Tuesday evening news briefing: ‘Britain heading for industrial recession’ as interest rates rise
Good evening. Economists have warned that Britain faces an industrial recession as interest rates rise, crushing output and employment in an already struggling sector.
Elsewhere, we have the latest from the Women’s World Cup as England outclassed China to fuel their hopes of taking home the trophy.
British industry on verge of recession, bosses warn
Manufacturing activity dropped last month at the steepest pace so far this year[1], according to the purchasing managers’ index, a business survey from S&P Global. Inflationary pressures are also tumbling as the sector goes into reverse and suppliers have to compete harder for business, while manufacturers have stopped raising prices for customers.
At the same time “the rate of job losses accelerated to a seven-month high,” S&P Global said.
Fhaheen Khan, senior economist at manufacturing industry group Make UK, said the survey shows “the economy is on the glidepath to anaemic growth with industry now at risk of facing a recession.” You can follow the latest business news on our live blog[2].
British mother dies in France car crash, and five children seriously injured
Five British children whose mother was killed in a car crash are being treated in several hospitals in northern France for “serious injuries” but are “out of danger”[3], according to local authorities.
Miriam Posen, 50, from North London, was on the A26 motorway, south of Lens, with six members of her family when they were involved in a three-way accident around 6pm on Sunday. In all, four people died in the crash across the three vehicles[4], reports Henry Samuel.
England find the key with switch of formation to hammer China and fuel World Cup hopes
There were many raised eyebrows and looks of confusion around the press box at Adelaide’s Hindmarsh Stadium when England’s starting team was revealed[5], writes Tom Garry.
However, thankfully for England fans, nobody was more bamboozled than China, who simply could not cope with an improving England team in their new 3-5-2 formation as Sarina Wiegman reminded rivals why her team are a strong contender[6].
Evening Briefing: Today’s essential headlines
Captain Sir Tom Moore | The Second World War veteran’s family has defended an unauthorised addition to the spa and swimming pool[7] built at his daughter’s £1.2 million home, which has been ordered to be demolished.
- Migration | People smuggler throws migrants into English Channel after brawl[8]
- Royals | Harry and Meghan’s biographer quits royal editor role ‘to focus on new projects’[9]
- Rishi Sunak | PM accused of ‘pulling pints for PR’ as he is heckled at beer festival[10]
- Royal Preston Hospital | Midwives ‘covered up mistakes in care of newborn left disabled with brain injury’[11]
- Angus Cloud | Euphoria actor dies aged 25[12]
Comment and analysis
- Henry Hill | At last, Rishi is the most important man in British politics[13]
- Ben Marlow | Over-compensating Bank of England now risks crashing the economy[14]
- Suzanne Moore | Short-term thinking over LTNs and ULEZ is a degradation of political duty[15]
- Matthew Lynn | The rot goes far deeper than debanking[16]
- Ambrose Evans-Pritchard | Britain’s pathetic defeatists are cowering as China runs away with the clean-tech revolution[17]
World news: Moscow skyscraper hit by second drone attack in three days
A Moscow skyscraper housing government ministries was hit by a second drone attack within three days[18], according to Russian authorities. The strike, which shattered the windows of the 40-storey building, is not thought to have caused any casualties or structural damage, writes Benedict Smith.
Feature of the day
The X-rated life of Bettye LaVette: ‘I’d rather be a whore than a slut’
The great American soul singer talks about her time as a sex worker, understanding Ike Turner, and why Bob Dylan owes her more than a kiss
Business news: House prices fall at fastest pace for 14 years
House prices are falling at their fastest annual pace for 14 years[20], as borrowing costs are due to rise further this week. Annual house price growth fell by 3.8pc in July, the weakest since 2009. Tom Haynes has the full story[21].
Editor’s choice
Dear Richard Madeley | ‘My parents are getting fed up with my vegan girlfriend’s demands’[22]
Money | Five ways to tell if the stock market is about to crash[23]
Travel | As a Brit who has lived in France for 35 years, these are 10 things that are better across the Channel[24]
Sport briefing: Today’s essential headlines
- Cricket | ‘It’s pretty pathetic’: Australia hit out at England over post-Ashes dressing room snub[25]
- Ashes | Australians bemoan dubious ball change after working ‘backsides off’[26]
- Cycling | Laura Kenny not expected to compete at Paris 2024 Olympics after birth of second child[27]
- Football | Premier League clubs fear 10-year Saudi splurge will distort football market[28]
- Scyld Berry | This was the most entertaining Ashes of all-time – but not the best[29]
Sign up to our free Sport Briefing Newsletter[30] to receive the latest sporting news, direct to your inbox every weekday morning.
