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The supreme court has deferred to executive power for decades. Its decision on tariffs is a long-overdue warningAfter two decades of deferring to executive authority and eroding anti-bribery laws, the supreme court has suddenly limited presidential power in a way that could make one ugly form of political influence a bit more difficult to pull off. Last week's ruling did not merely strip one president of his executive power to unilaterally impose levies across broad swaths of the economy – it makes it harder for any president to transform tariffs from a broad economic policy into a personal political cudgel that muzzles criticism and enforces fealty.“A Supreme Court otherwise inclined to endlessly expand Trump's authority just restricted his go-to tool, ruling that U.S. presidents do not have the power to unilaterally deploy tariffs and dole out punishment and favor to specific companies and economic sectors, friends and family, and entire countries,” said Lori Wallach of Rethink Trade.The Washing...

Ofcom says it could now apply to courts to issue fines and demand internet service providers to block access to siteA suicide forum linked to multiple deaths in Britain has been ruled in breach of the Online Safety Act after it failed to properly block access to UK users when ordered to do so last year.Ofcom, the online regulator, said it could now apply to the courts to issue fines and demand internet service providers block access to the site in the UK. This will depend on how the site responds over the next 10 days. Continue reading......

CEO Jack Dorsey said 4,000 employees would be laid off as the fintech company, which owns Cash App, embraces AISign up for the Breaking News US email to get newsletter alerts in your inboxFintech company Block announced that it would be laying off 4,000 of its 10,000 employees because of gains in AI productivity.“Intelligence tools have changed what it means to build and run a company,” Jack Dorsey, Block's CEO, said in a letter to shareholders on Thursday. “We're already seeing it internally. A significantly smaller team, using the tools we're building, can do more and do it better. And intelligence tool capabilities are compounding faster every week.” Block is the parent company for online payment platforms such as Square and Cash App. Continue reading......

Report says chancellor to sign contract with Italy's Leonardo, saving 3,000 manufacturing jobs at Yeovil plantRachel Reeves is to approve a £1bn deal to build military helicopters in Yeovil, saving about 3,000 manufacturing jobs, according to reports.The chancellor is expected to sign a contract with Leonardo – the Italian owner of the former Westland factory in Yeovil, Somerset – to build the new battlefield helicopters, after months of speculation as to whether the historical site would survive. Continue reading......

Average life satisfaction still below pre-pandemic peak despite improving economic outlook, reports ONSThe proportion of people in the UK who feel dissatisfied with life has failed to improve since the pandemic despite the economic outlook improving, official figures show.The Office for National Statistics said its quarterly survey of personal wellbeing in the UK shows that average life satisfaction remains below its pre-pandemic peak, despite the rate of GDP per person rising over the same period. Continue reading......

EPA rolls back rules as chemical firms claim provisions in RMP protection system too expensive to implementThe Trump administration is slowly dismantling the federal disaster management system that protects the nation from chemical catastrophes, such as fires and explosions at high-risk facilities.The US Environmental Protection Agency's Response Management Program (RMP) requires over 12,500 high-risk facilities to develop protocols to prevent catastrophes, or limit fallout, and was largely designed to protect workers, first responders, and fence-line communities. Continue reading......

Union-backed pledge urges fast food employers to protect workers' rights as immigration raids fuel fear and walkoutsFast food workers in California are demanding employers sign a pledge reaffirming workers' rights amid Immigration and Customs Enforcement (ICE) raids at workplaces across the US.The California Fast Food Workers Union, an affiliate of the Service Employees International Union, drafted a Constitutional Pledge to California Workers' Rights for workplaces to sign that affirms a commitment to protecting workers and “keep ICE from going where they are not allowed”. Continue reading......

Head office job losses part of plan for more separation between supermarket and Argos businessesSainsbury's is cutting 300 head office jobs as it restructures its technology team and Argos delivery network, creating more separation between the two businesses.The London-based retail group said most of the job cuts would be in technology and data, where it was “consolidating routine reporting tasks” and creating dedicated teams for Argos and the supermarket. Continue reading......

EPA found only 27 of 219 plants needed upgrades; 71 later got exemptions as Donald Trump scrapped mercury limitsAlmost all coal-fired power plants in the US had the ability to comply with rules limiting their emission of dangerous pollutants such as mercury that can cause brain damage in children. Despite this, Donald Trump's administration decided to demolish the standards anyway.Last week, the Trump administration said it is loosening restrictions on air toxins from mercury, lead and other heavy metals that are released by coal plants. Such pollution is known to be neurotoxic and has been linked to irreversible brain damage in children and infants, as well as heart disease and cancer in adults. Continue reading......

IAG enjoys record operating profits on margins of more than 15% at British Airways and sister airline IberiaBritish Airways' owner, International Airlines Group (IAG), has announced a sharp rise in annual profits to almost £4bn despite carrying slightly fewer passengers in 2025.Pre-tax profits across the group increased by 20% to €4.5bn (£3.9bn), with record operating profits on margins of more than 15% at BA and its sister airline Iberia. Continue reading......

