Stephen Colbert took aim at both President Donald Trump and his own network executives during a recent episode of The Late Show, using his opening monologue to deliver sharp political and corporate satire.
During the broadcast, Colbert mocked Trump’s proposal for a so-called “Board of Peace,” which would reportedly require countries to pay a $1 billion fee for permanent membership. Poking fun at the idea, Colbert said, “Trump’s next mission in Davos was debuting a new international club that he calls the Board of Peace, where nations can pay $1 billion for a permanent seat. No surprise that peace has a price.”
The comedian then turned his attention inward, referencing his own network’s recent legal settlement connected to Trump. Drawing laughter from the audience, Colbert quipped, “Now, admittedly, the idea of paying a billion dollars to obey Donald Trump seems a little steep; after all, CBS got to do it for just $16 million.”
Colbert’s remarks come as he approaches the final months of his tenure on The Late Show, which is set to end when CBS concludes the long-running franchise later this year. In recent episodes, the host has leaned more openly into political commentary and pointed jokes about media power and corporate decision-making.
The monologue highlighted Colbert’s continued willingness to challenge both political leadership and network authority, reinforcing late-night television’s role as a space for sharp satire and criticism.
Colbert has won eleven Primetime Emmy Awards, two Grammy Awards, and three Peabody Awards.
Colbert was named one of Time’s 100 Most Influential People in 2006 and 2012.
Wedding DJ Fat Tony has addressed claims surrounding an uncomfortable dance involving Victoria Beckham during the reception, offering his account of what unfolded on the night. Speaking about the incident, he dismissed exaggerated rumours, saying there was “no slut dropping, no PVC catsuit, no Spice Girls action,” but admitted the timing of the moment made it awkward.
According to Fat Tony, the situation began when performer Marc Anthony invited Brooklyn onto the stage during his set, leading many guests to believe the couple’s first dance was about to happen. Instead, Anthony reportedly asked for “the most beautiful woman in the room” to join Brooklyn, before calling up Victoria Beckham rather than the bride. The DJ said the unexpected move caused visible upset, explaining that Nicola Peltz was left in tears while Brooklyn appeared “devastated.”
Fat Tony also recalled Marc Anthony encouraging Brooklyn to dance closely with his mother, allegedly telling him to “put your hands on your mother’s hips,” which he described as part of a Latin-style dance. He said the moment felt uncomfortable for many in the room and quickly became a talking point among guests. “It was really awkward for everyone,” he said, adding that it dominated conversation at brunch the following day.
Addressing the broader fallout, the DJ acknowledged that while no inappropriate behaviour was intended, the emotional impact mattered most. “If he felt it was inappropriate and awkward, then it was inappropriate and awkward,” he said, referencing Brooklyn’s feelings about the moment.
The comments have resurfaced amid ongoing reports of tension between Brooklyn and his parents, with the wedding dance frequently cited as a flashpoint in the family rift. Neither Victoria nor David Beckham has publicly responded to the DJ’s remarks.
Opening day highlights include Louis Paxton’s dark comedy, ‘The Incomer,’ which is infused with Scottish folklore
PARK CITY, UTAH, US:
Academy Award-winning documentary director Daniel Roher was back at Sundance on Thursday for the film festival’s opening day, showcasing a sharp turn in his work.
Roher, whose “Navalny” scooped Best Documentary Oscar for its poignant telling of the life of late Russian opposition leader Alexei Navalny, shifted gears into fiction for “Tuner,” starring Dustin Hoffman and Leo Woodall.
Part odd-couple, part heartbreaking romance and part thriller, “Tuner” was the answer to the question: “Now what?” after Roher scooped Hollywood’s biggest prize in 2023, the director said.
“I was 29 and I was sitting there thinking to myself: ‘What… do I do now?” Roher told an audience in Park City, Utah.
“I actually fell into this little rut… I didn’t feel like making anything. I was really scared and overwhelmed by the magnitude of the moment and everything.” A chance encounter with a piano tuner — the husband of his wife’s friend — set him wondering what this previously unconsidered profession was all about.
