Category Archives: Business

UK regulator fines 10 carmakers and two trade bodies over green ad collusion

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CMA found car firms chose not to compete when advertising what percentage of their vehicles could be recycled

Ten leading car manufacturers – plus two automotive trade bodies – have been fined more than £77m by a UK regulator after admitting breaking competition law in relation to advertising their green credentials.

The Competition and Markets Authority (CMA) launched an investigation after a tipoff from Mercedes-Benz, which allowed the German marque to avoid financial penalties despite also being involved in the cartel.

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Starmer dismisses claims he’s been ‘played’ by Trump, and says future trade deal could lessen impact of tariffs – UK politics live

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Starmer said that a future trade deal with the US might lead to the UK getting some exemptions from the tariffs

Richard Hughes, chair of the Office for Budget Responsibility, is giving evidence to the Treasury committee. There is a live feed here.

Hughes started by telling the committee that he wrote to the chancellor earlier this year to say that, when his five-year term ends later this year, he would like to have a second term in office.

We are of course negotiating an economic deal which will, I hope … mitigate the tariffs.

The US is our closest ally. Our defence, our security, our intelligence are bound up in a way that no two other countries are.

So it’s obviously in our national interest to have a close working relationship with the US, which we’ve had for decades, and I want to ensure we have for decades to come.

We are obviously working with the sectors most impacted at pace on that.

Nobody wants to see a trade war but I have to act in the national interests.

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Hooters restaurant chain files for bankruptcy protection

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Founded in 1983, the restaurant known for waitresses in skimpy outfits has run into financial difficulties lately

Hooters, the US-based restaurant chain known for chicken wings and skimpy waitstaff outfits, has filed for bankruptcy protection.

HOA Restaurant Group filed the motion for chapter 11 protection Monday in the north Texas bankruptcy court in Dallas.

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Wild co-founders ‘land £100m’ from sale of natural deodorant maker

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Childhood friends sell upmarket brand to Unilever, the maker of Dove soap, Axe deodorant and Marmite

A pair of UK entrepreneurs selling refillable deodorant cases and manuka honey lip balms made from natural ingredients have reportedly landed a near-£100m payday from the sale of their brand to the global consumer goods group Unilever.

Wild, founded by childhood friends Freddy Ward and Charlie Bowes-Lyon, has been bought by Unilever, the maker of Dove soap, Axe deodorant and Marmite.

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Large majority of Europeans support retaliatory tariffs against US, poll finds

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Survey shows between 56% and 79% across seven countries in favour if Trump introduces ‘Liberation Day’ levies

A large majority of western Europeans support retaliatory tariffs against the US, a survey has suggested, if Donald Trump introduces sweeping import duties for major trading partners as expected this week.

The US president appears likely to unleash a range of tariffs, varying from country to country, on Wednesday, which he has called Liberation Day. He also said last week that a 25% levy on cars shipped to the US would come into force the next day.

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Trump prepares to unveil reciprocal tariffs as markets brace amid trade war fears

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President promises he will be ‘very kind’ but critics warn his strategy risks triggering chain reaction and global trade war

As Donald Trump prepared to unveil a swathe of reciprocal tariffs, global markets braced and some Republican senators voiced their opposition to a strategy that critics warn risks a global trade war, provoking retaliation by major trading partners such as China, Canada and the European Union.

The US president said on Monday he would be “very kind” to trading partners when he unveils further tariffs this week, potentially as early as Tuesday night.

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Australian house prices hit new peak as rate cut drives buyer demand

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Tougher conditions for first home buyers – and renters, who are now often spending more than those with mortgages

National home prices hit a new peak in March as February’s rate cut reignited buyer demand, according to separate reports from Australia’s leading property analytics companies.

Property values increased 0.4% over the month – the second consecutive month of growth in the national index, CoreLogic reported, after a brief three-month decline where values dipped 0.5%.

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Politicians criticise US efforts to make EU firms reverse diversity initiatives

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Officials in France and Belgium hit out at ‘American interference’ amid growing transatlantic tensions

Officials in France and Belgium have hit back at American efforts to impose Donald Trump’s rollback of diversity measures on Europe, which in the US has seen Disney put under investigation.

Several companies across the EU have in recent days reportedly received letters informing them that the Trump administration’s crackdown on diversity, equity and inclusion initiatives also applies to firms around the world looking to do business with the US government.

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Advertising giant WPP cuts diversity references from annual report

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Owner of Ogilvy and Grey agencies follows other multinationals in dropping or downplaying DEI policies since Trump’s election

The British advertising giant WPP has become the latest company to cut the phrase “diversity, equity and inclusion” from its annual report as the policies come under attack from the Trump administration.

The agency, which counts the US as by far its largest market, boasts the storied “Madison Avenue” agencies J Walter Thompson, Ogilvy and Grey among its top brands.

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Turkish opposition leader calls for weekly rallies and deeper economic boycott

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Özgür Özel expanded call to boycott companies perceived as close to President Recep Tayyip Erdoğan

Turkey’s anti-government protesters are weighing their options, amid calls by the main opposition leader for weekly rallies, a growing economic boycott and a groundswell of fired-up student demonstrators determined to stay on the streets.

The leader of the Republican People’s Party (CHP), Özgür Özel, expanded a call to boycott goods and services from companies perceived as close to the president, Recep Tayyip Erdoğan, during a rally in support of the jailed Istanbul mayor, Ekrem İmamoğlu.

