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Foreign secretary backs Mandelson to be UK ambassador to US

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Foreign secretary David Lammy

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Foreign secretary David Lammy has swung his support behind Lord Peter Mandelson to become the next UK ambassador to the US, helping cement the former trade secretary’s position as the frontrunner in the race to succeed Dame Karen Pierce.

Downing Street officials say a decision is likely to be made by next month and that a political appointment is now likelier than a civil service pick.

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Donald Trump’s victory in the American presidential election last week has sharpened Number 10’s calculation about the kind of candidate needed — and bolstered the need for someone with Mandelson’s credentials as a trade expert.

Lammy is maintaining a public silence about his preference for the ambassador post, but is now privately rooting for Mandelson, according to two people with knowledge of the foreign secretary’s position. A spokesman for Lammy declined to comment.

Mandelson, who is a close political ally of Starmer’s chief of staff Morgan McSweeney, is a Labour party veteran who held high office last time the party was in power and was also previously European commissioner for trade.

Trump has threatened to raise tariffs on US imports, potentially tilting the world into a fresh trade war.

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Pierce, whose term has already been extended once, is expected to remain in post to handle the transition between outgoing incumbent Joe Biden and Trump, before a successor takes over shortly after the presidential inauguration in January, according to UK government officials.

Foreign secretary David Lammy
David Lammy is now privately rooting for Mandelson, according to two people with knowledge of the foreign secretary’s position © Maja Smiejkowska/Reuters

One senior Labour figure said Mandelson was “incredibly close” to McSweeney, who was recently appointed as the prime minister’s chief of staff, replacing Sue Gray: “Given Morgan is now in a very strong position in Number 10 that bodes well for Peter’s chances.”

However McSweeney is understood to have stayed out of the current deliberations to avoid any conflict of interest.

Mandelson is also an old ally of Pat McFadden, the influential Cabinet Office minister, who was his deputy in the business department 15 years ago.

One Number 10 official said any decision would be based on merit rather than personal loyalty, noting that Mandelson had almost unparalleled experience on trade matters. Downing Street declined to comment.

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Mandelson is viewed as having taken the lead ahead of three other potential political appointments widely touted as being in the running for the role: former UK foreign secretary David Miliband, former UK development secretary Baroness Valerie Amos and former European foreign affairs commissioner, Baroness Cathy Ashton.

(left to right) Baroness Cathy Ashton, David Miliband and Baroness Valerie Amos
(left to right) Former European foreign affairs commissioner Baroness Cathy Ashton, former UK foreign secretary David Miliband and former UK development secretary Baroness Valerie Amos are also in the running for the role © APA/Alamy/PA

Chancellor Rachel Reeves is thought to favour Miliband, and met the former foreign secretary on a visit to New York in August.

Mandelson is simultaneously in contention for ceremonial role of Oxford chancellor, for which voting begins on November 18. Despite the distances involved, one ally of Mandelson suggested he could occupy both roles, pointing to the example of Chris Patten who was Oxford chancellor while also chair of the BBC.

Mandelson told the BBC on Sunday “that nobody has spoken to me about this job”. He added the UK should pursue a “digital and technological economic agreement” between the two countries rather than an “old-fashioned sort of free trade agreement of goods and mortar”.

Karen Pierce with Donald Trump after she was appointed as the UK’s ambassador to Washington in 2020
Karen Pierce with Donald Trump after she was appointed as the UK’s ambassador to Washington in 2020 © X

People close to the process say that another extension to Pierce’s term has not been ruled out, given her success in building deep links with Maga-aligned Republicans.

Nicknamed the “Trump Whisperer” in British diplomatic circles, she is credited with lining Starmer up for one of the first phone calls with Trump following his win last week, and for organising the intimate dinner between Starmer, Trump and Lammy in New York in September.

