Government seeking ‘best deal possible’ for UK firms over US tariffs – minister

High-level talks are ongoing after Donald Trump’s announcement of 15% global tariffs and the government wants ‘the best possible deal’ for UK firms, a Cabinet minister has said.

Education secretary Bridget Phillipson admitted businesses face ‘uncertainty’ after the move but insisted Britain expects its ‘preferential’ trade arrangements with the US to continue.

The US president said on Saturday he would be imposing a 15% global tariff ‘effective immediately’ after the Supreme Court overturned his previous import taxes policy in a ruling on Friday.

UK business growth gains momentum as factory export orders hit post-Covid high

Growth in the UK’s private sector has gained further momentum this month, as manufacturers were boosted by the biggest surge in export orders since 2021, a new survey shows.

But job losses continued for the 17th month in a row, led by a sharp reduction among firms in the services sector.

The S&P Global flash UK composite purchasing managers’ index (PMI), which is watched closely by economists, recorded a reading of 53.9 for February, up from 53.7 in January. February’s figure signals the fastest rise in private sector activity since April 2024.

MG achieves 1 million European landmark

MG Motor has confirmed that it has delivered its one millionth customer car in Europe.

Since returning to its UK home market in 2011 with the MG6, the brand has built a network of over 1,300 dealers across Europe and are represented in 34 markets.

Of those one million sales, 317,000 are EVs.

The markets

Stock prices in London closed higher on Friday, as a swathe of domestic economic data was well-received and the US Supreme Court ruled President Donald Trump’s tariff programme is illegal.

The FTSE 100 index closed up 59.85 points, 0.6%, at 10,686.89. The FTSE 250 ended up 178.07 points, 0.8%, at 23,751.56, and the AIM all-share closed up 3.97 points, 0.5%, at 815.11.

The pound climbed to 1.3492 dollars on Friday afternoon from 1.3455 dollars at the equities close on Thursday. The euro stood slightly higher at 1.1780 dollars from 1.1768 dollars. Against the yen, the dollar was trading marginally higher at 154.95 yen compared to 154.90 yen.

Government will ‘look at’ Plan 2 student loans

The education secretary has said she will ‘look at’ Plan 2 student loans amid widespread concerns over repayment costs, but refused to commit to changing the system.

Bridget Phillipson insisted she wanted ‘fairer’ arrangements for graduates but warned that the government was dealing with ‘a question of priorities’ when asked whether the burden would be eased.

Following chancellor Rachel Reeves’ November budget, the salary threshold at which repayments kick in under the Plan 2 system will be frozen at £29,385 for three years, leading to many having to pay more.

Police searches expected to continue at Royal Lodge after Andrew’s arrest

Police searches are expected to continue into Monday at the former home of Andrew Mountbatten-Windsor following his arrest.

Andrew was arrested on Thursday on suspicion of misconduct in public office, spending 11 hours in custody on his 66th birthday, after allegations he shared sensitive information with Jeffrey Epstein during his time as the UK’s trade envoy.

Detectives continued to search Andrew’s former home, Royal Lodge, in Windsor, Berkshire, over the weekend in an investigation led by Thames Valley Police. Andrew has denied any wrongdoing over his links to convicted sex offender Epstein, but has not directly responded to the latest allegations.

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Weather

Heavy, scattered showers continue across northern and western areas this morning, while the south and east stay drier with some bright spells, reports BBC Weather. Cloud thickens later, bringing evening rain.

Tonight, rain spreads into Scotland before clearing northwards, leaving most areas cloudy, mild and damp with light rain or drizzle.

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