Kia ora and welcome to your Friday catch up on international business and political news.
First up, Andrew Mountbatten-Windsor, younger brother to King Charles, has been arrested on suspicion of misconduct in public office. Thames Valley Police said they arrested "a man in his 60s from Norfolk" after vehicles, believed to be unmarked police cars, were seen arriving at Sandringham Estate, the BBC reported.
Andrew was not identified in the statement from police. Police said they were assessing a complaint over the alleged sharing of confidential material by the former prince with the late financier and sex offender Jeffrey Epstein.
In a statement, King Charles said a “full, fair, and proper process” would now be followed by authorities.
"In this, as I have said before, they have our full and wholehearted support and co-operation. Let me state clearly: the law must take its course. As this process continues, it would not be right for me to comment further on this matter.
"Meanwhile, my family and I will continue in our duty and service to you all.”
US billionaire Les Wexner, who is alleged to have played a key role in helping Epstein build his wealth, described himself as "naive, foolish, and gullible" for trusting Epstein.
US President Donald Trump will decide whether to launch military strikes against Iran in the next 10 days, CNBC reported. “So now we may have to take it a step further, or we may not,” Trump said.
“Maybe we’re going to make a deal. You’re going to be finding out over the next probably 10 days.”
Earlier, oil prices rose around 2% after the comments, with benchmark Brent crude up to US$71.75 per barrel.
Trump hosted the inaugural meeting of his so-called ‘Board of Peace’, where countries promised US$7 billion for Gaza’s reconstruction, and six countries pledged troops for an eventual 20,000-strong International Stabilisation Force, Al Jazeera reported.
US President Donald Trump.
Indian billionaire Mukesh Ambani’s conglomerate plans to inject up to 10 trillion rupees over seven years into artificial intelligence infrastructure. The investment by Reliance Industries and Reliance Jio Infocomm aimed to lower the cost of AI, Bloomberg reported.
Ambani said India can’t afford to “rent” intelligence. “Therefore, we will reduce the cost of intelligence as dramatically as we did the cost of data.”
The announcement followed an AI investment pledge by Gautam Adani earlier this week and Tata Group’s plan to partner with OpenAI. India’s largest conglomerates were doubling down amid the country’s goal of being a hub for artificial intelligence and cloud computing, Bloomberg noted.
A South Korean court has sentenced former President Yoon Suk Yeol to life in prison for leading an insurrection during his botched attempt to place the country under martial law in December 2024, Al Jazeera reported.
Yoon’s lawyers argued that the ruling was not supported by evidence and would discuss an appeal. The Seoul Central Court also convicted former Prime Minister Han Duck-soo and gave him a 23-year prison sentence for attempting to legitimise the martial law decree, falsifying records, and lying under oath.
Amnesty International said Yoon’s guilty verdict was an “important step” towards accountability.
British Gas owner Centrica announced it was putting share buyback plans on ice after a 39% drop in profit last year. Adjusted earnings before interest, tax, depreciation and amortisation fell to £1.4b in 2025, down from £2.3b a year earlier, the Guardian said.
Centrica chief executive Chris O’Shea said it had been a “challenging” year for the business.
“Pausing the buyback enables us to prioritise investment that creates lasting value for shareholders, while continuing to deliver the reliable, affordable energy that households and businesses need to power economic growth through the transition.”
Over the Ditch, a report has found Australia’s federal, state and territory government gross debt could exceed levels not seen since World War II in 2028. The report by the e61 Institute warned of the burden of growing government spending, the ABC reported.
e61 chief executive Michael Brennan said nearly two decades of deficits were eroding the country’s financial health. "Without tax reform, spending restraint will be needed to avoid burdening future generations with a fragile, inequitable and inefficient Australian economy," he said.
Staying with finance, US goods imports continued to outpace its exports last year, sending the country's trade deficit to a new high. The gap between the value of goods imported into the US and American-made products sold to other countries widened by 2.1% compared to 2024, hitting about US$1.2 trillion, the BBC reported.
