kwarteng, which is i'm _ has written to kwasi kwarteng, which is i'm very— has written to kwasi kwarteng we share 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

kwarteng is out _ plans tax—cut while kwasi kwarteng is out of _ plans tax—cut while kwasi kwarteng that she is locked in talks. where in reality we note that this — in talks. where in reality we note that this is — in talks. where in reality we note that this is their budget and they that this is their budget and they that two— that this is their budget and they that two of them seem very isolated but they— that two of them seem very isolated but they do seem to on this. to that two of them seem very isolated but they do seem to on this.- but they do seem to on this. to stay with you. but _ but they do seem to on this. to stay with you. but to _ but they do seem to on this. to stay with you, but to bring _ but they do seem to on this. to stay with you, but to bring in _ with you, but to bring in the telegraph because they are saying kwasi kwarteng... i'm not going anywhere. the telegraph saying liz truss is just over two weeks to reset her partnership or face pressure to go. if it is even two weeks given some of the speculation. we've heard... weeks given some of the speculation. w

kwasi kwarteng over the side, she checking _ kwasi kwarteng over the side, she checking this — kwasi problems is kwasi kwarteng didn't pluck— problems is kwasi kwarteng didn't pluck this— problems is kwasi kwarteng didn't pluck this policy— problems is kwasi kwarteng didn't pluck this policy from _ problems is kwasi kwarteng didn't pluck this policy from nowhere, i problems is kwasi kwarteng didn't pluck this policy from nowhere, it| pluck this policy from nowhere, it was an— pluck this policy from nowhere, it was an essential— pluck this policy from nowhere, it was an essential plank— pluck this policy from nowhere, it was an essential plank of- pluck this policy from nowhere, it was an essential plank of liz- was an essential plank of liz truss's— was an essential plank of liz truss's election _ was an essential plank of liz truss's election campaign i was an essential plank of lizi truss's election campaign as was an essential plank of liz- truss's election campaign as leader. her whole _ truss's election campaign as leader. her whole pitch _ truss's election campaign as leader. h

we heard kwasi _ higher wages. but that is a huge if. we heard kwasi kwarteng - higher wages.have you turned on a policy within ten days, what else might you u—turn on? it is what else might you u-turn on? it is a [an has what else might you u—turn on? it is a plan has specific steps and specific— a plan has specific steps and specific measures. you won't have lon- specific measures. you won't have long to _ specific measures. you won't have long to wait — specific measures. you won't have long to wait for the 0br forecast. the end _ long to wait for the 0br forecast. the end of— long to wait for the 0br forecast. the end of november. we long to wait for the obr forecast. the end of november.— long to wait for the obr forecast. the end of november. we have to make sure that all _ the end of november. we have to make sure that all of — the end of november. we have to make sure that all of the _ the end of november. we have to make sure that all of the policy _ the end of november. we have to make sure that all of the policy is _ the end of november. we have to make sure that al

— kwasi kwarteng. why do you think she sacked him? i— kwasi kwarteng.cked 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 genius. if anyone can turn this around, i would suggest thatjeremy possibly can. d0 around, i would suggest that jeremy possibly can-— possibly can. do you think they'll be enough _ possibly can. do you think they'll be enough

kwarteng — keir starmer as he was —— kwasi kwarteng as— keir starmer as he was —— kwasi kwarteng ase interview said it was thejob prime minister in the interview said it was the job of kwasi kwarteng to meet with businessmen. i want to move on to page four of the times what it has an article saying the letter from what it has an article saying the letterfrom kwasi kwarteng warns what it has an article saying the letter from kwasi kwarteng warns of austerity and austerity 2.0 is on the way. austerity and austerity 2.0 is on the wa . . . austerity and austerity 2.0 is on the wa . , , ., the way. this is where we will learn where the scrapping _ the way. this is where we will learn where the scrapping of _ the way. this is where we will learn where the scrapping of tax - the way. this is where we will learn where the scrapping of tax for - the way. this is where we will learn where the scrapping of tax for the l where the scrapping of tax for the super—rich, how we will fund it. and asjohn said it is about how it looks at the moment. this trickle—down theory, has it ever been proven? j

