Business

Australia will create an A$1.2 billion strategic reserve focused on antimony, gallium and rare earths, and Treasurer Jim Chalmers promoted the plan to G7-plus finance ministers in Washington.

Coinbase CEO Brian Armstrong said the company cannot support a draft U.S. bill that seeks to set a regulatory framework for cryptocurrencies and assign policing of spot crypto markets to the CFTC. The bill's markup in the Senate Banking Committee was scheduled for Thursday, and Reuters said it is unclear if the process can proceed without Coinbase's backing.

US existing‑home sales fell to about 4.06 million in 2025, a roughly 30‑year low, while median prices rose and mortgage rates eased toward the end of the year.

An article reports that on January 12 Reform UK hosted former Conservative figures and that Nadhim Zahawi said Britain needs Nigel Farage as prime minister.

Two Leicestershire towns, Coalville and Ashby-de-la-Zouch, are considering bids to be the UK's first Town of Culture for 2028, and their MP Amanda Hack has said she would back the bids.

The Gates Foundation approved a record $9 billion budget for 2026 and set a cap on operating costs, while announcing plans to reduce up to 500 staff positions over the next five years.

Chancellor Rachel Reeves announced a major Northern Powerhouse Rail investment to connect Liverpool, Manchester, Leeds, Bradford, Sheffield and York with faster, more frequent services, saying it responds to long-standing underinvestment.

A Cheshire dairy farmer who previously stopped HS2 taking about 300 acres says a new government plan for a north–south rail line has revived uncertainty over the family's farm and local properties.

An Italian court acquitted influencer Chiara Ferragni of aggravated fraud in the Pandorogate case; prosecutors had accused her of promoting charity-linked products that allegedly misled consumers, and it is not yet clear whether they will appeal.

First Minister Michelle O'Neill has urged the UK government for greater funding and budget flexibilities to secure Stormont's first multi-year budget in over a decade; the draft plan from Finance Minister John O'Dowd is under public consultation and has not been agreed by the Executive.

A 2.8% cost-of-living adjustment will raise the Social Security maximum monthly benefit to $5,251 in 2026; to qualify for the maximum, beneficiaries must have 35 years of work, have paid maximum payroll taxes for those years, and claim benefits at age 70.

A homeowner opened kitchen cupboard doors and raised the heating after temperatures fell to about -5°C, and reports frozen pipes thawed within two hours; British Gas advises thawing frozen pipes with hot (not boiling) water and ensuring pipes are insulated.

Heated Rivalry, a queer ice hockey romcom, has driven interest in hockey and highlighted how inclusive storytelling exposes hyper-masculine cultures in sport.

The Labor Department reported the producer price index rose 0.2% in November from October and 3% from a year earlier; the release was delayed by last fall's 43-day federal government shutdown.

The government says a recent auction secured 8.4GW of offshore wind, including the first phase of Berwick Bank, while the sector faces higher project costs and critics warn contracts may lock in elevated prices.

Klarna has added instant peer-to-peer payments for users in 13 countries, including the UK. The Financial Conduct Authority is consulting on bringing buy now, pay later into its remit, with rules expected to take effect in July 2026.

Hays reported a fall in recruitment fees at the end of 2025 and said it expects a new-year 'return to work' boost while forecasting about £20 million profit for the first half of its financial year.

Barclays published a short guide called 'Savvy ways to save without noticing' that lists five simple saving methods, including a 'vanishing £2 coin' jar idea, daily penny transfers, smaller ATM withdrawals, and breaking goals into milestones.

Vistry reported slightly lower full-year revenue and a small rise in adjusted pre-tax profit, and welcomed the government's £39 billion, ten-year Social and Affordable Homes Programme which aligns with its Partnerships strategy.

After a strike by delivery workers, the government privately urged quick‑commerce companies to stop promoting explicit 10‑minute delivery deadlines; some firms such as Blinkit have removed the promise but wider compliance appears unclear.

TGI Fridays has closed 16 UK restaurants, resulting in 456 job losses, while Sugarloaf Holdings has bought the UK business and will operate 33 outlets, administrators said.

Riyadh hosted the fifth Future Minerals Forum ministerial roundtable, bringing representatives from 100 governments and 70 international organisations to discuss a draft Future Minerals Framework and the appointment of a 17‑member steering committee to guide implementation.

China reported a full-year trade surplus of $1.189 trillion for 2025, with exports and imports both beating forecasts, customs data showed.

An article lists six UK banks offering cash incentives for switching in 2026 and highlights TSB's offer, which requires switching by March 20, depositing at least £1,000, making five debit-card purchases and logging into the TSB app to qualify for rewards totalling up to £200.

The Commons backed an inflation-linked rise in alcohol duty that takes effect on 1 February, and modelling from UKHospitality suggests about 540 pubs could close in 2026.

Asian stocks rose modestly, led by Japanese shares, as a weak yen—at its weakest since July 2024—revived concerns about possible market intervention and the prospect of fiscal stimulus after a reported snap election; gold and silver also hit record highs amid geopolitical tensions.

The government has set out a major Northern Powerhouse Rail programme, with a £45 billion funding cap and an initial £1.1 billion for development and design work.

The government announced a new rail line between Birmingham and Manchester but provided no timetable or funding details, and said it would open only after Northern Powerhouse Rail is completed.

The government has outlined the Northern Powerhouse Rail programme, allocating £1.1bn for design and preparation and planning phased upgrades and new lines with construction not expected before 2030.

Royal expert Richard Fitzwilliams said reports showed Prince Harry recently went on a skiing trip while Meghan Markle stayed in Montecito with their children, and he noted Harry is preparing for a review of his UK security as Meghan focuses on her brand, As Ever.