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Editorial 04.10.24


Friday’s newspaper headlines reflect a wider variety of news than what we’ve seen during the week. The latest in the Middle East makes several front splashes but does not dominate the newspapers this morning. 

A handful of papers report on Joe Biden’s comments on a potential Israeli retaliatory attack on oil – his comments have led to the price of oil rising to its highest in more than a month. 

News that the UK is set to hand over sovereignty of the Chagos Islands to Mauritius has led the right-leaning newspapers into meltdown – despite the plans to hand back the island being drawn up under the Conservative government.

Other domestic stories, including a vote on assisted dying, as well as royal and showbiz stories, make up the front pages this morning. 


‘Oil prices surge following Biden’s comments’

‘Since Biden’s comments oil prices have surged,’ reports business newspaper Financial Times.

The FT says an attack on Iran’s oil infrastructure has been suggested as a likely response to Tuesday’s missile assault on Israel, with Biden indicating the issue was under discussion on Thursday, the paper reports. Since Biden made the comment, the price of oil has risen to its highest in more than a month, the paper adds. 

‘Strikes could have knock-on-effect on prices in UK,’ warns the i.

The i newspaper also leads on the concerns following the rise in the price of oil after possible strikes on Iran’s oil industry were discussed by the US president. The paper warns that such strikes could have a “knock-on-effect” on petrol prices for UK customers.

‘Biden’s remarks were made off-the-cuff,’ suggests The Guardian.

In the Guardian’s coverage of the comments, the paper notes that the comments were made “off the cuff”. His comments did not make clear whether his administration was holding internal talks or directly talking to Israel, nor did it clarify his position on such an attack, the paper notes. 

‘Biden wants Israel to strike oil sites not nuclear sites,’ says The Times.

“Strike oil, not nuclear,’ that’s the headline on the front page of The Times. The paper suggests the US president is determined to prevent the Israeli prime minister from striking nuclear sites – “a red line for Iran that could prompt a regional war.” 

‘UK returns sovereignty of the Chagos Islands’

‘Starmer ignored USA ,’ worries The Times.

The Times says the prime minister ignored private warnings from the US in ceding control of the islands to Mauritius. Officials “actively warned against” the move, according to the paper. There are concerns that the move could benefit China – an ally of Mauritius, a claim denied by government insiders, the paper adds. 

‘A national scandal,’ suggests the Telegraph.

The Telegraph claims there are fears over the future of Gibraltar after the news came out that the UK will hand back sovereignty of the Chagos Islands to Mauritius after a decades-long dispute.

The paper’s editorial calls it a “national scandal” and calling it a “giveaway.” 

‘Shameful retreat that plays into the hands of China,’ threats the Mail.

The Daily Mail dedicates its entire front splash to the story. The paper accuses the prime minister of a “shameful retreat” and suggests handing over control of a “strategically vital” island could threaten global security.

The left-leaning media has a different view.

‘Tory meltdown over crisis they created,’ The Independent reminds its readers.

The Independent highlights the “Tory meltdown” since the news broke. The paper says an extraordinary blame game has emerged after Tories slammed the government for handing back sovereignty – but it has since emerged that the talks were instigated two years ago under the Tory government. 

‘Historic accord,’ notes The FT.

The Financial Times calls it a “historic accord,” and notes the UK will retain a military base on the island. 

‘Putting right one of the last remaining wrongs from British colonial rule,’ is the praise from the Mirror.

The Daily Mirror praises the move saying ministers have “finally put right one of the last remaining wrongs from British colonial rule.”

‘Chagossians still feel ignored, as they had no say in the decision,’ reports The Guardian.

The Guardian looks at the reaction from Chagossians. The paper says not everyone is happy that sovereignty has been passed to Mauritius, and others are unhappy that the indigenous people of the land have had no voice in the discussions. But many are celebrating saying the deal is a “recognition of the injustice done against those who were forced to leave their homes”.

‘UK scientist working on cancer jab’ 

‘Hopes it could be given preventively on the NHS,’ says the i.