“He was like, ‘it’s about atrophy and entropy and the forces of the universe’,” he said. “‘They want to pull these strings out of tune, and it’s my job to keep them in tune so people can play’.”
“And I was like: let me write this down.”
Hoffman — in stunning form as the eccentric owner of a piano tuning business who refuses to wear his hearing aids — plays mentor and father figure to Woodall’s Nikki, a talented former pianist who had to stop playing because his oversensitive hearing makes any kind of loud noise impossible.
Alone on a tuning job one evening in a wealthy house, Nikki meets a gang of thieves who discover his incredible hearing means he can crack safes.
What starts out as a side-earner quickly degenerates, and Nikki is thrust into dangerous situations that jeopardise his burgeoning relationship with a gifted composition student, played by Havana Rose Liu.
Roher said the process of making a feature film had been fascinating, not least because after years in documentary, he was suddenly working with actors.
“Everything they do is just bizarre, but interesting and fascinating,” he said. “I have tremendous respect for them, for their abilities, for the way that they operate. But I don’t understand it.”
Working with a veteran like Hoffman, whom he called a “legend” of the screen, however, helped put him at ease.
“He treated me like it was 1968, I was Mike Nichols, and we were shooting (Hoffman’s breakout film) ‘The Graduate’.
“He called me sir. He called me boss. And he just loved being there.”
Elsewhere at Sundance on Thursday, filmgoers got their first look at “Hanging By A Wire.”
Director Mohammed Ali Naqvi’s pacey documentary tells the real life story of the rescue of Pakistani schoolboys stranded hundreds of feet above a Himalayan valley in a rusting cable car when wires snap.
Told largely through footage filmed by the hundreds of terrified villagers who gathered below, the film showcases how the ubiquity of the cellphone and connections to social media affect the way that events unfold.
It is through grainy online footage that a local journalist first becomes aware of the drama. Her report, boosted by stunning drone footage provided by a local amateur, alerts the international media and galvanises a rescue response.
The military, police, a local zipline entrepreneur and a have-a-go hero are all involved in the pulse-racing rescue.
For Naqvi, the pacing and feel of the film needed to be as urgent and driving as if it were fiction.
“I love action thriller films from the ’80s and 90s, and those are some of the films that have inspired us to make this,” Naqvi told a Sundance audience.
Other highlights of the opening day included debut director Louis Paxton’s dark comedy “The Incomer,” which is infused with Scottish folklore.
Domhnall Gleeson (“Harry Potter”) plays the man from the council sent to evict oddball islanders, Isla and Sandy (Gayle Rankin and Grant O’Rourke).
Inevitably, he is sucked in to the weird island life, in a film that explores loneliness and fitting in.
Injured being shifted to District Headquarter Trauma Centre in Dera Ismail Khan after suicide blast targets wedding at peace committee leader near Qureshi Mor, DI Khan, Khyber Pakhtunkhwa , January 23, 2026. — Screengrab via video/Reporter
Three people lost their lives after a suicide blast ripped through a wedding at a peace committee leader’s residence in Dera Ismail Khan, police said on Friday night.
The law enforcers said seven others, including Aman Committee head Noor Alam Mehsud, were injured during the blast, which occurred at his residence near Qureshi Mor.
According to police, the explosion took place while the marriage event was underway, resulting in multiple people sustaining injuries. The injured were immediately shifted to the hospital for medical treatment. Five have been transported to the DHQ Trauma Centre.
Police officials said the nature of the blast is being determined. However, initial investigations suggest that the explosion appears to be a suicide attack. The miscreants also resorted to firing after bombing.
Meanwhile, Khyber Pakhtunkhwa Chief Minister Sohail Afridi has strongly condemned the suicide blast, and sought immediate report from the provincial police chief.
He also directed the authorities concerned to provide best medical facilities to injured.
Calling the incident “unfortunate”, the chief minister said that those responsible for the blast will be brought to justice.
Pakistan has experienced a rise in cross-border terrorist incidents since the Taliban regained control of Afghanistan in 2021. The provinces of KP and Balochistan, which border Afghanistan, have been particularly affected by these attacks.
