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The Latest Breaking News from FPC

Global wave of elections could hit UK financial system, warns Bank of England

Central bank raises concerns over newly elected governments as more than 80 countries go to polls this year

The Guardian - UK

Mortgage costs to jump for 3m more households, says Bank of England

The central bank stressed that UK lenders are still in a strong position to support households and businesses, even if the economic backdrop worsens.

The Independent UK

Are 25-year UK mortgages a thing of the past?

Younger homebuyers are turning to ultra-long loans, prompting fears over the risk to their finances and the wider economy

The Guardian - UK

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Labour to make fighting global heating a priority for Bank of England

Shadow chancellor to use annual Mais lecture to set out plans to green the economy if party wins election

The Guardian - UK

Bank of England governor Andrew Bailey to be grilled on interest rate hikes' threat to UK financial stability

He and other members of the bank’s Financial Policy Committee will face questions from the Commons Treasury Committee

Evening Standard

Bank of England To Assess Risks AI Poses To UK Financial Stability

AI and machine learning have been used across the financial sector for at least a decade, such as to help detect fraud and money laundering.

International Business Times UK

Bank of England warns AI could pose financial stability risks

‘Careful monitoring’ needed because of rapid pace of artificial intelligence and machine learning

The Guardian - UK

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Duo quits high-paying jobs, scripts safe-to-eat veggie farming success

They later formed a 354-member farmer-producer company and a 11-member FIG to increase production of safe-to-eat foods. The FIG produces 400-500 kg of veggies daily from 20 acres, and tests samples to ensure no residues. They use natural alternatives when necessary and plan to open outlets to market farm produce…

The Hindu

Bank of England flags concerns over longer mortgages and rise in credit card use

UK central bank’s financial policy committee says borrowing trends could lead to debt troubles in near future and longer term

The Guardian - UK

FIRE on the School Restricting "Dont Tread on Me" and Firearms Policy Coalition Patches

From FIRE's letter sent yesterday to the Superintendent of Harrison School District Two in Colorado; I generally trust FIRE's factual accounts in such matters, and I think its legal analysis here is spot on: The Foundation for Individual Rights and Expression (FIRE), a nonpartisan nonprofit dedicated to defending freedom of…

Reason

New Brexit checks will make food price inflation even worse, warns industry

Firms will have to pass on extra costs of red tape, warns Fresh Produce Consortium

The Independent UK

Post-Brexit import checks risk further pushing up food prices – industry group

Traders will not be able to absorb estimated £10m extra cost on goods entering from EU, warns Fresh Produce Consortium

The Guardian - UK

Assam’s Kokrajhar district feasts on mushroom, for health and wealth

Assam gave fungi cultivation an investment boost in 2021, as it introduced mushrooms in the midday meal scheme.

The Hindu

UK judges to be given powers to dismiss oppressive Slapps lawsuits at early stage

Amendments to bill address concerns that strategic lawsuits against public participation stifle free speech

The Guardian - UK

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Irish Mirror

Irish community group wins High Court fight over Aughinish Alumina expansion

Futureproof Clare took a judicial review against An Bord Pleanala's greenlight for the expansion

Reason

'Assault Weapon' Bans Look More Legally Vulnerable Than Ever

A preliminary injunction in Illinois may signal the demise of a long-running public policy fraud.

Reason

Washington Is Now the 10th State With a Logically and Constitutionally Dubious 'Assault Weapon' Ban

A federal lawsuit notes that the new law draws arbitrary distinctions and targets guns in common use for legal purposes.

The Guardian - UK

Bank of England calls for tougher pension scheme rules after crisis

Bank wants to avoid repeat of situation that followed Kwasi Kwarteng’s calamitous mini-budget

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Newsroom.co.nz

Black Fern hero's comeback makes her a little Blue

The hat-trick hero of the Black Ferns’ 2017 World Cup win, Toka Natua is back in rugby – finding out the pros and cons of playing as a mum. And the double international is ready for her next chapter in France.

Newsroom.co.nz

Possum hunter leaves bush for Blues

From purging possums and saving kiwi, to leading the Tui and turning out for the Blues, rugby record breaker Krysten Cottrell has a fascinating combination of careers, Suzanne McFadden discovers.

The Guardian - UK

The Bank’s newfound appetite to tackle risk is welcome, if a little late

The financial policy committee has decided to take on ‘shadow banking’ which has been thriving since 2008

The Independent UK

Bank of England to run stress tests on pension funds, insurers, and other lenders

More needs to be done to ensure that the non-bank financial sector does not pose a threat to the UK’s financial stability, Bank says

The National (Scotland)

Millions of mortgage holders to see payments jump, Bank of England warns

AROUND four million mortgage borrowers are set to see their monthly payments jump ...

The Independent UK

About 4m mortgage borrowers to see repayments jump next year, Bank warns

People with a fixed-rate home loan due to expire at the end of 2023 are facing average monthly repayment increases of about £250.

Reason

A Federal Judge Suggests That Oregon's 10-Round Magazine Limit Does Not Implicate the Second Amendment

The new ban, which has been blocked by a state judge, so far has fared better in federal court.

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