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New trade deal imposes 15% cap on most EU exports. The United States and European Union have signed a tariff framework capping most duties at 15%, exempting select sectors and outlining reciprocal measures in energy, agriculture and investment. The provisional pact leaves several disputes unresolved, with legislative steps still pending.
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Government steps in to administer solvent special steelworks after collapse. Ministers are acting to safeguard 1,450 jobs and preserve South Yorkshire’s industrial capacity after Speciality Steel UK, the country’s third-largest steelmaker, was declared hopelessly insolvent and placed under administration.
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Rachel Reeves may extend the freeze on income tax thresholds. Such a move could increase the tax burden on high earners and draw more individuals into higher tax brackets. Analysts predict potential tax rises to address fiscal challenges.
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Marks & Spencer invests £340m in new fully automated hub. The fully automated site, opening in 2029, will span 1.3 million sq ft, create 3,000 jobs across construction and operation, and support the retailer’s ambition to double its food business while meeting top-tier sustainability standards.
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The “One Big, Beautiful Bill Act” impacts energy industry regulations. The act mandates new oil and gas lease sales, introduces prohibited foreign entity rules, and modifies tax credits, affecting energy companies’ strategies and compliance efforts….
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WH Smith shares fall after accounting error impacts profits. The retailer revealed a £30m profit overstatement in its North America division, reducing expected profits. Shares dropped 30% following the announcement, marking a challenging period for the company.
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Europe is losing climate ground, warns the bloc’s first commissioner. Former EU climate chief Connie Hedegaard has warned that political and corporate complacency is eroding the European Union’s environmental leadership. Her remarks follow a series of policy rollbacks and investor concerns over the credibility of Europe’s net zero transition.
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Reeves gets boost from lower-than-expected borrowing in July. Borrowing reached £1.1bn, £2.3bn less than last year. The Office for Budget Responsibility warns of potential future debt increases, raising concerns over fiscal sustainability.
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Databricks secures new funding round, boosting valuation above $100bn. The data and AI firm plans to use the capital for AI development, international expansion, and strategic acquisitions, following its recent $10bn funding. Databricks opened its European HQ in London last year.
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Google partners with Kairos Power and TVA on nuclear energy. The collaboration aims to supply Google’s data centres with clean energy, boosting the Hermes 2 plant’s output to 50 MW. This initiative supports Google’s target of 500 MW by 2035….