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On January 21, 2026, President Trump arrived late at the World Economic Forum in Davos amid escalating tensions over his plan to acquire Greenland from Denmark. European leaders, including Macron and von der Leyen, condemned Trump's aggressive stance and tariff threats. Trump insists Greenland is vital for US security, while Europe warns of a rupture in transatlantic relations. Discussions on Ukraine and global economic issues also dominate the forum.
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President Trump continues to push for U.S. control of Greenland, provoking European and global criticism. At Davos, he heaps scorn on allies, while European leaders respond with veiled denunciations amid fears of escalating trade and military tensions. The story highlights shifting global alliances and rising geopolitical risks.
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From April 6, 2026, most UK benefits will rise by 3.8%, with the state pension increasing by 4.8%. These adjustments aim to address inflation and wage growth, but many recipients will see the increases reflected in payments processed retrospectively. Support schemes and key dates are outlined.
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At the 2026 World Economic Forum in Davos, US President Trump’s threats and European leaders’ calls for independence highlight rising global tensions. Key figures like Mark Carney and Ursula von der Leyen condemned US aggression, while Trump’s speech drew mixed reactions amid fears of a fractured international system.
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Rachel Reeves and Peter Kyle attended the World Economic Forum in Davos, emphasizing the UK’s economic resilience and trade opportunities despite US tariff threats and geopolitical tensions. Reeves announced visa fee refunds and investment initiatives, while Kyle highlighted potential benefits from global adversity. The US-China Greenland crisis overshadowed the event.
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Donald Trump has sharply criticized the UK’s plan to transfer sovereignty of the Chagos Islands to Mauritius, calling it “great stupidity.” This marks a significant U-turn from his previous support, with implications for UK-US relations and international law, amid ongoing debates over the islands and Greenland.
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California Governor Gavin Newsom sharply criticized European and American leaders at the World Economic Forum in Davos for their perceived weakness and complacency regarding US President Trump's threats, including his ambitions to seize Greenland and control Arctic territories. Newsom urged unity and strength, warning of the dangers of appeasement.
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European dependence on US LNG has increased sharply, replacing Russian gas post-Ukraine invasion. This shift, driven by US strategic interests, raises energy security concerns amid low EU reserves and US protectionist policies, with potential for higher costs and geopolitical leverage.
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The UK government has announced a cap on ground rents at £250 annually for leaseholders in England and Wales, effective from 2028. The move aims to address longstanding leasehold issues, ban new leasehold flats, and enable existing leaseholders to switch to commonhold, marking a significant reform in property ownership.
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UK's CPI inflation rose to 3.4% in December from 3.2% in November, driven by higher tobacco, airfares, and food prices. Experts see this as a temporary blip, with inflation expected to decline in 2026. The Bank of England is likely to hold interest rates steady in February.
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Major UK pub chain JD Wetherspoon warns of lower half-year profits due to £45 million surge in costs from energy, wages, and business rates. Other retailers like Currys and Morrisons report similar cost pressures, with government policies and budget measures exacerbating inflation and operational expenses across sectors.
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The Bank of England faces pressure from rising wages and inflation, with policymakers warning that rate cuts may be limited this year. Recent data shows inflation at 3.4%, driven by wage growth and external factors like US rate cuts, complicating efforts to reach the 2% target.
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UK retail sales increased by 0.4% in December, defying expectations of stagnation. Online sales surged by 4.4%, driven by demand for gold and silver amid soaring precious metal prices. For 2025, sales grew 1.3%, but volumes remain below pre-pandemic levels, with a weak final quarter.
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The UK government and NatWest have announced new initiatives to expand affordable housing, with NatWest setting a £10bn funding goal for social housing by 2028. Scotland plans to establish a new housing agency, while Dunkirk port regeneration includes a potential ferry route to Scotland, reflecting broader regional development efforts.
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The UK Parliament is set to vote on removing the two-child benefit cap, a policy linked to rising child poverty. Experts estimate this change will reduce child poverty by 550,000 by 2030, but warn further measures are needed to sustain progress amid deepening poverty levels.
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The UK government announced a 15% business rates discount for pubs and music venues from April 2026, with bills frozen in real terms for two years. Other hospitality sectors, including hotels and restaurants, remain unprotected amid rising costs and sector concerns, prompting industry criticism and calls for broader support.
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Keir Starmer's first UK prime ministerial trip to China since 2018 aims to revive economic ties amid tensions over security, human rights, and geopolitical conflicts. The visit includes a delegation of British business leaders and focuses on trade opportunities, despite concerns over espionage and human rights issues.
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Stellantis announced a $26.2 billion write-down amid a shift away from EV investments, reflecting a broader industry slowdown following US and European policy reversals. Automakers like Ford and GM also faced large losses, while some pivot to grid-scale batteries. The industry recalibrates after policy shifts and market realities.
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Recent policy measures, including tax hikes and minimum wage increases, have raised hiring costs for UK businesses, especially affecting sectors with lower wages like hospitality. Data shows firms are slowing hiring, leading to higher youth unemployment and sector instability, with concerns over future growth and business viability.
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UK Prime Minister Keir Starmer advocates for renewed defence cooperation with the EU, including discussions on rejoining the EU's SAFE defence fund and closer trade and security links. EU officials signal openness, but UK government remains cautious, emphasizing a pragmatic approach amid ongoing Brexit and geopolitical tensions.
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The UK government’s decision on a £1bn military helicopter contract remains uncertain amid ongoing negotiations and political debates. Leonardo’s future in Britain hinges on the outcome, with potential impacts on thousands of jobs and national defence capabilities. The Ministry of Defence has yet to finalize the deal, amid internal and political tensions.
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The UK has reduced its aid to the World Food Programme from $610m in 2024 to $435m last year, despite promises to fight hunger. Critics say the cuts risk lives, with rising starvation worldwide and the UK’s aid spending falling behind international commitments. The government defends the decision as part of budget reallocation.
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The UK government will from April shift recovery of the warm home discount from standing charges to unit rates, reducing household bills by £40. Meanwhile, California and other US states see energy costs rise due to wildfire costs and policy decisions, with California experiencing a 39% increase over six years. US states consider suing fossil fuel companies over climate-related insurance hikes.
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Scotland's Edinburgh Airport plans a nearly £1 billion expansion to handle passenger growth, including new gates and terminal revamp. Meanwhile, Heathrow faces crowding issues despite record passenger numbers, with plans for a third runway delayed until 2035. Dubai and Istanbul airports also see record traffic, highlighting global airport growth.
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Labour's shadow ministers, including Rachel Reeves, advocate for stronger trade relations with the EU, emphasizing the economic and security benefits of closer integration. Despite official party lines against rejoining the single market or customs union, they highlight ongoing discussions on sectoral alignment and cooperation, signaling a potential shift in UK-EU relations.
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UK government plans to empower regional mayors to introduce visitor levies on overnight stays, aiming to fund local infrastructure. Industry leaders warn this 'holiday tax' will harm families, threaten jobs, and reduce local spending, with opposition from major accommodation firms and small businesses. The debate highlights economic and political tensions over tourism funding.
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Britain is exploring ways to increase its defense budget to 3% of GDP by 2029, ahead of previous plans. Prime Minister Starmer emphasized the need to 'step up' spending amid ongoing security threats, with discussions ongoing about the timing and funding of this increase.
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Heathrow reported a 37.3% drop in pre-tax profits for 2025, totaling £575 million, despite a record 84.5 million passengers. The airport's owners, including Ardian and Gulf sovereign funds, are pushing forward with plans for a third runway, with government approval expected later this year.