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The announcement gives a boost to Britain's automotive sector hit this year by Honda and Ford's plans to close factories.
The Budget to be presented on Friday is expected to boost spending at the cost of short-term slippage in fiscal deficit targets as she lays down the Modi 2.0 government's road map for the economy and the nation in the next five years.
Christine Lagarde, who has led the International Monetary Fund since 2011, is to take charge at the European Central Bank and von der Leyen is likely to lead a commission facing a host of challenges, ranging from climate change to disinformation, populism and Brexit.
Despite a series of scandals in the past and criticism about his attention to detail, Johnson has dominated the race since Theresa May announced a month ago that she would step down after failing to get her Brexit deal through parliament.
Johnson, the face of the official campaign to leave the European Union in the 2016 referendum, won the support of 114 Conservative lawmakers in the first round of the contest to replace May.
She will continue to work as prime minister until her party elects a new leader, a crowded race that will be defined by Brexit and competing approaches on how to deliver Britain's biggest foreign policy shift in more than 40 years.
Brexit has prompted concerns that new checks will be erected at the island's frontier, providing a potential target for attacks and upsetting the fragile peace in Northern Ireland.
The dark clouds of Brexit may loom over England still, but the devout fans of English football have already made up their mind – to not only remain in Europe but also to conquer it.
European elections show how climate crisis is brought from streets to the ballot boxes.
Right-wing populists top opinion polls in two of the big four member states - Italy and supposedly exiting Britain - and could also win in a third, France, rattling a pro-Union campaign championed by centrist President Emmanuel Macron.