Local river defenders force U-turn by occupying grain terminal operated by one of US powerhouses of world trade“A victory for life.” That was the triumphal message from Indigenous campaigners in the Brazilian Amazon this week after they staved off a threat to the Tapajós River by occupying a grain terminal operated by Cargill, the biggest privately owned company in the United States.“The river won, the forest won, the memory of our ancestors won,” said the campaigners in Santarém when it was clear their actions had forced the Brazilian government into a U-turn on plans to privatise one of the world's most beautiful waterways and expand its role as a soy canal. Continue reading......

Despite claims, polls and economists say tariffs and structural pressures keep US households under strainThe affordability crisis is over, Donald Trump told the US on Tuesday. The president's state of the union address put the blame for soaring prices squarely on the “dirty, rotten” lies of the Democrats and claimed prices were now “plummeting downward”.“Soon you will see numbers that few people would think were possible to achieve just a short time ago,” Trump said. Continue reading......

Javier Milei's boosters say law will revive employment, but critics decry cuts to severance and longer working hoursArgentina's senate is poised to approve a sweeping overhaul of labour laws aimed at weakening trade unions and lowering labour costs for businesses.The government of the self-styled “anarcho-capitalist” president, Javier Milei, says the initiative will help revive formal employment, after 290,600 registered jobs were lost between December 2023, when he took office, and November 2025. Continue reading......

Purbeck Capital Partners seals deal for business and property rights of toy with model railway makerFor almost six decades Hornby has watched Scalextric drive revenues for its hobby business but on Friday the company said it had decided to sell the famous slot car racing brand for £20m to a little known buyer.The model railway company, which also sells toy planes and cars under the Airfix and Corgi brands, has sold the Scalextric business and intellectual property rights to Purbeck Capital Partners. Continue reading......

Households on a default dual-fuel tariff in Great Britain could cut costs by moving to a fixed dealExperts have told households whose energy bills are pegged to the price cap not to “rest on their laurels” as they could save more than £200 a year on a fixed deal.This week, Ofgem said the price cap in Great Britain would drop by 7% from April. This usually only matters if you are on a default tariff, but this time the reduction applies to everyone because the government is removing green charges from bills. Continue reading......

Rolling coverage of the latest economic and financial newsAnalysts suspect that regulators, such as California Attorney General Rob Bonta, could attempt to challenge Paramount's takeover of Warner Bros Discovery.Bonta, a Democrat, said late on Thursday that his office would take a 'vigorous' approach to the deal.“Paramount/Warner Bros is not a done deal. These two Hollywood titans have not cleared regulatory scrutiny — the California Department of Justice has an open investigation, and we intend to be vigorous in our review.”“We've always been disciplined, and at the price required to match Paramount Skydance's latest offer, the deal is no longer financially attractive, so we are declining to match the Paramount Skydance bid.” Continue reading......

Care roles hit particularly hard by UK's lurch to the right on migration, according to analysis of Home Office dataHospitals and care homes in the UK face “an impending car crash”, experts have warned, as research shows the number of overseas nurses and carers has collapsed.Analysis of Home Office quarterly data reveals the number of overseas nurses granted entry to the UK has fallen by 93% over three years. Just 1,777 overseas nurses were granted entry in 2025, compared with 26,100 in 2022. Continue reading......

RFU due to confirm shake-up of rugby's top divisionKnighthead Capital Management in early discussionsBirmingham City's owner, Knighthead Capital Management, is among a number of American investors exploring the purchase of potential new franchises in Prem Rugby before a radical shake-up of the sport due to be ratified by the Rugby Football Union on Friday.The RFU council will vote at Twickenham on proposals to ringfence the 10-team Prem with no promotion or relegation until 2030, when a staged expansion is planned, beginning with the addition of two more teams. Continue reading......

Deficit is the highest ever recorded by an English clubBlueCo partner Strasbourg also lost £69m in same periodChelsea made a financial loss of £355m in the 2024-25 season, according to new data released by Uefa, the biggest deficit ever recorded by an English football club.According to Uefa, Chelsea's losses were more than double the ­second-worst in Europe, the £171m posted by Lyon. The figures are also about £260m worse than those posted by the Blues in 2023-24. Continue reading......

European Anti-Fraud Office to look into the former US ambassador's time as trade commissioner in BrusselsPeter Mandelson is facing an inquiry by the EU's anti-fraud agency after the European Commission requested the body look into his activities during his time as trade commissioner in Brussels.The commission said it referred the peer, 72, to the European Anti-Fraud Office, known as Olaf, last week after the US Department of Justice released documents allegedly showing he shared sensitive government information with sex offender Jeffrey Epstein. Continue reading......