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Rishi Sunak becomes the UK’s youngest PM in two centuries

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Rishi Sunak is Britain’s next leader after Mordaunt removed herself from the race

It’s official, Rishi Sunak will become the next prime minister of the United Kingdom.

Sunak was met with a round of applause when arriving at Conservative Party HQ in Westminster.

He is the third prime minister the country has seen in just three months, following Boris Johnson and Liz Truss’ resignations.

Chairman of the Committee of Conservative MPs, Sir Graham Brady, announced the victory.

Sunak has pledged his commitment to the United Kingdom.

Sunak says he is “humbled and honoured” to have the support of his fellow MPs and be elected leader.

“It is the greatest privilege of my life to be able to serve the party I love and give back to the country I owe so much to.”

A big job lies ahead for the new PM

He has the responsibility of steering a deeply divided country through an economic downturn and political unrest.

But Sunak has vowed to get Britain back on track.

“The United Kingdom is a great country but there is no doubt we face a profound economic challenge. We now need stability and unity and I will make it my utmost priority to bring our party and our country together.”

rishi sunak, uk Prime Minister

He is the country’s first non-white PM. But more importantly, he’s already calming a lot of nerves about the economy and where this country is headed.

Confidence in his Conservative Party is low right now.

The economy is top of mind here. There’s a cost of living crisis and inflation is over 10 per cent. But Sunak might be the best positioned to tackle the financial turmoil.

He’s the former finance minister, he’s been very clear about his planned policies for taxes and growth, and just look at the markets: today’s news has rallied the British stock exchange and the pound.

Labour says that three Prime Ministers in this short time is a sign that the conservative party doesn’t have things together – they’re calling for a new general election to let the voters decide what the balance of power looks like in Parliament.

That’s unlikely to happen though. Rishi Sunak should have the keys to 10 Downing Street in the next 24 hours.

Holly is an anchor and reporter at Ticker. She's experienced in live reporting, and has previously covered the Covid-19 pandemic on-location. She's passionate about telling stories in business, climate and health.

Tech

Porn floods Twitter “China” search

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Twitter users have been finding it hard to search for information on the social media platform due to an explosion of pornographic spam.

While thousands of protests against extended lockdowns, a digital bot army has roared into action on Twitter, with long-dormant Chinese language accounts suddenly tweeting links to escort services and other adult content.

Anyone trying to track the spontaneous protest movement on Twitter complained about the deluge of spam pornographic content making flooding the search for information.

The China protests come at a time when Twitter’s content and moderation teams have been pared back drastically following Elon Musk’s $44 billion takeover of the social media giant.

Twitter, along with other international social media services like Facebook, Snapchat and Instagram, is blocked by Beijing’s internet censors within Mainland China.

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World

Biden silence on China protests

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As citizens across China revolt against the country’s “zero Covid” policy, the White House issued a statement about the growing protests.

“‘We’ve long said everyone has the right to peacefully protest, in the United States and around the world,’ a White House National Security Council spokesperson said in a statement.

‘This includes in the [People’s Republic of China.]’

“‘Zero COVID is not a policy we are pursuing here,’ the spokesperson said.

‘And as we’ve said, we think it’s going to be very difficult for the People’s Republic of China to be able to contain this virus through their zero COVID strategy.’”

Commentators have noted that the statement came from the White House, and not President Biden himself.

Demonstrators are calling on President Joe Biden to take a stance and publicly support their cause.

The protests have continued despite numerous attempts by the Chinese government to quell them.

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Business

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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