Thirteen Labour MPs vote for talks on joining EU customs union

A recent survey by Ofcom revealed that UK residents are spending an average of four hours and 30 minutes online daily in 2025, which is half an hour longer than during the pandemic. This increase highlights a shift in digital consumption patterns as people continue to adapt to a more online-centric lifestyle.

On Tuesday, the stock market closed lower, with the Dow and S&P 500 both experiencing declines, while the Nasdaq Composite managed a slight increase of 0.1%. The S&P 500 ended the day down 0.09%, reflecting a reversal from earlier gains as concerns about economic conditions persisted. This downturn follows a mixed performance in recent trading sessions, where optimism had been buoyed by strong earnings from tech companies like Nvidia.

The Institute for Public Policy Research has indicated that the UK may soon see a reduction in the premium it pays to borrow compared to other major countries, as confidence in the government's fiscal strategy grows following Chancellor Rachel Reeves's autumn budget announcement. This budget aims to increase the UK's financial headroom significantly by 2030.

UK gilt yields have seen a slight decrease compared to other major economies, indicating a potential shift in the bond markets as Chancellor Rachel Reeves navigates fiscal challenges. Despite this drop, the UK still faces a significant premium on borrowing costs, with 10-year government gilt yields rising compared to US Treasury bonds and eurozone counterparts since the last general election.

Ofgem has approved early investment in three major electricity 'superhighways' in the UK, aimed at alleviating grid bottlenecks that prevent efficient electricity distribution during high generation periods, particularly from wind farms. This initiative is expected to reduce costs for consumers by minimizing the need to turn off wind farms when demand is low.

Meta has announced a policy change allowing users in the EU to opt out of personalized ads on Facebook and Instagram, a move aimed at complying with new digital regulations set by Brussels following a significant fine imposed on the company. This decision reflects Meta's efforts to align with evolving regulatory standards in the European market.

A report by Covid counter-fraud commissioner Tom Hayhoe revealed that fraud and errors related to government support schemes during the pandemic have cost UK taxpayers £10.9 billion, with most losses from bounceback loans, furlough pay, and the eat out to help out initiative remaining unrecovered.

UK grocery inflation has remained steady at 4.7%, according to Worldpanel, continuing to exert financial pressure on households. This stability follows a period of fluctuating food prices, which have recently seen increases despite a broader decline in general inflation rates.