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Israel behind pager explosions that killed 11, wounded thousands

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Israel behind pager explosions that killed 11, wounded thousands
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This story originally appeared in Common Dreams on Sep. 18, 2024. It is shared here with permission under a Creative Commons (CC BY-NC-ND 3.0) license.

Several news outlets confirmed late Tuesday what was widely suspected: Israel’s military and intelligence services were behind the explosions of pagers recently purchased by the Lebanese political party and militant group Hezbollah.

The explosions, reportedly set off earlier Tuesday by a message that appeared as if it was from Hezbollah’s leadership, killed at least 11 people—including an 8-year-old girl—and wounded thousands more.

Citing both an unnamed former Israeli official with knowledge of the operation and an anonymous U.S. official, Axios reported that “Israeli intelligence services planned to use the booby-trapped pagers it managed to ‘plant’ in Hezbollah’s ranks as a surprise opening blow in an all-out war to try to cripple Hezbollah.”

“But in recent days, Israeli leaders became concerned that Hezbollah might discover the pagers,” the outlet continued. “Israeli Prime Minister Benjamin Netanyahu, his top ministers, and the heads of the Israel Defense Forces and the intelligence agencies decided to use the system now rather than take the risk of it being detected by Hezbollah, a U.S. official said.”

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A spokesperson for the U.S. State Department publicly denied that the Biden administration was involved in the attack or aware of the operation in advance.

Heidi Matthews, an associate professor at the Osgoode Hall Law School of York University, wrote Tuesday that “each explosion constitutes an indiscriminate attack,” pointing to video footage of a pager detonating in a crowded market.

“Under these circumstances,” Matthews added, “this is an act of terror.”

The New York Times reported Tuesday that Hezbollah ordered thousands of pagers from the Taiwanese manufacturer Gold Apollo, but the company denied making the devices. According to the Times, which cited unnamed officials, Israeli operatives “tampered with” the devices “before they reached Lebanon,” planting in them “as little as one to two ounces” of explosive material and a switch “that could be triggered remotely to detonate the explosives.”

Heightening fears of a broader conflict, Hezbollah pledged Tuesday to retaliate against Israel over the attack, which reportedly injured Iran’s ambassador to Lebanon as well as Hezbollah fighters and medics.

The Guardian‘s Andrew Roth noted Tuesday that just “a day before the coordinated sabotage, Amos Hochstein, a senior adviser to [U.S. President] Joe Biden, was in Israel urging Benjamin Netanyahu and other senior Israeli officials against an escalation in Lebanon.”

Netanyahu has repeatedly sabotaged cease-fire negotiations with hardline demands in recent weeks as the Israeli military—heavily armed by the U.S.—continues to assail the Gaza Strip.

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“While U.S. officials have said that the basis for peace along Israel’s northern boundary with Lebanon would come through a cease-fire in Gaza, that agreement has proven elusive and appears no closer to fruition,” Roth wrote Tuesday. “The White House had hoped that a period of quiet around Israel would allow for cease-fire negotiators to achieve a breakthrough, as intermediaries shuttle between Hamas and Israel to thread the needle of both sides’ complex demands regarding a hostage exchange and territorial claims.”

“That period of quiet has now been shattered with a breathtaking act of subterfuge and Hezbollah has vowed to retaliate,” Roth added.

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It will take another 20 years to close the gender pensions gap, says Scottish Widows

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It will take another 20 years to close the gender pensions gap, says Scottish Widows

At the current rate of progression, it will take another 20 years to close the gender pensions gap.

This is what Scottish Widows independent financial adviser workplace senior manager Susan Hope told Money Marketing while discussing its latest women & retirement report 2024.

However, the report does outline that the gender pensions gap will close in 20 years, only if the government implements further policies encouraging further women to save into a pension.

These policies include:

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  • Getting more women saving into a pension and qualifying for the full State Pension;
  • Increasing the confidence women have to invest and manage their finance;
  • A shift in approach to joint financial planning so that women do not lose out when annuities are purchased or in the event of divorce.

The report did highlight that “good progress in reducing the gender pensions gap over the last 20 years” has been made.

The gender pensions gap has reduced from 52% to 33% since 2008 for those aged 50-64, but women currently nearing retirement are still likely to have pension pots which are a third smaller than men.

