FTSE LIVE: US stocks closed at record high yesterday; Centrica blames price cap …
FTSE LIVE: Sajid Javid resigns as Chancellor and is replaced by Rishi Sunak; Alok Sharma named new Business Secretary; Shares slump on resurgent virus fears
Boris Johnson has appointed Rishi Sunak as Chancellor after Sajid Javid resigned. He is reported to have quit over plans to merge the number 10 and Treasury special adviser teams.
Sunak previously served as Chief Secretary to the Treasury, the second in command to Javid.
Alok Sharma has been appointed the new Business Secretary. He has held several ministerial posts and is seen as a loyal supporter of the Prime Minister.
Shares slid back down to earth today after all three major US markets saw record highs yesterday, as the number of new Covid-13 cases appeared to be slowing down.
Barclays boss Jes Staley is under investigation by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) over whether he accurately described the relationship between convicted sex offender Jeffery Epstein and himself during the time the banker ran JP Morgan’s private bank.
British Gas owner Centrica…