Bank of England lends record 74 billion pounds in weekly repo
The central bank uses its short-term repo operations as a way to provide banks with reserves as it sells down its stockpile of government bonds bought under its quantitative easing programme.
($1 = 0.7325 pounds)
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The Sun
31 minutes ago
- The Sun
Asda launches huge homeware and clothing sale with prices from just 42p
ASDA has kicked off a massive sale, with household essentials and clothing starting at just 42p. The budget-friendly supermarket is offering discounts on a wide range of homeware, electronics and toys. 3 Asda's Brown Super Soft Cotton Towel & Bath Mat Range is now available at George's from just £0.42, down from £0.85. Also on offer is a Disney Stitch Blue Fleece Blanket, now reduced from £5 to £3.47. One shopper shared their find in the Facebook group Extreme Couponing and Bargains UK. They wrote: "Not sure if anyone has posted yet but Asda has a really good sale in store and online. "Most things reduced to £5. Loads of stitch things, loads of pyjama sets for children and adults. "I think it's one of the better Asda sales I've seen in a while, especially on clothes. "This was the one at Crown point in Leeds." Asda's first standalone George store opened on May 10 in Leeds, replacing the former Asda Living site at Crown Point Retail Park. The new store features a wide range of fashion, homeware, toys and baby essentials, along with a new café for shoppers. There are currently 30 Asda Living stores across the UK. Sainsbury's scraps in-store changing rooms leaving shoppers furious Bosses are expected to decide later this year whether to expand the George format following further trials. George was launched in 1989 through a partnership between fashion designer George Davies and Asda, becoming the UK's first supermarket clothing brand. By 2004, it had become the country's biggest clothing retailer, prompting Asda to open Living stores to branch into homeware. Today, George is stocked in 560 Asda stores and attracts 260 million visits annually to its website. It comes as another savvy shopper took to social media to share Asda's in-store George Baby & Kids Clothing sale, with items slashed by 50 percent. The retailer has also rolled out discounts on children's clothing for ages up to 14. Beyond fashion, Asda has knocked up to 40 percent off selected garden furniture for the summer. Its viral rattan egg chair is among the items on the list.
The Independent
43 minutes ago
- The Independent
Rachel Reeves' defiant message following tears in Commons
The Prime Minister and Chancellor presented a united front to calm financial markets following a tumultuous week marked by the Chancellor's visible distress in the Commons. Market instability arose after the Prime Minister initially declined to guarantee the Chancellor's job security during Prime Minister's Questions, where she appeared visibly upset. The Prime Minister later publicly affirmed the Chancellor's position, which helped to stabilise UK government bonds and the pound. Appearing together at the launch of the NHS 10 Year Health Plan, the Chancellor clarified that her earlier tears were due to a "personal issue" and not related to her role. Rachel Reeves explained she is 'just cracking on with the job', as well as reiterating her goal to boost the UK economy and share positive policy announcements.
The Sun
an hour ago
- The Sun
After Two Tier Keir, we now have Two Tear Rachel… Reeves is finished but how long before her boss exits too?
IF there is one cast-iron rule in politics, it's this: If the Prime Minister is having to say he has full confidence you will stay in your job, your days are definitely numbered. So no wonder then that Rachel Reeves was moved to tears as she sat behind Sir Keir Starmer at PMQs on Wednesday when, after months of saying she would be his Chancellor until the next election and beyond, he chose to studiously dodge the question. 2 2 After Two-Tier Keir, we now have Two-Tear Rachel. As those tears rolled down her cheeks, the Chancellor prompted feverish speculation about the cause of her sobs — wiping £3billion off the markets, pushing up government borrowing costs and devaluing the Pound into the bargain. Wheeled out to face the cameras yesterday, Reeves plastered on the make-up and a beaming smile to insist she had been upset about a ' personal issue ' and had been 'having a tough day' which, unlike most people's bad days, was broadcast 'on the telly' for all to see. We may never know the true reason behind her blubbing, but what we do know is that her wobbly bottom lip didn't just wobble the markets, it also sent trembles through the entire Government. Facing a swift exit There is no doubt now that Rachel Reeves is facing a swift exit from the Treasury, even if she does survive until the autumn Budget. Yet the real question mark now is not over HER future but that of her boss, the Prime Minister. This, after all, was supposed to be a week of celebration for Labour's first year in office after winning a landslide victory in the General Election last July. Instead the PM has suffered a humiliating defeat in the Commons over his welfare reforms at the hands of his own backbenchers and been forced to deny he