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River Island allowed to shut shops to stave off collapse
Posted onRachel Clun Business reporter, BBC News Getty Images River Island has been given the green light to close 33 stores across the UK after the High Court approved the fashion retailer’s restructuring plans. The High Street brand said a customer shift towards online shopping and higher operating costs had contributed to multi-million pound losses. It…
EES: Stop pretending EUs new border system is working, says airports chief
Posted on“We urgently need full flexibility for border control authorities to suspend the EES whenever needed to avoid further chaos – along with a rethink of those processes,” Schulte said. “This is about showing respect and decency for those who chose to travel to the EU, and safeguarding our reputation as a welcoming and efficient destination.”…
Trump raises US tariffs on South Korea imports to 25%
Posted onUS President Donald Trump has announced he is raising tariffs on South Korean imports to 25% after accusing Seoul of “not living up” to a trade deal reached last year. In a post on social media, Trump said he would increase levies on South Korea from 15% across a range of products including automobiles, lumber,…
OBR chair Richard Hughes resigns over Budget day publishing error
Posted onArchie Mitchelland Rachel Clun,Business reporters BBC/House of Commons Richard Hughes said he took “full responsibility” for the shortcomings identified in the report; Rachel Reeves thanked him for his service The chairman of the Office for Budget Responsibility (OBR) has resigned following the Budget day error which saw a key document published early. Richard Hughes said…
Asia stocks slide as US and Iran threaten to intensify war
Posted on“If Iran doesn’t FULLY OPEN, WITHOUT THREAT, the Strait of Hormuz, within 48 HOURS from this exact point in time, the United States of America will hit and obliterate their various POWER PLANTS, STARTING WITH THE BIGGEST ONE FIRST!,” Trump said in a social media post published at 23:44 GMT Saturday.
