Daily SumUp

Hyundai Motor Group CEO Jaehoon Chang has dismissed concerns over the relationship between Tesla CEO Elon Musk and former U.S. President Donald Trump, asserting that such matters are irrelevant to Hyundai’s business strategies and partnerships. Speaking at a press event, Chang emphasized Hyundai’s focus on advancing electric vehicle (EV) technology and strengthening global collaborations rather than engaging in geopolitical or personal controversies. "We respect the achievements of our peers in the EV market, including Tesla, but our priority remains innovation and delivering value to our customers," Chang stated. "The personal or political affiliations of any individual are not factors that influence our decisions." Chang's comments come amid heightened media speculation about Musk's recent interactions with Trump during public and private events. Critics argue that such associations could polarize Tesla’s consumer base and stakeholders. However, Chang expressed confidence in Hyundai’s independent trajectory in the competitive EV landscape, underscoring that the company’s commitment to sustainability and cutting-edge innovation remains unwavering. Hyundai has been rapidly expanding its EV offerings, with plans to launch several new models in 2024 and 2025 under its Ioniq and Kia brands. The company’s growth strategy has positioned it as a formidable competitor in the global EV market, particularly as demand for clean energy vehicles continues to surge. Industry analysts note that Hyundai’s measured response reflects its strategic focus on operational goals rather than external distractions, solidifying its reputation as a forward-thinking leader in the automotive sector. Hosted on Acast. See acast.com/privacy for more information.

As raging wildfires consumed large swaths of the city and fire hydrants ran dry, Hollywood stars like Kim Kardashian have come under fire for allegedly flouting water-saving rules during a record-breaking drought. Residents have expressed outrage over what they see as "wasteful and entitled" behavior, accusing celebrities of prioritizing their lush gardens over community safety. Recent reports revealed that some A-list celebrities exceeded their water allotments by thousands of gallons, despite mandates designed to conserve resources. This revelation has struck a nerve as firefighters struggled to combat the flames without sufficient water pressure. The timing of the scandal couldn't be worse. LA County, which has been grappling with worsening drought conditions for years, implemented strict water restrictions earlier this year. These rules were meant to address water scarcity, but enforcement has proven difficult, especially when faced with the deep pockets of Hollywood elites. Social media has erupted with criticism, with one user tweeting, "When our firefighters can't get enough water to stop a fire, why are we tolerating celebrities watering their massive lawns?" Kim Kardashian, who lives in the upscale Calabasas area, has yet to comment on the allegations. Other high-profile figures named in the reports include Sylvester Stallone and Dwyane Wade. Some have defended their actions, citing efforts to minimize their overall environmental footprint. The crisis has reignited debates about wealth inequality and environmental responsibility, with many calling for harsher penalties for violators. As climate challenges continue to escalate, Hollywood’s water habits are now firmly in the spotlight, leaving many to wonder if the city of stars will rise to meet the demands of a parched future. Public Reaction: The controversy underscores the growing frustration among ordinary Angelenos, who have borne the brunt of conservation mandates, limiting personal water use while watching sprawling celebrity estates stay pristine. Activists have demanded stricter oversight and even suggested publishing violators’ names to hold them accountable. As Los Angeles struggles to recover from the dual threats of fire and drought, the spotlight on Hollywood’s role in the crisis is brighter than ever. Will this lead to meaningful change, or will the outrage fade as quickly as the flames? Only time will tell. Hosted on Acast. See acast.com/privacy for more information.

