Corbyn, the ex-Labour leader, has launched a new left-aligned initiative aiming to oppose benefit cuts and redefine Britain’s global position, creating a direct challenge to the party’s current leadership.

A sudden drop in sterling followed a £3bn sell-off, triggered by concerns over Reeves’s emotional display and the PM’s doubts about her future, with Labour firmly denying rumours of internal discord.

Starmer’s benefits Bill has faced steep compromise following last-minute concessions to rebels, paring back the promised savings and giving rise to fresh questions over the PM’s fiscal intentions.

The BBC’s most senior figure attended a festival featuring a performer accused of anti-Israel rhetoric, prompting scrutiny of the broadcaster’s choice to keep the footage online for an extended period and fuelling concern about its handling of contentious content.