Starmer’s Costly U-Turn, Astra's UK Listing Risk, Trump Bill Rebellion Brews

Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Keir Starmer dramatically abandoned his flagship welfare reforms to avoid a historic defeat, leaving the UK prime minister’s authority badly damaged and his government facing a widening fiscal hole to fill.

(2) The Trump administration is halting the transfer of artillery rounds and air defenses to Ukraine, depriving the country of much-needed weapons as it endures stepped-up missile and drone attacks from Russia.

(3) President Donald Trump said Israel has agreed to the conditions needed for a 60-day ceasefire in Gaza, adding that the plan would now be presented to Hamas.

(4) AstraZeneca's Chief Executive Officer Pascal Soriot wants to move the drugmaker’s stock listing to the US, the Times reported, in what would be another sign of the UK’s waning status as a magnet for global capital.

(5) Bank of England Governor Andrew Bailey said high interest rates are having less of an impact on inflation because of Britain’s low levels of debt among both businesses and consumers.

(6) Banco Santander agreed to buy Banco Sabadell SA’s UK unit for £2.65 billion ($3.64 billion), a deal that will make it the UK’s third-largest lender by some measures.

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