, which is i'm _ has written to kwasi kwarteng, which is i'm very— has written to kwasi kwarteng, whichre the same vision _ the government, we share the same vision i_ the government, we share the same vision ithink— the government, we share the same vision. i think many people will be asking, _ vision. i think many people will be asking, if— vision. i think many people will be asking, if that is the case, why has she sacked — asking, if that is the case, why has she sacked him? what we will hear from _ she sacked him? what we will hear from her_ she sacked him? what we will hear from her and about 45 minutes' time, we expect, _ from her and about 45 minutes' time, we expect, is— from her and about 45 minutes' time, we expect, is a really big on picking _ we expect, is a really big on picking of— we expect, is a really big on picking of the mini budget there was only announced three weeks ago. it wasn't _ only announced three weeks ago. it wasn'tiust— only announced three weeks ago. it wasn'tjust the economic only announced three weeks ago. it wasn't just the economic prospectus that th

let me ruickl t kwarteng. lots to talk about. let me quickly try and _ kwarteng. try and bring in a _ quickly try and bring in a couple more stories. 0n the front page of the telegraph, dave got the uk rebuking a manual run for strike. defence secretary is perhaps not taking up the french president has said france wouldn't necessarily use nuclear weapon if ukraine was hit by, limited nuclear strikes. we're in very difficult and delicate territory. in very difficult and delicate territo . , , , ., ., territory. yes, this is the war of words going _ territory. yes, this is the war of words going on _ territory. yes, this is the war of words going on about _ territory. yes, this is the war of words going on about the - territory. yes, this is the war of words going on about the use i territory. yes, this is the war of| words going on about the use of nuclear weapons with putin having declared several times that he would be prepared to use nuclear weapons in ukraine. i think it is all about the deterrence that what ben wallace is saying is saying is that when emmanuel

kwarteng wouldn't even say sorry— have. kwarteng wouldn't even say sorry to _ have.on after he was asked several times on the today programme, it's like eltonjohn said. _ programme, it's like eltonjohn said. sorry— programme, it's like eltonjohn said, sorry seems to be the hardest word _ said, sorry seems to be the hardest word to _ said, sorry seems to be the hardest word to say, — said, sorry seems to be the hardest word to say, but i agree, there was no way— word to say, but i agree, there was no way they— word to say, but i agree, there was no way they could sustain, the markets — no way they could sustain, the markets were getting currently spooked. as the bbc nottinghamshire said, spooked. as the bbc nottinghamshire said. it _ spooked. as the bbc nottinghamshire said, it was like a reverse robin hood~ _ said, it was like a reverse robin hood~ it — said, it was like a reverse robin hood. it was such a bad look, giving to the _ hood. it was such a bad look, giving to the rituals — hood. it was such a bad look, giving to the rituals taking from the poor. they coul

your reaction that kwasi kwarteng has gone? i your reaction that kwasi kwarteng has one?ning on a i policy that has crashed our economy, the most _ policy that has crashed our economy, the most extraordinary _ policy that has crashed our economy, the most extraordinary event - policy that has crashed our economy, the most extraordinary event that - policy that has crashed our economy, the most extraordinary event that wej the most extraordinary event that we have seen— the most extraordinary event that we have seen in— the most extraordinary event that we have seen in my— the most extraordinary event that we have seen in my lifetime _ the most extraordinary event that we have seen in my lifetime as - the most extraordinary event that we have seen in my lifetime as far- the most extraordinary event that we have seen in my lifetime as far as - the most extraordinary event that we have seen in my lifetime as far as i l have seen in my lifetime as far as i can see _ have seen in my lifetime as far as i can see they. _ have seen in my lifetime as far as i can see. they. by— ha

kwasi kwarteng.hy do you think she sacked him? ithink— kwasi kwarteng. why do you think she sacked him? i think brutally _ kwasi kwarteng. why do you think she sacked him? i think brutally and i sacked him? i think brutally and cruell , sacked him? i think brutally and cruelly. the _ sacked him? i think brutally and cruelly, the prime _ sacked him? i think brutally and cruelly, the prime ministers i sacked him? i think brutally andl cruelly, the prime ministers have sacked him? i think brutally and i cruelly, the prime ministers have a tendency to fight to the last drop of someone else's blood but that said, i think the appointment of jeremy hunt, who was secretary of state for health and not the easiest job for a very long time and the foreign secretary was a self—made businessman who understands economics and understands the city and understands business and is also probably one of the most mild—mannered and courteous members of the house and i think that appointment may prove to be a stroke of gen

i think kwasi kwarteng gave a very solid - kwarteng gave a very solid performance.ppened was a blip. at the _ sums, and what happened was a blip. at the beginning of his speech, the chancellor— at the beginning of his speech, the chancellor was quite clear, he admitted _ chancellor was quite clear, he admitted they got it wrong and took it on the _ admitted they got it wrong and took it on the chin. there wasn't really any new_ it on the chin. there wasn't really any new policy, which you could maybe — any new policy, which you could maybe understand, given what has happened — maybe understand, given what has happened over the last ten days. again, _ happened over the last ten days. again, i— happened over the last ten days. again, ithink happened over the last ten days. again, i think he is trying to be reassuring _ again, i think he is trying to be reassuring. what you didn't see is kwasi _ reassuring. what you didn't see is kwasi kwarteng is a very confident individual. — kwasi kwarteng is a very confident individual, and that came across quite _ individual, and