Scottish Widows also predicts that at the current rate, two million women in the UK feel like they will never be able to retire.

In order to make further positive changes, Hope believes collaboration is needed between regulation, the industry and employers.

Hope said this issue does not only impact women, “it affects everyone as everyone has women in their life”.

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In regards to auto-enrolment, Hope said it has been “great” but 43% of women do not feel confident enough to manage their own pension.

Additionally, issues remain that predominantly impact women. If a single mother works two jobs part time and earns under £10,000 per job she will not be eligible for auto-enrolment and miss out on a pension.

“So working mums can be hit.”

Scottish Widows head of pensions policy Pete Glancy said: “Within the pensions system, reforms to auto-enrolment could allow those working part-time, or juggling multiple jobs to benefit from pension contributions, including contributions from their employer where they themselves are unable to save at that point in time.”

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The report also looks at women’s attitude towards investment for the first time in the reports 20-year history. It showed only 38% of women invest outside of pensions, compared to 55% of men.

This gap is exacerbated for young women as 34% of women aged 18-24 invest, compared to 64% of men aged 18-24.

Women are less likely to feel that investing is for people like them, and they are less likely to feel sufficiently supported to learn more about investing.

Still, more women aged 18-24 would consider investing if they had the right advice and resources. The most common cited barrier to investing was understanding potential risks and rewards better (36%) and access to official financial advice (31%).

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Hope does feel the gap is “within our reach to close it” but we need to take a “holistic” approach towards pensions.

Hope added: “The pensions gender pay gap belongs in the past, let us be the generation that makes it history.”

Glancy added that the government has announced a Pensions Review, where Scottish Widows believes Phase 2 of that review will have the gender pensions gap “within its scope”.

“This is the opportunity for all stakeholders who genuinely believe in gender pensions equality to contribute to that review, making the case for the reforms that will make a difference.”

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My Pension Expert policy director Lily Megson said: “Yet again, we’re faced with damning evidence that British women are drawing the short straw when it comes to their pension planning.

“Targeted support from the government is therefore a must. Taking action through policy that boosts financial education, encourages active pension engagement, widens access to auto-enrolment and closes the gender pay gap is a vital step in empowering women to achieve the retirement they deserve.”

In order to obtain these results, Scottish Widows commissioned YouGov to survey 5,102 adults aged 18+.

YouGov also conducted a second survey to better understand investment behaviours and shifts in attitudes, with 3,650 adults aged 18+.

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UK Post Office to close 115 branches, putting hundreds of jobs at risk

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The Post Office will close more than 100 branches, placing hundreds of jobs at risk, as the state-owned UK business seeks to put itself on a sounder financial footing following an IT scandal.

Proposals by the Post Office will result in 115 lossmaking, wholly-owned branches being shut down, according to people familiar with the matter.

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The move will affect about 1,000 workers, while hundreds of jobs at the company’s headquarters are also at risk.

Post Office interim chair Nigel Railton is expected to set out plans for the future of the business on Wednesday after a review.

It operates about 11,500 branches across the UK, most of which are run by franchisees.

The 388-year-old institution has struggled to retain relevance in a competitive market for parcel delivery where many consumers and businesses use services which cut the Post Office out of the process for sending and receiving packages.

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Although it has attempted to reinvent itself by providing banking services, the Post Office still receives ten of millions of pounds in state subsidies each year.

The business reported pre-tax losses of £81mn in 2022-23, down from £131mn in the previous year.

The long running Post Office IT scandal, in which nearly 1,000 sub-postmasters were wrongly prosecuted using flawed data between 1999 and 2015, has preoccupied executives.

Nick Read will step down as Post Office chief executive in March following a five-year stint that was overshadowed by one of the UK’s most serious miscarriages of justice.

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Appearing before a public inquiry into the scandal last month, Read said the business had “more to do” to win the trust of sub-postmasters.

The Post Office is wholly owned by the taxpayer, but is run at arms-length by the government through UK Government Investments, a body responsible for managing a portfolio of wholly or partially state-owned companies such as NatWest and Channel 4.

Gareth Thomas, postal affairs minister, has commissioned a separate review into the future of the Post Office as the government considers the viability of mutualisation as a form of ownership, among other options.

