Few surprises as chancellor uses low-key speech blaming ‘global economic storms’ for stoking energy prices and cost of living crisis

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John Healey raised taxes on banks and landlords to fund a £100 winter handout for 20 million families as official forecasts made clear there is no end in sight for the cost of living crisis.

In his first budget, the chancellor blamed “global economic storms” for the grim outlook, as the war in Iran drives up oil and gas prices.

Russia plans to build own version of US billionaire’s satellite communications to help attack Ukraine

Vladimir Putin praised Elon Musk’s genius and said he was in touch with Starlink’s controlling shareholder as Russia develops its own satellite communications for its military to use against Ukraine.

The Russian president, speaking at a summit with African leaders in Moscow, was comparing the Earth-orbiting network built by Musk’s SpaceX with Russia’s gradual efforts to build its own Rassvet constellation.