ISPR Director General Lieutenant General Ahmed Sharif Chaudhry, in his presser on January 6, said that law enforcement agencies carried out 75,175 IBOs across the country in 2025.
Giving a breakdown, he said 14,658 IBOs were conducted in KP, 58,778 in Balochistan, while 1,739 operations took place in the rest of the country.
Lt Gen Chaudhry said that 5,397 terrorism incidents were reported nationwide during the last year. Of these, 3,811 incidents, he said, occurred in KP, 1,557 in Balochistan, and 29 incidents were reported in other parts of the country.
He said that 2,597 terrorists were killed during counterterror operations last year. While providing details of 10 major terror attacks across the country, he said that civilians and soft targets had been deliberately targeted, and Afghan militants were involved in all attacks.
Pakistan has time and again called on the Afghan Taliban regime in Kabul to prevent its soil from being used by terrorists against Pakistan, and the issue recently resulted in heightened tensions featuring cross-border attacks by the Afghan side, resulting in retaliation from Pakistani forces as well.
This is a developing story and is being updated with further details.
Afghan security forces and a British soldier with Nato-led Resolute Support Mission stand guard at the site of a suicide attack in Kabul, Afghanistan May 31, 2019. — Reuters
Trump says Nato forces stayed off front lines in Afghanistan.
UK minister says Nato answered US call after Sep 11 attacks.
Trump suggests Nato would not come to aid of US if asked.
Britain on Friday said Donald Trump was “wrong to diminish” the role of North Atlantic Treaty Organisation (Nato) troops in Afghanistan, as a claim by the US president that they did not fight on the front line sparked outrage.
In an interview with Fox News aired on Thursday, Trump appeared unaware that 457 British soldiers died during the conflict in the South Asian country following the September 11 attacks on the United States.
“They’ll say they sent some troops to Afghanistan,” Trump told the US outlet, referring to Nato allies.
“And they did, they stayed a little back, a little off the front lines,” he added.
Trump also repeated his suggestion that Nato would not come to the aid of the United States if asked to do so.
In fact, following the 9/11 attacks, the UK and a number of other allies joined the US from 2001 in Afghanistan after it invoked Nato’s collective security clause.
UK Prime Minister Keir Starmer slammed Trump’s claim as “insulting” and suggested the US leader should apologise.
“I consider President Trump’s remarks to be insulting and frankly appalling, and I’m not surprised they’ve caused such hurt to the loved ones of those who were killed or injured,” Starmer said, adding that had he misspoken in such a way “I would certainly apologise.”
As well as British forces, troops from other Nato ally countries, including Canada, France, Germany, Italy and Denmark and others also died.
“Their sacrifice and that of other Nato forces was made in the service of collective security and in response to an attack on our ally,” Starmer’s official spokesman said.
“We are incredibly proud of our armed forces and their service and sacrifice will never be forgotten,” he added.
‘Heroes’
Care Minister Stephen Kinnock earlier said he expected Starmer would bring the issue up with Trump.
“I think he will, I’m sure, be raising this issue with the president… He’s incredibly proud of our armed forces, and he will make that clear to the president,” he told LBC Radio.
“It just doesn’t really add up what he said, because the fact of the matter is the only time that Article 5 has been invoked was to go to the aid of the United States after 9/11,” he added in an interview with Sky News.
Defence Minister John Healey said Nato’s Article 5 has only been triggered once.
“The UK and Nato allies answered the US call. And more than 450 British personnel lost their lives in Afghanistan,” he said.
The troops who died were “heroes who gave their lives in service of our nation”, he added.
Lucy Aldridge, whose son William died aged 18 in Afghanistan, told The Mirror newspaper that Trump’s remarks were “extremely upsetting”.
Emily Thornberry, chair of parliament’s Foreign Affairs Committee, denounced them as “so much more than a mistake”.
“It’s an absolute insult. It’s an insult to 457 families who lost someone in Afghanistan. How dare he say we weren’t on the front line?” the Labour Party politician said on the BBC’s Question Time programme on Thursday evening.
