Sunday, February 2
Morning fog patches across northern England and Northern Ireland, lifting with a mix of bright spells and scattered coastal showers. Rather cloudy and mostly dry elsewhere but outbreaks of rain and drizzle across the southeast of England. Feeling rather cold. Tonight: Rain in the southeast clearing. Otherwise, coastal showers continuing in places. Patchy fog and frost, most likely in the east. Colder than previous nights with more widespread frost further north.
Tuesday’s news is dominated by the inauguration of Donald Trump and his first day as the 47th president of the United States. As soon as he returned to office he issued orders including withdrawing the US from the World Health Organization and declaring an emergency regarding the US-Mexico border. Many publications look at what sort of relationship the US and the UK will have over the next four years.
Prime Minister Keir Starmer has announced a public inquiry into the murder of the three little girls at a dance class in Southport last year. Axel Rudakubana pleaded guilty to their murders as well as attempted murder and terror-related charges including making ricin. Many news publications report he had planned to commit the UK’s first school massacre just a week before he murdered the children. Since his guilty plea, it has also been revealed that he was referred to a counter-extremism scheme three times.
The prime minister has said the state failed the victims and an inquiry will be held to understand how this happened.
Markets are significantly underestimating the chance that the Bank of England will have to step up the pace of cutting interest rates, Goldman Sachs has argued.
Traders anticipate just two interest rate cuts this year with one more cut priced in for 2026, which would leave the benchmark Bank Rate at 4.0 per cent. It currently stands at 4.75 per cent.
Investors are concerned by signs of stubborn inflationary pressures in the UK economy, with many economists predicting that the headline rate will increase to over three per cent in the spring.
Figures out yesterday also showed that private sector pay growth hit 6.0 per cent in the three months to November, well ahead of expectations.
Bank of England: Goldman Sachs expects deep interest rate cuts
Tuesday’s front pages are dominated by two main stories: Donald Trump’s inauguration and the guilty plea entered by Axel Rudakubana on the first day of his trial for the Southport attacks. The 18-year-old admitted to killing three young children – aged six, seven and nine – at a dance class in Southport in July.
Many papers lead with Trump’s inauguration and what America’s next four years under his leadership could look like. Some papers offer opinions on how the UK should approach the new leadership in the United States.
The Daily Mirror declares “He’s back… and waging war on everything”. The paper picks up on Trump’s swift start to his presidency including starting the process of withdrawing the US from the World Health Organization and declaring a national emergency at the southern border.
The Metro dedicates its whole front page to the inauguration. The paper carries a picture of Trump hugging his family, saying “now the world waits to see what happens next…”
The Daily Mail leads with Boris Johnson’s experience at the inauguration. Writing in the paper, the former prime minister says Trump’s address was an expression of “surging optimism and pure bullishness.”
The Times quotes the new president who vowed the “golden age of America begins right now.” The paper notes that his return – after defeat, criminal prosecutions and an assassination attempt – is a “remarkable comeback,” whilst noting his “far-reaching and combative policy agenda.”
The Daily Star has a different take on the news. Paraphrasing the oath taken by presidents as part of the inauguration ceremony, it says: “So help us God”.
The Guardian picks up on Trump’s comments that the US would “flourish and be respected again all over the world”. The paper describes it as a “radical shake-up of the global order”, and quotes him saying: “We will be the envy of every nation, and we will not allow ourselves to be taken advantage of any longer.”
“Unleashed” reports the i newspaper. The paper says he began his new term by pledging a boost in fossil fuel production, promising a crackdown on illegal migration and signing an executive order proclaiming that the US government will officially recognise “only two genders.” The paper points out the irony of a convicted felon pledging to transform what he called a “declining country.”
The FT reports Trump is returning to the White House with broader support than when he left in 2021. The paper says the 47th president has pledged to “deliver quickly on the populist and nationalist platform that swept him to victory in last year’s presidential race”. The paper highlights that Trump has repeated his vow to take back control of the Panama Canal and withdraw the US from the Paris climate accord. He has so far stopped short of announcing the new import tariffs pledged before the election.
The Sun asks “Why did no one stop him?”. The paper says the prime minister will address the nation today after ordering a public inquiry into the attack. The paper says Sir Keir has admitted the state “failed to protect” the three young girls killed by Axel Rudakubana last summer.
The Daily Mirror says “failed by the state.” The paper says it can now be reported that he had been reported to the government’s Prevent counter-extremism scheme at least three times. He also pleaded to eight counts of attempted murder in relation to the eight other kids.
The Telegraph says Robert Jenrick is among those asking why the public were initially told the attack was not being treated as terror-related. He calls on the prime minister to “be open about what he knew” about the nature of the attack and when.
Much like print media, social media is reacting to Donald Trump’s inaguaration and first day as the 47th president of the United States. The public also react to the Southport killer pleading guilty and the prime minister’s announcement of a public inquiry.
Suspended South Korean President Yoon Suk Yeol denied allegations of ordering the arrest of lawmakers during his attempt to impose martial law. Yoon made the denial during his first appearance
Australia’s federal police are investigating whether international actors are funding local criminals to commit antisemitic crimes. Recent incidents include the arson of a childcare centre in Sydney, which was also
Fianna Fáil leader Micheál Martin is set to be reinstalled as taoiseach (prime minister) when the Irish parliament reconvenes on Wednesday. He will succeed Fine Gael’s Simon Harris, who will
Instagram users have reported seeing “results hidden” messages when searching for terms like “Democrat” or “Democrats.” Meta, Instagram’s parent company, acknowledged the issue, attributing it to a technical error affecting
A rare snowstorm has swept through the southern U.S., bringing snow and freezing rain to areas unaccustomed to winter weather. Four deaths have been linked to the cold so far:
Four people were injured in a stabbing attack on Tuesday in Tel Aviv, with one victim in serious condition from a neck wound. The attack occurred on Nahalat Binyamin Street
Trump’s renewed warnings sent the Mexican peso and Canadian sliding against the US dollar, and trimmed an earlier sell-off in the greenback. https://on.ft.com/4g5yZFA
The UK has been ranked as the second most attractive country to invest in by global CEOs, behind only the US, as British CEOs feel confident about growth in the country’s economy. This is the first time that the UK has been ranked second in the 28-year history of PwC’s CEO Survey. “Our CEO survey findings are a vote of confidence in the UK as a place for business and investment,” said Marco Amitrano, senior partner at PwC UK. Read the full story here 👇 https://cityam.com/uk-ranked-second-best-investment-target-by-global-ceos/
Consumer confidence in the health of the UK economy slumped in January, pointing to further headwinds in the coming months.
A net -34 of respondents to the British Retail Consortium’s (BRC) latest sentiment monitor said that the economy would get worse over the next three months, down from -27 in December.
This put confidence in the health of the economy at its lowest level since the BRC started collecting data on the topic in March 2024.
The survey comes after a succession of disappointing data releases, which indicate that the economy slowed significantly in the second half of last year.
https://www.cityam.com/uk-economy-consumers-catch-january-blues-as-confidence-slumps/
The government’s tax hikes pose a “major threat” to the health of the labour market, a leading economist has warned, as markets prepare for the latest jobs market figures.
The labour market has been a key source of strength for the UK economy, with continued high employment helping to sustain strong levels of wage growth over the past couple of years.
Many forecasts for 2025 assume that the continued resilience of the labour market will ensure that economic growth accelerates compared to last year.
But economists are worried that measures announced in the government’s maiden Budget will threaten the health of the labour market.
https://www.cityam.com/rachel-reeves-tax-hikes-pose-major-threat-to-uk-labour-market-resilience/
Copyright WTX News 2024
