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In other news, the Financial Times reports that Chancellor Rishi Sunak has tasked his officials with scoping out plans for a possible windfall tax on more than £10bn of excess profits for electricity generators in a bid to help families struggling with the cost of living. The paper says Treasury officials are devising a scheme that would go further than Labour’s original windfall tax idea, encompassing wind farm operators in addition to North Sea oil and gas producers. But one analyst warns that such a plan would be a “blunt instrument”.

Financial Times Front Page 6th of February 2026

Keir Starmer apologised to victims of Jeffrey Epstein amid scrutiny of links to Peter Mandelson. He said Mandelson would continue advising him, despite concern from some Labour MPs. Questions grew over security vetting and access, with calls for transparency as officials delayed releasing related files.

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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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