LADY Victoria Starmer accepted dresses from a Labour bankroller because taxpayers won’t cough up for her clothes, David Lammy said yesterday.
The Foreign Secretary insisted the PM’s wife was right to be given pretty dresses by a millionaire donor because the couple needs to “look their best” for the public.
Sir Keir has been found to have breached Commons sleaze rules by failing to declare that Lord Waheed Alli, a Labour peer, paid for a personal shopper and outfits for Lady Victoria.
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The millionaire has also given the PM £18,685 worth of work clothes and high-end glasses, which were declared in line with Commons rules.
Mr Lammy told the BBC: “The truth is that successive prime ministers, unless you’re a billionaire like the last one, do rely on donations, political donations, so they can look their best, both in the hope of representing the country, if you’re in the Opposition, or indeed as prime minister.”
Mr Lammy told the BBC that while the Starmer’s “are not broke”, other world leaders receive lavish outfit budgets that the PM can’t access.
The Foreign Secretary incorrectly claimed that in the US the President receives generous taxpayer funding for snazzy suits.
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But while presidents do receive the equivalent of £38,100 in expenses allowance, there is no specific clothing budget.
Responding to the ordeal a Tory spokesperson said: “It’s taken just 10 weeks for Keir Starmer to face an investigation for his conduct.
“After facing allegations of cronyism and now apparent serious breaches of parliamentary rules there must be a full investigation into the passes for glasses scandal.
“No doubt the millions of vulnerable pensioners across the country who face choosing between heating and eating would jump at the chance for free clothes just to keep warm in the face of Labour’s cruel cut.”
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Sir Keir Starmer locked in talks with US President Joe Biden over letting Ukraine attack Russia with British missiles
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
What is the next great investment idea? And what are the chances that Warren Buffett will be the person to identify it? Wall Street likes his odds. Shares in the class B of Berkshire Hathaway are up 25 per cent so far in 2024. And the rally comes as Buffett has been rapidly paring back his blockbuster win in Apple stock.
On Saturday, Berkshire Hathaway reported its third-quarter results, most notably that its cash and marketable securities balance had swelled to $325bn. A big chunk of that has come from share sales of Apple whose value for Berkshire now stands at $70bn, down from a peak of $178bn. Berkshire invested initially in Apple in 2016 when its share price was around $25 a share. Today Apple trades above $200.
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Berkshire’s total book value through the third quarter was $631bn, while its public equity market capitalisation is just shy of $1tn. That premium to net asset value reflects a vote of confidence from shareholders that Buffett, at 94, has another similar masterstroke in him.
Buffett for now, however, is increasingly content to clip US Treasury coupons earning a few percentage points, risk free, with no dividends or real buybacks for Berkshire shareholders.
It comes as other big pools of capital — alternative asset managers as well as BlackRock — are pouring funds into all types of plain and exotic private credit as well as long-tailed infrastructure and data centre deals. Blackstone, for example, has deployed $123bn in the past 12 months mostly away from either public or even private equity.
To be sure, Berkshire’s property and casualty insurance business carries out all sorts of sophisticated trading and hedging activities. But the investment group is best known for largely buying public, large-cap equities as well as mega operating business platforms such as power utilities and railroads. In the absence of a financial markets crisis where Buffett could play white knight to handsome reward, there is a question in calm markets if he needs to choose less vanilla securities.
The sheer size of Berkshire now makes it hard to find single investments that can move the needle. Its securities portfolio of more than $300bn has fewer than 30 stocks and the next Apple probably needs to be an up-and-coming Big Tech luminary. Buffett’s Apple bonanza helped obscure the dearth of juicy opportunities for Berkshire. That dilemma is now back on the table.
GREGGS has revealed the exact date it will bring back two of its festive favourite baked goods.
Customers will be able to get hold of the Festive Bake from Thursday, November 7.
The Greggs Xmas staple is made up of a crumb-topped pastry filled with pieces of chicken, sage, onion stuffing, and sweetcure bacon, covered in a creamy sage and cranberry sauce.
In a move that’s also expected to delight vegans and veggies across the UK, the Vegan Festive Bake is also set to return after a hiatus from the menu last year.
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The Christmas Lunch Baguette will be returning to the menu alongside the much-loved Festive Bakes.
This is filled with chicken breast and sage and onion stuffing, with a dash of onion gravy, sweetcure bacon, and cheese, finished with a cranberry and onion relish.
The all-new Festive Flatbread will also be launching – a soft and warm flatbread stuffed with sage & onion style chicken mayo, sweetcure bacon and a tangy cranberry and red onion relish.
For customers looking for a Christmassy sweet treat, the brand-new Toffee Fudge Muffin and Chocolate and Hazelnut Flavour Doughnut will be making an appearance.
