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Bessent says Argentina peso bet was homerun deal
US Treasury Secretary Scott Bessent said his risky US gamble on Argentina’s currency has paid off. Bessent said American financial support had been repaid and the US no longer held any Argentine pesos in its exchange stabilisation fund. The US had purchased the then-plunging currency last year in an effort to stave off further turmoil…
Three things weve learnt about the UK economy from the IMF
There is increased concern about how much money countries are borrowing, but the IMF said the UK is doing better than all other major economies at this. The IMF said the UK “basically stands out, along with India” when it comes to addressing the problem and by 2031 it is projected to have the lowest…
Claires and The Original Factory Shop enter administration
High street retailers Claire’s and The Original Factory Shop are being put into administration, risking 2,500 jobs. It comes amid a turbulent time for Claire’s, popular with tweens for its brightly coloured accessories, which was seeking a buyer after its US owner filed for bankruptcy last year. Modella Capital, which owns both chains, said the…
Ex-New York Times writer Bari Weiss to lead CBS after Paramount deal
Getty Images Paramount has named former New York Times opinion writer Bari Weiss to lead CBS News, in the latest move by new owners to reshape operations of one of America’s leading news organisations. Paramount is also buying The Free Press, the digital outlet Weiss started after her acrimonious departure from the New York Times,…
Car finance scandal: Payouts of £700 per driver under compensation plans
Millions of victims of car finance mis-selling could receive less compensation than previously estimated, under plans from the regulator. The Financial Conduct Authority (FCA) said payouts could result from 14 million motor finance agreements between April 2007 and November 2024. The regulator previously suggested motorists could receive less than £950 per deal, but it now…
Sheffield’s Baby Basics UK opens bigger premises to meet demand
A baby bank which supports families with vulnerable children has moved to a bigger premises to help meet demand for its services. Baby Basics UK, which provides practical essentials to families with children up to five years old, has moved to Albion House in Savile Street, Sheffield. Since 2019 it said demand for help had…
