Elon Musk’s wealth is expected to reach new levels as significant business developments boost SpaceX and xAI, alongside a notable AI start-up investment and strategic proximity to influential figures enhancing Tesla.

Reeves is urging financial regulators to permit greater risk-taking to stimulate economic growth, arguing post-crisis rules are overly restrictive and hinder progress.

Rachel Reeves plans to legislate the consolidation of council pension schemes into eight large ‘megafunds’ to unlock £80 billion for investment and end local authority management, rejecting radical options.

The US administration’s firm stance on Tehran, characterised by a “maximum pressure” policy, is prompting major Gulf states like Saudi Arabia and the UAE to seek closer ties with Iran for their own security.