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The Post Office said it would set out a “new deal” for sub-postmasters that will “dramatically increase postmasters’ share of revenues . . . and make it work better for local communities, independent postmasters and our partners”.

The Department for Business and Trade said: “The government is in active discussion with Nigel Railton on his plans to put postmasters at the centre of the organisation and strengthen the Post Office network.”

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Living Like a Rock Star at Munich’s Bayerischer Hof Hotel

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All Images credit Bayerischer Hof Hotel

As the legendary German writer Thomas Mann once said, “Munich is a city that lives in the heart of the world.” Staying at the Bayerischer Hof Hotel is an embodiment of this sentiment, where the heart of the city beats in every corner. Here, the past and present are woven together, offering a fascinating contrast of grandeur and modern vibrance. The hotel’s classical white interiors set the stage for a refined, timeless atmosphere, while its impeccable service delivers the kind of luxury that feels almost indulgent. Yet, beyond the tradition and history, the Bayerischer Hof reveals a surprising, rock star-like energy—where elegance collides with unexpected flair, creating an unforgettable experience.

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A Legacy of German Hospitality

Founded in 1841 by architect Friedrich von Gärtner, under the patronage of Bavarian King Ludwig I, the Bayerischer Hof swiftly became Munich’s premier address for state guests. Its distinguished visitors included Empress Elisabeth of Austria and Sigmund Freud, while Crown Prince Rupprecht of Bavaria famously met his love, ballet dancer Antonia, here in secret.

In more modern times, the hotel’s guestbook continues to read like a who’s who of global entertainment and politics. The Beatles, during their 1960s tour, famously had a pillow fight in their suite, leaving the staff with a memorable (and messy) cleanup. Michael Jackson’s stay in 1998 with his family became legendary, further immortalized by a fan-created memorial to Flemish composer Orlande de Lassus across the street. Celebrities from Franz Kafka to Daniel Craig, Lenny Kravitz, and Luciano Pavarotti have also graced its halls, ensuring the Bayerischer Hof’s status as more than just a hotel.

While the hotel remains tight-lipped about many of its VIP guests, it’s no secret that luminaries like John F. Kennedy and Muhammad Ali have spoken fondly of the place, as have countless others.

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A Secretive Tradition

In addition to these colorful anecdotes, the hotel hosts the prestigious Munich Security Conference each year, where politicians, diplomats, and experts from around the world convene to discuss critical security matters. The discreet nature of these gatherings reflects the hotel’s long-standing tradition of guarding its secrets, adding another layer to its enigmatic appeal.

The Picasso Heist

An intriguing chapter in the hotel’s storied history occurred in 1989, when Picasso’s Tête de Femme was stolen from the lobby. Despite the hotel’s security measures, the thief vanished with the artwork, and its whereabouts remain a mystery to this day—a curious footnote in a hotel filled with far more glamorous episodes.

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The Bayerischer Hof’s decor pays homage to its heritage with Louis XVI-style barometers, Louis Philippe armchairs, and rich jacquard floral bedspreads. Yet it’s also a place where tradition gives way to the modern: contemporary design elements like wood, concrete, and clean lines stand in juxtaposition to the opulence of its past.

Luxurious Accommodations

The hotel offers 340 rooms, each reflecting a different design aesthetic. The pinnacle of luxury is the €15,000-per-night penthouse suite, with a private entrance, rooftop gym, sauna, and sweeping views of Munich’s skyline. 

The suite’s panoramic windows allow guests to take in the city’s spires, parks, and streets, while a private terrace offers a secluded space to unwind with a sunset toast. With marble bathrooms, bespoke art, and cutting-edge amenities, it’s more than just a place to stay—it’s an experience.

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Michelin Star Dining

Dining at the Bayerischer Hof is an experience in itself. The Blue Spa rooftop restaurant offers Bavarian specialties like white sausage, pretzels, and deep-fried donuts in the morning, while the evening presents the opportunity to relax in the spa’s sauna and enjoy the expansive Munich view.

For a more elevated culinary experience, Atelier Restaurant, with its three Michelin stars, offers a modern twist on French cuisine. The concrete and wood interior exudes youthful vibrancy, and the dishes are nothing short of artistic. Highlights include perfectly roasted venison with chanterelles and rich Chartreuse jus, and a delicate Japanese hamachi served with a miso-ponzu glaze—flavors that blend artistry with craftsmanship.

