More Reform UK transactions worth millions reported to National Crime Agency

Exclusive: Bankers have raised potential money-laundering concerns over loans and donations involving senior party figures

A host of transactions involving Reform UK’s most senior figures and donations to the party caused bankers to report potential money-laundering concerns to the National Crime Agency, a Guardian investigation has found.

On Tuesday, the Guardian revealed that the undisclosed £5m gift provided to the Reform leader, Nigel Farage, by a cryptocurrency billionaire shortly before the 2024 general election was reported to the NCA.

One relates to a £1m donation made to Britain Means Business, a fundraising organisation for Reform UK, before the last general election. Half of the £1m was then transferred by Tice, as director of the company, to Reform UK. Renamed from Leave Means Leave, Britain Means Business is a company that is used to help fund Reform. The £1m seemingly came from the aristocrat and Reform UK donor Fiona Cottrell. In this instance, the Guardian understands bank staff were not satisfied that the funds had ultimately come from her. The NCA has sought help from a foreign partner agency to trace the original source of the funds.

Two other SARs relate to a loan from George Cottrell to Tice. The loan was made shortly before Tice finalised a property purchase and made a party donation, and was not repaid until after those two transactions were completed, according to sources. George Cottrell is the son of Fiona Cottrell, and is a convicted fraudster, former deputy treasurer of Ukip and close associate of Farage.

A fourth relates to the £5m gift from the Thailand-based businessman Christopher Harborne to Farage, which was first revealed by the Guardian in April.

Continue reading...

Treasury yet to do due diligence on finding extra money for UK’s Nato spend

How to hit the 3.5% of GDP defence spending promise would be a matter for ‘the next prime minister’, MPs told

The Treasury has as yet carried out no analysis of the trade-offs necessary for the UK to hit the 3.5% of GDP defence spending promise made to Nato, the department’s chief secretary has said.

Under robust questioning in a joint session of the Treasury and defence select committees on Wednesday, Lucy Rigby repeatedly said that how to fund additional defence spending would be a matter for “the next prime minister”.

Continue reading...

IMF upgrades UK growth forecast as fears over impact of Iran war diminish

July update projects GDP growth of 1% this year, making UK the third fastest-growing economy in the G7

The International Monetary Fund (IMF) has upgraded its growth forecast for the UK, while leaving those for other G7 countries weaker or unchanged, amid hopes the economic impact of the Iran war may be less severe than feared.

In a July update of its World Economic Outlook, which was finalised before the latest outbreak of hostilities in the Middle East, the Washington-based organisation projected UK gross domestic product to grow by 1% this year – up 0.2 percentage points from its April forecast.

Continue reading...

Which? finds 150 potentially lethal baby products sold online

UK consumer group says lives are at risk because platforms fail to prevent dangerous items reaching customers

Babies are being put at risk by dozens of potentially lethal infant products sold to UK parents on major online marketplaces, an investigation has found.

The consumer champion Which? identified 150 products, including self-feeding prop feeders that pose a choking risk and baby sleep pillows linked to suffocation.

Continue reading...

Prince Harry gets burned in his mission to ‘slay dragons’ of British media

Harry claimed victory in two earlier legal actions but he and his co-claimants lost their lawsuit against ANL on Tuesday

The Duke of Sussex has variously described his long-running legal battles with certain sections of the British media as a “mission” and a “life’s work”.

“I’ve been told that slaying dragons will get you burned,” was his defiant response when he claimed victory against Mirror Group Newspapers in December 2023 over historic allegations of unlawful information gathering, adding it was a “worthwhile price to pay”.

Continue reading...

Revealed: Farage’s £5m gift reported to UK crime agency over money laundering concerns

Exclusive: Latest Guardian revelation about gift from cryptocurrency tycoon comes as Reform UK leader forces byelection

The £5m gift to Nigel Farage by a cryptocurrency billionaire was reported to the National Crime Agency by bankers who were concerned it may have been laundered money, the Guardian can reveal.

The disclosure will put further pressure on the Reform UK leader, who is awaiting a decision by the standards commissioner over whether his failure to declare the money breached parliamentary rules.

Continue reading...

Labour, Tories and Lib Dems refuse to stand in byelection with Farage’s resignation labelled ‘desperate stunt’ – as it happened

Reform UK leader to quit as MP but stand again, saying the people of Clacton ‘should be the judges of my actions’

Q: Do you think the parliamentary commissioner for standards should investigate Nigel Farage’s gifts from George Cottrell?

