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The Financial Times’ lead reports that ministers are locked in a “ferocious” battle over whether to give tariff-free access to Australian farmers as part of a “major” post-Brexit trade deal with Australia. Sources familiar with the internal talks have told the paper that the International Trade Secretary Liz Truss regards the issue as a “crunch point” but is being met with “stiff opposition” from Environment Secretary George Eustice and Cabinet Office minister Michael Gove. The FT reports a zero-tariff deal risks a “backlash” from the British farming industry and “inflaming” arguments over Scottish and Welsh independence as tariff-free imports of Australian lamb and beef would “likely” hit Scottish and Welsh hill farms.

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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Financial Times Front Page 31st of January 2026

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.

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Financial Times Front Page 30th of January 2026

US immigration agencies under the Trump administration have awarded about $22bn in contracts since July, with Palantir and Deloitte among winners. ICE’s spending has doubled, and donor-linked Fisher Sand & Gravel has gained about $6bn. Deals cover tech, detention and logistics services.

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