Top World News

Feb 16, 2026 - World

Rolling coverage of the latest economic and financial news, as UK households grow more worried about debtsUK consumer sentiment continued to sink this month, as households grow more worried about debt levels.A poll of consumer confidence from data firm S&P Global has found that morale continued to drop in February, although not as quickly as in January.Consumers signal stronger rise in debt alongside a quicker deterioration in loan availabilityAppetite for major spending recedes to weakest in ten monthsSentiment regarding labour market conditions at lowest since last June“The mood among UK households matches the dismal weather seen so far this year across the country. Although the overall degree of gloom has lifted slightly since January, consumer confidence continues to run at one of the lowest levels seen over the past two years.A period of prolonged rain and a dearth of sunshine have no doubt not helped to lift the low spirits seen among households, but there’s more going on here than just bad weather. Households are growing increasingly worried about debt in particular, especially as a rising need for credit was met with the steepest decline in availability of loans since August 2024. Continue reading...

Feb 16, 2026 - World

Move could mean fewer free exhibitions and paid-for shows and more expensive ticketsThe National Gallery is to make significant cuts in the face of an £8.2m deficit in the coming year, which could mean fewer free exhibitions and ticketed shows, less international borrowing of artworks and more expensive tickets.As a result of considerably increased running costs and stagnant income, the gallery has said it will be looking to cut spending in areas “such as public programmes, and activities where, for a number of reasons beyond our control, we can no longer justify their costs”. Continue reading...

Feb 16, 2026 - World

In March last year, I had written about why Pakistan cricket is in ruins - simply because it is its own worst enemy. Pakistan just proved that again yesterday.

Feb 16, 2026 - World

An economic plan from world leaders could reduce the impact of Donald Trump's tariff policy worldwide, insiders say. The president's economic plan, which he implemented during his second term, has caused disruptions domestically and internationally. World leaders are now seeking a way through the economic spiral, and Canadian PM Mark Carney is believed to be at the helm of this plan. Insiders, speaking to Politico, confirmed there are nearly 40 countries interested in the talks. A Canadian government official said, "The work is definitely coming along. We’ve had very fruitful discussions on it with other partners around the world."Both the European Union and members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, including Canada, Mexico, and Australia, are keen to stand against Trump's economic policies and their effects on the wider world. A Japanese trade official said, "We see a lot of value in increasing trade among the EU and CPTPP parties, which would also contribute to enhancing supply chain resilience."Another diplomat from an unnamed nation spoke positively of the possible alliance between the EU and CPTPP. They said, "If the EU is up for the conversation, then of course it would make things very interesting indeed."Klemens Kober, director of trade policy, EU customs and transatlantic relations at the German Chamber of Commerce and Industry, also confirmed relevant parties were looking into an agreement which, if signed, could hinder Trump and his administration's hold on world economics.All relevant actors are looking at it," Kober said. "If there can be a focus on having these rules as harmonized and simple as possible, as part of these negotiations, that could prove advantageous for German companies."Having the possibility of cumulating origin between different FTAs is very useful. We hope that if that’s a success, if you can see tangible benefits in different areas, that could also entice other countries to join in and team up in a positive sense. So the more the merrier."

Feb 16, 2026 - World

Island’s reservoirs hit record lows even before tourist season starts as Cypriots are warned ‘every drop counts’Europe live – latest updatesAuthorities in Cyprus have urged residents to reduce their water intake by 10% – the equivalent of two minutes’ use of running water each day – as Europe’s most south-easterly nation grapples with a once-in-a century drought.The appeal, announced alongside a €31m (£27m) package of emergency measures, comes as reservoirs hit record lows with little prospect of replenishment before the tourist season starts. Continue reading...