Oil Prices and Pound Drop as Fed Damps Rate Cut Hopes; Vodafone Merger Faces Security Review

Oil prices fell after Fed chair Jerome Powell dashed hopes of interest rate cuts in March by saying "the job's not quite done" on inflation.

Vodafone confirmed it is cooperating with a national security review into its £15bn merger with Three amid concerns over Three owner CK Hutchison's links to China.

The pound dropped to its lowest against the dollar in nearly two months after Powell's comments reduced hopes of a March rate cut.

UK services sector grew at fastest pace in 8 months in January as consumer confidence rose amid recession worries fading and loose financial conditions.

A finance worker was tricked into transferring £20m to scammers after a deepfake video call featured AI copies of his co-workers, including his UK-based CFO.