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She has also been praised for assisting then UK foreign secretary Lord David Cameron in meeting with Trump at Mar-a-Lago in April to help unlock Republican support for US aid to Ukraine, as well as the UK embassy leading a well-resourced delegation to the Republican convention this summer.

“Keeping Karen there would clearly have its merits given how she’s maintained good relations with the Trump people,” said one Labour person. “She’s more political than a typical diplomat.”

They added: “The four political names we have are really good and would be fantastic if anyone else was president, but . . . maybe they should look elsewhere.”

The resignation of Sir Philip Barton, permanent secretary at the Foreign, Commonwealth and Development Office earlier this month has also triggered new jockeying for position.

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Some diplomats believe Pierce could be in line to replace him at the helm of the department, while others are tipping Sir Matthew Rycroft, currently permanent secretary at the Home Office, and Dame Barbara Woodward, the UK’s envoy to the UN.

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Lidl’s Coca-Cola truck rival to hit roads in HOURS – giving away free ‘mystery boxes’ with middle aisle must-haves

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Lidl’s Coca-Cola truck rival to hit roads in HOURS - giving away free ‘mystery boxes’ with middle aisle must-haves

IN just a few hours Lidl’s version of the Coca-Cola truck takes to the roads to spread festive joy and give away free gifts.

The discount retailer launched its rival to the iconic red Christmas truck this year for the very first time.

Lidl's answer to the iconic Coca-Cola Christmas truck will appear on the roads of Britain in a few hours

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Lidl’s answer to the iconic Coca-Cola Christmas truck will appear on the roads of Britain in a few hoursCredit: Lidl
The truck will arrive at each stop around midday and will be giving out freebies until 6 pm

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The truck will arrive at each stop around midday and will be giving out freebies until 6 pmCredit: Lidl

Lidl‘s Freeway cola truck will begin its tour of Great Britain on Thursday.

The festive tour will see the truck visit nine different cities until December 1.

Tomorrow, the lit-up red lorry will pull into Dundee and the fun will begin at midday, ending at 6 pm.

The timings stay the same for all locations.

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People who are lucky enough to spot the red truck will find that 2,000 mystery present boxes will be given out.

Each box contains several items from Lidl’s famous “middle aisle.”

However, it is on a first-come-first-serve basis so you must hurry to grab one.

As an extra treat, Lidl has ensured that one in 10 of the boxes contains a “Golden Ticket” as well as the middle aisle freebies.

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This ticket will be a coupon worth £100 that can be redeemed on the Lidl Plus app.

Visitors will also find that Lidl will be handing out festive food and even granting wishes.

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The supermarket chain said visitors to the truck can also make a “wish” for something they want this Christmas, with the retailer granting a number of them.

The full list of locations the truck will visit, and the dates it will arrive there are as follows:

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  • Dundee – November 14
  • Harrogate – November 16
  • Hull – November 17
  • Nottingham – November 21
  • Wolverhampton – November 23
  • Wrexham – November 24
  • Luton – November 28
  • Bournemouth – November 30
  • Southampton – December 1

As Lidl hopes to “highlight the magic of giving, sharing and wish-making this Christmas with a pop-up wonderland at each stop,” Coca-Cola has also detailed some of the plans for its truck this year.

Why is the Coca-Cola truck famous?

The Coca-Cola Christmas truck was first seen in the brand’s hugely popular 1995 advert.

At the time they were known as Christmas Caravans and were decorated with images of the Coca‑Cola Santa by artist Haddon Sundblom.

The 60-second clip features the now-iconic Holidays Are Coming song, which is still synonymous with Coca-Cola to this day.

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The truck began touring the US in 2001 but didn’t start visiting the UK until 2010.

The drinks company confirmed the return of the iconic truck last week promising that the tour this year will be “bigger and better than ever.”

Visitors will be able to take part in festive games and a lucky dip which will give them the chance to win exclusive Coca-Cola merchandise.

A food truck will serve up seasonal food and ice-cold Coca-Cola Zero Sugar drinks.

