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Storm Éowyn will bring dangerous winds to Northern Ireland and parts of Scotland throughout today with heavy rain at times. After a wet and windy start further south, winds easing and becoming largely dry. Tonight: Destructive winds continuing in Northern Ireland and Scotland, especially in the far north, along with heavy downpours. Generally drier in the south. A colder night with frost in places.

Thursday’s news briefing

Prince Harry has settled his case with the owner of the Sun newspaper – News Group Newspapers (NGM). Harry reportedly received a £10+ million payout as well as an apology. The Murdoch-owned tabloid admitted it engaged in illegal practices to source stories about him. 

The Southport killer is set to be sentenced today after pleading guilty to three counts of murder and terrorism charges – including making ricin. The 18-year-old is expected to receive a life sentence. An inquiry into the case began after it was revealed authorities already knew about Axel Rudakubana and he had been referred (but denied) to the government’s Prevent scheme – aimed at stopping people from becoming terrorists or supporting terrorism. 

Leo Ross, 12, was stabbed to death on his way home from school in Birmingham yesterday. The country reacts to the news – amid fears of a growing knife crime crisis. A 14-year-old boy has been arrested. 

Storm Éowyn is heading towards the UK with rare weather warnings being issued for Northern Ireland and parts of Scotland on Friday.

January 23, 2025 10:25 am

Bank of England: Goldman Sachs expects deep interest rate cuts

Markets are significantly underestimating the chance that the Bank of England will have to step up the pace of cutting interest rates, Goldman Sachs has argued.

Traders anticipate just two interest rate cuts this year with one more cut priced in for 2026, which would leave the benchmark Bank Rate at 4.0 per cent. It currently stands at 4.75 per cent.

Investors are concerned by signs of stubborn inflationary pressures in the UK economy, with many economists predicting that the headline rate will increase to over three per cent in the spring.

Figures out yesterday also showed that private sector pay growth hit 6.0 per cent in the three months to November, well ahead of expectations.

Bank of England: Goldman Sachs expects deep interest rate cuts

Thursday’s headlines make for interesting reading. Only four national newspapers lead with the publisher of The Sun, News Group Newspapers (NGM), apology and payout to Prince Harry. It’s little surprise The Sun newspaper itself doesn’t acknowledge the news until page six.

Harry’s lawsuit against NGN is a huge victory with the Murdoch-owned tabloid admitting it engaged in illegal practices to source stories about him. 

Of the four newspapers that lead with the story, The Guardian, The i and The Independent note the historical nature of the win, which saw NGN do something they rarely do – apologise. The Daily Telegraph unsurprisingly has a different take. The paper calls it a ‘climb down’ from Harry and lightly suggests he was seeking a bigger payout than what his brother received, questioning why he had all of a sudden struck a deal rather than complete his quest of holding the tabloids to account. 

Away from Harry, there is a mixture of mostly domestic news including reports the Royal Navy spotted a Russian “spy ship” in UK waters, various reports of illegal immigrants, ISIS and “fears” over UK security. Several papers also report on the UK economy. 

A 12-year-old boy is pictured on many front pages after he was stabbed to death on his way home from school. A 14-year-old boy has been arrested. 

The back pages lead with last night’s Champions League matches – and how the English clubs fared. Man City threw away a 2-0 lead to lose 4-2 to PSG. Arsenal won their match, all but securing a place in the knockouts. 

‘Murdoch-owned The Sun apologies to Harry’

the guardian logo

‘Historic admission of illegal practises used to get stories about Harry,’ says The Guardian.

The Guardian calls the result a “monumental victory” with a “historic admission” noting the Sun newspaper admitted to engaging in “illegal practices” to source stories about him. They offered him a “full and unequivocal apology” after “incidents of unlawful activity” were carried out by private investigators working for the paper.

the times logo

‘Nandy working to draw up changes to media rules in wake of lawsuit,’ says the i.

The i newspaper says “Gotcha” focusing on the reported £10 million settlement. The paper says Culture Secretary Lisa Nandy is working with families affected by the phone-hacking scandal to draw up potential changes to media rules in the wake of the lawsuit.

telegraph logo

‘Harry climbed down despite saying he wanted accountability from the press,’ is the Telegraph’s take.

The Daily Telegraph says Harry ‘climbed down at the eleventh hour’ after claiming he wanted to change the British tabloids and bring accountability for their wrongdoing. The paper highlights that whilst the Sun did apologise and payout, it did not admit phone hacking or any specific wrongdoings. The article suggests Harry held out for as long as possible for money.

The Independent logo Get the latest news from the Independent free on WTX News

‘Harry wins £10m,’ says The Independent.