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Super fund took more than 500 days to approve death benefit for grieving widow, Asic says

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Landmark report makes 34 recommendations to overhaul the superannuation sector, citing delays, poor customer service and ineffective procedures

An unnamed superannuation fund took more than 500 days to approve a death benefit payment to an Indigenous woman grieving the loss of her husband and ignored her concerns about financial hardship and a confusing claims process.

The “distressing” case has been highlighted by the financial regulator as one of many “poor industry practices” by funds that have had “devastating impacts” on members experiencing “deep grief, vulnerability, frustration and genuine suffering”.

A “landmark” report released by the Australian Securities and Investments Commission (Asic) on Monday has made 34 recommendations to overhaul the superannuation sector. The report investigated the conduct of 10 trustees, which are responsible for 38% of all member benefits in Australia.

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Le boycott: French customers shun McDonald’s, Coca Cola and Tesla to protest against Trump

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France has been urged to shun Maga America as #BoycottUSA hashtag spreads, but teenagers say they can’t afford to join the action

On the rainy Grands Boulevards in Paris on Friday, the branches of McDonald’s and KFC were doing brisk business.

There was little sign of “le boycott” – a movement among French customers to reject American brands and products made in the US, in protest at Donald Trump’s trade tariffs and anti-Europe rhetoric.

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Italian PM calls for ‘reasoned’ approach to escalating tariff war between EU and US

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Giorgia Meloni says it is her responsibility to defend transatlantic unity in face of looming US levies

Italy’s prime minister, Giorgia Meloni, has called for a “reasoned” approach to an escalating tariff war between the EU and the US and repeated the importance of transatlantic unity.

The US president, Donald Trump, has announced sweeping tariffs on his country’s allies and adversaries, including a 25% levy on car imports starting next week, and a 200% tariff on champagne, wine and other alcoholic drinks from the EU.

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Hyundai facing legal action over car that can be stolen ‘effortlessly in seconds’

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Elliott Ingram was stunned at how a thief made off with his Ioniq 5 deploying a device to mimic the smart key – and says he should have been warned

The motor manufacturer Hyundai faces legal action over allegations it failed to warn its customers that one of its most popular models of electric cars could be stolen “effortlessly in seconds”. Elliott Ingram, an expert in digital security, was stunned when a CCTV camera installed at his home recorded a hooded thief stealing his Hyundai Ioniq 5 car in less than 20 seconds.

The thief is believed to have used a device, available online, to mimic the car’s electronic key. It is the latest in a spate of thefts involving the vehicle, and many owners now resort to a steering lock. Ingram’s car was later recovered by police, but he is terminating the lease and seeking compensation from the motor company. He says the South Korean car giant should have alerted customers to the security vulnerabilities.

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FCC to investigate Disney and ABC over potential violation in diversity practices

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Federal Communications Commission says its DEI efforts may breach equal employment opportunity regulations

The US’s top media regulator on Friday said it was opening an investigation into the diversity practices of Walt Disney and its ABC unit, saying they may violate equal employment opportunity regulations.

Brendan Carr, the Federal Communications Commission (FCC) chair, wrote to the Disney CEO, Robert Iger, in a letter dated on Thursday that the company’s diversity, equity and inclusion (DEI) efforts may not have complied with FCC regulations and that changes by the company may not go far enough.

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UK ministers need to ask why they are offered freebies – and who loses out

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Firms who wine and dine officials may gain a seat at the policymaking table while the third sector is squeezed out

Ministers from Keir Starmer downwards have sometimes seemed perplexed about what they see as the fuss made over their acceptance of hospitality in the last nine months.

From their point of view, free tickets to concerts and sporting events are a paltry form of compensation for the disruption to their private lives that comes from being a frontline politician.

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Canadian company in negotiations with Trump to mine seabed

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Environmentalists call bid to skirt UN treaty ‘reckless’ amid fears that mining will cause irreversible loss of biodiversity

A Canadian deep-sea mining firm has revealed it has been negotiating with the Trump administration to bypass a UN treaty and potentially gain authorisation from the US to mine in international waters.

The revelation has stunned environmentalists, who condemned the move as “reckless” and a “slap in the face for multilateralism”.

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Heathrow boss: better power supply to avoid outage repeat could cost £1bn

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Airlines could face higher charges to help fund new system at airport, which was shut down by substation fire

The chief executive of Heathrow has said it could cost about £1bn to install a more resilient power supply system to prevent a repeat of the outage that shut Europe’s busiest airport last week, and that airlines could pay higher charges to help fund it.

Thomas Woldbye, who has been criticised for going to bed on the night of the crisis so he could be “better rested” to handle the fallout the following day, has said he was frustrated the incident occurred and would like to have handled it better.

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WH Smith name to disappear from high street in agreed £76m sale to Modella

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Under terms of deal with Hobbycraft owner, 233-year-old brand will become TGJones

WH Smith is to sell its 480 retail stores to the Hobbycraft owner, Modella Capital, in a deal worth £76m, and has confirmed that the 233-year-old brand will disappear from the high street after a “short transitional period”.

Under the terms of the deal, the high street business, which employs 5,000 staff, will be rebranded as TGJones. WH Smith is retaining its brand for its travel shops.

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End of an era for Canada-US ties, says Carney, as allies worldwide decry Trump’s car tariffs

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Canadian PM says Donald Trump has permanently altered relations, as countries around the globe insist import taxes are harmful to all, including Washington

Canada’s prime minister has said the era of deep ties with the US “is over”, as governments from Tokyo to Berlin to Paris sharply criticised Donald Trump’s sweeping tariffs on car imports, with some threatening retaliatory action.

Mark Carney warned Canadians that Trump had permanently altered relations and that, regardless of any future trade deals, there would be “no turning back”.

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