Sunday, 3 July 2022 – 09:24

Briefing Friday 3rd August

The Bank of England has raised interest rates to 0.75% – the highest level since 2009. The Bank’s Monetary Policy Committee (MPC), which sets interest rates, voted unanimously to increase the cost of borrowing from 0.5% to 0.75% at its August meeting. The bank said: “although the global outlook was a little softer, recent data appeared to confirm that the dip in UK output in the first quarter had been temporary, with momentum recovering in the second quarter”. 

In a 2010 speech on Gaza, opposition leader Jeremy Corbyn had previously compared the actions of Israelis to Nazis and spoke of the sieges of Leningrad and Stalingrad to describe the treatment of Palestinians. This comes amidst claims that the Labour party are failing to adequately deal with anti-Semitism within the party, whilst they are also facing a great deal of scrutiny for not adopting an internationally recognised and accepted definition or real-life examples of anti-Semitism. However, many feel as though the international definition does not allow for sufficient criticism of Israeli policy, particularly towards Palestine, which is causing hesitancy within the party.

Apple has become the first public company to be worth 1 trillion dollars. The company’s value has risen following better than expected second-quarter sales, meaning their stock has risen by 50,000% since the company were first listed in 1980. This comes despite news yesterday that Huawei have overtaken the company to become the second largest phone company in terms of sales. However, despite the trillion-dollar value, Apple are still only paying a fraction of their revenue in taxes globally.

And in other news,

Following a stellar World Cup in which England star Harry Kane claimed the golden boot, the striker has now turned up on the five-pound note. Micro engraver Graham Short has engraved Harry Kane’s face onto 6 five-pound notes, one for each goal Kane scored at the tournament. The notes are reportedly worth up to £50,000 with one given to the England man, one to the Football Association, and the rest in circulation around the UK.

From the Speakerpolitics news desk, you are up to date

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