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Von der Leyen calls for more EU defence spending after narrow election victory
Wed, 27 Nov 2024, 14:06
The head of the EU executive, Ursula von der Leyen, has called for more defence spending in Europe over the next five years, as her top team was voted in by a wafer-thin majority of ME Ps. The European parliament’s endorsement of the new EU executive by the narrowest-ever margin …
Welcome to Trump’s trade war – where no one wins because everyone just pays more for things | Greg Jericho
Wed, 27 Nov 2024, 14:00
If anyone was under any delusion that Donald Trump was not going to be as bonkers as he said he would be, then his announcement on Tuesday that he wouldslap a 25% tariff on all imports from Canada and Mexico(and deeper tariffs on China) should remove all doubt. “Tariff” has …
Nationwide’s £2.3bn takeover gain prompts criticism of Virgin Money bosses
Wed, 27 Nov 2024, 13:42
Nationwide building society has revealed a £2. 3bn gain fromits takeover of Virgin Money, prompting accusations that Virgin’s bosses decided to “take the money and run” after losing faith in the ex-chief executive David Duffy. The building society’s bosses hailed the terms of the deal on Wednesday, as it published …
‘End of an era’: Smithfield traders absorb news that London market is to close
Wed, 27 Nov 2024, 13:39
The junction at Cowcross Street marks the place where for centuries cattle were driven daily to London’s Smithfield Market. Nearby Cock Lane is another street name linked to the meat and poultry trade centred here since the 12th century, although some accounts attribute its origin to it being the only …
Aston Martin looks to raise £210m after second profit warning in two months
Wed, 27 Nov 2024, 13:32
Aston Martin has announced it is hoping to raise £210m to help boost growth and drive its electrification strategy, shortly after issuing its second profit warning in two months. The British luxury car manufacturer said it aimed to raise £110m through new shares and a further £100m by taking on …
Russia’s rouble plunges to lowest rate since early weeks of Ukraine war
Wed, 27 Nov 2024, 13:03
Russia’s rouble has plunged to its lowest rate against the dollar since the early weeks of the full-scale invasion of Ukraine in the wake of new western sanctions and growing geopolitical tensions. The rouble on Wednesday hit 110 against the dollar for the first time since 16 March 2022. Before …
Harvester and Toby Carvery owner says it will take £100m hit from tax changes
Wed, 27 Nov 2024, 12:32
The owner of Harvester, Toby Carvery and All Bar One, Mitchells & Butlers, has become the latest hospitality business to warn it will take a £100m hit as a result of the tax changes outlined in the October budget. The pub and restaurant group said it was facing “cost headwinds” …
Just Eat to delist from London Stock Exchange to cut costs
Wed, 27 Nov 2024, 12:25
The food delivery company Just Eat Takeaway is to delist from the London Stock Exchange to cut costs, in a further blow to the UK’s international financial standing. Just Eat will now only be listed on the Amsterdam stock market, where the company is headquartered. The company said the London …
Supermarket loyalty cards give genuine savings, says watchdog
Wed, 27 Nov 2024, 12:18
Shoppers signed up to supermarket loyalty schemes can make “genuine savings”, the competition watchdog has found, but it urged consumers to shop around to secure the cheapest prices. The Competition and Markets Authority (CMA) said it had reviewed 50, 000 products with loyalty price options and found 92% offered a …
Trump’s tariff plan will send prices ‘through the roof’, warn US firms
Wed, 27 Nov 2024, 12:00
Donald Trumpset the business and political world alight late on Monday. The incoming president said he would impose a 25% tariff on goods from Mexico and Canadaand hit Chinawith more levies on day one of his term. “This Tariff will remain in effect until such time as Drugs, in particular …
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