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.