BoE cut Bank Rate 0.25pp to 3.75% as inflation cools. Bailey struck a cautious tone on further easing amid signs of a slowing economy. Reeves welcomed the decision, saying it should help households and businesses, while investors see scope for more, gradual reductions.
Warner Bros Discovery’s board rejected a $108bn approach from Paramount, calling it “illusory” and urging investors to spurn it. The directors said the bid lacked funding and regulatory certainty and was inferior to an $85bn transaction they are pursuing with Netflix.
Labour’s workers’ rights overhaul cleared its final parliamentary stage, setting up implementation next year. Plans curb exploitative zero‑hours contracts, give day‑one rights to sick pay and parental leave, strengthen unfair‑dismissal protections and expand flexible working. Business groups warn of costs.
The FCA plans to relax mortgage affordability rules to widen access and support growth. Lenders could offer larger loans, particularly to first‑time buyers and the self‑employed, and take more risk. Critics warn this could push up prices and raise debt, leaving borrowers exposed if rates rise.
Investors are hedging against a potential reversal in the AI trade, lifting demand for credit default swaps and prompting caution over new bond deals. Questions over funding costs and cloud profitability at major tech groups, including Meta and Oracle, are adding to unease on Wall Street.
The EU imposed an indefinite freeze on €210bn in sovereign assets linked to a sanctioned regime, backed by Britain and partners. The step seeks leverage for diplomacy and could channel proceeds to reconstruction. The targeted state has filed a legal challenge.
Talks on the OECD global minimum tax are close to collapse as China and several EU countries oppose a US carve‑out meant to ease compliance for multinationals. Officials warn failure could upend the pact and revive threats of retaliatory tariffs, leaving cross‑border tax rules in limbo.
The Fed cut interest rates to a three-year low, its third reduction in a row, saying a softening jobs market now outweighs inflation. Powell said the call was close, policymakers were split, and guidance remains data-dependent amid risks to employment and growth.
Washington has given Kyiv’s president days to respond to a proposed peace framework that would cede territory in exchange for security guarantees and economic relief. Allies, including the UK, urge a swift, credible plan that upholds sovereignty, with discussion of a seasonal truce.
Paramount has made an all‑cash bid for Warner Bros Discovery, derailing Netflix’s agreed deal. Backed by investors linked to Jared Kushner and Gulf capital, the move forces WBD’s board to reassess options and could reshape studio alliances and streaming competition.
The Fed is poised to cut rates, even as officials split over the outlook under Trump. Softer jobs data and slowing pay for low earners support easing, but critics warn it risks fuelling prices and frothy assets. The White House is ready to defend the decision.
Christopher Harborne has given Reform £9m, a record donation that puts the party top of quarterly fundraising with more than £10m raised. The gift bolsters Nigel Farage’s campaign, leaving the Tories and Labour trailing on reported totals.
Bond investors cautioned the US Treasury that selecting Kevin Hassett to replace Powell as Fed chair could unsettle markets, citing worries over his perceived political ties and potential for sweeping rate cuts. Officials said the selection process continues, with alternatives under review.
Nigel Farage told Reform donors he expects an arrangement with the Tories before the next election, possibly a merger or pact to avoid splitting the vote. Citing the fall‑out from 2019, he said past dealings will shape any terms. With an outright Reform win seen unlikely, a tie‑up could increase leverage over policy and seats.
OBR chair Richard Hughes has quit after a review concluded a Budget leak resulted from failings in the watchdog’s leadership, with a similar error at the Spring Statement. The episode heightens tension with the Treasury as ministers consider tightening OBR protocols.