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The toffee flavour muffin contains toffee pieces and is topped with a swirl of toffee flavour frosting.
The Chocolate and Hazelnut Flavour Doughnut is packed with a chocolate and hazelnut flavour filling, then topped with white chocolate flavour icing and pieces of honeycomb coated in milk chocolate.
Greggs isn’t just for savoury or sweet snacks.
I visited Greggs’ new champagne bar – one cocktail tastes just like an iconic childhood treat
The chain is also adding several hot drinks to its menu.
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Mint Hot Chocolate and Mint Mocha are making a comeback.
The hot chocolate is a festive twist with delicious mint-flavoured syrup, a cream topping and a sprinkle of chocolate to finish.
The Mint Mocha is made with freshly ground espresso, steamed milk, hot chocolate, and mint-flavoured syrup with sweetener, and it is finished with whipped cream and chocolate sprinkles.
GREGGS FESTIVE MENU
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GREGGS has unveiled its highly anticipated festive menu and the exact date it lands in shops.
Here’s the full list of menu items being added nationwide and the date they will be landing on menus.
Festive Bake – from £2.00 or as part of the savoury bake deal from £2.85 (458 Calories) – November 7
Vegan Festive Bake (New and improved Recipe) – £2.00 or as part of the savoury bake deal from £2.85 (412 calories) – November 8
Christmas Lunch Baguette – from £3.80 or as part of the hot sandwich deal with wedges and any drink, from £4.95 (544 calories) – available now
Festive Flatbread – from £3.50 or as part of the hot sandwich deal with wedges and any drink, from £4.95 (395 calories) – available now
Gingerbread Latte – from £2.50 (204 calories) – November 7
Iced Gingerbread Latte -from £3 (165 calories) – November 7
Gingerbread Flat White – from £2.50 (124 calories) – November 7
Mint Mocha – from £2.60 (293 calories) – November 7
Mint Hot Chocolate – from £2.60 (278 calories) – November 7
Toffee Fudge Muffin – from £1.50 or as part of the sweet deal with a regular hot drink from £2.85 (367 calories) – November 7
Chocolate and Hazelnut Flavour Doughnut – from £1.35 or as part of the sweet deal with a regular hot drink from £2.85 (331 calories) – November 7
Christmas Mini Caramel Shortbread – from £2.15 (95 Calories per shortbread) – available now
FIRST CHRISTMAS ADVERT
Greggs unveiled its first-ever Christmas advert last night, and it sees celebrity chef Nigella Lawson try the bakery’s festive menu.
Customers have taken to social media to share their views on the 60-second clip.
One person said on X: “Possibly the best advert ever created”.
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Another said: “Nigella elevates Greggs to ANOTHER level”.
“Fabulous! Nobody does Christmas as beautiful as you do, Nigella! You make the festive season feel warm, cozy and special,” said a third.
However, a fourth joked: “Somehow, I can’t see the goddess queuing for any of that.”
The advert is set to an instrumental version of Carol of the Bells – a well-known Christmas carol.
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It opens with Nigella returning home to a London townhouse decorated with a traditional Christmas tree decked in Greggs baubles.
In a scene lit by fairy lights, she notes that Christmas is her “favourite time of year” before tucking into a Greggs Festive Bake.
Describing the return of the eagerly anticipated festive favourite, Nigella describes it as a “rapturous riot of flavour” with a “succulent filling”.
The advert parodies Nigella’s famed use of superlatives, which viewers of her popular cooking shows will be familiar with.
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The camera then pans over a table filled with Greggs goodies as Nigella narrates the items being showcased.
She describes “sweet mince pies, aromatic gingerbread lattes and gorgeous Christmas baguettes”.
Eagle-eyed viewers will also spot a fan favourite item making an appearance on the festive spread – the Vegan Festive Bake.
It features double-wrapped pigs in blankets with gravy and a s’mores milkshake.
The festive items, set to hit M&S from November 6, also include a range of sandwiches, snacks and sweat treats.
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The pigs in blankets, which come with a side of gravy for dipping, will set customers back a modest £2.50.
The s’mores milkshake, which is flavoured with “toasted marshmallow syrup” for a taste of the fireside, comes at a steeper £4.
The indulgent drink comes with whipped cream, biscuit crumbs, chocolate sauce and marshmallows – much like the £4.10 s’mores hot chocolate.
Meanwhile, a favourite from last year’s menu is set to return, the £7.50 Turkey and Ham Hock Toastie, which also comes in a gluten free version.
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The festive sarnie, which was a hit on social media, is getting an indulgent upgrade – with extra turkey and a cheesy bechamel sauce.
A brand-new cheeseboard toastie has been added to the mix for £6.50, with Barbers cheddar, Emmental, and Red Leicester, as well as a Christmas port and onion chutney and three cheese bechamel.
