Defence is the best form of attack City AM reports Labour is now rated above the Conservatives for who is best to handle defence and national security, with an extraordinary 13 points shift towards the government since just last month. The government have firmly parked their tanks on what is usually considered a Conservative stronghold, an ominous sign for the opposition. While still far from the top issue, defence and national security are up six…
Europeans move towards seizing €200bn of frozen Russian assets The FT reports on Europe’s preparation to take over from the US. The paper says Europe’s biggest powers are moving towards seizing more than €200 billion in frozen Russian assets. The paper says France and Germany, who had long opposed a full-blow seizure of the assets held in the EU, are now discussing with the UK and other countries how they could be used. In more USA…
UK and France aim for new Ukraine peace deal after White House fracas The FT reports that the UK and France have taken over peace talks following Zelensky’s bust-up with Donald Trump. The paper notes that there are calls for Europeans to put troops on the ground in Ukraine and a plea for the US to help with security – something that Donald Trump has repeatedly made clear he isn’t interested in doing. Catch up…
The New Inheritocracy This week’s Economist reports that inheriting is becoming nearly as important as working. More wealth means more money for baby boomers to pass on. That is dangerous for capitalism and society. Catch up on all the business pages here
Trump’s threat of 25% tariffs on EU goods heightens fears over trade war The FT reports Donald Trump has threatened to slap 25 per cent tariffs on imports from the EU, as he lashed out at the bloc, saying it “was formed to screw the United States”. The remarks came during the first cabinet meeting of Trump’s second term on Wednesday, which featured an appearance by Elon Musk, the billionaire whom the US president has…
Defence pledge triggers tough choices on tax CITY AM reports Keir Starmer’s commitment to increase the defence budget to three per cent of GDP in the next parliament will require difficult choices on tax and spending, analysts have warned.
Europe’s worst nightmare This week’s The Economist ponders how Europe should deal with Trump and Putin. It says the region has had its bleakest week since the fall of the Iron Curtain but the implications have yet to sink in.
Can Friedrich Merz save Germany? The Economist looks ahead at the upcoming German elections (23 February) asking the question: Can Friedrich Merz save Germany? “He is on track to win the election, but to fix Europe he will have to fix his country first”
Thames saved with lifeline CITY AM reports on the High Court giving the green lift to a £3bn loan to help the Thames Water out of trouble. The UK’s biggest water supplier had been set to run out of money by 24 March without a £3bn loan from its creditors, amid debts of more than £19bn. Such an outcome would have almost certainly resulted in the company being placed in a special administrative regime (SAR)
US and Russia hail detente as path to rapid ending of Ukraine conflict The Financial Times says the negotiations between Russia and the US regarding an end to the Ukraine conflict is an “extraordinary turn of events in a matter of days.” The paper says the sight of Russian and US flags flying next to each other was “almost unthinkable even a few weeks ago.” Ukraine and the EU states are fearing that US President Donald Trump will…
Retail chiefs warn perfect storm of taxes hitting jobs CITY AM says a heavyweight group of retailers has warned the Treasury that hundreds of thousands of jobs are at risk in the retail sector due to unsustainable cost hikes this year. It’s the latest in a long string of warnings from the retail sector, which has been vocal about the coming damage to jobs and investment on the British high street.
Job losses will restrain price pressures, says BoE rate-setter The FT says companies will struggle to raise prices this year as consumers are hit by job losses and spending softens, according to a Bank of England rate-setter who argues the central bank should have cut interest rates more aggressively last week.
This week’s The Economist reports on “pig-butchering”, the most lucrative scam in a global industry that steals over $500bn a year from victims all around the world.
The FT leads with China’s retaliatory tariffs on the US, which the paper says could set off a “trade war” between the two nations.
The Economist says IN HIS OWN inimitable style, President Donald Trump has identified something he dislikes and approached it with a wrecking ball. Deprived of American funding by an executive order, aid programmes around the world are on the brink of collapse. But for the intervention of a judge at the 11th hour on January 28th, large parts of America’s federal government might have suffered a similar fate.
