The Bank of England is expected to raise interest rates for the first time in over three years in order to tackle the inflation shock caused by the Iran war. Inflation is predicted to rise further over the coming months. So economists reckon the nine policymakers on the Monetary Policy Committee have little option but to increase the bank’s key rate to 4% from 3.75%. The increase anticipated Thursday would be the first since August 2023. The pressure on rate-setters has grown steadily over recent months. But the rise in inflation to an 11-month high of 3.5% in September cemented market expectations of a rate hike this month.
A tanker has been struck by projectiles off Qatar's coast in the Persian Gulf, according to the British military. The attack occurred Wednesday, but the crew's status remains unconfirmed. The United Kingdom Maritime Trade Operations Center reports the attack took place 50 nautical miles north of Madinat ash Shamal. Meanwhile, Iranian state television claims two tankers and a towboat struck naval mines in the Strait of Hormuz. The report also claimed the Revolutionary Guard seized two U.S. drones.
The French prime minister’s office says that a flight from Ireland to Italy was diverted to a military air base in France because of a bomb threat. The Aer Lingus flight from Dublin to Rome was rerouted to Evreux in Normandy on Thursday. It landed safely. Flight tracking sites showed the plane making several loops before heading to the base. This incident follows several hoax bomb threats across Europe this week. The affected airlines include LOT, Scandinavian Airlines, Wizz Air and Ryanair. These threats come amid increased geopolitical tensions and other disruptions such as drone incursions and supermarket attacks.
French trade unions are joining forces for more nationwide strikes and demonstrations for higher wages and in support of the high school protest movement. Major rallies are expected in Paris, Lyon, and Marseille on Thursday after more than a month of protests across France. Transportation chaos is expected and some schools could be shut as teachers join the strike. French Interior Minister Laurent Nuñez said that 70,000 police are being deployed. They are being backed by armored vehicles, drones and helicopters. France’s main unions warned in a joint statement that the country is on the brink and anger is mounting.
Former Bangladeshi Prime Minister Sheikh Hasina has told The Associated Press that she remains committed to returning to Bangladesh from exile in India in December. That's despite being sentenced to death over her government’s deadly crackdown on protesters. Hasina fled to India after student-led protests forced her from power in August 2024 and has remained there ever since. Bangladesh has sought her extradition. But India hasn't responded. Hasina said in emailed responses to the AP on Wednesday that she will return even if it means she will be put to death. She has accused the incumbent government of Prime Minister Tarique Rahman of arbitrary arrests of her supporters.
President Donald Trump was publicly humbled by inflation in Tuesday’s midterm elections, as public anger over rising prices caused a blistering set of losses for Republicans. Most voters said that Trump’s own policies had smothered growth and drove costs even higher, according to The AP Voter Poll, a survey of more than 100,000 midterm voters. The president’s message that the fault lay with his predecessor, Democrat Joe Biden, didn’t land. About two-thirds of voters said inflation was more because of Trump’s policies. Democratic victories in Tuesday’s midterms signaled that most voters don’t believe the economy or Trump is working for them.
FILE - The facade of the Bank of England is seen in th London on Nov. 2, 2017. (AP Photo/Matt Dunham, File)
Turkey is spotlighting its renewable energy efforts as it hosts the upcoming U.N. climate summit. The country is expanding solar and wind power, but critics point out its continued reliance on coal. Turkey's Energy Ministry says coal accounted for 33% of electricity last year, while solar and wind made up nearly 23%. The Kalyon Karapınar Solar Power Plant in Konya, operational since 2023, is a key part of this shift. However, campaigners argue that Turkey lacks a clear plan to phase out fossil fuels. The COP31 summit, which starts on Monday in the coastal city of Antalya, will focus on turning climate commitments into action.
Farmers and community elders in coastal Kenya fear a proposed mining project could threaten their livelihoods and a sacred forest where their ancestors are buried. The government is seeking a developer for deposits containing rare earth minerals used in electric vehicles, wind turbines and defense technologies. Residents say they lack information about where mining would take place, whether they would have to move and how their land and traditions would be protected. Kenya hopes mining will create jobs and boost its economy, but questions about consultation, compensation and environmental safeguards remain unanswered.
Lockheed Martin to pay $29.5 million to settle federal claims it discriminated against white workers
Defense contractor Lockheed Martin has agreed to pay $29.5 million to settle claims by President Donald Trump’s administration that it discriminated against white workers through its efforts to promote diversity and equity in an internal bonus program. Lockheed Martin will pay $22 million to the U.S. government to resolve claims that it failed to comply with anti-discrimination requirements in its federal contracts, according to the settlement announced Wednesday by the by the Justice Department and the Equal Employment Opportunity Commission. In addition, Lockheed Martin will pay $7.5 million to more than 1,000 affected employees as part of a settlement with the EEOC.