kwarteng, the idea of the chancellor rather than — kwarteng, the idea of the chancellor rather than herbit in the heart, so to speak, when you make _ the heart, so to speak, when you make that — the heart, so to speak, when you make that kind of announcement. he must _ make that kind of announcement. he must have _ make that kind of announcement. he must have discussed it with her but it seems— must have discussed it with her but it seems he — must have discussed it with her but it seems he was pushing it. going back— it seems he was pushing it. going back to _ it seems he was pushing it. going back to the — it seems he was pushing it. going back to the article in the observer, labour— back to the article in the observer, labour have — back to the article in the observer, labour have extended their lead over the conservatives and it has gone up by 40 _ the conservatives and it has gone up by 40 percentage points in the last week _ by 40 percentage points in the last week. we — by 40 percentage points in the last week. ~ ., ., ., by 40 percentage points in the last week. . ., ., ., by 40

her plan, or kwarteng's plan?ing you the details on bloomberg. ♪ >> our position hasn't changed. i will come up with the medium term fiscal plan on the 31st of october, and there will be more detail event. what i am totally focused on is delivering on the mini-budget, making sure we get growth back into our economy. manus: a defiant kwasi kwarteng, chancellor for the united kingdom. despite that, reports are that liz truss is preparing to abandon the text p -- tax cutting in her agenda. herb left seems to have worked. -- her bluff seems to have worked. dani: lizzy burden is outside the bank of a look, what was the turning point? >> between the clip you just played and the evening when kwarteng was asked if the corporation tax freeze would mean the next u-turn, and he said let's see to the telegraph at the imf meeting in washington , what changed was that markets priced this u-turn in. and it's made it seem almost inevitable because earlier in the week, liz truss said she would not cut public spending. so it leaves

kwasi kwarteng's _ capitol? -- art wien. kwasi kwarteng's early _ capitol? -- art wien.rly departure | capitol? -- art wien. kwasi - kwarteng's early departure from the imf does have uncomfortable echoes of that period, although i would have to say the greek debt crisis was on a scale of magnitude different to this, so i think the reason why it has attracted so much international tension is, yes, i think we can agree even if kwasi kwarteng struggled to publicly agree that it was a botched statement on the 23rd of september, the trigger of this, but it is true in saying that the pressure is coming on around the world from higher interest rates are scaring a lot of other countries in terms of whether the uk if you like is the first mover of markets turning on them and demanding higher debt servicing cost but also some of the, if you like, issues that have emerged in financial markets over the last decade as a courtesy of very low interest rates. maybe they are emerging in the uk and they will emerge everywhere over the coming months. it everywhere over the coming months. ,

herself just a kwarteng believes that liz truss has bought herselfjust a few kwarteng believes thating him?— bought herself “ust a few weeks by sacking nim— sacking him? well, what that tells me is it will _ sacking him? well, what that tells me is it will be _ sacking him? well, what that tells me is it will be very _ sacking him? well, what that tells me is it will be very well _ sacking him? well, what that tells me is it will be very well sourced, | me is it will be very well sourced, because i know stephen swinford well and he is an excellentjournalist with fantastic sources. it's a sources close to kwasi kwarteng, it will probably be from kwasi kwarteng himself, if not, a conduit who has passedit himself, if not, a conduit who has passed it on with his authority. clearly, he is very sore and he was up clearly, he is very sore and he was up and this morning, i guess, liz truss' closest political ally. and they were in lock step when it came to the economic approach. the mini budget wasn'tjust his, it was liz truss' as well. as we said earlier, yesterday he was convinced his pos

~ ., kwarteng? i don't think that make the skill and _ kwarteng?e _ kwarteng? i don't think that make the skill and damage that - kwarteng? i don't think that make the skill and damage that she's i the skill and damage that she's managed to do to the party reputation such as it is, it is catastrophic. sacking kwasi kwarteng won't change the fact that the public have had a look at her and they are not happy and not impressed. that's what those ground—breaking opinion polls showed us last week with labour and most pools leading by 33%. she's already done the damage. the damage is already done. talking about sacking kwasi kwarteng isn't going to bring anyone back. ijust want kwasi kwarteng isn't going to bring anyone back. i just want to say something, that mps don't come into politics to make people's lives harder. i don't know anyone who went into politics for those reasons. a lot of time, literally millions of people are scared about how they are going to get through the next six months. to even talk about tax cuts, never mind tax cuts for higher e

