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Liz Truss’ mini-budget a poll disaster

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Liz Truss’ mini-budget was seen as a disaster by many, and now a new poll has found that around half of voters believe she should resign as prime minister.

The Ipsos survey found 53% of people believe Ms Truss should quit, while only 20% believe she should stay on. The findings come as the Labour Party is enjoying a surge in popularity, with most Britons believing they will win the next general election.

Tuesday’s YouGov poll found that 60% of the public expect a Labour victory, while just 18% think the Tories would win if an election were to be held.

The party’s plans to renationalise key industries and increase taxes on the wealthy have resonated with many voters, who are tired of austerity measures and cuts to public services.

Ms Truss’ mini-budget, which included a rise in fuel duty and cuts to Universal Credit, was seen as a betrayal by many of those who had voted for her party in December’s snap election.

“Truss should resign”

The Ipsos poll asked 1,000 people between 14 and 17 October whether they thought Ms Truss should resign. Just 13% of those surveyed thought she was likely to win the next general election.

These findings show that the public has little faith in Ms Truss and her ability to lead the country. It remains to be seen whether she will be able to turn things around or if she will be forced to resign in the wake of this disastrous mini-budget.

The new Ipsos poll shows that many voters believe Liz Truss should resign as prime minister in the wake of her disastrous mini-budget. Just 13% of those surveyed thought she was likely to win the next general election, which could spell trouble for her party come election time.

It remains to be seen whether Ms Truss will be able to turn things around or if she will succumb to pressure from within her party and resign.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

Business

BlockFI the latest crypto collapse

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The contagion from the FTX crypto collapse has claimed another major scalp.

Cryptocurrency lender BlockFi has filed for Chapter 11 bankruptcy.

BlockFi claimed more than 100,000 creditors with liabilities up to $10 billion.

BlockFi was founded in 2017 and is now hoping bankruptcy protection will allow it to stabilize the company and restructure.

In a statement, the company says:

“With the collapse of FTX, the BlockFi management team and board of directors immediately took action to protect clients and the Company,”

“From inception, BlockFi has worked to positively shape the cryptocurrency industry and advance the sector.”

Days after FTX declared bankruptcy, BlockFi said it had significant exposure to FTX and its other corporate entities.

BlockFi is now the fourth crypto-focused company to seek bankruptcy protection this year, following FTX, Voyager Digital, and Celsius Network.

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Business

It’s Musk v Twitter in tech war

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A war has broken out between Elon Musk in his battle against Apple.

In a tweet, owner Musk says Apple may ban Twitter from the App store, which would be devastating for his company, and wonders if it has to do with free speech. He even tagged Apple boss Tim Cook.

Musk says: “Apple has threatened to withhold Twitter from its App Store, but won’t tell us why.”

This all comes in the wake of other organisations allegedly following Apple’s suit and cutting back their advertising spending since the $44 billion Musk takeover.

General Mills and Pfizer have been two companies that have gone down this path and diverted their spending elsewhere.

Right now users can still see ads in their Twitter feeds.

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China protests hit global markets, crypto

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Investor watches markets

The protests in China are having a negative impact on cryptocurrencies and markets around the world.

Bitcoin failed to break its descent and fell more than 3 percent.

The global crypto market cap fell over 2%, sending major cryptos into the red.

Over the last 24 hours, overall crypto market volume grew by 22%.

It comes amid a round of investor nervousness in global markets spurred by protests in China against Covid restrictions.

Protesters outraged by harsh COVID-19 regulations called for China’s strong leader to quit.

China is the world’s second-largest economy and has a significant impact on global financial markets.

Stocks and cryptos aren’t considered safe havens, leading to bearing price action.

Analysts are hoping for a sharp bullish reversal if and when the protests end.

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