Cocktails and Historic Atmosphere

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For cocktails, there’s no shortage of options. Trader Vic’s, with its Polynesian charm, offers exotic drinks in an island-inspired setting, while Falk’s Bar, nestled in the hotel’s historic Hall of Mirrors, exudes a glamorous, intimate vibe where history seems to linger in every mahogany panel.

Spa and Wellness

The Blue Spa, located just below the penthouse, is a sanctuary of tranquility, with a rooftop pool offering stunning views of the city. Designed by French interior designer Andrée Putman, the spa’s minimalist aesthetic and avant-garde furnishings provide a perfect contrast to the hotel’s more traditional elements, adding to the sense of timeless luxury.

A Cultural Hub

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As much a cultural landmark as a hotel, the Bayerischer Hof regularly hosts art exhibitions, concerts, and international events, making it a central part of Munich’s cultural scene. Its prime location offers easy access to iconic sites such as Marienplatz and the vibrant Viktualienmarkt.

For me, staying at the Bayerischer Hof felt like stepping into a living legend. Every corridor, and every room holds echoes of a glamorous past, whispering stories of illustrious guests and historic events. This isn’t just a place to sleep; it’s a time capsule, a stage where dreams have been made and memories forged.

No matter your age or background, the Bayerischer Hof continues to be a beloved icon—Munich’s own rock star, forever etched in the hearts of all who visit. Its ageless appeal reflects the devotion of those who have passed through its doors, ensuring that, in 2024, it remains as cherished and adored as ever.

 

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Written by Kemal Akhtar

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‘Adults buying kids toys to escape global turmoil’, sales data suggests

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Is Reform UK's plan to get Farage into No 10 mission impossible?
BBC A Stitch puppet in looks face to face with Richard North from Wow Stuff - both have a similar surprised expressionBBC

A Stitch puppet (left) with Richard North from Wow Stuff at the DreamToys event

Toy sales have fallen for a third year in a row as family budgets are squeezed – but adults are buying childhood favourites to escape their troubles, research suggests.

A falling birth rate, the cost of living and fewer big hit film franchises have combined to push the value of sales down 3% on the previous year.

But sales to so-called kidults have grown, with one in five toys and games now bought by over-18s for themselves, according to toy industry research group Circana.

It suggests adults are buying Lego and collectibles for their “positive mental health benefits as they spark nostalgia and bring escapism from global turmoil”, said Melissa Symonds, executive director of UK toys at Circana.

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Cars and planes still on top

The Toy Retailers’ Association has unveiled its annual list of 20 products its expects to sell well this Christmas. The DreamToys list is compiled by a panel of retailers and experts.

Alongside some familiar names on the list, such as Hot Wheels cars and a Paw Patrol bulldozer, there are toys clearly aimed at a range of age groups.

For youngsters, a Fart Blaster makes the kind of noise its name suggests, while a McLaren F1 car Lego set is probably targeting an older audience.

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A Lego McLaren F1 car on a table top

The McLaren F1 car Lego set is expected to sell well to adults

Transport remains the most popular theme among toys, according to Circana, but animals now sit in second, with interactive pets becoming increasingly popular. These dolls now asked to be stroked and played with, and can repeat words.

With family finances stretched, the price range of the 20 toys on the list has dropped to between £9.99 and £89.99.

Key Christmas period

The UK toy industry had sales of £3.4bn in the year to September, according to Circana.

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The sector is now entering the crucial festive period with six weeks to go to Christmas, as retailers concentrate on Black Friday and encouraging people into physical stores as well as visiting their websites in the run-up to 25 December.

Christmas Day falls on a Wednesday, which is generally seen as a benefit to shops. However, the Toy Retailers Association said sellers faced cost pressures on the future owing to the employers National Insurance rise announced in the Budget.

Sales of toys and games saw a big lift during Covid as more families spent time at home during lockdowns, but sales have fallen since 2021, and currently sit just below 2019 levels, according to Circana.

It said the average price of a toy last December was £12.95, while more than six times that amount was typically spent on toys for children aged up to 10 at Christmas.

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The 20 must-have Christmas toys that should be on every kids’ (and grown-ups’) list… with something for every budget

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The 20 must-have Christmas toys that should be on every kids' (and grown-ups') list... with something for every budget

CHECK out this play list!

