Netflix has agreed an $83bn takeover of Warner Bros, combining major film and TV assets to form a global entertainment giant. The deal will proceed alongside a spin-off of cable operations. Regulators will review the merger; both sides expect cost savings and stronger streaming scale.

Owners of high-value homes are trimming asking prices to slip just below new thresholds dubbed a “mansion tax” from the Budget. Agents say the practice is widespread and will cut stamp duty receipts, challenging Treasury forecasts, though some analysts expect the overall impact to be modest.

Economists have warned the Chancellor that raising the higher income tax rate would affect millions of workers, including teachers and police officers. Reeves is reportedly considering breaking Labour’s manifesto pledge to ease spending pressures.

Greater Manchester Police has admitted that officers shot and killed a man they believed to be the lone attacker in Heaton Park.