plans to sack his Chancellor while facing approval ratings so low that they've surfaced in New Zealand. Some of us knew this Labour government would be bad but not many realised just how bad they would turn out to be. It would have been inconceivable a year ago to imagine, after being elected to Downing Street with a whopping 411 MPs, that Starmer would be facing questions about not only his Chancellor's future but even his own so soon. Even Britney Spears has had longer honeymoons than this. Squirming Keir Starmer refuses to say Rachel Reeves will be Chancellor at next election after horror Budget And for all the PM's claims that Reeves will be Chancellor for years to come, after months of broken promises and U-turns no one actually believes a word he says any more. After all, Rachel From Accounts hardly had a great start in the job. From the disastrous decision to cut winter fuel payments to ten million pensioners to the inflation-busting pay rises for train drivers and doctors, to the revelations that her CV was full of exaggerations and her taste for freebie tickets to Taylor Swift concerts, the Chancellor's reputation has long been in tatters. The sight of Reeves blubbing in the Commons this week wasn't just embarrassing for her — it embarrassed the whole country. And the desperate cries of 'bullying!' and 'sexism!' by Labour MPs are shameless coming from a party that happily attacked both Margaret Thatcher and Theresa May for crying as they left office. If you can't stand the heat, Rachel, get out of the Number 11 kitchen. The Chancellor's claims to have had a 'tough day' will fall flat with many voters who are having tough days EVERY day thanks to this Government's policies. What about people struggling to pay their bills as the cost of living continues to rise and taxes go up? What about pensioners worried about putting the heating on last winter after Reeves took away their winter fuel allowance? What about the farmers who face losing their family farm thanks to the inheritance tax hike? What about the small business owners who have had to shut up shop after the Chancellor's employer National Insurance rises? Everyone in Westminster knows that the only thing keeping Reeves in her job right now is that she acts as the PM's human shield — someone he can blame for every mishap, every poor judgment, every U-turn and every tax rise to come in the next Budget. From being hailed as Labour's greatest asset, as 'the first woman Chancellor' (as if anyone cared), Reeves has quickly become the Government's punching bag. No wonder the tears have started rolling. It is obvious to everyone that Rachel From Accounts is way out of her depth. But she isn't alone. Starmer is also flailing around like a drowning man, desperate to blame anyone and anything else for his own failings. Nothing of substance Ultimately, though, everyone knows he is in charge and the buck stops with him. Reeves may have exposed a fatal weakness with her tears, but the past 12 months have revealed far greater failings in her boss. As he marks his first year in office, we now know that underneath Starmer's shiny helmet of Brylcreemed hair, there is absolutely nothing of substance. Sir Keir has proved himself to be a Prime Minister with no ideas and no philosophy, no policies and no plan; a man with no backbone and no moral compass. He is a leader who cannot lead, a manager who cannot manage, a politician with no political instinct. The Prime Minister is just an empty suit — and he likely didn't even pay for the suit himself. He probably got Labour donor Lord Ali to buy it for him. Starmer can keep telling us that his Chancellor is going nowhere but we all know her exit from the Treasury will come sooner rather than later. The question remains, after his damaging and chaotic first 12 months in office, can the country survive another year of this Prime Minister? VYLAN COUNT COST OF HATE WORDS have consequences, as the Left-wing cancel culture mob have cried for years as they happily ended the careers of anyone who dared to question them. Well, indeed they do for Bob Vylan, the punk-rap duo from the mean streets of Ipswich, who led chants of 'Death, death to the IDF' and ranted about 'f***ing Zionists' during their Glastonbury performance as it was live-streamed on the BBC iPlayer. Not only do they now face a criminal investigation over their antisemitic chants, they've been dropped by their management, seen visas for a US tour revoked, and UK gigs have been cancelled. Oops. There have been consequences too for the BBC, where institutional antisemitism is now so part and parcel of the corporation's culture that, no one – not even the Director General Tim Davie – could spot the obvious anti-Jew hatred in those chants and shut down the live feed from public view. Now the BBC has said it will no longer live-broadcast 'high risk' performances and staff may face disciplinary action for any failures. As Bob Vylan face the fallout from their 'music' hate-fest, they should learn a lesson from another Glasto performer. As Rod Stewart proved, there's a lot more longevity in showbiz for entertainers who show musical talent than there is for those spewing vile torrents of hate. Oh yes, and a bevy of beautiful leggy blonde backing singers helps too.
