6:50 am, February 25, 2026
Facebook owner Meta agrees £74bn deal with chipmaker AMD
Facebook owner Meta has struck a deal worth up to 100 billion dollars (£74 billion) to buy AI chips from AMD (Advanced Micro Devices) and take a stake in the firm.
The deal will see Meta, which also owns Instagram and WhatsApp, snap up a 10% shareholding in the US semiconductor company.
It is the latest in a series of major chip supply deals highlighting the significant sums being poured into the sector as technology firms compete.
March interest rate cut is ‘genuinely open question’, says Andrew Bailey
The prospect of an interest rate cut next month is a ‘genuinely open question’, the governor of the Bank of England has said.
Andrew Bailey told MPs on Tuesday he will need to be confident he has seen ‘enough further evidence’ before backing a further cut.
The central bank’s nine-strong Monetary Policy Committee (MPC) will vote on whether to maintain UK interest rates at 3.75% on March 19 or potentially reduce them.
New Genesis GV60 Magma to hit the road with 641bhp and dedicated Sprint mode
Genesis has confirmed details of its upcoming GV60 Magma.
The first of the brand’s high-performance Magma models, the GV60 brings a host of revisions and upgrades over the standard electric car.
With 641bhp and 790Nm of torque, the new GV60 Magma will dispatch the 0-60mph sprint in 3.4 seconds and will carry on to a top speed of 164mph.
Tuesday on Car Dealer
Honda recalls 46,000 UK Civics over fault that could cause wheels to fall off
Honda is recalling 46,152 UK tenth-generation Honda Civic models over optional alloy wheels that may not have been tightened correctly, risking detachment. Affected owners will be contacted in 2026; drivers can continue using their cars meantime.
New Chinese brand Lepas confirms first model for UK – and it’s an SUV!
New UK-bound brand Lepas, launched by Chery, will debut with the L8, a five-seat plug-in hybrid SUV. On sale Q3 2026, it targets rivals like the Toyota RAV4, with an expected 800-mile combined range.
Mazda celebrates dealers’ ‘focus, resilience and passion’ at annual All Stars awards
Mazda UK honoured top retailers at its seventh All Stars awards. Edwards Mazda Kempsey led sales, Romford Mazda topped aftersales, while Oakmere Mazda Northwich and Newport Mazda won major category prizes for overall performance and approved used cars.
The markets
The FTSE 100 held steady on Tuesday, closing pretty much as it started for the second day in a row despite concerns surrounding AI disruption and tariffs.
The FTSE 100 index closed down just 4.15 points at 10,680.59. While in European equities on Tuesday, the CAC 40 in Paris closed up 0.3%, while the DAX 40 in Frankfurt ended flat.
It comes after reports that EasyJet and Rightmove are on track to slip out of the FTSE 100 in the latest reshuffle of London’s top stock indexes.
Mandelson arrest sparked by ‘baseless’ claim he planned to leave UK, lawyers say
Lord Peter Mandelson’s arrest for misconduct in public office was prompted by ‘baseless’ claims he was planning to leave the country, his lawyers have said.
The former cabinet minister was arrested on Monday and later released on bail.
His law firm Mishcon de Reya said in a statement issued on Tuesday evening: ‘Peter Mandelson was arrested yesterday despite an agreement with the police that he would attend an interview next month on a voluntary basis. The arrest was prompted by a baseless suggestion that he was planning to leave the country and take up permanent residence abroad.’
Police end searches at Andrew Mountbatten-Windsor’s former home
Searches at Andrew Mountbatten-Windsor’s former home, Royal Lodge, have now ended, Thames Valley Police said.
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 his former home in Windsor, Berkshire, over the weekend and into Monday.
Weather outlook…
Much of the UK will today see low cloud and some light afternoon rain, with milder than average temperatures around 12 °C in many areas.
The south and east should stay mostly dry with brighter spells, while the Midlands and north may see some drizzle.
In Scotland and Northern Ireland, scattered showers and patchy cloud will persist.
