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Europe's India and Vietnam deals signal a historic shift away from coercion towards cooperation that respects developing countries' sovereignty For the European Commission president, Ursula von der Leyen, the EU's trade pact with India was the “mother of all deals”. Seen from the other end of the telescope, it looked like the mouse of all deals, with just €4bn (£3.5bn) in tariff reductions – a rounding error in a €180bn trading relationship. But that misses the point: this is about economic heavyweights resetting the terms of their cooperation because of Donald Trump's use of tariffs as a tool of economic and political compulsion.Last week marked a turning point. In upgrading ties with Vietnam in the wake of its India deal, Europe is no longer trying to lock Asian partners into fixed industrial roles. The EU wants Hanoi to move into hi-tech production. That shift will probably displace Vietnam's labour-intensive manufacturing elsewhere. India is an obvious beneficiary, able to absorb that ...

Airports identified as biggest winners of government's £4.3bn support package with Heathrow alone taking £900m discountStruggling hotels, restaurants and nightclubs are calling for more financial help with business rates after it emerged that Heathrow is among the biggest beneficiaries of a multibillion-pound package of state support.The UK's biggest airport is in line for a discount of nearly £900m on its rates bill over the next three years. That is a fifth of the total £4.3bn “transitional relief” fund announced by the chancellor in the budget for all businesses facing big bill increases. Continue reading......

A lawsuit filed last week alleges tech firm 'can access virtually all' private communications, a claim the company has deniedUS authorities have reportedly investigated claims that Meta can read users' encrypted chats on the WhatsApp messaging platform, which it owns.The reports follow a lawsuit filed last week, which claimed Meta “can access virtually all of WhatsApp users' purportedly 'private' communications”. Continue reading......

Framework Convention on International Tax Cooperation could also force ultra-rich to pay global wealth tax Fossil fuel companies could be forced to pay some of the price of their damage to the climate, and the ultra-rich subjected to a global wealth tax, if new tax rules are agreed under the UN.Negotiations on a planned global tax treaty will resume at the UN headquarters in New York on Monday, with dozens of countries supporting stronger rules that would make polluters pay for the impact of their activities. Continue reading......

Tim Martin makes Sunday Times Tax List top 10, paying £200m while Harry Styles is the highest-contributing celebritySir Tim Martin, Harry Styles, Ed Sheeran, Erling Haaland and Mo Salah are among the UK's 100 biggest taxpayers, according to new rankings.The billionaire brothers behind gambling giant Betfred, topped the Sunday Times 2026 Tax List. Fred and Peter Done paid £400.1m in tax, about half of which relates to gambling duty from their betting shop empire. Continue reading......

These across-the-board raises to all employees versus individual performance-based raises are simply lazyLooking forward to a raise in 2026? You may be getting “peanut butter”.A new report from compensation software and data provider Payscale predicts that in 2026, many employers will be giving “peanut butter raises” to their employees – increases given “across the board” as opposed to being calculated individually based on performance or merit. They're spread evenly, like peanut butter on a slice of bread. Continue reading......

App endured a major outage and user backlash over perceived censorship. Now it's facing an inquiry by the California governor and an ascendant competitorA little more than one week ago, TikTok stepped on to US shores as a naturalized citizen. Ever since, the video app has been fighting for its life.TikTok's calamitous emigration began on 22 January when its Chinese parent company, ByteDance, finalized a deal to sell the app to a group of US investors, among them the business software giant Oracle. The app's time under Chinese ownership had been marked by a meteoric ascent to more than a billion users, which left incumbents such as Instagram looking like the next Myspace. But TikTok's short new life in the US has been less than auspicious. Continue reading......

University researchers say growth of the hidden fast food industry may pose risks to public healthOne in seven food businesses on major delivery platforms, including Deliveroo and Just Eat, is now a “dark kitchen”, a university study shows.The findings, which shine a light on the scale of the hidden takeaway industry, found that 15% of all online food retailers in England were dark kitchens. Continue reading......

CIPS warns of 'cracks' in global supply chain affecting computers, electrical machinery and transport equipmentThe price of consumer goods including computers, electrical machinery and transport equipment could surge this year as a result of soaring shipping costs, an industry body has said, adding that “cracks [are] forming in the global trading system”.The cost of transport, energy and raw materials continues to rise and prices remain volatile, which could feed through to businesses and consumers during 2026, according to a study by the Chartered Institute of Procurement and Supply (CIPS). Continue reading......

Labour's changes to the student loan system have turned frustration into full-blown fury, which its opponents are likely to reap at the ballot boxStudent loans: 'My debt rose £20,000 to £77,000 even though I'm paying'“It is not right that people who don't go to university are having to bear all the cost for others to do so,” Rachel Reeves remarked this week, amid the increasingly angry row about student loans.But if something is “not right” here, it's the complex and confusing loan system, and the debt burden borne by some recent graduates of English and Welsh universities. Continue reading......

