Most areas will have another rather cloudy day with some hill fog and the odd patch of drizzle. Some sunshine across northern Scotland and locally elsewhere in the north and west, where also breezy. Mild where the sun breaks through.
Editorial 07.11.24
Images of a happy and celebrating Donald Trump feature on every front page after his shock re-election. The former president has won the 2024 US election by a landslide. The GOP has taken back the Senate, looks on course to take the House of Representatives and the president-elect looks like he’s won the popular vote as well.
As Donald Trump prepares to appoint his cabinet ahead of his return to the White House in January, the UK papers react along clear lines: the right-leaning press celebrate his return whilst the left-leaning media looks at the results with disappointment and anxiety for the future.
The Guardian dedicates its entire front page to the election along with the headline “American dread.” The paper says people in the US have woken up to a transformed country and a rattled world.
The FT says Trump’s comeback is expected to pitch American democracy, US alliances and global markets into an “era of upheaval.”
The i newspaper says the former president won the race by a “landslide” and says the mandate he won on is for a radical right-wing agenda to reshape America.
The Daily Mirror asks “What have they done … again?” The paper reports on fears that Trump will be even more divisive and brutal than he was during his first four years in office. The paper says America’s allies must prepare for a new world order under Trump – a man who favours dictators and strongmen.
The Sun says he has been rehired after he was “shot, sued, tried, insulted and written off.” The paper says it is not bewildered by the second coming of President Trump because most Americans love capitalism, freedom and aspiration and detest socialism, meddling regulations and wokery.
The Daily Mail calls the win a “comeback to Trump all comeback.” The paper goes on to say liberals in the US and Britain have been “left bewildered and tearful” and the result is a nightmare for “Starmer and his Donald-loathing Cabinet.”
In its editorial, Sarah Vine says Harris lost because of “poor judgement” – in believing she was winning over women voters. Vine argues that Harris should not have assumed women were more interested in abortion rights than the economy and illegal immigration.
The Times highlights Trump’s promise of a “golden age” for America. The front page features two sub-headlines – with opposing opinions. One says “Face it, liberals, this is what millions wanted” and “Stand by for West’s betrayal of Ukraine”.
The paper’s editorial says the global economy will suffer if Trump carries out his threat to impose a 60% tariff on imports from China and 20% from the rest of the world. The paper also shares its fears for Ukraine now Trump has been elected to power.
The Daily Telegraph says “Senate, popular vote and every swing state in unprecedented political comeback.” The paper has an opinion piece by Farage who seeks to explain Trump’s appeal among voters and predicts pressure on the UK PM.
The Daily Express reports on the “over-the-top attacks” on Donald Trump and how the relations between the UK and US might shape up under Trump.
President-elect Donald Trump is preparing to select his top team for his return to the presidency in January. The former president won the 2024 election by a landslide beating Vice
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US Treasury yields jumped and Bitcoin surged to a new record as markets reacted to Donald Trump’s victory in the presidential election.
Republicans have taken back control of the Senate, while Trump is due to return to the White House after winning the crucial battleground of Pennsylvania.
Trump declared victory in a speech in Florida after having earlier won the key swing states of North Carolina and Georgia. The win was officially called by media outlets later in the morning.
Walking up to the stage at 2.25am local time to a raucous ovation as God Bless The USA by Lee Greenwood was played, the former president told the crowd: “This is a movement like nobody’s ever seen before, and frankly this was I believe the greatest political movement of all time. There’s never been anything like this in this country and maybe beyond.
Nvidia has toppled Apple as the world’s most valuable company after Apple signalled to investors that it may never match the profitability of its flagship iPhone in future products.
Chip designer Nvidia hit a market capitalisation of $3.43t (£2.66t) at close yesterday after the stock rose nearly three per cent, nudging Apple’s $3.38t (£2.62t) into second place. Microsoft sits in third place with a market cap of £3.06t (£2.37t).
Nvidia’s rally this year has been fuelled by insatiable demand for its graphics processing units (GPUs), which are necessary for powering AI across sectors, from tech giants to healthcare.
The stock is also up in pre-market trading on the news that Donald Trump has clinched the US presidency.
The FTSE 100 surged at the open today, and sterling crashed as traders digested how Donald Trump’s presidency will impact the global economy and the UK.
London’s flagship index was trading up over 1.4 per cent in early trading, pushed higher by a near six per cent jump for the US-focused construction equipment rental firm Ashtead and sharp rises for Barclays and IHG.
Ashtead, which makes some 85 per cent of its revenue in the US and has reportedly considered swapping its listing to New York in the past, is likely to benefit from a Trump-led construction drive.
“Trump did not mention tariffs in his victory speech, and this is why we are seeing UK firms with US exposure rallying on Wednesday,” said Kathleen Brooks, research director at XTB. “A win for Trump is also seen as being good for the US economy, which is also boosting big UK companies who export to the US.”
Excess heat from London’s Underground will power iconic buildings in a new £1bn net zero scheme.
This low-carbon network will soon channel excess heat from the Underground to power several sites in central London, namely Downing Street and the National Gallery.
This comes following last week’s Budget, in which chancellor Rachel Reeves announced significant investments in green energy, including a £2bn pour into UK’s hydrogen schemes.
The initiative was recently launched by Hemiko and Vital Energi, who have partnered to transform Westminster’s heating infrastructure, marking a major step in the UK’s journey towards net zero.
The average home in Britain will be £84,000 more valuable in five years’ time, according to a new forecast, but London house prices will grow slower than anywhere else in the UK.
Real estate giant Savills has said it expects the typical property value to reach £442,000 by the end of the period to 2029, up from £358,000 currently.
In 2025, house prices are predicted to increase by four per cent, or £14,500, on average.
However, according to figures released by JLL, house prices will rise by 20 per cent in the five years to 2029 with the firm citing that lower mortgage rates will bring buyers back to the market.
Economists are concerned by the likely impact of Donald Trump’s economic policies on the UK following his historic election victory.
During the campaign, Trump threatened to increase tariffs on foreign imports by between 10-20 per cent while also placing 60 per cent tariffs on Chinese goods.
A tariff is a levy imposed on imports. By putting extra costs on businesses importing products from overseas, tariffs limit trade and lead to higher prices for consumers.
If Trump went ahead with his threats to impose blanket tariffs, economists agreed that the global economy would take a serious hit.
The Chancellor would be in breach of her own fiscal rules if interest rates remain just 30 basis points higher than the fiscal watchdog forecasts, Office for Budget Responsibility (OBR) economists have said.
Giving evidence to the Treasury Committee, OBR member Tom Josephs told MPs that his colleagues conducted analysis that found “a change of the effective interest rate of 0.3 per cent…” was all that was needed for Rachel Reeves to break her pledges.
“A one percentage point increase in interest rates adds about £16bn or so to borrowing,” Josephs added.
The Chancellor chose to ramp up borrowing and spending by up to £70bn each year at last week’s Budget, leaving just £10bn of fiscal headroom to achieve her commitment to balance day-to-day spending by 2029.
Copyright WTX News 2025