One month after the historic overthrow of President Bashar al-Assad, Syria stands at a crossroads, oscillating between optimism and apprehension. The streets of Damascus, Aleppo, and Homs bear witness to both the scars of conflict and the seeds of a nascent hope as Syrians grapple with the daunting task of rebuilding their nation. A Fragile Peace The end of Assad's decades-long regime has ushered in an atmosphere of cautious celebration. Many Syrians, particularly those who endured years of suppression and conflict, express relief and optimism for a brighter future. “It’s as though we can breathe again,” said Khalid al-Hamidi, a shop owner in Hama. “But the road ahead is uncertain, and the wounds of war are still fresh.” Sporadic clashes and political wrangling among opposition factions have tempered the euphoria. A coalition government is in the works, but rivalries between former rebel groups and regional power brokers threaten to delay progress. Economic Struggles and Humanitarian Needs The country’s infrastructure lies in ruins after over a decade of war. Power outages, water shortages, and soaring food prices remain daily challenges for millions of Syrians. International aid organizations have ramped up efforts to deliver essential supplies, but access to remote areas remains a major hurdle. Meanwhile, returning refugees and internally displaced persons are struggling to find shelter and employment in their hometowns. “I want to rebuild my house, but there’s no money, no materials, nothing,” lamented Rima al-Awad, who recently returned to Idlib with her three children. A Glimmer of Hope Despite the challenges, Syrians are beginning to imagine a future without fear. Grassroots initiatives have emerged, with communities organizing to clear rubble, reopen schools, and provide medical care. Youth-led movements are advocating for democratic reforms and greater inclusivity in the political process. The international community has cautiously extended its support, with promises of aid and investments tied to commitments for transparency and reforms. Neighboring countries have also expressed hopes for a stable Syria, though regional tensions remain a delicate balancing act. The Road Ahead The post-Assad transition is a complex and delicate process, fraught with political, social, and economic challenges. The formation of an inclusive interim government, rebuilding trust among divided communities, and addressing the grievances of millions affected by the war will be critical. For now, Syria stands on the precipice of change. Whether it falls back into turmoil or rises as a beacon of resilience depends on the collective efforts of its people and the support of the international community. As Syria turns the page on a turbulent chapter, the world watches closely, hoping that this moment of possibility transforms into lasting peace and prosperity. Hosted on Acast. See acast.com/privacy for more information.

In recent months, several prominent U.S. companies have scaled back their Diversity, Equity, and Inclusion (DEI) initiatives, citing changes in the legal landscape and external pressures. Meta Platforms Inc.: The parent company of Facebook and Instagram announced it will discontinue its DEI programs, including the "Diverse Slate Approach" in hiring and specific representation goals for women and minorities. This decision aligns with the company's shift towards promoting fair, bias-mitigating practices for all employees. Amazon: The tech giant is winding down certain DEI initiatives, aiming to integrate inclusive practices into existing processes. The company emphasizes fostering an inclusive culture with proven outcomes, moving away from standalone DEI programs. Walmart: The world's largest retailer has ceased considering race and gender in supplier contracts and will not renew its commitment to its Center for Racial Equity. Additionally, Walmart will stop participating in external surveys measuring workplace inclusion for LGBTQ+ employees. Ford Motor Company: The automaker has reviewed its DEI policies, deciding to stop participating in certain external equality indices. Ford emphasizes its commitment to fostering a safe and inclusive workplace without publicly commenting on polarizing issues. These decisions come in the wake of the U.S. Supreme Court's 2023 ruling against affirmative action in college admissions and growing conservative activism challenging corporate DEI practices. Companies are reevaluating their approaches to diversity and inclusion, balancing legal considerations, public perception, and internal culture. Hosted on Acast. See acast.com/privacy for more information.

Former child actor Rory Sykes, known for his breakout roles in early 2000s family films, has tragically passed away at the age of 32. Sykes was one of the victims of a devastating series of wildfires currently raging across Los Angeles County. Authorities confirmed his death on Friday, reporting that the actor was at his residence in a hillside neighborhood when the fires engulfed the area. Emergency responders were unable to reach the property in time due to the rapidly spreading flames. Sykes rose to fame as a young star in heartwarming coming-of-age films, earning widespread admiration for his talent and charisma. Despite stepping away from the limelight in his late teens, Sykes remained a beloved figure to fans who grew up watching his work. His former co-stars and friends in the entertainment industry took to social media to express their grief and share heartfelt memories of their time with the actor. "Rory had a light that could brighten even the darkest moments. He will be deeply missed," wrote one fellow performer. The Los Angeles fires have claimed multiple lives and destroyed hundreds of homes, with thousands forced to evacuate. Firefighters and emergency services are working tirelessly to contain the blazes as high winds and dry conditions exacerbate the crisis. Rory Sykes' death is a sobering reminder of the human toll of these natural disasters. Fans and loved ones are mourning the loss of a gifted actor who brought joy to many through his work. Hosted on Acast. See acast.com/privacy for more information.

