kwarteng, which is i'm _ has written to kwasi kwarteng, which is i'm very— has written to kwasi kwarteng, which is i'm very sorry to lose you from the government, 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 o

kwarteng is out _ plans tax—cut while kwasi kwarteng is out of _ plans tax—cut while kwasi kwarteng is out of the country. it's not credible to say that she is locked in talks — credible to say 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 i

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. her whole pitch to _ truss's election campaign as leader. her whole pitch to the _ truss's election campa

i think kwasi kwarteng _ not the rest of it. i think kwasi kwarteng gave _ not the rest of it. i think kwasi kwarteng gave a _ not the rest of it. i think kwasi kwarteng gave a very - not the rest of it. i think kwasi kwarteng gave a very solid - kwarteng gave a very solid performance. if it was to channel one catchphrase, it would be corporal— one catchphrase, it would be corporaljones, don't panic. he was trying _ corporaljones, don't panic. he was trying to— corporaljones, don't panic. he was trying to calm everything down and say that _ trying to calm everything down and say that we are going to be fiscally responsible, we are going to do the sums, _ responsible, we are going to do the sums, and — responsible, we are going to do the sums, and what happened 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. t

kwarteng — keir starmer as he was —— kwasi kwarteng as— keir starmer as he was —— kwasi kwarteng as he was quaffing champagne hedge fund managers. the prime champagne hedge fund managers. iie: prime minister champagne hedge fund managers. tie: prime minister in champagne hedge fund managers. ti9 prime minister in the 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 l

— kwasi kwarteng. why do you think she sacked him? i— kwasi kwarteng. why 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 strok

kwasi kwarteng is no longer chancellor of the exchequer, the bbc has learned. it 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 tha

setting aside some personal| comments about kwasi kwarteng, this. 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. kwasi kwarteng's early 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

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 financ

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 enemy, as much as anything. this displays _ enemy, as much as anything. this displays weakness, rather than strength — displays weakness, rather than strength. but displays weakness, rather than strenuth. �* ., , displays weakness, rather than strenuth. �* . , , displays weakness, rather than strenuth. �* ., , , strength. but ultimately, she has delivered on _ strength. but ultimately, she has delivered on what _ strength. but ultimately, she has delivered on what she _ strength. but ultimately, she has delivered on what she was - strength. but ultimately, she has. delivered on what she was promising during the leadership contest, hasn't she?— during the leadership contest, hasn't she? ., , �* hasn't she? no, she hasn't. her whole leadership _ hasn't she? no, she hasn't. her whole leadership campaign - hasn't she? no, she hasn't. her whole leadership campaign was| whole l

so i kind of feel that if liz truss and kwasi kwarteng _ feel that if liz truss and kwasi kwarteng fall because of their repeated u—turns and the fact that 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

let's look at this headline, kwasi i let's look at this headline, kwasi kwarteng budget party, the financiers who may have cashed in, this is about a gathering that apparently he went 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 tho

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 position was safe. so he is obviously very unhappy and if he is now turning round and saying she only has a few weeks, which i think is optimistic, the fact he is saying it tells its own story, he thinks liz truss is running out of time when she cannot even rely on someone, albeit she hasjust when she cannot even rely on someone, albeit she has just sacked him, was a close supporter and ally. so, yeah, it is all crumbling around her ears. if the day was about trying to be decisive and strong leader, taking the difficult decisions, it really hasn't worked out way. as i say, the day is ending

they are also saying liz truss has confidence in her chancellor kwasi kwarteng. but although that is what they are saying, questions have been 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 s

kwasi kwarteng says that tax cuts _ fat to trim. kwasi kwarteng says that 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 w

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

these two, kwasi kwarteng and liz words. these two, kwasi kwarteng and liz truss— words. these two, kwasi kwarteng and liz truss looking confident but increasingly isolated. we had liz truss— 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

with that involve sacrificing kwasi kwarteng? l that involve sacrificing kwasi kwarteng?— that involve sacrificing kwasi kwartenu? ~ ., 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, literal

liz truss i kwasi kwarteng _ government. liz truss i kwasi kwarteng did _ government. liz truss i kwasi kwarteng did push _ government. liz truss i kwasi kwarteng did push forward i government. liz truss i kwasi i kwarteng did push forward with government. liz truss i kwasi - kwarteng did push forward with the same policies and now she say it is more his than hers but she has now jeremy hunt he sided with rishi sunak. does it show at least she is beginning to show signs of being prepared to listen to other voices? well, jeremy hunt when he ran to be leader of the conservative party proposed even bigger cuts to corporation tax than what the prime minister and kwasi kwarteng brought in, so the idea that somehow this is a break with a failed trickle—down economics we have seen from the conservatives in recent weeks is for the birds. jeremy hunt, like kwasi kwarteng and liz truss, 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 hav

