SOCAR completes acquisition of Italy’s Italiana Petroli
SOCAR has completed the acquisition of a 99.82% stake in Italiana Petroli (IP) from API Holding after receiving all r...
British Prime Minister Keir Starmer defended Deputy Prime Minister Angela Rayner and his government’s handling of borrowing costs during a heated parliament session on Wednesday, 3 September, facing sharp attacks from opposition leader Kemi Badenoch.
The debate at Prime Minister’s Questions came after Rayner admitted underpaying property tax on a house she purchased in southern England and referred herself to the government’s ethics adviser. Badenoch seized on the case, accusing Starmer of double standards and questioning why his deputy remained in office.
“I also welcome the fact that the Deputy Prime Minister has referred herself to the ethics adviser. She has admitted she underpaid tax. So why is she still in office? But there is not just a crisis at the very top of his cabinet. Mr Speaker, there is a crisis brewing for the whole country. When was the last time the cost of government borrowing was so high?” Badenoch asked.
Starmer responded by defending Rayner’s decision to disclose personal details of her case, including matters related to her family.
“In relation to the Deputy Prime Minister, she has explained her personal circumstances in detail. She’s gone over and above in setting out the details, including, Mr Speaker, yesterday afternoon asking a court to lift the confidentiality order in relation to her own son,” he said.
Borrowing costs have climbed to their highest level since 1998, outpacing those of other G7 economies. Inflation remains elevated, limiting the Bank of England’s ability to cut interest rates.
Pressed on the issue, Starmer said the government was committed to reducing debt through strict fiscal rules.
“Mr Speaker, on the question of borrowing costs, they have risen across the world as the leader of the opposition well knows, we are driving them down by getting debt down. That is hardwired into our fiscal rules. Those fiscal rules are non-negotiable,” he told MPs.
The prime minister also launched a stinging attack on Reform UK leader Nigel Farage, who has travelled to Washington to testify before a U.S. House committee.
“He’s flown to America to bad mouth and talk down our country. And worse than that Mr Speaker … he’s gone there to lobby the Americans to impose sanctions on this country, which will harm working people. You cannot get more unpatriotic than that. It’s a disgrace,” Starmer said.
Government borrowing costs are now the highest in the Group of Seven economies and at their peak since 1998.
Deputy Prime Minister Angela Rayner has referred herself to the government’s ethics adviser after admitting she underpaid property tax.
The U.S military said it carried out retaliatory strikes on Iran on Thursday (7 May). Meanwhile, Iran's Joint Military Command accused the U.S. of breaching the ceasefire, by striking an Iranian oil tanker in the Strait of Hormuz and launching attacks on several Iranian cities.
The U.S. and Iran exchanged fire in and around the Strait of Hormuz, though both sides signalled they did not want escalation. The clashes come as Washington awaits Tehran’s response to a proposed deal to end the war while leaving key disputes, such as Iran’s nuclear programme, unresolved for now.
Singapore has isolated and is testing two of its residents who travelled aboard a cruise ship linked to a deadly hantavirus outbreak, the Communicable Diseases Agency (CDA) said on Thursday.
Efforts to end the U.S.-Iran war appeared to stall as the two sides exchanged fire in and around the Strait of Hormuz. A reported CIA assessment suggested Tehran could withstand a U.S. naval blockade for months despite mounting sanctions and renewed Gulf attacks.
Ukraine’s military said it struck a Russian Karakurt-class small missile carrier in the Caspian Sea near Russia’s Dagestan region on Thursday. The extent of the damage is still being assessed, according to Kyiv.
Somalia is facing a severe malnutrition crisis and urgently needs additional humanitarian funding to prevent conditions deteriorating further, the World Food Programme has warned.
British Prime Minister Keir Starmer vowed to carry on as leader on Friday (8 May) after his ruling Labour Party suffered heavy losses in local elections. Labour lost hundreds of councillors across the country, as some figures in the party said he should stand down.
Indonesian rescue teams have located two Singaporeans who went missing after Mount Dukono erupted on Friday (8 May) on the island of Halmahera, though authorities say it remains unclear whether they are alive.
Health authorities are monitoring a widening hantavirus alert after new suspected cases emerged in Spain and on a remote South Atlantic island, days after an outbreak on a cruise ship left three people dead and several others infected.
The U.S. Defense Department has released dozens of previously classified files on unidentified anomalous phenomena (UAP) on Friday (8 May), following an order from President Donald Trump. U.S. officials described as a push for “unprecedented transparency”.
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