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UK fuel retailers accused of ‘ripping off’ motorists at the pumps; markets shrug off latest Trump tariffs – business live

Rolling coverage of the latest economic and financial newsTrump says US will impose new tariffs on heavy trucks, drugs and kitchen cabinetsAndy Burnham alarms investors with call to end UK dependence on foreign lendersDonald Trump’s overnight threat to impose 100% tariffs on pharmaceuticals from companies not based in the US has been met with fresh uncertainty across Europe.The Germans and the EU-wide trade body have expressed concern while Ireland and Brussels says it remains confident that the 15% tariff rate agreed in July will apply to European drugs exported to the US.“The EU and US already have a trade agreement in place; urgent discussions are needed on how to avoid any tariffs on medicines that harm patients in the EU and the US.”“I want to stress that the EU and US joint statement issued on August 21 made absolutely clear that any new tariffs announced by the US on pharmaceuticals would be capped at 15% for pharma products being exported by the EU.”“This remains the case an...

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												14 h. ago											Schumer says Democrats will force vote to overturn Canada tariffs as Carney says nation ‘stands ready’ to continue US trade talks – live
												
													Democratic leader calls Canada tariffs ‘damaging’ and vows effort to overturn them; Canadian prime minister says he wants to see progress on trade negotiationsUS and Canada spar over anti-Trump tariff ad that suspended trade talksThe US secretary of state has confirmed Donald Trump’s announcement that all trade negotiations with Canada have been suspended.Marco Rubio spoke during a visit to a civil-military coordination centre in southern Israel. Continue reading...												
												
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												16 h. ago											British IT consultant who 'couldn't bear to live with non Muslims' so flew business class to Syria to fight for Islamist terrorists is jailed for nine years
												
													Isa Giga (pictured), 32 from Hounslow in west London , devastated his family when he told them he was going to Birmingham but instead quit his job and travelled to Syria via Turkey in 2015.												
												
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												17 h. ago											Wall Street hits record highs after US inflation report fuels interest rate cut hopes – business live
												
													US consumer prices rose by less than expected last month, as markets digest breakdown of trade talks with CanadaUS prices rose at a 3% annual rate in September, slightly beating forecastsNewsflash: Conditions appear to be improving in the UK economy this month.The latest poll of purchasing managers at British firms has found that growth is picking up after the lull in September, partly helped by the resumption of manufacturing at Jaguar Land Rover after its recent cyber attack.“October’s flash UK PMI survey brings hope that September was a low point for the economy from which business conditions are starting to improve.Output has picked up, with a particularly welcome return to growth for manufacturing for the first time in over a year accompanied by an upturn in demand for services, notably among consumers. Business confidence has also brightened slightly, job losses have moderated, and inflationary pressures are coming back to levels consistent with the Bank of England’s 2% target...												
												
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												17 h. ago											Inflation jumps 3 percent in September as Trump defends his new tariff war with Canada
												
													The numbers come as Trump has said the tariffs have improved the economy, but he canceled all talks with Canada												
												
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												20 h. ago											Trump terminates trade talks with Canada over ‘fraudulent’ Ronald Reagan tariff ad
												
													Furious Trump accuses country of ‘egregious behavior’ in social media post												
												
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												21 h. ago											Business conditions ‘starting to improve’ in UK economy as activity picks up – business live
												
													Rolling coverage of the latest economic and financial newsNewsflash: Conditions appear to be improving in the UK economy this month.The latest poll of purchasing managers at British firms has found that growth is picking up after the lull in September, partly helped by the resumption of manufacturing at Jaguar Land Rover after its recent cyber attack.“October’s flash UK PMI survey brings hope that September was a low point for the economy from which business conditions are starting to improve.Output has picked up, with a particularly welcome return to growth for manufacturing for the first time in over a year accompanied by an upturn in demand for services, notably among consumers. Business confidence has also brightened slightly, job losses have moderated, and inflationary pressures are coming back to levels consistent with the Bank of England’s 2% target. Continue reading...												
												
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												22 h. ago											Business condition ‘starting to improve’ in UK economy as activity picks up – business live
												
													Rolling coverage of the latest economic and financial newsNewsflash: Conditions appear to be improving in the UK economy this month.The latest poll of purchasing managers at British firms has found that growth is picking up after the lull in September, partly helped by the resumption of manufacturing at Jaguar Land Rover after its recent cyber attack.“October’s flash UK PMI survey brings hope that September was a low point for the economy from which business conditions are starting to improve.Output has picked up, with a particularly welcome return to growth for manufacturing for the first time in over a year accompanied by an upturn in demand for services, notably among consumers. Business confidence has also brightened slightly, job losses have moderated, and inflationary pressures are coming back to levels consistent with the Bank of England’s 2% target. Continue reading...												
												
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												25 h. ago											Donald Trump drops trade bombshell as he axes Canada talks over 'fake' Ronald Reagan advert
												
													‘Based on their egregious behavior, ALL TRADE NEGOTIATIONS WITH CANADA ARE HEREBY TERMINATED,’ Trump wrote on Truth Social												
												
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												27 h. ago											Delayed inflation report expected to show US prices ticked up last month
												
													Friday’s inflation report is likely to show that consumer prices worsened in September for the second straight month as President Donald Trump’s tariffs have lifted the cost of some groceries and other goods												
												
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												27 h. ago											Trump says all Canada trade talks ‘terminated’ over ad criticising tariffs
												
													US president accuses Canada of ‘egregious behaviour’ after release of ad featuring Ronald Reagan speaking negatively about tariffs Donald Trump has said he is ending “all trade negotiations” with Canada after the release of a television ad opposing US tariffs. The US president accused Canada of “egregious behavior” aimed at influencing US court decisions.The Thursday night post on Trump’s social media site came after Canadian prime minister Mark Carney said he aims to double his country’s exports to countries outside the US because of the threat posed by Trump’s tariffs. Continue reading...												
												