A social media video reveals a man who identifies himself to be the ex-Labour MP Ivor Caplin being handcuffed by police. Sussex Police have confirmed they have arrested a 66-year-old man on suspicion of engaging in sexual communication with a child. In May last year, Caplin was suspended because of undisclosed "serious allegations", which he denies. Video footage of the arrest has been posted online and a man wearing a black trench coat and a red cap can be seen, being held by police officers Police then appear to take the arrested man's phone and put it inside an evidence bag. A police spokesperson said: "We are aware of footage circulating on social media showing a man in Brighton being detained on suspicion of engaging in sexual communication with a child. "Officers can confirm that a local 66-year-old man was arrested on Saturday January 11 and currently remains in custody. "This is an ongoing and active investigation." It is understood that Mr Caplin denies all allegations against him. The former Hove MP represented the constituency between 1997 and 2005, but was suspended from the Labour Party over serious allegations. He first was elected as a member of Parliament for Hove in 1997. Then in 2001 he became as assistant Government whip, and then a junior defence minister and minister for Veterans at the Ministry of Defence. In May 2024 Caplin was suspended from Labour and is no longer a member. Hosted on Acast. See acast.com/privacy for more information.

Los Angeles firefighters are waging a fierce battle against a massive wildfire raging through the Palisades area. The blaze, fueled by dry vegetation and high winds, erupted late last night and has since consumed hundreds of acres, threatening homes and forcing evacuations in several neighborhoods. The fire, dubbed the "Palisades Monster" by locals, has rapidly spread due to the ongoing drought and unseasonably warm weather. More than 200 firefighters, supported by water-dropping helicopters and air tankers, are working around the clock to contain the flames. “Our top priority is protecting lives and property,” said Fire Chief Michael Garcia during a press briefing. “The terrain is challenging, but our crews are determined to bring this fire under control.” Residents in the affected areas have been ordered to evacuate, with emergency shelters set up at nearby community centers. The Los Angeles Police Department has also stepped in to assist with evacuations and road closures. Authorities are investigating the cause of the fire, which remains unknown. Meanwhile, firefighters urge residents to remain vigilant and follow evacuation orders for their safety. The Palisades fire is a stark reminder of the increasing intensity of wildfire seasons in California, fueled by climate change and worsening drought conditions. Hosted on Acast. See acast.com/privacy for more information.

On Saturday afternoon, chaos unfolded at the Strasbourg train station in France when two trams collided, leaving dozens injured, including five individuals in critical condition. The shocking incident has drawn attention to public transportation safety and the vulnerabilities of rail infrastructure in bustling urban areas. The Collision: What Happened? According to preliminary reports, the collision occurred due to an error at a track switch. One tram, while in motion, unexpectedly diverted onto a different track, colliding with a stationary tram on that unintended path. The impact left around 30 people injured, with local media outlets, including Actu17, reporting that five of the victims are in critical condition. Videos shared on social media platform X captured the chaotic aftermath, showing passengers on the ground, injured and dazed, as an alarm resonated through the station. Emergency responders rushed to the scene, assisting the injured and cordoning off parts of the station to ensure safety. Public Transport Disruption in Strasbourg The incident caused significant disruptions to public transit in Strasbourg, a key transportation hub in France. Tram traffic was suspended in both directions at Strasbourg station, with Bas-Rhin national police confirming the halt in services via an announcement on social media. Four bus lines were also blocked from accessing the central station, further compounding the disruption. Live travel alerts urged commuters to seek alternative routes, creating widespread travel chaos in the city. Strasbourg’s tram network is one of the most heavily used public transport systems in the region, serving both residents and tourists. The suspension of services has left thousands of passengers stranded, disrupting travel plans and highlighting the dependence on efficient and reliable public transport in urban centers. Safety Concerns in Rail Transport This tram collision raises pressing questions about the safety and reliability of public transport systems, not just in France but globally. Errors at track switches, while rare, can lead to catastrophic accidents, as demonstrated in this incident. Investigations are now underway to determine whether technical malfunctions, human error, or a combination of both caused the collision. France’s public transport infrastructure is renowned for its efficiency, yet incidents like these underline the importance of continuous investment in safety measures, regular maintenance, and advanced technologies to prevent such accidents. The incident in Strasbourg is a stark reminder that even established systems are not immune to risks. Hosted on Acast. See acast.com/privacy for more information.

