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Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

By assassinating Hizbollah leader Hassan Nasrallah, Israel has dealt a grievous blow to one of its most powerful foes. Over three decades, Nasrallah transformed the group, with Iranian backing, into the Middle East’s most heavily armed non-state actor and the dominant political force in Lebanon. His killing has severely wounded the movement, while underlining Israel’s military superiority over Iran’s so-called axis of resistance.

Many other senior Hizbollah figures have been killed in Israeli air strikes. But the relentless bombardment has wrought devastation on Lebanon, spreading fear and panic across the nation. More than 1,000 people have been killed in the past two weeks, and up to 1mn forced from their homes. As the bombs rain down, they fear what comes next. Many in Lebanon opposed Nasrallah and blamed Hizbollah for the crisis-ridden country’s ills. But Hizbollah also represents a large swath of Shia society in a fragile nation where Muslim and Christian sects coexist uneasily. Under Nasrallah, the movement was cohesive and disciplined. In his absence, many worry it might fragment or become more extreme.

Israelis, too, should be wary. They celebrated the death of their foe, but having a failed state on their northern border, or a more extremist enemy bent on revenge, will not serve their security interests. Hizbollah has been battered, but it will not disappear. History has shown that when one militant leader is killed, another steps into the breach, often more radical than the former.

As Israel prepares to mark the grim anniversary of Hamas’s horrific October 7 attack, which killed 1,200 people and ignited the year of conflict, Israeli Prime Minister Benjamin Netanyahu should take his wins and chart a new course. He should embrace the diplomatic off-ramps that have been available for months to end the war in Gaza, secure the release of hostages, and halt the conflict with Hizbollah.

After pummelling Gaza for 12 months, Israel has killed many of Hamas’s senior leaders and severely depleted its military capacity. The offensive has left Gaza in ruins, and more than 41,000 Gazans have been killed, according to Palestinian officials. Hamas will not be able to control Gaza or repeat the atrocities of a year ago. On the northern front, Netanyahu’s stated aim is to ensure the safe return of 60,000 Israelis displaced by Hizbollah’s rocket fire, which began a day after the October 7 attack. But that will not happen as long as the conflict continues.

Worryingly, however, the chances of Netanyahu and his far-right government banking their military gains and choosing the path of diplomacy over yet more war appear as remote as ever. Since killing Nasrallah on Friday, Israel has continued to pound Lebanon, launched limited ground incursions across the border in a potential prelude to a land invasion, and struck Houthi rebels in Yemen. Netanyahu has also stepped up his belligerent rhetoric against Iran.

The US and Israel’s other allies preach de-escalation but are unable or unwilling to rein in Netanyahu, whose political interests are served by keeping Israel locked in conflict. The Biden administration looks ever more impotent as the US election nears, despite the risk that Netanyahu could seek to drag Washington into a war with Iran.

Israel’s desire to restore its deterrent is one thing. But careering headlong into forever wars, giddy on its tactical success, with no clear strategy or end game, is not a recipe for long-term security and stability, for Israel or the region. The Middle East has witnessed its darkest year in decades. The killing and destruction must stop.

DO you need to stage a saving this week?

Now is the perfect time to book your next theatre trip, with new West End show tickets released for the winter season.

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Use these tricks to plan your visit.

EARLY BIRD: Many new shows offer discounted rates for early performances.

For instance, Titanique, a musical based on the Titanic film, starts in December with tickets from £16 for initial performances, rising to around £31 in January.

GO OFF-PEAK: Booking Monday or Tuesday shows often means cheaper tickets since most tourists visit on weekends.

Matinees outside school holidays also offer lower prices — check if your chosen production has this option.

DISCOUNT DEALS: NHS staff can get 25 per cent off ATG tickets or 10 per cent off via LoveTheatre.co.uk.

Check healthservicediscounts.com for more offers.

If you have a railcard, you can claim discounts for theatre trips booked with train travel — check availability at DaysOutGuide.tixculture.com.

MORE THE MERRIER: Round up a few friends and book as a group to get money off your next theatre trip.

For instance, booking ten-plus tickets for Mrs Doubtfire in the West End drops the price to £49.50 per ticket, down from around £57.50.

Many theatres offer group rates for 6 to 12-plus people if you check with the theatre directly.

LOTTERY WIN: Some major productions offer daily lotteries for discounted or even free tickets. Hamilton holds a regular lottery via the TodayTix app, where you can win tickets for £10.

Also, follow your favourite shows on social media, where competitions for free tickets are often posted.

ACCESS FOR ALL: If you’re on low income or universal credit, many theatres offer heavily discounted rates.