so i kind of feel that if liz truss and kwasi kwarteng _ feel that if liz truss and kwasi kwarteng fallat most _ repeated u—turns and the fact that most of— repeated u—turns and the fact that most of their mps have no faith in them, _ most of their mps have no faith in them, i_ most of their mps have no faith in them, i kind of feel there may well be a general election and the public will demand that. because they will want will demand that. because they will warrt to— will demand that. because they will want to say at that point who their prime _ want to say at that point who their prime minister will be. and they won't _ prime minister will be. and they won't want to leave it to the conservative party to decide that. and yet _ conservative party to decide that. and yet emma, conservatives will say they would be very worried about that because many mps will fear losing their seats. they will argue no doubt that the public voted for the conservatives.— no doubt that the public voted for the conservatives. yes. and sean, with the greatest _ the conservatives. yes. and sean, with the grea

should the prime minister go next, mr kwarteng? hello, good morning.this. in his letter to the prime minister, he wrote... in reply, liz truss wrote... in reply, liz truss wrote that they share the same vision and... jeremy hunt is a former health secretary and foreign secretary, and has tried to become leader himself twice. now, he is the fourth chancellor of the exchequer since july. politics has been on fast forward this autumn. it's five—and—a—half weeks since liz truss became prime minister. mr speaker, we are at - the beginning of a new era and as we contemplate... it's three weeks since the now former chancellor set out his planned tax cuts. and less than a fortnight since he ditched the cut for the best paid. i felt, and the prime minister felt, . that this was just a distraction . on what is a very strong package. and then, just yesterday, there was this. and you will be chancellor and liz truss will be prime minister this time next month? absolutely 100%. i'm not going anywhere. perhaps it's little wonder the conservatives' political rivals a

well, i— kwarteng. why do you think she sacked him? well, i think- kwarteng.d cruelty. _ sacked him? well, i think brutally and cruelly, prime _ sacked him? well, i think brutally and cruelly, prime ministers - sacked him? well, i think brutally and cruelly, prime ministers have| sacked him? well, i think brutally. and cruelly, prime ministers have a tendency to fight to the last drop of somebody else's blood. but i think that the appointment ofjeremy hunt who was the secretary of state, not the easiest job for very long time and forforeign not the easiest job for very long time and for foreign secretaries is a self—made businessman who understands economics and understands economics and understands business. and is also probably one of the most mild—mannered encourages members of the house and i think that appointment may prove to be a stroke of genius. if anybody can turn this around, i would suggest thatjeremy possibly can. around, i would suggest that jeremy possibly can-— possibly can. with that be enough, do ou possibly can. with that be enough, do you t

kwasi kwarteng has had to wave goodbye — kwasi kwarteng has had to wave goodbye to hisjob kwasi kwartengo wave goodbye to his job after 38 days as chancellor. former health secretary and leadership candidatejeremy hunt is now tasked with bringing the financial turmoil under control — what can he do? he will hope things can get better, the prime minister hasjunked he will hope things can get better, the prime minister has junked two key planking of her programme for government. and her chance, the big question tonight, can she survive? also on the programme. police investigating the murder of leah croucher say a convicted sex offender who died three years ago is the murder suspect. almost a month since the death of mahsa amini in iran over her headscarf, 200 people are reported to have been killed. and robbie coltrane has died at the age of 72. and robbie coltrane has died at the age of 72. and coming up on the bbc news channel. hailed at the most inclusive rugby league event ever, we bring you all the build up to the world cup ahead of tomorrow's opening game. good evening and welcome to

kwasi kwarteng is fired as chancellor by prime minister liz truss. britain's pm announces another major u—turn on her economic plans — a rise in corporation tax will now go ahead. it is clear that parts of our mini budget went further and faster than markets were expecting, so the way we are delivering our mission right now has to change. we need to act now to reassure the markets former health secretary and leadership candidate, jeremy hunt, is now tasked with bringing the financial turmoil under control. also in the programme: iran's supreme leader warns no one can overturn the islamic republic, as protesters again take to the streets. and the actor robbie coltrane, who played hagrid in the harry potter films, has died aged 72. welcome and thank you. less than 2a hours after kwasi kwarteng insisted he was 100% safe in his job as uk chancellor, he has gone — sacked by liz truss after he flew back early from washington. in a day of political drama, the prime minister also reversed another of her key tax policies in an attempt to calm the financial ma

the telegraph headlines with �*truss clings to power after axing kwarteng.mps are plotting to oust the prime minister within days. the same sentiment is echoed in the times — who report that the prime minister �*fights for survivial�*. the daily mail headlines with �*how much more can she and the rest of us take�*? they've considered her 38 days in charge as some of the most �*shambolic�* in uk political history. a day of chaos is the headline from the front of the guardian. the sun go for a different lead and that is the death of the actor and comedian, robbie coltrane, at the age of 72. so let's begin. front page of the financial times, there is only one story to lead with. the lead story there is suggesting that the prime minister got rid of her chancellor to save her premiership?— got rid of her chancellor to save her premiership? yes, i think it is really clear _ her premiership? yes, i think it is really clear that _ her premiership? yes, i think it is really clear that is _ her premiership? yes, i think it is really clear that is exactly - her premier