Slovak Prime Minister Robert Fico called Ukraine an unreliable partner and accused President Volodymyr Zelensky of blackmailing European leaders for support at a parliamentary meeting on Jan. 10. "He [Zelensky] goes around Europe, just begging and blackmailing others, asking for money,” he said. Fico posted a video from the meeting on his Facebook page afterward, with some of his quotes. The meeting, convened by the opposition, sought explanations for Fico’s recent meeting with Vladimir Putin in Moscow and questioned Slovakia’s future energy policies. Fico claimed that Zelensky disrupted a gas transit agreement between Russia and Azerbaijan that would have benefited Slovakia. Kyiv terminated Russian gas transit on Jan. 1, citing its refusal to finance Russia’s war. Slovakia, which had previously imported Russian gas through Ukraine, has voiced concerns over the decision's economic impact. Fico said that Slovakia could halt its humanitarian aid to Ukraine, cut or cancel social benefits for Ukrainian refugees, and cease emergency electricity supplies to Ukraine. He also suggested using Slovakia's veto power over EU decisions as leverage against Kyiv. "It just has to stop," he said, and added that he was sometimes "fed up with” Zelensky. Fico then described Russia as a reliable energy partner, stating, "Russia has never deceived us, unlike Ukraine." He also recalled a 2009 incident where he claimed Ukraine’s leadership refused to supply Slovakia with gas during a crisis, referring to it as "typical Ukrainians." Fico met with Putin at the Kremlin during a visit on Dec. 22 to discuss gas supplies. The visit by the Russian-friendly leader was heavily criticized by EU and Ukrainian officials. Hosted on Acast. See acast.com/privacy for more information.

Entire towns were incinerated this week by the wildfires that have been burning around the Los Angeles area. The infernos have scorched tens of thousands of acres. The largest of the blazes – the Palisades Fire and the Eaton Fire – have been blamed for at least 10 deaths. Thousands of structures have been destroyed, and early estimates show the cost of property damage will easily climb into the tens of billions. These before-and-after images show the stark changes the fires have brought to the landscape. They demonstrate the terrible toll exacted on the lives of people caught in the crisis. Hosted on Acast. See acast.com/privacy for more information.

Roshni Devi's incredible fitness journey proves that it's never too late to focus on your health, regardless of your age or physical challenges. At 70, Roshni is breaking stereotypes, especially around senior women and fitness, by showcasing her resilience, strength, and unwavering positivity. Despite battling a back injury and arthritis, she continues to work out at the gym, showing that age is truly just a number. Hosted on Acast. See acast.com/privacy for more information.

More than 400 people trapped by rubble in earthquake-stricken Tibet have been rescued, Chinese officials said on Wednesday, with an unknown number still unaccounted for in freezing weather a day after a strong tremor rocked the Himalayan foothills. The epicentre of Tuesday's magnitude 6.8 quake, one of the region's most powerful tremors in recent years, was located in Tingri in China's Tibet, about 80 km (50 miles) north of Mount Everest, the world's highest mountain. It also shook buildings in neighbouring Nepal, Bhutan and India. Twenty-four hours after the temblor struck, those trapped under rubble would have endured a night in sub-zero temperatures, adding to the pressure on rescuers looking for survivors in an area roughly the size of Cambodia. Temperatures in the high-altitude region dropped as low as minus 18 degrees Celsius (0 degrees Fahrenheit) overnight. Peple trapped or those without shelter are at risk of rapid hypothermia and may only be able to live for five to 10 hours even if uninjured, experts say. Footage broadcast on state television CCTV showed families huddled in rows of blue and green tents quickly erected by soldiers and aid workers in settlements surrounding the epicentre, where hundreds of aftershocks have been recorded. At least 126 people were known to have been killed and 188 injured on the Tibetan side, state broadcaster CCTV reported. No deaths have been reported in Nepal or elsewhere. The quake was so strong part of the terrain around the epicentre slipped as much as 1.6 metres (5 feet 3 inches) over a distance of 80 km (50 miles), according to an analysis by the United States Geological Survey, opens new tab. Hosted on Acast. See acast.com/privacy for more information.