National Theatre of Scotland’s Theatre for a Fiver programme gives access to £5 tickets, just check local theatre websites for more options.

• All prices on page correct at time of going to press. Deals and offers subject to availability.

Deal of the day

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PLAN ahead for the festive season at Tesco, where a 1L bottle of Bailey’s, usually £22, is now £13 when you use your Tesco Clubcard.

SAVE: £9

Cheap treat

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TURN up the glamour in a pair of Eyelash Emporium strip lashes, usually £8.95, now £5.99 at Superdrug.

SAVE: £2.96

What’s new?

DRINK pink this Breast Cancer Awareness month.

Get three cartons of Ocean Spray Pink Cranberry juice drink for £4 at Sainsburys (usually £1.85 each) and 5p from every carton will go to the Pink Ribbon Foundation.

Top swap

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KEEP your holiday glow when you use the Fenty Beauty Match Stix Shimmer, £25, or pick up a Gorgeous Glow Stick, £3.99.

Both at Boots.

SAVE: £21.01

Little helper

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GET five freezer favourites for £6, including McCain Wedges, Birds Eye Crispy Chicken and more, at Coop.co.uk. If you become a Co-op member for £1, it’s just £5, with access to more discounts.

Shop & save

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SAVE: £50

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Every month we’re giving away £100 to 250 lucky readers – whether you’re saving up or just in need of some extra cash, The Sun could have you covered.

Every Sun Savers code entered equals one Raffle ticket.

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Stay informed with free updates

Simply sign up to the US interest rates myFT Digest — delivered directly to your inbox.

Federal Reserve chair Jay Powell suggested he was increasingly confident that the US central bank would pull off a soft landing and signalled that interest rates would fall “over time” towards a level that no longer restrains growth.

Powell struck a positive note in comments on Monday about the health of the world’s largest economy, which has weathered the worst inflation shock in decades and high interest rates without a painful rise in job losses.

The Fed chair was speaking publicly for the first time since the central bank earlier this month began its first easing cycle in more than four years with a larger-than-usual half-point cut, leaving rates at 4.75-5 per cent.

“That decision reflects our growing confidence that, with an appropriate recalibration of our policy stance, strength in the labour market can be maintained in an environment of moderate economic growth and inflation moving sustainably down to our objective,” he said at an event at the National Association for Business Economics.

Powell did not comment on the size of any cut when officials next meet in November, one day after the US presidential election. Rather, he stressed that if the economy evolved as expected, “policy will move over time towards a more neutral stance” — a level that neither stimulates nor restrains economic activity — with decisions made “meeting by meeting”.

Now that inflation has retreated and the economic backdrop has “set the table for further disinflation”, Powell said the Fed’s focus would be on safeguarding the labour market, which is still “solid” despite demand cooling meaningfully.

“Our goal all along has been to restore price stability without the kind of painful rise in unemployment that has frequently accompanied efforts to bring down high inflation,” Powell said on Monday.

Traders in federal funds futures markets have priced in the possibility that the central bank will again opt for a large rate reduction in roughly six weeks’ time. But a majority believe it will return to a quarter-point cadence in the future.

In an interview with the Financial Times on Friday, Alberto Musalem of the St Louis Fed endorsed the central bank reverting to cutting rates “gradually” given concerns that the economy could react “very vigorously” to looser financial conditions. A half-point reduction would however remain on the table if the labour market weakened more than expected — something his colleague Raphael Bostic of the Atlanta Fed backed on Monday.

According to the latest “dot plot” of Fed officials’ individual projections, most policymakers expected the benchmark rate to fall by another half a percentage point over the course of the two remaining meetings of the year. Almost half of the 19 officials thought the Fed should do less than that.

Policymakers also expected the federal funds rate to fall another percentage point in 2025, ending the year between 3.25 per cent and 3.5 per cent. By the end of 2026, it was estimated to fall just below 3 per cent.

THOUSANDS of struggling households can apply for a £300 winter fuel payment today – here’s how.

Those living abroad can now apply for cash this winter as long as they meet certain conditions.

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If you do not live in the UK, you’re only eligible for the winter fuel payment if:

• You moved to an eligible country before January 1, 2021
• You were born before September 23, 1958
• You have a genuine and sufficient link to the UK – this can include having lived or worked in the UK and having family in the UK

These households can apply via post and will need to fill in the winter fuel payment claim form and post it to the Winter Fuel Payment Centre.

This will be available at www.gov.uk/winter-fuel-payment/how-to-claim from September 30. You can also find the address to post it to here.