kwasi kwarteng is no longer chancellor of the exchequer, the bbc has learned.is not yet clear whether he was sacked by liz truss or chose to resign. the chancellor rushed back to london overnight after cutting short a trip to washington for the meeting of the imf. after days of turmoil, indeed weeks on the financial market following the mini budget, the prime minister is about to hold a downing street conference to explain what's going on with herfinancial street conference to explain what's going on with her financial policy. some mps have called for a u—turn. my some mps have called for a u—turn. my advice to the prime minister would be to do it, do it now, something that will be firm, bold and convincing. liz truss has faced growing calls from within her own conservative party to rethink her economic plans. labour, the principal party of opposition in the uk, says a u—turn would mean liz truss has to resign. liz truss who got us into all this trouble, rowing backwards desperately, not knowing where she's going, what would —— what good would that do for brita

couple of those present had then subsequently talked to contacts of the way they described kwasi kwartengo have if you are chancellor of the exchequer, to feel that somehow you are in the pocket of some of these financiers. but there has been speculation since the budget about, not least because the budget about, not least because the pound did crash, or continue its slide, one might say, because it has been pulling quite some time for drier to the budget, but there has been speculation that quite a lot of people have benefited by shorting the pound and it only fuels the suspicion that kwasi kwarteng's priorities haven't necessarily been about either the economy or the people that he is purporting to help, but it is this very narrow slice of society, the high rollers, the more affluent people, certainly people who would be benefiting from one of kwasi kwarteng's policies which was to eliminate the 45p tax break, and againjust which was to eliminate the 45p tax break, and again just fuels speculation about the company he is keeping who he has been influenced by and whether he is being egge

they are also saying liz truss has confidence in her chancellor kwasi kwarteng. asked by mps at westminster as to who is really controlling economic policy. is it number ten downing street, or is it numberii? is it number ten downing street, or is it number 11? certainly, when the 45p reversal was done, that was the top rate of tax, they were going to abolish it and then they decided not to abolish it after all and there was a feeling that pressure was coming from the prime minister more than from the chancellor, that she was in listening mode and she had listened to concerns. she is also listening to concerns about wider tax policies, so it could be that she is in the driving seat if a u—turn or a manoeuvre is executed. when he gets back into the country and around 11 o'clock this morning, the question will be, how quickly do they act? do they u—turn at all? do they act? do they u—turn at all? do they wait until october the 31st, when he has got a fiscal statement, as he calls it, a financial statement to set out how the government is meant to be paying for some

should the prime minister go next, mr kwarteng? the formalities look like this.e wrote "you have asked me to stand aside as your chancellor, i have accepted." in reply, liz truss wrote that they shared the same vision and... "i'm deeply sorry to lose you from the government." jeremy hunt is a former health secretary and foreign secretary, and has tried to become leader himself twice. now, he is the fourth chancellor of the exchequer since july. politics has been on fast forward this autumn. it is five—and—a—half weeks since liz truss became prime minister. mr speaker, we are at the beginning of a new era and as we contemplate... it is three weeks since the now former chancellor set out his planned tax cuts. and less than a fortnight since he ditched the cut for the best paid. ifelt, and the prime ministerfelt, that this was just a distraction on what is a very strong package. and then, just yesterday, there was this. and you will be chancellor - and liz truss will be prime minister this time next month. absolutely 100%. i'm not going anywhere. perhaps it is littl

these two, kwasi kwarteng and liz words. these two, kwasi kwarteng and liz truss— words.— increasingly isolated. we had liz truss simply throwing her chancellor under the bus. the legs were under the bus— under the bus. the legs were under the bus it— under the bus. the legs were under the bus if not the whole body when it had _ the bus if not the whole body when it had been— the bus if not the whole body when it had been a decision taken by him not by, _ it had been a decision taken by him not by, cabinet. the tory party i find, _ not by, cabinet. the tory party i find, they— not by, cabinet. the tory party i find, they reveal their colours every — find, they reveal their colours every step of the way, they are worried — every step of the way, they are worried about this rebellion not because — worried about this rebellion not because it is somehow immoral but because _ because it is somehow immoral but because they are worried it will cost _ because they are worried it will cost them _ because they are worried it will cost them the next election. not because — cost them

liz truss i kwasi kwarteng _ government. liz truss i kwasi kwarteng did _ government.signs up to this trickle—down model of economics which has failed our country and has resulted in the instability and insecurity and volatility we have seenin insecurity and volatility we have seen in the last three weeks since the former chancellor's mini budget. of the former chancellor's mini budget. of course the conservatives are at a low point and weak point at the moment but in all honesty, would labour want to take power? there are so many external factors and actors causing economic turmoil. labour would be taking charge of such an unstable ship. the would be taking charge of such an unstable ship.— would be taking charge of such an unstable ship. the truth is that the uk is the only _ unstable ship. the truth is that the uk is the only country _ unstable ship. the truth is that the uk is the only country in _ unstable ship. the truth is that the uk is the only country in the - unstable ship. the truth is that the uk is the only country in the world | uk is the only country in

