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There has been a positive market reaction to the resignation of Liz Truss after just 44 days in office, following the fierce backlash against her economic plan and humiliating climbdown.

News that the prime minister was to make a Downing Street statement sparked a rally for sterling versus the dollar – leaving the UK currency almost a cent up on the day at one stage at almost $1.13.

It remained half a cent higher following confirmation she was to leave office.

Truss resignation – live updates

Shares also moved upwards initially on the FTSE 100 while government borrowing costs fell.

The 30-year gilt yield fell back to 3.8% – continuing its recovery since the post mini-budget highs of around 5% that sparked Bank of England intervention. As the afternoon progressed the figure rose to the 3.9% of Thursday morning.

It took a series of U-turns on the tax-cutting growth plan, demanded by new Chancellor Jeremy Hunt after the sacking of Kwasi Kwarteng, for market damage to ease.

More on Liz Truss

The reaction to the departure of Ms Truss signalled a measure of relief that the architect of the Growth Plan – outlined during her campaign for the Tory leadership – was on her way out.

Nevertheless, there was also a measure of uncertainty at play for values, given the complete lack of vision on who would replace the prime minister in Number 10.

It will not be Mr Hunt, who has ruled himself out, leaving him free to continue preparations for the Halloween statement that is to set out the government’s new medium-term fiscal plan.

There will be some jitters over whether its direction is likely to change – or even be delayed to allow the new Tory leader to get their feet under the desk.

There has been no indication that the statement will be delayed as it is expected that the successor will be in place before 31 October.

Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, said of the market moves: “Sterling is highly sensitive to economic policy uncertainty and even though the ship Britannia will still be left largely rudderless, with a successor still to be chosen, as far as investors are concerned, the future is marginally brighter without her in charge.

“Ten-year gilt yields eased further today, as speculation soared about her resignation, a sign of tacit approval from the bond vigilantes who punished the UK by deserting its government’s debt as worries raced up about fiscal responsibility.”

Business appealed for a more stable period ahead.

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Hunt rules out leadership challenge

Tony Danker, the director-general of the CBI, said: “The politics of recent weeks have undermined the confidence of people, businesses, markets and global investors in Britain.

“That must now come to an end if we are to avoid yet more harm to households and firms.

“Stability is key. The next prime minister will need to act to restore confidence from day one.

“They will need to deliver a credible fiscal plan for the medium term as soon as possible, and a plan for the long-term growth of our economy.”

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How Britain’s most notorious gangster turned up at a charity lunch to fact-check a retired detective’s talk

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How Britain's most notorious gangster turned up at a charity lunch to fact-check a retired detective's talk

Britain’s most notorious gangster and the detective who pursued him have been involved in a bizarre confrontation…at a charity lunch.

Former Detective Superintendent Ian Brown was at a Kent golf club and about to give a talk on the infamous £26m Brink’s-Mat gold robbery when he was summoned from the stage by officials.

Mr Brown, who appeared on the award-winning Sky News StoryCast podcast The Hunt For The Brink’s-Mat Gold in 2019, said: “I go outside and they say ‘he’s here’ and I say ‘who’s here’ and they say that table over there in the corner, that’s Kenny Noye with a baseball cap pulled down over his head.”

Noye stabbed to death an undercover policeman during the Brink’s-Mat investigation, but was acquitted of murder, though he was jailed for handling the stolen gold.

After his release, he used a knife again in the M25 road-rage murder of motorist Stephen Cameron.

“They said what are we going to do?” said Mr Brown.

“I said are you serving food? Well, just use plastic knives.”

Former Detective Superintendent Ian Brown
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Former Detective Superintendent Ian Brown. Pic: Robert Mulhern

Although Mr Brown had not personally arrested Noye over Brink’s-Mat he had identified him as a suspect months after the robbery.

Years later he met him during an ill-fated TV interview in which he quizzed him about his role in the robbery.

He said: “He told me everything I wanted to know except the truth. He still insists he had nothing to do with it.”

