Business

Bessent blasts China as ‘unreliable’ as trade tensions mount

[ad_1] Danielle KayeBusiness reporterWatch: "This is China versus the world", says Scott Bessent on tradeTop US officials have accused China of betraying a trade truce reached earlier this year, escalating tensions between the two economic giants. In an unusual, staged appearance, US Trade Representative Jamieson Greer and Treasury Secretary Scott Bessent blasted China's plans to curb exports of rare earths "economic coercion" and "a global supply chain power grab"."If China
Business

Energy standing charge plans could backfire, MPs told

[ad_1] Kevin PeacheyCost of living correspondent andJoshua NevettPolitical reporterGetty ImagesEnergy bosses have given a cool reception to regulator Ofgem's plan to overhaul standing charges.Under Ofgem's plans announced in September, all suppliers in England, Scotland and Wales will offer at least one tariff in which standing charges are lower but customers then pay more for each unit of energy used.But appearing before a committee of MPs, the chief executives and senior
Business

Legal challenge begins against Gatwick Airport expansion

[ad_1] PA MediaPlans for the second runway at Gatwick were submitted for consideration in July 2023A campaign group has launched a legal challenge over the expansion of Gatwick Airport. Communities Against Gatwick Noise Emissions (CAGNE) is arguing that the government's decision to approve the construction of a second operating runway at the West Sussex airport was flawed. The Department for Transport said it was unable to comment due to ongoing
Business

Royal Mail fined £21m by Ofcom for missing delivery targets

[ad_1] Emer MoreauBusiness reporterGetty ImagesA quarter of all first-class post was delivered late last yearRoyal Mail has been fined £21m after almost a quarter of first-class post arrived late, Ofcom has announced.It is the third-largest fine the communications watchdog has ever issued and follows its investigation after Royal Mail missed its targets for both first and second-class post in 2024/25.Ian Strawhorne, director of enforcement at Ofcom, said: "Millions of important
Business

Trump says US will not ‘waste our time’ helping Argentina if Milei loses

[ad_1] President Donald Trump has acknowledged that a $20bn (£15bn) US lifeline to help calm Argentina's currency crisis is an attempt to sway elections this month in the South American nation.Welcoming Argentina's libertarian leader Javier Milei to the White House, Trump warned that the US would not "waste our time" with helping Argentina if Milei's party did not prevail.Milei praised Trump for his peacemaking efforts and said the US president's
Business

Trump tariffs on kitchen cabinets and timber come into force

[ad_1] New US tariffs on imported kitchen cabinets, vanities, lumber, timber and certain upholstered furniture have come into effect. Under a proclamation signed by President Donald Trump last month, a 10% tariff on softwood lumber and timber imports will apply as of Tuesday. A 25% tariff will also apply to imported kitchen cabinets and vanities - rising to 50% on 1 January - and a 25% tariff on upholstered wooden
Business

Argentina’s President Milei divided his nation but won over Trump

[ad_1] Ione WellsSouth America CorrespondentBBCBuenos Aires, September 2023. Hundreds of people crowded around to wave flags and film on their phones. The man with unruly hair and sideburns in the centre of them, clad in a black leather jacket, hoisted a roaring chainsaw above his head.This was an election rally taking place in the San Martín area of the Argentine capital a month before the presidential election - and the
Business

Asahi ransomware attack: Personal data potentially stolen

[ad_1] Personal data may have been stolen in the ransomware attack that forced Asahi to halt beer production, the company has said. Japan's biggest brewer was forced to halt production at the majority of its 30 factories in the country, after a cyber-attack late last month disrupted everything from beer shipments to its accounting system.All of Asahi's facilities have now partially reopened and restarted production but computer systems remain down,
Business

What is the triple lock and how much is the state pension worth?

[ad_1] Getty ImagesThe new state pension is set to rise by more than £500 a year in April 2026, as a result of the triple lock arrangement. This guarantees that the state pension goes up each year in line with either inflation, wage increases or 2.5% - whichever is the highest.The September 2025 inflation figure won't be released until later in October, but it is expected to be below average
Business

I fear my wedding sari is destroyed

[ad_1] Natalie Shermanbusiness reporterJanani Mohan/Yagappa PhotographyJanani Mohan is missing a sari she wore at her wedding in April, which was also worn by her motherGraduate student Nicole Lobo moved back to the US in late August after a year in the UK, shipping 10 boxes of possessions back home to Philadelphia that she expected to arrive within a few days. Six weeks later, she is still waiting for the shipment