We will remember them

They shall grow not old, as we that are left grow old,
Age shall not weary them, nor the years condemn.
At the going down of the sun and in the morning,
We will remember them.

MARKETS

Data: Google Finance, 7-day Market Close

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PROJECT WATCH

🌊 EnQuest hands out HVAC contract for continental shelf work. Read more

🏠 Homes England open tenders for £290m Sheffield projects. Read more

🔌 Seaway7 win cabling contracts for East Anglia Two offshore wind. Read more

ECONOMY & FINANCE

Rinse and repeat: New record for house prices
It’s official – UK house prices have hit a new all-time high, according to Halifax, the UK's biggest mortgage lender. And no, the homes aren’t made of gold, we checked. The average price of a cosy little number (or UK home) now sits at a record £294k in October, dwarfing the previous peak from June ‘22.

We dread to think how many Rightmove tabs it took to pull that data, but Rachel Reeves' recent budget may have a thing or two to say about the future of our perpetual race for space. Despite the looming chill from higher mortgage rates, house prices have still managed to inch up by 0.2% last month – the fourth month of steady growth. There are whispers that the chancellor's budget, with all its new stamp duty tinkering, may finally start to slow the residential juggernaut.

Renegade UK might sidestep Trump tariffs
Looks like the UK might just sidestep Donald Trump's plan to hike tariffs on foreign goods (lucky us, right?). The returning Republican president may be eyeing an eyebrow-raising 10% increase on global imports, with this figure soaring like Elon Musk's next rocket launch to a whopping 60% for China. While most of the world's leaders are reaching for the panic button faster than Americans reached for their big red hats —there's a glimmer of hope the UK could be shielded, at least for now.

New Jersey governor Phil Murphy, speaking on Sunday Morning with Trevor Phillips, gave some surprisingly good news for us Brits. Though Murphy admits he can't speak for Trump (there aren’t many who can), his gut tells him that the UK, former EU renegade that it is, might just get a pass. And let’s face it, gut feelings are about as reliable as kitchen recyclables at Downing Street these days… looking at you, Boris.

Murphy reckons Trump has "sympathy with the renegade who has courage" – so perhaps Brexit has finally paid off, albeit in the weirdest way possible. Sounds as though the rhetoric is, “I like you, you’re mental”. Right now, our EU cousins are looking at a potential €150bn trade hit from Trump’s new tariff plans.

BoE shaved another 0.25% off interest rates
The Bank of England (BoE) has done it again, trimming interest rates down to a rather more palatable 4.75% — the lowest they’ve been in over four years. Finally, inflation has defied the cost-of-living crisis vibes, dipping to a cosy 1.7%, comfortably below the 2% target it’s been flirting with for three years. This rate cut marks the second 0.25% drop since August. It’s slightly better news for anyone managing a mortgage or hoping to clamber onto the housing ladder—£32 saved a month for the average UK homeowner might not be champagne-popping news, but it’s something.

The Bank’s Monetary Policy Committee didn’t quite see eye to eye on this. Sure, most of them (8–1) were well in favour, but Hawkish Catherine Mann was having none of it, preferring to hold the rate at a nice, round 5%. No winning votes for her, though.

Governor Andrew Bailey reminded us that while inflation is behaving itself (for now), they’re not going to go wild with these cuts. Heaven forbid a situation where we get too comfortable. Because, according to Bailey, if your 1% mortgage feels like some long-lost fairy tale à la Cinders post-midnight, you're not wrong.

POLITICS

Youth gambling on an upward 32-spin
A recent survey by the UK Gambling Commission reveals troubling trends in youth gambling, with the number of 11-17-year-olds showing signs of problem gambling more than doubling over the past year. Nearly 10% of respondents admitted to lying to family and friends about their gambling, and about 1 in 12 reported arguments stemming from it.

Conservative MP Sir Iain Duncan Smith has criticized gambling companies’ “ruthless” targeting of young people, and the Gambling Commission has supposedly stepped up protections. With youth gambling increasingly linked to poor academic performance and mental health issues, the government is under scrutiny to strengthen regulations to curb these casino cowboys.

Reparations debate heats up in Samoa
As Commonwealth leaders gathered in Samoa, King Charles and the Prime Minister faced intensifying calls for reparations from former colonies. CARICOM (the Caribbean Community) has outlined a 10-point plan for reparations that includes a formal apology, economic development aid, and a program to help descendants of enslaved Africans return to their ancestral lands.