The most-wanted Christmas toys have been revealed – with experts predicting a record £1BILLION splurge.

The cars can change colour in warm water

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The cars can change colour in warm waterCredit: Mattel

The DreamToys top 20 rundown of all-star buys, compiled by the Toy Retailers Association,  features a wall-climbing gecko, Bluey’s plane and an F1 race car.

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The expected mega-spend is being put down to the rise of so-called “kidults” – adults who collect and play with toys.

The list, which predicts best-sellers, also has something for every budget.

Prices start at £9.99 and more than half of the items can be found for less than £50.

Here Thomas Godfrey checks out where the fun is at . . . 

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HOT WHEELS ULTRA SLAM CAR WASH PLAYSET, MATTEL UK, £59.99 (above)

The latest toy in the ever-popular Hot Wheels City series includes cars that can change colour in warm water.

BEYBLADE X XTREME BATTLE SET, HASBRO, £44.99

The classic game with a dramatic twist

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The classic game with a dramatic twistCredit: Darren Fletcher

This battle set comes with blades that can snap into three pieces, making for a dramatic twist on this classic game.

DESPICABLE ME 4: THE ULTIMATE FART BLASTER, MOOSE TOYS, £29.99

This puts out banana-scented vapours

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This puts out banana-scented vapoursCredit: Darren Fletcher

A sure-fire laugh, this vapour-blasting wonder puts out fart and banana-scented vapours in the style of Gru’s Minions.

UNO SHOW ’EM NO MERCY, MATTEL UK, £12.99

This has the dreaded +10 card included for the first time

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This has the dreaded +10 card included for the first timeCredit: Darren Fletcher

As if games of Uno were not intense enough, here punishments and rewards are more severe with a dreaded +10 card included for the first time.

UNICORN ACADEMY INTERACTIVE RAINBOW LIGHT-UP WILDSTAR, SPIN MASTER, £35.99

If you love the Netflix show you'll love this

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If you love the Netflix show you’ll love thisCredit: Darren Fletcher

Inspired by the hit series, this comes alive when shown love and belts out songs from the Netflix show.

Christmas has landed in Aldi – with £3.49 decorations and ‘paint your own’ wooden toys that are even cheaper than Lidl’s

BLUEY 3-IN-1 TRANSFORMING PLANE PLAYSET, MOOSE TOYS, £59.99

This is great for any little fans of the Bluey show

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This is great for any little fans of the Bluey showCredit: Darren Fletcher

The aircraft from the kids’ TV favourite transforms into a resort and a boat – and comes with some of the show’s top characters.

DISNEY STITCH, LEGO, £59.99

This is currently the world’s best-selling toy

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This is currently the world’s best-selling toyCredit: Darren Fletcher

Currently the world’s best-selling toy, it is perfect for playtime.

Sensors on its mouth and hands make for hours of interactive fun

HEX BOTS WALL CRAWLER GECKO, HEXBUG, £29.99

This toy uses vacuum technology to cling to walls

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This toy uses vacuum technology to cling to wallsCredit: Darren Fletcher

This innovative toy uses vacuum technology to cling to walls and climb, as well as scuttling around on the floor.

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ICONS TINY PLANTS, LEGO, £44.99

This Lego set is compatible with other sets

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This Lego set is compatible with other setsCredit: Darren Fletcher

Lego’s plant range is easy to build and compatible with other sets – adding some shrubbery to the legendary range’s bestsellers.

LITTLEST PET SHOP – PET SHOP PLAYSET, BANDAI UK, £39.99

This set now comes with bobbing heads

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This set now comes with bobbing headsCredit: Darren Fletcher

This collectable set, loved by both kids and adults, features all kinds of animals – and now comes with bobbing heads.

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SPEED CHAMPIONS McLAREN F1 RACE CAR, LEGO, £20.99

This set is based on Brit racer Lando Norris’ McLaren Formula 1 car

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This set is based on Brit racer Lando Norris’ McLaren Formula 1 carCredit: Darren Fletcher

Petrolhead or not, it’s easy to get hooked on this set – which comes with all the stylings of Brit racer Lando Norris’ McLaren Formula 1 car.

