Gilts sell off after government ditches plan to increase income tax rates

Politics played a part in decision to abandon manifesto-busting plan, government officials say

Income tax U-turn adds to mood of despair among party’s backbenchers

Investigations come as US president’s own links to the late child sex offender roil his supporters

National security document outlines intelligence on tech support given to PLA ‘operations’

Coppermills plant, which serves up to 4mn people, underscores scale of the challenge for troubled utility

The long roar of speculation about the Budget has already damaged market confidence

Trump’s trade representative Jamieson Greer says tariffs will be reduced to 15%, ending months-long dispute with Bern

Head of US division will take over from February after current boss retires

US private equity group walks away due to regulatory uncertainty and negative commentary from newspaper

Treasury modelling suggests adding national insurance to tax bills of lawyers and accountants could cost more than it raises

Lawyers in class action case at London’s High Court are seeking up to £36bn in damages for 620,000 alleged victims

Risky to raise revenue via tweaks and novel taxes, especially through rushed changes

Dramatic U-turn ahead of Budget comes after improved fiscal forecast

The administration sees these digital assets as a tool in the fight against de-dollarisation

Doubts over December interest rate cut from Federal Reserve exacerbate jitters about high valuations

Larry Ellison’s software company falls more than rivals over its borrowing and reliance on OpenAI contracts

A disconnected class is taking shape, but is absent from the headline statistics

Small group of businesses avoided losses on car parts supplier’s collapse by refusing credit or cutting exposure

Litigation over the Mariana disaster in Brazil was overshadowed by tension between Pogust Goodhead and its backer

Asset manager is revamping flagship quant hedge fund to add stockpicking

Growing amount of unreported transactions presents challenge for bullion market traders

Extending the freezes beyond 2028 would raise £8.3bn in 2029-30, estimates Institute for Fiscal Studies

Washington agrees frameworks with Argentina, Ecuador, Guatemala and El Salvador on a range of products