Morning Briefing: Friday 30 October 2026
- If you rely on public services: the IFS says the Budget leaves a £28bn-a-year gap and points to “a spending review that looks pretty brutal for some departments”, including real-terms cuts. Departments have already been told to find 1% savings to fund defence.
- If you hold crypto on an exchange: Binance says $6.3bn of assets were hit in what may be the largest hack ever, and has pledged to “cover all losses”. Analysts blame a North Korean unit; check your exchange’s security notices.
- If you have a pension or index fund: Alphabet lost just over $500bn in market value on Thursday after warning that AI search summaries are hurting ad sales. Big US technology stocks make up a large share of most global trackers.
Tehran Holds Vance Letter as US Floats Istanbul or Doha Talks
Iran has confirmed through the Tasnim news agency that it received JD Vance’s letter to its security chief, Mohsen Rezaei, but has not yet replied. Tasnim says Tehran still insists its seven conditions be met. The Washington Post reports t…
Binance Hit by $6.3bn Hack Blamed on North Korea
Binance, the world’s largest crypto exchange, says $6.3bn of digital assets were affected in what may be the biggest hack in history. About half has been frozen, and the exchange says it will “cover all losses”. Chainalysis and TRM Labs ha…
Xi’s Purges Leave Record Empty Seats at China Plenum
China’s Communist Party expelled a record 33 members as its fifth plenum closed. Only 279 of the 376 Central Committee members named in 2022 attended, the most empty seats in modern Chinese history. Those expelled include Zhang Youxia, for…
Serbia’s Student Victors Demand Police and Intelligence Chiefs Go
Newly elected Student List MPs have called on the heads of Serbia’s police, the BIA security agency and its anti-terror unit to stand down. The demand comes days after the movement ousted Aleksandar Vučić’s party from power. The movement f…
Alphabet Loses $500bn as AI Weighs on Search Advertising
Alphabet lost just over $500bn in market value on Thursday after it said AI summaries in search were hurting advertising revenue. Its shares fell almost 13% to a six-month low. Revenue rose 25% to $127.6bn, but profits fell 25% and free ca…
DUP Blocks O’Neill From Burnham’s Economic Council
The DUP has blocked First Minister Michelle O’Neill from attending the National Economic Council with Andy Burnham in Glasgow today. It acted after Sinn Féin joined protests that stopped an Orange Order march along the Garvaghy Road in Por…
IFS Warns of £28bn Gap and ‘Brutal’ Spending Review
The Institute for Fiscal Studies says John Healey needed to set aside another £28bn a year to cover inflation and reach 3% of GDP on defence by 2030. IFS director Helen Miller warned of “a spending review that looks pretty brutal for some…
Mahmood Angers Ministers Over Asylum Homelessness Impact
Shabana Mahmood has angered Cabinet colleagues by repeatedly refusing to say how much she expects her asylum changes to increase homelessness. Home Office ministers will meet other departments in the coming days to agree a compromise, amid…
MPs Say Government’s Obesity ‘Moonshot’ Is Doomed to Fail
The Commons health and social care committee says the government’s pledge to “end the obesity epidemic” within a decade is “doomed to fail” without a rethink. MPs want a cabinet committee chaired by the prime minister and a cross-governmen…
Nine Council Mergers Withdrawn as Reorganisation Stalls
The government has withdrawn decisions on nine of 14 planned council mergers, including Kent, Devon and Lancashire, while it seeks “legal clarity”. Only East Sussex, Gloucestershire, Oxfordshire, Warwickshire and Worcestershire will go ahe…