Boris Johnson’s resignation creates turmoil in UK politics

JM — Mon, 12 Jun 2023 13:11:45 +0000

Impact of Boris Johnson’s resignation on UK politics

Boris Johnson’s resignation as a Member of Parliament has sent shockwaves through UK politics. The move followed the Partygate inquiry published last week which found that he broke the ministerial code. His departure has prompted questions about the future direction of the Conservative Party and raised the likelihood of a general election in the near future. With a slim majority and internal party disagreements, the Prime Minister’s position looks increasingly precarious.

Post-Brexit era and the future direction of the country

Johnson’s departure also marks a significant moment in the post-Brexit era of UK politics. A key figurehead of the Leave campaign and a pivotal figure in the UK’s exit from the EU, Johnson’s resignation may signal a shift in political direction for the country. The move has also raised questions about the future of the Union, as Johnson’s successor will need to address growing support for independence in Scotland.

Uncertain future for the UK amidst the COVID-19 pandemic

The immediate future for the UK is uncertain. With the COVID-19 pandemic still raging, the country needs strong leadership to navigate its way through the ongoing crisis. However, the political turmoil created by Johnson’s resignation leaves the country in a state of flux. The only certainty is that the next few months will be a volatile time for UK politics, with many questions still to be answered.

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Global Stock Markets in 2021: A Rollercoaster Ride

JM — Sun, 11 Jun 2023 19:39:34 +0000

A Rollercoaster Year

Global stock markets dealt with persistently high inflation, global supply chain crisis, and one of the most frenzied speculative booms in decades. The FTSE 100 bounced back despite COVID-19 to finish 14.3% up in 2021. Financial markets climbed a wall of worry as investors drove up asset prices while deal-making soared and the gamification of investing hit new heights. Here are some of the biggest moments from a rollercoaster year.

The Rise of Meme Stocks

Starting with the rise of meme stocks on Wall Street and the coordinated effort of the retail traders to attempt one of the biggest short squeezes in market history. Organised through Reddit’s Wall Street Bets group, savvy online traders used call options and memes to fuel their orchestrated buying and tap into public distaste for speculative investors. These rallies ended in tears for some retail traders, who were left holding the bag as the meme stocks dropped back.

Big Tech Growth Dominates

Smaller technology stocks struggled as their pandemic sales growth slowed while the US Federal Reserve moved towards raising interest rates next year, dampening their appeal as growth stocks. Shares in Chinese technology companies plunged after a government crackdown. However, big tech grew ever more powerful, accounting for more than a third of the S&P 500’s returns this year.

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