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STORY

The House of Lords Financial Services Regulation Committee has published a report warning that the UK is lagging behind the United States and the European Union in developing rules for stablecoins. The committee examined proposals from the Bank of England and the Financial Conduct Authority.

The report supports much of the direction of regulation but says ministers and regulators should reconsider parts of the proposed regime, including holding limits, backing asset requirements and restrictions on commercial banks issuing stablecoins. It also calls for more detail on how systemic stablecoins would be identified.

The issue is politically important because ministers want the UK to remain competitive in financial innovation while controlling risks from cryptoassets. The committee’s warning is that regulation must protect consumers and financial stability without closing down potential growth.

STORY

The Competition and Markets Authority has announced measures intended to secure a fairer deal for publishers and improve Google search services in the UK. The regulator said the action follows its work under the digital markets regime, where Google has been designated as having strategic market status in search and search advertising.

The CMA said the changes are intended to unlock more competition, support innovation and better protect consumers. It stressed that strategic market status does not itself mean a firm has acted anti-competitively, but it allows the regulator to consider targeted interventions after consultation.

The announcement has political significance because the Government is trying to show that its digital competition regime can respond to the power of large technology firms. It also matters to publishers, many of whom argue that online platforms have captured too much of the value created by news content.

STORY

The Government has set out detailed proposals to end what it calls exploitative zero-hours contracts, with a consultation on changes intended to give workers more security and predictability. The Department for Business and Trade said the reforms would address one-sided flexibility and uncertainty at work.

Under the proposals, workers on zero-hours or short-hours arrangements would gain rights to guaranteed hours based on a reference period, along with protections over cancelled or changed shifts. Ministers argue that this is central to Labour’s employment rights agenda and will improve the position of low-paid workers.

Business groups and unions have both raised concerns, though from different directions. Employers warn that rigid rules could reduce flexibility in sectors such as hospitality and retail, while unions argue that loopholes and limited guarantees could weaken the reform.

STORY

MPs are due to hold a general debate on the Government’s response to the Humble Address relating to Lord Mandelson’s appointment as ambassador to the United States. The debate replaces the previously scheduled remaining stages of the Railways Bill, underlining how the controversy has taken priority in the Commons timetable.

The papers listed for the sitting also include correspondence with the Deputy Prime Minister relating to the Mandelson appointment, reported to the House on 2 June. That gives MPs another formal route to scrutinise the process, beyond the media coverage of the released files.

For Labour, the parliamentary debate is awkward because it allows critics to revisit both the original appointment and the Government’s subsequent disclosure strategy. For the opposition, it offers a ready-made line of attack about transparency and judgement.

STORY

Reform UK has been accused of inflaming political tensions after releasing material attacking Kemi Badenoch over her response to the murder of Henry Nowak. The party’s intervention followed Nigel Farage’s call for “pure cold rage”, which opponents said risked intensifying an already volatile situation.

Badenoch rejected the framing of the case as a simple racial confrontation and criticised Farage for what she described as divisive rhetoric. Reform figures have defended their approach, arguing that public anger over the police response is legitimate and that political leaders should not dismiss concerns about equal treatment.

The argument has sharpened the battle between the Conservatives and Reform UK, with Labour watching both parties clash over law and order, race and public trust. It also gives the Government an opportunity to present itself as the voice of restraint, although that position may depend on what the police watchdog ultimately finds.

STORY

Sarah Jones, the policing minister, has criticised anti-discrimination guidance to police after the Henry Nowak case prompted renewed scrutiny of how officers respond to allegations of racial abuse. The row centres on guidance that critics say could give the impression that suspects should be treated differently according to race.

The National Police Chiefs’ Council has said it will review the relevant anti-racism guidance, while maintaining that forces must respond properly to different communities’ experiences of policing. Conservative and Reform UK politicians have used the case to argue that equality policies have gone too far, while others have warned against drawing sweeping conclusions before the investigation is complete.

The issue is politically sensitive because it links operational policing, race relations and the wider argument about so-called two-tier policing. Ministers will need to show that they are taking public concern seriously without appearing to prejudge the conduct of individual officers.

STORY

Sir Keir Starmer has urged calm after violent disorder in Southampton following the sentencing of Vickrum Digwa for the murder of 18-year-old Henry Nowak. The case has moved rapidly from a criminal justice matter into a national political argument about policing, race and the responsibilities of political leaders during moments of public anger.

Hampshire Police said 11 officers and one police dog were injured during the clashes, while two arrests were reported after protesters gathered outside Southampton Central Police Station. Nowak’s family have said they do not want his death used to inflame division or hostility, a plea which has become central to the Government’s response.

The Prime Minister’s position is that there are serious questions for the police to answer, but that those questions should be addressed through proper investigation rather than street violence. The episode is now likely to dominate Westminster debate for several days, particularly because political figures have already accused one another of exploiting the case.