Who banned TikTok? Politicians toss culpability like a football
Ursula von der Leyen seeks closer economic ties across EU as new Trump era begins
The president of the European Commission, Ursula von der Leyen, has called for a new era of EU integration to sustain growth in the face of a global economy “fracturing along new lines” as Donald Trump enters the White House.Speaking at the World Economic Forum in Davos while the US president prepares to press ahead with his protectionist agenda, the head of the EU executive said the bloc could no longer rely on the approach that has sustained it this century.“In the last 25 years, Europe has relied on the rising tide of global trade to drive its growth. It has relied on cheap energy from Russia, and Europe has too often outsourced its security. But those days are gone,” von der Leyen told the summit in the Swiss resort
Reeves bids to intervene in car finance case that could cut lenders’ £30bn bill
The chancellor, Rachel Reeves, has launched a rare bid to intervene in a supreme court hearing in the car finance commission scandal that could reduce the £30bn-plus compensation bill lenders currently face.Shares in Lloyds and Close Brothers, two of the biggest providers of motor finance, surged on Tuesday after the Treasury submitted an application to the court arguing it should be able to contribute evidence in a case that could “cause considerable economic harm” and make car loans harder to get and more expensive.The Treasury submission on Monday added that the case might “generate a perception that regulation in the UK is uncertain”. The letter, first reported by the Financial Times, also warned judges that “any remedy should be proportionate to the loss actually suffered by the consumer and avoid conferring a windfall”.News of the intervention sent Lloyds shares up nearly 4% on Tuesday, making it the top FTSE 100 riser, while Close Brothers surged 22%
‘Pocket money’ toys costing less than £10 sell well as UK parents cut costs
“Pocket money” toys that actually fit in your pocket have become increasingly popular in the struggling sector as parents seek out cheaper playsets and “kidults” collect mini-figurines based on films and TV shows.In 2024 UK toy sales declined 3.7% to £3.4bn, according to an annual industry report by the market research company Circana. Despite a gloomy headline picture described as “resilient”, there were bright spots as toy collecting took off among Britons of all ages
Experts alarmed by Trumps’ crypto meme coins: ‘America voted for corruption’
Donald Trump was accused of corruption as he returned to the White House days after launching a multibillion-dollar cryptocurrency meme coin. Former government ethics officials and presidential experts said the venture amounted to a “shameful” conflict of interest.The president and his wife, Melania, each announced their own respective coins ahead of his inauguration. Both were valued at billions of dollars as Trump took the oath of office on Monday.“There are shameful and major conflicts of interest with respect to his family business benefiting from his cryptocurrency policies,” said James Thurber, the founder and former director of the Center for Congressional and Presidential Studies
Is UK jobs market already showing warning lights over Reeves budget?
When the latest labour market figures were being gathered in the run-up to Christmas by the Office for National Statistics (ONS), employers were only just beginning to digest a budget that will load about £25bn on to their wage bills.The data from December showed pay increased in line with expectations, at 5.6%, but the unemployment rate was higher than City economists forecast, at 4.4%, and the number of vacancies fell for the 30th consecutive month.A trend over the previous year for employers to reduce staff and hiring was continuing its steady course
Centrica may close UK’s largest gas storage site. Is the energy system really ready? | Nils Pratley
Monday was another of those dunkelflaute days when the wind barely blows, the sun doesn’t shine and it’s cold. At times, gas-fired power stations were generating 70% of the UK’s electricity while windfarms and solar facilities were contributing as little as 7% combined.It was a reminder of why, even under the government’s rapid programme to decarbonise the electricity grid by 2030 by expanding renewables, the current gas-fired capacity of 35GW will be retained as backup. The fossil-fuelled plants may stand idle most of the time – they are scheduled to account for only “up to 5%” of generation over a full year in 2030, versus 34.7% in 2023 – but, when they’re needed, they will sometimes still be operating at full pelt
Sabalenka ‘finds way out’ with final-set escape against Pavlyuchenkova
Jos Buttler says England boycott of Afghanistan fixture ‘not the way to go’
Donald Trump’s return to power lays bare the lie that sports don’t matter | Jules Boykoff
Will Jayden Daniels and the Commanders continue their fairytale playoff run?
The Breakdown | France’s star turns primed to convert club form into Six Nations success
College Football Playoff National Championship Game: Ohio State 34-23 Notre Dame –as it happened