i think in reality before kwasi kwarteng comes and does his next financial— kwarteng comes and does hisne, the many budget, who knows what it will he _ the many budget, who knows what it will be called. i think it is probably most likely that she is going _ probably most likely that she is going to — probably most likely that she is going to have to ditch that plan on corporation tax. she had promised the leadership campaign that she would _ the leadership campaign that she would cancel plan rise inc. corporation tax next april. that seems — corporation tax next april. that seems to— corporation tax next april. that seems to be the things that a lot of tory mps _ seems to be the things that a lot of tory mps are talking about today, that seems to be the one think they are saying _ that seems to be the one think they are saying for the head on a minute, this isn't— are saying for the head on a minute, this isn't something that even business _ this isn't something that even business leaders are called for. why are we _ business leaders are called for. why are we spending more than £15 bil

you shadowed i think kwasi kwarteng in his _ i think kwasi kwarteng in his previousjob as business iat was your impression of him? mr; what was your impression of him? i’i impression what was your impression of him? ii impression of him what was your impression of him? ii1 impression of him then what was your impression of him? ii1: impression of him then was what was your impression of him? ii1 impression of him then was very much somebody who was quite ideological driven, he had his ideas about how things were supposed to work, and i thought he was somebody who thought he was right. i dare say i thought he was right. i dare say i thought he had a bit of a superiority complex, if i can call it that. someone who doesn't listen to advice, and i think that is what we have seen. he fired treasury officials who could have warned him officials who could have warned him of the potential hazards of pursuing the path he has pursued. he has failed to take heed of what the bank of england have been saying, what the 0br have been saying, very much pursued this course along with liz truss who ob

should the prime minister go next, mr kwarteng? hello, good afternoon.this. now, he's the fourth chancellor since july. politics has been on fast forward this autumn. it's five—and—a—half weeks since liz truss became prime minister. mr speaker, we're at- the beginning of a new era and as we contemplate... it's three week since the now former chancellor set out his planned tax cuts. and less than a fortnight since he ditched the cut for the best paid. i felt and the prime minister felt i that this was just a distractionl on what is a very strong package. and then, just yesterday, there was this. and you will be chancellor and liz truss will be prime minister this time next month. absolutely 100%. i'm not going anywhere. perhaps it's little wonder the conservatives play political rivals are sounding like this. another change in who is running the treasury, another tory chancellor isn't the answer to the challenges that we face as a country. the tories are out of ideas, they're out of time — it's time for a labour government. this is beyond a joke, it was n

under intense scrutiny, kwasi kwarteng abandons his policy of cutting income tax for the highest earnerse chancellor of the. after consistently _ the chancellor of the. after consistently defending - the chancellor of the. after consistently defending the l the chancellor of the. after - consistently defending the move, the chancellor of the— consistently defending the move, he was told by colleagues the policy was told by colleagues the policy was wrong at a time of rising costs for millions. i know the plan put forward only ten days ago has caused a little turbulence. i get it. laughter. we are listening and have listened. just 2a hours earlier, the prime minister had been insisting the policy would stay, despite the widespread criticism. and tonight, another shift by the government, forced by events to make it, they are bringing forward their plan for dealing with debt to later this month, to try to reassure the markets. we will have the latest from birmingham on what the chancellor admitted had been a tough day. also tonight... raising the flag. ukrainian forces retake a village in o

kwarteng? the calculation they have made that it — kwarteng?er— kwarteng? the calculation they have made that it is better to _ kwarteng? the calculation they have made that it is better to do - kwarteng? the calculation they have made that it is better to do this - made that it is better to do this now than later and the hope is that they will limit the damage by saying we got it wrong, we have listened, and we understand. they are hoping they will then limit the damage. but i have got to say, i am not all that certain it will work. a couple of reasons, one is that the level of opposition to this was quite significant from a couple of weeks ago, it is not something thatjust happened overnight. conservative mps are worried that it took too long to happen already. the second reason is there is criticism of other parts of there is criticism of other parts of the plan as well. we have heard from the plan as well. we have heard from the labour party this morning. seeing the government should now rethink the whole idea of cutting corporation tax. we

kwasi kwarteng flies back early from his u.s. trip. ahead of this weekend's commonest party conference in beijing, we look at she's same paying --xi jinping and his plan to stay in power. francine: what a week we had, it was 10 hours ago that dax futures gained 1.5%, and if you are a trader in these markets you don't really know where to place your bet when you have hot inflation out of the u.s. because there are two interpretations and we saw that yesterday. tom: at one point the s&p 500 was down 1.5%, it ended up 6% despite the red hot inflation print. is this a bear market rally, and we have to factor in what is happening in the u.k. as the boe prepares to step away from bond buying action. the spanish ibex gaining 1.5%, the ftse 100 up more than 1% and the cac 40 gaining 1.5%. picking up after a strong session in the stateside and asia. let's switch it over to our cross assets board and get a sense how futures are looking. before, we will check on sterling and a big day as the boe assesses whether it can walk away from bond purchas

