🇬🇧 United Kingdom
Geopolitics & Diplomacy
Prime Minister Burnham shifts foreign policy, including sanctions on Israel
Prime Minister Andy Burnham, who took office on 20 July, met Trump for the first time at the UN General Assembly on 22-23 September. He announced sanctions on Israeli West Bank settlements jointly with Canada and 10 European countries, shifting to a tougher line on Israel than before (the "Burnham doctrine").
Sources: fpri.org
Finance & Economy
FTSE 100 rises 0.78% to 10,835.48
[Wed 11/11 close] The FTSE 100 gained 83.89 points as European markets rallied. The Bank of England earlier raised Bank Rate to 4%; its next meeting is Dec. 17.
Sources: investinglive.comBank of England's 25bp hike to 4% confirmed
The Bank of England's own release shows the MPC voted 8-1 to raise Bank Rate from 3.75% to 4%, with one member voting for 4.25%. It is the first hike since 2023, citing energy prices driven by the Middle East conflict, and the Bank sees inflation reaching about 5% by mid-2027. The next meeting is Dec. 17.
Sources: bankofengland.co.uk
Tech & Energy
UK diesel crisis persists: pump prices above GBP 2; Fawley maintenance runs to mid-November
About 55% of road diesel is imported, around 31% of it from the US. The average hit 200.01p on Oct 2. No fresh November reporting was found, so status is as of the latest available.
Sources: petrolprices.co.ukitv.com