DoJ says it will not ask US supreme court to rehear tariffs case despite president’s complaint on Truth Social
The Trump administration said refunds of tariffs struck down by the US supreme court “will take time”, according to court documents filed by the Department of Justice.
Businesses including FedEx have lined up to demand reimbursement for US tariffs they have paid but that the court last week deemed were imposed illegally, prompting heavy criticism from Donald Trump.
Continue reading...IAG reports record operating profits on margins of more than 15% at British Airways and sister airline Iberia
British Airways’ owner, International Airlines Group, has announced a sharp rise in annual profits to almost £4bn despite a slight fall in passenger numbers in 2025.
Pre-tax profits across IAG increased by 20% to €4.5bn (£3.9bn), with record operating profits on margins of more than 15% at BA and its sister airline Iberia.
Continue reading...Purbeck Capital Partners seals deal for business and property rights of toy with model railway maker
For almost six decades Hornby has watched Scalextric drive revenues for its hobby business but on Friday the company said it had decided to sell the famous slot car racing brand for £20m to a little known buyer.
The model railway company, which also sells toy planes and cars under the Airfix and Corgi brands, has sold the Scalextric business and intellectual property rights to Purbeck Capital Partners.
Continue reading...Purbeck Capital Partners seals deal for business and property rights of toy with model railway maker
For almost six decades Hornby has watched Scalextric drive revenues for its hobby business but on Friday the company said it had decided to sell the famous slot car racing brand for £20m to a little known buyer.
The model railway company, which also sells toy planes and cars under the Airfix and Corgi brands, has sold the Scalextric business and intellectual property rights to Purbeck Capital Partners.
Continue reading...Households on a default dual-fuel tariff in Great Britain could cut costs by moving to a fixed deal
Experts have told households whose energy bills are pegged to the price cap not to “rest on their laurels” as they could save more than £200 a year on a fixed deal.
This week, Ofgem said the price cap in Great Britain would drop by 7% from April. This usually only matters if you are on a default tariff, but this time the reduction applies to everyone because the government is removing green charges from bills.
Continue reading...Firm’s automated warehouses are struggling to compete against swift deliveries from stores by bike riders
Only six years ago, the boss of Ocado Group was writing the obituary for supermarkets as he predicted that a surge in online grocery shopping during the pandemic had brought forward the hi-tech future.
“Not every store will disappear, but there will be a dramatic shift,” Tim Steiner said at the height of the Covid pandemic, when shopping from the sofa became the only option for many.
Continue reading...Major restructure by retail technology business will lead to reduction of about 5% of global workforce
Ocado is to cut 1,000 jobs as the retail technology business attempts to slash costs by £150m in a major restructure.
The group confirmed about 5% of its global workforce is being cut, with about two-thirds of the job losses affecting its UK operations.
Continue reading...Drinks maker cuts annual sale and profit forecast for second time in four months amid weak demand in US and China
Diageo has slashed its dividend and cut its annual sales and profit forecast for the second time in four months, as the maker of Guinness warned of capacity constraints affecting drinkers of “the black stuff” in London pubs.
The world’s largest spirits maker – which owns brands including Smirnoff vodka, Johnnie Walker whisky and Don Julio tequila – reported weak demand in the US and China in the first results released under the new chief executive, Sir Dave Lewis.
Continue reading...Talks reportedly focused on assets of owner Jim Ratcliffe’s vinyls business Inovyn as group scrambles to cut costs
The chemicals empire owned by the billionaire Jim Ratcliffe is in talks to sell parts of the business in the hope of raising hundreds of millions of pounds to tackle its rising debts, according to a report.
The talks are at an early stage but have focused on selling assets from Ratcliffe’s vinyls business, Ineos Inovyn, the Financial Times said, citing people familiar with the matter.
Continue reading...As the drama shows, private firms no longer able to pollute the coast of England of Wales just switched to rivers instead
There is a moment in Channel 4’s drama Dirty Business when Julie Maughan holds the body of her dead child and lets out an anguished cry. It is as brutal as it is compelling.
Her eight-year-old daughter Heather had just died in hospital, two weeks after playing in the sea on the beach at Dawlish Warren in Devon, where she contracted E coli O157, a bug which comes from raw sewage. She became ill with diarrhoea and blood loss. Transferred to Bristol children’s hospital, her parents agreed to switch off her life-support machine after she suffered kidney failure and brain damage.
Continue reading...US president calls for removal of Susan Rice as streaming platform pursues takeover of Warner Bros Discovery
Donald Trump has told Netflix to remove the Democratic foreign policy expert Susan Rice from its board or “face the consequences”, while the streaming platform is locked in an extraordinary corporate battle to take control of Warner Bros Discovery (WBD).
In comments posted on his Truth Social platform, the US president described Rice – who served as national security adviser to Barack Obama and UN ambassador and White House adviser under Joe Biden – as a “political hack” and accused her of having “no talent or skills”.
