Today: A weakening band of rain will move south across Scotland, with brighter but colder weather arriving in the northeast. Elsewhere fog patches lifting to leave a mostly dry and mild, though rather cloudy day. Patchy drizzle, with some brighter
Editorial 24.09.24
“Light at the end of this tunnel” – Tuesday’s front pages continue their coverage of the Labour Party conference taking place this week, the first party conference in power in more than 15 years.
Some newspapers cover Rachel Reeves’s speech yesterday, as the chancellor promised no return to austerity and laid out a more optimistic view of the UK economy. Many newspapers look ahead to the speech by PM Sir Keir Starmer, who will speak at the conference in Liverpool today.
Elsewhere, there is coverage of the ongoing crisis in the Middle East with many of the front pages featuring images of Israeli airstrikes on Lebanon. Many papers fret the region is on the brink of an all-out war.
Beyond the main stories, there is a light sprinkling of other domestic news, the latest from the Premier League dominates the back pages.
Keir Starmer’s party conference speech today
The Daily Telegraph uses its headline to highlight the prime minister’s positive speech. He will tell the country that there is ‘light at the end of this tunnel.’ The paper says the PM will use his speech to warn he can’t lower taxes yet but can “bring joy” back to people’s lives over the next five years.
The Times focuses on Sir Keir’s plans to give investigators new powers to access information about people’s bank accounts, as part of measures to crack down on benefit fraud.
The Mirror leads with another one of the prime minister’s pledges expected during his speech. The paper says he will today confirm a Hillsborough Law will be introduced to stop state bodies from misleading investigations.
‘Rachel Reeves optimistic note’
The FT is amongst the papers reporting on Chancellor Rachel Reeves’s speech at the conference in Liverpool yesterday, telling readers it struck an “optimistic note.”
The i newspaper reports Reeves is considering a cut to benefits spending in order to free up funding to get people back into work. The paper quotes Liz Kendall telling a conference fringe event that ministers are preparing to pitch “really big reforms” on job centres and welfare.
The Daily Express continues its coverage of the winter fuel debate. The paper reports dozens of retired union members gathered yesterday to oppose the decision to means-test the payments. The paper reports on the booing in the venue when it was announced that a debate on the matter would be delayed.
The Daily Mail says a “chilling threat” from RMT union leader Mick Lynch. It says that during his speech at a fringe event in Liverpool, Lynch said the goal of union chiefs was the “complete organisation of the UK economy.” The unions have been “flexing their muscles” at the Labour conference, with the Royal College of Nursing leaving the chancellor embarrassed when it rejected a pay rise, the paper writes.
Israel strikes dozens more sites in southern Lebanon as thousands flee homes Israeli air strikes on Hezbollah continued overnight as thousands of people fled their homes in southern Lebanon. The
China unveils measures to boost economy China’s central bank has announced a sweeping set of measures aimed at revitalising the country’s slowing economy. The People’s Bank of China (PBOC), led
Indian Prime Minister Narendra Modi has called on leading US tech companies to consider India as a prime destination for manufacturing and innovation. Modi met with top tech CEOs in
Human rights in Russia have “severely deteriorated” says UN Human rights in Russia have taken a significant turn for the worse since the country’s full-scale invasion of Ukraine, according to
US to ban Chinese tech in cars The United States is moving to ban certain Chinese and Russian-made hardware and software from cars, trucks, and buses, citing national security risks.
Police offer $50,000 reward for suspects in Alabama shooting Authorities in Birmingham, Alabama, are offering a $50,000 (£37,400) reward for information leading to the arrest of those responsible for a
The UK economy is suffering from long Covid and a short memory, writes City A.M. editor @ChristianJMay ✍️
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A surge in Chinese steel exports has driven European prices below the cost of production, with the region's steelmakers calling for a new, comprehensive system of tariffs.
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Gold peaks, Bitcoin surge and consumer confidence drops are the highlights from Monday’s market analysis.
A long-running measure of how consumers feel about their finances and the economy has fallen sharply, raising concerns that the government’s warning that the Budget will be “painful” has shaken people’s confidence.
