Ten Things You Need to Know Today: Friday 3 Aug 2018

1. Interest rates to stay low, says Bank of England

The Bank of England yesterday raised interest rates for the first time in nine years, bringing the base rate up from 0.5% to 0.75%, but warned as it did so that there would be no return to the high rates such as 5% seen before the global financial crisis for decades because of factors including an ageing population, which is more likely to save money.

2. Mnangagwa narrowly wins Zimbabwe election

The incumbent President of Zimbabwe, Nelson Mnangagwa, has been declared winner of the first election since despot Robert Mugabe was removed from office, saying he was “humbled” to get 50.8% of the vote. There has been violence since the ballot on Monday but the electoral authorities insist there was “absolutely no skulduggery”.

3. Suspected Russian spy worked at US embassy

The US has discovered a suspected Russian spy working at its embassy in Moscow, The Guardian claims. The woman is said to have had access to highly-confidential material including the US president’s schedule. She was uncovered in 2017 after it was realised she had regular contact with the Russian intelligence agency the FSB.

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4. Amazon pays less tax in UK as its profits soar

Amazon’s tax bill in the UK dropped by £2.8m last year, to £4.6m, even while its operating profits almost doubled, rising from £48m in 2016 to £80m in 2017. The online retail giant said it paid all the tax it was required to and pointed out that it had reduced its profits by reinvesting heavily and running a “highly competitive, low-margin business”.

5. Hottest European day ever forecast for Spain

Weather forecasters say it is likely that they will measure the highest temperature ever recorded in Europe this weekend, in Spain or Portugal. Temperatures in the mid-to-high 40s are expected, and a new record may be set if the thermometer exceeds 48C. The hottest day ever measures so far was in Greece on 10 July 1977, when it was 48C.

6. Two stabbed in mass football brawl in Glasgow

Two men were seriously injured outside Glasgow Rangers’ Ibrox stadium yesterday when they were stabbed during a mass brawl before a match with Croatian side Osijek. The two, aged 40 and 24, are said to be stable in hospital. Police are appealing for witnesses or dashcam footage of the violence. Rangers went on to win the match on aggregate.

7. ‘Zombie Boy’ tattoo man found dead at home

A 32-year-old model, Rick Genest, known as Zombie Boy because much of his body was covered with tattoos of his skull and internal organs, has been found dead at home in Montreal and is believed to have taken his own life. Singer Lady Gaga paid tribute, urging drug addicts to get help. Genest had appeared in one of her videos.

8. Tooth extracted from 12-day-old baby girl

A baby girl born with a tooth has had it removed by a dentist just 12 days into her life. Isla-Rose Heasman was the youngest patient ever seen by the Seven Trees Dental Access Centre in Plymouth, but was rewarded for being brave with a sticker nonetheless. About one in 2,000 babies are born with teeth, often without proper roots.

9. Cat posthumously honoured for saving owner

A cat has been named Cat of the Year at the National Cat Awards one week after he died. Theo, who passed away at the age of eight, was honoured last night at a ceremony in London’s Savoy Hotel for saving Charlotte Dixon of Redditch from a blood clot. Theo kept his owner awake when she wanted to sleep – and paramedics say he saved her life.

10. Briefing: how interest rate rise will affect you

The Bank of England has increased the UK interest rate for just the second time in a decade, despite a sluggish outlook for the British economy.

Experts had “widely expected” the decision by the Bank’s Monetary Policy Committee (MPC) to lift the cost of borrowing by 0.25% to reach 0.75% - the highest level since March 2009, says The Guardian.

Interest rate rise: how will it affect you?