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Daily Sensemaker

Ben Zaranko
on the economy


Friday 22 May


Welcome to Ben Zaranko on the economy. Weekly analysis from the Observer’s economics editor, making sense of the economic ideas and debates shaping all of our lives


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Long stories short

  • Crude oil prices increased following President Trump’s latest bout of hard-line rhetoric towards Iran.
  • UK consumer spending in bars and clubs in July was more than 7% higher than a year earlier, boosted by the World Cup.
  • Nvidia announced a partnership with Wall Street giants to secure $500bn of funding for AI infrastructure.

Keir Starmer

Why Starmer failed

Keir Starmer did not accept £5m from a foreign-based crypto billionaire like Nigel Farage, or hold parties in Downing Street in breach of lockdown rules like Boris Johnson, or crash the economy like Liz Truss. The outgoing prime minister is neither corrupt, compromised nor crazy. The deep public hostility to him is hard to explain – and in many ways unfair – but leadership is like an X-ray of the soul and Starmer’s political fractures were exposed from the start.

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Ben Zaranko

ben.zaranko@observer.co.uk

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