China has shocked global markets by hitting $75bn of US imports with tariffs, in a further escalation of trade tensions that risks tipping the world economy into recession.
Stock markets dropped after Beijing announced that tariffs of 10 per cent and 5 per cent on two tranches of goods will come into effect on 1 September..
China appeared to have softened its stance towards Donald Trump’s administration, calling on the US president this week for a compromise.
Having been rebuffed by Washington, China hit back today with its own measure in retaliation for Mr Trump’s announcement earlier this month that the US would put 10 per cent tariffs on $300bn of Chinese imports.
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US toy maker Hasbro has bought the UK-listed owner of Peppa Pig for about £3.3bn.
The deal is the latest in a string of foreign purchases of UK-listed firms and comes days after pub chain Greene King was bought by Hong Kong real estate group CKA for £4.6bn.
Hasbro, maker of Monopoly and My Little Pony, said that the move to buy Entertainment One would “dramatically enhance” its storytelling capabilities.
PA
“While revenue expectations for the first half are broadly in line with previous guidance, the full impact of these items on adjusted EBIT is unclear, but it is likely to be significantly lower than anticipated at the time of the half year trading update on 9 July 2019.”
Google has removed hundreds of YouTube channels for uploading videos in a "coordinated manner" about the ongoing protests in Hong Kong.
The technology giant said 210 channels were disabled in order to protect the integrity of its platform, pointing to Chinese attempts to spread disinformation and manipulate the pro-democracy protests.
The move comes just days after Facebook and Twitter removed accounts linked to China that were being used to undermine the protests.
"It is unacceptable that some banks aren't providing PPI reminders - or are sending inaccurate ones - eight years after our order came into force. The legally binding directions we've issued today will make sure that both RBS and Santander now play by the rules.
"These are serious issues that, in the future, may result in fines if the Government gives us the powers we've asked for."For now, we expect RBS to repay all affected customers quickly, and for both RBS and Santander to make sure that similar breaches do not happen again."
• identify themselves as a claims management company
• prominently state if a claim can be made to a statutory ombudsman / compensation scheme without using a CMC and without incurring a fee
• include prominent information relating to fees and termination fees which the customer may have to pay if a firm uses the term ‘no win, no fee’ or a term with similar meaning
Harland & Wolff employed 30,000 people at its height but the workforce has since shrunk to just 125.
Remaining workers at the historic business have occupied the site for nearly four weeks.
On Friday morning, accountancy firm BDO NI said:
"There has been a healthy level of interest with regard to purchasing the business, assets and safeguarding the existing jobs since the commencement of the administration process.
"This has resulted in a number of non-binding offers for the business, assets and employees on a going concern basis.
"There are also other interested parties who are in constructive discussions with the administrators which may result in further offers.
"The administrators, along with the unions and employees, have extended the unpaid temporary lay-off position beyond the 16th August 2019 to 30th September 2019 to allow additional time to seek to complete a sale of the business.
"The administrators and the limited retained team of workers at Harland and Wolff will continue to work with all interested parties and bidders as they undertake further financial and legal due diligence work in the coming weeks as every effort is made to secure a going concern sale."
Hong Kong protests could trigger global recession, warns Harvard economist
Reiss delivers soaring sales
Upmarket fashion retailer Reiss has shrugged off the high street downturn to deliver soaring sales over the first half of the year.
The British brand, which is a favourite of the Duchess of Cambridge, saw total group sales jump 23.7 per cent to £102.9m in the 26-week period to 3 August.
Reiss was launched in 1971 and has grown to operate 208 stores across 17 countries.
Press Association
Ryanair named worst brand for customer service
China has increased tariffs on around $75bn of US imports in retaliation for Donald Trump’s tariff rises, in a further escalation of trade tensions that risks tipping the world economy into recession.
Tariffs of 10 per cent and 5 per cent on two tranches of goods will come into effect on 1 September, China’s official Xinhua News Agency said
The move appears to be in direct retaliation to Mr Trump’s announcement earlier this month that the US would put 10 per cent tariffs on $300bn of Chinese imports.
“It is with a heavy heart that I announce the passing of my brother David.”
“Anyone who worked with David surely experienced his giant personality and passion for life. Twenty-seven years ago, David was diagnosed with advanced prostate cancer and given a grim prognosis of a few years to live,” the statement continued.“David liked to say that a combination of brilliant doctors, state-of-the-art medications and his own stubbornness kept the cancer at bay. We can all be grateful that it did, because he was able to touch so many more lives as a result.”
David Koch death: Billionaire businessman and one of world's richest people dies, reports say
Investors in Kevin McCloud's eco-homes business face heavy losses
Small investors who have sunk millions of pounds into the eco-friendly building business of Kevin McCloud, one of Britain’s favourite property show presenters, have been told they could lose up to 97 per cent of their money, The Guardian has reported.
Mr McCloud, who has presented Channel 4’s Grand Designs for two decades, has promised investors returns of up to 9 per cent a year from his Happiness Architecture Beauty (HAB) companies.
But this week those who bought £2.4m worth of HAB mini-bonds in January 2017 were informed they would lose 74 per cent of their money in the best case or 97 per cent in the worst case.
‘Betrayed’ investors in Kevin McCloud’s eco housing business told they could lose most of their money
Trade policy uncertainty seems to be playing a role in the global slowdown and in weak manufacturing and capital spending in the United States.
