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The Telegraph Frontpage for Thursday 2023 January 12

The chaos comes after months of strikes that have already created huge backlogs of mail across the country CREDIT: Tom Wren, SWNS
Danny Boyle By Danny Boyle
Post is piling up after Royal Mail’s international division was hit by a suspected cyber-attack – following strikes that caused huge backlogs (above). Meanwhile, we report on the risk of hundreds of thousands of households defaulting on their mortgages.

750,000 households could soon default on mortgage

More than 750,000 households are at risk of defaulting on their mortgages over the next two years as rising borrowing costs make payments unaffordable, the financial regulator has warned. The Financial Conduct Authority (FCA) said that more than 200,000 households had fallen behind on payments by the end of last June, with bills overdue on about one in 40 home loans. Nikhil Rathi, the FCA’s chief executive, has suggested that many households were already thousands of pounds behind. The warning, issued in a letter to MPs on the Treasury select committee, will trigger fresh fears that a wave of forced property sales could bring down house prices in the coming months. Szu Ping Chan writes that it comes amid the biggest living standards squeeze on record, with rising interest rates and the highest inflation for 41 years.

Meanwhile, extra pressure is being piled on public finances because more millionaires are leaving the UK than arriving. According to analysis by a migration consultancy, the country has suffered a net outflow of 12,000 wealthy individuals since 2017. Rachel Mortimer explores what is to blame for Britain “losing its shine” among the super-wealthy.

Suspected cyber-attack halts Royal Mail overseas

Parcels and letters are stuck in limbo after Royal Mail’s international division was hit by a suspected cyber-attack. More than half a million items were piled up in warehouses after a computer system used to send them abroad was paralysed. The chaos comes after months of strikes that have already created huge backlogs of mail. It is understood the attack crippled software used to generate customs labels for outgoing post. Matt Oliver reports on what it means for customers.

What Prince Harry really owes to the Palace courtiers

Until now, the Duke of Sussex’s three-year moan against the Royal household had referred obliquely to “the institution”, a faceless monolith constructed to crush his hopes and dreams. In his memoir, he focuses his anger on three individual courtiers, but cannot bring himself to utter their names. They are the Bee, the Fly and the Wasp. Gordon Rayner explores how the role these three royal private secretaries played in Megxit has been seriously misjudged by the Duke of Sussex.

Also in the news this Thursday

Investigation | A shipment of uranium discovered at Heathrow could have been part of a dry-run operation by Iranian terrorists to test the resilience of security measures during recent Border Force strikes, a military intelligence expert has warned. Counter terror police have opened an urgent investigation after the radioactive substance was identified amongst a consignment of scrap metal on board a flight.

Around the world: ‘We have Briton’s body’

The body of one of the two British aid workers missing in Ukraine was discovered by forces from Russia’s private Wagner militia. The group shared photographs of passports belonging to both Andrew Bagshaw, 48, and Christopher Parry, 28, that they say were found on the body of one of the pair. US correspondent Josie Ensor has the full story.
British aid worker Christopher Parry in the town of Bakhmut earlier this month.

Aid worker Christopher Parry in the town of Bakhmut earlier this month. Credit: Reuters

Comment and analysis

Editor’s choice

Golden Globes
Success the best revenge | From bit parts to Golden Globes – the rise of Jennifer Coolidge
Jools Holland
Jools Holland | ‘People lose their sense of purpose when they leave the Armed Forces’
Dear Richard Madeley | ‘I feel bored and undervalued at work. Should I quit my job?’

Business briefing: Blow to net zero

One of Britain’s last coal-burning power facilities is to be kept open for two years longer than planned as the energy crisis deals a blow to the green agenda. The German energy giant Uniper is poised to keep the unit, at its Ratcliffe-on-Soar power station in Nottinghamshire, open until 2024 after an appeal from ministers – after initially intending to shut it in 2022. National Grid left the door open for extending the life of other coal-fired plants.

Here is a selection of articles we think you’ll be interested in today.
Girls’ schools in England ‘would have to admit male pupils under Scotland trans laws’
Jeff Beck, dead at 78, remembered as one of the greatest guitarists of all time
‘I pretended a delivery driver set my house on fire just to get through to Evri’
Prince Harry didn’t like these men – but their job was to save him from himself
Bank chief ‘was punched to death by drunk stranger’

Published by Guestspeaker

A joint effort of several authors who do find that nobody can keep standing at the side and that “Everyone" must care about what is going on in today’s world. We are a bunch of people who do not mind that somebody has a totally different idea but is willing to share the ideas with others and to be Active and willing to let others understand how "today’s decisions will influence the future”. Therefore we would love to see many others to "Act today".

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