Three things for you
- Your View | What are your thoughts on the Government’s current net zero targets? Send a short comment and your name, with Front Page as the subject, to [email protected][31] and you might feature in an article later this week.
- Travel | From Med to mountains – a ride on Spain’s most storied railway[32]
- TV | Wonders of the Moon with Dara Ó Briain, Channel 5, 9pm[33]
If you want to receive twice-daily briefings like this by email, sign up to the Front Page newsletter here. For two-minute audio updates, try The Briefing - on podcasts and smart speakers.[34][35]
References
- ^ dropped last month at the steepest pace so far this year (www.telegraph.co.uk)
- ^ follow the latest business news on our live blog (www.telegraph.co.uk)
- ^ being treated in several hospitals in northern France for “serious injuries” but are “out of danger” (www.telegraph.co.uk)
- ^ four people died in the crash across the three vehicles (www.telegraph.co.uk)
- ^ England’s starting team was revealed (www.telegraph.co.uk)
- ^ Sarina Wiegman reminded rivals why her team are a strong contender (www.telegraph.co.uk)
- ^ defended an unauthorised addition to the spa and swimming pool (www.telegraph.co.uk)
- ^ People smuggler throws migrants into English Channel after brawl (www.telegraph.co.uk)
- ^ Harry and Meghan’s biographer quits royal editor role ‘to focus on new projects’ (www.telegraph.co.uk)
- ^ PM accused of ‘pulling pints for PR’ as he is heckled at beer festival (www.telegraph.co.uk)
- ^ Midwives ‘covered up mistakes in care of newborn left disabled with brain injury’ (www.telegraph.co.uk)
- ^ Euphoria actor dies aged 25 (www.telegraph.co.uk)
- ^ At last, Rishi is the most important man in British politics (www.telegraph.co.uk)
- ^ Over-compensating Bank of England now risks crashing the economy (www.telegraph.co.uk)
- ^ Short-term thinking over LTNs and ULEZ is a degradation of political duty (www.telegraph.co.uk)
- ^ The rot goes far deeper than debanking (www.telegraph.co.uk)
- ^ Britain’s pathetic defeatists are cowering as China runs away with the clean-tech revolution (www.telegraph.co.uk)
- ^ hit by a second drone attack within three days (www.telegraph.co.uk)
- ^ Read the piece (www.telegraph.co.uk)
- ^ falling at their fastest annual pace for 14 years (www.telegraph.co.uk)
- ^ has the full story (www.telegraph.co.uk)
- ^ ‘My parents are getting fed up with my vegan girlfriend’s demands’ (www.telegraph.co.uk)
- ^ Five ways to tell if the stock market is about to crash (www.telegraph.co.uk)
- ^ As a Brit who has lived in France for 35 years, these are 10 things that are better across the Channel (www.telegraph.co.uk)
- ^ ‘It’s pretty pathetic’: Australia hit out at England over post-Ashes dressing room snub (www.telegraph.co.uk)
- ^ Australians bemoan dubious ball change after working ‘backsides off’ (www.telegraph.co.uk)
- ^ Laura Kenny not expected to compete at Paris 2024 Olympics after birth of second child (www.telegraph.co.uk)
- ^ Premier League clubs fear 10-year Saudi splurge will distort football market (www.telegraph.co.uk)
- ^ This was the most entertaining Ashes of all-time – but not the best (www.telegraph.co.uk)
- ^ Sign up to our free Sport Briefing Newsletter (secure.telegraph.co.uk)
- ^ [email protected] (www.telegraph.co.uk)
- ^ From Med to mountains – a ride on Spain’s most storied railway (www.telegraph.co.uk)
- ^ Wonders of the Moon with Dara Ó Briain, Channel 5, 9pm (www.telegraph.co.uk)
- ^ sign up to the Front Page newsletter here (secure.telegraph.co.uk)
- ^ The Briefing (playpodca.st)