Newspaper headlines: 'Titanic claims five more' and 'recession fears'

By BBC News
Staff
Friday's front pages lead on the news that five explorers who had been missing on a deep sea expedition to see the Titanic have been announced dead. The Titan submersible went missing on Sunday and a huge dayslong search and rescue effort followed to find the crew. There were several worries about their depleting oxygen supplies but, as reported by The Times newspaper, on Thursday the US Coast Guard said debris discovered was consistent with a "catastrophic implosion".
The Daily Mail pictures the five explorers who have died: British businessman Hamish Harding, 58, British-Pakistani businessman Shahzada Dawood, 48, his son Suleman, 19, French navy diver Paul-Henry Nargeolet, 77, and OceanGate CEO Stockton Rush, 61. The family of Shahzada and Suleman Dawood have spoken of their "profound grief", and Hamish Harding's family has described him as a "dedicated father".
The Metro headlines on "Titan 5 died in implosion". On Thursday evening, the US Coast Guard said the crew died following a catastrophic implosion, as five parts of the submersible were found on approximately 1,600ft (500m) from the bow of the Titanic wreck.
With its headline "Titanic claims lives of five more victims", the Daily Express places the explorers' deaths besides more than 1,500 people who died when the Titanic itself sank in 1912. The crew on board the Titan submersible were making the deep sea journey to see the wreck.
"Lost to the deep" is the Daily Mirror's headline alongside a picture of what it calls the "doomed" Titan sub.
Striking a pessimistic tone, the Sun says "they had no chance", adding that the vessel carrying the five adventurers "imploded one hour and 45 minutes into its journey". The exact timeline is not yet clear, but the US Navy has said it detected "an acoustic anomaly consistent with an implosion" shortly after the Titan lost contact with the surface.
Reaction to the Bank of England's decision to raise interest rates to 5% is another big story across Friday's front pages. In its lead, the Financial Times says the surprise hike is part of the central bank's effort "to put a lid on inflation". Prime Minister Rishi Sunak is quoted by the paper saying further tax cuts would have to be put on the "backburner".
The i newspaper headlines on Mr Sunak's remarks, saying the prime minister has ruled out tax cuts after the central bank's interest rate hike. Thursday's increase was the "record 13th consecutive rise in bid to tame high inflation" the paper reports.
The Guardian says Mr Sunak's pledge to ease the cost of living crisis is "in tatters" as a hike in interest rates sparks recession fears. The current rate - 5% - seems likely to rise even higher, with Bank governor Andrew Bailey saying that if prices continue to rise rapidly then further rate increases will be needed.
Meanwhile, the Daily Telegraph reports on government sources saying the US's "refusal" to back Defence Secretary Ben Wallace as the next Nato chief has done the UK "a bad turn". On Wednesday, Mr Wallace said he was out of the race, implying the US wanted current Nato chief Jens Stoltenberg to stay on as the alliance's leader. According to the paper, Mr Wallace's allies said they believed his ambitions were "thwarted because the US president refused to endorse his candidacy".
The Daily Star reports on comments by the boss of Thames Water, saying losses of 630m litres of water per day are due to "a hot summer and wet winter".

Friday's front pages focus on the fate of those on the Titan submersible, as officials declared all five explorers dead after a "catastrophic implosion".

"Titanic claims lives of five more victims" is the headline of the Daily Express.

Several papers picture the five explorers who died: British businessman Hamish Harding, 58, British-Pakistani businessman Shahzada Dawood, 48, his son Suleman, 19, French navy diver Paul-Henry Nargeolet, 77, and OceanGate CEO Stockton Rush, 61.

Shahzada and Suleman Dawood's family have since spoken of their "profound grief", and Hamish Harding's family described him as a "dedicated father".

The Sun says the five men on board had "no chance", as five parts of the submersible were found approximately 1,600ft (500m) from the bow of the Titanic wreck.

Meanwhile, the Times carries pictures of the five on its front page and quotes Foreign Secretary James Cleverly as saying that the government is closely supporting the British families affected.

Dawood family/Lotus Eye Photography/Reuters
Clockwise: Shahzada and Suleman Dawood, Hamish Harding, Paul-Henry Nargeolet and Stockton Rush

The Financial Times leads with the Bank of England's decision to raise interest rates by half a percentage point. The paper says it makes the Bank an "outlier among other big central banks", after the US Federal Reserve skipped a rate increase last week for the first time in a year, and the European Central Bank implemented a rise of just a quarter percentage point.

The Guardian's headline warns of fears of a recession. It says markets are forecasting that the Bank of England will have to keep the base rate above 6% from December to June next year. It quotes the economist Ruth Gregory - from the consultancy Capital Economics - as saying that this will "trigger a recession", which is "required to reduce inflation".

"Mortgage misery for millions", reads The Times as it reports on the cumulative effect of recent rate rises, meaning that those who are not on a fixed rate are typically paying £6,300 more annually for their mortgages than they were two years ago.

The Daily Telegraph focuses on a failed bid by Defence Secretary Ben Wallace for Nato's top job. According to the paper, some of the defence secretary's allies have said US President Joe Biden "thwarted" his ambitions by failing to endorse Mr Wallace's candidacy. The paper goes on to say that senior figures in Whitehall feel "badly let down" by the snub.

A number of papers consider who would win if billionaires Elon Musk and Mark Zuckerberg fought each other - as they have agreed to do. The Times says there can be only one winner; it quotes the combat-sports journalist Nick Peet as saying "Zuckerberg all day".

The Daily Telegraph features a photo of an emotional King Charles at Royal Ascot after his horse, Desert Hero, won the King George V stakes. The paper says he watched the horse - which was bred by his mother, the late Queen - "keep her dream alive", at what was said to be her favourite racing event.

And staying at Royal Ascot - the jockey Frankie Dettori - is on a number of the back pages. "Golden Finish" says the Daily Mail - as Dettori won a ninth Gold Cup aboard Courage Mon Ami - riding in the race for a final time before he retires in the autumn.