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.

Washington will reduce tariffs on Indian imports after Modi agreed to curb purchases of oil from a sanctioned state. The move seeks to deepen trade ties, pivot India’s energy sourcing towards Western partners, and restart wider market‑access talks.

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.

Donald Trump nominated Kevin Warsh to lead the Fed, signalling a firmer stance on inflation. Markets backed the dollar and trimmed expectations of rapid rate cuts. US yields rose while gold fell as investors priced in steadier policy and renewed questions over central bank independence.