Bank of England left with no action but to intervene after Kwasi Kwarteng’s mini-budget The Bank of England has been forced into emergency action to halt a run on Britain’s pension funds after the impact of Kwasi Kwarteng’s ill-received mini budget prompted fears of a 2008-style financial crisis. Threadneedle Street […]
Year: 2022
MPs express disbelief over sterling slump as privately some fear PM’s government is ‘dead on arrival’ Liz Truss is facing growing pressure from jittery Conservative MPs to sack Kwasi Kwarteng or face a mutiny after the Bank of England’s emergency intervention to address the turmoil in the financial markets. The […]
Opposition leaders urge PM and chancellor to take action over economic fallout and recall parliament Politics live – latest updates Downing Street is resisting pressure to recall parliament, with Liz Truss and Kwasi Kwarteng being accused of going into hiding as the markets spiral in response to last week’s mini-budget. […]
We rate PM’s likely next steps as she sets about navigating path through crisis of her government’s making Battered by financial markets and besieged by MPs whose constituents’ mortgage payments are set to rocket, Liz Truss must now navigate a serious economic crisis of her government’s own making. Does she […]
Pleas for rescue emerge online as storm surge hits coast and millions lose power Report: Hurricane Ian sweeps ashore as Florida hit with ‘catastrophic’ wind and rain The National Oceanic and Atmospheric Administration has laid out the predicted path of Hurricane Ian as it is expected to hit land this […]
Opposition leader says Tories have ‘lost control’ and Labour is now the party of ‘sound money’ Keir Starmer pledged to establish a publicly owned energy company in his first year in office as he reflected Labour’s growing hope that the party is on the path back to power. In a […]
Ursula Von der Leyen warns of ‘strongest possible response’ to attacks on European energy infrastructure Sabotage is the most likely cause of leaks in two Baltic Sea gas pipelines between Russia and Europe, European leaders have said, after seismologists reported explosions around the Nord Stream pipelines. A seismograph on the […]
International Monetary Fund says measures should target households worst affected by energy crisis and inflation The International Monetary Fund has launched a stinging attack on the UK’s tax-cutting plans and called on Liz Truss’s government to reconsider them to prevent stoking inequality. In rare public criticism of a leading global […]
Communication Workers Union say industrial action will cover Black Friday and the Christmas buildup Royal Mail workers are to hold a further 19 strikes in October and November in a deteriorating and long-running dispute over pay and conditions. The Communication Workers Union (CWU) announced that the industrial action in the […]
Rail boss says St Pancras has only avoided chaos seen at Channel ports because of services being cut Post-Brexit border checks have slowed the speed at which Eurostar passengers pass through London St Pancras on their way to Paris, reducing the terminal’s capacity by one-third, according to the cross-Channel rail […]