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UK News News 4 January 2026 - 1 February 2026

National Grid share price: Ofgem opens Bramford-to-Twinstead review as rate week looms

National Grid share price: Ofgem opens Bramford-to-Twinstead review as rate week looms

National Grid shares closed up 0.37% at 1,234.5 pence, near a one-year high, after Ofgem launched a consultation on the Bramford to Twinstead transmission upgrade. The regulator is reviewing the project under its Accelerated Strategic Transmission Investment mechanism, with responses due by March 2. The stock is up about 8% year-to-date. London’s blue-chip index rose 0.5% Friday, while sterling fell 0.56% to $1.3742.
1 February 2026
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UK FCA launches sweeping AI review for retail finance, sets Feb 24 deadline

UK FCA launches sweeping AI review for retail finance, sets Feb 24 deadline

Britain’s Financial Conduct Authority launched the “Mills Review” to examine how advanced AI could reshape retail financial services, with responses due by Feb. 24 and recommendations expected by summer 2026. The FCA ruled out AI-specific rules for now, despite criticism from MPs over regulatory delays and concerns about risks such as AI-driven fraud and algorithmic bias.
28 January 2026
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Ovo’s £2.7m payout: Vulnerable customers waited 19 months for bill support

Ovo’s £2.7m payout: Vulnerable customers waited 19 months for bill support

London, Jan 23, 2026, 01:09 GMT Britain’s energy regulator has ordered Ovo to pay more than £2.7 million in compensation after thousands of vulnerable customers waited months for a government-backed electricity bill discount that should have arrived during the winter. (Ofgem) The ruling lands as households remain sensitive to energy costs and as regulators push suppliers to treat vulnerable customers as a priority, not an afterthought. Delays matter most in winter, when cold weather can turn a missed rebate into a health risk. Ovo was more than 19 months late in passing on the Warm Home Discount to 11,646 customers,
23 January 2026
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Palantir stock slips in premarket as investors weigh UK defence scrutiny ahead of Feb. 2 earnings

Palantir stock slips in premarket as investors weigh UK defence scrutiny ahead of Feb. 2 earnings

New York, Jan 20, 2026, 04:57 EST — Premarket Palantir Technologies Inc shares dipped in premarket trading Tuesday, kicking off 2026 on a cautious note for the data analytics firm. Investors grappled with fresh defense-related developments alongside the company’s ambitious growth forecasts. Palantir’s U.S.-listed shares last changed hands around $171, marking a drop of about 3.4% from the prior session’s finish, according to market data. (MarketWatch) This is a notable development given Palantir’s status as one of the most actively traded stocks in the “AI software” category—a label investors assign to companies providing tools for broad AI rollout. That makes
20 January 2026
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UK GDP Beats Forecasts: November Growth Hits 0.3% as Car Output Rebounds

UK GDP Beats Forecasts: November Growth Hits 0.3% as Car Output Rebounds

London, January 15, 2026, 09:46 GMT Britain’s economy expanded by 0.3% in November compared to October, official data revealed on Thursday, driven in part by a bounce back in car manufacturing. GDP, which tracks the total output of goods and services, had dipped 0.1% in October, while September’s figure was revised slightly higher to a 0.1% increase. Looking at the three months through November, GDP edged up 0.1%, with services climbing 0.2% and construction sliding 1.1%. November alone saw services rise 0.3%, production jump 1.1%, and construction drop 1.3%. (Office for National Statistics) The stronger-than-expected data caught attention amid ongoing
15 January 2026
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Ofwat warns on South East Water outage as Severn Trent, United Utilities shares fall

Ofwat warns on South East Water outage as Severn Trent, United Utilities shares fall

London, Jan 13, 2026, 19:47 GMT Shares in London-listed water utilities dropped Tuesday as regulators and politicians ramped up scrutiny on South East Water following a fresh outage that left around 25,000 homes in Kent and Sussex without steady water supply. Severn Trent slid 2.6%, United Utilities lost 1.9%, and Pennon closed down 1.7%. (https://www.investing.com/equities/severn-trent https://www.investing.com/equities/united-utilities https://www.investing.com/equities/pennon) Ofwat, the regulator for water services, said it was “concerned” and plans to review the evidence before deciding if South East Water has met its legal duties on customer care. The latest outages, attributed to Storm Goretti and burst pipes, left some households
13 January 2026
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UK water watchdog says Tunbridge Wells outage was “no surprise” as South East Water boss faces MPs

UK water watchdog says Tunbridge Wells outage was “no surprise” as South East Water boss faces MPs

LONDON, Jan 8, 2026, 00:03 GMT Britain’s drinking water watchdog told lawmakers this week that South East Water’s Pembury treatment works showed weeks of worsening performance before supplies to Tunbridge Wells failed, leaving the site “flying blind” without proper electronic monitoring, and that the incident “should not have been a surprise.” UK Parliament Committees The warning comes as MPs take evidence for an inquiry into reforming the water sector, after residents were told on Nov. 29 that tap water was unsafe for drinking and other uses and that advice remained in place until Dec. 12, parliament’s committees service said. UK
8 January 2026
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Phillips 66 buys UK Lindsey oil refinery assets — but says it won’t reopen the plant

Phillips 66 buys UK Lindsey oil refinery assets — but says it won’t reopen the plant

