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Tag: sinks

Pound sinks after no confidence report

Pound sinks after no confidence report

Business
Sterling fell against the dollar to a new 20-month low on Tuesday.The decline followed a Sky News report colleagues of Theresa May believed they had sufficient numbers to trigger a no-confidence vote in her leadership.Sky's deputy political editor Beth Rigby tweeted that Conservative MPs were "pretty confident" they had the 48 letters needed.But other media reported that total had not yet been reached.The pound fell to $ 1.2490, down more than half of one percent on the day, after earlier trading above $ 1.26.Investors spookedOn Tuesday a stronger dollar also dragged on the UK currency.Against the euro, sterling was at 90.555 pence, near a three-and-a-half-month low.Tuesday's weakness in the pound follows Mrs May's decision on Monday to delay a parliament...
Nine dead after Colombia tourist boat sinks

Nine dead after Colombia tourist boat sinks

World
A boat carrying around 170 tourists has sunk in a reservoir in northwestern Colombia.The accident on the Penol reservoir near the town of Guatape, which is approximately 45km east of Colombia's second largest city of Medellin, has left nine people dead and 28 others missing.The head of disaster relief for Antioquia province, Margarita Moncada, said: "At the moment we have nine people found dead. Another 99 people were rescued immediately and 40 more got out on their own."President Juan Manuel Santos and the mayor of Medellin said emergency services, scuba divers and the air force were involved in a major rescue operation.It is not yet clear where the tourists were from or what caused the accident.Images on social media showed smaller boats rushing towards the sinking ferry.Local media has ...
Hung parliament sinks business confidence, IoD finds

Hung parliament sinks business confidence, IoD finds

Business
The uncertainty caused by the general election has led business confidence to sink "through the floor", according to a lobby group.A snap poll of 700 members of the Institute of Directors found a "dramatic drop" in confidence following the hung parliament.Members saw no clear way to resolve the political impasse quickly, the IoD said.However, it found there was "no desire" for another election this year.Going to the polls again before Christmas would have a negative impact on the UK economy, which was already facing global headwinds, the IoD said.The loss of the Conservatives' majority in the Commons has led Theresa May to seek the support of MPs from Northern Ireland's Democratic Unionist Party to govern.The resulting political uncertainty could have disastrous consequences for the UK eco...