Business

Officials say millions of Americans may receive unusually large tax refunds in early 2026 after a retroactive tax cut left payroll withholding unchanged; estimates put as much as $100 billion in higher refunds and an average refund rise near $1,000.

From 1 April 2026 the national living wage for over‑21s will rise to £12.71 an hour, but experts say unpaid hours can cut some workers' effective pay to about £10.59 and the income tax personal allowance is frozen at £12,570 to 2031.

The Telegraph reports HMRC's customer service is under strain just ahead of the self-assessment deadline, while more than 12 million people are expected to file tax returns this year.

After record 2025 production and a 25% rise in European LNG purchases, exporters face concern as imports fell in key Asian markets and benchmark gas prices remain near three-year highs.

Lloyds Bank is offering a £250 cash incentive to customers who complete a full Current Account Switch into a Club Lloyds account and transfer at least three active direct debits, with applications required by February 3.

HMRC says tax codes determine allowances and can affect how state pension is taxed, and they can be viewed and updated via the HMRC app or online account. Finance experts warn that claimants who receive taxable benefits may risk paying the wrong amount of tax.

A Lesbos court acquitted 24 aid workers of people-smuggling charges, ending a seven-year legal case that had drawn criticism from rights groups and international observers.

Patents on semaglutide are expiring in several countries, allowing generic versions of Ozempic to be produced; Canada has already lost patent protection this month.

The US said it signed an agreement to cut tariffs on Taiwanese goods to 15% and Taiwanese chip and tech firms pledged at least $250 billion in new U.S. investments.

IMF Managing Director Kristalina Georgieva said the Fund is ready to support Venezuela but needs major shareholders to recognize the country's leadership and for Venezuelan authorities to request assistance. She expressed concern about 8 million people leaving Venezuela and about rising inflation, including the risk of hyperinflation.

WXCharts weather maps indicate a roughly 400-mile snow system may approach the UK around January 27, with snow reported from northern Scotland down to London and accumulations of around 20cm possible in parts of northwest England and Scotland.

Spain recorded a record 97 million foreign visitors in 2025 and expects further growth in 2026, while popular destinations report resident tensions over housing, congestion and resource strain.

Ring doorbell footage from Tunbridge Wells shows a delivery driver placing bottled water at a doorstep and removing it shortly after; Ofwat has opened an investigation into South East Water over wider supply problems.

A federal judge allowed construction on Equinor’s Empire Wind project to resume while he reviews the administration’s order pausing five East Coast offshore wind projects, finding the government had not addressed key legal points in court filings.

Ministers have signed regulations that create a criminal offence for creating or requesting non-consensual sexual deepfake images, due to take effect on February 6; social media company X has announced restrictions on its Grok AI account in response to criticism.

Lincolnshire Police said a body was found at Foss Bank and confirmed it was 20-year-old University of Lincoln student Connor James Calleja; his family shared a tribute describing him as "incredibly kind."

LSEG has launched a new settlement service including DiSH Cash, and the article mentions its share price recently formed a double-bottom technical pattern after falling to 8,102p.

The Office for National Statistics reported GDP rose 0.3% in November, led by a services rebound and stronger manufacturing output, and it revised September to show 0.1% growth.

Oceania Cruises announced it will no longer permit children on its ships, and the move is presented in coverage as part of a broader rise in adult-only cruise offerings.

Sadiq Khan will tell ministers at Mansion House that AI could have a 'colossal' impact on London jobs, and City Hall is launching a taskforce and offering free AI training for Londoners.

Israel will present an award to the late Charlie Kirk at the International Conference on Combating Antisemitism in Jerusalem in late January. The announcement follows his killing while speaking at an American university four months ago.

TSMC reported a 35% rise in quarterly net profit to NT$506 billion and said it will raise 2026 capital spending to $52–$56 billion, up from about $40 billion last year.

President Michael Randrianirina told Asharq Al-Awsat that Madagascar views Saudi Arabia as its main partner and outlined a three-pillar plan to restore stability, invest in key sectors, and improve the business environment to attract investment.

ONS data show the UK economy rose 0.3% in November, and revised figures put growth at 0.1% for the three months to November, driven by services and a phased manufacturing restart.

Private companies in India are committing billions to green ammonia for fuel, fertilizer and novel protein production, and government incentives and a SECI tender are supporting early projects and procurement.

NHS staff report that pay has not kept pace with living costs, leaving some with debts, overdrafts or difficulty affording rent; the FT-backed Financial Literacy and Inclusion Campaign is producing tailored financial guidance for around 1.5 million NHS workers.

Asian markets were mostly higher, led by Tokyo's Nikkei which rose about 3.1% to an intraday record, while other regional benchmarks posted mixed results.

Lloyds Bank says customers who switch to eligible Club Lloyds accounts and meet the rules will receive a £250 payment, and that a confirmation email usually follows within seven working days or can be checked via the bank's Switcher Team.

Lord Blunkett criticised recent government U-turns, particularly the decision to drop mandatory digital ID for work by 2029, and urged ministers to set out clearer strategy and stick to decisions.

Silver surpassed $90 per ounce for the first time as gold reached record highs, while oil prices rose amid concerns over Iranian supply and expectations of US rate cuts.