The interview was never broadcast after the prison authorities threatened to send Noye back to jail for a breach of his parole.

Read more:
What happened to the Brink’s-Mat gold?

Kenneth Noye and Stephen Cameron
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Kenneth Noye, left, and Stephen Cameron

Mr Brown, 86, said: “I went over to him and said ‘thanks for coming, nice of you to pop in’, but I don’t believe you’ve turned up with your sons and grandkids to listen to me telling how you killed a police officer.

“And he said ‘I want to make sure you don’t say I’ve been dealing drugs’ and I said ‘I’ve never said that Kenny’.”

The retired detective told Noye he wasn’t going to change his presentation just because he was there.

“He said ‘mate, I wouldn’t expect you to and I’ll come up [on stage] if you want me to’.

“Can you think how he’s turned up with his family to listen to somebody talking about you killing the police? Now, you put logic on that.”

The bizarre story emerged when I rang Mr Brown after I’d been told about the meeting.

A series of podcast documentaries from Sky News, telling compelling and unheard real life stories from around the UK.
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A Sky News podcast told the story of the Brink’s-Mat heist in 2019

I also wanted to ask him about the recent BBC hit drama series The Gold which retold the story of the Brink’s-Mat heist at Heathrow Airport in 1983.

“It was an absolute shambles, far too much dramatic licence and the real story was so much better,” said the ex-detective, whose job had been to follow the trail of the 6,800 gold bars to the US and the Caribbean.

He said he chatted to one of the show’s writers for a long time in a phone call but then heard no more.

“They invented people, changed a bit here and there and made it politically correct in so many ways. I’m just very sad that that is what people will believe.

“And I couldn’t work out who my character was supposed to be. I could have been one of the female cops.”

He also criticised the portrayal of Noye, now 78, as a likeable jack-the-lad character when the truth about the double killer with a volatile temper was quite different.

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Gallagher brothers share a high-five and hug as Oasis reunite on stage after 16 years

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Gallagher brothers share a high-five and hug as Oasis reunite on stage after 16 years

Oasis have reunited on stage for the first time in almost 16 years – with brothers Liam and Noel Gallagher sharing a high five and the briefest of hugs as they closed a performance that for fans was more than worth the wait.

After the split in 2009, for many years Noel said he would never go back – and for a long time, as the brothers exchanged insults through separate interviews (and on social media, for Liam), it seemed pretty unlikely to ever happen.

But now, here they are. As they walked out on stage at Cardiff’s Principality Stadium, all eyes were on the Gallaghers for a sense of their relationship – dare we say it, friendship? – now after all these years.

There was no reference to their fall-out or making up, but the gestures were there – lifting hands together as they walked out for the first time.

The headline "OASIS REUNITED" was shown on stage at the gig. Pic: PA
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The headline “OASIS REUNITED” was shown on stage at the gig. Pic: PA

Fans at the Oasis gig. Pic: PA
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Fans at the Oasis gig. Pic: PA

Headlines and tweets of speculation and then confirmation of the reunion filled the screens as the show started. “This is happening,” said one, repeatedly.

In the end, it was all about the music.

Liam has received criticism in the past for his voice not being what it once was during his solo or Beady Eye performances, but back on stage with his brother tonight he delivered exactly what fans would have hoped for – a raw, steely-eyed performance, snarling vocals, and the swagger that makes him arguably the greatest frontman of his day.

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This was Oasis sounding almost as good as they ever have.

Fans sang along and held up their phones to film as Oasis performed. Pic: PA
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Fans sang along and held up their phones to film as Oasis performed. Pic: PA

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Oasis: ‘It’s good to be back’

They opened with Hello, because of course, “it’s good to be back”. And then Acquiesce, and those lyrics: “Because we need each other/ We believe in one another.”

The song is said to be about friendship in the wider sense, rather than their brotherly bond and sibling rivalry, but you can’t help but feel like it means something here.

Over two hours, they played favourite after favourite – including Morning Glory, Some Might Say, Cigarettes & Alcohol, Supersonic and Roll With It.

