Hot Minute News: Liz Truss, Netflix and ASOS

Just 24 hours after stating she "isn't a quitter", Liz Truss resigns as the U.K's Prime Minister.

But first, here are the other top two stories of the week.

  • At number three, Netflix has added more than 2.4 million subscribers, beating its third-quarter expectations of just one million subscribers. This skyrocketed its share price more than 14%. Netflix will launch its new model with ads this November, at £4.99 a month.

  • At number two, ASOS saw a loss of nearly £32m in the 12 months to August, compared with a profit of £177m last year. The retailer is expecting to make a further loss in the six months to the end of February, as living costs soar.

  • And at number one, the pound rose on Thursday following Liz Truss's resignation, before dipping sharply. Markets have been in turmoil following the mini-budget, where the government promised huge tax cuts without saying how it would pay for them. A new Prime Minister will be declared in a week, and they’ll have the big task of navigating the economy through this cost of living crisis. 

Keep up to date with all the news here.

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James Ashoo

Senior Content Writer

James has been investing for over five years. His aim is to explain the hard stuff, easily! When he's not chewing your ear off about stocks and crypto, he'll most likely be telling bad jokes.

Harjas Singh

Harjas Singh

Chief Product Officer & Co-Founder

With a wealth of experience in fintech, Harjas is the man in the know when it comes to all things product. Investing features, chatting capabilities and thriving communities – he oversees all development on the Shares app!

Harry Harrison

Harry Harrison

Finance Writer

Harry is an experienced business writer, with a love for all things tech. In his free time, he enjoys reading, playing sport and winning at chess. He also loves posting inside the Shares app!