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Sir Keir Starmer has stepped down as leader of the Labour Party, starting the process that will see him replaced as prime minister. He made the announcement in a speech outside 10 Downing Street, where reorters had gathered in anticipation of the news. Becoming visibly emotional as he concluded his speech, Starmer said that he would now focus on “the most important job” of being the best husband and dad to his “fantastic wife” and “beautiful children”. Source link

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The Bank of England has eased its planned restrictions on stablecoins in response to criticism of its strict approach to the tokenised forms of money as it seeks to avoid the UK falling behind in digital asset markets.The BoE said on Monday it was ditching its plan to impose ownership limits on UK stablecoins, replacing this with a £40bn issuance limit. It also lowered the proportion of assets backing stablecoins that must be held in zero-interest deposits at the central bank.Crypto asset…

Thomas Barwick | Digitalvision | Getty ImagesThe wealth management industry is in the middle of a sweeping shift, as more firms move up the wealth ladder to serve the richest individuals and families. Technology, competition and industry consolidation are pressuring fees and profitability, experts say. At the same time, the population and fortunes of ultra-high net worth investors are soaring, data shows. To survive and grow, more wealth management firms are chasing the surging ranks of the extremely wealthy and their more profitable accounts.CNBC’s inaugural Elite Advisors list for 2026 recognizes 25 firms that have extensive experience helping the wealthiest…

Canadian lender TD tells some employees it will use software to monitor their work   Source link

The BBC’s political correspondent Joe Pike outlines the highs and lows of his premiership. Source link

Oil tankers and cargo vessels remain anchored off Port Sultan Qaboos on June 21, 2026 in Muscat, Oman. The Strait of Hormuz, a vital shipping route for the region’s oil and gas, was effectively blockaded since the outbreak of war between the United States and Iran in late February. On Sunday, U.S. Vice President JD Vance arrived in Switzerland for high-level talks with the Iranian delegation, as the two sides seek to clarify the terms of ending the war.Elke Scholiers | Getty Images News | Getty ImagesShipping through the Strait of Hormuz stalled over the weekend, according to maritime intelligence…

SpaceX is down more than 3% in premarket trading on Monday, continuing a selloff that has seen the stock fall in the past two full days of trading after a rally after its record-breaking IPO.Shares in the company were down 3.65% at 5:15 a.m. ET.Elon Musk’s space and artificial intelligence firm became one of the world’s most valuable companies after a blockbuster listing on June 12. Stock surged in SpaceX’s first two full days as a public company, with market cap surpassing Amazon and — briefly — Microsoft on Tuesday, before falling back below both. Stock Chart IconStock chart iconSpaceX…

EasyJet rejects $6.3 billion bid as Castlelake makes plans public Source link

LONDON, ENGLAND – JUNE 22: Prime Minister Keir Starmer announces his resignation as UK Prime Minister and Leader of the Labour Party, outside No.10 Downing Street on June 22, 2026 in London, England. The prime minister had faced calls to announce a timeline for his departure from office ahead of an expected leadership challenge by Andy Burnham, who is re-entering parliament after his victory in the Makerfield by-election. (Photo by Peter Nicholls/Getty Images)Peter Nicholls | Getty Images News | Getty ImagesU.K. Prime Minister Keir Starmer announced Monday that he will stand down as Labour leader and prime minster, ending months…

A view of Baglihar Dam, also known as Baglihar Hydroelectric Power Project, on the Chenab river which flows from Indian Kashmir into Pakistan, at Chanderkote in Jammu region May 6, 2025. Stringer | ReutersA year after their last military conflict, tensions between India and Pakistan are rising again, this time over access to water from the Indus River basin.Pakistan’s defense minister warned Friday that water security could become a cause for war if Islamabad believes its national interests are threatened.”The moment we feel our national security is under threat, and water is part of our national security, we will go…