Households will also be able to claim by phone, and the DWP will release the helpline number online on October 28.

The deadline to claim for this winter is March 31, 2025.

HOW MUCH YOU’LL GET

Payments last year were worth between £300 and £600, depending on your specific circumstances.

This is because the amount included a “Pensioner Cost of Living Payment” – between £150 and £300. 

However, this year, it will be worth £200 for eligible households or £300 for eligible households with someone aged over 80.

That means you could receive up to £300 in free cash depending on your circumstances.

Most payments are made automatically in November or December.

You’ll get a letter telling you:

• How much you’ll get
• Which bank account it will be paid into

If you do not get a letter or the money has not been paid into your account by January 29, 2025, you must contact the Winter Fuel Payment Centre on 0800 731 0160.

AVOID MISSING OUT

Over 800,000 households are eligible for pension credit but aren’t claiming the benefit.

Those people will now also miss out on this year’s winter fuel payment unless they start claiming.

Pension credit tops up your weekly income to £218.15 if you are single or to £332.95 if you have a partner.

This is known as the “guarantee credit”.

If your income is lower than this, you’re very likely to be eligible for the benefit.

However, if your income is slightly higher, you might still be eligible for pension credit if you have a disability, you care for someone, you have savings or you have housing costs.

You could get an extra £81.50 a week if you have a disability or claim any of the following:

• Attendance allowance
• The middle or highest rate from the care component of disability living allowance (DLA)
• The daily living component of personal independence payment (PIP)
• Armed Forces independence payment
• The daily living component of adult disability payment (ADP) at the standard or enhanced rate.

You could get the “savings credit” part of pension credit if both of the following apply:

• You reached State Pension age before April 6, 2016
• You saved some money for retirement, for example, in a personal or workplace pension

This part of the pension credit is worth £17.01 for single people or £19.04 for couples.

It’s wise to put in an application as soon as possible, as the DWP can take up to two months to process new claims.

However, new claims for pension credit can be backdated by three months.

This means that the absolute deadline to claim the benefit and qualify for this year’s winter fuel payment is December 21.

If you fail to apply for the benefit before this date, you won’t qualify for this year’s £300 winter fuel payment.

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What is the strike about?

What items will be affected by the strike?

What will the economic impact be?

How could this affect the US election?

A POPULAR Christmas steam train experience is set to return this year – with cheaper ticket prices.

Santa Steam Express, run by railway experience company Steam Dreams Rail Co., is returning for its fourth year.

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It is running this Christmas at London on December 20 and December 21.

The trips begin at London Victoria, where passengers will climb aboard the train’s vintage carriages that date back to the 1960s.

You’ll then embark on a 1hr30 minute adventure through south London, passing Chiswick, before heading towards Barnes and Clapham Junction.

The exact route is yet to be confirmed, but Steam Dreams Rail Co have said the route is likely to be similar to previous years, ending at London Victoria.

When onboard, children can expect to receive a sweet treat, drink and gift, while adults can enjoy some mulled wine, tea or coffee and a mince pie.

Families will also be riding along with festive characters, such as Mrs Claus, along with a merry band of elves who will hand out children’s gifts.

A copy of the International Elf Service North Pole Star newspaper with up-to-date stories and announcements from the Christmas Workshop, written by the Elves, will also be available.

And once the drinks and nibbles are done, children can get stuck into some Christmas activities, before meeting the man in red himself, Santa.

The festive trips will be hauled by two iconic steam locomotives – either the 700000 Britannia or 34046 Braunton, which date back over 70 years.

They’ll depart four times a day on December 20 and December 21, with slots running at 9:30am, 11:45am, 15:30pm and 18:15pm, with booking starting from £55 per person in Coach Class.

This is cheaper than last year, where the cheapest tickets were priced at £65.

For passengers who want something more private, you can opt to book a private carriage instead.

Head of Communications at Steam Dreams, Juliet Soley, said: “We are delighted to be bringing the magic of steam and Santa to London Victoria for the fourth year.

“It is a joy to be part of the Christmas countdown traditions of many families and we look forward to welcoming guests on board this year to create special memories.

“With only two dates this year, we encourage guests book early once tickets are available.”

Tickets for Club Class, with luxury cushioned seating and spacious tables within a festively adorned carriage, start from £75.

For a private compartment which seats up to six people, prices start from £550.

Elsewhere in Europe, a new train route linking two of Europe’s most popular cities will be up and running in time for Christmas market season.

The high-speed service will run from Berlin to Paris, between Berlin Hauptbahnhof and Paris Gare de L’Est, with stops in Frankfurt, Strasbourg and Karlsruhe.

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