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The exact dates and locations have not yet been released as Coca-Cola urges fans to keep their eyes out for updates on its Instagram and X pages.

Last year, the truck visited some of the UK’s most major cities including Glasgow, Edinburgh, Liverpool and Manchester.

It started on November 23 and ended on December 3, so the wait should not be too long.

Cola-Cola has remained tight-lipped about its 2024 tour that promises to be 'bigger and better than ever'

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Cola-Cola has remained tight-lipped about its 2024 tour that promises to be ‘bigger and better than ever’

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Curve Finance launches 'Savings crvUSD' yield-bearing stablecoin

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Curve Finance launches 'Savings crvUSD' yield-bearing stablecoin


Ensuring that decentralized finance platforms and networks do not remain siloed is a key hurdle for DeFi applications to overcome.



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Price analysis 11/13: BTC, ETH, SOL, BNB, DOGE, XRP, ADA, SHIB, TON, AVAX

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Price analysis 11/13: BTC, ETH, SOL, BNB, DOGE, XRP, ADA, SHIB, TON, AVAX


Bitcoin is showing no signs of stopping its advance toward $100,000, and several altcoins look poised to follow.



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S. Korean influencer allegedly led $232M crypto scam, 215 arrested

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S. Korean influencer allegedly led $232M crypto scam, 215 arrested


South Korea has been taking steps to suppress crypto scams. This latest one is the biggest ever though.



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XRP 'god candle imminent' with $2 end of the year target — Analyst

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XRP 'god candle imminent' with $2 end of the year target — Analyst


XRP price could imitate and “pull like Dogecoin” if a bullish chart pattern is confirmed.



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Warren Buffett Breaks 6-Year Streak Of Berkshire Hathaway Stock Buybacks, Say ‘It’s Too Expensive’

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Warren Buffett Breaks 6-Year Streak Of Berkshire Hathaway Stock Buybacks, Say 'It's Too Expensive'


Warren Buffett Breaks 6-Year Streak Of Berkshire Hathaway Stock Buybacks, Say 'It's Too Expensive'
Warren Buffett Breaks 6-Year Streak Of Berkshire Hathaway Stock Buybacks, Say ‘It’s Too Expensive’

Berkshire Hathaway CEO Warren Buffett recently ended a six-year streak of stock buybacks for the company. While the company regularly participates in stock buybacks, it did not do so during the third quarter, according to Securities and Exchange Commission filings.

Despite having over $325 billion in cash reserves, Buffett opted not to use that cash to buy back shares, suggesting that he believes the stock is too expensive.

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Buffett’s approach to stock buybacks is straightforward: he only buys back shares when he considers them a “bargain.” According to Berkshire Hathaway’s regulatory filings, he looks for a stock price below the company’s intrinsic value – a conservative measure considering the long-term worth of Berkshire’s assets. Analysts believe the absence of buybacks sends a clear message to the market: Berkshire’s stock is overvalued at its current price.

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Berkshire Hathaway‘s Class A shares are trading around 1.6 times their book value, representing the company’s assets once debts are subtracted. In the past, Berkshire has avoided buybacks when the stock traded above 1.2 times its book value, but that guideline was dropped in 2018.

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Buffett’s conservative investment philosophy remains firm even with a more flexible policy. Robert Korajczyk, a finance professor at Northwestern’s Kellogg School of Management, explained to CNN, “He’s been very clear that they would never buy back shares if they thought that the firm was overvalued.”

In addition to ending its buyback streak, Berkshire increased its already significant cash holdings by selling stocks in the third quarter. Some analysts took this as a cautionary move due to concerns about the current market environment.

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NYU Stern School of Business professor Aswath Damodaran told CNN that Buffett’s decision to hold cash suggests Berkshire is taking a conservative stance, likely due to high stock prices. “It’s a signal that they feel cautious about where the market is,” Damodaran said. “They’ve become cautious because they think the market is richly priced.”



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