White House seeks to tackle food insecurity at first hunger conference since 1969

CNN  —  Groceries cost 13.5% more than they did a year ago. Nearly 25 million adults live in households where there isn’t always enough to eat. Some 40% of food banks saw increased demand this summer. At a time when the affordability of food is in the spotlight, the Biden administration is hosting a White … Read more

The Iron Lady had strategy – Kwarteng, stupidity

Tim Congdon, the noted economist who worked with Thatcher and sat on the Treasury panel of “wise men” that advised the Conservative government on economic policy between 1993 and 1997, believes the not-so-mini-Budget was “the exact opposite” of the 1981 Budget “in both content and form”. He argues that borrowing in order to cut taxes, … Read more

Russia forced to use its own accident-prone jet technology as sanctions hit airlines

Russia is attempting to revive its accident-prone Cold War-era aviation industry after being pummelled by Western sanctions. State engineer Rostec said it would make 1,000 airliners by 2030 in an effort to end Russia’s reliance on Boeing and Airbus planes. Western sanctions means parts from these companies can no longer be supplied to Russia after … Read more

Banks urge Kwarteng to take action now with November Budget ‘way too far away’

Good morning. The pound has sunk back into the red after two major interventions last night reignited investor concerns about the UK’s tax-cutting Budget. In an extraordinary development, the IMF urged Prime Minister Liz Truss to reverse her economic policies – pointing particularly to the decision to scrap the higher rate of income tax. Ratings … Read more

Britain should have a nuclear reactor fleet to rival France

In short, we stopped owning our energy security and started renting it. UK cannot have energy security without nuclear Sizewell B is a miniature of what we could have had if we had kept ownership of our energy supply. It is Britain’s single largest, most reliable, and cheapest sovereign clean power generator, and it will … Read more

What is the healthiest bread?

Sign up for CNN’s Eat, But Better: Mediterranean Style. Our eight-part guide shows you a delicious expert-backed eating lifestyle that will boost your health for life. CNN  —  One of the foods many people hate to love is bread. It tastes so good, but we often get messages that, nutritionally, it’s so bad. There are … Read more

Bank of England preparing emergency intervention after pound slumps to all-time low

Chancellor Kwasi Kwarteng must do more to reassure markets about his plans for the economy after the pound’s slump, a top adviser to Liz Truss has said. Gerard Lyons, an external adviser to the Prime Minister, told Bloomberg: “He needs to reaffirm that tax cuts are only part of the story, not the full story. … Read more

Scottish fund managers and US bankers to flock to London as Kwarteng fires up the City

Meanwhile the tax disparity has sparked consternation in Scotland about the effect on Edinburgh, the major financial centre north of the border. Benny Higgins, a Scottish banker and former business adviser to Nicola Sturgeon, said: “A 1p gap may be seen by me and my peers as tolerable and understandable, but a 6p gap would … Read more

Britain runs low on ammo as Ukraine bombards Kremlin forces

As she prepared to address the United Nations, Liz Truss last week committed the UK to spending at least £2.3bn next year on military aid to help Ukraine repel Kremlin forces. The promise came as Vladimir Putin sought to mobilise 300,000 reservists in hope sheer numbers can overcome the combination of Ukrainian determination and Western … Read more

Why the stamp duty cut won’t stop a catastrophic house price crash

Andrew Wishart, of the analysis firm Capital Economics, says: “The market reaction to the announcement suggests that mortgage rates of over 6pc are now a distinct possibility, which would leave house prices more overvalued than in 2007.” The stamp duty saving will help to boost buyers’ deposits because it must be paid upfront, Wishart says. … Read more