The Financial Times says the Bank of England has halved its growth forecast, with a cut to rates powering the FTSE 100. The bank is expecting the economy to grow by just 0.75% this year in what the paper describes as a blow to Chancellor Rachel Reeves.
Trump’s takeover proposal for Gaza condemned by US allies across the world The FT says Donald Trump has outdone himself. After a tumultuous return to the White House, the mercurial US president has unveiled arguably his most reckless plan to date. Having threatened to seize Greenland and the Panama Canal, Trump now has Gaza, the war-shattered Palestinian territory, in his sights. His proposal to move Gaza’s 2.2mn population elsewhere, with the US taking over the…
Brits braced for tax hikes in the future City AM reports since coming into power, Labour has repeatedly attempted to position itself as the energetic party for economic growth, capable of shocking a lagging system to reach new heights. But last week, the Chancellor of the Exchequer’s announcement was far from the electric economic thinking needed to revive a faltering system. Rather, it exposed the new government’s fundamental weaknesses: a lack of coherence, credibility and…
Growth? Voters aren’t buying it A majority of Brits now have little confidence in Rachel Reeves’ plan to generate economic growth despite a renewed push from the Chancellor to kickstart Britain’s ailing economy, exclusive polling for City AM has found. The front page also reports questions are swirling over a major contract at HS2 Euston after a failed bidder alleged foul play during the procurement process.
As anticipated, the Financial Times highlights the aftermath of President Donald Trump’s decision to halt sweeping tariffs on Mexico just hours before they were set to take effect. The move left markets in turmoil, with investors and businesses scrambling to make sense of the flurry of policy announcements coming from the White House. The paper describes the situation as a “whipsaw” effect, underscoring the uncertainty gripping global markets.
US President Donald Trump said Monday that Chinese AI startup DeepSeek’s dark-horse entry into the AI race should serve as a “wake-up call” for American companies developing artificial intelligence. “Hopefully, the release of DeepSeek AI from a Chinese company should be a wake-up call for our industries that we need to be laser-focused on competing to win,” Trump told a Republican congressional retreat in Florida. Trump’s comments came after the AI model powering DeepSeek’s chatbot…
Nvidia sinks as Chinese AI startup Deepseek spooks global markets Nvidia shares and other US tech giants tumbled on Monday as Chinese artificial intelligence (AI) startup Deepseek disrupted global markets. Nvidia, a key driver of the AI stock boom due to its advanced chips, saw its shares plummet over 11 per cent on Germany’s Tradegate on Monday. The $3.49 trillion (£2.79 trillion) worth chip maker is trading at $142.62 (£114.09), nearly ten per cent down in pre-market…
UK economy: Firms prepare to cut staff as they brace for slowdown, CBI says A persistent slowdown in activity among private sector firms could weigh on economic growth over the coming months, with businesses set to cut staff and raise prices, according to a survey. The upcoming increase to national insurance contributions has prompted firms to assess their budgets urgently, the Confederation of British Industry (CBI) said. Output across the private sector is expected to…
Billionaire Sir Leonard Blavatnik injects £630m to prop up Netflix-rival DAZN as losses mount Billionaire Sir Leonard Blavatnik has injected a further $827m (£630m) into streaming giant DAZN in a bid to become a major rival to Netflix. The businessman has now invested more than $6.7bn (£5.3bn) in the London-based sports streaming service, according to newly-filed accounts with Companies House. DAZN is owned by Access Industries, a New York-based private holding company founded by Ukrainian-born…
Project 1897 – The imperial presidency The Economist says What will Donald Trump do next? A decade after he became the Republican front-runner, it is still the urgent question. In a distracted era Mr Trump has an unmatched genius for grabbing attention. And for reimagining presidential power. His second inauguration took place in the Capitol’s Rotunda, the same spot where four years earlier his supporters had punched police officers in the face.
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