The FT reports that Ernst & Young has scrapped plans to split up its audit and consulting businesses.
An image of yesterday’s junior doctors’ strike kicking off in England sits atop the paper, but the business paper’s main focus is the news that Big Four firm EY has scrapped plans to break up its audit and consulting businesses after “months of internal disagreement”.
Elsewhere there is the claim that the Confederation of British Industry is “fighting for its reputation” following the sacking of its boss Tony Danker over sexual misconduct claims.
Almost all of Thursday’s UK newspaper front pages feature an image of Chancellor Rachel Reeves crying during Prime Minister’s Questions. The cause of the tears is the subject of much speculation this morning as some papers expect the chancellor to be sacked, whilst other front pages look at the reaction the markets had to the tearful episode.
The Portuguese Football Federation has expressed deep sorrow over the deaths of Diogo Jota and his brother, Andre Silva, in a car accident in Spain.
Thursday’s headlines are dominated by analysis over Chancellor Rachel Reeves’s tearful appearance at yesterday’s Prime Minister’s Questions. As the PM faced questions at the dispatch box, he was asked if the Chancellor would remain in post and appeared to avoid answering. The Chancellor was seen crying behind him. Starmer has since said he backs the chancellor completely and she will not be replaced.
The chancellor’s tears caused some panic in the market, leading to a multi-billion-pound sell-off. There is further analysis of Starmer’s grip on his party, as some Labour MPs want a cabinet reshuffle.
The prime minister will set out a 10-year plan for a “neighbourhood health service” in England this morning, in a move he’ll surely be hoping will deflect attention from his chancellor.
Four people have been charged by counter-terrorism police over a break-in at RAF Brize Norton last month, during which military planes were damaged. It comes as MPs voted to ban Palestine Action under anti-terror laws.
In sports news, Emma Raducanu is having a great time at Wimbledon, and the Lionesses and the Welsh women’s team are preparing for their opening Euro 2025 matches.
Emergency services, including police, fire and rescue, and coastguard, were involved in the search operation that led to the recovery.
The House of Commons voted 385 to 26 to proscribe Palestine Action as a terrorist organisation under the Terrorism Act 2000.
Chancellor Rachel Reeves was seen in tears during Prime Minister’s Questions after Labour was forced into a major U‑turn on welfare reforms, ditching planned cuts to disability benefits and abandoning a £5 billion-a-year saving target.
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