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												41 h. ago											Volvo and VW say Dutch takeover of Chinese chipmaker could halt car factories
												
													Japan also affected as manufacturers report Nexperia has warned them of possible supply problem Business live – latest updatesCar companies across Europe and Japan including Volvo, Honda and Nissan, have warned that the Dutch takeover of a Chinese-owned chip manufacturer could hit production at factories.Last week’s decision by the Netherlands government to take control of Nexperia has sent shock waves around the auto industry, which is already facing potential shortages in products such as magnets amid China’s latest restrictions on rare earths exports. Continue reading...												
												
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												42 h. ago											UK manufacturers hit by largest drop in orders since 2020; FTSE 100 hits record high – business live
												
													Shares in oil companies jump after US sanctions Russian energy firms, while manufacturers see weak prospects aheadYesterday’s weaker-than-expected UK inflation report has sparked chat that the Bank of England could cut interest rates sooner than expected.Deutsche Bank say there is now an “interesting debate” on whether there may be enough ammunition for the Bank’s monetary policy committee to cut borrowing costs as soon as its next meeting in early November.What’s the case for November? Relative to the Bank’s projections, growth has surprised to the downside, private sector AWE growth has surprised to the downside, unemployment has risen in line with Bank expectations, and inflation now sits a healthy amount below the Bank’s projections. Indeed, one could make the argument that the ingredients for a November rate cut are there.So, why not November? We think three things will be important for the MPC to see before dialling down restrictive policy again. One, the MPC may want to see s...												
												
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												44 h. ago											UK manufacturers hit by largest drop in orders since 2020; FTSE 100 hits fresh record high – business live
												
													Shares in oil companies jump after US sanctions Russian energy firms, while manufacturers see weak prospects aheadYesterday’s weaker-than-expected UK inflation report has sparked chat that the Bank of England could cut interest rates sooner than expected.Deutsche Bank say there is now an “interesting debate” on whether there may be enough ammunition for the Bank’s monetary policy committee to cut borrowing costs as soon as its next meeting in early November.What’s the case for November? Relative to the Bank’s projections, growth has surprised to the downside, private sector AWE growth has surprised to the downside, unemployment has risen in line with Bank expectations, and inflation now sits a healthy amount below the Bank’s projections. Indeed, one could make the argument that the ingredients for a November rate cut are there.So, why not November? We think three things will be important for the MPC to see before dialling down restrictive policy again. One, the MPC may want to see s...												
												
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												44 h. ago											UK manufacturers hit by largest drop in orders since 2020; Oil price jumps after Rosneft and Lukoil sanctioned – business live
												
													British manufacturers see the weakest prospects for orders since Covid-19 pandemic, CBI reports, after demand weakened in last three monthsYesterday’s weaker-than-expected UK inflation report has sparked chat that the Bank of England could cut interest rates sooner than expected.Deutsche Bank say there is now an “interesting debate” on whether there may be enough ammunition for the Bank’s monetary policy committee to cut borrowing costs as soon as its next meeting in early November.What’s the case for November? Relative to the Bank’s projections, growth has surprised to the downside, private sector AWE growth has surprised to the downside, unemployment has risen in line with Bank expectations, and inflation now sits a healthy amount below the Bank’s projections. Indeed, one could make the argument that the ingredients for a November rate cut are there.So, why not November? We think three things will be important for the MPC to see before dialling down restrictive policy again. One, ...												
												
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												45 h. ago											FTSE 100 Live 23 October: Index near record, results boost for Rentokil and LSEG
												
													Lloyds Banking Group and Unilever are among the companies in the spotlight amid a busy session for FTSE 100 updates.												
												
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												47 h. ago											FTSE 100 Live 23 October: Index higher as Rentokil and LSEG surge, Foxtons warns
												
													Lloyds Banking Group and Unilever are among the companies in the spotlight amid a busy session for FTSE 100 updates.												
												
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												48 h. ago											FTSE 100 Live 23 October: Lloyds posts lower profit, Foxtons cuts guidance
												
													Lloyds Banking Group and Unilever are among the companies in the spotlight amid a busy session for FTSE 100 updates.												
												
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												48 h. ago											Oil price jumps after US sanctions Russia’s Rosneft and Lukoil; White House considers software curbs on China – business live
												
													Rolling coverage of the latest economic and financial newsThe oil price has jumped after the US has sanctioned Russia’s two largest oil companies to increase pressure on the Kremlin to negotiate an end to its war against Ukraine.The White House’s new measures against Rosneft and Lukoil are the US’s first sanctions against Russia since Trump’s return to office in January. All assets belonging to the two companies in the US have been frozen, and US companies and individuals will be barred from doing business with them. Continue reading...												
												
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												61 h. ago											Hilton says demand for hotel rooms in America has dropped as U.S. travel slows this year linked to Trump tariffs and immigration fears
												
													Travel for Americans slowed this year as many households struggle under the impacts of the Trump administration’s tariffs, rising inflation and the overall high cost of living												
												
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												64 h. ago											Trump comes for Barbie: Mattel lays bare the impact of global tariffs as holiday shopping begins
												
													It is the first time that Mattel has missed on both earnings and revenue expectations in three financial quarters												
												
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