About 20 countries including G7 states in talks on rare earths including calls for US to guarantee minimum priceMinisters from the US, EU, UK, Japan, Australia and New Zealand will meet in Washington this week to discuss a strategic alliance over critical minerals.The summit is being seen as a step to repair transatlantic ties fractured by a year of conflict with Donald Trump and pave the way for other alliances to help countries de-risk from China, including one centred on steel. Continue reading......

With a North American licensing deal under its belt, the reinvented high-street giant is growing again under new owners and a global strategyFrench Connection is back on the trail of global expansion with the aid of its cheeky initials-based slogan that made it so popular in the late 1990s.The label once known for clothes bearing FCUK is seeking to reinvent itself again under the ownership of a group of British entrepreneurs based in the north of England who rescued it in 2021. Continue reading......

Bar owners say they struggle to dissuade people from forming a line as behavioural experts point to post-pandemic 'new norms'“I'm not sure what else we can do to be honest,” Paul Loebenberg said, of the people lined up at his bar. “Maybe there's something I've missed, but we've tried everything.”To anybody who frequents pubs and dislikes feeling as if they are waiting at a bank, Loebenberg's exasperation is all too familiar. Continue reading......

Putin critic says plants in China, India and Turkey are funnelling up to $1bn a day to KremlinBill Browder's fight against Vladimir Putin has seen him face threats, lawsuits, false accusations of murder and Interpol arrest warrants. A disinformation-laden film was even made about him.But 16 years after the death of his friend and lawyer Sergei Magnitsky at the hands of Putin's regime, Browder is unrelenting in his fight for justice. It is an endeavour that, by his estimation, has cost Putin and his cronies billions of dollars already, via asset freezes and sanctions. Hence the considerable risk to his safety. Continue reading......

Trump's wounding of the US economy offers Beijing an unparalleled opportunity – if it dials back its overbearing trade tacticsWhen the Canadian prime minister, Mark Carney, took to the podium at the World Economic Forum in Davos last week to lament how “great economic powers” were dismantling the international order, it seemed clear that he was talking about the United States. He might have been talking about China as well.Not a week earlier, Beijing had revealed that China's trade surplus ballooned by 20% in 2025, to $1.2tn. Despite Donald Trump's wall of tariffs that crashed Chinese sales to the US, its overall exports expanded more than 5%. Sales to the 11 countries in Asia's Asean bloc increased more than 13%. Exports to the European Union rose over 8%. Chinese imports, by contrast, were flat. Continue reading......

Earn money and other rewards by linking friends and family up to companies you use, from banks to energy firmsHow much do you love your energy company – enough to recommend it to a friend? How about if £50 was up for grabs?Richard from Suffolk is a customer of Octopus Energy, and now eight of his family and friends are, too, after he recommended the provider to them all through its referral scheme. “I really think [referral schemes] are a good idea. It's an incentive to swap – without it, I think people wouldn't bother switching and would carry on as they were,” he says. Continue reading......

TUC urges ministers to bring forward changes to protect workers amid concerns over apps such as TemperThe fashion retailer Urban Outfitters, the bed specialist Dreams and the operator of several Royal Parks cafes have been criticised for the use of the gig economy app Temper to take on staff – some of whom can end up earning below minimum wage.The TUC is urging the government to bring forward promised reforms to protect gig economy workers amid concerns that those hired by apps such as Temper are missing out on significant employment rights including sick pay, rest breaks, holiday pay and a minimum hourly rate. Continue reading......

City of London Corporation accused of lack of transparency in retendering process that handed contracts to Daisy GreenA couple who run three cafes at north London beauty spots including Hampstead Heath and Queen's Park have claimed a small victory in their battle to overturn the decision by their landlord, the City of London Corporation, to evict them.Patrick Matthews and Emma Fernandez have run the cafes at Parliament Hill Lido, Queen's Park and Highgate Wood for several years, but were told just before Christmas they had been unsuccessful in a retendering process. Continue reading......

The brutal handling of immigration raids and the killing of Alex Pretti have tested the reticence of the corporate classDuring Donald Trump's first term, the US's corporate titans were prepared to literally turn their backs on the president when they disagreed with them. Weeks of growing national anger over deadly immigration crackdowns in the US have highlighted how much has changed.Publicly, the US's top CEOs have stayed – mostly – quiet during Trump's second term, even as his administration has undermined free trade policies, cracked down on the immigration that many businesses relied on, and attacked the Federal Reserve – a pillar of the US's financial hegemony. Continue reading......

Hundreds of claims still arriving each month, raising fears eligible operators will lose out on redressThe Post Office is to close the largest compensation scheme for post office operators affected by the Horizon scandal this weekend, leaving potentially thousands of claimants out of pocket for losses produced by the faulty IT system.The Horizon Shortfall Scheme (HSS), which will close for new applicants at 11.59pm on Saturday, has received more than 9,500 submissions, according to the latest public data to 19 December. Continue reading......