Labour has denied claims it is offering peerages to former Labour MPs so they stand down to make space for Sir Keir Starmer’s chosen candidates.
A number of left-wing Labour candidates, who were MPs until the election was called, told The Times they were told they would be elevated to the House of Lords if they gave up their seats.
But Yvette Cooper, Labour’s shadow home secretary, told Sky News’s Sunday Morning With Trevor Phillips: “No party can do that, it’s not the way the system works.”
She added that there is a “whole process” for an independent committee to vet nominations to the Lords so it is not possible for Sir Keir, or any party leader, to promise anybody a seat there.
The allegation came after Sir Keir was accused of trying to get rid of candidates to the left of the party.
Veteran MP Diane Abbott accused him of “culling” Labour left-wingers after two potential candidates, Faiza Shaheen and Lloyd Russell-Moyle, were blocked from standing.
Former leader Jeremy Corbyn told Sky News Sir Keir is “clearly intervening” in a “purge” of left-wing candidates.
But Sir Keir has denied that, saying he wants “the highest quality candidates”.
Image: Diane Abbott has said she does not know if she will be able to stand for Labour. Pic: Thabo Jaiyesimi/Shutterstock
Whether Ms Abbott, the first female black MP, would be allowed to stand or not for the Labour Party has taken over the headlines in the first week of the election campaign.
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Asked by Trevor Phillips if she expects Ms Abbott to be the Labour candidate for Hackney North and Stoke Newington, Ms Cooper said: “I assume so, yes.
“I’m very glad it’s been resolved for Diane. She continues to be a very important figure in the Labour Party.”
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Ms Abbott was given the Labour whip back at the beginning of the week after a year-long investigation over a letter she wrote suggesting Jewish, Irish and Traveller people do not face racism.
Confusion reigned when she claimed she had been barred from standing for Labour in Hackney North and Stoke Newington, the seat she has held for 37 years.
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Crypto-friendly billionaire investor Bill Ackman is considering the possibility that US President Donald Trump may pause the implementation of his controversial proposed tariffs on April 7.
“One would have to imagine that President Donald Trump’s phone has been ringing off the hook. The practical reality is that there is insufficient time for him to make deals before the tariffs are scheduled to take effect,” Ackman, founder of Pershing Square Capital Management, said in an April 5 X post.
Trump may postpone tariffs to make more deals, says Ackman
“I would, therefore, not be surprised to wake up Monday with an announcement from the President that he was postponing the implementation of the tariffs to give him time to make deals,” Ackman added.
On April 2, Trump signed an executive order establishing a 10% baseline tariff on all imports from all countries, which took effect on April 5. Harsher reciprocal tariffs on trading partners with which the US has the largest trade deficits are scheduled to kick in on April 9.
Ackman — who famously said “crypto is here to stay” after the FTX collapse in November 2022 — said Trump captured the attention of the world and US trading partners, backing the tariffs as necessary after what he called an “unfair tariff regime” that hurt US workers and economy “over many decades.”
Following Trump’s announcement on April 2, the US stock market shed more value during the April 4 trading session than the entire crypto market is currently worth. The fact that crypto held up better than the US stock market caught the attention of both crypto industry supporters and skeptics.
Prominent crypto voices such as BitMEX co-founder Arthur Hayes and Gemini co-founder Cameron Winklevoss also recently showed their support for Trump’s tariffs.
Ackman said a pause would be a logical move by Trump — not just to allow time for closing potential deals but also to give companies of all sizes “time to prepare for changes.” He added:
“The risk of not doing so is that the massive increase in uncertainty drives the economy into a recession, potentially a severe one.”
Ackman said April 7 will be “one of the more interesting days” in US economic history.
Satoshi Nakamoto, the pseudonymous creator of Bitcoin, marks their 50th birthday amid a year of rising institutional and geopolitical adoption of the world’s first cryptocurrency.
The identity of Nakamoto remains one of the biggest mysteries in crypto, with speculation ranging from cryptographers like Adam Back and Nick Szabo to broader theories involving government intelligence agencies.
While Nakamoto’s identity remains anonymous, the Bitcoin (BTC) creator is believed to have turned 50 on April 5 based on details shared in the past.
According to archived data from his P2P Foundation profile, Nakamoto once claimed to be a 37-year-old man living in Japan and listed his birthdate as April 5, 1975.
Nakamoto’s anonymity has played a vital role in maintaining the decentralized nature of the Bitcoin network, which has no central authority or leadership.
The Bitcoin wallet associated with Nakamoto, which holds over 1 million BTC, has laid dormant for more than 16 years despite BTC rising from $0 to an all-time high above $109,000 in January.
Satoshi Nakamoto statue in Lugano, Switzerland. Source: Cointelegraph
Nakamoto’s 50th birthday comes nearly a month after US President Donald Trump signed an executive order creating a Strategic Bitcoin Reserve and a Digital Asset Stockpile, marking the first major step toward integrating Bitcoin into the US financial system.
Nakamoto’s legacy: a “cornerstone of economic sovereignty”
“At 50, Nakamoto’s legacy is no longer just code; it’s a cornerstone of economic sovereignty,” according to Anndy Lian, author and intergovernmental blockchain expert.
“Bitcoin’s reserve status signals trust in its scarcity and resilience,” Lian told Cointelegraph, adding:
“What’s fascinating is the timing. Fifty feels symbolic — half a century of life, mirrored by Bitcoin’s journey from a white paper to a trillion-dollar asset. Nakamoto’s vision of trustless, peer-to-peer money has outgrown its cypherpunk roots, entering the halls of power.”
However, lingering questions about Nakamoto remain unanswered, including whether they still hold the keys to their wallet, which is “a fortune now tied to US policy,” Lian said.
In February, Arkham Intelligence published findings that attribute 1.096 million BTC — then valued at more than $108 billion — to Nakamoto. That would place him above Microsoft co-founder Bill Gates on the global wealth rankings, according to data shared by Coinbase director Conor Grogan.
If accurate, this would make Nakamoto the world’s 16th richest person.
Despite the growing interest in Nakamoto’s identity and holdings, his early decision to remain anonymous and inactive has helped preserve Bitcoin’s decentralized ethos — a principle that continues to define the cryptocurrency to this day.