Good morning. US officials are said to be preparing for a possible strike on Iran. The Federal Reserve signals higher prices are coming. And UBS says the world added more than 684,000 new millionaires last year. Listen to the day’s top stories.
Foreign ministers of Germany, France and Britain are set to hold nuclear talks with their counterparts from Tehran in Geneva tomorrow. Meanwhile, Trump’s hints at military action have sparked a revolt among his loyal MAGA base.
The Bank of England will probably hold its key rate at 4.25% and signal it’s sticking with a one-cut-every-other-meeting approach as officials try to balance elevated inflation, higher oil prices and a slowing economy.
The launch event of BYD’s Dolphin Surf. Photographer: Cyril Marcilhacy/Bloomberg
As a synchronized flock of drones lit up the sky above Rome’s Olympic Stadium last month, Chinese carmaker BYD delivered a message: It has arrived with an electric vehicle for the masses.
The Dolphin Surf aims to be a Fiat 500 or VW Beetle for the electric age—fun, accessible and built to put millions of drivers behind the wheel.
But it’s a high-stakes bet in a region thick with red tape and rules that favor entrenched brands like Volkswagen, Fiat and Renault.
To halt the ever-increasing cost of supporting the NHS, Rachel Reeves must fix elderly care, Rosa Prince writes. The UK needs a comprehensive service that provides help at home, in communities and in residential facilities.
The world added more than 684,000 new millionaires last year, UBS said in its Global Wealth Report. For average wealth per adult, Switzerland retained the top spot at $687,166, followed by the US.
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