UK's Strategic Movements: Energy Costs, Steel Accords, and Submarine Fleets

The Financial Times reports a wave of developments with significant implications for the UK economy and industry. BP's sale of its lubricants arm Castrol has attracted preliminary interest, though bid offers lag beneath the expected valuation of $8 billion. Meanwhile, AstraZeneca is making strides in oncology with a promising breast cancer treatment.

In trade relations, UK business secretary Jonathan Reynolds plans to pressure the Trump administration to enact a zero-tariff policy on UK steel, countering US President's tariff increase plans. Concurrently, Britain's industrial strategy faces critique for its inadequacies in addressing high energy costs.

On the defense front, Prime Minister Keir Starmer is set to announce a defense build-up with plans for constructing up to 12 new attack submarines, marking a shift towards a warfighting readiness, in an ambitious military reformation agenda.

(With inputs from agencies.)