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In today’s newsletter: Rising inflation and interest rates mean real pain for homeowners – with few signs of relief on the way
Good morning. Some call it a catastrophe. Others prefer crisis, “ticking timebomb” or a plain, old-fashioned nightmare.
Whichever disaster movie term you prefer, this week’s news from the UK mortgage market is not at all good, with lenders’ interest rates soaring and millions of homeowners facing a huge jump in their monthly payments when their fixed-rate terms expire.
Titanic submarine | Canadian aircraft have detected “underwater noises in the search area” of the missing submersible Titan, the US Coast Guard has said, amid US media reports of regular “banging sounds”. Search efforts for the five people on board continue, but the air supply is dwindling, if they are still alive.
Andrew Tate | Romanian prosecutors have sent Andrew Tate, his brother Tristan and two other suspects to trial on charges of human trafficking, rape and forming a criminal gang to sexually exploit women. The controversial influencer denies all allegations.
Media | The Conservative party has been accused by 300 news organisations from around the world of setting a “dangerous precedent” internationally, after it introduced a £137 fee to report on its annual conference.
Farming | An investigation has found that a major supplier of chicken to UK supermarkets is sourcing birds dosed with antibiotics “critical to human health”, as concerns grow about the spread of deadly superbugs.
US news | Hunter Biden, the son of Joe Biden, will plead guilty to three federal crimes according to the US justice department. Biden is pleading guilty to two counts of wilful failure to pay income tax and a separate federal firearm offence, reports Reuters.
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