Liam Gallagher as Oasis takes to the stage in Cardiff. Pic: PA
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Liam Gallagher as Oasis takes to the stage in Cardiff. Pic: PA

In the mid-section, Liam takes his break for Noel to sing Talk Tonight, Half The World Away and Little By Little; the tempo slows but there is by no means a lull, with the fans singing all his words back to him.

Liam returns for hits including Stand By Me, Slide Away, Whatever and Live Forever, before sending the crowd wild (or even wilder) with Rock And Roll Star.

Noel Gallagher performing on stage. Pic: PA
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Noel Gallagher performing on stage. Pic: PA

An Oasis fan is pointing at the stage during the gig. Pic: PA
Image:
An Oasis fan is pointing at the stage during the gig. Pic: PA

When the reunion announcement was made last summer, it quickly became overshadowed by the controversy of dynamic pricing causing prices to rocket. As he has done on X before, Liam addressed the issue on stage with a joke.

“Was it worth the £4,000 you paid for the ticket?” he shouted at one point. “Yeah,” the crowd shouts back; seemingly all is forgiven.

After Rock And Roll Star, the dream that very quickly became a reality for this band, Noel introduced the rest of the group, calling Bonehead a “legend”.

Paul 'Bonehead' Arthurs of Oasis. Pic: PA
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Paul ‘Bonehead’ Arthurs of Oasis. Pic: PA

Liam Gallagher carried a tambourine in his mouth during the concert. Pic: PA
Image:
Liam Gallagher carried a tambourine in his mouth during the concert. Pic: PA

Then he acknowledges all their young fans, some who maybe weren’t even born when they split. “This one is for all the people in their 20s who’ve never seen us before, who’ve kept this shit going,” he says before the encore starts with The Masterplan.

Noel follows with Don’t Look Back In Anger, and the screens fill with Manchester bees in reference to the arena bombing and how the song became the sound of hope and defiance for the city afterwards.

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‘I’d have paid £10,000 to see them’

Two fans sat on their friends' shoulders as Oasis performed. Pic: PA
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Two fans sat on their friends’ shoulders as Oasis performed. Pic: PA

During Wonderwall, there’s a nice touch as Liam sings to the crowd: “There are many things I would like to say to you, but I don’t speak Welsh.”

It is at the end of Champagne Supernova, which closes the set, that it happens; Noel puts down his guitar, and they come together for a high-five and a back-slap, a blink-and-you’d miss it hug.

Read more:
What you need to know about the Oasis tour
Liam Gallagher hits out at council after fans branded ‘rowdy’

“Right then, beautiful people, this is it,” Liam had told the crowd as he introduced the song just a few minutes earlier. “Nice one for putting up with us over the years.”

From the roar of the audience, it’s safe to say most people here would agree it’s been worth it.

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Former Arsenal player Thomas Partey charged with rape

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Former Arsenal player Thomas Partey charged with rape

Former Arsenal midfielder Thomas Partey has been charged with five counts of rape.

The 32-year-old has also been charged with one count of sexual assault.

Two of the counts of rape relate to one woman, three counts relate to a second woman, and the one count of sexual assault relates to a third woman.

The incidents are alleged to have taken place between 2021 and 2022.

Metropolitan Police said he is due to appear at Westminster Magistrates’ Court on Tuesday 5 August.

“The charges follow an investigation by detectives, which commenced in February 2022 after police first received a report of rape,” the force said.

Partey has just left Arsenal after his contract expired and was said to be attracting interest from clubs including Juventus, Barcelona and Fenerbahce.

The Ghanaian player was at the Emirates for five years after signing from Atletico Madrid and has also played dozens of times for his country.

His time with Arsenal was marked by recurring injuries but he played 130 times for the club in the Premier League, including 35 times last season when he scored four goals.

Detective Superintendent Andy Furphy said: “Our priority remains providing support to the women who have come forward.”

Anyone who has information about the case, or has been impacted by it, is being asked to contact the Met Police.

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