A cold but mostly dry and bright day for much of Wednesday. However a band of heavy rain and strong winds will move into Northern
South Korea’s political crisis leads many papers this morning as President Yoon Suk Yeol declared martial law before the country’s parliament rejected the move. It caused a night of chaos and fear for South Korea and now the president is facing calls for his resignation and calls for impeachment.
The tabloids continue their coverage of the Gregg Wallace scandal as more allegations come to light. The papers report the latest allegations that Wallace groped contestants on MasterChef.
The October Budget has ongoing coverage as the papers speculate on a potential U-turn.
Pictures of the royal family – mostly Princess Kate, make many of the front pages as she returned to royal duties last night following her cancer treatment.
The FT says the South Korean president’s failure in his bid to declare martial law leads the paper. The paper says Yoon Suk Yeol has signalled he would back down, following the country’s parliament rejecting the move. Troops had deployed to enforce the hardlines former prosecutor’s declaration, which Yoon initially said was needed to “eliminate anti-state forces,” the paper adds.
The Guardian says the declaration of martial law led to “some of the tensest hours” in South Korea’s recent history. The president announced that troops have since returned to their barracks after they had gone inside the national assembly.
The Independent says civilians and security forces have clashed after the president’s shock declaration triggered angry protests.
The Sun leads with the latest Wallace allegations. The paper says a former contestant has revealed how Gregg Wallace “thrust his groin at her face three times as she crouched at an oven” – scenes the paper says were edited out of the show. She added that Wallace “made a crude sexual joke about the meat”, the Sun says.
The Daily Mail calls the latest accusations a “bombshell.”
The sentiment is shared by the Daily Mirror who also says the “bombshell” allegations have seen two women accuse him of ‘groping.’
The Independent notes the BBC caved to pressure and has agreed to pull the MasterChef Christmas special off the TV.
The Independent says the chancellor is under pressure as the prime minister attempts to shift the focus to higher living standards. The paper says fears are growing that Labour could be planning a new tax raid after the chancellor refused to confirm her recent pledge not to repeat her £40bn Budget hikes.
Yorkshire Post says the chancellor has defended her budget. Rachel Reeves has said that she stands by her claim that Labour will be the most pro-business Government in history despite criticism from over measures in the Budget.
The Daily Telegraph reports the number of civil servants working at their desks has fallen since Labour came to power, ‘leaving the private sector to pick up the slack.”
The Telegraph reports Princess Kate welcomed the Emir of Qatar to the UK marking her first involvement in a state visit since undergoing cancer treatment.
Metro says “It’s Kate to be back!”
The Times say Camilla “shook off a bout of pneumonia” to join Kate and guests – which also included David and Victoria Beckham for a state banquet at Buckingham Palace.
The main opposition Democratic Party called on Yoon to resign or face impeachment over the declaration of martial law. “Even if martial law is lifted, he cannot escape charges of
Ukraine pushes for NATO membership Ukrainian President Volodymyr Zelenskyy has now proposed allowing those parts of Ukraine that are free to join the alliance. Russian-occupied areas in Eastern Ukraine as
South Korea’s won cut losses against the U.S. dollar after President Yoon Suk Yeol said he would lift the country’s first martial law order in more than four decades. The
Netumbo Nandi-Ndaitwah of the ruling SWAPO party won Namibia’s presidential elections outright in the first round with 57% of the vote, results published by the electoral commission on Tuesday showed.
President-elect Donald Trump’s lawyers on Tuesday formally urged a New York state judge to drop the criminal case where he was convicted on 34 counts related to hush money paid
French Prime Minister Michel Barnier on Tuesday, December 3, said it was possible his government could survive a no-confidence vote in parliament, evoking a possible “reflex of responsibility” from MPs.
China retaliates against latest US chip restrictions
Europe’s carmakers used to rule the world. Now they are fighting battles on every front.
It has been announced that engineering firm Costain has been awarded a contract by HS2 worth upwards of £400m.
The deal will see the group supply tunnel and lineside mechanical and electrical systems over a seven-year period, beginning in the first quarter of 2025.
It comes after a stellar year for the company, which has seen its shares rise over 60 per cent since January.
Costain reported a near-doubling of profit in its half-year results in August. It also announced a £10m share buyback programme.
https://www.cityam.com/costain-wins-major-hs2-contract/
Shein’s reported decision to list in London rather than New York is likely to be an anomaly rather than a trend, says Megan Penick
Fashion giant Shein’s prospective IPO – slated for early next year – has caused something of a stir in the City. Indeed, the decision to list on the London Stock Exchange appears on the surface a major vote of confidence for London, as it looks to compete with the New York Stock Exchange and Nasdaq. In an uncertain economic landscape, it provides reassurance that Britain is still an attractive proposition for the world’s biggest businesses.
In particular, it has prompted speculation that this could be the beginning of a trend that would see more global firms – particularly those based in China – shun US listings in favour of London. The incoming US government’s plan to introduce tariffs on goods from China adds to the argument that Chinese firms that had been eyeing a listing in the US – particularly those that have significant sales in the US – may think again.
However, the feeling in New York is somewhat different. The general sense is that this is a one-off, driven by factors outside the election.
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