The Bank of England has cut interest rates by a quarter percentage point to 5%, marking the first reduction in over four years. This decision ends the joint-longest period of stable rates since the Bank gained independence in 1997. The nine-member Monetary Policy Committee (MPC) voted five to four in favour of the cut. Lower interest rates will impact many savings accounts and floating rate mortgages immediately, though fixed rate mortgages had already anticipated this change. The rate cut follows a drop in the consumer price index rate of inflation to 2%, the MPC’s target. However, the Bank's updated forecasts indicate that inflation will rise to around 2.75% by the year's end. Governor Andrew Bailey cautioned that while inflationary pressures have eased, rates should not be cut too quickly to maintain stable inflation and support economic growth. The forecasts will be reviewed after the new chancellor’s budget announcement in October.
Birmingham cocaine crime gang boss found guilty
01 Aug 2024Sajid Ali, 56, from Hall Green, Birmingham, has been convicted of leading a criminal gang in a £11 million drug smuggling operation. With four accomplices, he orchestrated a plan to import Class A drugs concealed in a shipment of bananas from Ecuador. The cocaine was hidden inside the roof of a shipping container, which was to be moved from London to an industrial estate in Coventry for extraction and distribution. The National Crime Agency (NCA) arrested the men in April 2022, and seized a total of 139 kilograms of cocaine, valued at up to £11,120,000. Ali was considered too senior to handle the drugs directly and fled to Türkiye when he couldn't reach his associates. He was later arrested at Heathrow Airport when attempting to return to the UK. He denied involvement, but evidence, including burner phone communications, proved otherwise. A successful collaboration between the CPS and the NCA brought him to justice. Proceedings to confiscate the gang's illegal profits have now commenced.
Problematic smartphone use is linked to higher rates of anxiety, depression, and insomnia among teenagers, according to recent research. Teens exhibiting problematic use were twice as likely to report anxiety, with 44% of 13 to 16-year-olds and 56% of 16 to 18-year-olds affected, compared to their peers. While problematic use resembles addiction, it impacts a minority of teens. The study distinguished between screen time and problematic use, noting screen time itself was not directly linked to anxiety or depression but was associated with insomnia. The research, conducted between 2020 and 2022, involved over 700 teenagers. Many teens expressed a desire to reduce phone use, with nearly 90% of younger teens and two-thirds of older teens attempting strategies like silencing notifications. Effective strategies include turning off notifications, using 'do not disturb' mode, and keeping phones out of the bedroom at night.
On 31 July Team GB celebrated a stellar fifth day at the Paris Olympics, highlighted by two gold medals in just fifteen minutes. Triathlete Alex Yee and the women's quad sculls rowers secured the fifth and sixth golds for Britain. Team GB also won a BMX silver, and bronze medals in triathlon and diving. Alex Yee, trailing New Zealand’s Hayden Wilde, made a remarkable comeback to clinch gold in the men’s triathlon, surpassing his Tokyo silver. The women's quad sculls team won gold in a photo-finish against the Netherlands. France's Leon Marchand stole the evening spotlight, achieving an unprecedented 200m breaststroke and butterfly double, bringing his gold tally to three after his individual medley win. Host nation France also celebrated as Cassandre Beaugrand won the women's triathlon, with Britain’s Beth Potter securing bronze. At the end of the day Team GB boasted 17 medals, their highest tally at this stage in any Games. Pray for France as she hosts the games.
British radical Islamist preacher Anjem Choudary, 57, was sentenced to life imprisonment on Tuesday for directing a terrorist organisation. He was convicted of leading al-Muhajiroun, a group banned as a terrorist organisation over a decade ago, and encouraging support for it. 'Organisations such as yours normalise violence in support of an ideological cause,' the judge told him, adding, ‘Such groups embolden individuals to commit acts they might otherwise avoid and disrupt peaceful coexistence.’ Choudary received a life sentence with a minimum term of 28 years before parole eligibility, minus the year he has already spent in custody. Once Britain's most prominent Islamist preacher, he had praised the 9/11 attackers and expressed a desire to convert Buckingham Palace into a mosque. He was imprisoned in 2016 for supporting IS and released in 2018 after serving half of his sentence. He stood trial with Canadian Khaled Hussein, 29, who was sentenced to five years for membership in a proscribed organisation.
Türkiye: largest prisoner swap since 1985
01 Aug 2024Journalist Evan Gershkovich and US marine Paul Whelan have been released from Russian jails in the largest prisoner swap with the West since the Cold War. The exchange, the result of months of complex negotiations, also freed British-Russian dissident Vladimir Kara-Murza, who had been sentenced to 25 years for opposing Russia’s invasion of Ukraine. Others released include Radio Free Europe editor Alsu Kurmasheva, anti-war artist Aleksandra Skochilenko, dissident politician Ilya Yashin, two former staffers for Alexei Navalny, and Russian-German dual citizen Kevin Lik. The swap, conducted in Turkey, involved the US, Russia, Germany, and other nations, led by Joe Biden and his national security team. Biden, speaking from the White House with the families of the released, called it ‘a very good afternoon’ and praised the diplomacy involved. He acknowledged Germany, Poland, Slovenia, Norway, and Turkey for their roles in the negotiation and logistical support.
Government-aligned Italian MEPs are defending a plan to detain migrant arrivals in Albania, despite NGOs calling it ‘cruel’. Two Italian-funded migrant reception centres in Albania, part of a five-year agreement, face delays and are now unlikely to open before the end of the year. Under this deal, Albania will host up to 36,000 asylum seekers a year while Italian authorities handle their cases. The upfront costs are arguably minor compared to managing migration in Italy, but critics, including Amnesty International, argue that the plan violates human rights by detaining migrants for long periods and externalising asylum procedures. The externalisation model, also seen in the now-discarded UK government’s Rwanda plan, is seen as effective by some EU states but raises concerns about human rights and costs.
Ukraine: massive drone attack repelled
01 Aug 2024On 31 July Ukraine repelled one of Russia's most massive attacks since the war began, shooting down 89 Iranian-designed explosive drones and a missile, primarily targeting Kyiv. Despite debris damage to buildings, there were no casualties. This attack comes 29 months into Russia's invasion, with daily bombardments straining Ukraine's air defences. Russia claims it only targets military and energy sites, but residential areas are frequently hit. Volodymyr Zelensky stressed the need for sufficient air defence supplies to protect against Russian strikes and called for faster deliveries of systems like the US-made Patriots. Meanwhile, Ukraine struck a weapons depot in Russia's Kursk region, causing a fire. Russia's slow advance continues, with small gains reported in July, capturing eight villages in north-east, eastern, and southern Ukraine.