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 markets. our political editor, chris mason, reports. turning up for another u—turn, the prime minister invited reporters to downing street this afternoon and scrapped one of her key policies that she's championed for months. 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. i have therefore decided to keep the increase in corporation tax that was planned by the previous government. this will raise £18 billion per year. so, a tax policy ditched, and her chancellor too. and her chancellor, too. i met the former chancellor earlier today. i was incredibly sorry to lose him. he is a great friend. and he shares my vision to set this country on the path to growth. and he shares my v

you shadowed i think kwasi kwarteng in his _ i think kwasi kwarteng in his previousjob as business i think kwasi kwarteng in his previous job as business secretary, what 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 b

i think in reality before kwasi kwarteng — up. i think in reality before kwasi kwarteng comes and does his next financial— kwarteng 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

on friday, we heard of kwasi kwarteng's sacking. well, it is 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 a

this will be the time for kwasi kwarteng to lay out his agenda. yesterday 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 d

called back from washington — only to be fired — the now former chancellor kwasi kwarteng — in office for less than six weeks. his replacement, the former health secretary, jeremy hunt. he is the fourth uk chancellor since the summer. ~ , ., , ., summer. the prime minister has now been two planks _ summer. the prime minister has now been two planks of— summer. the prime minister has now been two planks of her— summer. the prime minister has now been two planks of her programme i summer. the prime minister has now| been two planks of her programme for government and her chancellor. the question tonight is can she survive? after a day of dizzying developments in westminster, we'll be looking at where this leaves the government's economic plan. also on the programme... the faces of some of the children and young people who've been killed in the protests sweeping iran — we have a special report. the rugby world cup in england kicks off tomorrow — with the men's, women's and wheelchair tournaments taking place at the same time. sorry, don't wish to be rude but i'm in no fit state t

that is now what kwasi kwarteng has to establish. has to sort out quickly what, why? because the bank of england which is helping support funding, those markets 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 hot

under intense scrutiny, kwasi kwarteng abandons his policy of cutting income tax for the highest earners. the 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 villag

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

i don't manage kwasi kwarteng's diary, believe me. fist don't manage kwasi kwarteng's diary, believe me. fit a don't manage kwasi kwarteng's diary, believe me. �* ., don't manage kwasi kwarteng's diary, believe me. . . ., , believe me. at a time when many teo . le believe me. at a time when many people are _ believe me. at a time when many people are struggling, _ 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?

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 credibi

everyone is assembling and kwasi kwarteng will be going there as well— kwasi kwarteng will be going there as well to — kwasi kwarteng will be going there as well to the imf meeting. the fact that the _ as well to the 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

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 conservativ

kwasi kwarteng summed it _ scrapping the 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 from the audie

kwasi kwarteng becomes britain's second shortest—serving chancellor after being sacked by the prime minister. liz 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

as follows her earlier decision to sack her chancellor kwasi kwarteng. he was returned by washington to be replaced by the more centristjeremy hunt. britain's fourth finance minister in a year stopping the labor party says the government is in meltdown and it is time for a general election. and around's supreme leader ayatollah

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 vi

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

the prime minister has told us he his not accepting any of the things that kwasi kwarteng wanted to do. maryam: 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 anno

and we heard of kwasi kwarteng's sacking. well, it is been a busy week 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 o

for now, we wait for kwasi kwarteng's speech. i am sure investors will be on every syllable. alix: 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

it follows her earlier decision to sack her chancellor, kwasi kwarteng. he was recalled from washington to be replaced by the more centristjeremy hunt, britain's fourth finance minister in a year. the labor party said the government was "in meltdown" and it was time for a general election.

even if she cuts kwasi kwarteng out -- out. jonathan: this bond market is back in a big way. we have heard it from a few guests including mohamed el-erian on this program and in the bloomberg business:. vigilantes are back and the vigilantes claimed a couple names already. lisa: and who is next? at one point will you see this imposed restriction in terms of how much debt, number of different nations sell. this comes a time when you have a lot of nations that want to plug fiscal gaps by selling that. i'm thinking of germany in particular so this is a real tension especially when some of these expenditures are considered necessary. jonathan: we have had the reports and we went the news now, don't we? we have had the reports from the times this morning that the chancellor will get sacked, now we need the news. i said to lizzie, i want to understand how much of that budget gets walked back. is it just one component of it, the corporation tax, or is it everything? lisa: so another words, if they don't walk back everything, and the b

the uk chancellor, kwasi kwarteng, has told the conservative party conference in birmingham that he's still 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

kwarteng. understand why she sacked kwasi kwartenu. ~ , ., i. understand why she sacked kwasi kwartenu. ~ , ., ,, ~' 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

this is kwasi kwarteng and liz truss— reform. this is kwasi kwarteng and liz truss desperate to prove that they can — liz truss desperate to prove that they can get 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,

that is now what kwasi kwarteng has to establish, has to sort out and quickly. why? because 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 capito

kwasi kwarteng is now expected to bring forward publication this is bbc news, the headlines... of his medium 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 conserva

kwasi kwarteng is calling bank duties to discuss _ 6%." kwasi kwarteng is calling bank duties to discuss this _ 6%." kwasi kwarteng is calling bank duties to discuss this to _ 6%." kwasi kwarteng is calling bank duties to discuss this to the - 6%." kwasi kwarteng is calling bank duties to discuss this to the sea - duties to discuss this to the sea with their plans are. but it's around 6% now for a two year mortgage deal — obviously that's far, far higher than we've been use to in recent times as a nation. i think it's interesting because ultimately the party has always been a party of home ownership. if the cost of that homeownership suddenly starts rocketing, then you're breaking that link, and that's a huge issue for the government. what they say is actually interest rates are going up around the world, this is notjust a uk problem. i think that's an argument they want to make, but the issue is that in the uk, they've gone up faster and higher because of what's happened during that many budget. and that's the bit they need to address,