5 June

@stu7tay

5 June

Good morning,

"The kind of love and unity you're displaying is what the world needs right now."

After the tragic events in London on Saturday evening, Ariana Grande's message of hope profoundly touched the nation during her One Love Manchester concert which came a day after the third attack on a UK city in as many months. The event at Old Trafford cricket ground raised over £2 million in text donations for the Red Cross emergency fund.

The names of the three men who were responsible for the latest London attack, which killed seven people and injured another 48, before they were shot dead at the scene, will be released "as soon as operationally possible". Raids on a flat in Barking yesterday – believed to be the home of one of the attackers – resulted in the arrest of twelve people. This morning searches are currently underway at two addresses in Newham and Barking.

Meanwhile, Theresa May yesterday addressed the nation from the steps of Downing Street with the message that “enough is enough” following the third major terror attack in the country in only 74 days. Cryptically stating that there has been “far too much tolerance of extremism” in the UK, the prime minister outlined her plans to stamp out radicalism with actions including new, tougher laws for jihadi plotters and pressuring tech companies to do more to tackle the spread of extremism online.

May confirmed that the general election will go ahead as planned on Thursday. How we keep the country safe from further attacks will almost certainly dominate the political agenda in this final week of campaigning.

News

Four Arab states including Saudi Arabia have severed diplomatic and transport ties with Qatar, claiming Doha’s policies in the Gulf state fuels extremism and terrorism. Egypt, the United Arab Emirates and Bahrain have opted to cut ties for the “protection of national security from the dangers of terrorism and extremism”, as they perceive Doha to have developed a closer relationship with Saudi Arabia’s arch-rival, Iran. (£)

The US ambassador to the UN has said that US President Donald Trump "believes the climate is changing and he believes pollutants are part of the equation" following condemnation for his withdrawal from the Paris climate change agreement.

Research by GMB union has found that up to 10 million Britons or nearly a third of the UK workforce do not have secure employment. The research, to be unveiled at its 100th annual congress in Plymouth today, aims to quantify the impact on health and family life for those who work in the gig economy or on zero-hour or temporary contracts.

Business & Economy

Britain’s exporters and builders merchants have both reported strong starts to 2017, defying fears surrounding Britain’s exit from the EU. The devaluation in the pound as well as a rise in confidence in global markets has boosted the performance of overseas-facing exporters according to research by the engineering bosses’ federation, the EEF. (£)

An increase in interest rates of as little as a quarter of a percentage point could result in around 79,000 businesses being unable to repay their debts according to research by the insolvency trade body. The Association of Business Recovery Professionals found that this fragility was four times higher than it was last September. (£)

Markets

AGMs
Africa Opportunity Fund Limited, Arix Bioscience, Cambian Group, Frontera Resources Corporation (DI), Redstoneconnect, TBC Bank Group

Finals
Intercede Group

International Economic Announcements
(15:00) Factory Orders (US)
(15:00) ISM Non-Manufacturing (US)

Columns of Note

Kevin Pringle looks at the issue that has surprisingly failed to feature in the general election: the economy. Delving into the latest set of economic figures, Kevin says that it is imperative that we have the chance to hear how each party vying for our vote lay out their intentions to turn the nation’s poor economic performance around. (£)

Clare Foges analyses what impact the increasing demand for internment camps would have on tackling jihadism. Having a Guantanamo Bay-style facility has been called for by Tarique Ghaffur, assistant commissioner at Scotland Yard at the time of 7/7, but Foges argues that this would only serve to increase the rate of radicalisation and we should heed the lessons from internment in Northern Ireland in the 1970’s, when such facilities resulted in an increase in IRA recruitment. (£)

Did you know?

In Japan, letting a sumo wrestler make your baby cry is considered good luck.

Parliamentary highlights

TODAY

House of Commons
In dissolution. The House will next sit on Monday 19th June.

House of Lords
In dissolution. The House will next sit on Monday 19th June.

Scottish Parliament
No business scheduled.

TOMORROW

Scottish Parliament
Justice Committee Debate: Inquiry into the Role and Purpose of the Crown Office and Procurator Fiscal Service