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The value of private companies selling shares publicly for the first time, known as an initial public offering (IPO), has plummeted by 90% in the US and Europe so far this year, the Financial Times reports. The paper says the combination of the war in Ukraine and rising inflation and interests rates has”forced businesses to shelve plans to go public”, noting that 157 companies have raised just $17.9bn between January and May – compared to 629 firms generating $192bn in the same period in 2021.

Financial Times Front Page 5th of February 2026

Security officials warn a hostile state’s spacecraft has intercepted European satellite signals, risking exposure of unencrypted command data vital to defence and infrastructure. The UK and allies are pushing rapid encryption upgrades and tighter space monitoring to protect networks.

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Financial Times Front Page 4th of February 2026

Police have opened a criminal inquiry into Lord Mandelson’s dealings with Jeffrey Epstein, examining claims sensitive information was shared while he held government roles. Mandelson has resigned from the Lords. Starmer called the conduct disgraceful and urged full co‑operation.

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Financial Times Front Page 2nd of February 2026

Emails reveal Peter Mandelson advised Jeffrey Epstein that JPMorgan should pressure the UK over the 2009 bankers’ bonus tax, urging contact with the chancellor. He says he sought to protect jobs and investment. Labour is under pressure to address the revelations.

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