elon musk says his rocket firm spacex will continue funding its starlink internet service in ukraine, a day after he said it could no longer do so. hello and welcome to bbc news. good to have your company this hour. we begin in the uk. where the country s new chancellorjeremy hunt is holding talks with the prime minister later at the country retreat as a government fights to salvage his economic credibility. speaking to the bbc, mr hunt warned some taxes will increase and all government departments will be expected to find additional savings. posting online today, the prime minister has said she s going to do things differently in her quest for economic growth promising she will always act in the national interest . earlier i spoke to our political correspondent who had the latest. another day, another interview from the brand new chancellor doing his best to exude calmness to say to the conservative party and to the markets that he has got an absolute handle on things.
profits but the money is rolling in as it benefits from high interest rates. and qatar looks to cash in on the world cup to boost its economy we have a special report from doha. financial markets reacted calmly as it emerged that rishi sunak is set to be the uk s next prime minister. the pound is broadly unchanged against the dollar and government borrowing costs stayed lower after commons leader penny mordaunt dropped out of the leadership race. but the new prime minister inherits a daunting in tray with the cost of living crisis soaring energy prices and rising inflation. not to mention the war in ukraine and brokering a good relationship with europe. our business correspondent theo leggett has more. the news that rishi sunak is the new leader of the conserve the new leader of the conserve the party and will therefore become the next prime minister of the uk is something international investors seem to have taken in their stride. there has certainly been no return to th
week. it is assumed, well, we don t know, he has to appoint his team, once he has seen king charles today and has been invited to form a government, he then has to put together his team, and that will include the chancellor, and it is thought that will remain to bejeremy hunt. that will remain to be jeremy hunt. , ~ ., hunt. yes, i think at the moment hunt. yes, i think at the moment the hunt. yes, i think at the moment the market - hunt. yes, i think at the - moment the market response to jeremy hunt taking over as chancellor of the exchequer has been positive. he is regarded as a safe pair of hands. there has been a lot of commentary about what we need is a dull chancellor, a dull budget. essentially, nothing that is going to come as too much of a shock that raises real concerns about the outlook for public finances and the date of the uk. so let s see but so far, so good, in terms of at least we have got away from that market
elon musk says his starlink satellite company will continue to provide internet to ukraine for free, despite threatening to start charging for the service. the government in kyiv has described starlink as vital, saying it helped the country survive critical moments during the russian invasion. for more on this about turn, here s stephanie prentice three, two, one, zero. ignition. liftoff. elon musk s starlink satellites launching in 2019 his bid to provide broadband around the world that a few years later would become critical to the ukrainian war effort. the company s 3000 stations in low earth orbit have been crucial to communications by troops for the past eight months as they monitor russian movements. but on friday, a different battle was raging. mr musk said his company could no longer provide the service, suggesting the pentagon took over the alleged $20 million
but as you heard there from jeremy hunt, they really are considering all elements of this. and why this matters politically, of course, is liz truss got into number ten by promising a load of tax cuts and now she is appointing a new chancellor who is basically ripping all of that up. that ip off the basic rate of tax, was a proposal that was going to be introduced in 2024 by rishi sunak. he had already announced it. so she was going to do it sooner, now she is back to rishi sunak s timetable. you mentioned chequers where they are holding the meeting later on sunday, the premises, this beautiful country retreat. there must be some conservatives who wonder whether actually it should bejeremy hunt s country retreat because it feels like he is now in charge of the government. a lot of people will be questioning who is actually leading those conversations in chequers right now. this is another area of questioning this morning on the laura kuenssberg programme. jeremy hunt, of course, himsel