UK names new official to head finance ministry

Britain's government named the top official in the country's trade ministry, James Bowler, to head the finance ministry after new chancellor of the exchequer Kwasi Kwarteng ousted his predecessor last month, Qazet.az reports according to Reuters.

Bowler replaces Tom Scholar as permanent secretary, who departed shortly after Kwarteng took office.

That departure unsettled finance markets as it broke the British convention that non-partisan officials remain in post after a change of political leadership.