The truth about Captain Sir Tom Moore's family

📍Top line: The family of Captain Sir Tom Moore, the celebrated pandemic fundraiser, benefitted significantly from links to a charity established in his name, according to a Charity Commission report. Hannah Ingram-Moore, Sir Tom’s daughter, and her husband, Colin, were found to have committed repeated instances of misconduct, leading to their bans from being charity trustees.

Key Points:

• Financial Misconduct: Hannah Ingram-Moore sought a £150,000 annual remuneration package to become the charity’s CEO, despite publicly denying such negotiations. A £1.5 million book deal advance went to the family’s company, Club Nook, rather than the charity, misleading donors.

• Misuse of Charity’s Name: The foundation’s name was included in a planning application for a spa pool block at their home, which was later demolished after a legal order.

• Inappropriate Payments: Mrs. Ingram-Moore was paid £18,000 for an awards appearance, with only £2,000 going to the charity.

• Governance Failures: The Charity Commission highlighted blurred lines between personal and charitable interests, calling the actions “mismanagement and misconduct.”

• Sanctions: The Ingram-Moores are banned from charity roles for eight to ten years.

Tokyo Metro to take over Elizabeth Line

📍Top line: Tokyo Metro has has secured a contract to operate London’s Elizabeth Line, promising improved reliability and increased service frequency. The group aims to leverage Japanese expertise to address reliability challenges and elevate the performance of the UK's newest train line.

Key Points:

• Tokyo Metro pledges to enhance punctuality and boost service frequency on the Elizabeth Line.

• The line, launched in 2022, serves 700,000 passengers daily but has faced reliability issues.

• Japanese trains boast punctuality levels of 99%, setting high standards for the partnership.

• Infrastructure issues, managed by Network Rail, caused 31% of the Elizabeth Line’s delays.

• The seven-year contract, extendable for two more years, is Tokyo Metro’s first overseas deal.

• There are plans to explore station-area development opportunities along the Elizabeth Line.

Elsewhere in business:

🛒 Lidl UK has swung to a £43 million profit, fuelled by a 16.9% jump in sales and the quirky appeal of its "middle aisle." UK boss Ryan McDonnell says the aisle's eclectic stock, from power tools to inflatables, has a "big male following," often leading to surprise purchases. Lidl now boasts over 960 stores after 30 years in the UK.

📮 With the cost of a first-class stamp in the UK now at £1.65, some savvy senders may find it cheaper to travel abroad to post their Christmas cards. Postage rates in several European countries are significantly lower, making a quick trip to the continent a potential money-saver for those with a large number of cards to send.

Inflation Rises to 2.3%: What It Means for You

📍 Top line: The UK's inflation rate increased to 2.3% in October, its highest in six months. While lower than the 11.1% peak two years ago, rising costs continue to stretch household budgets. Here's what the latest figures reveal:

• Cost of living crisis persists: Prices are 24% higher than in October 2020, especially for food and energy, impacting those on benefits and struggling with debts like unpaid energy bills.

• Inflation remains unpredictable: Analysts were surprised by the rise, influenced partly by global energy costs. Monthly fluctuations make long-term trends unclear.

• Interest rate cuts will slow: Despite a recent cut, rates may not drop further in December. Mortgage rates are rising, while savers may benefit from steadier returns.

• Uncertainty ahead: Global and domestic factors, including potential US tariffs and budget measures, add unpredictability to inflation's trajectory.

Elsewhere in the economy:

🔍 The Covid inquiry will cost taxpayers £208 million, making it the UK's most expensive investigation ever. Spending includes £37.7 million on legal fees and £557,000 for chairwoman Baroness Hallett. Running since 2022, it employs hundreds of civil servants and is projected to hear evidence until 2026, with a final report expected in 2027.

🔥 Defence Secretary John Healey has announced the retirement of ageing military equipment to save £500 million over five years. The plan includes retiring helicopters, frigates, and assault ships, as the UK prioritises modernisation in response to evolving threats.

Snap Analytics has opened applications to its 2025 Data Analyst Internship in Bristol. The twelve-month scheme will see successful applicants experimenting with different tools and building internal capabilities that can be applied in pre-sales engagements with clients. The position is open to current undergraduates and graduates who are predicted or have achieved a minimum 2:1 degree in any discipline. Apply now here.

Nvidia reveals sales and profit surge

📍Top line: Nvidia has exceeded sales expectations for the third quarter, driven by surging demand for its chips amid the AI revolution. 

Key Points:

• Record-Breaking Results: Revenue rose 94% year-on-year to $35.1 billion, beating analysts’ forecast of $33.2 billion. Net income surged 109% to $19.3 billion, exceeding expectations of $17.4 billion.

• AI-Driven Demand: Nvidia’s chips power over 40,000 companies, including Amazon, Apple, Alphabet, Tesla, and Microsoft, supporting technologies like generative AI.

• Company Milestones: Nvidia’s valuation hit $3.6 trillion this month, briefly surpassing Apple as the world’s most valuable company. Its stock has risen 200% in 2024, reflecting investor confidence in its AI leadership.

CEO Jensen Huang hailed the "age of AI" as a transformative era, emphasising that Nvidia is "in full steam" to meet the overwhelming demand for its next-generation chips.

Elsewhere in tech:

📲 Science Secretary Peter Kyle has said he is open to restricting social media access for children under 16 if tech companies fail to address safety concerns. Kyle called for Ofcom to be "more assertive" in tackling harmful online behaviours, including those linked to tragic incidents involving teenagers. While avoiding outright bans for now, he emphasised, "I will keep everything on the table when it comes to keeping people safe."

📈 Bitcoin’s value surpassed $94,000 for the first time yesterday, continuing a rally that has seen the cryptocurrency rise nearly 40% since Donald Trump’s re-election victory. The surge comes as investors anticipate a regulatory environment favourable to digital currencies during Trump’s second term. Trump, once a crypto skeptic, has pledged to make the US "the crypto capital of the planet" and proposed a "strategic reserve" of bitcoin.

🇺🇦 Ukraine has used UK-supplied Storm Shadow missiles to strike targets inside Russia for the first time, a significant development in its long-running conflict. Previously restricted to using the long-range missiles within its borders, Ukraine appears to have extended their deployment following Washington’s recent approval for Kyiv to use US-supplied long-range missiles on Russian territory.

⚰️ Liam Payne was remembered by family, friends, and former bandmates at a private funeral service held yesterday in Amersham, Buckinghamshire, just over a month after his tragic death at 31. His former One Direction bandmates—Harry Styles, Louis Tomlinson, Niall Horan, and Zayn Malik—were present, alongside his girlfriend Kate Cassidy and ex-partner Cheryl, with whom he shares a son.

🎞️ The western Rust premiered at the Camerimage International Film Festival in Torun, Poland, three years after cinematographer Halyna Hutchins was fatally shot on set in New Mexico. The screening was described by festival organisers as a tribute to Hutchins, a 42-year-old Ukrainian-born filmmaker who had been an attendee and admirer of the event.