6:46 am, October 10, 2022
Truss appoints Sunak ally to Cabinet in bid to restore Tory unity
Liz Truss has sent a signal of her intent to bridge the divides blighting the Tory party as she prepares to make a plea for unity to colleagues filing back into Westminster.
The prime minister handed a government job to Greg Hands, who backed her rival Rishi Sunak in the Conservative leadership race, in a move that will be widely seen as a peace offering to critics who have accused Ms Truss of surrounding herself with allies.
The seasoned minister replaces Conor Burns, who was sacked from his post in the Department for International Trade (DIT) on Friday following a misconduct complaint.
Chancellor urged to ‘act now’ to ‘defuse mortgage ticking time bomb’
The chancellor is being urged to ‘act now’ as new analysis suggests more than 3,000 households are facing ‘staggering hikes’ in their mortgage payments every day.
The Liberal Democrats are warning of a ‘mortgage ticking time bomb’, as the party predicts that between now and the expected release of Kwasi Kwarteng’s medium-term fiscal plan on November 23, roughly 168,000 more homeowners will have been hit by a new higher rate. This is based on figures attributed to UK Finance showing 600,000 fixed-rate mortgage deals are coming to an end in the second half of 2022, equivalent to an average of 3,296 a day.
Meanwhile, rates are continuing to climb, pushing up costs for borrowers – with the average two-year fixed-rate deal topping six per cent for the first time in 14 years last week.
Attack on bridge to Crimea a terrorist act, Vladimir Putin says
Russian president Vladimir Putin has called the attack on the sprawling Kerch Bridge to Crimea ‘a terrorist act’ carried out by Ukrainian special services.
A criminal terror investigation into the explosion that damaged a prominent Russian landmark has been launched by the country’s investigative committee. What Russian authorities are calling a truck bomb on Saturday hit the huge bridge linking Russia with the Crimean Peninsula, which Moscow annexed eight years ago from Ukraine.
Road and rail traffic on the bridge were temporarily halted, damaging an important supply route for the Kremlin’s forces and dealing a sharp blow to Russian prestige.
Vigils take place in Donegal in memory of Creeslough explosion victims
Hundreds of people have gathered at vigils in memory of the 10 people who died in a devastating explosion in an Irish village.
A five-year-old girl and her father were among those killed in Friday’s blast in Creeslough, Co Donegal, at a complex that includes residential apartments and a petrol station. The huge explosion claimed the lives of 10 local people who were named by police on Sunday.
Ireland’s police force, An Garda Siochana, continue to investigate the cause though at this stage it is being treated as a “tragic accident”.
North Korea confirms nuclear missile launches are tests to ‘wipe out’ enemies
North Korea says its recent barrage of missile launches were tests of its tactical nuclear weapons’ capacity to ‘hit and wipe out’ potential South Korean and US targets.
Leader Kim Jong Un signalled he would conduct more provocative tests in coming weeks.
The North’s statement, released on the 77th birthday of its ruling Workers’ Party, is seen as an attempt to buttress a public unity behind Kim as he faces pandemic-related economic hardships, a security threat posed by the boosted US-South Korean military alliance and other difficulties.
Independence will create partnership of equals in UK, Sturgeon to say
Scottish independence will create a partnership of equals in the UK, Nicola Sturgeon is expected to tell delegates at the SNP conference in Aberdeen.
Sturgeon will close the party’s conference by telling delegates that the nations of the UK and the Republic of Ireland, will ‘always be the closest of friends, always be family”’.
Speaking to journalists on Sunday, the first minister was asked about any announcements she would make in her speech. She said she will have ‘more to say’ on the cost-of-living crisis ‘and a host of other things as well’. She also rejected claims there was a lack of policy commitments during the conference.
Businesses pessimistic about government support as output shrinks
Inflation concerns and fears of surging energy prices are taking a heavy toll on businesses despite the government’s pledges to cover a proportion of costs, new research has shown.
For half of small businesses, fuel and energy costs remain their biggest concern according to a survey from business financial platform Tide, conducted at the end of September. Businesses, charities and public sector organisations will be protected over the next six months with the government’s business relief package which provides companies with a discount on their bills.
It is expected to cost around £29bn over the period and will be followed by more targeted support afterwards.
But many businesses remain hesitant about whether they will benefit from the government’s policy measures amid widely reported turbulence in the financial markets.
Weekend Car Dealer headlines you might have missed
- Profit falls at used car dealer Big Motoring World as it hunts for more acquisitions
- Car dealer group Endeavour Automotive buys out family-run Turners Hyundai in East Anglia
- Auto Trader branded ‘expensive’ but ‘valuable’ by car dealers in anonymous survey by stock broker
- Family-owned car dealer Masters of Beckenham sees profit slump
- Online retailer Vansdirect appoints Samantha Ward as new managing director
Max Verstappen claims second drivers’ championship amid chaotic scenes in Japan
Max Verstappen claimed his second Formula One drivers’ championship in confusing and dramatic fashion at Sunday’s Japanese Grand Prix as Red Bull prepare for news of whether they breached the sport’s budget cap last season.
As rain lashed Suzuka, a delay of over two hours followed an early red flag as drivers and team principals fumed after a recovery vehicle was dispatched onto the circuit and was involved in a near-miss with the AlphaTauri of Pierre Gasly. When the action resumed, confusion reigned as to whether full points would be awarded in a race where the time limit would expire before the lap count.
That meant, even when Ferrari’s Charles Leclerc was handed a five-second time penalty for gaining an advantage on the final lap to promote the sister Red Bull of Sergio Perez into second place behind Verstappen, it was unclear whether the Dutchman had retained his title. Only when being interviewed post-race was Verstappen’s dominant 2022 championship win confirmed.
Scottish airline Loganair put up for sale
The UK’s largest regional airline Loganair has been put up for sale.
Scottish brothers Stephen and Peter Bond, who have owned the business for the last 25 years, are looking for new owners for the Glasgow-based airline.
The company flies 44 aircraft to more than 40 destinations across Europe and the British Isles, according to its website. Company figures show it flies up to 1,000 flights a week and employs more than 900 people.
Weather outlook
A cloudy and rainy start for the south of England which will clear later on leaving a dry and sunny day for most, reports BBC Weather. The north-west will see blustery showers blow in at times.
Variable cloud with showers for the north and west tonight, which will also drift into Scotland. Clear in the south of the UK.