If sarnies aren’t your thing, you can also try the new Chicken Schnitzel with Roasties – served with cranberry sauce and mayonnaise for £9.95.
The chain has brought back fan favourites alongside new sweet treats.
Returning to the menu is the toffee nut latte, which starts from £4.35 for a tall size.
It’s made with toffee nut flavour syrup and steamed milk, and is finished with whipped cream and toffee nut flavour sprinkles.
The caramel waffle latte and gingerbread latte has also made a comeback and is priced at £4.35.
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All of these Christmas favourites are available hot, iced, or as a Frappuccino blended beverage.
Fans of the eggnog latte will be thrilled to learn that the drink has returned, with prices starting at £4.40.
It can be bought either hot or iced.
Hungry shoppers can pair their festive drink with the Polar Bear Cake Pop.
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It features a vanilla-flavoured sponge with digestive biscuit crumb, as well as chocolate icing and frosting to create the adorable face of a polar bear.
Meanwhile, rival coffee chain Costa has unveiled nine new items and a returning favourite that it will be adding to its Christmas menu.
How to save money on Christmas shopping
Consumer reporter Sam Walker reveals how you can save money on your Christmas shopping.
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Limit the amount of presents – buying presents for all your family and friends can cost a bomb.
Instead, why not organise a Secret Santa between your inner circles so you’re not having to buy multiple presents.
Plan ahead – if you’ve got the stamina and budget, it’s worth buying your Christmas presents for the following year in the January sales.
Make sure you shop around for the best deals by using price comparison sites so you’re not forking out more than you should though.
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Buy in Boxing Day sales – some retailers start their main Christmas sales early so you can actually snap up a bargain before December 25.
Delivery may cost you a bit more, but it can be worth it if the savings are decent.
Shop via outlet stores – you can save loads of money shopping via outlet stores like Amazon Warehouse or Office Offcuts.
They work by selling returned or slightly damaged products at a discounted rate, but usually any wear and tear is minor.
The investment is part of a multi-year retrofit programme to install its all-new long-haul cabin products across 41 Airbus A350-900 long-haul and ultra long range (ULR) aircraft
Technology has transformed how traders monitor trends. It has made it easier to collect data and come up with effective strategies. For example, the intricacies around Forex demand for constant monitoring of prices. As well, any price fluctuations can lead to significant losses or huge profits. It all depends on whether you have access to data or not.
New tools are making it easier to access accurate price predictions. These have emerged due to the challenges that traders have faced such as the inability to overcome the high volatility around exchange markets. So what are some of the advancements that are impacting how people monitor exchanges? First of all, different tools can be effective and provide the right information as value changes, for example, aggregators like Rates – all about international rates. Let’s check more about how to find out proper data and the best ways to monitor prices.
Integration
Having many tools can be challenging sometimes. Being able to integrate different tops helps you to have seamless operations. API integration offers another way to monitor currency value. It makes it easier to connect to various sources of data and get a single report.
All you need to do is ensure that the data is accurate. These APIs can also automate data extraction. They help you to update any system depending on the current trends. This provides a competitive advantage for traders.
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Exchange platforms
There are a number of platforms for exchanging currencies. You can use these to gain access to information on currencies according to Rates. They provide both historical and current insights. This makes an exchange platform a good option for anyone looking to improve the rate of success.
One of the best features is customization. So users can choose features that would be useful. For instance, you can set alerts for certain parameters. If the value of the US dollar reaches a certain amount, you will be notified.
Tailoring features according to individual needs allows you to get only information that would be useful for decision-making. Platforms such as Blumberg are useful for anyone who wants to stay up to date with the latest international rates.
Calendars
Because currencies are impacted by many events, it is important to stay informed. Calendars provide information such as inflation reports and economic events. You should be informed about any event that is likely to affect the exchange rate. These are likely to have value shifts and may offer new opportunities.
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This lets you know all about international rates. It allows you to set reminders and stay up to date with the latest trends and any upcoming events. Other important events to look out for include:
Central bank changes
Geopolitical agreements
Economic trends
The goal here is to stay up to date with any potential price movements. It allows you to modify any existing strategy to make it more successful.
Indicators
There are other features that provide various indicators to keep track of. An example is volatility indicators. These show periods when a currency is most likely to be unstable. By looking at how the price has changed over a few months, it is easy to estimate how it will fluctuate in the future.
This feature is important for those looking to invest in an exchange. Additionally, if a currency becomes very volatile, it may be wise to sell a position. Managers can use these indicators to modify their strategies before suffering huge losses.
Analysis tools
Having accurate information is not enough to guarantee success. The next step is to perform a good analysis. This helps traders to come up with effective strategies. Analysis websites can help you do this. They not only help you monitor rates but also look at the overall performance. Examples of such websites include Blumberg and CNBC.
