Throwing in the Towel

Hello from the FT newsroom on UK election day. For the latest updates, commentary and data throughout tonight and tomorrow, be sure to follow our live blog.

A massive Labour victory seems almost certain, the final polls suggest, with even the Conservatives appearing to throw in the towel as they wrapped up their campaign yesterday. Mel Stride, a member of the cabinet and ally of the prime minister, said Britain was heading for “the largest Labour landslide majority that this country has ever seen”.

Yet the size of that majority will come down to the decision of a handful of voters. Our data shows how 120 seats will ultimately determine whether the Tories face a straightforward (still crushing) defeat — or a total wipeout.

My choices this week

1. Meanwhile, in the US, influential Democrats are calling for President Joe Biden to drop out of the presidential race after a disastrous debate performance last week. Is this Kamala Harris’s moment? (Free to read)
2. That was not the only seismic US election news this week. On Monday, in Trump vs United States, the Supreme Court vastly expanded the concept of presidential immunity, possibly protecting Donald Trump from any prosecution for election interference on January 6. The court has undermined US democracy, writes the FT’s editorial board.
3. France will vote in the final round of its parliamentary election at the weekend. After the far-right Rassemblement National secured first place in the first round last Sunday, leftist and centrist parties have withdrawn hundreds of candidates this week to create a united front against the party.
4. Blackstone Group is taking on financial risk that it is also creating; you would be right to think it sounds somewhat circular. As it becomes one of the biggest holders of “significant risk transfer” loans, the behemoth is showing just what an interconnected web the private equity industry has become.
5. The rapidly warming climate is changing England’s southern counties into fertile territory for a new activity: winemaking. Investor heads are turning as English wine goes from being the butt of the joke to the hot new sector. (Free to read)
6. On the Greek island of Hydra, contemporary art meets beautiful literature and a buzzing social scene. In this week’s HTSI, the island’s bookseller writes a love letter to the island, a place “without comparison”. Introverts should abstain, he warns.

Thanks for reading,

Roula

PS. As a new government seeks to reinvigorate Britain, Stephen Bush aims to bring clarity to UK politics and policymaking with his award-winning newsletter. You can get a 30-day free trial by signing up here.

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