UK and South Korea sign new trade deal aimed at cars, salmon and Guinness

The UK government has launched a taskforce aimed at breaking down barriers for women in technology, responding to calls for action to address the gender gap in the tech sector. This initiative is part of a broader strategy to enhance the country's capabilities in artificial intelligence (AI) and ensure that women are represented in this critical field.

Nissan has commenced production of its new electric car, the third generation of the Leaf, at its Sunderland plant, following an investment exceeding £450 million, including £300 million directly into the UK. This marks a significant milestone in the UK's automotive industry as it shifts away from petrol and diesel vehicles.

The UK and South Korea have finalized a trade deal that is expected to enhance cooperation in key sectors such as pharmaceuticals, car manufacturing, and financial services. This agreement marks a significant step in strengthening economic ties between the two nations.

The United States has paused its £31 billion tech prosperity deal with Britain, citing insufficient progress on resolving trade barriers. This decision represents a significant setback in US-UK relations, particularly as the deal was initially celebrated as a transformative step in bilateral cooperation during Donald Trump's presidency.

Morrisons has announced a delay in its net zero carbon emission targets, pushing the goal back by 15 years to 2050. This makes it the first UK supermarket chain to take such a step, with the revised plan now encompassing the entire supply chain, including emissions from agriculture and land-use sources.

Rishi Sunak, during the Covid-19 pandemic inquiry, expressed concerns regarding the UK's financial stability in March 2020, particularly after the government implemented costly rescue measures to avert mass unemployment. He noted that the rising interest bill on government bonds was a source of acute stress, fearing that foreign investors might doubt the UK's ability to manage its finances compared to other nations in similar situations.

The Financial Conduct Authority (FCA) is considering a significant overhaul of mortgage rules to provide greater payment flexibility for individuals with variable incomes, such as freelancers and gig economy workers. This initiative aims to help these groups access home loans more easily, addressing the needs of underserved consumers in the UK housing market.

First-time buyers in the UK are now borrowing an average of £210,800 for their mortgages, marking a record high as of September 2025. This increase is attributed to rising wages and more lenient affordability tests, enabling buyers to access homes that were previously out of reach.