proud of the achievements of this Government”, from getting Brexit done to getting the UK through the pandemic, and leading the West in standing up to Putin’s aggression in Ukraine.

“The herd has moved and when the herd moves, it moves quickly”
BORIS JOHNSON RESIGNATION SPEECH

The confirmation came shortly after Mr Johnson’s newly appointed Education Secretary Michelle Donelan resigned after just 36 hours in the post, and newly appointed Chancellor Nadhim Zahawi told the prime minister to “go now”.

Defence Secretary Ben Wallace also confirmed he had withdrawn his support for the PM, and earlier, Northern Ireland Secretary Brandon Lewis resigned from his post.

There has been intense pressure on Mr Johnson to quit after more than 50 resignations from all levels of government, and waves of backbenchers appealing for him to go.

The resignation announcement fires the starting gun on what looks set to be a chaotic leadership battle. Foreign Secretary Liz Truss – expected to be a candidate – is cutting short a visit to Indonesia to return to the UK.

Minutes after Mr Johnson apologised, saying appointing Mr Pincher was a “mistake”, Health Secretary Sajid Javid announce his departure, followed swiftly by Chancellor Rishi Sunak.

Keir Starmer threatened to call a Parliamentary confidence vote and try to force a general election if Mr Johnson does not leave immediately.

‘He needs to go completely. None of this nonsense about clinging on for a few months,’ he said.

Ex-No10 chief Dominic Cummings wrote on Twitter: ‘Evict TODAY or he’ll cause CARNAGE, even now he’s playing for time & will try to stay

‘No ‘dignity’, no ‘interim while leadership contest’.

‘Raab shd be interim PM by evening.’

Another former minister, Nick Gibb, said: ‘As well as resigning as Party leader the PM must resign his office.

Mr Johnson has spent the week refusing to resign.

News

This may be the AI market correction, according to traders

US stocks tumble as tech giants report uneven earnings, prompting fears of a looming market correction.

Published

6 hours ago

November 5, 2025

Ahron Young

US stocks tumble as tech giants report uneven earnings, prompting fears of a looming market correction.

US stocks have taken a sharp dive as investors grow nervous about stretched valuations and uneven earnings reports from tech giants. Major Wall Street banks, including Morgan Stanley and Goldman Sachs, are warning that the rally could be nearing a 10% correction – a wake-up call for traders betting on unstoppable market momentum.

Nvidia, the world’s most valuable public company, dropped nearly 4%, wiping out around $200 billion in market value. Meanwhile, Palantir slid 6%, dragging other AI and semiconductor names lower. Even gold — a traditional safe haven — dipped 1.6%, signaling widespread investor anxiety.

Bitcoin also broke below the $100,000 mark for the first time since June, underscoring how jittery markets have become. As earnings season unfolds and the US government shutdown looms, investors are questioning whether the bull run that lifted the S&P 35% since April has finally run out of steam.

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News

Dick Cheney dies at 84: The end of an era in American power

Former Vice President Dick Cheney dies at 84, leaving a controversial legacy in American politics and national security.

Published

6 hours ago

November 5, 2025

Ahron Young

Former Vice President Dick Cheney dies at 84, leaving a controversial legacy in American politics and national security.

Former U.S. Vice President Dick Cheney has died at the age of 84, marking the end of one of the most influential — and controversial — political careers in modern American history. Cheney served under four Republican presidents, most notably George W. Bush, where he became known as one of the most powerful vice presidents in U.S. history.

His family confirmed he passed away from complications related to pneumonia and heart disease. Cheney’s decades in Washington were defined by his hardline approach to national security and his role in shaping America’s response to the September 11 attacks.

Even after leaving office, Cheney remained a strong defender of his policies, particularly the 2003 invasion of Iraq. His passing leaves behind a complicated legacy — one that reshaped U.S. foreign policy and continues to influence Republican politics today.

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News

Nasdaq sell-off deepens amid AI stock concerns

Nasdaq sell-off worsens as AI stock valuations spark investor concerns and Palantir shares plummet despite strong earnings

Published

8 hours ago

November 5, 2025

Ahron Young

Nasdaq sell-off worsens as AI stock valuations spark investor concerns and Palantir shares plummet despite strong earnings

In Short:
– Stocks fell due to concerns over AI valuations; S&P 500 down 1.2%, Nasdaq down 1.9%.
– Palantir shares dropped 9% despite strong performance, raising questions about sustainability of high valuations.

Stocks fell on Tuesday as investor concerns regarding artificial intelligence valuations impacted major indices.

The S&P 500 declined by 1.2%, and the Nasdaq Composite dropped by 1.9%, while the Dow Jones Industrial Average lost 304 points, equating to a 0.6% decrease.Palantir shares dropped 9%, despite the company’s strong third-quarter performance and positive forecasts attributed to its AI sector growth. The stock has surged over 150% this year, yet trades at over 200 times its forward earnings, leading investors to question whether such valuations can be sustained.

Other tech stocks also faced declines, including Oracle and AMD, which saw drops of 4% and more than 3%, respectively.

Gains in AI stocks have inflated the S&P 500’s price-earnings ratio above 23, raising concerns about stock valuations. Ameriprise market strategist Anthony Saglimbene highlighted potential risks, stating that investors are questioning if future profit growth will support high capital expenditures.

Market Outlook

Comments from executives at Goldman Sachs and Morgan Stanley further added to market worries.

Both firms predicted potential market pullbacks, with drawdowns of 10% to 20% possible within the next two years. Saglimbene noted a narrow market breadth in recent months, suggesting limited alternatives if a downturn occurs in the tech sector.