Tourists in England face nightly levy on hotel and Airbnb-style stays under new plans
Many mayors welcome power to impose tourist tax but industry warns of ‘irreparable harm’ and job losses
Policy & regulation
Ryanair will dispute passenger’s claim he was sucked out of window
Ryanair has said it will be “disputing” that any part of a passenger’s body was sucked outside when a window on one of its aircraft broke while in flight.
OpenAI not on track to reduce risk of ‘catastrophic’ loss of control, says board member
US government adviser Paul Christiano warns of risks to AI industry as he joins OpenAI’s non-profit foundation
Christine Lagarde, Boris Vujčić: Monetary policy statement
Good afternoon, the Vice-President and I welcome you to our press conference. I would like to thank President Nagel for his kind hospitality and express our special gratitude to his staff for the excellent organisation …
Houthis close in on stranglehold over key Bab al-Mandeb Strait - Reuters
A container ship approaches the Bab-el-Mandeb Strait on January 18, 2024 in Obock, Djibouti. Photo: VCG
Monetary policy decisions
The Governing Council today decided to raise the three key ECB interest rates by 25 basis points. The conflict in the Middle East continues to generate inflation pressures, and inflation is set to remain well above targ…
Iceland to become first UK high street retailer to open shop in Falkland Islands
The supermarket chain Iceland has said it will open a shop on the Falkland Islands in early December.
Announcement of the publication of the Governor's interview transcript
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‘Fundamentally unfair’: Burnham must overhaul migration reforms, says TUC general secretary
Andy Burnham must overhaul Shabana Mahmood’s migration reforms or risk overstretching social care and fuelling far-right sentiment, the TUC general secretary, Paul Nowak, has warned.
John Lewis losses widen to £124m as shopper confidence dips
Losses at the owner of John Lewis and Waitrose widened by more than 40% in the first half of the year as it struggled with higher costs and with shoppers feeling less confident about their money.
Iran war could last through end of Trump’s term- WSJ citing advisers
A credible signal that the Iran conflict could extend well beyond the midterms, rather than resolve quickly as Trump has publicly suggested, argues against pricing in a near term de-escalation for oil ($120 Brent risk).…
Chancellor urged to fix £100k childcare ‘cliff edge’ that prompts parents to cut work
John Healey has been urged to fix the £100,000 childcare “cliff edge”, that means some higher-paid employees cut back on work to avoid losing their entitlement.
Bond market rebuffs US treasury’s plan to buy back $6bn in government debt
The US treasury moved to cut the cost of borrowing on Wednesday only to be swiftly rebuffed by the bond market.
Christine Lagarde: The choice facing Europeans
More than two centuries ago, the poet Johann Paul Friedrich Richter described Berlin as “more a part of the world than a city”.[1] History would prove him right.
Flooring firm goes into administration
Birmingham-based Headlam said it had also closed 28 of its 76 trade counters, but that it would continue to trade while a restructuring takes place.
Air traffic control boss given a week to report after UK flight chaos causes 2,000 cancellations
Government remains confident in under-pressure Martin Rolfe but transport secretary believes glitch was avoidable
EU unveils ‘buy European’ public procurement rules to counter China
European authorities will be encouraged to buy more domestic goods and services when they spend public money under the EU latest effort to counter China’s economic might.
Supercar maker McLaren to create 1,000 UK jobs as part of £450m tech investment
The British supercar manufacturer McLaren is to create 1,000 jobs in a welcome boost to the UK’s struggling automotive industry.
Oil prices rise above $100 a barrel for first time since July as Iran war escalates
The price of oil has risen above $100 a barrel for the first time since July as the escalating conflict in the Middle East threatens further disruption to global supplies.
Apple expected to unveil folding iPhone as new CEO takes center stage
All eyes are on Apple’s annual fall announcement of new products this afternoon, where the company is expected to unveil the most significant change to the iPhone since the smartphone’s introduction in 2007.
Burnham urged to tackle inequality with policies including wealth tax
Andy Burnham should tackle inequality in the UK by introducing a wealth tax, universal free personal social care and bringing gas and electricity networks under public ownership, according to a report from more than a d…
‘Miserable and impossible’: food scarce in Kyiv as Russia targets supply chains
Stocking up on cured sausages from the half-empty shelves in her local supermarket, Valentyna Sveshnikova is worried about money. The 68-year-old grandmother lives off her small pension and has already noticed the cost …
UK datacentres will create just 25% of jobs predicted by tech sector, analysis finds
Datacentres in the UK will create just a quarter of the jobs predicted by the tech sector, while consuming vast amounts of energy, according to new research.
US bans Canadian dairy, alcohol and motorcycles as trade war with longtime ally escalates
The measure comes as Canada imposes $20bn in retaliatory tariffs and Canadian prime minister Mark Carney vows to reduce his country’s economic dependence on the US