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‘ Ace News Room U.K Daily News Desk ‘

This is our daily post that is shared across Twitter & Telegram and published first on here with Kindness & Love XX on peace-truth.com/

#AceNewsRoom With ‘Kindness & Wisdom’ Sept, 25, 2022 @acebreakingnews

Ace News Room Cutting Floor 25/09/2022

Follow Our Breaking & Daily News Here As It Happens:

#AceDailyNews says here are today’s Newspaper Headlines: It is all about ‘ Mortgage Lenders ‘ pulling out of their products offered to borrowers as ‘ Bond Market ‘ that provides funding ‘ Panic ‘ at Governments Fiscal Statement and ‘ Borrowing to Fund Tax Cuts ‘ add to that ‘ Speculators Playing With Pound Falling ‘ – Secondly, Kier Starmer – Opposition Gives Speech when They Win The Election – Promising overhaul but pass experience is that ‘ Promises Are Like Pie-Crusts So Easily Broken – So its Wait & See Time – Kindness & Love XX says 🙏🙏’s to God Amen

The headline in the Financial Times reads: "Bank of England and Treasury fail to calm market nerves over UK finances"
Tuesday’s front pages are dominated by the turmoil in the markets on Monday, which saw the pound touch an all-time low against the dollar. The Financial Times says pledges by the Bank of England and the Treasury that they would work to bring both inflation and government debt under control failed to stop heavy sell-offs of sterling by investors. The paper quotes the chief economist of the Bank of Singapore warning that the UK could enter a spiral usually seen in emerging markets where “policymakers struggle to reassert credibility”.
The headline in the i reads: "New mortgages blocked amid UK market turmoil"
The i reports on the decision by several mortgage lenders – including Halifax, Virgin Money, and Skipton – to temporarily stop some or all new loans, and says others are expected to follow suit. The front page features a picture of Prime Minister Liz Truss and Chancellor Kwasi Kwarteng sliced by a graph showing the continual fall in the value of the pound over recent months.
The headline in the Telegraph reads: "Spooked lenders ditch new mortgages in pound chaos"
The withdrawal of mortgages came in anticipation of a rise in interest rates to as much as 6% by midway through next year, the Telegraph reports. The paper says such a rise would add £800 to the monthly cost of a typical mortgage.
The headline in the Metro reads: "The pound Kwar-tanks".
“The pound Kwar-tanks,” reads the headline in the Metro. The paper says it wasn’t just the dollar that the pound fell against on Monday, but also the euro, the Japanese yen, and even the Russian ruble.
The headline in the Times reads: "Bank vows to step in after day of turmoil"
The Times reports on concern among Conservative ministers about the new government’s economic strategy, and quotes one warning that the party faces a “world of pain” if voters blame it for soaring mortgage costs. The paper also carries the results of a YouGov poll giving Labour a 17-point lead, its biggest in more than two decades.
The headline in the Guardian reads: "Sterling crisis deepens as Truss's strategy unravels"
Monday’s turmoil shows the markets believe that “talking tough will not be enough” and that borrowing costs will need to “rise sharply to reverse sterling’s slide”, according to the Guardian. The paper also carries a preview of Sir Keir Starmer’s keynote speech to the Labour conference on Tuesday, reporting that he will say Labour is now the “party of the centre ground”.
The headline in the Mirror reads: "Tories' economic disaster: Out of control"
The Mirror says the Tories are “out of control” and that “millions of households face further financial misery” following the crisis.
The headline in the Star reads: "Honey, I shrunk the quids"
“Honey, I shrunk the quids” is the headline in the Star. The front page brands Mr Kwarteng a “fiscal clown” and says that, just three weeks into his time as chancellor, he’s “buggered up the economy”.
The headline in the Express reads: "Don't panic! We have got a plan to cut debt"
The Express urges its readers not to panic and says the chancellor “shrugged off yesterday’s financial market jitters with a vow to lay out his plan to bring down debt”.
The headline in the Mail reads: "Fury at the city slickers betting against UK PLC"
Speculators who were able to profit from the turbulence by short selling the pound have “sparked fury”, the Mail reports. The paper quotes senior Tories criticising traders for “trying to make money out of bad news” and warning against “talking the pound down”.
The headline in the Sun reads: "Love don't Lviv here anymore"
And the Sun leads with the latest twist in the story of a Bradford man who left his partner for a Ukrainian refugee they had taken in. The paper says Tony Garnett has now split up with Sofiia Karkadym but that ex Lorna, with whom he has two children, has told friends she “wouldn’t have him back in a million years”.

Tuesday’s front pages are dominated by the turmoil in the markets on Monday, which saw the pound touch an all-time low against the dollar. 

“Out of Control” is the headline in the Mirror, next to a picture of Liz Truss and Kwasi Kwarteng. The paper says the chancellor’s tax cuts plunged the markets into chaos and left millions of households facing further financial misery. 

The Telegraph has a front page picture of Mr Kwarteng and the Bank of England governor, Andrew Bailey, with a graph between them showing the fall in the value of the pound yesterday. The paper says “spooked lenders” are ditching new mortgages. One Conservative MP tells the paper his backbench colleagues are “petrified” at the prospect of interest rate rises. 

Prime Minister Liz Truss and Chancellor Kwasi Kwarteng seen wearing hard hats and high vis jackets during a visit to a factory
Prime Minister Liz Truss and Chancellor Kwasi Kwarteng features on a number of front pages after markets reacted to last week’s tax cuts

The i reports on the decision by several mortgage lenders – including Halifax, Virgin Money, and Skipton – to temporarily stop some or all new loans, and says others are expected to follow suit. It says there are predictions of 5% deals by next week. 

The Times highlights a warning from one Conservative minister that the party faces a “world of pain” if voters blame them for soaring mortgage costs. The paper also carries the results of a YouGov poll giving Labour a 17-point lead, its biggest in more than two decades. In an editorial it saysthe government and the Bank of England face an urgent challenge to restore confidence in British economic policymaking.

Under the headline, “City slickers betting against UK PLC,” the Mail says speculators profiting from the plunging pound “sparked fury”. The paper quotes senior Tories criticising traders for “trying to make money out of bad news” and warning against “talking the pound down”. 

The Guardian says the government is struggling to prevent a full-scale loss of financial market confidence in its economic strategy. It says markets now believe that “talking tough will not be enough and that official borrowing costs will need to rise sharply to reverse sterling’s slide – a squeeze that would wipe out any boost from the chancellor’s growth push and lead to soaring mortgage rates for millions of homeowners”. In an editorial, it says the mess was “predictable” and largely down to Mr Kwarteng’s refusal to explain what he was doing. 

HM Queen Elizabeth II black line
#AceNewsDesk report ………..Published: Sept.25: 2022:

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