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Sunak Rishi has said the country faces a \u201cprofound economic challenge\u201d, after being chosen by the ruling Conservative party to lead the country. He was set to be appointed prime minister by King Charles later on Tuesday.<\/p>\n
Sunak will be tasked with rebuilding Britain\u2019s financial credibility, after his predecessor Liz Truss triggered an investor confidence crisis with plans for vast unfunded tax cuts.<\/p>\n
\u201cWe\u2019re very pleased that there has been a decision taken on the UK Prime Minister position, that now allows the markets to stabilise as you can see in the way the markets reacted yesterday, that\u2019s positive,\u201d HSBC CEO Noel Quinn told Reuters, after the bank posted third quarter earnings.<\/p>\n
Sunak\u2019s successful bid to become prime minister after rivals pulled out, has relieved some of the nervousness around the outlook for the UK economy, analysts said, boosting domestic markets and easing borrowing costs.<\/p>\n
Quinn said Sunak\u2019s government should work with the financial industry to ensure Britain\u2019s regulatory environment remains globally competitive, while not sacrificing its reputation for prudence.<\/p>\n
\u201cThere are some areas where I think there is potential for improvement to drive greater competition,\u201d Quinn said, adding that he welcomed moves to embed competitiveness into regulators\u2019objectives.<\/p>\n
\u201cIt\u2019s important for the City of London to remain competitive with regulatory environments around the world.\u201d<\/p>\n
Related Video:<\/strong><\/p>\n!function(e,t,r){let n;if(e.getElementById(r))return;const a=e.getElementsByTagName(\u201cscript\u201d)[0];n=e.createElement(\u201cscript\u201d),n.id=r,n.defer=!0,n.src=\u201dhttps:\/\/playback.oovvuu.media\/player\/v1.js\u201d,a.parentNode.insertBefore(n,a)}(document,0,\u201doovvuu-player-sdk\u201d);<\/p>\n<\/div>\n
Source<\/a> <\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"Sunak Rishi has said the country faces a \u201cprofound economic challenge\u201d, after being chosen by the ruling Conservative party to lead the country. He was set to be appointed prime minister by King Charles later on Tuesday. Sunak will be tasked with rebuilding Britain\u2019s financial credibility, after his predecessor Liz Truss triggered an investor confidence […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[56],"tags":[],"class_list":["post-1234657","post","type-post","status-publish","format-standard","category-world"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1234657","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1234657"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1234657\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1234657"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1234657"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1234657"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}