MINIVERSE MAKE IT MINI POTIONS CLASS, MGA, £49.99

This Harry Potter set comes with more than 100 parts

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This Harry Potter set comes with more than 100 partsCredit: Darren Fletcher

This Harry Potter set takes four hours to build and comes with more than 100 parts – making it the perfect arts and crafts gift.

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KINETIC SAND SQUISH MOTION, SPIN MASTER, £19.99

This sensory toy is perfect for relaxation

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This sensory toy is perfect for relaxationCredit: Darren Fletcher

With a fun range of shapes and colours, and a new foam stamp pad, this sensory toy is perfect for relaxation.

PETS ALIVE: MAMA DUCK & BABY SURPRISE, ZURU, £29.99

This includes hatchable eggs and sometimes a rare golden egg

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This includes hatchable eggs and sometimes a rare golden eggCredit: Darren Fletcher

Clip ducklings on to the back of Mama Duck and they will follow her around.

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Includes hatchable eggs and sometimes a rare golden egg.

PAW PATROL RUBBLE’S BARK YARD DELUXE BULLDOZER, SPIN MASTER, £44.99

Little Paw Patrol fans will love this

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Little Paw Patrol fans will love thisCredit: Darren Fletcher

TV fave Rubble slots in the driver’s seat on this bulldozer as kids knock down or build up structures.

FURREAL PEANUT THE PLAYFUL MONKEY, JUST PLAY PRODUCTS, £89.99

This dancing monkey is cute and fun

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This dancing monkey is cute and funCredit: Darren Fletcher

Press his hands and watch him spin.

This dancing primate ooh-oohs and aah-aahs every time you touch one of its many sensors.

REAL FX DISNEY STITCH PUPPETRONIC, WOW! STUFF, £69.99

This toy is from the not-yet-released new Lilo & Stitch movie

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This toy is from the not-yet-released new Lilo & Stitch movieCredit: PA

The film inspiring this, Lilo & Stitch, is not out yet – but the toy is a hit.

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Kids can move its eyes, ears, mouth and nose, and he’ll talk back.

STICKI ROLLS STICKI BOOK PACK, CHARACTER OPTIONS, £9.99

These friendship bracelets come with stickers

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These friendship bracelets come with stickersCredit: Alamy

These friendship bracelets come with rolls of wholesome stickers that friends can share or collect in a booklet.

LITTLE LIVE PETS MY WALKING PENGUIN – WADDLES, MOOSE TOYS, £24.99

This penguin comes with a lead and likes to be taken on walks

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This penguin comes with a lead and likes to be taken on walksCredit: Darren Fletcher

Furry penguin, as name suggests, will waddle around the room.

It comes with a lead and likes to be taken on walks.

HATCHIMALS ALIVE MYSTERY HATCH PUFFICORN EGG, SPIN MASTER, £64.99

Hatch this egg to find adorable cuddly toy

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Hatch this egg to find adorable cuddly toyCredit: Darren Fletcher

Show a lot of love to this egg and it will smoke, crack and . . . reveal an adorable cuddly toy underneath.

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Trump’s cabinet picks signal hawkish stance on China

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A flare to burn methane from oil production is seen on a well pad near Watford City, North Dakota. A screen grab from thermographic video footage shot with an infrared camera and made available to Reuters June 10, 2021 by Clean Air Task Force, shows what appears to be a plume of methane gas flowing from a vent stack at the SNAM underground storage facility in Minerbio, Italy.

This article is an on-site version of our FirstFT newsletter. Subscribers can sign up to our Asia, Europe/Africa or Americas edition to receive the newsletter every weekday. Explore all of our newsletters here

In today’s newsletter:

  • Trump’s foreign policy team takes shape

  • A deadly car-ramming attack in China

  • How Big Oil disguises its methane emissions


Good morning. Donald Trump has signalled a tough new stance on China with hawkish appointments to top foreign policy roles, according to experts in Washington, as the president-elect’s cabinet begins to take shape.

Trump yesterday named Mike Waltz, a Florida congressman and former Green Beret who has called China an “existential” threat, as his security adviser, and is expected to nominate Senator Marco Rubio, another leading China hawk, as his secretary of state.

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The president-elect’s pick for ambassador to the UN, representative Elise Stefanik, has also been extremely critical of Beijing.

