Skip to content
Search

Latest Stories

British Prime Minister Vows To Fight For Her Brexit Deal Amid Series Of Resignations

UK prime minister Theresa May vowed to fight for her draft divorce deal with the European Union on Thursday (15) after the resignation of her Brexit secretary and other ministers put her strategy and her job in peril.

Just over 12 hours after May announced that her cabinet had agreed to the terms of the deal, Brexit minister Dominic Raab and work and pensions minister Esther McVey resigned.


Eurosceptics in May's Conservative Party said they had submitted letters calling for a vote of no confidence in her leadership.

"Am I going to see this through? Yes," May told reporters at her Downing Street office.

Two junior ministers, two ministerial aides and the Conservatives' vice chairman also quit. Hostility to the deal from government and opposition lawmakers raised the risk that the deal would be rejected and Britain would leave the EU on March 29 without a safety net.

May said she was sorry at the resignations and understood their unhappiness, but believed her deal was the right one.

"I believe with every fibre of my being that the course I have set out is the right one for our country and all our people," she said.

"I am going to y job of getting the best deal for Britain and I'm going to my job of getting a deal that is in the national interest."

By seeking to preserve the closest possible ties with the EU, May has upset her party's many advocates of a clean break, and Northern Ireland's Democratic Unionist Party (DUP), which props up her minority government.

Meanwhile, proponents of closer relations with the EU in her own party and the Labour opposition say the deal squanders the advantages of membership for little gain.

Both sides say it effectively cedes power to the EU without securing the promised benefits of greater autonomy.

"It is ... mathematically impossible to get this deal through the House of Commons. The stark reality is that it was dead on arrival," said Conservative Brexit-supporting lawmaker Mark Francois.

May will need the backing of about 320 lawmakers in the 650-seat parliament to pass the deal.

The ultimate outcome remains uncertain. Scenarios include May's deal ultimately winning approval; May losing her job; Britain leaving the bloc with no agreement; or even another referendum.

Reuters

More For You

Piyush Goyal

Piyush Goyal recalled that in February, Narendra Modi and Donald Trump had instructed their trade ministers to conclude the first phase of the bilateral trade agreement (BTA) by November 2025. (Photo: Getty Images)

Getty Images

Trade talks with US moving forward positively, says Indian minister Goyal

INDIA’s commerce and industry minister Piyush Goyal on Thursday said that negotiations on the proposed trade agreement between India and the United States, which began in March, are progressing in a positive atmosphere and both sides are satisfied with the discussions.

He recalled that in February, Indian prime minister Narendra Modi and US president Donald Trump had instructed their trade ministers to conclude the first phase of the bilateral trade agreement (BTA) by November 2025.

Keep ReadingShow less
Baiju Bhatt

At 40, Bhatt is the only person of Indian origin in this group, which includes figures such as Meta’s Mark Zuckerberg. (Photo: Getty Images)

Baiju Bhatt named among youngest billionaires in US by Forbes

INDIAN-AMERICAN entrepreneur Baiju Bhatt, co-founder of the commission-free trading platform Robinhood, has been named among the 10 youngest billionaires in the United States in the 2025 Forbes 400 list.

At 40, Bhatt is the only person of Indian origin in this group, which includes figures such as Meta’s Mark Zuckerberg. Forbes estimates his net worth at around USD 6–7 billion (£4.4–5.1 billion), primarily from his roughly 6 per cent ownership in Robinhood.

Keep ReadingShow less
UK business district
The Canary Wharf business district including global financial institutions in London. (Photo: Getty Images)
Getty Images

Economy shows no growth in July amid political turbulence

UK's ECONOMY showed no growth in July, according to official data released on Friday, adding to a difficult week for prime minister Keir Starmer’s government.

The Office for National Statistics (ONS) said gross domestic product was flat in July, following a 0.4 per cent rise in June.

Keep ReadingShow less
India’s IT sector

India’s $283 billion IT industry, which contributes more than 7 per cent to the country’s GDP, has for over three decades provided services to major clients including Apple, American Express, Cisco, Citigroup, FedEx and Home Depot.

iStock

India’s IT sector faces uncertainty as US proposes 25 per cent outsourcing tax

INDIA’s IT sector is facing uncertainty as US lawmakers consider a 25 per cent tax on companies using foreign outsourcing services.

Analysts and lawyers said the proposal has led to customers delaying or re-negotiating contracts, raising concerns in India, the world’s largest outsourcing hub.

Keep ReadingShow less
Rachel Reeves

'Our economy isn't broken, but it does feel stuck,' Reeves said, speaking alongside the release of a finance ministry report on business property taxation, known as rates.

Getty Images

Reeves signals possible changes to business property taxes ahead of budget

CHANCELLOR Rachel Reeves said on Thursday she is considering changes to business property taxes to support small firms looking to expand, as part of her plans to boost growth.

Reeves’ comments come ahead of her annual budget on November 26, at a time when concerns about possible tax rises and inflation are weighing on businesses and households.

Keep ReadingShow less