Business

UK retailers are being “raided like a piggy bank”, the boss of Marks & Spencer has said, as the sector faces rising taxes. Writing in the Sunday Times, Stuart Machin said retailers were facing a series of headwinds, including the increase in National Insurance Contributions (NICs) paid by firms and higher packaging levies. He called…

President Donald Trump has said he will announce a 25% import tax on all steel and aluminium entering the US, a move that will have the biggest impact in Canada. Trump also said that there would be an announcement later in the week about reciprocal tariffs on all countries that tax imports from the US,…

When Donald Trump’s fortunes took a downturn in the 90s and he needed to raise cash fast, he sailed his 282ft (85m) superyacht, the Trump Princess, to Asia hoping he could attract Japan’s wealthy. It wasn’t the first time the businessman had sought out Japanese buyers or lenders for his projects. In the cut-throat world…

Incoming first lady Melania Trump has launched a cryptocurrency on the eve of her husband’s inauguration as US president. The announcement comes after President-elect Donald Trump launched the $Trump cryptocurrency. Both coins have risen but have seen volatile trade. “The Official Melania Meme is live! You can buy $MELANIA now,” she posted on the social platform X on…

The US markets watchdog has filed a lawsuit against Elon Musk alleging he failed to disclose that he had amassed a stake in Twitter, allowing him to buy shares at “artificially low prices.” The Securities and Exchange Commission (SEC) lawsuit alleges that the multi-billionaire Tesla boss saved $150m (£123m) in share purchases as a result. According to…

TikTok will appear before the US Supreme Court on Friday in a last-ditch effort to overturn a ban, in a case testing the limits of national security and free speech. The popular social media platform is challenging a law passed last year ordering the firm to be split from its Chinese owner or be blocked…

At the time, he was selling special programming to hotels through his Teleguide service, while cable television was taking off in rural areas. In 1964 Dolan made a deal with New York to wire some Manhattan buildings with cable and a few years later, hoping to attract viewers, he made a deal to show the…

Sipping a glass of local wine is likely not what springs to mind when visiting Scandinavia, but this colder, northerly region is emerging as a new wine frontier. Hundreds of commercial vineyards are now dotted across Denmark, Sweden, and even Norway, as a first generation of professional winemakers transform what was once a niche hobby into a…

Donald Trump stood on Wall Street on Thursday, a euphoric crowd of America’s business elite assembled before him, and hammered the bell to kick off morning stock market trading. The mood was celebratory. Not only had the president-elect just been named Time person of the year, but the stock market, already up strongly, has surged to…

Shares in US chocolate maker Hershey have jumped by more than 10% after a report that Mondelez International, which owns UK-based Cadbury, has approached the firm about a potential buyout. A deal could create a snack food giant with combined sales of almost $50bn (£39.2bn) a year. Both Mondelez and Hershey declined to comment on…