kwasi kwarteng says that tax cuts _ fat to trim. tax cuts will _ fat to trim. kwasi kwarteng says that tax cuts will boost - fat to trim. kwasi kwarteng says that tax cuts will boost the - fat to trim. kwasi kwarteng says - that tax cuts will boost the economy and make such saving is unnecessary, and make such saving is unnecessary, and he has brought forward the date where he will explain his planning full to october the 31st. but will it be enough to calm the markets, which are already badly shaken? ben king, bbc news. the uk's unemployment rate has dropped to its lowest level for almost 50 years. according to the office for national statistics, betweenjune and august the unemployment rate fell to 3.5% — the lowest quarterly rate since february 197a. this is partly due to an increase in the number of people classed as economically inactive — that's people who aren't ready to start work within a fortnight and haven't been looking for a job during the last month. it's estimated that is around 9 million working age adults — that's on

chancellor kwarteng has been sacked.morning, no doubt leading off with the imf star and what is taking place in the u.k. over the past month. from new york, this is bloomberg. lisa m.: keeping you up-to-date with the first word. kwasi kwarteng has confirmed he will step down as chancellor. the times is reporting jeremy hunt is in line to take over after the position. liz truss expected to hold a news conference later today expecting to reverse parts of her economic strategy. that u-turn follows weeks of market pressure to explain how she will pay for her program. attention focused on whether liz truss will cancel plans to freeze corporation tax next year instead of raising it as previously planned. kroger has agreed to buy rival albertsons at a deal worth an estimated $24.6 billion. the company say investors will receive $34.10 for each share in albertsons which includes a special dividend. the company plans to sell as many as the hundred 75 stores through spinoff. -- 370 five stores through a spinoff. 24 hours a day on

kwasi kwarteng is sacked as britain was by liz truss. straight after the sacking the pm announces another major u—turn on her economic plans. it is clear that parts of our many budget went further and faster than markets were expecting. so the way we are delivering our mission right now has to change.- delivering our mission right now has to change. more than 1000 venezuelan _ now has to change. more than 1000 venezuelan migrants - now has to change. more than | 1000 venezuelan migrants set out from southern mexico heading towards the us border. around's supreme leader warns that no—one can overturn the islamic republic as protesters again take to the street. hello, sorry, don't wish to be rude but i'm in no fit state to entertain today.— rude but i'm in no fit state to entertain today. and the actor robbie coltrane _ entertain today. and the actor robbie coltrane who - entertain today. and the actor robbie coltrane who played i robbie coltrane who played hagrid in the harry potter films has died at the age of 72. welcome to our viewers

that is now what kwasi kwarteng has to establish. has to sort out quickly what, why?arkets the government borrowing, that funding has been pulled at the end of today so really to have a weekend to sort out what they are going to do. are they going to u—turn? how much are they going to u—turn on orare how much are they going to u—turn on or are they going to face the markets next week is a very big stakes, a dramatic return to london for the chancellor of the exchequer. still to come: the teenage girl on an emoji mission to stop people who wear glasses from being portrayed as nerds. parts of san francisco least affected by the earthquake are returning to life, but in the marina area where most of the damage was done, they're more conscious than ever of how much has been destroyed. in the 19 years since he was last here, he has gone from being a little—known revolutionary to an experienced and successful diplomatic operator. it was a 20—pound bomb exploded on the fifth floor of the grand hotel, - rapping a hole — in the front of the building. this government will not we

kwasi kwarteng is sacked as britain's chancellor by prime minister liz truss. staright after the sacking the pm announces another major u—turn on her economic plans. it is clear that parts of our mini budget went further and faster than markets were expecting, so the way we are delivering our mission right now has to change. these are life pictures from turkey where a rescue operation is under way on the black sea coast after an explosion at a coal mine. 25 people are known to have died. iran's supreme leader warns no one can overturn the islamic republic, as protesters again take to the streets. hello, sorry, don't wish to be rude but i'm in no fit state to entertain today. and the actor robbie coltrane, who played hagrid in the harry potter films, has died aged 72. welcome to our viewers on pbs in america and around the globe. britain's prime minister, liz truss, has sacked the chancellor of the exchequer, the finance minister, kwasi kwarteng, just 38 days into his tenure. his departure came as the prime minister's economic growth plan and political credibili

kwasi kwarteng is sacked as britain's chancellor by prime minister liz truss. staright after the sacking, the pm announces another major u—turn on her economic plans it is clear that parts of our many budget went further and faster than markets were expecting, so the way we are delivering our mission right now has two change. iran's supreme leader warns no one can overturn the islamic republic, as protesters again take to the streets. and we'll bring you the story of a six—month—old ukrainian boy who's never known life without war. hello and welcome to bbc news. britain's prime minister, liz truss, has sacked the chancellor of the exchequer, britain's finance minister, kwasi kwarteng, just 38 days into his tenure. his departure came as the prime minister's economic growth plan and political credibility are being called into question. he's been replaced by the former foreign secretaryjeremy hunt. in a press conference lasting less than nine minutes, ms truss was asked four times why she was remaining in herjob, with reports that some of her own conservative mps