Badenoch said that was a matter for the commissioner.

[Farage is] hinting at press regulation. For all of the criticism and the attacks, and I would even say abuse that I’ve got from the press, I’ve never once recommended curbing our free press. I think this is one of the amazing things about this country.

I would be very worried about a Reform government using government power to control the press. I don’t think that that would be right.

Continue reading...

Prince Harry begins visit to the UK as ruling expected in court battle with Daily Mail publisher – latest updates

Result of court case against Associated Newspapers Limited expected this afternoon

Prince Harry has arrived at Chatham House for the first in a series of week-long events celebrating his Invictus Games and ahead of an imminent court ruling.

Harry looked business-like as he stepped from his vehicle at around 1.15pm ahead of the highly-anticipated judgement in his High Court case against the Daily Mail’s publisher expected shortly on Tuesday afternoon.

Harry’s relationship with Laura Gerard-Leigh

Harry’s relationship with Chelsy Davy

Continue reading...

Bank of England plans to ease capital rules despite AI stability fears

Central bank’s financial policy committee members voice concern on trimming big lenders’ financial buffers

The Bank of England is planning to loosen capital requirements for major UK lenders, even as policymakers expressed concern about the threat to financial stability from rapid AI developments and debt-fuelled stock investments.

The central bank said on Tuesday it was looking to remove and loosen some rules introduced after the 2008 financial crisis that determine the size of the financial cushion required to absorb losses and protect consumers and taxpayers when things go wrong.

Continue reading...

Thames Water creditors ‘will bid for company even if it is nationalised’

Group of 100 investors still discussing £10bn rescue proposal with officials from regulator Ofwat, says report

Thames Water’s creditors are willing to pursue their bid for the debt-laden company even if the probable next prime minister, Andy Burnham, brings it into temporary nationalisation.

The group of 100 institutional investors, which hold about £14bn of Thames’s senior debt, are still discussing a £10bn rescue proposal for the struggling company with officials from the regulator Ofwat, and they have held meetings in recent days.

Continue reading...

Farage warned attack against ‘establishment’ over unregistered gifts could lead to harsher punishment – UK politics live

Reform UK leader claims he is victim of ‘hit job’ as parliamentary standards commissioner investigates £5m donation

On the subject of Andy Burnham, the Financial Times is running a story today saying the access talks his team is holding with senior civil servants, intended to help Whitehall departments get ready to implement the new PM’s policy agenda, are being hindered by the fact that Burnham has not decided who will do the top cabinet jobs.

In the story, Lucy Fisher, George Parker and Anna Gross say:

Talks have not yet formally started with the Treasury and Burnham’s refusal to nominate a chancellor has complicated transition planning.

One Labour figure complained Burnham’s operation was “skeletal”, adding: “Access talks require a shadow cabinet. Burnham needs to nominate key people in advance or he cannot have meaningful talks” ….

Yes. And look – I’m not going to go into what we discussed privately, but everything I’ve seen from Andy publicly suggests that he knows that welfare reform is absolutely necessary … [because] it’s fundamentally about the life chances of a whole generation of young people.

And if we think the best option and best opportunity that we can gift as a country to a generation of young people is a life on benefits – are we serious?

My sense is that the appetite, both within the parliamentary Labour party and the new administration, will be absolutely up for doing this.

One of those is how we support young people. I will not defend an education system that is overly focused on the university route and does not lay out paths to technical qualifications for our young people. Too many young people get to year 10 at school, and they can’t see where school is taking them, because the system isn’t focusing on those young people.

And then, at 16, I believe we need the guarantee of a work placement for 16 to 18-year-olds, apprenticeships for every 16 to 18-year-old who wants one, and what I’ve done in Great Manchester is something that might be looked at more broadly, free bus travel for 16 to 18-year-olds, so that they can access those opportunities.

Continue reading...

Wegovy weight-loss pill goes on sale on UK high street and online pharmacies

Thousands of people begin receiving their first deliveries of once-a-day medication made by Novo Nordisk

A once-a-day Wegovy weight-loss pill has gone on sale at high street and online pharmacies in the UK, but is not yet available on the NHS.

Thousands of people began receiving their first deliveries of the pill, made by the Danish drugmaker Novo Nordisk, on Monday. It contains the same active GLP-1 ingredient as the Wegovy jab, semaglutide, and is similarly effective, according to studies.