The push for reparations is fueled by a long history of colonial exploitation. While King Charles has expressed regret over “the painful aspects of our past”, the UK government continues to avoid a formal apology or reparative actions.

Big tobacco blow smoke in the faces of UK cancer advisory
The UK government faces scrutiny after it was revealed that Ruth Dempsey, a former Philip Morris International (PMI) director, a bigger one of the big tobacco companies, is now advising the government on cancer risks through the Committee on Carcinogenicity.

Public health experts argue her appointment could undermine the committee’s impartiality and violate the World Health Organization’s guidelines, which advocate minimal contact with the tobacco industry. As the UK considers stronger regulations on tobacco and vaping, perceived influence from the industry could erode public trust in government health policies.

ACROSS THE POND

Trump enterprises makes millions from Trump campaign
It's been over three decades since the Trump Shuttle (Trump’s airline) went the way of the dodo, yet President Donald Trump has discovered the fine art of moneymaking with a nostalgic aviation twist. Records from the Federal Election Commission reveal his campaign forked over $7.1m to his businesses by September's end. The lion's share – a cosy $5.9m – was for his renting his vintage 1991 Boeing 757.

The Secret Service, with its duty to shadow the now president like an unpaid intern, has shelled out nearly $1.6m towards Trump’s aviation escapades by the close of September. And it doesn't stop, with another $2.9m waiting in the fiscal wings.

Not to be outdone by mere jetting around the sky, Mar-a-Lago, Trump's glittering Florida retreat, has brought in a smart $907k. It seems hosting the Trump Save America Joint Fundraising Committee for a day-long foie gras extravaganza in February aided this tidy sum. Trump's Bedminster golf club also clubbed in with a $106k hole-in-one.

In total, a sweet 16 of Trump's businesses pocketed payments for everything from paltry parking spots to plush lodgings. Out of 183 transactions, 144 led to a neat $5.5m entering from Trump’s campaign funds.

Clean sweep on swing states
Donald Trump has once again found himself at the winning end, claiming Arizona in a sweeping victory across all seven battleground states. After days of nail-biting counting, the US media announced his win on Saturday night, further inflating his electoral vote tally to a comfortable 312 over Kamala Harris’s 226 – a score any politician would be chuffed with.

In a deja vu of sorts, Trump managed to reverse his fortunes in Arizona - a state he lost in 2020 to Joe Biden - recapturing it along with Pennsylvania, Michigan, Wisconsin, Georgia, North Carolina, and Nevada. Arizona, once a solid Republican fort, had drifted into Democratic hands, but with a pinch of politics and promise, Trump turned the tide.

Market reactions to election
Donald took the election, and with him a wave of market euphoria as US shares hit staggering highs. With the dollar seeing its best gain in eight years, it seems Trump’s victory is making waves beyond political punditry. Even Bitcoin, everyone's favourite volatile crypto, joined the party, zooming to an all-time high.

The stock market was also positively abuzz following Trump's victory speech. American bank stocks surged while the dollar flexed its muscles against the pound, euro, and yen. Meanwhile, the FTSE 100 started optimistically yet fizzled out by day’s end – a bit like me after my third cup of tea. Across the continent, the euro took a nosedive, and Asia faced mixed reactions, with Japan’s Nikkei index climbing while Hong Kong’s Hang Seng stumbled.

TECH

The Bat Shed of Buckinghamshire: HS2’s not-so-nifty nod to nature
This £100m, 1km structure along the HS2 route will protect the flight path of bats in Batingham *Buckinghamshire, allowing winged residents to glide safely over the railway without disruption.

While HS2 chairman Sir Jon Thompson claims there’s no proof sonar *so far, that high-speed trains interfere with bats, this costly “shed” was necessary to satisfy Natural England. HS2 has had to obtain over 8,000 permissions for phase one alone. It may seem batty, but for those bats, it’s one less battle on the flight back to a bedlem-free bed.

Brits build a bigger lens
The UK Astronomy Technology Centre has signed up for its biggest role yet, helping to create the Extremely Large Telescope (ELT) - large wasn’t large enough. Destined for the Atacama Desert in Chile, it aims to peer so far back in time that we may finally catch a glimpse of the Big Bang. It’ll be so extremely large that even a single mirror segment matches the size of the Roman Colosseum.

Wooden satellites, Japan’s timber tech goes orbital
Japan is redefining space-age materials with LignoSat, the world’s first wooden satellite, crafted from honoki (magnolia) wood. The timber satellite is now floating to the International Space Station, set to orbit for six months.

