Faisal Islam

Econ Editor, BBC News. Newsnight presenter. Host award-winning EUref TV interviews & 2017 GE debate. United ST. occasional Eurovision vocalist 😆

[Faisal Islam @faisalislam]

Hello all - I’m back on here, back in economics and after a few weeks wilfully getting lost in transit, am newly on here👇🏾, and shortly on air in a new role as Economics Editor of the BBC..

first take on data, trade wars, Brexit, fiscal gymnastics...👋 https://t.co/3ZFevXzDG8

[Faisal Islam @faisalislam]

Have a listen to our deep dive on the Strait of Hormuz reopening to shipping and howling that will take to help boost and normalise the world economy with Michelle and Rahul for Business Daily on BBC World Service…. https://t.co/u1PcZJULB3

[Faisal Islam @faisalislam]

@AlexStaffords Constituency polling notoriously difficult to get accurate sampling, especially when there are new parties and tactical voting

[Faisal Islam @faisalislam]

Here it is….

Greater Manchester Mayor Andy Burnham returns to the House of Commons as MP for Makerfield with 25k votes, 9k majority over Reform on 15.6k, Restore on 3k.. that is way over 50% of the vote…

Polls missed extent of Burnham support.

[Faisal Islam @faisalislam]

Burnham having hit 55% vote share, is notably also amassing national level advisers a little like someone piling armies on Iceland when playing Risk…

Former minister and economist Jim O ‘Neill
Former OBR chief Richard Hughes

Designed also to signal plan to markets

[Faisal Islam @faisalislam]

That was a cracking display…. This is going to be some tournament…

[Faisal Islam @faisalislam]

lads playing lovely stuff in this second half… #ENGCRO

[Faisal Islam @faisalislam]

Rashy… get in. What a team goal.

Trust in Tommy T.

[Faisal Islam @faisalislam]

This is a totally understandable question…

Answer: it hasn’t lasted for long enough yet, but if it does then the really important October number for energy prices may turn out better than expected… the ofgem cap increase in July will still go ahead, though this is a time of typically low energy use.

The situation now looks much better than a month ago, which is some reassurance.

https://t.co/8z2cb1FDPO

[chris donnelly @DonnellyCh92847]

@faisalislam why hasnt there been a announcement that energy bills will be reducing, there has been a peace deal with iran so oil and gas is no longer in short supply or as expensive, the price went up quick enough

[Faisal Islam @faisalislam]

Inflation rate remained at 2.8% in May, as rises in fuel prices were offset by other falls elsewhere.

It will rise over summer after energy bills go up in July, but this is a better start that feared, with UK now not an outlier vs major European economies, and with oil price now well below $80 a barrel, some hopes that the spike up will be limited.

Food price inflation now 2.2%

[Faisal Islam @faisalislam]

The best measure of inflation in the pipeline, what are known as input Producer Prices, were up 8.7% in May on the year, after a 71.8% increase in crude oil prices in the year to May. It’s the highest rate since February 2023.

…slightly better news here is that in the month of May that crude oil factor had already fallen back 5.9%.… output prices also fell.

If Hormuz frees up from here on in, solidly if not rapidly, chance of actually avoiding a significant historic shock, albeit with inflation hovering around 3.5-4% here.

[Faisal Islam @faisalislam]

Fantastic story of a small town in Kansas adopting the Algeria team….

[Kylen Mills @KylenMills]

The beautiful thing about the World Cup is seeing people from all walks of life come together. This week the people of Lawrence, KS have gone above & beyond to embrace and essentially adopt Team Algeria. This is the best of America, let’s spread the word about the positive. #worldcup #usa #algeria

[Match of the Day @BBCMOTD]

🧙‍♂️ You can try out this sorcery for yourself
⬇️⬇️⬇️
https://t.co/gCMcQNfdx4

#FifaWorldCup

[Lemon Poundcake @susanmathai]

@faisalislam @Shayan86 @BBCSport This is really an interesting story. They scanned all 1280 players to created a 3D image (it took 1 sec ea). The stadiums have 12 cameras that scan the players 50x/sec; tracking 29 places on their bodies. There is a tracking device in the ball sending data at 500x/sec. Pretty rad

[Faisal Islam @faisalislam]

Score a World Cup goal…

[Faisal Islam @faisalislam]

What sorcery is this my @BBCSport colleagues… you can watch in virtual 3D on the BBC website, this is the Canadian goalies view of the Bosnia goal….

[Faisal Islam @faisalislam]

From VP Vance and also FM Aragchi:

Seems done.

https://t.co/WxHle943KG

[JD Vance @JDVance]

I'm seeing a lot of fake information about a potential deal to reopen the Strait and end Iran's nuclear weapons program. First, the Iranians are not receiving any cash, and no funds are being released for simply signing a deal or attending a meeting. The deal is structured to ensure that the US and its allies concerns are prioritized, and that if the Islamic Republic of Iran meets its obligations, then economic benefits will flow to them and to the entire region. This deal has the potential to remake the region and lead to lasting peace.

I've noticed a couple of bizarre things in the reporting over the last few hours. First, people who (rightly) said Donald Trump was a historic president a month ago now criticizing a deal based on unconfirmed media reports. Second, people who say you can't trust a word said by the IRGC who apparently believe anonymously sourced social media posts.

The president is going to get us a good outcome, one way or the other.

[Faisal Islam @faisalislam]

Well well well … 8 hours before kickoff… https://t.co/RGQYWsDBWk

[Faisal Islam @faisalislam]

Difficult not to see a potential link President Trump’s desire to get ceasefires done quickly with the start of the World Cup in the US (mainly) later this week…

That would be quite something. Would fit with his significant focus on the tournament since start of second term…

[Faisal Islam @faisalislam]

NEW

Crude oil price now below $83… back to levels last seen in early March as multiple official accounts on both sides confirm a peace deal is close…

Seems to be real this time….

[Faisal Islam @faisalislam]

Two goalkeepers is FIFA rule change too far …

[Faisal Islam @faisalislam]

Defence Secretary resigns revealing that the Defence Investment Plan would not reach 3% of GDP defence spending by 2030… but also that other departments budgets have already been squeezed even to hit 2.68%

[John Healey @JohnHealey_MP]

My letter to the Prime Minister