Time is running out to implement the British government’s post-Brexit plans to require all meat and dairy products sold in Northern Ireland to be labelled “Not for EU” consumption, retail and trade lobby groups warned on Wednesday. The “Not for EU” labels on meat and dairy products are to be phased in from October as
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Republican lawmakers and presidential hopefuls have largely shied away from criticising Donald Trump after a jury found him liable for the sexual abuse of a journalist in the 1990s, in the latest sign of the former president’s grip on the party. A nine-person jury on Tuesday unanimously found Trump liable for battery and defamation, while
Shares in Icahn Enterprises fell as much as 20 per cent after it revealed federal prosecutors in New York have contacted the company seeking information on its business, including corporate governance, valuations and due diligence. Carl Icahn’s company disclosed in a regulatory filing on Wednesday that it received the request from prosecutors on May 3,
Audits carried out by the Chinese arms of KPMG and PwC contained an “unacceptable” number of flaws, US inspectors said on Wednesday, as they vowed to expand examinations of large accounting firms in the country. The Public Company Accounting Oversight Board found multiple deficiencies in all four of the audits it examined by KPMG Huazhen,
Brookfield Asset Management predicts consolidation in the private capital industry as challenging financial markets force smaller players to find homes inside larger institutions, causing a handful of industry giants to emerge. “Every industry eventually goes through consolidation . . . [The] alternatives industry is in the midst of this today,” said Bruce Flatt, chief executive of the Toronto-based
It is a measure of how things look for the Conservatives that many of the party’s leading lights are already planning for what comes next. Tory think-tanks are running projects on the future of Conservatism, MPs publish pamphlets on the right way forward. Now into this mix comes a troubling import. Next week London hosts
The publishers of the Mirror newspaper carried out “unlawful activities” on an “industrial scale”, it was claimed in London’s High Court on Wednesday at the start of a lawsuit brought by Prince Harry and three other celebrities alleging phone hacking by the media group. David Sherborne, the barrister representing Prince Harry, said senior executives at
US inflation was slightly weaker than forecast in April, bolstering Treasuries and Wall Street stocks on hopes that the Federal Reserve’s interest rate hikes are bringing price rises under control. Consumer price inflation dipped to an annual rate of 4.9 per cent, its lowest level since April 2021. Economists had expected it to remain steady at
European stocks followed Asia markets lower on Wednesday as traders nervously awaited the release of closely watched US inflation data, with a stronger than expected figure likely to raise the pressure on the Federal Reserve to continue increasing interest rates. The region-wide Stoxx 600 fell 0.2 per cent and Germany’s Dax dropped 0.3 per cent,
Latin America is blessed with abundant and cheap renewable energy. It is one of the world’s biggest food exporters. It is at peace, far from global conflicts and its nations are mostly robust democracies. It is close to the US, ideally placed to profit from the moving of production from China. Yet Latin America’s presidents
If you’ve worn, touched or seen a diamond which was cut and polished in the past decade or so, the chances are it passed through Surat, India. India boasts more than 90 per cent of the world’s diamond manufacturing, and this historic trading city on the north-west coast is the industry’s capital. Surat’s polishers, who
The writer is a science commentator People who are very rich or very clever, or both, sometimes believe weird things. Some of these beliefs are captured in the acronym Tescreal. The letters represent overlapping futuristic philosophies — bookended by transhumanism and longtermism — favoured by many of AI’s wealthiest and most prominent supporters. The label,
When Gavin Patterson moved to become a top executive at San Francisco-based tech company Salesforce in 2019 after a sometimes bruising few years running BT, there was one clear perk. “On a personal level, you get to earn more money in the US,” he said. “And there is no public outcry if you are successful.”
Profits in the US banking sector reached an all-time high of roughly $80bn in the first quarter, up 33 per cent from a year ago, even as the industry contended with the aftermath of two bank failures and the most significant stress since the 2008 financial crisis. The banking turmoil was in large part responsible
The writer is president of Queens’ College, Cambridge, and an adviser to Allianz and Gramercy The US banking tremors are evolving. The first phase of the turmoil, when sudden and massive deposit outflows from poorly-managed and inadequately-supervised banks caused spectacular failures, has been stabilised. The current phase, which focuses on funding cost and balance sheet
A British citizen pleaded guilty on Tuesday to US computer hacking charges, including a 2020 attack on Twitter that took over dozens of celebrity accounts to solicit more than $115,000 in cryptocurrency. Joseph James O’Connor, known online as PlugwalkJoe, was extradited from Spain to the US on April 26. “O’Connor used his sophisticated technological abilities . . . to
Donald Trump has been found liable for the sexual abuse of a journalist in a Manhattan department store in the 1990s, in a significant legal defeat for the former US president as he mounts a third bid for the White House. A nine-person jury deliberated for just a few hours before unanimously finding Trump liable
Advances in artificial intelligence will threaten white-collar workers and create “a serious number of losers” over the next decade, according to one of the co-founders of AI lab DeepMind who has pioneered the technology. “Unquestionably, many of the tasks in white-collar land will look very different in the next five to 10 years . . . there are
High-spending holidaymakers are spearheading a boom in first-class and business-class flight bookings, leading big airlines to bet on a new era of luxury travel with investments in their cabins and lounges. Lufthansa this month said the “very strongest demand” for travel this year had been in its premium cabins and that leisure travellers had “almost
A war of words has erupted between John Allan, the Tesco chair, and a law firm instructed by the CBI in the latest embarrassment to hit the scandal-hit lobby group. Fox Williams disputed on Tuesday Allan’s assertion that it had chosen not to investigate allegations of inappropriate conduct made against Allan, a former CBI president,
Rishi Sunak’s plan to double down on his five core policy priorities after the Tories’ dismal local election results suffered a setback on Tuesday as the government acknowledged it had missed a key target on cutting NHS waiting lists. Health secretary Steve Barclay made clear some patients in England have been unable to secure hospital