Every storm name for 2024/25 revealed as Met Office confirm Storm Bert to hit UK this weekend The Met Office has already confirmed the storm names to be used across 2024 and 2025 – as the UK braces for Storm
Editorial 22.10.24
Tuesday’s front pages report that police officer Martyn Blake has been cleared of the murder of Chris Kaba – an unarmed man who was shot dead during a police stop in south London in 2022.
Several papers feature images of Australian senator Lidia Thorpe heckling King Charles during his tour of the country.
The upcoming October Budget has prominent coverage on today’s front splashes as well as the Conservative leadership race.
The back pages report on tonight’s Champions League fixtures.
The Metro reports that Kaba was unarmed at the time of the shooting but was driving a car that had been linked to a previous shooting. The paper says the Old Bailey jury found Martyn Blake not guilty in just three hours following the three-week trial.
The Daily Mirror says Blake was “overcome with emotion” when the verdict was read out, but also quotes Chris Kaba’s saying it has left them suffering the “deep pain of injustice” and vowing to fight on.
The Guardian reports that the verdict has fuelled police anger that Blake was put on trial in the first place. The paper says cops want to see reform of a system they say punishes them for doing their job and that cops are lobbying ministers to make it harder for such a trial to happen again.
The Daily Telegraph reports Kaba was shot as he tried to ram his way through a police roadblock and that the officer told the trial he feared for one of his colleagues. The paper also quotes Conservative leadership hopeful Robert Jenerik who says the decision to prosecute Blake was wrong in the first place and calls Blake a “hero.”
The Times quotes Met Police boss Sir Mark Rowley as saying “no firearms officer sets out on duty intent on ending a life” and “the more we crush the spirit of good officers, the less they can fight crime.” The paper says Blake’s suspension from duties was immediately lifted following his acquittal.
The Sun’s headline highlights Blake was acquitted in just three hours after a two-year probe and a three-week trial.
The i newspaper leads on the upcoming October Budget saying teachers and nurses are among two million people who could be dragged into paying the 40% income tax rate by the end of the decade. Tax thresholds were frozen by the Tories in 2022 and were due to rise again from 2028, but the chancellor is said to be considering using next week’s Budget to extend the freeze until the end of the parliament.
The Daily Mail and the Financial Times lead on a government assessment of workplace reforms.
The FT says the changes could cost business £5bn a year. The reforms, which include the employment rights bill, include a ban on zero-hours contracts and measures to give unions access to workplaces. The British Chambers of Commerce is quoted by the paper warning that companies risk being “buried under a mountain of additional cost.”
The Mail’s front page notes the assessment found the changes could lead to more strikes and workplace disputes, though it also quotes deputy PM Angela Rayner, who insists the government is “pro-business” and praised a “new era for working people.”
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Gold has surged to an all-time high, fuelled by geopolitical tensions and central bank interest rate cuts
FT.com Tweet
Despite uncertainty about the coming Autumn budget, buyers continued to pile into the property market after the Bank of England cut interest rates, with the number of homes sold up by a third year on year.
CITY AM 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.
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