Thread by @AFP

#BREAKING UK's Truss appoints centrist Hunt as new finance minister

#UPDATE British PM Liz Truss has appointed Jeremy Hunt, a former candidate for the Conservative leadership, as her new finance minister in place of sacked Kwarteng. She is expected to stage a major U-turn on her right-wing economic plan following turmoil on financial markets.

#BREAKING UK's Truss says govt will U-turn and raise corporation tax

#UPDATE Embattled British PM Liz Truss on Friday announced another drastic U-turn to her tax-slashing mini-budget last month which has prompted market turmoil, vowing to raise corporation tax after all.

#Truss says she is "absolutely determined" to deliver economic growth plan.

#BREAKING UK budget U-turn shows need for 'prudent' policies: EU commissioner

#UPDATE Britain's budget U-turn shows the need for countries to be prudent in how they implement fiscal and monetary policies, the European Commission's economic affairs chief said Friday.

"We don't have lessons to give to anyone and to the UK. We have lessons to learn"

#UPDATE British Prime Minister Liz Truss on Friday fired her finance minister after prolonged market turmoil, but restive Conservatives plotted the new leader's own demise as her right-wing economic agenda imploded
Full story by @jitjoshi:
u.afp.com/iw3J