The Independent says “Harry wins historic £10m+ apology deal from Murdoch’s Sun”.

The sun logo

‘UK in wave of knife crime,’ according to The Sun’s front page.

The Sun’s front page leads with the stabbing death of Leo Ross in Birmingham. The paper claims the UK is battling a “horrifying wave of knife crime.”

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‘Leo latest victim of epidemic plaguing Britain,’ says the Mirror.

The Daily Mirror shares a similar take. The paper says Leo is “the latest tragic victim of the knife crime epidemic plaguing Britain”.

the times logo

‘Navy sent polite message to Russian spy ship,’ says The Times.

The Times says a suspected Russian spy ship was challenged by a Royal Navy submarine in British waters. A defence source tells the paper the Royal Navy sent a “polite” message to the vessel that included the words “good morning.” The Russian ship left quickly after the encounter, the source added.

daily mail logo

‘Navy sub surfaced yards away from vessel in show of force to protect British waters,’ says the Mail.

The Daily Mail says the Royal Navy has been deployed to “protect undersea cables off Cornwall” in the wake of the Russian ship’s movements. It also reports that the Royal Navy sub surfaced “yards away” from the vessel “in a show of force to protect British waters.”

The metro Newspaper HD logo

‘Healey tells Vlad – We can see you, we know what you’re doing,’ – the Metro highlights.

The Metro headlines it as “We can sea you, Vlad!”. Defence Secretary John Healey said the vessel was deployed to map the UK’s critical underwater infrastructure. Healey’s message to Vladimir Putin: “We see you, we know what you’re doing and we will not shy away from robust action to protect this country,” the paper added.

Last night’s Champions League action domiantes much of social media in the UK today as well as the latest Premier League transfers.
 
The public reacts to Prince Harry’s win over the Sun newspaper as well as the incoming storm Eowyn – set to hit Ireland before moving on to Britain.
 
The setencing of the Southport killer also trends this morning as the publci awaits the sentencing verdict. 

Bank of Japan raises interest rates to 17-year high

The Bank of Japan (BOJ) has raised its short-term policy rate to “around 0.5%,” marking its highest level in 17 years. This decision follows December’s inflation surge, with core consumer

WTX Business Team

Micheál Martin elected Taoiseach after chaos 

Fianna Fáil leader Micheál Martin has been elected taoiseach (prime minister) of Ireland for the second time, following intense debates in the Dáil (Ireland’s lower house of Parliament). The Dáil

EU News

UK leaves the door open on joining Europe customs scheme

FT.com Tweet

Consumer confidence in the health of the UK economy slumped in January, pointing to further headwinds in the coming months.

CITY AM Tweet
January 23, 2025 10:23 am

UK economy: Consumers catch ‘January blues’ as confidence slumps

Consumer confidence in the health of the UK economy slumped in January, pointing to further headwinds in the coming months.

A net -34 of respondents to the British Retail Consortium’s (BRC) latest sentiment monitor said that the economy would get worse over the next three months, down from -27 in December.

This put confidence in the health of the economy at its lowest level since the BRC started collecting data on the topic in March 2024.

The survey comes after a succession of disappointing data releases, which indicate that the economy slowed significantly in the second half of last year.

https://www.cityam.com/uk-economy-consumers-catch-january-blues-as-confidence-slumps/

January 23, 2025 10:21 am

Rachel Reeves’ tax hikes pose ‘major threat’ to UK labour market resilience

The government’s tax hikes pose a “major threat” to the health of the labour market, a leading economist has warned, as markets prepare for the latest jobs market figures.

The labour market has been a key source of strength for the UK economy, with continued high employment helping to sustain strong levels of wage growth over the past couple of years.

Many forecasts for 2025 assume that the continued resilience of the labour market will ensure that economic growth accelerates compared to last year.

But economists are worried that measures announced in the government’s maiden Budget will threaten the health of the labour market.

https://www.cityam.com/rachel-reeves-tax-hikes-pose-major-threat-to-uk-labour-market-resilience/

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Very sad to hear that Wendy Williams has been diagnosed with Frontotemporal dementia, the same condition Bruce Willis suffers from. Appeared on her show many times over the years and she’s a fabulous character & superb broadcaster. Wish her and her family all the best.
Tom
Palestinians are human beings who deserve to live in freedom and joy. That is why hundreds of thousands of us have exercised our right to protest. We will be here as long as it takes until there is an immediate ceasefire, an end to the occupation, and a just & lasting peace.
Jeremy IT Consultant
Keir Starmer and his allies, clutching a can of petrol in one hand and a box of matches in the other, tutting loudly at the flames. Starmer has no effin clue
MoSocialist
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