Ten Things You Need to Know Today: Thursday 28 Jul 2016

1. Lloyds to axe 3,000 jobs and close 200 branches

Lloyds Banking Group is to cut 3,000 jobs and close 200 branches in the UK as it races to reduce costs after the Bank of England signalled a likely cut to interest rates soon. Lloyds, the owner of Halifax, employs about 75,000 and is 9% taxpayer-owned. The job losses come on top of 9,000 announced in October 2014, which are still rolling out.

Lloyds' boom-era bosses sue bank for bonuses

2. Obama: Hillary is more qualified than me - or Bill

Barack Obama yesterday delivered a rousing 40-minute speech at the Democrat convention backing his 2008 rival, Hillary Clinton, for the presidency. "I can say with confidence there has never been a man or woman more qualified, not me or Bill [Clinton], to be the president of the United States of America," he said.

The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up

What is Hillary Clinton doing now?

3. Jeremy Corbyn cleared to stand for re-election

Labour leader Jeremy Corbyn can stand for re-election after a High Court judge rejected a challenge to the decision to include him on the ballot despite a lack of support. The case was brought by donor Michael Foster after Labour allowed Corbyn to stand, even though he lost a vote of confidence among MPs. Corbyn said the case was a "waste of time and resources".

4. EDF to approve Hinkley Point nuclear plant

The French firm providing most of the financing behind a planned new nuclear power plant at Hinkley Point in Somerset is expected to give the investment its final approval today. Legally-binding contracts will be signed once the EDF board has met, leading to construction beginning on the UK's first new nuclear power plant in 20 years.

5. Teenagers who killed French priest made video

The teenagers who cut the throat of an elderly French priest as he celebrated mass earlier this week recorded a video pledging allegiance to Islamic State. The film was released by the terror group's news agency and shows the two men praying in Arabic and displaying a piece of paper on which an IS flag is printed.

France church attack: Two arrested over killing of priest

6. MH370 pilot's simulator route confirmed

Australian officials have confirmed that the pilot of the missing Malaysia Airlines flight MH370, Zaharie Ahmad Shah, did use his home flight simulator to plot a course thought to be similar to the actual route taken by the plane on its final flight. Malaysian officials had claimed reports about the simulator were false.

MH370: mysterious 89kg load ‘added to cargo flight list after take-off’

7. Economy begins to contract after Brexit vote

Signs that the UK's decision to leave the EU will hit the economy are beginning to be felt in construction, car manufacturing and on the high street despite stronger-than-expected growth of 0.6% between April and June. Sterling has also dropped on foreign exchanges amid fears of an interest rate cut.

Remain-voting City lobby group calls for 'dramatic Brexit U-turn'

8. Merkel: Germany must still welcome refugees

German chancellor Angela Merkel has ruled out a change to the country's policy of accepting refugees despite a series of attacks involving asylum seekers. She said that the culprits had "shamed the country that welcomed them" but said Germany would "stick to its princicples" of helping those in need. She also outlined new security measures to prevent further attacks.

9. Edinburgh Festival offers refunds for explicit opera

The Edinburgh International Festival has been criticised for writing to ticket-holders for a Mozart opera warning the production is sexually explicit and offering a refund on tickets for those who think they might be offended. Christopher Honore's staging updates Cosi Fan Tutte with racial, sexual and violent elements.

10. Briefing: What GDP figures mean for post-Brexit Britain

Political uncertainty in the run-up to the EU referendum was expected

to constrain business investment and consumer spending, translating to

a slower economy, but GDP grew by 0.6 per cent in the second quarter

of the year, far ahead of expectations. However, many experts believe

growth before the referendum is largely irrelevant, as most expected a

Remain victory. The the result has caused a major shock.

Remain-voting City lobby group calls for 'dramatic Brexit U-turn'