Morning Briefing: Monday 2 November 2026
- If you fly with Ryanair next year: its chief executive expects European fares to rise by 10%, “maybe even 20%”, in 2027 as cheap fuel hedges expire. Unhedged jet fuel is at $170 a barrel, and the airline says higher fares will not fully cover a €2bn rise in its fuel bill.
- If you have a mortgage or savings: the Bank of England announces its next rate decision on Thursday 5 November. Bank Rate stands at 3.75%; three of nine committee members voted for 4% in September, and the Bank says the Iran war has pushed up energy prices and inflation.
- If you are a legal migrant, or employ one: the home secretary puts final settlement rules before MPs today. Most applicants are expected to wait ten years rather than five for indefinite leave to remain, some up to fifteen, with social care workers already in the UK likely to be exempt.
Iran says two tankers hit mines and caught fire in Hormuz
The Revolutionary Guards say two crude tankers struck mines and caught fire in the Strait of Hormuz, two days after a Qatari gas carrier was attacked. President Trump says the war will end “very soon, one way or the other”: “Either they’ll…
Israeli election officials reject Netanyahu’s claim the vote was stolen
Israel’s election chief says last Tuesday’s result stands, after the prime minister’s Likud party claimed without evidence that Arab-led parties “stole” the vote with Qatari money. “Even if the suspicions are substantiated, this would not…
Ukrainian and Russian air-raid alert apps hacked as Kherson truce ends
Ukraine’s air-raid alert app sent fake warnings of nuclear and chemical threats around Kyiv on Sunday evening, including a false report that the Oreshnik hypersonic missile had been launched. Hours later Moscow said its own emergencies app…
Trump makes final pitch as Americans prepare to vote on Tuesday
President Trump closed his midterm campaign with rallies in Florida, Iowa and Kansas — states he once won easily — as polls suggest Democrats could win at least partial control of Congress. Facing anger over prices, he warned that Democrat…
Ryanair warns fares could rise 20% as the war’s fuel shock bites
Ryanair’s half-year profit fell 15% to €2.15bn as the cost of its unhedged fuel doubled, and the airline is weighing temporary pay freezes. “Unless there is a swift resolution of the Middle East conflict, we expect jet-fuel prices to remai…
Mahmood sets out ten-year wait for migrants seeking settlement
The home secretary puts final rules before MPs today under which most legal migrants are expected to wait ten years, not five, for indefinite leave to remain, and some up to fifteen. Social care workers already in the UK are likely to be e…
Reeves says Britain’s future lies inside the European Union
Rachel Reeves, in her first major intervention since leaving the Treasury, says Brexit made the country “poorer, weaker and less secure”. “I do believe Britain’s future lies in the European Union,” she wrote. Separately, ministers are prep…
Healey signals delay to equal minimum wage for younger workers
The chancellor, John Healey, has declined to promise that 18 to 20-year-olds will receive the full adult minimum wage before the next election, putting a Labour manifesto pledge in doubt. “We’ll take one step at a time,” he said. From this…
MPs warn Britain is making up China policy as it goes along
A Commons committee says Britain’s failure to set a coherent China strategy since 2024 has “combined the worst of both worlds”, leaving businesses without opportunities and security risks unaddressed. Liam Byrne, its Labour chairman, warns…
King to address slavery at Commonwealth summit in Antigua
The King will speak on the transatlantic slave trade with “unflinching honesty, sincere sorrow” when he addresses Commonwealth leaders in Antigua on Tuesday, the Palace says. Andy Burnham has said he is “open” to a formal British apology,…