A frosty and perhaps icy start for most on Thursday with sunshine and wintry showers in areas exposed to the northwesterly wind. Cloudier in the southwest with outbreaks of rain and hill snow moving through. Rather breezy. Wintry and blustery
Editorial 24.10.24
Thursday’s headlines continue to speculate on the upcoming October budget, due out next week. The papers report on measures they expect to be included.
A handful of broadsheets lead with the supposed row that has erupted after Donald Trump accused the Labour Party of election interference.
Elsewhere, other domestic stories make the front pages including the death of a former British Olympian and the remarkable story of a baby who survived after her mother fell from a block of flats in Leeds.
The Daily Mail says the chancellors’ plan to impose national insurance on employers’ pension contributions in the private sector while sparing those in the public sector has sparked “fury.” The paper said such a move would raise £15 billion in the budget.
The i newspaper suggests the MoJ budget will be “on the chopping block” as the chancellor looks to make savings. Former justice secretaries Robert Buckland and Alex Chalk are quoted warning against the move. Buckland says “the idea there’s anything left to cut is fanciful”.
The Daily Telegraph leads on a different political story saying aides to the PM have been drawn into a row with Donald Trump over claims that Labour activists volunteering on the Kamala Harris campaign broke US electoral law.
The paper reports that several high-ranking members of the Labour Party attended the Democratic National Convention in August. It cites a US election lawyer who suggests that conversations between Labour and Democratic officials may have violated rules prohibiting foreign involvement in election campaigns. However, the paper notes that Labour has denied holding any formal meetings with Kamala Harris’s team.
The Times reports that Trump has accused the Labour aides of “anti-American election interference,” claiming it is part of a “far-left” scheme to install Harris in the White House. The paper describes his remarks as an “extraordinary attack” and warns that the incident could strain UK-US relations if Trump wins the November election.
The Sun says there will be a UK-wide ban on disposable vapes from 1 June 2025. The paper says new laws are being drawn up to protect children’s health and the environment but some are accusing the prime minister of “nanny state meddling.”
The Guardian says a report by the National Audit Office has found the cost of special needs education in England has hit £10bn a year. It says some local authorities have been forced towards insolvency by the rise in demand. The paper says the number of children entitled to support is expected to double to one million within a decade.
The Daily Mirror’s front page pays tribute to Olympian and professional strongman Geoff Capes who has died at the age of 75.
The Metro reports on the delivery of a baby whose pregnant mother died after falling from the tenth floor of a tower block in Leeds. The paper carries a picture of the baby, named Posie, on a critical care unit while big sister Demi looks over her.
Cuba extends shutdowns amid power blackouts and Hurricane damage Cuba has extended the closure of all non-essential workplaces and schools through Sunday due to a severe power shortage and the
France hosts Lebanon aid conference in Paris France is hosting an aid conference in Paris to support Lebanon, aiming to raise hundreds of millions of dollars in humanitarian aid. The
Three dead after migrant boat sinks in Channel Three people have died after an overloaded migrant boat sank off the coast of Calais in the English Channel on Wednesday. French
Polio vaccinations suspended amid Israeli bombardment The UN has postponed a polio vaccination campaign in northern Gaza due to heavy Israeli bombardments and mass displacement. The campaign, aimed at providing
Turkey strikes PKK targets after deadly gun attack Turkey’s military launched strikes on Kurdish militant group PKK sites in Iraq and Syria on Wednesday night, following a deadly attack near
Striking Boeing workers reject 35% pay rise offer Boeing workers on strike have rejected the company’s latest offer, which included a 35% pay increase over four years. According to the
The US dollar has rallied to its strongest level since August, boosted by a recent string of strong economic data and investor bets that Donald Trump’s chance of winning the presidential election is on the rise. https://on.ft.com/4eTWfqf
FT.com Tweet
Meta Platforms took down accounts on Threads and Instagram that track the private jet travel of famous figures including Chief Executive Mark Zuckerberg, Elon Musk, Kim Kardashian and others
WSJ Business Tweet
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.
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.
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.
UK inflation is expected to have jumped above the Bank of England’s two per cent target in October, bolstering a cautious approach to cutting interest rates in the months ahead.
A more gradual easing of monetary policy would be a headache for the new government, which has tried to reassure markets that last month’s big-spend Budget will boost economic growth without leading to runaway inflation.
Economists forecast the consumer price index (CPI), due on Wednesday, to come in at 2.2 per cent for last month, up from 1.7 per cent in September.
Higher energy prices are expected to drive the increase, with regulator Ofgem hiking its price cap on household bills by 9.5 per cent last month.
The Chancellor Rachel Reeves warned that financial regulation had “gone too far” last night as she pledged to rip up red tape and put the City watchdogs on a growth footing.
In her maiden Mansion House speech in the Square Mile, Reeves said that regulatory measures brought in since the financial crisis in 2008 have looked to “eliminate risk” and had “unintended consequences” in hampering growth.
“We cannot take the UK’s status as a global financial centre for granted,” she said. “In a highly competitive world we need to earn that status and we need to work to keep it.”
Reeves has laid out a package of reforms aimed at driving competition across financial services and unlocking a wave of capital from the UK’s pension system.
Copyright WTX News 2024
Newspapers, News Summary, Truth and freedom
We bring you CNN BBC FOX EURO NEWS AL JAZEERA – all in one place. With a perfectly crafted email with your news summary
Login below or Register Now.
Already registered? Login.