
UK borrowing costs fall and pound rises as Starmer says he will remain as PM
UK borrowing costs fall and pound rises as Starmer confirms he will stay as PM

Great Western Railway will be renationalised on December 13, 2023, returning to public ownership. The government aims to prioritize passengers over shareholders in this significant move for rail services in the West of England.
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The rail operator Great Western Railway (GWR) is to be renationalised in a "significant" move for trains in the West of England, the government has confirmed.
GWR, based in Swindon, runs services linking London to the south-west of England and South Wales. It will come back under public ownership on 13 December.
A spokesperson for the operator said they welcomed the clarity provided by the announcement and would continue to work closely with the Department for Transport (DfT).
The DfT described the move as a "significant moment", adding it would place passengers, rather than shareholders, "at the heart of our railways".
GWR's services, which run from Taunton, Bristol, Gloucester and other major stations across the West and South Wales, will come under the control of the government's new Great British Railways organisation.
Helen Godwin, mayor for the West of England Combined Authority, welcomed the news.
"We deserve four trains an hour at stations across our growing regional rail network," she said, adding: "We'll continue working with partners to deliver the infrastructure needed to make that ambition a reality."
GWR has been running trains across the south-west of England since 1833, with the first line built between Bristol and London.
Several rail operators are already publicly owned, including Greater Anglia and South Western Railway.
Rail services in Wales were nationalised in 2021 and Scotland took trains into public ownership the following year.
The GWR spokesperson said: "Throughout this process, our priority will be maintaining a punctual, reliable service for customers while continuing to support regional growth and connectivity across our network."
Transport Secretary Heidi Alexander warned last year that renationalising train services would not necessarily result in lower fares.
The focus will instead be on improving services and infrastructure.
Great Western Railway will be renationalised on December 13, 2023.
GWR's services will come under the control of the new Great British Railways organization, focusing on passenger needs.
The renationalisation is seen as significant because it shifts the focus from shareholders to passengers in the management of rail services.

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