Ports across the UK and mainland Europe are becoming increasingly congested as the US-China trade war forces hundreds of vessels to divert or stall, causing widespread disruption in global shipping routes. The turmoil follows President Donald Trump’s decision to impose a 145 per cent tariff on Chinese imports, prompting a swift retaliation from Beijing with […]
British sports car manufacturer Lotus is set to cut up to 270 jobs in the UK, citing “volatile and evolving market conditions”, including the impact of new US tariffs on its vehicles. The Norfolk-based company said the restructuring was “vital to enhance our competitiveness” and ensure long-term sustainability. The cuts will affect staff at its […]
Intense competition for apartments in Manhattan is keeping rents close to record highs, making luxury towers in Jersey City a potentially attractive option for both tenants and investors. Tishman Speyer is already constructing the first phase of its waterfront apartment project, at 55 Hudson St. That 58-story building, with 1,017 units, is expected to open […]
Parliament is to be recalled this Saturday for an emergency debate on the future of British Steel’s Scunthorpe plant, as the government considers taking control of the business to safeguard jobs and the UK’s industrial capacity. The unexpected move comes just days after MPs left Westminster for their Easter recess, with no plans to return […]
The price of gold soared to an all-time high on Friday, reaching $3,223.72 per ounce, as investors rushed to the safe-haven asset amid rising geopolitical tensions and a sharp escalation in the trade war between the US and China. China raised tariffs on American imports to 125% in retaliation for President Trump’s decision to increase […]
The UK economy recorded stronger-than-expected growth of 0.5% in February, offering a welcome boost to business confidence and easing immediate fears that President Trump’s global tariff policy would constrain British output. Figures released on Friday by the Office for National Statistics (ONS) showed broad-based expansion across services, production and construction. The result far outpaced economists’ […]
The UK labour market saw the sharpest rise in jobseekers since 2020 in March, as fewer job vacancies and a growing wave of redundancies pushed more people into the market, according to the latest data from KPMG and the Recruitment and Employment Confederation (REC). The rise in staff availability — the most significant since December […]
Former Conservative cabinet minister Penny Mordaunt has come under fire after accepting a paid consultancy role with British American Tobacco (BAT), one of the world’s largest tobacco firms — a move described by critics as incompatible with public health responsibilities. Mordaunt, who previously held ministerial roles in health, work, and disability, is now advising BAT’s […]
The Conservative Party has launched the next phase of its Policy Renewal Programme, with a renewed focus on business. Speaking today, Andrew Griffith MP, the Shadow Secretary of State for Business and Trade, unveiled plans for what he calls the biggest review and engagement process with British businesses in a generation. Drawing on his background […]
The bank has hired several AML experts, reduced the pay of its senior team and changed its CEO, and is now going through a strategic review that will look for ways to reallocate capital, optimize costs, simplify its portfolio and invest in new technology that can support organic growth. The review is expected to be […]