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we start with the latest market action and as the trading day began in asia the pound started to slide down nearly 5% at one point against the us dollar that s on top of the 3.6% dive on friday. investors are running for the exits as fears mount the new government s shock and awe tax plans for the uk economy are too big a gamble. on friday the chancellor, kwasi kwarteng, announced historic tax cuts, and the biggest increase in borrowing since 1972 to pay for them. there is now calls for the bank of england to take emergency action to calm rattled markets and bolster sterling. so let s look at how the pound is trading now. it has been hovering around just over $1.05 but one hour ago we were looking at the pound buying $1.03 so it has recovered a tiny bit but not much and you can see that the markets in asia are fairly mixed and we have the price of oil edging lower as well. joining me now is simon french, chief economist at panmure gordon. is at panmure gordon. thi ....
gets under way today, with england hoping to end australia and new zealand s dominance of the competition by lifting the trophy. hollywood history under the hammer. we ll get to see the movie memorabilia expected to fetch millions. good morning. the heavy overnight rain pushes northwards and eastwards, already heavy showers following behind into the south west. and the strong winds in the south will continue as we go through the day. details coming up. good morning. it s tuesday, the 1st of november. our main story. the chief inspector of prisons has told breakfast the government must get a grip on a migrant processing centre in kent. a report published today, says back injuly the facility at manston was working reasonably well, but it says since then it has deteriorated significantly, with conditions being described as wretched. meanwhile, opposition mps have condemned the home secretary, suella braverman, for describing the arrival of migrants into britain as an inv ....
live from our studio in singapore. this is bbc news. it s newsday. it s six in the morning in singapore and 6pm in washington, where the congressional committee investigating the storming of the capitol building last year has voted unanimously to subpoena the former president, donald trump. the vote came at the end of a session in which the committee presented taped evidence from two of donald trump s closest supporters steve bannon and roger stone who were openly talking about stealing the election before the vote had even been counted. our north america editor, sarah smith, has this report. as a violent mob stormed the capitol trying to stop congress confirming confirming thejoe biden as president, elected members were rushed to safety. were rushed to safety, shown here on this previously unseen footage. at the same time, according to witnesses, donald trump was watching the violence on tv from inside the white house and refusing to tell his supporters to back dow ....
alexjones to pay $965 million to the families of the victims of the sandy hook massacre. and in china, where the country s ruling communist party gathers for its annual congress, we ll look at whose likely to become xijinping s second in command. live from our studio in singapore. this is bbc news. it s newsday. it s six in the morning in singapore and 11 in the evening in london, where the government is battling new economic uncertainty. prime minister liz truss has told mps her strategy of cutting tax will not change. but she s also said she won t cut spending either, suggesting the government will have to borrow more. that s raised concern even among her own mps. some want her to rethink tax cuts to reassure the markets. our political editor, chris mason, reports. reporter: have you wrecked the economy, prime minister? - there are plenty of questions for liz truss at the moment, but that one gets to the crux of things. spiralling prices, interest rates climbing, the ....
gun violence. sir keir starmer sets out his party s position on brexit the opposition leader says labour will not be campaigning to take the uk back into the eu. and halo by name halo by nature the cockpit invention that saved the life of a formula 1 driver this weekend, in a spectacular crash at silverstone. tonight with the context, from tel aviv, political analyst dahlia scheindlin andjim murphy, former secretary of state for scotland and now managing director at arden strategies. hello and welcome to the programme. breaking news this evening six people are known to have been killed and 31 others taken to hospital in another mass shooting incident, this time during an independence day parade in the state of illinois. the incident took place in highland park, lake county, 50 kilometres north of chicago. the gunman is thought to have been firing from a rooftop position towards the parade. police say a high powered rifle was recovered. but the gunman, said to be ....