Starmer Crisis Shows UK Still Lives at Mercy of the Bond Market
Starmer's ruling Labour Party started the day on a face-saving mission after its Members of Parliament forced it to scrap £5 billion ($6.8 billion) worth of cuts to welfare spending on Tuesday evening — making it even harder for Chancellor of the Exchequer Rachel Reeves to tame the government's budget deficit.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
38 minutes ago
- Yahoo
Reform MP suspends himself from party over allegations around his business affairs
Reform MP James McMurdock has suspended himself from the party. In a statement, chief whip Lee Anderson said it is over allegations around his business affairs published in a national newspaper. The statement said at around 1pm: "I have today received a call from James McMurdock who has advised me, as Chief Whip, that he has removed the party whip from himself pending the outcome of an investigation into allegations that are likely to be published by a national newspaper. "The allegations relate to business propriety during the pandemic and before he became an MP. "At Reform UK we take these matters very seriously and James has agreed to cooperate in full with any investigation. "We will not be commenting further at this moment." Mr McMurdock joined Reform UK in 2024 after having worked in the banking sector. In last year's general election, he was elected as the MP for South Basildon and East Thurrock. He beat Labour into second place, winning by 98 votes, taking the seat from the Conservatives. It marks the latest incident of a Reform MP having the party whip removed - Rupert Lowe was suspended in March over alleged threats of physical violence towards the party's then chairman Zia Yusuf. The allegations were then referred to the Metropolitan Police, who later said Mr Lowe would not be charged. The MP for Great Yarmouth has always denied wrongdoing and claimed he was the victim of a witch hunt after speaking out against party leader Nigel Farage in the media. This breaking news story is being updated and more details will be published shortly. Please refresh the page for the fullest version. You can receive breaking news alerts on a smartphone or tablet via the Sky News app. You can also follow us on WhatsApp and subscribe to our YouTube channel to keep up with the latest news.
Yahoo
42 minutes ago
- Yahoo
MP resigns Reform UK whip amid ‘business propriety' investigation
MP James McMurdock has resigned the Reform UK whip from himself amid questions over 'business propriety during the pandemic'. The party's chief whip said on Saturday that Mr McMurdock had 'removed the party whip' from himself pending the outcome of an investigation. The Sunday Times published a story on Saturday which alleged two businesses connected to Mr McMurdock took out Covid loans totalling £70,000. A statement from Lee Anderson, Chief Whip Reform UK. — Reform UK (@reformparty_uk) July 5, 2025 Lee Anderson said in a statement on Saturday that the allegations against Mr McMurdock which led to him removing the whip 'relate to business propriety during the pandemic and before he became an MP'. Mr Anderson said that Mr McMurdock has 'agreed to co-operate in full with any investigation'. In a statement published on Reform's X account on Saturday afternoon, Mr Anderson said: 'I have today received a call from James McMurdock who has advised me, as Chief Whip, that he has removed the party whip from himself pending the outcome of an investigation into allegations that are likely to be published by a national newspaper. 'The allegations relate to business propriety during the pandemic and before he became an MP,' Mr Anderson said. Mr McMurdock has represented South Basildon and East Thurrock since last July's general election. He won the seat by 98 votes, beating Labour into second place, and taking the seat from the Conservatives.
Yahoo
43 minutes ago
- Yahoo
Coca-Cola HBC price target raised to 4,000 GBp from 3,800 GBp at Citi
Citi raised the firm's price target on Coca-Cola HBC (CCHGY) to 4,000 GBp from 3,800 GBp and keeps a Neutral rating on the shares. The firm expects management to raise FY25 organic EBIT growth guidance to 9%-13% with the first half results and sees 'no obvious negatives,' but sees greater upside in Carlsberg (CABGY) for now, the analyst tells investors in a preview. Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on CABGY: Disclaimer & DisclosureReport an Issue Carlsberg price target raised to DKK 955 from DKK 945 at Morgan Stanley Carlsberg downgraded to Hold from Buy at HSBC