The i reports on UK scientists who are working on a vaccine to “wipe out ovarian cancer within five years.” The paper says there are hopes it could be given to women preventively on the NHS, “with the aim of eliminating the disease”.

‘UK scientists aiming for world first,’ notes the Mirror.

The Mirror also reports on the story noting UK “scientists aim for world first”.

‘Assisted dying vote’

‘Dame Ester says vote a crucial step forward,’ says the Express.

The Daily Express continues its coverage of assisted dying. Dame Esther Rantzen says – ahead of a potential Commons vote – she hopes the measure will be legalised in her lifetime. Dame Ester has stage four lung cancer and calls the pledge for a vote on the bill a “crucial step forward.”

‘Reassurance and relief,’ says The Guardian.  

The Guardian says Labour MP Kim Leadbeater says Parliament should be able to consider a change to the law that would offer “reassurance and relief – and most importantly, dignity and choice.” 

Sarah Wilkinson
Sarah Wilkinson@swilkinsonbc
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GKN Aerospace owner Melrose holds outlook despite supply chain challenges

Melrose Industries said it is on track to hit looming profit targets despite the industry-wide supply chain challenges plaguing the aerospace sector.

The Birmingham-based manufacturer said this morning it expects adjusted operating profit of between £550m and £570m this year and £700m in 2025.

In an update to markets, Melrose flagged a seven per cent year-on-year rise in revenue, driven by a 17 per cent jump in its Engines division.

Aerospace manufacturers, particularly the major planemaker’s Airbus and Boeing, have struggled to meet a significant ramp-up in post-Covid demand from their airline customers, as a result of long-running supply chain problems.

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Huel: Record sales as profit triples at brand backed by celebrities

Huel, which counts the likes of Idris Elba, Steven Bartlett and Jonathan Ross among its investors, has reported record sales as a profit almost tripled during its latest financial year.

The Hertfordshire-headquartered company, which is known for its vitamin-enriched food items, has reported a revenue of £214m for the 12 months to 31 July, 2024, up from the £184.5m it achieved in the prior 12 months.

Huel’s pre-tax profit also jumped from £4.7m to £13.8m over the same period, according to new figures.

The business said its products are now sold in 25,650 stores, up from 11,250.

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Average price tag on a home falls as rate cuts spark demand revival

The average price tag on a newly marketed home dropped by over £5,000 in November as buyer demand revived in the wake of the Bank of England’s recent interest rate cut.

According to Rightmove, the standard price for a newly marketed home currently sits at £366,592, a 1.4 per cent month-on-month drop.

That downward trend is steeper than usual, with a typical November fall being around 0.8 per cent.

Rightmove said its data indicated that a fall in buyers approaching estate agents following the Autumn Budget, had been offset by a rise in buyer demand after the Bank of England lowered interest rates to 4.75 per cent in only the second cut this year.

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Starmer flies off to the US to give money & escalate the war

Sir Keir is in Washington for talks with US President Joe Biden on Friday, as allies of Kyiv discuss giving Ukraine permission to fire their missiles at targets inside Russia.

This will be seen as an escalation by Putin. He told Russian state television that this would “mean nothing other than the direct participation of NATO countries – the US and European countries – in the war in Ukraine.”

Alongside the license Starmer will be pledging to give more financial support to Ukraine specifically at a time when the UK is cutting winter fuel payments to grandparents in the UK.

Tesco loses big HR legal case in the Supreme Court

Tesco loses big HR legal case in the Supreme Court, its ‘hire and fire’ appeal after the Supreme Court ruled it cannot terminate its employees’ contracts for the purpose of depriving them of retained payment.

The judge said that employees contracts contained a clause barring the supermarket giant from removing their right to retained pay.

This provides a precedent for that other companies who have been using new contracts to get out of previous liability.

The most important takeaway for employment professionals and HR teams for this case is that communications between unions, employers and employees issued during consultation were held to be relevant to the interpretation of what particular contractual terms actually meant.

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