2 h. ago The Guardian view on fiscal rules and financial myths: Britain must stop fearing imaginary bond vigilantes | Editorial

Liz Truss fell not for borrowing, but for incompetence. Rachel Reeves mustn’t repeat the mistake with rules markets don’t demandIn 1995, Nick Leeson, a 28-year-old trader for Barings Bank, brought down the City’s oldest finance house by, among other things, betting that the Bank of Japan (BoJ) couldn’t keep rates low forever after its financial crash led to a borrowing spree. The devastating Kobe earthquake was the final blow. The BoJ cut rates, bond prices rose and his losses spiralled to $1.4bn. His bet that markets would beat Japan brought down the bank.Barings’ collapse is perhaps a spectacular example of the “widowmaker” trade, where speculators think they can outsmart Japanese authorities. They’ve ended up with egg on their face as their gamble on Japan losing fiscal control proved misguided. Japan, with its own currency and a central bank working with the government, shows how the state shapes markets, not the other way round.Do you have an opinion on the issue...

Politics

3 h. ago 'Vital' community facility could be rebuilt following devastating fire

A plan is being drawn up

Events

4 h. ago Drake calls WWE star Rhea Ripley his ‘muse’ but admits he’s probably ‘the opposite of everything she likes’

Drake made an appearance at the WWE Elimination Chamber in March

Politics

5 h. ago Woman buys £5 mystery bag at car boot sale and is mortified when mum opens it

WARNING: EXPLICIT CONTENT: Bargain hunter Becky Chorlton admitted she felt like an 'idiot' after allowing her mum to open the bag, knowing it would likely contain some rather raunchy items

Economics

6 h. ago 'I saw Queen Camilla getting tearful before she made a devastating admission to me'

Queen Camilla was the Duchess of Cornwall when she visited a women's refuge in Reading to meet the residents living in the building, and one journalist has spoken about the royal's emotional remark

Politics

6 h. ago Alien ship 'coming to Earth to test our intelligence' should be intercepted says scientist

A mysterious object is hurtling towards Earth with scientists debating on the origins of the UFO – but there could be a chance for us to intercept it as it travels through the universe

Politics

6 h. ago Greta Thunberg's Gaza fleet of ships 'is pursued by drones', sparking panic on board after previous flotilla was 'attacked'

Greta Thunberg's aid flotilla headed for Gaza was targeted by drones as the Swedish activist attempts to break Israel's blockade of the Palestinian territory by sea. 

Events

7 h. ago Clyde shipbuilding row as Keir Starmer accuses John Swinnney of blanking £10bn deal for new warships

A Scottish Government source described the Prime Minister's comments regarding the £10bn shipbuilding contract as "total b*llshit".

Economics

7 h. ago New avocado rule introduced at Tesco after 15million more sold this year

Tesco is trialling in-store avocado scanners that allow shoppers to assess the ripeness of the fruit before purchase

Politics

8 h. ago Conservative appeals court rips Trump for describing migrants as an invasion to justify mass deportations

Circuit court judges rule ‘no invasion or predatory incursion’ made by Tren de Aragua criminals to justify invocation of 18th century wartime law

Events

8 h. ago Pat Cummins ready to ‘take a few risks’ with rehab to be fit for first Ashes Test

Australia captain to miss white-ball series against IndiaStarc retires from T20Is as squad named for New ZealandPat Cummins is prepared to “take a few risks” and be “aggressive” in his recovery from a back injury to lead Australia in this winter’s Ashes series.Australia’s captain will be absent for their forthcoming white-ball series against New Zealand and India because of lumbar bone stress, a common injury among fast bowlers with intense workloads. Cummins remains upbeat about being able to take to the field in the first Test against England, starting on 21 November in Perth, and he says he will do everything in his remit to avoid missing out. “That would be devastating [to be sidelined for the series opener], so we’ll be doing everything we can to try to be right for that,” Cummins said in Brisbane on Wednesday. “It’s a big Ashes series. It doesn’t get much bigger, so I think you’re willing to take a few risks and be a little bit aggressive to try and play as many Tests as you c...

Events

8 h. ago Man left feeling 'ripped off' after trying to pawn 100 DVDs in high street store

A TikTok user have been left shocked by the amount he was offered for 100 DVDs at high street pawn shops.

Politics

8 h. ago Mother caught on hospital CCTV subjecting toddler son to unimaginable act

Mum Alexandra Marie Frost will now serve 10 years behind bars after devastating CCTV footage confirmed hospital staff's worst suspicions about the treatment of her two-year-old son

Events

9 h. ago Major supermarket trials new scanners that test ripeness of fruit

Shoppers will have the chance to test the ripeness of some fruit before they purchase

Politics

9 h. ago Great British Bake Off star gasps as masterpiece bake that's a 'show first' broken by Paul Hollywood

Great British Bake Off has released a teaser for what's to come in next week's episode as judge Paul Hollywood leaves one contestant devastated

Culture

9 h. ago 'Devastated' Martin Lewis fights back tears on This Morning as elderly guest reveals how they were scammed out of entire life savings due to fake video of him

The MoneySavingExpert founder was visibly shaken as 77-year-old Gill Casey told her story live on air to hosts Ben Shephard and Cat Deeley.

Politics

10 h. ago Locals say 'it's like a cruise ship built next to our homes – we feel sick about it'

Residents in Tyldesley, Greater Manchester, have been left furious by the development they compare to a cruise ship because it's so big. The massive steel constructions are mere metres from their houses

Politics

10 h. ago Tesco shoppers warned 'do not eat' as popular meal poses 'possible health risk'

The popular meal contains ingredients not mentioned on the label.

Events

10 h. ago Starmer's new economics advisor said Labour should rip up election promises and raise income tax and VAT to boost growth

Baroness Minouche Shafik, who was appointed to No10 on Monday, used an interview earlier this year to suggest upping income tax and VAT to boost Treasury coffers.

Economics

11 h. ago Major supermarket unveils tech to help perfect your avocado on toast

The One Third Avocado Scanner can measure the ripeness of an avocado in seconds

Politics