Penny Mordaunt has come a strong second with 83 votes, behind former finance minister Sunak with 101 in the second round of voting by Conservative MPs.
Taxation is already a key dividing line in the race, as Britain faces the toxic combination of high inflation and rampant cost-of-living increases alongside stagnant growth and relatively high tax rates.
Former health secretaries Hunt and Javid declare to run for Tory leadership to replace Boris Johnson and are focusing on tax cuts.
President Hassan Rouhani says Tehran will continue to reduce its nuclear commitments until European parties to the pact save it by protecting Iran's economy from US penalties.
Johnson will formally take over as prime minister on Wednesday afternoon, succeeding Theresa May, who stepped down over her failure to get parliament to ratify her Brexit deal.
The next leader of the Conservative party and the UK’s new prime minister is expected to be announced next Tuesday, following a vote by the party members.
Kim Darroch resigned as UK ambassador to the US after his memos characterising US President Donald Trump and his administration as "inept" and "dysfunctional" were leaked, enraging London's political and diplomatic class.
Officials say Britain is trying to find out who leaked emails sent by Kim Darroch, Britain's ambassador in US, who branded President Trump's administration as "dysfunctional" and "inept".
The announcement gives a boost to Britain's automotive sector hit this year by Honda and Ford's plans to close factories.
Philip Hammond says he might vote against PM Theresa May’s successor if they decide to force a hard Brexit through parliament.
Tense calm returned to the semi-autonomous territory after anti-government protesters broke into the legislative council in Hong Kong overnight.
Nazanin Zahgari-Ratcliffe and her husband recently ended their hunger strike to protest her imprisonment for espionage in Iran.
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