Takao Doi, an astronaut and researcher at Kyoto University, hopes the test will pave the way for timber construction on the Moon or Mars, with grand ambitions for lunar log cabins within years. Notably, at the end of its life, LignoSat will burn up in the atmosphere, producing less pollution than its metallic peers.

Musk, MAGA, and Markets and Tesla at $1tn with Trump
After months of high-profile endorsements, campaign funding, and $1m a day to random voters, Musk has emerged as one of Trump’s most powerful allies. The president has hinted at giving Musk a leading role in a “government efficiency commission”, essentially making Musk a gatekeeper for sweeping cost-cutting reforms.

Naturally, Tesla stocks are going to the moon at least before Mars. With the prospect of deregulated, potentially Musk-friendly policies on the horizon, Tesla has rocketed to $1tn. So, it seems that while some are looking to the stars, others are simply backing them on Wall Street.

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WORLD

Humanity is ‘torching the planet’
Brace yourself, as 2024 is set to be the hottest year ever recorded. Temperatures are surpassing previous records. UN Secretary-General António Guterres, ever the climate realist, warns that humanity is “torching the planet” and paying the price.

Prince William is set to attend next year’s COP30 conference in Brazil, where he aims to “spread urgent optimism” about the environment, building on the legacy of his Earthshot prize and his recent climate-focused trip to South Africa.

Australian breakdancer Rachael Gunn, or “B-girl Raygun”, is hopping off the world stage after a widely criticised performance at the Paris Olympics. Her routine, featuring a quirky kangaroo hop, missed the mark with audiences and sparked a viral petition for apologies from Australian Olympic officials. We’ll miss the sport that’s for sure, with breakdancing dropped from the Los Angeles 2028 lineup.

India lifts ban on The Satanic Verses
In a twist worthy of Rushdie himself, India’s 35-year ban on The Satanic Verses has been lifted—not by a change of heart, but due to a missing file. The Delhi High Court ruled to remove the import ban on Rushdie’s controversial novel after officials admitted they couldn’t locate the original notification.

The novel, first banned in 1988, became infamous due to its portrayal of religious figures and the political outrage that followed, including violent protests and even a fatwa. Could it reignite conversations over art, censorship, and religious sensitivity in India?

China’s biopic on Xi Jinping’s father
China is paying homage to President Xi Jinping’s father, Xi Zhongxun, in Time in the Northwest, a sweeping, 39-part television drama tracing his rise from rural Shaanxi to Chinese Communist Party (CCP) leadership.

The series arrives at a time when the Chinese government is encouraging young people to rekindle the revolutionary zeal of previous generations, which stands in stark contrast to recent cultural trends such as tangping (or “lying flat”), a lifestyle choice that pushes back against relentless ambition and burnout.

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Cuppa Chat: Cheat Sheet

🇬🇧🦛 British man Roland Cherry survives a terrifying hippo attack on the Kafue River in Zambia, suffering multiple severe injuries. He is now fundraising £20,000 for the Mtendere Mission Hospital that saved his life.

🦇🏃‍♂️ Vampire bats have shown how they use blood for energy, sprinting up to 30 metres per minute on a treadmill. Their metabolism heavily relies on protein-rich blood rather than carbohydrates and fats.

🛑🧩 New York Times Tech Guild strikes against "unfair labour practices", urging a boycott of Wordle during their action.

📧🕊️ Elwood Edwards, the voice behind AOL's iconic "You've got mail" message, has passed away at 74. He recorded the famous phrase in 1989, which was later used as the title for the 1998 film starring Tom Hanks and Meg Ryan.

🏢🚡 A towering lift test facility near Rottweil, Germany, stands at 807ft, rivalling London's Shard. There’s also a panoramic observation deck, attracting tourists with views of the Black Forest and the Swiss Alps.

🐧🚨 A lost emperor penguin was discovered in a western Australian town, having travelled over 2,100 miles from Antarctica.

🐊🕰️ Following the death of Cassius, the world's largest captive crocodile, scientists are investigating his age, initially estimated at up to 120 years.

🚛🇯🇵 Japan plans an automated "conveyor belt road" cargo corridor between Tokyo and Osaka.

⚽️🤫 Wrexham player James McClean chose not to stand with his teammates during the Remembrance silence due to his beliefs about the British Army's role in The Troubles.