it is a justifiable question to ask if kwasi — a justifiable question to ask if kwasi kwarteng goes, she wanted _ only implementing the policies she wanted and she signed off on and she campaign _ wanted and she signed off on and she campaign to be tory leader on. so effectively — campaign to be tory leader on. so effectively by sacking him, she is admitting — effectively by sacking him, she is admitting that she got it wrong as well _ admitting that she got it wrong as well a _ admitting that she got it wrong as well a lot— admitting that she got it wrong as well. a lot of mps are making that point, _ well. a lot of mps are making that point, too — well. a lot of mps are making that point, too. she is desperately trying — point, too. she is desperately trying to— point, too. she is desperately trying to save her skin by throwing kwasi _ trying to save her skin by throwing kwasi kwarteng overboard but all you have done _ kwasi kwarteng overboard but all you have done there is make a powerful enemy. _ have done there is make a powerful enemy. as— have done there is make a powerful ene

the bbc has been told kwasi karteng is no longer chancellor.clear if he's been sacked or if he's resigned. this morning he rushed back to london to see the prime minister, after cutting short a trip to washington. it follows turmoil on the finanancial markets after his mini budget last month. the prime minister is about to hold a news conference, with speculation she'll announce a u—turn on some of the measures in that mini budget. i'm joined by our uk political correspondent rob watson. events have been moving extremely fast today in the uk. bring us up—to—date. to fast today in the uk. bring us un-to-date-_ up-to-date. to call it frantic friday wooden _ up-to-date. to call it frantic friday wooden be _ up-to-date. to call it frantic friday wooden be quite - up-to-date. to call it frantic friday wooden be quite up i up-to-date. to call it frantic| friday wooden be quite up to up-to-date. to call it frantic - friday wooden be quite up to the scale because this is the latest twist in britain's long rolling crisis, a crisis that has been rolling

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

let's look at this headline, kwasi i let's look at this headline, kwasi kwarteng budget party, the financiers to just hours after his so—called mini budget. yes, so kwasi kwarteng delivered his mini budget on the friday and later that evening he went to a reception in chelsea, apparently, at the home of someone who has been a tory donor in the past and there were lots of other people there who were, like the host, hedge front managers, financiers and other shapes or forms, but also people who were from other walks of life, but fundamentally, people who were conservative supporters, and this article is suggesting that of the that evening, and the fact that there was a very enthusiastic response from people at that reception to the mini budget that perhaps it might have encouraged kwasi kwarteng a couple of days later, last sunday, to say that there is more to come, that in fact some of these financiers had perhaps egged him on a little bit. in fact, there is a rather telling a line in this article where a couple of those present had then subsequently talked to contacts of the way they describe

setting aside some personal comments about kwasi _ this.s. setting aside some personal- comments about kwasi kwarteng, you mentioned the word arrogant, it's interesting that the financial times uses the complete opposite word, saying he was actually forced to make a humbling u—turn. ithought that was an interesting word, wasn't it? i that was an interesting word, wasn't it? ., ., ., , , , . it? i thought the tone of his speech today showed _ it? i thought the tone of his speech today showed a _ it? i thought the tone of his speech today showed a degree _ it? i thought the tone of his speech today showed a degree of - today showed a degree of humility. and what is so frustrating and upsetting is that actually, the vast majority of the changes that were announced at the end of last week were things like capping the energy bills for any households. there was a total panic about the scale of the energy price rises, and that sting has been taken out so households at least know there is some cap. yes, the prices are still much higher and there wa

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. ,

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

and to have got through so many, i mean, kwasi _ to have got through so many, i mean, kwasi kwarteng,s— astonishing. in that time, he and liz truss have brought havoc in the markets _ liz truss have brought havoc in the markets and — liz truss have brought havoc in the markets and on people's lives and in business _ markets and on people's lives and in business. maybe if she had done the press _ business. maybe if she had done the press conference a different way, that would have been less chaotic, but it _ that would have been less chaotic, but it was— that would have been less chaotic, but it was the most bizarre press conference — but it was the most bizarre press conference i think i have ever seen. i do think— conference i think i have ever seen. i do think there is a question that needs— i do think there is a question that needs to — i do think there is a question that needs to be asked about whether she shoutdnt— needs to be asked about whether she shouldn't have made the announcement to parliament as it was a change to a mini _ to parliament as it was a change to a mini budget

