After the Supreme Court struck down the legal basis for President Trump’s sweeping tariffs on Friday, many U.S. trading partners saw the tariff rate on their goods lowered from what they faced before the ruling. But for others, like Britain and Australia, the math went the other way, the New York Times reported. Britain became the first country to reach a trade deal during Mr. Trump’s second term, and both governments emphasized the “special relationship” between the two countries.

Global Counsel, the advisory firm co-founded by Peter Mandelson, is to collapse into administration, blaming the “maelstrom” caused by revelations about the former peer’s relationship with the convicted sex offender Jeffrey Epstein, The Guardian reported. Companies including Barclays, Tesco and the Premier League have all deserted Global Counsel, despite the company’s efforts to sever ties with Mandelson and the company’s co-founder Benjamin Wegg-Prosser.

Warrington council has asked to borrow £354mn from the government to fund day-to-day services and stave off bankruptcy after years of warnings that the authority’s high-risk investments could threaten its financial viability, the Financial Times reported. The government last year sent in a team of experts to the Labour-run council, one of the most indebted in the UK, after a review concluded it had been making risky investments to avoid spending cuts.

The U.K’s rate of inflation slowed in January, furthering the chances of a rate cut by the Bank of England when policymakers next meet in March, the Wall Street Journal reported. Consumer prices rose 3.0% in January on year, compared with a 3.4% uptick in December, the Office for National Statistics said Wednesday. A fall in inflation suggests a rate cut by the U.K. central bank could come sooner rather than later.

The number of hospitality businesses entering insolvency eased very slightly in 2025, yet remained historically high, reflecting challenging trading conditions for the industry, CatererLicensee.com reported. Some 3,353 accommodation and food service companies, including hotels, restaurants and pubs, closed in the twelve months to December 2025, down 3.2 % from 3,465 for 2024, according to government data. Q4 saw a 2.4% improvement over Q3, with 786 companies in trouble.

Property website Rightmove said U.K. house prices in February were virtually flat on month as a high choice of homes for sale and steadying buyer activity prevented a rise, the Wall Street Journal reported. Rightmove said that the number of homes for sale was at an 11-year high for this time of year, as confidence rebounded after the prolonged uncertainty surrounding the country’s autumn budget. According to the online real-estate platform, January was the strongest start to the year for asking prices since 2020, with prices rising 2.8% since December.

The lender that seized control of Very from the Barclay family has provided the online retailer with £150m in financial support while it attempts to engineer a sale, The Telegraph reported. U.S. investment giant Carlyle has pumped new money into Very as part of a support package to ease financial pressures on the debt-laden business. As well as providing a cash injection, Carlyle has also converted some of its debt into equity to help reduce pressure on the retailer from interest payments. The Telegraph understands that Carlyle’s total package is £150m.

Household debts are rising at their fastest pace in seven months, fuelled by an increase in borrowing among the young, The Telegraph reported. Borrowing rose across all age groups apart from 25 to 34-year-olds in February, according to the S&P Global Consumer Sentiment index. Debts climbed the fastest among those aged 18 to 24. Gen Z debt surged, with this age group struggling to find work. The unemployment rate for 16 to 24-year-olds jumped to 15.3pc in the three months to September.