A European leader warns a proposed US-backed deal could trade national dignity for short-term calm and risk future US aid. Allies criticised it as overly concessionary, with Europe caught off guard. He seeks terms that protect sovereignty and keep Western support, with Britain aligned.
Ministers plan a migration overhaul giving high earners and entrepreneurs a three‑year route to settled status, while lower‑paid workers could face waits of up to 15 years. The scheme raises salary thresholds and streamlines priority-sector routes to curb numbers and respond to political pressure.
UK investors have withdrawn £26bn from FTSE 100 shares this year, even as the index beats US and European markets. Caution over the Budget, a shift to cash and bonds, and tax concerns are cited. Foreign buyers seeking value and diversification are driving the rally in large UK stocks.
MI5 has warned MPs of a covert effort by China to influence politics, prompting the government to caution Beijing and urge ministers to reconsider trips. The alert follows a collapsed espionage case and is expected to accelerate tighter foreign influence rules and updated security guidance.
Ministers plan to outlaw the resale of event tickets above face value, curbing industrial-scale touting and bot purchases. Marketplaces would face new obligations and penalties. The aim is to lower costs and improve access for music and sports fans after high-profile sales controversies.
Trump’s lead trade negotiator attacked EU delays on tariff cuts, calling the issue a flashpoint and warning goodwill is at risk. He said non‑tariff barriers restrict US access and urged swift sign‑off by ministers and MEPs to protect transatlantic ties.
Investors turned against the Reeves Budget after a late U‑turn on an income tax rise sent gilt yields higher. Many questioned fiscal credibility, saying pre‑Budget signals misled them. The shift threatens higher debt‑servicing costs and could complicate the government’s growth plans.
Michael Burry will shut his fund and return capital, arguing valuations—particularly in tech—are too high and out of step with fundamentals. The disclosure came as shares fell, with AI-linked stocks under pressure, sharpening doubts about the durability of this year’s rally.
An attempt by No 10 to head off a potential leadership challenge has misfired, intensifying pressure on the PM. Briefings seen as an effort by allies to undermine Health Sec Wes Streeting angered MPs and ministers, prompting calls for an apology as Starmer vowed to fight any contest.
UK unemployment rose to 5%, above forecasts, piling pressure on Reeves ahead of the Budget. Wage growth cooled, easing inflation risks and lifting gilts on hopes of BoE rate cuts. Business groups urged protection from tax rises as households face weaker pay momentum.