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

the past three weeks was never known as kwasi—nomics.ics. the chancellor and i are in complete lockstep on this. trying to balance budgets was for treasury bean counters obsessed with abacus economics. growth was the answer. that experiment is now done. there are limits as to how far you can push tax cuts unless you're going to be clear where you are going to cut spending. equally, you can'tjust increase spending without increasing taxes. there are constraints and we have learned the hard way that those constraints can really bite. it's undoubtedly helped liz truss, though, become prime minister. distinguishing herfrom the clearly prescient warnings of her leadership competitor, rishi sunak in debates. rishi is talking about putting up corporation tax this autumn. he is talking about raising taxes at a time when there is a global economic crisis to the same level as france's corporation tax. your own economic adviser has said that your plans would mean that interest rates would have to go up to around 7% so, just think what that means fo

kwarteng. understand why she sacked kwasi kwartenu. ~ , ., i. understand why she sacked kwasi kwartenu~ , ., ~ , kwarteng. why do you think she sacked him? — kwarteng. why do you think she sacked him? well, _ kwarteng. why do you think she sacked him? well, i— kwarteng. why do you think she sacked him? well, i think- kwarteng. why do you think she i sacked him? well, i think brutally and 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

this afternoon the shadow chancellor rachel reeves is going to: kwasi kwarteng, the chancellor, to: kwasidget from last month. i don't think the government is going to do that. but last week at a conference, liz truss said she was angry and determined. she may remain angry, but my goodness, head determination is really going to be tested over the next few weeks. idilt really going to be tested over the next few weeks.— next few weeks. iain watson reporting- — long range attacks by russia on ukraine have continued into a second day, with explosions reported in cities including zaporizhzhia and lviv. president biden and other world leaders are holding a virtual meeting to discuss the widespread russian attacks — with president zelenskyjoining the g7 gathering virtually. the united nations says russia's latest attacks appear to have targeted civilian infrastructure, and could therefore amount to war crimes. hugo bachega has the latest from the ukrainian capital, kyiv. ukrainians went underground this morning. across the country, the air raid sirens went off, a warning of the russian threat c

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

the past three weeks was never known as kwasi—nomics.cellor and i are in complete lockstep on this. trying to balance budgets was for treasury bean counters obsessed with abacus economics. growth was the answer. that experiment is now done. there are limits as to how far you can push tax cuts unless you're going to be clear where you are going to cut spending. equally, you can'tjust increase spending without increasing taxes. there are constraints and we have learned the hard way that those constraints can really bite. it has undoubtedly helped liz truss, though, become prime minister. distinguishing herfrom the clearly prescient warnings of her leadership competitor, rishi sunak in debates. rishi is talking about putting up corporation tax this autumn. he is talking about raising taxes at a time when there is a global economic crisis to the same level as france's corporation tax. your own economic adviser has said that your plans would mean that interest rates would have to go up to around 7% so, just think what that means for all of yo

with that involve sacrificing kwasi kwarteng? l that involve sacrificing kwasi kwarteng? ~ ., kwarteng? i don't think that make the skill and _ kwarteng? i don't think that make the skill and damage _ 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 the

this is the fundamental question that kwasi _ is the fundamental question that kwasi kwarteng is goode based in washington. _ outline. no doubt you are based in washington. you — outline. no doubt you are based in washington, you kind _ outline. no doubt you are based in washington, you kind of— outline. no doubt you are based in washington, you kind of know- outline. no doubt you are based in washington, you kind of know that institutionally how important the imf is with the many in this country don't suspect fully appreciate what it does. i was at an event earlier where rishi sunak and rachel reed were, somebody was saying that neither of them, they thought the imf head overstepped its responsibility when it made its first intervention a couple of weeks ago. probably was on sure ground now. �* ., , �* , ., now. i'm not sure. there's a history. — now. i'm not sure. there's a history. this — now. i'm not sure. there's a history, this is _ now. i'm not sure. there's a history, this is not _ now. i'm not sure. there's a history, this is not the - now. i'm not sure. there's a history, th

kwasi and want reassurance.e. they - people are looking to liz and kwasi and want reassurance. they want l people are looking to liz and kwasii and want reassurance. they want to think— and want reassurance. they want to think this _ and want reassurance. they want to think this has — and want reassurance. they want to think this has been _ and want reassurance. they want to think this has been well _ and want reassurance. they want to think this has been well thought - think this has been well thought through. — think this has been well thought through. that _ think this has been well thought through, that it— think this has been well thought through, that it will— think this has been well thought through, that it will work, - think this has been well thought through, that it will work, that i think this has been well thought| through, that it will work, that it will command _ through, that it will work, that it will command the _ through, that it will work, that it will command the confidence - through, that i