London, Jan 7, 2026, 08:31 (GMT) Phillips 66 Limited said it had agreed to acquire assets and associated infrastructure from Britain’s Lindsey Oil Refinery and integrate key facilities into its Humber Refinery in North Lincolnshire. The company said it will not restart Lindsey as a standalone refinery, and UK lead executive Paul Fursey called the deal “an important step” in investing in Britain’s energy security. Phillips 66 Investor Relations The move matters for the UK’s shrinking refining base because it keeps Lindsey offline as a crude-processing site and turns the transaction into a logistics and storage play around the Humber
7 January 2026
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Regulator says Tunbridge Wells water outage was preventable as South East Water boss faces MPs

Regulator says Tunbridge Wells water outage was preventable as South East Water boss faces MPs

London, Jan 6, 2026, 16:19 GMT Britain’s Drinking Water Inspectorate said a breakdown at South East Water’s Pembury treatment works in Kent that left 24,000 homes around Tunbridge Wells without safe drinking water for two weeks was spotted weeks earlier and could have been stopped. Chief inspector Marcus Rink told MPs the firm failed to run tests requested by the regulator and to install a filter to stop heavy metals after a key treatment chemical failed, and he said it was “flying blind”. Rink added: “It shouldn’t have been a surprise,” while chief executive David Hinton said the incident followed
6 January 2026
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UK Self Assessment deadline: 5.65 million still haven’t filed, HMRC warns

UK Self Assessment deadline: 5.65 million still haven’t filed, HMRC warns

London, Jan 6, 2026, 12:16 GMT Britain’s tax authority said 5.65 million people still need to file their Self Assessment tax return with less than a month to go before the Jan. 31 deadline. More than 6.36 million have already submitted a return, HM Revenue & Customs said on Monday. (https://www.gov.uk/government/news/565-million-still-to-file-as-the-self-assessment-deadline-looms) The filing date matters because it is also the deadline to pay any tax owed for the 2024/25 tax year. Anyone who misses it faces an automatic £100 late-filing penalty, even if they end up owing no tax, HMRC said. The push comes as HMRC prepares to widen its
6 January 2026
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UK rail disruption: Whitehaven replacement buses suspended as Blackburn points failure delays Northern trains

UK rail disruption: Whitehaven replacement buses suspended as Blackburn points failure delays Northern trains

Manchester, England, Jan 6, 2026, 08:09 GMT Rail replacement buses between Corkickle and Whitehaven were suspended on Tuesday because of severe weather, Northern said, leaving passengers without the usual road alternative on a Cumbrian Coast stretch closed for urgent repairs. The operator said it would review the suspension hourly, while trains would turn back at Corkickle or Whitehaven and some tickets would be accepted on TransPennine Express services within two hours of a cancelled departure. Northern The suspension adds to travel problems during a cold snap that has brought snow and ice warnings across the country. On a network that
6 January 2026
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Do We Need More Pylons? Countryfile reignites Britain’s grid upgrade fight as protests grow

Do We Need More Pylons? Countryfile reignites Britain’s grid upgrade fight as protests grow

LONDON, January 4, 2026, 14:45 ET BBC “Countryfile” presenter John Craven wrote on Friday that Britain faces “1000s” more electricity pylons as grid operators race to connect renewable power, stoking an increasingly public fight over new lines. The column said protests are growing around routes tied to the country’s push to expand electricity transmission. Countryfile The debate matters now because Britain is trying to move more electricity from offshore wind, solar and other low-carbon generation to homes and industry, while demand rises as heating and transport electrify. It also lands as government and grid operators look for quicker approvals for
4 January 2026
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Stock Market Today

Seagate (STX) stock jumps nearly 6% as Citi hikes target — what to watch next week

Seagate (STX) stock jumps nearly 6% as Citi hikes target — what to watch next week

7 February 2026
Seagate shares rose 5.9% to $429.32 Friday after Citigroup raised its price target to $480 and reiterated a buy rating. The gain ended a two-day slide but left the stock 6.6% below its Feb. 3 high. CEO Dave Mosley sold 20,000 shares on Feb. 2 under a pre-arranged plan, SEC filings show. U.S. jobs and inflation data next week are seen as key tests for tech stocks.
Cummins (CMI) stock price rebounds after earnings whipsaw as investors eye data-center power demand

Cummins (CMI) stock price rebounds after earnings whipsaw as investors eye data-center power demand

7 February 2026
Cummins shares jumped 6.8% to $577.73 Friday, recovering from a nearly 9% post-earnings drop the day before. The company reported Q4 revenue up 1% to $8.54 billion, took a $218 million charge tied to its hydrogen business, and guided for 2026 EBITDA of 17–18% of sales. Demand for data center generators offset weakness in North American truck markets. Analyst reaction was mixed; Truist raised its price target.
Corning stock hits first record close since 2000 as jobs, CPI data loom

Corning stock hits first record close since 2000 as jobs, CPI data loom

7 February 2026
Corning shares surged 8.3% to $122.16 Friday, their highest close since the dot-com era, after Meta agreed to buy up to $6 billion in fiber-optic cables. The stock is up 40% since late 2025, fueled by strong first-quarter guidance and AI data-center demand. Insiders sold shares following the rally, SEC filings show. Investors await next week’s U.S. jobs and inflation data for rate signals.
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