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Economy

Hospitality bears half of UK job losses, according to bosses

The hospitality industry in the United Kingdom is experiencing an extraordinary staffing crisis, with leaders in the field indicating that almost 50% of recent job cuts nationwide have taken place in restaurants, hotels, pubs, and other service-focused establishments. These alarming statistics highlight wider economic challenges impacting employers and workers alike, including increasing expenses, inflation, changes in consumer habits, and a lack of available labor.In the UK, the hospitality industry has long been a major source of employment, providing jobs to a vast number of individuals, ranging from young entrants in the workforce to experienced workers. Nevertheless, the sector has recently…
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Trump reverses stance on 250% EU pharma tariff after deal

The escalating trade tensions between Washington and Brussels took a significant turn as former U.S. President Donald Trump agreed to withdraw plans for imposing an extraordinarily high tariff—reportedly 250 percent—on pharmaceutical imports from the European Union. This decision, which came as part of a broader trade arrangement, marks a critical moment in the long-standing negotiations between the two economic powerhouses and offers a temporary reprieve for industries on both sides of the Atlantic.The dispute traces back to a period of intensifying trade frictions, during which Washington sought to correct what it viewed as persistent imbalances and unfair practices in sectors…
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US in talks over 10% Intel stake, White House confirms

The government of the United States is said to be evaluating a major action that could transform the future of the semiconductor sector. Talks have emerged regarding the potential acquisition of as much as a 10 percent interest in Intel, a leading chip manufacturer globally. This notion illustrates the increasing worry about technological autonomy, national defense, and international competition in a domain that serves as the foundation for nearly every contemporary industry. Chip Manufacturing Initiative The initiative supports wider attempts to enhance the production of chips domestically. Semiconductors are crucial components for computers, smartphones, vehicles, military systems, and numerous connected…
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Dominion election defamation lawsuit settled by Newsmax for $67m

Newsmax has resolved its legal dispute with Dominion Voting Systems by agreeing to a $67 million settlement, closing a chapter in one of the most high-profile defamation cases linked to the 2020 U.S. presidential election. The agreement prevents the case from proceeding to trial and underscores the financial and reputational consequences faced by media outlets when reporting on claims that lack substantiated evidence.Dominion Voting Systems, una empresa que suministró tecnología electoral y máquinas de tabulación en todo Estados Unidos, se convirtió en un objetivo central de campañas de desinformación tras las elecciones de 2020. Acusaciones infundadas sobre la manipulación de…
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Ashton Kutcher joins board in £2bn Soho House buyout

A new chapter has begun for the renowned international private members' club, Soho House, following a recent purchase agreement that places its value at an impressive £2 billion. This essential deal not only underscores a major moment in the hospitality and leisure industry but also introduces a fresh viewpoint to the company's leadership. The move, which includes a prominent figure from the entertainment and technology fields onto its board, signifies a strategic shift for the brand as it seeks to expand its reach and appeal to a new generation of members. The purchase strengthens the club's position as a luxury…
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Shock and relief - businesses worldwide react to new Trump tariffs

Shock and relief – new Trump tariffs spark worldwide business reactions

The recent announcement of new tariffs by Donald Trump has caused a ripple of reactions across global markets. Businesses from various sectors are now re-evaluating their strategies as they prepare for the impact of these trade changes. With new import taxes ranging from 10% to 41%, many companies find themselves in a state of uncertainty—unsure whether to brace for disruption, adapt quickly, or find alternative solutions. El numeral arancelario forma parte de una iniciativa más amplia por parte de Trump para reorganizar las relaciones comerciales globales. A pesar de que la intención podría ser proteger las industrias nacionales, la situación…
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Trump hits Brazil with 50% tariffs and sanctions judge in Bolsonaro case

Trump hits Brazil with steep 50% tariffs, sanctions judge over Bolsonaro

The United States, under the direction of former President Donald Trump, implemented a 50% tariff on select Brazilian imports, while also placing sanctions on a Brazilian judge involved in a high-profile case connected to ex-president Jair Bolsonaro. These measures, announced during a period of escalating tensions, signaled a sharp shift in diplomatic and economic relations between Washington and Brasília. The implementation of significant tariffs, impacting crucial Brazilian exports, represented one of the toughest trade measures against the South American country in recent times. Authorities in the U.S. expressed worries regarding Brazil's economic strategies, trade disparities, and political events as reasons…
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EU-US tariff deal not finished yet, say Europeans unhappy with Trump's terms

EU-US tariff deal still unresolved as Europeans reject Trump’s terms

Efforts to finalize a trade agreement between the European Union and the United States are still in progress, with European representatives voicing growing frustration over the terms proposed by the U.S., particularly under the framework shaped during former President Donald Trump’s administration. While talks between the two sides have continued with cautious optimism, the core issues that have hindered progress remain largely unresolved. The proposed deal was intended to ease trade tensions and eliminate specific tariffs that have affected transatlantic commerce in recent years. However, European negotiators argue that the deal, as it currently stands, disproportionately benefits the United States…
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Trump says 'good friend' India may face up to 25% tariffs

Trump remarks ‘good friend’ India could get 25% tariffs

Donald Trump has implied that India, a nation he has referred to as a “good friend” in the past, might face high tariffs—possibly up to 25%—if issues regarding trade imbalances remain unresolved. His statements underscore the ongoing emphasis on trade policy as a crucial element of his economic strategy, especially concerning nations with which the United States has intricate economic ties. Trump's remarks arise amidst continuous debates about the future of international commerce and the use of tariffs as a tool for securing improved conditions for U.S. companies. Despite the relatively robust diplomatic and strategic connections between India and the…
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Adidas to raise prices as US tariffs costs rise by €200m

Adidas to raise prices as US tariffs costs rise by €200m

Adidas is preparing to adjust its pricing strategy in response to mounting financial pressure from increased U.S. import tariffs, which are projected to raise the company’s expenses by approximately €200 million. This anticipated cost spike is prompting the German sportswear giant to pass part of the financial burden onto consumers, especially in key markets like the United States. La corporation ha indicado que estos costos adicionales son mayormente impulsados por modificaciones en la política comercial, en especial los nuevos o aumentados aranceles aplicados a productos fabricados en lugares como China y luego exportados a los Estados Unidos. Para una marca…
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