Foreign policy experts who believe the US should take a tougher line on China than that pursued by Democratic President Joe Biden welcomed the personnel moves.

“This is like Christmas morning for China hawks,” said Eric Sayers, managing director at the Beacon Global Strategies consultancy. Read more about the Trump appointees and their views on China.

We have more recommended reads on US-China relations:

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  • Zhuhai air show: China unveiled its latest stealth fighter, as Beijing competes with Washington for air superiority amid growing tensions in the region.

  • Climate diplomacy: China has called for the US to engage in “constructive dialogue” to tackle climate change in future, in a thinly veiled swipe at the incoming Trump administration during the UN COP29 summit in Baku.

Here’s what else we’re keeping tabs on today:

  • Economic data: The US reports CPI inflation data for October.

  • Xi Jinping: The Chinese leader travels to Peru for a summit of the Asia-Pacific Economic Cooperation forum. During his visit Xi is expected to inaugurate a Chinese-built megaport on the Latin American country’s Pacific coast.

  • Results: Chinese internet giant Tencent reports third-quarter earnings.

Five more top stories

1. Police in southern China’s Zhuhai city have arrested a driver accused of ramming his vehicle into people in a busy pedestrian zone, killing 35 and injuring 43. The incident on Monday evening is the latest in a series of cases of apparently random attacks that analysts have said hint at rising social tensions in China.

2. Shares in Nissan jumped as much as 20 per cent yesterday after a fund managed by activist investor Effissimo Capital Management was revealed to have taken a stake in the struggling Japanese automaker. Singapore-based Effissimo, a secretive hedge fund run by Japanese managers, is known for its high-profile campaigns against some of the biggest names in corporate Japan.

3. The chief executive of Neom, Saudi Arabia’s $500bn futuristic development in the desert, has been abruptly replaced after six years in charge of Crown Prince Mohammed bin Salman’s flagship project. The company gave no reason for the departure of Nadhmi al-Nasr, whose tenure was often marked by controversy as he oversaw the highly ambitious development.

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4. Baidu has unveiled artificial intelligence-powered smart glasses as Chinese tech groups race with global rivals to capitalise on AI-integrated hardware. The company said the glass, which run Baidu’s large language model Ernie, would “become a private assistant” for wearers.

5. Wall Street bonuses are on course to rise by as much as 35 per cent this year, according to pay consultancy Johnson Associates. Activity levels for corporate deals, stock sales and debt transactions have gradually recovered in 2024, following two fallow years. Here are the investment bankers most likely to make the biggest gains.

  • More US news: Wall Street investors Scott Bessent and Howard Lutnick are the leading contenders to be Trump’s Treasury secretary after hedge fund billionaire John Paulson dropped out of the race for the job.

The Big Read

A flare to burn methane from oil production is seen on a well pad near Watford City, North Dakota. A screen grab from thermographic video footage shot with an infrared camera and made available to Reuters June 10, 2021 by Clean Air Task Force, shows what appears to be a plume of methane gas flowing from a vent stack at the SNAM underground storage facility in Minerbio, Italy.

Methane is responsible for an estimated 30 per cent of the world’s warming since the industrial revolution. Some methane comes from natural sources, such as volcanic gas. But the bulk of emissions are caused by human activity. An FT analysis found that oil and gas companies regularly hide leakages of the deadly greenhouse gas, despite being one of the easiest climate fixes there is.

We’re also reading . . . 

  • Trump’s mandate for retribution: There are few theoretical limits on what the president-elect can do to carry out his vows of revenge against perceived enemies, writes Edward Luce.

  • Emerging markets: Big changes are coming for the US dollar and currencies across Asia if Trump imposes larger tariffs.

  • The problem with self-driving cars: The better an automated system performs, the more complacent — and dangerous — we become, writes Sarah O’Connor.

Chart of the day

It is so much easier to blame the disappearance of US manufacturing jobs on China than on domestic consumers and automation, writes Martin Wolf. But fetishising manufacturing will not restore the old labour force, and Trump’s threatened tariffs on Beijing will cause further malign side-effects.

Take a break from the news

Georgina Adam reports on Art Week Tokyo and why foreign gallerists are saying there is a “new obsession with Japan.”

Installation view of the AWT Focus show at Okura Museum of Art, Tokyo © Kei Okano

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