According to official UK figures, 405 of the 457 British casualties who died in Afghanistan were killed in hostile military action.
Police officers stand outside New Scotland Yard, the headquarters of the Metropolitan Police, in London. — Reuters/File
A British man pleaded guilty to drugging and raping his ex-wife over a 13-year-period at a UK court on Friday.
Philip Young, 49, admitted 48 of the 56 charges including counts of rape, voyeurism and administering a substance with intent to stupify or overpower.
He pleaded guilty to the charges at Winchester Crown Court in southeast England, in front of his ex-wife Joanne Young, 48, who has waived her legal right to anonymity and was present at the hearing.
The offences allegedly took place between 2010 and 2023.
Philip Young, who is also reportedly a former Conservative councillor, denied charges of possession of indecent images of children and extreme images.
“We worked closely with Wiltshire police to build a thorough and compelling case that resulted in him pleading guilty to dozens of offences today,” said prosecutor James Foster.
Five other men aged between 31 and 61 also appeared at the criminal court on Friday, charged with various sexual offences against Joanne Young.
Four out of five of them have pleaded not guilty. The fifth man has not yet entered a plea.
Wiltshire Police detective superintendent Geoff Smith said in a statement in December that the case stemmed from a “complex and extensive investigation”.
After Friday’s plea, Smith called the hearing a “significant landmark” and paid tribute to Joanne Young’s “incredible bravery”.
“The victim in this case, Joanne, has taken the decision to waive her automatic legal right to anonymity,” he said.
The case bears echo of a totally separate, unrelated 2024 trial in France in which Gisele Pelicot waived her right to anonymity to raise awareness about sexual violence.
Hyderabad & Mumbai: Silver’s unprecedented surge continued Friday. In late trades on the New York Commodity Exchange (Comex) the price of the white metal crossed the psychologically important $100-per-ounce (Oz) mark for the first time in history. Gold, which has gained at a much slower pace than silver in recent months, neared the $5,000/Oz mark.In the domestic market in late trades on MCX, silver futures contracts for March delivery was trading at Rs 3.4 lakh/kg, a new life-high level while the high for gold futures for Feb delivery was at close to Rs 1.6 lakh/10 gm. Both were all-time high levels.In Mumbai’s spot market for bullion, silver traded at about Rs 3.3 lakh level while gold was at Rs 1.55 lakh.A combination of factors is acting as the tailwinds for the rally in the two precious metals. The tense geopolitical situation around the world, especially due to sudden and unexpected decisions by the US president Donald Trump is leading to economic uncertainties around the world. Such decisions are also prompting global investors to lose their faith in fiat currencies and move towards real assets, analysts said. Industrial demand for the white metal, mainly from fast-growing industries like EV, semiconductors and solar, is also adding to the supply-demand mismatch, they said.Avinash Gupta, vice-chairman, All India Gem & Jewellery Domestic Council, pointed to rising geopolitical risk fuelling the unprecedented rise in precious metals prices. “The geopolitical scenario is pretty bad with fears rising that Trump may attack Iran any time,” he said, adding that silver could even scale $150 dollar by year’s end as per his conservative estimates. According to Saumil Gandhi, senior analyst-commodities, HDFC Securities, “strong investment flow and strong physical demand,” combined with the weakness of the dollar, strong retail and HNI buying, and a “historic short squeeze” in silver are leading to the sharp rise in its price.“The US dollar index has fallen more than 1% this week, supporting bullion as investors rotated into real assets amid shifting US–Europe tensions linked to Greenland and concerns Europe could leverage its holdings of US assets. In silver, China’s tightening export controls and constrained availability have added to the squeeze,” Gandhi said.Global investors’ tumbling belief in the dollar as a universal currency is a serious issue in determining the price of silver, industry veterans said.“Several countries are either not interested in buying US treasuries and trying to offload them, resulting in the shifting to safe haven assets (like gold, silver etc),” said Surendra Mehta, national secretary, India Bullion & Jewellers Association. “Japan too is pulling out of US bonds as interest rates are increasing in Japan. The momentum is in favour of gold and silver.”