Continue reading...The trade minister, Don Farrell, says Australia has ‘consistently advocated’ against the ‘unjustified tariffs’, after the US president announced new levies
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Australia will “examine all options” after the US president Donald Trump announced a temporary 15% tariff would apply to US imports from all countries.
The US president’s move came less than 24 hours after the US supreme court overturned his original 10% import tariff. Shortly after the ruling, Trump announced he was reinstating the 10% duties using a different law before raising it again to 15%.
Continue reading...The home affairs minister says the One Nation leader was frustrated with the Muslim community because it ‘didn’t give her what she wanted’. Follow live updates
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Police investigating the mistaken kidnapping of grandfather Chris Baghsarian are appealing for information about suspicious car fires that could be related to the case, AAP reports.
Hopes are fading of finding the 85-year-old alive, who was taken captive more than a week ago when three men stormed his Sydney home and bundled him into an SUV.
Continue reading...President announced increase from 10% using different authority from mechanism that supreme court struck down on Friday
Donald Trump announced on Saturday that he would raise a temporary tariff rate on US imports from all countries from 10% to 15%, less than 24 hours after the US supreme court ruled against the legality of his flagship trade policy.
Infuriated by the high court’s ruling on Friday that he had exceeded his authority and should have got congressional approval for the tariffs he introduced last year under the International Emergency Economic Powers Act (IEEPA), the US president railed against the justices who struck down his use of tariffs – calling them a “disgrace to the nation” – and ordered an immediate 10% tariff on all imports, in addition to any existing levies, under a separate law.
Continue reading...Labour MPs may clamour for bolder spending, but – like their Tory and Reform counterparts – they ask for the unaffordable
Too many Labour MPs want it all, and no amount of pleading from the top of government about the depleted public finances seems to make a difference.
The mainly leftist MPs want all the wrongs of the last 15 years put right and quickly. Their next opportunity to demand more cash arrives when Rachel Reeves delivers her spring statement on 3 March.
Continue reading...Document also shows US miner had been unlawfully clearing land for 15 years despite warnings from department
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The Australian government’s decision to allow the US mining giant Alcoa to continue clearing swathes of Western Australian jarrah forest despite past illegal clearing practices was made in part due to a critical minerals deal reached between Australia and the Trump administration last year, a new document shows.
The document also reveals Alcoa was unlawfully clearing land for its bauxite mining practices in the area south of Perth for 15 years, despite warnings from the federal environment department.
Conservationists have expressed outrage that an “unprecedented” $55m penalty announced by the environment minister was only applied to a six-year period in which the illegal clearing was alleged to have occurred.
Murray Watt said on Wednesday that the penalty – known as an enforceable undertaking – was for clearing that occurred from 2019-2025 in known habitat for nationally protected species without an approval under the Environment Protection and Biodiversity Conservation (EPBC) Act.
When announcing the penalty, Watt said he had granted Alcoa a national interest exemption to allow it to continue clearing in the northern jarrah forest for 18 months while the government considered a proposal for an expansion of the company’s Huntly and Willowdale mining operations to 2045.
Continue reading...Police say UK entrepreneur Quentin Griffiths fell from 17th floor of an 18-floor condominium on 9 February
Quentin Griffiths, the co-founder of the online fashion retailer Asos, has died after falling from an apartment building in the Thai seaside resort city of Pattaya.
Police told Reuters that the 58-year-old had fallen from the 17th floor of an 18-storey condominium on 9 February.
Continue reading...Struggling British carmaker says earnings for 2025 will be worse than City forecasts as US tariffs hit sales
Aston Martin has warned that its losses will be worse than expected and sold its permanent naming rights to its Formula One team, as the struggling British carmaker battles to stabilise its finances.
The luxury carmaker, majority-owned by the Canadian billionaire Lawrence Stroll, said its earnings for 2025 would be worse than City forecasts, its fifth profit warning since September 2024.
Continue reading...French utility company EDF says operations in Somerset will start a year later as delay costs firm €2.5bn
Britain’s first new nuclear plant in a generation at the Hinkley Point C site will face further delay, at a cost of €2.5bn to the French utility company EDF.
EDF said the first reactor at the site in Somerset will begin operations in 2030, a year later than planned – almost 13 years after construction work began – after a series of delays to the project.
Continue reading...January increase of 1.8% beats forecasts and was also driven by shoppers snapping up jewellery online
Retail sales in Great Britain rose 1.8% in January, the largest monthly increase in almost two years, according to official data, as heavy discounting and post-Christmas sales drew consumers back to bigger ticket purchases.
The rise easily beat forecasts of a 0.2% rise and was partly driven by sales of artwork and antiques sales in January, alongside continued strong sales from online jewellers, the Office for National Statistics (ONS) said. It was the biggest monthly rise since May 2024.
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