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Andy Burnham is under pressure to outline an economic plan for the UK following his sudden and spectacular rise toward the pinnacle of British politics. Bloomberg understands the Labour leadership hopeful will give a set-piece speech on the economy next week as he seeks to lay out his stall ahead of that contest. Former Bank of England Governor Mervyn King was asked by Caroline Hepker and Lizzy Burden how the potential next Prime Minister should be thinking about the economy.

Baillie Gifford launched the Enhanced Yield Fund under the ticker BAGEY, introducing a fully tokenised investment fund backed by an actively managed portfolio of short-term corporate bonds.

Amundi Investment Institute Head Monica Defend discusses the market reaction to Keir Starmer's announcement that he will step down as British prime minister. Speaking on Bloomberg Television, she says "this was largely expected," which justifies the "containment in volatility." Defend adds there is still value on the yield and that "the real story is one of fiscal discipline."

Keir Starmer said he would step down as Britain's prime minister. Speaking outside Number 10, he said he would step down first as Labour leader, with nominations for a contest for a new leader of the party opening on July 9 and completed by Sept. 1. Bloomberg's Ruth David reports.

Keir Starmer has stepped down as the UK's prime minister after months of pressure. Bloomberg News Editor-in-Chief John Micklethwait discusses what key issues undermined the outgoing premier's time at Number 10.

Keir Starmer said he would step down as British prime minister in an emotional speech outside Downing Street. The announcement comes two years after he led the Labour Party back to power with a landslide majority. His departure from Number 10 paves the way for Andy Burnham to attempt to take over as successor.

Allies of Keir Starmer expect him to set out a timetable for his departure as UK prime minister imminently. A statement from Starmer ceding power could come as soon as Monday, people familiar with the matter said, although they cautioned that was not certain. The move could pave the way for Andy Burnham to replace him and it would put Britain on a course for its seventh premier in a decade. Bloomberg's Joe Mayes reports from Downing Street.

"We have an opportunity to turn the tide," Labour Party's Andy Burnham says at a rally in Makerfield. He speaks after a decisive victory in the by-election which secured him 54.8% of the vote.

Labour's Andy Burnham says there is a need to make "life more affordable." He speaks at a rally in Makerfield on Friday, after his decisive victory in the by-election which secured him 54.8% of the vote.

Greater Manchester Mayor Andy Burnham won a decisive victory for the Labour Party in a by-election in the constituency of Makerfield with 54.8% of the vote, defeating Robert Kenyon from right-wing Reform UK, who secured 34.5%. Burnham's win forges a pathway to challenge UK Prime Minister Keir Starmer for his job. Bloomberg's Ruth David reports.