5 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

13 h. ago I haven't broken the economy, insists Reeves in desperate video plea amid bond market meltdown and fears of tax hike 'doom loop'... as she reveals Budget won't happen until November 26

Rachel Reeves attempted to calm markets by stressing her fiscal rules after interest rates on UK gilts crept up again this morning - having spiked to 27-year highs yesterday.

Economics

15 h. ago Cut spending to fix UK public finances, investors urge Reeves

Tax rises alone will not be enough to meet chancellor’s fiscal rules in Budget, say leading bond market figures

Economics

19 h. ago Cut spending to fix UK public finances, investors urge Rachel Reeves

Tax rises alone will not be enough to meet chancellor’s fiscal rules in Budget, say leading bond market figures

Economics

29 h. ago The Guardian view on Zack Polanski’s rise: he wants to replace Labour, not work with it | Editorial

A mass politics of anti-austerity, identity and climate is emerging from the left’s margins. Keir Starmer cannot afford to ignore itZack Polanski’s landslide election as leader of the Green party marks a turning point for Britain’s fractured left. Young, rhetorically fluent and unafraid to cloak climate arguments in those about class, Mr Polanski is nothing if not ambitious. He sees his party not as a parliamentary pressure group but as a replacement for Labour itself.His ascent might have seemed fanciful last July when Labour had just won a thumping majority. Yet Labour languishes in the polls. Sir Keir Starmer’s personal ratings have collapsed. On the extreme right Reform UK now boasts 237,000 members, 870 councillors, and 10 councils under its control. The Greens have more MPs than ever before. And the uneasy leadership team of Jeremy Corbyn and Zara Sultana is preparing to launch a new party to Labour’s left. This is no longer political noise at the margins. This is about t...

Politics

29 h. ago The Guardian view on the dental divide: ministers must brush up their policy as well as children’s teeth | Editorial

Gaps in access to dentists mirror other health inequalities. And ‘golden hellos’ won’t solve the problem on their ownDisadvantaged primary school pupils at the government’s first wave of new breakfast clubs can expect to be trained in toothbrushing, as well as fed. Data showing that a fifth of all five-year-olds in England have experienced tooth decay persuaded ministers to make improved oral health part of the early years and reception class curriculum. But the prevalence of decay is not evenly spread across the country. And research showing how much worse the situation is for children in deprived areas is in line with other findings about widening health inequalities.New analysis from the Local Government Association highlights the differing availability of dental care across council areas – a situation sometimes described as a dental divide. It found no specific correlation between the numbers of NHS dentists and young children with tooth decay. But it adds to a body of...

Politics

30 h. ago No 10 insists Reeves’s authority not dented by reshuffle after market jitters

Downing Street underscored ministers’ continuing commitment to fiscal rules as government borrowing costs surge

Culture

33 h. ago No 10 insists Reeves’ authority not dented by reshuffle after market jitters

Downing Street underscored ministers’ continuing commitment to fiscal rules as government borrowing costs surge

Culture

33 h. ago Reeves’ authority not dented by reshuffle, No 10 says in bid to calm markets

Downing Street underscored ministers’ continuing commitment to fiscal rules as government borrowing costs surge.

Culture

33 h. ago Kemi Badenoch says Britain MUST get more oil and gas out of the North Sea amid fears 80% of fossil fuels will need to be imported by 2030

Kemi Badenoch vowed to bring 'common sense' to the Net Zero drive as she addressed an industry conference in Aberdeen.

Politics

53 h. ago The Guardian view on Donald Trump and India: the tariff war that boosted China | Editorial

The White House wanted India to bow. Instead, Narendra Modi flew to China, shook Xi Jinping’s hand and left Washington sidelined Donald Trump’s imperial tendencies see the US president wield tariffs and sanctions in the expectation that America will receive tributes. Yet his latest move – punishing India with 50% tariffs for Russian oil purchases once encouraged by the US – has produced not submission but spectacle. It has sent India’s Narendra Modi to China for the first time in seven years as Xi Jinping hosted more than 20 leaders for the Shanghai Cooperation Organisation (SCO) summit in Tianjin. And it is in Tianjin, not Washington, where it looks as if the hinge of history is moving.The SCO is easy to dismiss: the bloc is a bundle of contradictions. India and Pakistan remain adversaries. China and India still stare across a garrisoned Himalayan frontier, though relations have thawed since last October’s border breakthrough. Russia and China vie for influence in Central Asia. Unl...

Politics

3 d. ago The Guardian view on the killing of Gaza’s journalists: Israel wants to stop the world from seeing what it’s doing | Editorial

This is the most lethal war for the media in recent times. A generation of journalists is being wiped outDay by day, the death toll rises, the war crimes mount, and the outrage grows. Last Wednesday, the pope demanded that Israel stop its “collective punishment” of Gaza’s population. A day later, António Guterres, the United Nations secretary general, warned that “the levels of death and destruction are without parallel in recent times”. More than 500 UN staff have pressed the human rights chief, Volker Türk, to call it genocide. Half of registered voters in the US have already concluded that that is what Israel is doing in Gaza.The agony is deepening. On Friday, the Israeli military declared famine-hit Gaza City to be a combat zone, intensifying its assault and ending “tactical pauses” that allowed limited – if utterly inadequate – food delivery. Many inhabitants are physically incapable of fleeing again, and fear that they would be no s...

