Former British finance minister Rishi Sunak is set to become the next prime minister as he was elected as Conservative Party leader unopposed on Monday.
The race to find a successor to Liz Truss took a dramatic turn on Monday as Sunak's lone remaining rival Penny Mordaunt dropped out of the party leadership race, unable to ensure the support of 100 Tory MPs that was necessary for candidacy.
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Business News
April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.