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Where did it all go wrong for UK’s Liz Truss?

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Liz Truss has quit as British prime minister after the shortest, most chaotic tenure of any British leader

Her economic program shattered our country’s reputation for financial stability and left many people POORER than before.

Britain will now elect a new leader by Oct. 28 – the country’s fifth prime minister in six years.

That contest is likely to pit ex-finance minister Rishi Sunak against Penny Mordaunt, but could also see the return of Boris Johnson, who was ousted as prime minister in July when his ministers resigned en masse to force him out of office.

The sight of yet another unpopular prime minister making a resignation speech in Downing Street – and the start of a new leadership race – underscores just how volatile British politics has become since the 2016 vote to leave the European Union.

It’s unclear who will be successful in this new leadership race, as contenders begin campaigning colleagues. A new PM could be announced by Monday.

What do the British people think of all this?

More destabilising political moves in a country already suffering from higher energy prices. Liz Truss was meant to fix all that, instead, but her party is split on how to do it.

So where did it all go wrong?

Speaking outside the door of her Number 10 office, Truss accepted that she had lost the faith of her party and would step down next week.

It’s the best news she’s given the financial markets during the past 45 days. The pound rallied as she spoke.

Her Labour opponent says enough is enough, and is calling for a general election.

The Scottish First Minister Nicola Sturgeon also wants heads to roll – but says the instability in London is a sign of a broader problem.

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

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Eisman identifies infrastructure as key investment opportunity

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Famed investor Steve Eisman, has shifted his focus to infrastructure, citing three main reasons.

 

The pandemic-induced shift towards onshore investment, the rise of AI necessitating data centre expansion, and the global push towards greener energy.

Eisman believes these trends offer a decade-long opportunity for investors, with Australia presenting ample opportunities for market participation.

Notable companies to consider for exposure include BlueScope and James Hardie Industries for building materials, Macquarie Technology and Goodman Group for data centres, and Worley, AGL Energy, and Origin Energy for electricity grid upgrades and green infrastructure.

However, Eisman cautions investors to approach utility investments carefully, considering their capital expenditure budgets in renewable energy and grid upgrades.

 

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Civil War cinema brings in the box office dollars

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Alex Garland’s film “Civil War” has made a significant impact at the box office, surpassing expectations with a $25.7 million opening weekend in North America.

Starring Kirsten Dunst, Wagner Moura, and Cailee Spaeny, the film explores a near-future scenario where California and Texas unite against a president’s authoritarian regime. Despite fictional elements, “Civil War” has sparked widespread discussion, with its themes resonating in today’s political climate. The film’s performance, coupled with positive reviews, suggests a promising trajectory in the coming weeks, bolstered by a relatively quiet release schedule.

You can catch the trailer here

 

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Oil likely to see hike following Iran’s Israel attack

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Global oil markets are poised for potential disruption as tensions escalate in the Middle East following Iran’s recent attack on Israel.

The attack, which targeted key infrastructure, has raised concerns about the stability of oil supplies in the region.

Experts predict that the incident could lead to a spike in oil prices as investors react to the heightened geopolitical risk. #ticker today #featured

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