Elon Musk praised the co-leader of the German party Alternative for Germany (AfD) as “very reasonable” on Thursday, urging Germans to vote for the far-right party in what is the latest high-profile sign of the tech billionaire’s involvement in European politics. “Only AfD can save Germany, end of story, and people really need to get behind AfD, and otherwise things are going to get very, very much worse in Germany,” Musk said during an audio livestream alongside party co-leader Alice Weidel on X. Musk, a close ally of US President-elect Donald Trump, compared the political climate in Germany to that in the United States, saying that people were unhappy and demanded change when voting for Trump in November. Germany holds its own election February 23. “If you are unhappy with the situation, you must vote for change, and that is why I’m really strongly recommending that people vote for AfD,” Musk said. He went on to claim the president-elect will solve Russia’s war in Ukraine “very quickly,” prompting Weidel to say she wishes the incoming Trump administration will “end that terrible war” because “Europeans - they cannot.” “They completely depend on the US, in the sense of - ‘oh the USA need(s) to do the entire job. We don’t need to do anything. We just escalate the entire conflict against Russia.’ It’s very dangerous, what’s going on here, and only you can basically stop it,” Weidel told Musk. Weidel also said that it was “unbelievable” how Germany treated Trump while he was campaigning for president, saying that it caused her “physical pain” to see him “disparaged.” In the same conversation, Weidel said that Germany needs to protect both the existence of Israel but also to “take our responsibility as a German nation state to protect Jewish life,” which she said was threatened by “Muslim crime.” AfD is the “only protector of the Jewish people” in Germany, she claimed. Hosted on Acast. See acast.com/privacy for more information.

The Oxford English Dictionary (OED) has added 22 new Nigerian words to its diction, giving the global community an opportunity to learn about the country’s rich cultural heritage. The new words reflect the everyday life of an average Nigerian and the exciting street mannerisms and Pidgin English, which are fast gaining acceptability across Africa and beyond. Reflecting ethnic nationalities as well as demographics, the new entries also highlight Nigeria’s cultural diversity. Japa, 419, agbero, abi, area boy, yahoo boy, yahoo, Edo, Kanuri, jand, cross-carpet, kobo, naija and suya are among the new words unveiled yesterday. Some entries take both noun and verb forms. For instance, OED takes japa as both a noun and a verb. Jand also comes in both parts of speech. This time, the entries also come with pronunciations to support non-Nigerians who are interested in studying the dictions. Dr Kingsley Ugwuanyi, who consults for OED and provides vocal support, told The Guardian that the editors used corpora to determine words that are more frequently and widely used across the country. In his announcement, Dr. Ugwuanyi shared his excitement, saying, “The wait is over! I’m thrilled to announce that the Oxford English Dictionary (OED) has officially published its latest updates, featuring an amazing collection of Nigerian English words that beautifully reflect Nigeria’s culture, creativity, and the unique ways we express ourselves as Nigerians.” Hosted on Acast. See acast.com/privacy for more information.

Veteran broadcaster Soni Dimond has been mourned by her local news station after her sudden death aged 67. The self-described 'Queenager' went into cardiac arrest on December 27, and died on Thursday at Lancaster General Hospital, having never recovered. Dimond was a part-time presenter on local news station ABC 27 in Lancaster, Pennsylvania, where she hosted the Vibrant Living lifestyle segment. Colleagues at the TV station presented tributes to her on-air after news of her death, paying tribute to her 45 years in media. 'Soni will long be remembered for the energy and glamor she brought every time she stepped into the abc27 studio,' the station said. Amy Kehm, who hosed Good Day PA, the show that included Dimond's segment, teared up as she spoke of her admiration. Hosted on Acast. See acast.com/privacy for more information.

'Kristin was summoned by Bass this afternoon, about 4pm. She came back from that meeting, hugged her staff goodbye and left. She said she was fired,' the source said. The alleged booting follows Crowley lashing out against the Mayor's cuts to her department, in an interview with a local Fox TV station around 12pm Friday. 'My message is the fire department needs to be properly funded,' the Chief said. 'It's not.' 'Did they fail you?' Fox LA's Gigi Graciette asked. 'Yes,' Crowley replied. The Fire Department (LAFD) did not immediately respond to a request for comment. A second source close to Bass' office told DailyMail.com that they were aware Crowley 'was called to the office' this afternoon, but did not know the outcome of the Mayor and Chief's meeting. A retired senior LAFD official told DailyMail.com that he was shocked by Crowley's comments in her TV interview. Hosted on Acast. See acast.com/privacy for more information.

The death toll from the catastrophic wildfires in Los Angeles has risen to 11, with California Governor Gavin Newsom launching an investigation into claims of water shortages. The LA County Medical Examiner’s Office confirmed the latest count, with authorities warning that the number could continue to climb. Of the 11 deaths, five were caused by the Palisades fire and six by the Eaton fire. Cadaver dogs are being used to search devastated neighborhoods for additional victims or survivors. As of now, five of the victims from the Eaton fire have been identified by their families. The destruction caused by the fires, which started on January 7, is being described as the worst the city has seen in recent memory. Over 10,000 structures have been destroyed, and nearly 150,000 residents of Los Angeles County remain under evacuation orders. The fire has already consumed an area twice the size of Manhattan. Governor Newsom has ordered an independent investigation into reports of lost water pressure from fire hydrants and a shortage of water supplies from the Santa Ynez Reservoir. Newsom expressed concern in a letter to city officials, stating that the loss of water likely hindered efforts to protect homes and evacuation routes. He emphasized the need for answers to these issues. Both President Joe Biden and Vice President Kamala Harris have expressed their condolences, with Biden calling the scene “like a war” and warning that the death toll may rise further. Hosted on Acast. See acast.com/privacy for more information.

