Business

Officials say 67 people have died in a fire at Karachi's Gul Plaza, and rescue teams are still searching the damaged building.

A late-2025 survey of state education board members found few states mandate district AI policies, leaving most decisions to local school districts while officials raise concerns about student safety, data privacy and equity.

After one year of sweeping "reciprocal tariffs" under President Trump, US customs revenue rose by about US$287 billion while the overall US trade balance (goods and services) worsened by about US$69 billion.

PensionBee warns that many higher earners and the self-employed risk missing pension tax relief if they do not file a Self-Assessment tax return by the 31 January deadline; the group says £1.3 billion went unclaimed by higher and additional-rate taxpayers between 2016 and 2021.

Ofgem has ordered OVO Energy to pay £2.77m after Warm Home Discount rebates were delivered many months late to nearly 12,000 customers; affected households will receive payments that could total up to £400 in some cases.

Official figures show public sector net borrowing was £11.6bn in December, down from £18.7bn a year earlier, with year-to-date borrowing at £140.4bn.

Mark Carney told the World Economic Forum that the rules-based international order is undergoing a "rupture" and urged middle powers, including Australia, to band together.

A US aviation safety campaign group told a Senate subcommittee that the Air India Boeing 787-8 involved in the June Ahmedabad crash had a long record of technical and electrical problems dating from early 2014; India’s Aircraft Accident Investigation Bureau is leading an ongoing inquiry with assistance from US and UK agencies and Boeing.

At the World Economic Forum in Davos, President Trump outlined measures to lower mortgage and credit card interest rates and to bar large institutional investors from buying single-family homes. He signed an executive order to review rules on investor purchases and said the government would buy $200 billion in mortgage bonds.

Many Venezuelan migrants in Latin America are considering returning amid recent political change, while worries about continued repression and economic instability remain.

Bystanders entered the ocean to rescue a woman from a sinking SUV in Virginia, and she was removed from the vehicle; Virginia Beach Police said the driver and two rescuers were treated for non-serious injuries.

Officials said a retaining wall collapse caused a commuter train to derail near Barcelona; the train driver was killed and at least 20 people were injured, four critically.

At Davos, Canadian prime minister Mark Carney warned that the post‑war rules‑based international order is eroding and urged middle powers to form flexible, issue‑based coalitions; he said 'compliance will not buy safety.'

South Korean President Lee Jae Myung said North Korea produces enough nuclear material each year for 10 to 20 weapons and is improving long-range missile capabilities; he suggested a 'Trump-style approach' could help reopen talks.

A woman trapped in an SUV that entered the water near Bubba's Restaurant in Virginia Beach was pulled free by bystanders before the vehicle submerged; police are investigating and the cause remains undetermined.

A senior barrister was arrested on return to Sydney after authorities say they found alleged sexualised messages and an image linked to minors; he was released on bail with strict conditions and will next appear in court in March.

U.S. President Donald Trump is attending the World Economic Forum in Davos and is expected to meet global business leaders after his special address; several senior U.S. officials, including Treasury Secretary Scott Bessent, are accompanying him.

A commuter train derailed near Gelida outside Barcelona after a containment wall fell on the track during heavy rain, officials said; the driver was killed and about 20 people were reported injured.

A £15 billion Warm Homes Plan will fund solar panels, heat pumps and batteries with free upgrades for the poorest households and measures intended to cut bills for five million homes by 2030.

Canada will cut a 100 per cent tariff on Chinese electric vehicles to 6.1 per cent and replace it with an annual import quota starting at 49,000 vehicles in 2026; China will lower canola tariffs to 15 per cent in return.

Thousands of savers could face a two-year delay to pension access after giving up a protected pension age without realising it, pensions experts reported.

Voters will decide a referendum on Sapelo Island to overturn a 2023 McIntosh County zoning change that doubled the maximum home size in Hogg Hummock; residents say the change could lead to higher property tax assessments.

Chancellor Rachel Reeves will announce at the World Economic Forum in Davos that some global firms will be offered refunded visa fees and faster sponsor qualification to encourage highly skilled staff to the UK. Details of the measures and any wider support packages have not yet been published.

Chancellor Rachel Reeves will announce at Davos that the UK will reimburse visa fees and offer fast-track sponsor licences for selected international firms in AI, life sciences and sustainable energy.

Valentino Garavani has died at 93, his foundation said; he will lie in state at Piazza Mignanelli on Wednesday and Thursday and a funeral service is scheduled for Friday at the Basilica of Saint Mary of the Angels and Martyrs.

Authorities say roughly 327,000 people are sheltering after widespread flooding in Gaza province, where about 40% is reported submerged; rescue operations and evacuations are ongoing.

Spain declared three days of mourning after a collision between two trains near Adamuz that left at least 40 people dead and dozens injured; officials say a full, transparent investigation will follow.

Several lenders are offering two-year fixed mortgages for first-time buyers below 4%, with the cheapest reported at 3.96% on a 10% deposit; fees and account or postcode restrictions apply.

Monzo will offer a free, HMRC-recognised tax tool powered by Sage to its business customers ahead of Making Tax Digital for Income Tax starting in April; Monzo’s research estimates UK small businesses spend about £4.8bn a year on tax and accounting software.

Rescuers recovered 23 bodies after a fire at the Gul Plaza shopping centre in Karachi, and authorities say they are still searching for dozens more people while an inquiry and investigation are under way.