Cybercriminals are happy to target almost any industry where data can be stolen. In many cases, less prepared and less security-focused companies are simply easier targets.
A recent ransomware attack on a company tied to dozens of gas stations across Texas shows exactly how this plays out. The incident exposed highly sensitive personal data, including Social Security numbers and driver’s license details, belonging to hundreds of thousands of people.
The breach went undetected for days, giving attackers ample time to move through internal systems and steal sensitive data. If you’ve ever paid at the pump or shopped inside one of these convenience stores, this is the kind of incident that should make you stop and pay attention.
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What happened in the Gulshan ransomware attack
According to a disclosure filed with the Maine Attorney General’s Office, Gulshan Management Services, Inc. reported a cybersecurity incident that impacted more than 377,000 individuals. Gulshan is linked to Gulshan Enterprises, which operates around 150 Handi Plus and Handi Stop gas stations and convenience stores across Texas.
The company says it detected unauthorized access to its IT systems in late September. Investigators later determined that attackers had been inside the network for roughly ten days before anyone noticed. The intrusion began with a phishing attack, a reminder of how a single deceptive email can still open the door to massive breaches.
Ransomware attacks don’t just hit tech companies. Retailers like gas stations store sensitive customer and employee data that criminals actively target.(Kurt “CyberGuy” Knutsson)
During that window, the attackers accessed and stole personal data, then deployed ransomware that encrypted files across Gulshan’s systems. The compromised information includes names, contact details, Social Security numbers and driver’s license numbers. That combination is especially dangerous, since it can be used for identity theft, account takeovers and fraud that may surface months or even years later.
Why the lack of a ransomware claim still matters
So far, no known ransomware group has publicly taken credit for the attack. That might sound like good news, but it does not necessarily change the risk for affected individuals. In many ransomware cases, silence can mean one of two things. Either the attackers have not yet posted stolen data publicly, or the victim company may have resolved the incident privately.
Gulshan’s filing states that it restored its systems using known-safe backups. That detail often suggests a company chose to rebuild rather than negotiate with attackers. Even so, once data has been copied out of a network, there is no way to pull it back. Whether or not the stolen information ever appears online, the exposure alone puts affected people at long-term risk.
This incident also highlights a recurring pattern. Retail and service businesses handle huge volumes of personal data but often rely on legacy systems and frontline employees who are prime phishing targets. Gas stations may not feel like obvious hacking targets, but their payment systems, loyalty programs and HR databases make them valuable all the same.
We reached out to Gulshan Management Services for comment regarding the breach, but did not receive a response before our deadline.
A customer pumps gas at a gas station on Feb. 13, 2025, in Austin, Texas. (Brandon Bell/Getty Images)
10 steps you can take to protect yourself after a breach like this
If your information was exposed in this breach or any similar ransomware incident, there are concrete steps you can take to reduce the fallout.
1) Monitor your credit and identity closely
If the company offers free credit monitoring or identity protection, enroll in it. These services can alert you early if someone tries to open accounts or misuse your identity. If nothing is offered, consider signing up for a reputable identity theft protection service on your own.
Identity Theft companies can monitor personal information like your Social Security Number (SSN), phone number, and email address and alert you if it is being sold on the dark web or being used to open an account. They can also assist you in freezing your bank and credit card accounts to prevent further unauthorized use by criminals.
See my tips and best picks on how to protect yourself from identity theft at Cyberguy.com.
2) Consider a personal data removal service
The less of your information that’s floating around data broker sites, the harder it is for criminals to target you. Data removal services can help reduce your digital footprint over time.
While no service can guarantee the complete removal of your data from the internet, a data removal service is really a smart choice. They aren’t cheap, and neither is your privacy. These services do all the work for you by actively monitoring and systematically erasing your personal information from hundreds of websites. It’s what gives me peace of mind and has proven to be the most effective way to erase your personal data from the internet. By limiting the information available, you reduce the risk of scammers cross-referencing data from breaches with information they might find on the dark web, making it harder for them to target you.