Events

3 d. ago The Guardian view on GCSE resits: admitting the problem is just the first step | Editorial

The low pass rate in compulsory retakes is one of many challenges in 16-19 educationFor years, rigid rules and a shocking failure rate in compulsory GCSE retakes have been one of the exam system’s dirty secrets. At last this dire situation is getting some of the attention it deserves. This year, nearly a quarter of all maths and English language entries in England, Wales and Northern Ireland were for students aged 17 or older on a repeat attempt – with just one in six of those retaking maths managing to pass.By calling this a crisis, Jill Duffy, who heads the OCR exam board, has thrown a spotlight on the problem. But admitting that there is an issue with resits, as officials are now doing, is only the first step. There are differing views about what ought to happen next. Continue reading...

Politics

4 d. ago Fears that Britain could be forced to pay for French 'maritime intervention force' to intercept small boats and escort them away from England 

The radical plan would see fast patrol craft surrounding the dinghies packed with passengers, who would then be 'guided back to French ports, in the safest manner possible'.

Politics

4 d. ago REAL BRITAIN: 'I used to help asylum seekers, now I live in fear of being deported'

Edel Anabwani came to the UK to study for her PhD - but after a paperwork error, she lost her job and now relies on the kindness of neighbours to feed her

Events

5 d. ago Britain's sizzling summer sparks cider shortage fear for boozers

Drink producer Thatchers says it has started the earliest ever harvest due to hot weather but apples are only ‘two-thirds’ their normal size

Politics

5 d. ago The Guardian view on Trump and the Fed: independence is no substitute for accountability | Editorial

The US president’s move against Lisa Cook shows his despotic bent, but the Fed was never democracy’s guardian. It’s time to rethink who really controls moneyDonald Trump’s attempt to sack the Federal Reserve governor, Lisa Cook, is the familiar authoritarian trick of bending institutions to serve the leader’s immediate ends. The widespread condemnation is deserved. This is not some daring experiment in popular control of monetary policy. Yet what should follow censure is reflection. For the furore over Ms Cook has revealed a peculiar reflex: to defend the Fed’s independence as though it were synonymous with democracy itself.But is independence of the Fed, or central banks generally, really that? Eric Levitz at Vox thinks so, or at least that it is close enough. He argues that Congress sets the Fed’s objectives; independence applies only to the means. Without independence, politicians would be free to game rates for votes – as Richard Nixon did in 1972, leaning on the ...

Politics

5 d. ago The Guardian view on Christopher Marlowe: it’s time to read him and honour him | Editorial

England’s second most famous playwright is the star of a new play. But his own works should be staged more, and he should be commemorated betterFor a limited season this autumn, Christopher Marlowe will become a star of the London stage again. Enjoy it while you can, for Marlowe has become an ephemeral figure in Britain’s national culture. His plays, once staples, are now produced only intermittently, if at all. Today, Marlowe is probably better known for his dramatic death, stabbed in a London riverside tavern, than for anything he wrote or for being the literary pioneer that he was.From next week, however, the sexy and brilliant figure of Kit Marlowe will be the centrepiece character, played by Ncuti Gatwa, in Liz Duffy Adams’s two-hander, Born With Teeth, which is currently in previews in the West End, with its offical opening next week. The play teases with the possibility, first reported in this newspaper in 2016, that Marlowe and William Shakespeare, played by Edward...

Politics

5 d. ago Britain’s canalboat nomads fear new rules will sink their way of life

Britain’s canalboat nomads fear new rules will sink their way of life  The Washington Post

Politics

6 d. ago The Guardian view on Russia’s strike on Kyiv: Putin is testing Trump’s will and Europe’s resolve | Editorial

The Kremlin sent a clear message with its lethal overnight raid on the Ukrainian capital. Will the US heed it?Wednesday night brought a grim return to Russia’s form: one of the heaviest air raids on Kyiv since the full-scale invasion began. Moscow eased off its strikes on major cities in the run-up to the Alaska summit, and it held off its attack on the Ukrainian capital until Keith Kellogg, the US special envoy, had finished his visit there. But within hours of his departure, at least 18 people, including several children, were dead in an attack on a residential block, and the European Union mission had been severely damaged.Donald Trump periodically suggests that he is drawing a line for Vladimir Putin. Yet each time he appears to set a limit, the Russian president breezes through it. The Kyiv attack shows that it is Mr Putin who is testing the US president. Mr Trump threatened “severe consequences” if Moscow did not immediately agree to a ceasefire – but in Anchora...

Politics