CharlieH

Boris Johnson will today resign as prime minister as he finally bows to the pressure of swathes of government resignations. A No 10 source said Mr Johnson had spoken to the chairman of the Conservative backbench 1922 Committee, Sir Graham Brady, and agreed to stand down, with a new Tory leader set to be in place by the party's conference in October. SKY NEWS story.

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The pound has fallen to a two-year low against the dollar reflecting traders' increasing concerns about recession around the world as energy prices continue to soar. But sterling is also weak because markets are worried about future UK economic growth, analysts said. Sterling could fall even further after predictions of economic stagnation and as inflation rises, they added. London shares regained some ground on Wednesday following Tuesday's falls. Full Story Courtesy BBC News

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