kwasi kwarteng is now expected to bring forward publication this is bbc news, the headlines... of hisedium term fiscal plan from 23 november to this month. indonesia has sacked a police chief after one of the world's worst football stadium disasters. at least 32 children were among 125 people who died in the crush. as russian forces retreat from more territory in eastern ukraine, president putin's spokesman has played down the possibility of using tactical nuclear weapons. dmitry peskov said such decisions should not be taken emotionally. and a royal welcome in scotland, as the king and the queen consort attend their firstjoint engagement since the end of formal mourning. hello, and welcome to our look ahead to what the papers will be bringing us tomorrow. with me are dame ros altmann, who's a former pensions minister, and the features writer for the independent, james rampton. welcome to you both. a stark message from the daily mail, which says senior tories are attacking the government's u—turn on plans to remove the top rate of income tax. the chancellor's admission to conservative

on friday, we heard of kwasi kwarteng's sacking. been a busy week for what used to be the business and economics unit and now the money, technology and data department, but its editor has spared the time to talk to us. and thank you for coming on newswatch. and being ex chancellor and already some viewers said that they feel the need that the media has contributed to his departure. when you have a story which started with the pound being at a record low against the dollar, that spike in government borrowing at the bank of england and intervention up to £65 billion in government u—turns, think this is a story that is very dramatic in its own right. but that the media contributing to that. it's been very volatile time for a couple of weeks now and viewers have pointed out not all the data, economic data out there is disastrous. has the bbc been too quick since the mini—budget tojump on only the bad figures? i think the real world impacts of what's happening in the past few weeks in terms of mortgage costs for people and be seeing some

meanwhile, i think kwasi kwarteng distracts me as — think kwasi kwarteng distracts me as somebody — hen a different planet, so the honest answer— different planet, so the honest answer is — different planet, so the honest answer is i don't know what i would — answer is i don't know what i would do _ answer is i don't know what i would do. i think they are in such— would do. i think they are in such a — would do. i think they are in such a mess, and it seems like everything _ such a mess, and it seems like everything they do is making it worse — everything they do is making it worse. there isn't a clear strategy _ worse. there isn't a clear strategy. it was interesting today, _ strategy. it was interesting today, james cleverly said, our plan _ today, james cleverly said, our plan is — today, james cleverly said, our plan is to— today, james cleverly said, our plan is to grow the economy. that's— plan is to grow the economy. that's not— plan is to grow the economy. that's not a plan, that's an objective _ that's not a plan, that's an objective-— that's not a plan, that's an objective. b

rates going _ kwarteng for the mortgage rates going up— kwarteng for the mortgage rates going up i thinkp i think a lot of others will do the same. as going up i think a lot of others will do the same. as journalists and will do the same. as 'ournalists and shirt were going — will do the same. as 'ournalists and shirt were going to — will do the same. as journalists and shirt were going to be _ will do the same. as journalists and shirt were going to be focusing - will do the same. as journalists and shirt were going to be focusing on l will do the same. as journalists and shirt were going to be focusing on aj shirt were going to be focusing on a lot of those people and hearing the stories time after time. another story on the front page of some of the papers, front page of the telegraph, operations asked as blood supplies run low. quite a worrying story. operations asked. yes supplies run low. quite a worrying story. operations asked.— story. operations asked. yes it's coin: story. operations asked. yes it's auoin to story. operations asked. yes it's going to be _ story. operations aske

kwasi kwarteng has had to wave goodbye — kwasi kwarteng has had to wave goodbye to hisjob kwasi kwarteng

should the prime minister go next, mr kwarteng? hello, good afternoon.ons, mr chancellor, nice to — congratulations, mr chancellor, nice to see _ congratulations, mr chancellor, nice to see you _ jeremy hunt is a former health secretary and foreign secretary, and has tried to become leader himself twice. now, he is the fourth chancellor of the exchequer since july. perhaps it's little wonder the conservatives' political rivals are sounding like this. another change in who is running the treasury, another tory chancellor isn't the answer to the challenges that we face as a country. the tories are out of ideas, they're out of time, it's time for a labor government. this is beyond a joke — it was never funny, but liz truss has already, through her own decisions, crashed the economy and heaped misery on people who were already struggling with the cost of living crisis. so many questions for the prime minister, but she only asked four of us to ask one. chris mason. excuse the bluntness, prime minister, but given everything that has happened, what credibility

kwasi kwarteng summed it up at the i kwarteng summed it up at the beginning of his speech. has been, you could tell by the substance of his speech reflecting the turmoil there has been at the tory party conference so far by being pretty anodyne. there were no new policy announcements, it was a short speech or about 20 minutes, and not to what had happened saying he wanted to drop a line under it with no more distractions and getting on with delivering the growth plan, focus on the energy bill support package and other measures they want to trumpet but he wanted to keep that pretty brave, no surprises, nothing that might shock but it was designed to reassure and lay out the government's plans rather than being any sort of major event. it wasn't a very warm reaction in the hall, may be at the end there was a warm up from the audience but it was a pretty flat speech from a chancellor who has been to a bruising experience this morning. been to a bruising experience this morninu. ., ., ., , ., morning. how do delegates feel about this they have — morning. how do delegates feel a

