Breaking AI & Tech News Analyzed

The World Trade Organization (WTO) has convened a critical meeting in Yaounde, Cameroon, against a backdrop of global economic turmoil and rising protectionism. The organization is facing the threat of a 'disorderly collapse' if it fails to strike a new deal on global trade rules.WTO Director-General Ngozi Okonjo-Iweala warned that the old 'world order' is not returning, following a year of turmoil marked by US President Donald Trump's aggressive trade policies, including sweeping tariffs.“We will not get it back … We must look to the future,” Okonjo-Iweala said, emphasizing the need for a new approach. The global trading system is experiencing the 'worst disruptions in the past 80 years'.The US Trade Representative, Jamieson Greer, defended Trump's policies, stating that they were a 'corrective response' to a trading system that had overseen 'severe and sustained imbalances'. Greer argued that the 'new world order' would involve agreements between smaller groups, rather than waiting for consensus on a 'lowest common denominator'.The US is critical of the WTO's 'most-favoured nation' (MFN) principle, which governs 72 percent of global trade. China, however, defended the system, warning that abandoning MFN would open a 'Pandora's box'.The European Union signaled its desire to rethink MFN, citing concerns about China. UK Trade Minister Chris Bryant warned of potential fragmentation if no deal is reached on reforms, stating that ministers must 'get this week right' to avoid a 'disorderly collapse of the WTO'.

UK car production experienced a significant decline in February 2026, with 17% fewer cars rolling off production lines compared to the same period in 2025. According to the Society of Motor Manufacturers and Traders (SMMT), this downturn is attributed to a sharp drop in exports, which fell by 12% overall.The industry is sounding the alarm, describing the situation as 'extremely worrying.' Mike Hawes, chief executive of the SMMT, emphasized that these figures pre-date the crisis in the Middle East, which is expected to further strain the sector. The ongoing conflict has led to soaring global energy prices, potentially denting consumer demand and exacerbating the decline.UK carmakers are facing challenges in key markets, including China, where demand has cratered due to the rise of domestically made competitors. Additionally, US tariffs imposed by Donald Trump have put pressure on UK manufacturers. Exports to the EU did see a 5% increase, but this was offset by a 34% decline in exports to the US and a 66% plunge in exports to China.The production of battery-electric, plug-in hybrid, and hybrid cars also experienced a decline, falling by 3% to 26,629 units. Despite this, these vehicles accounted for 40% of total output.The industry's current challenges stand in stark contrast to the UK government's ambitions, as outlined by Labour, to have 1.3 million vehicles manufactured annually by 2035. This target is nearly double the 764,715 cars and vans produced in 2025.The SMMT has warned that if the UK is not fully included in the EU's proposed 'Made in Europe' manufacturing rules, European sales could take a hit. The Japanese carmaker Nissan has threatened to close its Sunderland plant if these rules are introduced, citing potential damage to the £70 billion-a-year cross-channel trade.

The UK's Competition and Markets Authority (CMA) has initiated investigations into five companies, including Autotrader and Just Eat, due to concerns about their handling of online reviews. The CMA is examining whether these companies have failed to adequately address fake and misleading reviews on their platforms. The investigations focus on several key issues: Autotrader and Feefo are being looked into for potentially excluding one-star reviews from being published; Dignity is under scrutiny for allegedly asking staff to write positive reviews; Just Eat is being investigated for possibly inflating star ratings; and Pasta Evangelists is accused of offering discounts in exchange for five-star reviews. CMA Chief Executive Sarah Cardell emphasized the importance of genuine reviews, stating, 'Fake reviews strike at the heart of consumer trust – with many of us worrying about misleading content when looking at reviews online.' The CMA has not yet reached any conclusions but aims to ensure that companies comply with UK consumer law. The investigations bring the total number of businesses under review to 14. If the CMA finds that a company has broken the law, it can enforce changes and impose fines of up to 10% of global turnover. The UK consumer body Which? has highlighted that 89% of people rely on reviews when making purchasing decisions, underscoring the significance of this issue. The CMA's new powers under the Digital Markets, Competition and Consumers Act allow it to address unfair practices related to online reviews without needing to go to court. This crackdown is part of a broader effort to protect consumers and maintain trust in online marketplaces.

Lloyds Banking Group has suffered a significant data breach, exposing personal information of nearly 500,000 customers. The incident occurred due to an IT glitch in its mobile banking apps, which allowed some users to view others' account details, national insurance numbers, and payment references. The glitch, caused by a software defect introduced during an IT update on March 12, potentially affected up to 447,936 customers. Approximately 114,182 people ended up clicking into transactions that revealed sensitive information. Lloyds reported the incident to the Financial Conduct Authority and the Information Commissioner's Office within the required 72 hours. The bank has assured that there is currently no evidence of misuse or malicious activity. The incident raises concerns about customer protections in the digital banking era, especially as banks continue to close branches and push users towards online services. Lloyds has paid £139,000 to compensate 3,625 customers for distress and inconvenience, although no financial losses were reported. The Treasury committee chair, Meg Hillier, emphasized the trade-off between convenience and security in modern banking, stating that consumers must understand the risks associated with online interactions. Lloyds will provide further updates on the incident to the committee in April and September, and is committed to addressing its responsibilities towards affected customers.

