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.

Donald Trump threatens to sue the BBC for more than $1bn, alleging an edited speech defamed him. The BBC has acknowledged a judgement error but denies intent. The dispute intensifies scrutiny of the broadcaster’s leadership, fuelling debate over governance, editorial standards and independence.

Tim Davie resigned as BBC DG amid a row over a Trump documentary and allegations of bias and reporting failures. News chief Deborah Turness also quit. The board has launched reviews of editorial controls as the broadcaster seeks to restore trust and stability.

Big tech shares linked to AI shed about $1.2tn as investors questioned lofty valuations amid signs of a US slowdown. The Nasdaq fell 4.6%, putting Wall St on course for its worst week since April. Declines were led by Nvidia, Microsoft and Apple, with sentiment turning against richly priced growth stocks.