SUNAK TO ANNOUNCE CLIMATE FUNDING PACKAGE 

As COP28 commences, prime minister Rishi Sunak is expected to pledge £1.6 billion of climate funding targeted at tackling deforestation, supporting energy innovation projects and mitigating for loss and damage (Reuters).  

Sunak has highlighted the critical role China has to play in the transition to Net Zero before arriving at the summit in Dubai (The Times). 

Meanwhile, 2023 has been the hottest year on record, United Nations Secretary-General Antonio Guterres has told delegates (Bloomberg). 

LABOUR PARTY TO OUTLINE BANKING HUB PROPOSALS 

The Labour party has said they would seek to speed up the role out of banking hubs and give the FCA increased powers around access to cash if they win the next election (Financial Times). 

Labour believes its proposal could lead to 350 banking hubs being established on high streets (The Independent). 

NEWS IN BRIEF

UK house prices have risen unexpectedly by 0.2 per cent, Nationwide data shows. House prices have now risen for the third month in a row (Reuters). 

The MSCI All-Country World index has recorded its best month in three years as inflation falls in Europe and the United States and global stocks rally (Financial Times). 

Mayor of London Sadiq Khan and Small Business Minister Kevin Hollinrake are amongst those urging people to support small businesses ahead of Small Business Saturday (City AM). 

Former Chancellor Alistair Darling has passed away (BBC). You can read a reaction from Bob Wigley, Chair of UK Finance, here.