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UK long-dated bond yields have surged to their highest level since 1998, while the pound continues to decline, putting immense pressure on Prime Minister Keir Starmer’s new government. Chancellor Rachel Reeves faces the daunting task of addressing a £35 billion budget shortfall through potential spending cuts or tax increases. In corporate news, Nestlé has abruptly dismissed CEO Laurent Freixe after just one year due to an undisclosed workplace affair, adding to the company’s management instability.
- UK 30-year government bond yields have reached levels not seen since 1998, indicating heightened investor concern about long-term fiscal sustainability
- Chancellor Rachel Reeves must find £35 billion in savings or new revenue to balance the budget, with tough choices between austerity measures and tax increases
- Nestlé's dismissal of CEO Laurent Freixe after one year due to a workplace affair continues a pattern of management instability at the traditionally stable consumer goods giant
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Other Tags: Keir Starmer, Rachel Reeves