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- Spain arrests fugitive escape master wanted by Italian authorities
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Business
Russia’s economic situation is deteriorating after two years of growth linked to a shift to a war economy, according to IMF Managing Director Kristalina Georgieva. Despite raising the 2026 growth forecast slightly, Georgieva warned that inflation and sanctions severely restrict long-term prospects.
James Murdoch has finalised a deal to acquire New York Magazine and the Vox Media Podcast Network for over £300 million, enhancing his media portfolio. The transaction includes Vox’s news site and popular podcasts, while CEO Jim Bankoff will continue to lead operations under Lupa Systems.
The EU’s trade deal with South America’s Mercosur bloc has begun provisional implementation after 25 years of negotiations. This agreement forms one of the world’s largest free trade areas, encompassing 720 million consumers and aiming to reduce tariffs on over 90% of bilateral trade.
Chancellor Rachel Reeves is set to unveil a £15.6bn transport investment package aimed at boosting infrastructure across the North, Midlands and West Country. The cash will fund tram, train and bus improvements, including major projects in Greater Manchester, West Yorkshire, and the West Midlands.
The London business newspaper CITY AM reports economists are warning the PM’s defence spending boost will come at a heavy price – and asks who’s going to pay.
Elon Musk is to launch $300 million share offer in bid to refocus on business after a wild time in US politics – that hit the billionaire’s pocket hard.
KKR, previously the preferred bidder to rescue Thames Water, has withdrawn, complicating the company’s financial stability amid a £22.8bn debt crisis.
The UK government is prepared to take legal action against Roman Abramovich over £2.5 billion in frozen proceeds from the sale of Chelsea FC, intended for humanitarian aid in Ukraine.
Fraudster conned luxury hotels by selling fake Scottish tea in a scam that spanned years and left him living the life of a gangster.
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