Tuesday will be dry, bright and cold across England and Wales. A dry and cold start further north too, but rain will arrive into Northern
Tuesday’s tabloids continue coverage of the Gregg Wallace scandal – reporting that he has since apologised for his comments that his accusers are just “middle-class women of a certain age”. Several papers report MPs want a cultural change at the BBC, noting this is another in a string of allegations made against a BBC presenter, whilst other headlines reflect news that the BBC will continue to air his show MasterChef, despite the growing list of accusations.
The prime minister’s foreign policy speech at the Lord Mayor’s banquet on Monday has provoked contrasting reactions from the press.
International news also finds a place on the UK front pages this morning.
Donald Trump has threatened to release and pardon January 6 rioters, in response to Joe Biden issuing a ‘full and unconditional’ pardon to his son Hunter Biden.
There are fears that the French government is about to collapse after the French prime minister pushed through his ‘austerity’ budget.
The latest Premier League gossip dominates the back pages.
The Guardian reports that the BBC refuses to pull the hit show MasterChef despite the accusations facing the host Gregg Wallace. In its editorial, the paper says “By drawing attention to the troubling behaviour of a male celebrity, Kirsty Wark recalls the spirit of #MeToo.”
The Daily Mail says BBC bosses are refusing to take ‘misogynist’ Gregg Wallace off the air. The paper says Melanie Sykes has revealed that spending time with Gregg Wallace on Celebrity MasterChef in 2021 was the reason she walked away from her television career.
The Sun says BBC bosses have “defied MPs by airing an episode of MasterChef” featuring Wallace on Monday as well as declining to pull Christmas episodes. The paper says MPs want the programme taken off TV and reports “senior politicians” describe the broadcaster as needing “wholesale cultural change.”
The Daily Mirror highlights Wallace’s apology in its headline and reports the TV presenter issued his apology after he branded his accusers “middle-class women of a certain age.”
The Independent says “Wallace forced to eat humble pie – so will BBC cancel hit show?” – the paper notes he apologies for his attack on ‘middle-class women of a certain age’ after No 10 accused him of misogyny. The paper says there is pressure on the BBC to stop broadcasting the show “to avoid triggering those who called out his inappropriate behaviour.”
The Daily Express has a different take. The paper describes him as being “under siege.” The paper notes Wallace “unfollowed his MasterChef co-star John Torode and his wife Lisa Faulkner on Instagram after they failed to show public support for the BBC star.”
The Times leads on the prime minister’s comments about the UK’s relationship with the US ahead of Donald Trump’s return to the White House. The paper says the PM will invest “more deeply than ever” in links with Washington. In his foreign policy speech on Monday, the prime minister also warned Russia poses a “near and present danger” to allies in the West, the paper adds.
The Daily Telegraph also reports on the prime minister’s speech. The paper focuses on PM Starmer’s pledge not to side with Trump over the EU. The paper says the PM told the audience it was “plain wrong” to suggest his presence in the White House would mean the UK had to get closer to the US than Europe.
The FT reports that Nato’s new chief has warned the incoming US president that the US faces a “dire threat from China, Iran and North Korea should Ukraine be pushed to sign a favourable peace deal with Russia. In an interview with the paper, Mark Rutte says has “made a pitch to the president-elect to stick with Nato” and keep supporting Kyiv.
The Independent says the French government is on the brink of collapse as PM Barnier pushes through an austerity budget. Michel Barnier told MPs they must face a ‘moment of truth’ after both the left and the far right lodge motions to bring down the government.
The Daily Telegraph also notes the French government is on the verge of collapse. The paper says PM Michel Barnier has pushed through his austerity measures using his presidential decree, prompting opposition parties to file motions of no-confidence.
The FT says the French premier has defended his budget at the National Assembly in Paris after his administration “became the latest European government to stand on the brink of collapse.”
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
FT.com Tweet
Europe’s carmakers used to rule the world. Now they are fighting battles on every front.
WSJ Business Tweet
House prices rose at their fastest annual rate in two years in November as the housing market continued to display surprising strength.
New figures from Nationwide show that house prices rose by 3.7 per cent year-on-year last month, up from 2.4 per cent the month before.
This means that house prices are just one per cent below their all-time high recorded in the summer of 2022.
In November alone, house prices rose 1.2 per cent, the largest monthly increase since March 2022.
The government’s move to limit inheritance tax relief for family-owned businesses could cost Britain roughly 125,000 jobs and significantly reduce economic activity, new research has found.
The change unveiled in Labour’s first Budget could reduce the value of goods and services produced across the UK economy by £9.4bn and incur a £1.3bn net loss for the Treasury between 2026/27 and 2029/30, according to a study by CBI Economics.
The latter figure contrasts with a £1.4bn gain in revenues estimated by the Office for Budget Responsibility over the same period from the change to business property relief (BPR).
BPR allows assets of privately-held firms and shares in companies listed on London’s junior stock market AIM to be passed on free from inheritance tax.
Budget could wipe out 125,000 jobs in family businesses
The barrage of takeover bids for firms listed on the London Stock Exchange this year has jumped to £52bn in value, fuelling fears over the health of the City’s equity markets.
A total of 45 London-listed firms have been approached, agreed to, or completed acquisitions since January, according to data provided to City AM by investment bank Peel Hunt.
Charles Hall, head of research at Peel Hunt, said the level of takeover activity among FTSE 350 businesses was “unprecedented”, with 21 bids this year.
The biggest deal is the planned £5.7bn merger of UK cardboard box giant DS Smith and US rival International Paper, followed by investment platform Hargreaves Lansdown’s £5.4bn sale to a group of private equity buyers.
London Stock Exchange takeover bonanza tops £50bn
Rising global trade barriers threaten to drag on global economic growth and unsettle the stability of the UK’s financial system, the Bank of England has warned today.
In its half-yearly financial stability report, the central bank said the financial system could be hit by disruption to cross-border capital flows and a reduced ability to diversify risk.
While Threadneedle Street did not refer directly to the threat of US tariffs, fears over the direction of American trade policy have grown since Donald Trump won the Presidency earlier this month.
On the campaign trail, the president-elect threatened flat tariffs of 20 per cent on all imports and 60 per cent on those from China.
Bank of England warns on threat of global trade barriers
Labour MPs are being urged to back scrapping the “vindictive” changes to inheritance tax (IHT) on farms, as the Conservative Party prepares to bring a vote on the issue.
Tory MPs are set to use their opposition day debate on Wednesday, December 4, to insist Parliament hold a vote on Labour’s controversial move for farmers to pay more IHT on land.
In Chancellor Rachel Reeves’ first Budget, she announced plans for changes to agricultural property relief (APR) and business property relief (BPR), which the Tories say could see farming families face tax bills of up to millions of pounds.
Shadow environment secretary Victoria Atkins said: “Labour’s vindictive family farm tax threatens to destroy British farming as we know it.”
https://www.cityam.com/labour-urged-to-scrap-vindictive-farm-tax-as-tories-set-to-force-vote/
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