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Andy Burnham delivered his first speech since becoming the new UK prime minister, pledging to end the nation's political instability with a new economic model. Burnham spoke outside No. 10 Downing Street after being invited by King Charles III to form a new government.

Bloomberg Opinion's Adrian Wooldridge and UK in a Changing Europe Director Anand Menon discuss the challenges facing Andy Burnham as the UK's next prime minister. "I think the key thing for Andy Burnham is to focus on a few key domestic priorities," Menon tells Bloomberg Television.

As Andy Burnham is set to become the UK's next prime minister, Bloomberg MLIV's Ven Ram breaks down how different choices for Chancellor of the Exchequer could affect gilts. He speaks on Bloomberg Television.

Andy Burnham is set to become the UK's seventh prime minister in just over a decade. Burnham's arrival at 10 Downing Street will complete an ascent for a Labour veteran and twice-defeated leadership contender who was serving as the mayor of Greater Manchester outside Parliament and with no obvious route to national power until less than 10 weeks ago. Bloomberg Opinion's Rosa Prince breaks down the situation and its significance. Her views are her own.

"I will be a pro-business leader of the Labour Party, as I was a pro-business mayor of Greater Manchester," Andy Burnham says in his first speech since formally becoming leader of the Labour Party. He will take over as prime minister from Keir Starmer on Monday.

Andy Burnham delivers a speech after he is officially named leader of the UK's Labour Party. "This is a proud moment," he says. Burnham is set to become the UK's next prime minister.

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.