Afternoon.

It’s Monday 19th October: a new report reveals how much your postcode shapes your childhood, NHS maternity units could face closure and British businesses are feeling the squeeze.

Kettle on.

📅 On this day: In 1987, stock markets around the world crashed on what became known as “Black Monday”. America's Dow Jones index fell by 22.6% in a single day, its biggest one-day percentage fall on record.

Where you grow up in England can make an enormous difference to your childhood, according to a new report from the Children's Commissioner.

Dame Rachel de Souza's office examined more than 160 measures covering children's education, health, safety and opportunities. Four local authorities reported spending nothing on youth services per teenager, while the highest-spending area spends £421. In some areas, nearly 90% of children in care are placed outside their local authority, often taking them away from familiar surroundings.

The report shows how disadvantages can pile up. A child growing up somewhere with high poverty, poor services and fewer opportunities may face several challenges at once.

The Commissioner wants governments to use the findings to target support where it's needed most, including a new emergency fund for children's services. She argues that a child's postcode shouldn't determine their opportunities in life.

Up to 20 NHS maternity units in England may need to close, according to a senior health service figure who believes concentrating care in fewer hospitals could improve safety.

Matthew Hopkins, director of acute care at the NHS Alliance, argues that some smaller hospitals don't have enough specialist doctors to maintain reliable maternity services, particularly as caesarean births become more common.

The obvious complication is that closing smaller units could mean expectant mothers travelling considerably further to give birth, particularly in rural areas. Midwives and obstetricians have argued that other solutions should be explored before closures.

Importantly, these aren't 20 confirmed closures. They're an estimate from a senior NHS figure. The challenge is balancing access to local services with the availability of specialist care.

British companies are issuing profit warnings at their highest level in almost two years, as rising costs and economic uncertainty make life increasingly difficult.

According to new figures from EY-Parthenon, 65 UK-listed companies issued warnings between July and September, up from 59 in the previous quarter. A profit warning simply means a company expects to make less money than previously forecast.

Government policy changes and geopolitical uncertainty were linked to 54% of warnings, while 35% cited rising costs. Housebuilders have been particularly affected, issuing more warnings this year than during the 2008 financial crisis.

The figures arrive ahead of Chancellor John Healey's Budget on 28th October, when businesses will be hoping for measures to ease the pressure.

France is dealing with the aftermath of widespread unrest that saw shops looted, buildings damaged and more than 2,400 people arrested. Protests over living costs and school conditions escalated into violence in several cities.

Interior minister Laurent Nuñez offered to resign over the police response, but President Emmanuel Macron refused to accept his resignation. The unrest has also unsettled financial markets ahead of next year's presidential election.

Getting onto the property ladder no longer guarantees cheaper monthly housing costs. New Hamptons research found that 56% of first-time buyers who purchased in September took on mortgage payments higher than their previous rent, the highest proportion in at least a decade.

The average monthly mortgage payment was £1,227, around £39 more than their previous rent. Of course, homeowners are also building equity in a property rather than paying a landlord.

Some of Britain's biggest hospitality employers have pledged to offer up to 100,000 jobs to young people who aren't currently working, studying or training.

The partnership, announced last Thursday, includes McDonald's, Nando's and Premier Inn owner Whitbread. Employers are aiming to deliver the jobs by the end of this Parliament, alongside training and work experience opportunities.

People blasting music on buses could face fines of up to £100 under new government guidance. Councils in England can introduce local rules tackling loud music, vaping and littering, with penalties for those who refuse to comply.

Meanwhile, a nationwide campaign is reminding train passengers to use headphones. A welcome development for anyone who's endured somebody else's entire TikTok feed on the morning commute.

The UK government has warned businesses against participating in a major Israeli settlement project in the occupied West Bank. Foreign Secretary Ed Miliband says companies involved could face legal and reputational consequences, including sanctions.

The E1 development is controversial because its location could separate East Jerusalem from other Palestinian areas, making a connected Palestinian state more difficult. Israeli settlements in the occupied West Bank are considered illegal under international law, a position Israel disputes.

Some hotels, restaurants and beauty spots have decided they've had quite enough of people turning their premises into photography studios.

The luxury Hotel du Cap-Eden-Roc in southern France now restricts photoshoots without permission, while a Cheshire farm shop has introduced restrictions during busy hours.

The businesses say they're protecting customers' privacy and keeping things running smoothly. Apparently, some people still visit restaurants for the radical purpose of eating.

Enjoy your day.

See you tomorrow.