Prices of the safe-haven asset have climbed 27% in 2024, their biggest annual rise since 2010, as investors also sought to hedge uncertainties spurred by the Israel’s invasion Palestine and war with Lebanon.
The Bank of England has kept interest rates on hold at 5%, but a further cut is expected later in the year. The first drop in rates for more than four years came in August, but borrowing costs remain high.
Bitcoin surge reaches a one-month high on Monday, sustaining its rally after the Federal Reserve’s super-sized rate cut last week, while the yen and most other major currencies stagnated with Japanese markets on holiday.
But it still isn’t tracking the growth of gold, that may be for numerous fraud cases and ponzi schemes that have emerged over the last few years and the looming legislation that is coming.
Oil prices gained slightly during early trade on Monday, but Israel’s wars in the middle east may impact supply in the key producing region and the U.S. interest rate cut last week will support demand.
Brent crude futures for November were up 20 cents, or 0.3% at $74.69 a barrel and U.S. crude futures for November were up 22 cents, or 0.3%, at $71.22.
Gold peaks above the $2,600 level on Friday for the first time, extending a rally boosted by bets for further U.S. interest rate cuts, and rising tensions in the Middle East.
Spot gold was up 1.3% at $2,620.63 per ounce by 1:43 p.m. ET (1743 GMT), while U.S. gold futures settled 1.2% higher to $2,646.20.
Interest rates affect the mortgage, credit card and savings rates for millions of people across the UK. With so many household’s surviving on loans and credit cards the anxiety for a interest rate drop is almost over.
The fact that gold is climbing means this will happen sooner rather than later, but a lot will depend on Rachel Reeves speech today in Liverpool. Where she will outline the labour plan, which the market is waiting for. The markets have treated labour plans for economies in the past but there’s a lot more certainty about them now that they are more centrists around the economy.
For those who are investing on the side, the next three months will be a speculative market, there are a lot of factors which could go either way, so ensure you have your triggers and levels in place, adjusted daily, to minimise your losses.
After Amazon announced that it would be time for its employees to return to working from the office full time, the new government is weighing in on the debate of productivity.
Productivity is a problem for the UK, since COVID-19 we have more doctors and nurses, but longer waiting lists, similarly, we have more civil servants but longer immigration processing times and passport application delays.
But alongside productivity there is a very important commercial element to it, office space in premier locations will lose its value, especially in cities and if that happens and companies downsize to by 50% then business rates will also fall.
We have not seen the impact of downsizing office space, because a lot of businesses have long-term leases, but in the next 5 years if the the status quo is the same, expect to see some radical changes.
But the Labour government has different ideas about regulation. They are trying to gaslight us into believing legislation is better for everyone, when in reality that is just not.
Donations a feature of our politics a brasin remark by Rayner, speaking ahead of the opening of the Labour Party conference in Liverpool, said she understood why people were angry, but added donations were “a feature of our politics”.
Labour is in damage control mode, with the Chancellor under pressure to deliver some optimism to take a bit of pressure off Keir Starmer.
What that means is, that Labour politicians are courted in this way to the bidding of Lobby groups and individuals. Just like The Tories rewarded their ‘friends’ with bloated Covid contracts, Labour must also do the same.
She went on to say that more transparency was needed saying “if you get donations, that has to be declared and the rules have to apply to everybody.” sneaking around the more important issue which should be that the public must know what that influence buys.
As it stands senior labour politicians will no longer accept clothing gifts but are open for holiday homes, cars and jewellery or perhaps gifts to their loved ones instead. Should we interpret this as a ‘pay to get your way’?
No one wants to grow up to be Jack Straw, a politician, they only do it after they see the money that can be made. All former cabinet members irrespective of party affiliation, live secure and prosperous life, look at Jack Straw, from a council estate, incidentally, he was at the heart of the post office scandal, accused of the coverup.
Btw Labour are out in force, a PR blitz is needed to change the news cycle, so that’s what they are doing, giving us new headlines, so we can forget the old ones.
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