Today’s Telegraph headlines
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1. Penny Mordaunt seizes momentum after first Conservative leadership ballot
Penny Mordaunt has risen to a privileged position in the Tory leadership race, just hours after she officially launched her candidacy.
The trade minister and former defense secretary came second in the first round of voting, with 67 votes from Tory MPs – pushing Liz Truss into third place, with 50 votes. Rishi Sunak was in the lead, with 88 votes. Read the full story.
2. UK weather: Use water only for ‘essential purposes’, according to households
Use water only for “essential purposes”, they told households, as the heat wave puts pressure on emergency services.
Water companies said they were struggling to treat and pump water fast enough to meet record levels of demand as Britain braced for another week of hot weather. Read the full story.
3. Next Prime Minister will be able to cut taxes without fueling inflation, says OBR
The next prime minister will have the chance to cut taxes without stoking inflation, Britain’s budget watchdog has said, in a bid to give a boost to Tory leadership candidates who have pledged to cut the private sector burden.
Tax cuts are less likely to drive up prices as an economic slowdown appears to be setting in, according to David Miles, a member of the Fiscal Responsibility Committee and a former head of interest rate setting at the Bank of England. Read the full story.
4. Netflix strikes a deal with Microsoft to introduce commercial breaks
Netflix has reached an agreement with Microsoft to introduce commercial breaks for its streaming service as it strives to compensate for a drop in subscriber numbers by offering a cheaper service to customers.
The streaming giant has chosen Microsoft as its global technology and business partner and will deliver ads through its platform, its chief operating officer, Greg Peters, said Wednesday. Read the full story.
5. Joe Biden: I will use force to prevent Iran from acquiring nuclear weapons
Joe Biden said he would use military force against Iran to prevent its regime from acquiring nuclear weapons on the opening day of his first trip to the Middle East as US president.
He rejected Tehran’s demand that its Islamic Revolutionary Guard Corps (IRGC) be removed from Washington’s list of foreign terrorist organizations – even if it killed its hopes of a nuclear deal with Iran. Read the full story.
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