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Tech Stocks Tumble as Wall Street Suffers Worst Daily Performance Since September
US stocks surrendered their October gains as a significant tech sell-off triggered Wall Street's most substantial daily decline in nearly two months. The S&P 500 fell 1.9 per cent whilst the tech-heavy Nasdaq Composite plummeted 2.8 per…
IMF warns Trump’s trade tariffs may damage the global economy, but it also upgrades UK outlook
The International Monetary Fund warned that the tariffs proposed by Donald Trump, the US presidential candidate, could harm global growth and upgraded its forecasts for the UK's economy.
The Washington-based organization said that…
UK’s post Brexit checks on fruits and vegetables have been delayed a third.
The third delay in the planned post-Brexit check on fruits and vegetables imported into Britain from EU has been made due to concerns raised by suppliers that the checks could result in higher prices for consumers.
The government has…
Russia Establishes Covert Trade Network with India to Circumvent Sanctions
In a startling revelation, leaked Russian state correspondence has unveiled Moscow's clandestine efforts to establish a covert trade channel with India. The primary objective of this secretive network is to secure critical electronics and…
Unite Calls for Wealth Tax on Super-Rich to Fund Public Sector Pay Rises
Britain's second-largest trade union, Unite, is urging the new Labour government to introduce an emergency 1% wealth tax on the assets of the super-rich. The proposed tax would be applied to individuals with assets exceeding £4 million,…
Labour Unions to Push for Pay Restoration Deals in Public Sector
The Trades Union Congress (TUC) is preparing to vote next month on a motion aimed at making "pay restoration" deals a key focus in their campaigns with the Labour government. These deals are intended to provide above-inflation pay increases…
BT Breathes Sigh of Relief as Patrick Drahi Reportedly Sells Down Stake to Raise Cash
The City is abuzz with speculation that debt-laden media tycoon Patrick Drahi has quietly sold a portion of his nearly 25 percent stake in BT over the past few months. According to a new analysis, the French-Israeli billionaire, who is the…
Mohsin issa injects £30m to stop Asda’s sales slump
Asda's chief Mohsin Issa announced an emergency cash injection of £30m amid an alarming drop in sales at the troubled grocery chain.
The investment package will be implemented by the end of this year. It will increase staffing hours,…
Harland & Wolff, the Titanic shipbuilder, suspends its shares trading
Harland & Wolff has suspended trading in its shares after failing to publish audited results for the past year.
PKF Littlejohn's auditor failed to sign the accounts on time because of a delay in deciding whether revenue should be…
UK and EU horticulture companies warn of the harm caused by post Brexit border delays
Nursery and garden centres in Britain and Europe warned that the new border posts after Brexit are not functioning properly, causing delays, damage, and extra costs to importers of plants.
The Horticultural Trade Association (HTA), which…
China accepts tariff talks on electric cars as EU tries to avoid a trade war
The EU and Beijing have concluded last-ditch negotiations over plans to increase tariffs on Chinese electric car imports amid concerns of an upcoming tit-fortat trade conflict.
The European Commission and China's trade ministers agreed…
Import tariffs to be imposed on Chinese electric cars
The EU will notify China this week that it is imposing tariffs on imports of electric vehicles, kicking off a possible summer trade war between Beijing and the EU.
After a long investigation into China's subsidies for car manufacturing…
Exports of UK clothing to the EU are plummeting as Brexit redtape discourages exporters
According to a recent study, UK exports of footwear and clothing to the EU are down since the Brexit. This is due to complex regulations at the border and the red tape that has been imposed.
According to Retail Economics and Tradebyte,…
Report: Bulk gold exported from Africa to UAE
The UAE is accused of receiving tens and tens billions of dollars in gold that's smuggled from Africa each year. This reflects the growing concern about the illicit trade of precious metals.
Swissaid, in a comprehensive report, estimated…
China celebrates a ‘new beginning” at the summit with Japan, South Korea
Li Qiang, Premier of China, hailed "a new beginning" in the relationship between China and South Korea as well as Japan. The three countries also pledged to restart talks on a Free Trade Agreement.
In a statement released after their…
Even though inflation has fallen, traders bet against a summer rate cut
Looming election and higher-than-predicted price rises push expectations back to November
Investors are pushing back the expectation of a rate cut in this summer, even though Rishi Sunak has hailed an inflation drop as a major moment for…
Reddit Shares Soar After Announcing Partnership with OpenAI
In a move that sent Reddit (NYSE:RDDT) shares surging by 14% in after-hours trading, the social media platform announced a groundbreaking partnership with OpenAI, the creator of ChatGPT. This collaboration is set to revolutionize the way…
Brexit IT problems at the border can delay perishable imports to UK by as much as 20 hours
The UK's most busy Brexit post is holding up to 20-hours of trucks carrying plants and perishable foods from the EU due to IT system failures.
Businesses have called the new border controls by the government a disaster after IT failures…