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These also offer expert insights and opinions. This is great for those that may be new to Forex or any other market or those looking for different strategies. Aside from this, you will have access to the latest events that impact international rates. With more accurate predictions, it is easier to make informed decisions. Information should be taken from various sources before creating a report.
Automation
There is a lot of automation in many fields. As a result, the market value is about 244 billion US dollars. Automated systems are a great addition for those that want to improve monitoring. They use preset algorithms to search for patterns and execute trades on your behalf. This is once a set criteria is met.
These can pick up on volatility as well. However, success will hugely depend on the settings. So make sure to test out the algorithm before applying it on exchanges.
Mobile apps
With the majority of people opting to use mobile apps, it is no surprise that traders want the same. With the fast-paced nature of Forex and other different markets, you can now access crucial data through mobile apps. These provide real-time insights on:
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Changing rates
Estimated exchanges
Convertors
Most of these apps are focused on helping you get better results. They come with converters that you can use on the go. These are always updated, therefore providing the best conversion rates. There are so many benefits of using apps including:
Convenience
Updated data
Customization
Users can set the criteria on all international rates. This ability to filter through data allows you to save time and focus on things that will impact your strategy.
Conclusion
With all these changes, you don’t want to stay behind. Various mobile apps and websites have simplified the way traders transact. Now you have information at your fingertips. It is more convenient to make decisions on the go as prices change. AI tools offer a better way to make predictions. They also promote automation, making it easier for investors to perform more trades in a shorter time.
If you are concerned about all about international rates, then keeping up with the latest tech trends is important. It will lead to more effective strategies in a highly volatile market. Capitalize on all the opportunities you get by investing in the right tools, and Rates.fm will help you with that.
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
Indonesia and Russia have begun their first joint naval exercises, as Jakarta’s new leader Prabowo Subianto seeks a bigger role for the south-east Asian country on the global stage.
The exercises off the eastern coast of Java island, come just two weeks after Prabowo, a former general and defence minister, took over Indonesia’s presidency.
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Prabowo has vowed to maintain Indonesia’s long-standing neutral foreign policy, but he is also seeking a more influential role for the world’s fourth-most populous country, whose natural resources have put it at the centre of global clean energy supply chains.
The five-day joint exercise will be conducted in Surabaya, a port in the east of Java, and its surrounding waters, the Indonesian navy said on Monday. Russia has brought four warships, one helicopter and one tug salvage ship for the exercise, it added.
Indonesia has held joint exercises with Russia in the past as part of the Association of Southeast Asian Nations, but this week’s drills are the first bilateral effort between the two countries. Jakarta also holds annual joint exercises with the US and its allies.
“Indonesia’s first-ever joint naval drills with Russia mark a significant shift in how the country engages with the world,” said Dedi Dinarto, lead Indonesia analyst at strategic advisory Global Counsel. “Rather than solely focusing on interactions with major powers like China and the United States, the Prabowo administration is embracing a multilateral approach . . . that allows Indonesia to work with a diverse range of partners.”
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Analysts have noted that Prabowo has shown a more active inclination than his predecessor Joko Widodo to engage with world leaders and explore avenues for defence co-operation.
As president-elect, Prabowo travelled to more than a dozen countries and met leaders including Russia’s Vladimir Putin and China’s Xi Jinping. Last week, his administration announced its intention of joining the Brics grouping of major emerging economies that includes China and Russia.
“We consider Russia as a great friend,” Prabowo said in a statement after meeting Putin in July, calling to deepen ties with Moscow.
Prabowo is preparing to embark on his first official overseas trip this week, with Indonesian media reporting that he will head to Beijing, which was his first stop after winning Indonesia’s presidential election in February. He is also expected to visit the US and UK.
But Julia Lau, senior fellow and co-co-ordinator of the Indonesia studies programme at the Iseas-Yusof Ishak Institute in Singapore, warned against interpreting the naval drills and overtures to the Brics bloc of emerging economies as evidence of a tilt towards China and Russia. As president-elect, Prabowo also met Ukraine’s leader Volodymyr Zelenskyy and France’s Emmanuel Macron.
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Prabowo “is trying a balancing act vis-à-vis the US, China and Russia,” she said. The military drills with Russia are “part of the new administration’s strategy to show that they are not aligned with any great power”.
Evan Laksmana, senior fellow for south-east Asia military modernisation at the International Institute for Strategic Studies, argued that the naval exercise “benefits Russia more than Indonesia”.
“Russia is able to say they are not isolated” despite Putin’s invasion of Ukraine, he added, and “to demonstrate its regional presence” as a defence partner.
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“It may even help Russia to eventually further its ability to collaborate with China and North Korea in the event of a regional contingency.”
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