The European Commission approved Paramount-Skydance's roughly $110bn takeover of Warner Bros after the buyer agreed to sell its stake in a European film-distribution joint venture with Universal and to refrain from any film-distribution agreements with Universal in Europe for 10 years. The Commission said the commitments address its competition concerns and ensure the combined group's films will not be co-distributed with Universal or Disney.

The Daily Telegraph reports British government sources say UK-Israel diplomatic relations have been effectively "frozen" for about two years, with minister-level contacts largely halted. Sources trace the deterioration to former prime minister Starmer's criticism of IDF operations in Gaza, sanctions on an Israeli minister over West Bank issues, and the UK's formal recognition of a Palestinian state last year. Officials warn relations could worsen under new Prime Minister Burnham: he has criticised his predecessor for not calling earlier for a Gaza ceasefire and signalled support for additional sanctions on West Bank settlements. Burnham this week named Wes Streeting defence secretary and Miliband foreign secretary; Streeting has privately accused Israel of "committing war crimes before our eyes" and of using "the language of ethnic cleansing," while Miliband has long backed the Palestinian cause and criticised Israeli policy. Senior UK ministers have not made an official visit to Israel in nearly two years; a July 2024 visit by then-foreign minister Rami met Netanyahu and pressed for an immediate ceasefire and hostage releases. Cooper, who became foreign minister last September, never visited Israel and announced UK recognition of a Palestinian state at the UNGA. In June last year the UK froze assets and imposed travel bans on finance minister Bezalel Smotrich and national security minister Itamar Ben-Gvir. An Israeli government source told reporters Israel fully expects further UK sanctions and that relations are likely to deteriorate further before improving.

WBG chief economist Gill said debt vulnerabilities have built up for years; some countries may need debt relief.