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Three High Court judges invested in controversial tax avoidance schemes that were challenged by HM Revenue & Customs, including one judge who has ruled on tax avoidance cases, raising questions about the UK’s lax approach to disclosure of judicial interests. The investments by Justices Joanna Smith, Simon Bryan and Martin Griffiths were first made about

Voters are heading to the polls in Turkey’s most consequential election in two decades as longtime leader Recep Tayyip Erdoğan seeks to fend off a united opposition led by Kemal Kılıçdaroğlu. Polls opened at 8am Ankara time on Sunday in presidential and parliamentary elections that offer two widely divergent paths for Turkey. Erdoğan, who first

The G7 and EU will ban Russian gas imports on routes where Moscow has cut supplies, according to officials involved in the negotiations, the first time pipeline gas trade has been blocked by western powers since the invasion of Ukraine. The decision, which is to be finalised by G7 leaders at a summit in Hiroshima

Russia’s defence ministry claimed a long-awaited Ukrainian counter-offensive had begun, pointing to intensifying attacks in eastern Ukraine over the past 48 hours. The ministry said on Friday that Ukraine had launched 26 assaults along a 60-mile stretch of the frontline near Bakhmut and the nearby town of Soledar, involving more than a thousand troops and

PwC is racing to contain the global fallout of an Australian leak scandal on its business after it emerged that the firm used confidential government tax plans to advise tech clients. Emails released by an Australian senate committee last week showed that PwC had used information received during its work with the government to win

Donald Trump urged Republican lawmakers to let the US default on its debts unless Democrats capitulate to demands for “massive” spending cuts, a significant intervention by the former president as Washington contends with a looming fiscal crisis. Trump made the comments on Wednesday in a hotly anticipated primetime televised town hall from New Hampshire, the

Donald Trump has been found liable for the sexual abuse of a journalist in a Manhattan department store in the 1990s, in a significant legal defeat for the former US president as he mounts a third bid for the White House. A nine-person jury deliberated for just a few hours before unanimously finding Trump liable

Britain’s privatised water and sewage companies paid £1.4bn in dividends in 2022, up from £540mn the previous year, despite rising household bills and a wave of public criticism over sewage outflows. The figures, based on a Financial Times analysis of the 10 largest water and sewage companies’ accounts, are higher than headline dividends in the year to

US Treasury secretary Janet Yellen has warned of a “constitutional crisis” that risks economic and financial catastrophe if Congress does not raise the federal debt limit, with the government in danger of running out of cash in the absence of new borrowing capacity. The White House and Republican lawmakers are in a stalemate over lifting

Crowds were gathering on London’s Mall on Saturday morning ahead of the coronation of King Charles III, heralding a day of ancient ceremony and military spectacle that will draw on a millennium of British history. Global leaders and foreign royalty will attend the event at Westminster Abbey — scene of royal coronations since William the

Conservative councillors on Friday warned that prime minister Rishi Sunak faces an uphill battle to regain the trust of voters, following a bruising set of local election results for the government.  In Sunak’s first electoral test as leader, results on Friday afternoon revealed the extent of his party’s losses, with the Tories losing around 649

The UK’s opposition Labour and Liberal Democrat parties expressed optimism early on Friday that they were making significant gains as votes began to be counted after local elections in many parts of England. Both parties argued that their performances positioned them well for the forthcoming nationwide general election. Labour’s shadow health secretary, Wes Streeting, told

The UK competition watchdog is launching a review of the artificial intelligence market, including the models behind popular chatbots such as ChatGPT, as the industry comes increasingly into global regulators’ crosshairs. Sarah Cardell, chief executive of the UK Competition and Markets Authority, said the watchdog would examine so-called foundation models — such as the software

The UK’s financial regulator is pursuing a deeper and faster overhaul of the stock market listing rules after a string of high-profile companies shunned the City in favour of New York, raising questions about London’s future. In a consultation document to be published on Wednesday, the Financial Conduct Authority will outline plans to scrap rules

Top investors attending the annual Milken conference have warned against complacency following the rescue of First Republic, arguing the third seizure of a bank by US regulators since March threatens to constrain credit and worsen an economic slowdown. The seizure of First Republic and the rapid sale of the remains of the bank to JPMorgan

At least three large banks have submitted bids to buy all or part of First Republic, the embattled California lender that US regulators have been racing to save this weekend. Among those that have put in offers are JPMorgan Chase, PNC and Citizens, according to three sources with knowledge of the situation. JPMorgan, which led

The US government has asked JPMorgan, PNC and several other financial groups to bid for all or part of First Republic, as US regulators try to determine how much it would cost taxpayers to take over the embattled California lender. Over the past 24 hours, it has become clear to both First Republic and the

Hedge funds betting against US technology stocks have been battered by $18bn of losses after Big Tech’s robust earnings fuelled a sharp rebound in the sector. Crispin Odey and James Hanbury are among the hedge fund managers burned by a 16 per cent rally in the Nasdaq Composite this year, as a number of stocks

The UK government is set to abandon its controversial plan to review or scrap all EU-era law by the end of 2023, in a move which has sparked fury among Tory Eurosceptics. Kemi Badenoch, business secretary, told Tory Brexiters this week that the majority of almost 4,000 pieces of retained EU law would remain on

Meta shares rose 10 per cent after it reported better than expected sales guidance and a small uptick in revenues after three quarters of decline as chief executive Mark Zuckerberg’s “year of efficiency” began to bear fruit. Revenue in the first three months of the year was up 3 per cent from a year ago