Even when no ransomware group claims responsibility, stolen data can still fuel identity theft, fraud, and account takeovers long after a breach occurs.(Kurt “CyberGuy” Knutsson)
Check out my top picks for data removal services and get a free scan to find out if your personal information is already out on the web by visiting Cyberguy.com.
Get a free scan to find out if your personal information is already out on the web: Cyberguy.com.
3) Use a password manager
A password manager helps you create and store unique passwords for every account. If attackers try to reuse stolen data to break into your online accounts, strong, unique passwords can stop that attempt cold.
Next, see if your email has been exposed in past breaches. Our No. 1 password manager pick includes a built-in breach scanner that checks whether your email address or passwords have appeared in known leaks. If you discover a match, immediately change any reused passwords and secure those accounts with new, unique credentials.
Check out the best expert-reviewed password managers of 2026 at Cyberguy.com.
4) Turn on two-factor authentication (2FA) everywhere possible
2FA adds an extra barrier, even if someone has your personal details. Prioritize email, banking, cloud storage, and shopping accounts, since those are often targeted first.
5) Install and keep a strong antivirus software running
Strong antivirus software can help detect phishing attempts, malicious downloads, and suspicious activity before it turns into a full compromise. Keep real-time protection enabled and don’t ignore warnings.
The best way to safeguard yourself from malicious links that install malware, potentially accessing your private information, is to have strong antivirus software installed on all your devices. This protection can also alert you to phishing emails and ransomware scams, keeping your personal information and digital assets safe.
Get my picks for the best 2026 antivirus protection winners for your Windows, Mac, Android and iOS devices at Cyberguy.com.
6) Watch for phishing and follow-up scams
After breaches like this, scammers often send fake emails or texts pretending to be the affected company or a credit monitoring service. Slow down, verify messages independently, and never click links you weren’t expecting.
7) Review your credit reports regularly
Check your reports from all major credit bureaus for unfamiliar accounts or inquiries. You’re entitled to free reports, and catching issues early makes them much easier to fix.
8) Freeze your credit to stop new accounts from being opened
If criminals expose your Social Security number, place a credit freeze as soon as possible. A credit freeze blocks lenders from opening new accounts in your name, even when thieves have your personal details. The credit bureaus offer freezes for free, and you can temporarily lift one when you apply for credit yourself. This step stops identity theft before it starts, instead of alerting you after the damage is done. If you prefer not to freeze your credit, place a fraud alert instead. A fraud alert tells lenders to verify your identity before approving credit, which adds another layer of protection.
To learn more about how to do this, go to Cyberguy.comand search “How to freeze your credit.”
In the Gulshan attack, hackers spent days inside internal systems, stealing personal data before deploying ransomware that locked down files.(Silas Stein/picture alliance via Getty Images)
9) Protect yourself from tax refund fraud with an IRS Identity Protection PIN
When Social Security numbers are stolen, tax fraud often follows. Criminals can file fake tax returns in your name to steal refunds before you ever submit your paperwork. An IRS Identity Protection PIN (IP PIN) helps prevent this by ensuring only you can file a tax return using your SSN. It’s a simple but powerful safeguard that can block a common form of identity theft tied to data breaches.
10) Lock down existing bank and financial accounts
Don’t just watch for new fraud, proactively secure the accounts you already have. Enable alerts on bank and credit card accounts for large transactions, new payees, or changes to contact information. If your SSN or driver’s license number was exposed, consider calling your bank to ask about additional protections or account notes. Acting early can prevent small issues from becoming major financial problems.
Kurt’s key takeaway
Your personal data doesn’t just live with banks and hospitals. Retailers, gas stations, and convenience store operators also hold information that can cause real harm if it falls into the wrong hands. When attackers get in through something as simple as a phishing email and stay undetected for days, the damage can spread fast. You can’t prevent these breaches yourself, but you can limit how much power stolen data gives criminals by locking down your accounts and staying alert.
Do you think everyday businesses like gas stations take cybersecurity seriously enough? Let us know by writing to us at Cyberguy.com.