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

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

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

i think in reality before kwasi kwarteng — up.eng comes and does his next financial statement, the last line, the many— financial statement, the last line, 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 l

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

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

there was though, a defiance from kwasi _ package.ge. there was though, a i defiance from kwasi kwarteng, a determination not to be derailed from his main mission. igrate determination not to be derailed from his main mission. we couldn't siml do from his main mission. we couldn't simply do nothing. _ from his main mission. we couldn't simply do nothing. we _ from his main mission. we couldn't simply do nothing. we can't - from his main mission. we couldn't simply do nothing. we can't sit - from his main mission. we couldn't simply do nothing. we can't sit idlyj simply do nothing. we can't sit idly ljy, simply do nothing. we can't sit idly by, what britain needs more than ever is economic growth. and a government wholly committed to economic growth. with grit, with drive and with determination we can meet the challenges of this new era. thank you. applause. thumbs up from a colleague, smiles of relief, a slow walk after a long day. which will leave an indelible mark on this government. chris mason, bbc news, in birmingham. chris mason

kwasi kwarten: scrapping the 45p tax rate. kwasi kwarteng summed _ scrapping the 45p tax rate.e 45p tax rate. kwasi kwarteng summed it up - scrapping the 45p tax rate. kwasi kwarteng summed it up at - scrapping the 45p tax rate. kwasi kwarteng summed it up at the i kwarteng summed it up at the beginning of his speech. he worked on and said what a day and it 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

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

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

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

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 no longer the chancellor.times of london , all saying the same thing, this chancellor is out. >> is this how they want to message it? that they want to get some communication to markets, to population? we want someone who has done this before. jonathan: guy said we want an accountant and we were reminded that liz truss is an accountant. i want to run through the bond market price. two's, tens, 30's. the two year, four point 42, coming about four basis points. sonali basak, morgan stanley out right now. sonali: we are seeing equities come in, almost a little bit below expectations. more than what you saw. keeping their lead in that business. you don't see this much from morgan stanley, they did miss slightly on the top line on total revenue from the bank. trading business does not help. the question here is how they will be marking these losses. right through the statement to try to give you a better sense of what you can expect from those provisioning issues you are seeing when it comes to the investment banki

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

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

kwasi kwarteng becomes britain's second shortest—serving chancellor after being sacked by the prime ministerz truss announces another major u—turn on her economic plans — a rise in corporation tax will now go ahead. but 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 of our fiscal discipline. former health secretary and leadership candidate, jeremy hunt, is now tasked with bringing the financial turmoil under control. and i'm lukwesa burak in the studio. also in the programme... all chanting. iran's supreme leader warns no—one can overturn the islamic republic, as protesters again fill the streets of zahedan. communities in three australian states have been ordered to evacuate as torrential rain brings major flooding. and the actor robbie coltrane, who played hagrid in the harry potter films, has died aged 72. welcome to downing street, where it's been a day of high drama. less than 2a hours after kwasi kwarteng insisted he was 100% safe

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

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

for now, we wait for kwasi kwarteng's speech. i am sure investors will be on every syllable. we will get you back in the next hour to preview that. expecting that to happen around 11:15. great work from there, lizzie borden. back to the markets here, opec-plus considering cutting oil output by more than one million barrels a day when it meets in person on wednesday for the first time in two years. oil is climbing. this is bloomberg. ♪ >> this is bloomberg markets. coming up, this is bloomberg. keeping you up to date with news from around the world, with the first word. it is a humiliating reversal for liz truss, having to cut plans for the highest earnest 10 days after it was announced. it was her attempt to fend off a rebellion in her own conservative party. kwasi kwarteng says the plan had become a distraction. he wrote, we get it, we have listened. the u.s. supreme court will hear a landmark challenge to the clean water act. a couple is suing the epa hoping to limit its authority in protecting the waterways and wetlands. the plaintiffs are backed by a long list of industry

it follows her earlier decision to sack her chancellor, kwasi kwarteng.ty said the government was "in meltdown" and it was time for a general election.

