Welcome to the tenth edition of The Weekly Briefing!
Each week, we will recap the most interesting commercial news stories shaping the market, from corporate deals to regulatory shifts and highlight why they matter to businesses and law firms.
We aim to help readers sharpen their commercial fluency while keeping track of the legal angles behind the headlines.
Card Fee Caps Get the Green Light After Payments Giants Lose Court Fight
Mastercard, Visa and Revolut have lost a High Court challenge against plans to cap cross-border card fees, clearing the way for UK regulators to press ahead. The case centred on whether the Payment Systems Regulator had the legal power to impose price controls on interchange fees charged to retailers for overseas transactions.
Those fees rose sharply after Brexit, jumping from around 0.2–0.3% to as much as 1.5%, significantly increasing costs for UK businesses. The regulator argued the increases were “unduly high”. The court agreed, confirming the PSR’s authority despite its recent merger into the Financial Conduct Authority.
Commercially, the ruling draws a clear line. Retailers stand to benefit from lower costs, while banks and fintechs face pressure on a meaningful revenue stream. More broadly, it signals that even large payment platforms won’t be shielded from price intervention once they start to look like financial infrastructure.
Trump Threatens New Tariffs to Pressure Europe Over Greenland
Donald Trump is threatening new tariffs on European countries to pressure them into backing a US deal over Greenland. The proposal is simple: a 10% tariff from February, rising to 25% by June if no agreement is reached. What makes this unusual is the timing. Trump is still facing legal scrutiny over whether his original tariffs were lawful at all and courts could ultimately force refunds if those tariffs are struck down.
That’s why the legal vehicle matters more than the tariff itself. If Trump relies on a different statutory basis this time, it may signal they are preparing for an adverse ruling on the earlier tariffs. In other words, new tariffs may be less about trade and more about limiting future legal exposure.
Markets will react to this and move money out of equity indices and into hard assets, driving rallies in gold, silver, and other raw materials that tend to hold their value as political risk rises.
A Strong FTSE Could Change London’s IPO Outlook
The FTSE 100 has started 2026 strongly after a quiet year. Much of the momentum is coming from the index's dominant sectors.
Miners and energy companies have benefited from higher commodity prices, stable margins and valuations have supported banks, and defence stocks continue to attract capital amid geopolitical tension. These are large, globally exposed businesses, precisely the kind that move the FTSE.
A rising index signals confidence. It shows investors are willing to put money to work in UK-listed companies rather than sending capital overseas. After a period where London struggled to attract listings, that shift in sentiment is essential.
Companies choose where to list based on where they think demand will be deepest. For years, the US has had the edge, with bigger funds and higher valuations. If UK indices continue to perform, London looks better positioned to support sizeable IPOs again after years of subdued listings, strengthening the case for companies considering the London Stock Exchange in 2026.