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Kurt “CyberGuy” Knutsson is an award-winning tech journalist who has a deep love of technology, gear and gadgets that make life better with his contributions for Fox News & FOX Business beginning mornings on “FOX & Friends.” Got a tech question? Get Kurt’s free CyberGuy Newsletter, share your voice, a story idea or comment at CyberGuy.com.
The FTSE 100 ended a volatile week in subdued fashion on Friday, closing slightly lower, despite a batch of encouraging economic data as retail sales, consumer confidence and business activity all picked up.
The FTSE 100 index closed down 6.61 points, 0.1%, at 10,143.44.
The FTSE 250 ended 53.40 points lower, 0.2%, at 23,317.53, and the AIM All-Share closed up 5.08 points, 0.6%, at 822.75.
For the week, the FTSE 100 fell 0.9%, the FTSE 250 was flat, and the AIM-All Share rose 2.5%.
In London, economic data was in focus after UK retail sales unexpectedly rose in December.
The Office for National Statistics said retail sales volumes rose 0.4% in December, following a fall of 0.1% in November, beating an FXStreet-cited forecast for a 0.1% decline.
The 0.1% fall in November was unrevised, while the ONS revised up October’s reading to a 0.8% fall from a 0.9% decline previously.
In addition, UK consumer confidence improved slightly in January, supported by stronger expectations for personal finances over the next 12 months, survey results showed on Friday.
The overall score for the GfK consumer confidence index rose to minus 16 points in January from minus 17 in December, matching the consensus forecast cited by FXStreet.
Completing the trio of better news, growth in UK’s service and manufacturing sectors accelerated in January, flash data published by S&P Global showed.
The UK purchasing managers’ composite output index rose to a 21-month high of 53.9 points in January from 51.4 points in December, easily beating the FXStreet-cited consensus of 51.7.
The composite data is calculated using a weighted average of the services and manufacturing readings.
The flash services business PMI improved to 54.3 points in January from 51.4 points in December, outperforming the consensus of 51.7.
The flash manufacturing PMI climbed to 51.6 points in January, a 17-month-high, from 50.6 points in December.
“With the turn of the year, we are seeing encouraging signs from the UK economy,” said Deutsche Bank chief economist Sanjay Raja.
“Revisions have made the UK outlook a little brighter,” retail spending is “picking up,” survey data have come in “stronger” to start 2026 and there are some “tepid” signs of stabilisation in the labour market, he added.
JPMorgan analyst Allen Monks noted the surge in January’s PMI might typically be associated with annualised GDP growth of 1.9%.
But he added a caveat. “The main issue is that the level has yet to be sustained for longer than one month, which must be factored in when interpreting the UK survey,” he said.
“There was a similar surge in the UK survey back in August, which reversed sharply. As such it’s hard to have much faith in the UK survey until it sustains a shift higher,” Mr Monks added.
But while taking due caution on the PMI data, he said retail sales and consumer confidence figures, are “supportive of the growth outlook”.
The firm data was also supportive of sterling.
The pound was quoted higher at 1.3567 dollars at the time of the London equities close on Thursday, compared to 1.3437 dollars on Wednesday.
The pound was further boosted by comments by Monetary Policy Committee member Megan Greene who argued that looser monetary policy in the US could push up inflation.
“This would, in my view, give even greater cause for concern about a risk of UK inflation persistence over that of weaker demand, warranting a slower withdrawal of monetary policy restriction in the UK,” she said.
The US federal reserve meets next week but is expected to leave interest rates on hold after three consecutive quarter point cuts.
Countering Ms Greene’s fears, analysts at Wells Fargo expects two 25 basis points rate cuts at the March and June Fed meetings, but said “the risks to our forecast look increasingly skewed toward later and possibly less easing this year”.
“In fact, given our view on how growth will evolve this year, there is a sound argument that the longer they wait to cut, the higher the hurdle becomes to justify on economic grounds the need to ease further.”
The euro stood at 1.1758 dollars, higher against 1.1707 dollars.