the uk chancellor, kwasi kwarteng, has told the conservative party conference in birmingham that he'sll determined to deliver his economic plan hours after performing a major u—turn on a flagship policy. he's abandoned a proposal to scrap the top income tax band, following widespread criticism, turmoil on the financial markets and a dramatic drop in the value of the pound. the chancellor acknowledged his plans caused, what he called, "a little turbulence" in the economy. he's now also expected to bring forward his next financial statement from the 23rd of november to this month. here's our political editor, chris mason. first thing this morning, things are moving. and fast. the planned tax cut for the highest paid is being junked. the government has blinked. it was an ambitious plan, and we talked to lots of people up and down the country. i saw the reaction. we considered what to do with it, and i felt and the prime minister felt that this was just a distraction on what is a very strong package. translation, the idea tanked so have conservative poll ratings and there was little chanc

and we heard of kwasi kwarteng's sacking.for what is been the business and economics unit and now the money, technology and data department but it's editor has spent time and thank you for coming on news watch. and being sexist chancellor and already some viewers have said that they feel the need that the media has contributed to his departure. imilieu contributed to his departure. when ou have a contributed to his departure. when you have a story — contributed to his departure. when you have a story which _ contributed to his departure. 71ng you have a story which started contributed to his departure. wiefi you have a story which started with the pound being at a record low against the dollar event that spike 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 the media contributing to that. it's been very volatile time for a couple of weeks now and not all the data, eco

the prime minister has told us he his not accepting any of the things that kwasi kwarteng wanted to do: currently after, the prime minister, who is facing pressure to resigness than two months after replacing boris johnson, tweeted that the british people want stability, which is why we are addressing the challenges he faced worsening economic conditions. we have taken action to chart a new course of growth that delivers for people along the u.k., but this is out we have heard from her so far today. penny martin, who has been defending the stress, -- liz truss, explain why the prime minister had not appeared herself. >> with apologies to the leader of the opposition in theouse, -- is detained. and they will have to make do. >> i want an unfair is to live in the private minister is not here. maryam: liz truss did turn up but left without speaking. the leader of the opposition had plenty to say. >> there is long-term damage. once you hav crashed a car at 100 miles per hour, you have damaged it for good and a much more on your turns or years. maryam: jeremy hunt helps today's announcent w

where does this leave liz truss and kwasi | does this leave liz truss and kwasi kwarteng?arten. ? . . ., , . kwarteng? the calculation they have made that it — kwarteng? the calculation they have made that it is _ kwarteng? the calculation they have made that it is better— 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 a

this is kwasi kwarteng and liz truss— reform.a grip on the public financing — they can get a grip on the public financing. that they seem unable to prevent _ financing. that they seem unable to prevent this mass sell—off in government bonds. they have not been able to— government bonds. they have not been able to get— government bonds. they have not been able to get a _ government bonds. they have not been able to get a grip on that. financiat— able to get a grip on that. financial analyst in the financial times are — financial analyst in the financial times are turned by how precarious this situation is. the former minister— this situation is. the former minister says the sums simply don't add uo _ minister says the sums simply don't add uo and — minister says the sums simply don't add up. and there's very little confidence amongst mps, the public, and the _ confidence amongst mps, the public, and the markets in their economic capabilities, the year ability to be fiscally responsible in any way. the two specific — fiscally respo

that is now what kwasi kwarteng has to establish, has to sort out and quickly. why? the bank of england which was helping support with emergency funding those markets of government borrowing, that funding has been pulled at the end of today. so, really, they 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 or are they going to u—turn on or are they going to face the markets next week? these are very big stakes. a dramatic return to london for the chancellor. they certainly are. to the united states over the congressional committee investigating the storming of the capitol building last year has voted unanimously to subpoena the former president donald trump. the boat came at the end of a session in which the committee presented taped evidence from two of donald trump's closest supporters, steve bannon and roger stone, who were openly talking about stealing the election before the vote had even been out north american editor sara smith has this report. as a violent mob stormed the capitol, trying to s