this will be the time for kwasi kwarteng to lay out his agenda. we saw that y -- u-turn that they are going to bring forward that fiscal statement. kwasi kwarteng insisting that was going to be at the end of november, now we know it is going to be before the boe rates decision. this is good news because the bank of england now knows what they will delight wit -- deal with. liz truss and kwasi kwarteng will be on a charm offensive, they will be meeting with rebellious backbenchers. they will be meeting with the 1922 committee. also, kwasi kwarteng is off to washington later to meet with the imf. manus: it's all about confidence. that's really what the market wants to get from them, let's see if they can deliver that in washington. tom, you flagged tsmc on the tank this morning, down over 8%. i wonder how pervasive that will be across the rest of our markets, 240 billion wiped out globally this year. tom: there is tensions between the u.s. and china, but also the buildup of inventory in the semiconductor space, those dual pressures being digested fo

~ , , ., , kwarteng in terms of what they tried to do? absolutely.ction and many of them worry that her qualities could lose them their seats in the next election and the fact they have secured a u—turn on the 45p tax rate will definitely embolden tory rebels and a lot of conservative mps are worried not just about the tax rate but the implications introducing tens of billions of pounds of tax cuts without saying how you will fund them will have for their constituents. the independent resolution foundation said if you are going to do it through spending cuts you have to do spending cuts on the scale george osborne did back at the scale george osborne did back at the beginning of the decade. this is at a time when the nhs is already in crisis, it was last month in september, the nhs is struggling as a result of underfunding for a decade and two years of pandemic. head teachers say some primary schools might not be viable without extra financial support because of rising energy bills and the cost of staff so public services are already in this place wh

, ., ., kwarteng did today? he explained to t and kwarteng did today? try and save — kwarteng did today? he explained to try and save lay _ kwarteng did today? he explained to try and save lay estate _ kwarteng did today? he explained to try and save lay estate market. - kwarteng did today? he explained to try and save lay estate market. it - try and save lay estate market. it looks like he's probably done that. his second job was to stabilise his party, the governing conservative party and i think the jury is out on that. we've seen some prominent front—line conservators, michael gold, grant shapps being critical of the current direction of travel. and in the polls, it's not looking good for the new prime minister and the new government. they really have had a terrible week and we've not seen leads like this for the opposition party since the 1990s.— party since the 1990s. that's a difficult contact. _ party since the 1990s. that's a difficult contact. like - party since the 1990s. that's a difficult contact. like a - party since the 1990s. that's a di

and they don't add up if you look at kwasi kwarteng's £45 billion unfunded _ look at kwasi kwarteng's u ., , , , �* add up. is interesting isn't the financial times _ add up. is interesting isn't the financial times quotes - add up. is interesting isn't the financial times quotes the - add up. is interesting isn't the i financial times quotes the astute add up. is interesting isn't the - financial times quotes the astute of fiscal studies saying that they have effectively become a 60 billion hole in the figures. presumably it is a combination of things notjust the tax but it's being funded but also presumably is the effect of inflation which must have already leaned in significantly to the spending budgets.— leaned in significantly to the s-oendin budoets. . . ., , , spending budgets. what will happen next is even — spending budgets. what will happen next is even more _ spending budgets. what will happen next is even more consequential- spending budgets. what will happen | next is even more consequential and terrifying. because the only option they have left is to cut public spending

i don't manage kwasi kwarteng's diary, believe me. fist don't manage kwasi kwarteng's diary, believe me at a time when many people are struggling, and - believe me. at a time when many people are struggling, and you i believe me. at a time when many| people are struggling, and you say that you want to reassure them at a hard time and in a hard winter, would you say to him, don't do that again, because it might give people the impression that you care more about people in the city who have a lot of money who will gain from the scrapping of the top rate of tax, then the people you have mentioned who you say you want to reassure and help. would it have been better if help. would it have been better if he didn't go? i help. would it have been better if he didn't go?— help. would it have been better if he didn't to? , , ., he didn't go? i get up every morning as prime minister— he didn't go? i get up every morning as prime minister thinking, - he didn't go? i get up every morning as prime minister thinking, how i he didn't go? i get up every morning as prime minister thinking, how can | as p

as follows her earlier decision to sack her chancellor kwasi kwarteng.abor party says the government is in meltdown and it is time for a general election. and around's supreme leader ayatollah

everyone is assembling and kwasi kwarteng will be going there as well— kwasi kwarteng will be going theree imf meeting. the fact that the imf has said that £62 billion— that the imf has said that £62 billion worth of savings are going to have to— billion worth of savings are going to have to be made. the big question. _ to have to be made. the big question, which the markets are scratching — question, which the markets are scratching their heads on, i've been scratching _ scratching their heads on, i've been scratching my head on for weeks now is that— scratching my head on for weeks now is that on— scratching my head on for weeks now is that on the back of 100 billion harring — is that on the back of 100 billion barring on covid, on the back of another— barring on covid, on the back of another 89 _ barring on covid, on the back of another 89 billion government intervention to help people keep their energy bills down to the average — their energy bills down to the average household to the bid of £2500 — average household to the bid of £2500. all this is gonna cost a lot of money— £2500. a