Author: SKYNEWS

The economy is stagnating and job losses are mounting. Now is the time to cut interest rates again. That was the view of the Bank of England’s nine-member rate setting committee on Thursday. Well, at least five of them.The other four presented us with a different view: Inflation is above target and climbing – this is no time to cut interest rates. Who is right? All of them and none of them.Central bankers have been backed into a corner by the current economic climate and navigating a path out is challenging.The difficulty in charting that route was on display as…

Oasis provided the most “ground-shaking” performance at Edinburgh’s Murrayfield Stadium when they last performed there in 2009, according to analysis of seismic data.The Gallagher brothers’ last Scottish gig has topped the chart for the most powerful seismic concert at the venue in the past 20 years, the British Geological Survey (BGS) said. Oasis’ June 2009 gig beat the Red Hot Chili Peppers in June 2004, Kings of Leon in June 2011 and Taylor Swift in June 2024 – when measuring the peak earthshaking power of each event. Image: Noel Gallagher. Pic: PA The measurements were taken from a seismic monitoring…

Donald Trump has announced 100% tariffs on computer chips and semiconductors made outside the US.The move threatens to increase the cost of electronics made outside the US, which covers everything from TVs and video game consoles to kitchen appliances and cars. No date has been set for when they might come into force. A previously announced hike of tariff rates on a range of global trading partners, ranging from 10% up to beyond 40%, comes into effect today. The announcement of tech tariffs came as Apple chief executive Tim Cook said his company would invest an extra $100bn (£74.9bn) in…

Sean “Diddy” Combs has been in contact with Donald Trump about a pardon, a source close to the rapper’s legal team has told Sky News’ US partner network NBC News.A White House spokesperson said it “will not comment on the existence or nonexistence of any clemency request”. On Tuesday, the rapper was denied bail ahead of his sentencing in October, when he could face up to 20 years in prison after he was convicted of prostitution-related offences.The sentence will likely be much shorter than that, however.In July, he was found guilty of two counts of transportation for prostitution – but…

Rachel Reeves will need to find more than £40bn of tax rises or spending cuts in the autumn budget to meet her fiscal rules, a leading research institute has warned.The National Institute of Economic and Social Research (NIESR) said the government would miss its rule, which stipulates that day to day spending should be covered by tax receipts, by £41.2bn in the fiscal year 2029-30. Politics Hub: Follow latest updatesIn its latest UK economic outlook, NIESR said: “This shortfall significantly increases the pressure on the chancellor to introduce substantial tax rises in the upcoming autumn budget if she hopes to…

America’s vaccine-sceptic health secretary has announced $500m (£375.8m) worth of cuts to their development in the country.The US health department is cancelling contracts and pulling funding for jabs to fight viruses like COVID-19 and the flu, it was announced on Tuesday. Robert F Kennedy Jr, known as RFK Jr, said 22 projects developing mRNA vaccines will be halted. It is the latest in a series of decisions to reduce US vaccine programmes.Read more: Who is Donald Trump’s health chief?The health secretary has fired the panel that makes vaccine recommendations, reduced recommendations for COVID-19 shots, and refused to endorse vaccines despite…

Sean “Diddy” Combs has been denied bail ahead of his sentencing on prostitution-related charges.Judge Arun Subramanian said the hip-hop mogul had failed to show sufficient evidence he is not a flight risk and also cited admissions of previous violence made during his trial. Combs, 55, has been in prison since his arrest in September last year.During a two-month trial, jurors heard allegations that he had coerced former girlfriends, including singer and model Cassie Ventura, into having drug-fuelled sex marathons with male sex workers, while he watched and filmed them. Image: Diddy fell to his knees after the verdict was delivered…

BP has signalled an accelerated effort to bring down costs ahead, refusing to rule out further job losses as artificial intelligence (AI) technology helps drive efficiencies.The company, which revealed in January that it was to axe almost 8,000 workers and contractors globally as part of a cost-cutting plan, said alongside its second quarter results that it was to review its portfolio of businesses and examine its cost base again. Money latest: Aldi ‘loses cheapest supermarket title’ BP is under pressure to grow profitability and investor value through a shareholder-driven refocus on oil and gas revenues.Just 24 hours earlier, the company…

Thousands of severely obese patients are facing severely delayed treatment with what’s been called the ‘King Kong’ of weight loss jabs – because the NHS rollout has been mismanaged and underfunded, according to Sky News research.Mounjaro was supposed to be available through GP surgeries and other community services from 23 June under an agreement between NHS England and the National Institute for Health and Care Excellence (NICE), the body that provides guidance on the use of new drugs. But Freedom of Information requests by Sky News reveal a postcode lottery, with only eight of 42 NHS Integrated Care Boards (ICBs)…

A Jewish comedian who says her original comedy slot at Edinburgh Fringe was cancelled by the venue has told Sky News she will now be able to perform at the event after being offered new locations.Rachel Creeger: Ultimate Jewish Mother will take place across two different venues in the city – The Big Tent at Hoots @ Nicolson Square Gardens, and Dirty Martini at Le Monde. Last month, Creeger said her original venue, Whistle Binkies, called her and fellow Jewish comedian Philip Simon to cancel their slots.In a new statement announcing the move, she said it would be “a few…