President Joe Biden made a striking remark in a recent interview, asserting that he "would have beaten Donald Trump" in the 2024 presidential race had he chosen to run for re-election. However, Biden emphasized that his decision to step aside was driven by a desire to unify the Democratic Party and ensure the nation moves forward with a strong, united front. "I’m confident in my ability to win against Trump again," Biden stated, referencing his victory in 2020. "But this moment is bigger than me. It’s about securing the future of our democracy and bringing Democrats together to face the challenges ahead." Biden’s comments come as the Democratic Party continues to solidify its strategy for the upcoming election. Speculation about Biden’s successor has dominated political discourse, with potential candidates emerging to take up the mantle. Biden’s decision to prioritize party unity reflects a calculated move to avoid infighting within Democratic ranks during a critical election cycle. Trump, the Republican frontrunner, responded to Biden’s remarks with his usual bravado, declaring himself the best candidate for America’s future while criticizing Biden’s leadership. Political analysts note that Trump’s rhetoric may signal a challenging election season ahead, marked by polarized views and intense campaign dynamics. Democratic leaders have publicly praised Biden’s decision, commending his dedication to the party and the nation. As the party looks ahead, the focus now shifts to who will lead the charge in the battle against Trump and the Republican Party in 2024. Hosted on Acast. See acast.com/privacy for more information.

In a groundbreaking step toward merging advanced technology with human connection, Realbotix has unveiled its latest lineup of human-like robots. These lifelike companions are designed to enhance the emotional and social experiences of their users, blurring the line between artificial intelligence and human interaction. Realbotix robots boast cutting-edge AI systems, realistic physical features, and customizable personalities, making them versatile companions for various needs, from personal companionship to educational and therapeutic applications. With interactive capabilities that adapt to individual preferences, these robots are set to redefine relationships in the age of technology. "Our mission is to create robots that don't just replicate human behavior but complement and enrich lives," said a spokesperson for Realbotix. The company’s vision includes addressing loneliness, providing emotional support, and even assisting with specialized care for individuals with disabilities or unique social needs. Critics have raised ethical concerns about the reliance on robots for companionship, but Realbotix argues that their innovations are meant to support human connections rather than replace them. As the integration of AI into daily life continues to evolve, Realbotix's human-like robots represent a significant milestone in the journey toward more empathetic and engaging technologies. Hosted on Acast. See acast.com/privacy for more information.

The pound hit its lowest since late 2023 on Thursday, under pressure from a selloff in global bonds that has driven the UK government's borrowing costs to their highest in over 16 years, which has reignited concern about Britain's finances. Sterling was last down 0.5% at $1.2305, having fallen by as much as 1.6% earlier to its lowest since November 2023, while the cost of hedging against bigger price swings over the coming month jumped to its highest since the March 2023 banking crisis . Global bond yields have soared this week on the back of concern about rising inflation, reduced chances of a drop in interest rates, uncertainty over how U.S. President-elect Donald Trump will conduct foreign or economic policy and the prospect of trillions of dollars in extra debt. The UK market has been hit particularly hard. Benchmark 10-year gilt yields have spiked by a quarter point this week alone to their highest since 2008, as confidence in Britain's fiscal outlook deteriorates. By the afternoon in London on Thursday, some of the selling pressure had ebbed, leaving yields unchanged on the day around 4.81%. Finance minister Rachel Reeves is facing her first major test, as turmoil in the bond market could force her to cut future spending. Ordinarily, higher gilt yields would support the pound, but right now, that relationship has broken down, reflecting investors' worry about the country's finances. "This is the bond market starting to discipline the UK government. And at the moment they want to fight the market, and that never ends well," Lloyd Harris, head of fixed income at Premier Miton Investors, said. In a statement late on Wednesday, the UK finance ministry said it would maintain "an iron grip" on the public finances. Hosted on Acast. See acast.com/privacy for more information.