Against the yen, the dollar was trading at 157.99 yen, lower from 158.18 yen.
In European equities on Friday, the CAC 40 in Paris closed down 0.1%, while the DAX 40 in Frankfurt ended 0.2% higher.
In New York, financial markets were mixed at the time of the London equity market close.
The Dow Jones Industrial Average was down 0.5%, the S&P 500 was 0.2% higher, while the Nasdaq Composite climbed 0.6%.
The yield on the US 10-year treasury was quoted at 4.25%, trimmed from 4.27% on Thursday. The yield on the US 30-year treasury was quoted at 4.84%, narrowed from 4.87%.
On the FTSE 100, gold miners Fresnillo, up 2.1%, and Endeavour Mining, up 2.2%, were once again in vogue as the gold and silver prices closed to push higher.
The yellow metal was quoted at 4,984.07 dollars an ounce on Friday, after hitting another record high and approaching 5,000 dollars an ounce, up from 4,874.8 dollars on Thursday.
Meanwhile, the price of silver rose 4.8% heading above 100 dollars an ounce late on Friday.
“Concerns over US public finances, political pressure on the Fed, and lingering global risks keep gold well bid on dips. Despite short-term overbought signals, the metal is on track for a strong weekly gain, and price action suggests pullbacks are being treated as opportunities rather than trend breaks. This is a high-risk trading environment,” said David Morrison, senior market analyst at Trade Nation.
On silver, Mr Morrison said the metal continues to outperform in the “most extraordinary fashion”.
“This really looks like a market in the midst of a blow-off top, with talk of supply shortages and a massive short squeeze bringing in fresh buying momentum.
“There’s an awful lot of (fear of missing out) out there, and that has the potential to push prices up even further. But of course, the longer this rally extends, the greater the risk of being caught out on a weak limb. Silver looks toppy up here.”
Oil majors BP and Shell were in demand, up 1.6%, and 0.5% respectively, as the oil price rose, after the Financial Times reported that the US threatened to curb the supply of cash for Iraq oil sales.
Brent oil traded higher at 65.76 dollars a barrel on Friday, up from 64.26 dollars late on Thursday.
Insurer Aviva fell 5.2%, while sector peer Admiral extended its losing run, shedding 5.8% on Friday taking its loss for the week to 13%.
Admiral was downgraded by Goldman Sachs and RBC Capital Markets earlier this week.
Elsewhere, C&C shares tumbled 9.3% as it reported weak trading in the period leading up to Christmas because of tepid consumer confidence amid UK budget nerves.
Mecca Bingo owner Rank was knocked down 4.7% while William Hill owner Evoke slid 2.5% as Deutsche Bank moved both to “hold” from “buy” after taking account for tax changes to the betting industry in November’s budget.
The biggest risers on the FTSE 100 were Beazley, up 36.0 pence at 1,152.0p, Glencore, up 10.85p at 501.0p, Endeavour Mining, up 92.0p at 4,366.0p, BAE Systems, up 42.0p at 2,027.0p and Fresnillo, up 84.0p at 4,168.0p.
The biggest fallers on the FTSE 100 were Burberry Group, down 79.0p at 1,195.5p, Admiral Group, down 162.0p at 2,650.0p, Aviva, down 33.8p at 619.4p, easyJet, down 14.80p at 481.9p and IAG, down 12.0p at 418.3p.
Monday’s global economic calendar has the Ifo business climate report in Germany and US durable goods orders data. Later in the week, interest rate decisions are due in the US and Canada.
Next week’s UK corporate calendar has full year results from lender Lloyds Banking Group plus trading statements from accountancy software provider Sage and miner Antofagasta.
It’s a chore we all have to do regularly but in 1975 Nationwide went grocery shopping with a couple who bought all their supplies yearly rather than weekly. By borrowing a van and enlisting the help of supermarket staff to push their multiple bulging trollies outside to the carpark, the pair reckoned their £122 annual shop would make savings if any of the products were to go up with inflation.
Clip taken from Nationwide, originally broadcast on BBC One, 5 February 1975.