The World Trade Organization (WTO) has issued a stark warning that the world is currently facing the worst trade disruption in 80 years. This severe disruption is having far-reaching implications for the global economy, affecting trade flows and economic stability worldwide.The WTO's assessment underscores the gravity of the situation, with global trade experiencing unprecedented challenges. While specific details on the causes and exact extent of the disruption are not provided, the organization's statement highlights the urgent need for coordinated international efforts to address these issues and mitigate their impact on the global economy.

North Korean leader Kim Jong Un and Belarusian President Alexander Lukashenko have signed a friendship treaty aimed at deepening ties between their countries. Both leaders are close allies of Russian President Vladimir Putin.The treaty was signed on Thursday during Lukashenko's two-day trip to Pyongyang. He told Kim that relations between their countries were entering a 'fundamentally new stage', according to the Belarusian state news agency Belta.Lukashenko emphasized the need for independent countries to cooperate closely in today's global transformation, where global powers often ignore and violate international law. Kim expressed opposition to undue pressure on Belarus from the West.The North Korean leader gave Lukashenko a lavish welcome, including a white-horsed cavalry, flag-waving children, and a 21-cannon salute. Both nations have backed Russia's war in Ukraine.Kim has reportedly provided Moscow with ammunition and sent soldiers to help Russia expel Ukrainian forces from its western region of Kursk in 2024. Lukashenko allowed Belarus to be used as a launchpad for Russia's invasion in February 2022 and has agreed to allow Russian tactical nuclear missiles on its territory.The Belarusian leader, in power since 1994, is politically and economically dependent on Putin. North Korea and Belarus conduct a small volume of trade but share long experience of surviving under international sanctions. North Korea has been sanctioned due to its nuclear and ballistic missile programs, and Belarus over its human rights record and backing for Putin in Ukraine.

The conflict in the Middle East is expected to have a significant impact on the UK's economy, with the Organisation for Economic Cooperation and Development (OECD) warning of rising inflation and downgrading the UK's growth forecast to 0.7% this year.The OECD's analysis suggests that the UK economy will grow by just 0.7% this year, compared to its last forecast of 1.2% for 2026. This downgrade is attributed to a weakening of the UK jobs market and a contraction in business investment towards the end of 2025.The UK's economy is expected to suffer higher inflation than previously expected, with the OECD citing the country's dependence on international trade and imports of fuel as a major factor. In contrast, France, Germany, and Italy are expected to suffer a more modest hit to growth of 0.2 percentage points.The OECD's chief economist noted that the evolving conflict in the Middle East will test the resilience of the global economy, which is expected to grow at an average rate of 2.9% this year. However, the organization warned of a significant downside risk to the outlook, citing persistent disruptions to exports from the Middle East and potential repricing in financial markets.UK Chancellor Rachel Reeves responded to the OECD's warning, stating that the government plans to take steps to build a stronger, more secure economy, including handing more powers to regional mayors, embracing AI and innovation, and establishing a closer relationship with the EU.

UK Chancellor Rachel Reeves is facing pressure to raise taxes on businesses generating 'windfall' profits linked to the US-Israel war on Iran to fund emergency cost of living support for UK households.A group of leading charities, campaigners, and trade unions, including Greenpeace UK, the National Education Union, and Tax Justice UK, have written an open letter to Keir Starmer and Reeves, urging the government to strengthen its existing North Sea energy windfall tax and introduce new levies for firms in other sectors that stand to financially benefit from the conflict.The letter highlights that energy companies, banks, agricultural commodities businesses, defence companies, and tech firms are likely to profit from the economic fallout of the war. The group argues that the extra revenue generated from taxing these 'excess profits' could be used to support households struggling with the cost of living and invest in the UK's future energy security.R Reeves has signalled that the government is ready to provide targeted help for households grappling with the economic fallout from the Middle East conflict, amid a surge in energy prices since the onset of the war. The chancellor has also warned companies that she will not tolerate corporates profiteering from the crisis, telling bosses that the Competition and Markets Authority has been put on notice to detect and crack down on price gouging.The UK already has a windfall tax on North Sea oil and gas firms, the energy profits levy, which is due to run until 2030. However, Reeves had been planning to ease the tax before the US and Israel attacked Iran on 28 February.

The UK government has unveiled a new policy to prioritise British suppliers for public contracts in key sectors deemed vital to national security. Shipbuilding, steel, AI, and energy infrastructure will be the primary areas where British suppliers will be given preference. Under the new guidance, departments will be required to use British steel or justify sourcing it from overseas. This move is part of a broader effort to bolster national security and economic resilience, particularly in the face of global supply chain disruptions highlighted by the war in the Gulf. A Public Interest Test will also be introduced, obliging departments to assess whether outsourced service contracts over £1m could be delivered more effectively in-house. This test is expected to cover more than 95% of central government contracts by value. Chris Ward, a Cabinet Office minister, emphasised that these reforms aim to support British jobs, protect national security, and grow the economy. The policies are part of the National Security Strategy, which seeks to align national security with economic growth and build the resilience of British supply chains. While the UK is still subject to international obligations such as the Agreement on Government Procurement (GPA) – World Trade Organisation (WTO) rules, national security exemptions are being utilised to implement these new rules. Larger departments spending over £100m annually will need to publish an “insourcing” strategy, outlining plans to bring services back in-house where they offer better value. The government will also prioritise community impact in buying decisions, encouraging firms to demonstrate how their bids will create local jobs and apprenticeships. Additionally, a new suite of AI tools has been developed to streamline the commercial process, making it simpler, faster, and fairer for small businesses and charities to bid for work.