Former Australian Prime Minister Tony Abbott praised the decision saying on Twitter: “Good to see Boris Johnson as the new UK Foreign Secretary. He’s a good friend of Australia.” The former London mayor and leader of the Leave campaign, Boris Johnson, has been appointed Foreign Secretary in the cabinet of the new British prime minister, Theresa May. The Queen “has been pleased”... 

Just yesterday, we recounted the story of “Black Wednesday” when on September 16, 1992, the UK was forced out of the EU’s exchange-rate mechanism, or ERM, when the BOE tapped out and allowed the British pound to float freely, leading to 15% losses in the sterling. As we noted, this was George Soros’ infamous trade which “broke the Bank of England” and made the Hungarian richer by over... 

A child playing in the streets in Brierfield in Lancashire where nearly 35% of children live in poverty. Child poverty rate in Britain is reportedly heading towards its largest increase in a generation, reversing over a decade of progress that began in the late 1990s, leading independent experts say. The bleak projection emerged Saturday just before the release of government statistics that are expected... 

Monsanto, the agrochemical and seed giant, is eyeing a move to the UK as part of a complex merger with Swiss rival Syngenta that would take advantage of Chancellor George Osborne’s lower corporation tax rate. The US firm is proposing a so-called “corporate inversion,” or “tax inversion,” which would involve setting up a new company registered in the UK. Syngenta rejected the $45 billion... 

Scotland has accused the British government ministers of “bullying” Edinburgh over a planned independence referendum later this year. In a letter to UK Prime Minister David Cameron on Saturday, Scotland’s First Minister Alex Salmond urged him to distance himself from recent “astonishing” claims reportedly made by a coalition colleague. This came after a senior coalition source said... 

Britain’s Chancellor of the Exchequer George Osborne says the country’s gross domestic product (GDP) fell by 7.2 percent from 2008 to 2009, adding that the drop wiped £112 billion off the UK’s economy. Making his Autumn Statement before lawmakers at the House of Commons, Osborne stressed that the country could not stop fighting for its recovery as a reassessment by the Office for National Statistics... 

Iran’s Navy successfully test-fired its first home-built medium-range anti-radar missile, Mehrab, on January 1, 2012. The British government is desperately struggling to make an impact in the Middle East and let the public know by making hollow gestures to pretend an attack on Iran, where Britain will be a major player, is imminent. British media reported on Friday that Prime Minister David Cameron... 

The survey's findings underline suspicions that the new Chancellor, George Osborne, will have to firefight a full-blown crisis in Britain's biggest trading partner in his first years in office The single currency is in its death throes and may not survive in its current membership for a week, let alone the next five years, according to a selection of responses to the survey – the first major... 

Protesters in Greece are demanding that the plutocrats pay The recession has increased the wealth gap to dangerous levels, and George Osborne does not seem serious about tackling it, says Edmund Conway. If you don’t work in the City or in economics, you may not have heard of the annual Mais lecture, which was delivered last night by George Osborne. But it’s a big deal, arguably the most...