Continue reading...

‘Smart operator’: how BT’s first female CEO helped turn company around

The firm’s share price has risen 80% under Allison Kirkby’s leadership – but pressure remains for her to deliver further growth

If timing is everything, then Allison Kirkby may have judged it perfectly.

Since becoming BT’s first female chief executive more than two years ago the company’s share price has climbed 80%, an investor-pleasing turnaround that has seen Kirkby well-rewarded with a pay and bonus package of £5.6m last year, the largest for a boss of the telecoms company in well over a decade. However, there are questions over how much credit Kirkby can take for the apparent revival of the business.

Continue reading...

‘Nepotism and bias’ rife in England and Wales police leadership, report finds

Inquiry co-chaired by David Blunkett uncovers loss of focus on fighting crime, plus low standards and need for reform

Police leadership in England and Wales is plagued by “nepotism and bias” and too many chiefs have lost focus on fighting crime, a government-backed report has found.

The inquiry, co-chaired by former home secretary David Blunkett, found a reset was needed at all levels, with scores of top officers facing misconduct inquiries.

Continue reading...

Minister calls on Burnham to show path to 3.5% target on UK defence spending

Dan Jarvis, who wants to stay on as defence secretary, says he is confident PM-in-waiting values national security

The new defence secretary, Dan Jarvis, has called on Andy Burnham to increase defence spending dramatically from 2030 and “evidence the trajectory” towards a Nato target that would mean £25bn a year more for the military by the middle of the next decade.

The former paratrooper said he was confident that the prime minister-in-waiting valued national security, as he openly lobbied him for cash that would probably have to come from cuts elsewhere.

Continue reading...

Mobile internet coverage in UK worse than any EU or G7 country, Which? says

Analysis finds services cheaper but country ranks 57th in network performance and 70th for download speeds

British holidaymakers watching online videos while they sit on a European beach this summer are likely to be pleasantly surprised: the signal should be better than at home.

Mobile coverage in the UK is worse than in any of the 27 EU member countries, and every other member of the G7 group of large economies, according to analysis by consumer group Which? of data from Opensignal.

Continue reading...

Iran seeks to tighten control over strait of Hormuz alongside Khamenei funeral

IRGC warnings force ships to turn back as Tehran uses passages from Qur’an to send messages to Gulf delegations

The diplomatic and military contest for control of the strait of Hormuz has intensified alongside the dramatic scenes of mourning for the death of Iran’s supreme leader Ali Khamenei, with some claiming Khamenei’s legacy ultimately depends on Tehran’s grip on the waterway, and so the global economy.

Over the past 48 hours, as crowds have swirled in Tehran, the Islamic Revolutionary Guard Corps appeared to have started to plug a gaping and growing gap in their monopoly control of the strait.

Continue reading...

Trump’s $2bn bonanza heralds the rise of political grifters across the west

With voters embracing leaders who brazenly monetise public office, experts say an ethical code is breaking down

Donald Trump came to office in 2017 after decades of bankruptcies and business failures. Yes, he was rich, but his latest financial disclosure, published this week, suggests he will depart billions richer.

In the first year of his second term, he made more than $2bn from Trump hotels, Trump golf courses, Trump cryptocurrency, Trump watches, Trump cologne, Trump Bibles and more.

Continue reading...

Cow corner: cricket match abandoned after runaway bull stops play

Match at Burnopfield near Newcastle called off after 800kg young bull escaped from farm and stormed playing field

A cricket match had to be abandoned after a runaway bull stormed the playing field and charged at players.

The North East Premier League fixture at Burnopfield Cricket Club near Newcastle was called off on Saturday evening despite efforts to remove the animal from the ground.

Continue reading...

What impact will Andy Burnham have on Zack Polanski and the Greens?

Voters disillusioned with Starmer’s Labour were tempted by the Greens – but Polanski’s party fears the affable, left-leaning Burnham could win them back

The shift was notable. A week after Keir Starmer said he would resign, YouGov polling showed Labour up two points and the Greens down by the same amount. Might an Andy Burnham premiership mean a rethink for Zack Polanski’s party?

The short answer is it is too early to know, particularly in an era of unprecedented political volatility and the seesawing poll numbers that come with it. This year alone, a five-point Labour lead over the Greens has become a similar margin in favour of the Greens, and then a seven-point advantage for Labour.

Continue reading...