Johnson had hinted when resigning in July that he would likely attempt a second stint in office -- though even his allies would have thought it unlikely so soon.

Investors welcomed Rishi Sunak as Britain's new prime minister on Monday, but they're likely to give him little leeway to diverge from spending restraint and tax rises after his predecessor shook their faith in the Conservative party's management of the economy.

European stocks and the pound climbed Monday as markets awaited confirmation that former finance minister Rishi Sunak would become Britain's new prime minister.

Elected for the first time to parliament in 2015, Rishi Sunak became Britain's youngest prime minister in more than 200 years on Monday, tasked with steering the country through an economic crisis and mounting anger among some voters.

Britain's next prime minister, former finance chief Rishi Sunak, inherits a UK economy that was headed for recession even before the recent turmoil triggered by Liz Truss.

Another concern may be that most of the attention obtained by radical actions is not about the issue, focusing instead on what the protesters did.

Earlier Sunday, Sunak formally announced he was standing for the top job, just weeks after having failed in a first attempt.

Fabulously rich from his pre-politics career in finance, he has been mocked as out of touch with Britons struggling with decades-high inflation.

Johnson cut short a luxury stay in the Dominican Republic to join the seemingly three-way tussle, with allies saying he was "up for it."

Boris Johnson and his former finance minister Rishi Sunak were leading potential contenders to replace British Prime Minister Liz Truss on Friday, with candidates canvassing support to become Conservative Party leader in a fast-tracked contest.

UK government borrowing surged and retail sales slumped in September, official data showed Friday.

Out of power for a matter of months, comeback king Boris Johnson is once again being touted as the new leader of the governing Conservative Party and Britain's prime minister.

The shortness of her tenure does at least make it relatively easy to sum up where it all went wrong. I suggest there were five key elements at play in her rise and fall.

Britain's third female prime minister beat Johnson's former finance chief Rishi Sunak for the top job on a platform of sweeping tax cuts that won over the Tory rank-and-file.

According to The Times, he intends to join the race to succeed Liz Truss, believing that it is in the "national interest".

British Prime Minister Liz Truss insisted she would not quit on Wednesday as she faced questions from booing MPs at her first Question Time session since abandoning her disastrous tax-slashing economic policies.

Rishi Sunak has entered the picture once more after losing to Truss during their bid to replace Boris Johnson.

British company owners are pulling investments as a crisis triggered in Westminster pushes up borrowing costs and hits confidence in an economy once seen by businesses as a haven of stability.

Prime Minister Liz Truss apologised for threatening Britain's economic stability after she was forced to scrap her vast tax-cutting plans and embark on a programme of "eye-watering" public spending cuts instead.

BP will pay $3.3 billion in cash plus around $800 million in debt, while the purchase remains subject to regulatory and Archaea shareholder approvals.

Britain's new finance chief Jeremy Hunt on Monday axed debt-fuelled tax cuts to further calm market turmoil.

Britain's new finance minister Jeremy Hunt said on Saturday some taxes would go up and tough spending decisions were needed, saying Prime Minister Liz Truss had made mistakes as she battles to keep her job just over a month into her term.

British Prime Minister Liz Truss won power by appealing to Conservative members as the heir to Margaret Thatcher.

British finance minister Kwasi Kwarteng cut short a trip to Washington to rush back early on Friday to London where pressure is mounting for the new government to scrap much of an economic programme that unleashed turmoil on financial markets.

UK finance minister Kwasi Kwarteng dashed home Friday from Washington for crisis talks with Prime Minister Liz Truss.

British finance minister Kwasi Kwarteng refused to say on Thursday if he would stick with his plan not to raise business taxes as media reported Prime Minister Liz Truss was rethinking an economic programme that plunged markets into turmoil.

Embattled British Prime Minister Liz Truss faced fresh woes on Thursday after a prominent Conservative party insider said some of her own MPs were considering pushing for two of her former rivals to replace her.

Liz Truss successfully campaigned to become prime minister by saying she was opposed to the idea of a tax on the profits of energy giants.

Britain's beleaguered Prime Minister Liz Truss vowed Wednesday not to cut public spending.

The UK Supreme Court begins two days of hearings on Tuesday to consider whether the Scottish government can pass legislation allowing it to hold a second independence referendum without the approval of the British government.