The UK government announced plans to cut green levies on thousands of businesses, aiming to reduce soaring energy costs and boost the manufacturing sector, particularly in Labour strongholds.
As part of a new 10-year industrial strategy, the UK government says more than 7,000 businesses will benefit from reduced energy bills through the removal of levies such as the renewables obligation, which currently funds earlier renewable electricity projects. This move is intended to ease the financial burden on companies, especially those in electricity-intensive industries such as steel, aluminium, ceramics, and glass.
In addition, the government will increase discounts on grid connection fees for energy-intensive firms from 60% to 90%, helping around 500 businesses gain faster and more affordable access to power. New measures will also speed up grid connections for major projects expected to create significant jobs, with reforms planned to be in place before year-end.
Prime Minister Keir Starmer described the plan as a “turning point” for the UK economy, emphasizing the need for long-term certainty to encourage investment, innovation, and job creation.
Chancellor Rachel Reeves highlighted that the strategy complements recent spending reviews focusing on infrastructure and technology, ensuring key industries can thrive without increasing costs for taxpayers or households.
The government stressed that these reforms would be funded through changes in the energy system, not by increasing household bills or public spending, aiming to secure a sustainable and competitive future for British businesses.
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Iran’s Foreign Minister Abbas Araghchi on Friday urged Afghanistan and Pakistan to resolve their differences through dialogue, offering Tehran’s assistance to facilitate understanding between its eastern neighbours.
Melania Trump, the First Lady of the United States, will chair a session of the United Nations Security Council on Monday in an historic first, becoming the first sitting first lady to preside over a council meeting during Washington’s monthly presidency of the body.
The death toll from heavy rains and flooding in Brazil’s Minas Gerais state has risen to 46, authorities said, with 21 people still reported missing. The storms triggered landslides and widespread flooding, displacing thousands across Juiz de Fora and Uba.
The situation in Cuba was heating up and called for restraint following a deadly incident involving a Florida-registered speedboat off the coast of the Caribbean island, the Kremlin said on Thursday (26 February).
Syria’s economy is showing clear signs of recovery, with economic activity accelerating in recent months, the International Monetary Fund (IMF) said on Wednesday.
The United States has deployed the aircraft carrier USS Gerald R. Ford near Israel as part of a growing military build-up amid tensions with Iran, while governments around the world urge their citizens to leave parts of the region.
Venezuela’s Attorney General Tarek William Saab and Ombudsman Alfredo Ruiz tendered their resignations to the National Assembly on Wednesday. Neither official has publicly provided reasons for stepping down.
Paramount Skydance emerged as the winner in a months-long battle to acquire Warner Bros Discovery after streaming giant Netflix on Thursday refused to raise its bid for the storied Hollywood studio.
Global debt surged to a record $348.3 trillion at the end of 2025, after nearly $29 trillion was added over the year, marking the fastest annual increase since the pandemic, according to the Institute of International Finance (IIF) report released on Wednesday.
Millions of Colombian roses have arrived in the United States just in time for Valentine’s Day, keeping the country on track as the world’s second-largest flower exporter. Between 15 January and 9 February, Colombia shipped roughly 65,000 tons of fresh-cut blooms.
Russia’s car market is continuing to receive tens of thousands of foreign-brand vehicles via China despite sanctions imposed after Moscow’s full-scale invasion of Ukraine in 2022, a journalistic investigation has found.
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