UK PM Sunak begins Cabinet reshuffle, keeps Chancellor Jeremy Hunt in place ...Middle East

Business Standard - Economy
British Prime Minister Rishi Sunak on Tuesday began putting his top team in place with key Cabinet appointments and decided to keep the new Chancellor, Jeremy Hunt, in place for economic stability. In another move aimed at continuity, James Cleverly will stay in his post as Foreign Secretary despite not being a Sunak loyalist. Hunt, who was parachuted in earlier this month by former prime minister Liz Truss and went on to reverse her tax-cutting mini-budget, has been an ally of Sunak and it was widely expected that he would keep his job. It was also expected to be one of the first announcements as a signal to the financial markets, which have considerably calmed since Sunak's Diwali victory.

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