UK bank bosses plan to set up Visa and Mastercard alternative amid Trump fears

UK bank bosses will hold their first meeting to establish a national alternative to Visa and Mastercard, amid growing fears over Donald Trump’s ability to turn off US-owned payment systems.The meeting, chaired by Barclays’ UK chief executive, Vim Maru, will take place this Thursday and bring together a group of City funders that will front the costs of a new payments company to keep the UK economy running if problems were to occur.The City-funded, but government-backed, initiative has been under discussion for years. However, Trump’s recent threats against Nato allies over Greenland have amplified concerns that an over-reliance on US companies could put UK payments – and the wider economy – at risk.About 95% of UK card transactions are made using payment systems owned by Mastercard and Visa, according to a 2025 report by the UK’s Payment Systems Regulator

UK consumer sentiment takes a tumble; bad weather threaten fruit supplies but boosts Morocco’s wheat crop – as it happened

UK 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.The report shows: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 JuneThis left the S&P Global UK Consumer Sentiment Index (CSI) at 44.8 in February, up from 44.6 in January, but still below the 50-point mark that shows no change compared with the prior month

Starmer to extend online safety rules to AI chatbots after Grok scandal

Makers of AI chatbots that put children at risk will face massive fines or even see their services blocked in the UK under law changes to be announced by Keir Starmer on Monday.Emboldened by Elon Musk’s X stopping its Grok AI tool from creating sexualised images of real people in the UK after public outrage last month, ministers are planning a “crackdown on vile illegal content created by AI”.With more and more children using chatbots for everything from help with their homework to mental health support, the government said it would “move fast to shut a legal loophole and force all AI chatbot providers to abide by illegal content duties in the Online Safety Act or face the consequences of breaking the law”.Starmer is also planning to accelerate new restrictions on social media use by children if they are agreed by MPs after a public consultation into a possible under-16 ban. It means that any changes to children’s use of social media, which may include other measures such as restricting infinite scrolling, could happen as soon as this summer

California’s billionaires pour cash into elections as big tech seeks new allies

Tech billionaires are leveraging tens of millions of dollars to influence California politics in a marked uptick from their previous participation in affairs at the state capitol. Behemoths such as Google and Meta are getting involved in campaigns for November’s elections, as are venture capitalists, cryptocurrency entrepreneurs and Palantir’s co-founders. The industry’s goals run the gamut – from fighting a billionaire tax to supporting a techie gubernatorial candidate to firing up new, influential super political action committees (Pacs).The phenomenon squarely fits the moment for the state’s politics – with 2026 being the year that Politico has dubbed “the big tech flex”.Gavin Newsom, California’s tech-friendly governor who has been quick to veto legislation that cramps the sector’s unfettered growth, is reaching his term limit

Muir fourth again after agonising tumble as Oldham wins big air gold for Canada

This time, Kirsty Muir must surely have believed that a Winter Olympic medal was in her grasp. But as a thrilling big air competition reached its denouement, an Italian with no anterior cruciate ligament in her right knee came down a 180‑feet ramp and drove a stake through the Briton’s heart.It all looked so promising when the 21-year-old from Aberdeen landed a stunning left double 1620, with four and a half rotations, to move into the medal positions after two of the three rounds. However, with just four jumps of the competition remaining, Flora Tabanelli, who tore her ACL in November, did the same trick as Muir but only better to score 94.25 points to steal the bronze medal

USA’s Elana Meyers Taylor storms monobob to win first Olympic gold at age 41

It took her five Olympics, but she finally got there: USA’s Elana Meyers Taylor won gold in the monobob on Monday, capping a long and brilliant career.The 41-year-old competed in her first Olympics at Vancouver 2010, and since then she has won three silver medals and two bronze across two events, the monobob and the two-woman bobsleigh. Her victory at the Milano Cortina Games came down to the final run of the competition with Laura Nolte competing to best Meyers Taylor’s time of 3min 57.93 sec. But the German could not respond and Meyers Taylor became America’s oldest-ever female Winter Olympic champion