Author: Arabian Media staff

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldThe US will impose a tariff of 35 per cent on Canadian goods from August 1, Donald Trump said in a letter late on Thursday. The US president separately told NBC News on Thursday that any countries that had not received a letter from him setting out new tariff regimes would face so-called blanket tariffs of 15-20 per cent.“We’re just going to say all of the remaining countries are going to pay, whether it’s 20 per cent or 15 per…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Britain’s public spending watchdog has warned of “shortcomings” in the country’s F-35 fighter jet programme, with delays, low pilot flying hours and personnel shortages undermining the fleet’s effectiveness. The 37-strong fleet last year met only one-third of the Ministry of Defence’s target to perform all required missions, the National Audit Office said on Friday. Plans to equip the aircraft with important weapons, including UK-developed missiles, have been pushed back until the 2030s, it noted.The “combined shortcomings of the global and UK F-35 stealth…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Heathrow airport has asked regulators to approve a 17 per cent increase in landing charges to pay for a £10bn investment programme that it promises will take the airport’s annual capacity to 92mn passengers. Heathrow said the average landing charge over the next five-year period would increase to about £33.26 per passenger, up from the current average of £28.46 per passenger. The airport said the proposed levy was lower in real terms than it was a decade ago.The request is likely to be…

This article is an on-site version of our FirstFT newsletter. Subscribers can sign up to our Asia, Europe/Africa or Americas edition to get the newsletter delivered every weekday morning. Explore all of our newsletters hereGood morning, happy Friday and welcome back to FirstFT Asia. In today’s newsletter: Dimon’s blunt message to EuropeHow heatwaves are boosting Uniqlo’s profitsThe Fed’s independence under threatJPMorgan Chase chief executive Jamie Dimon warned European leaders they have a competitiveness problem and that they are currently “losing” the battle to rival the US and China. Dimon on EU competitiveness: “Europe has gone from 90 per cent US…

Analysts see paths to more milestones for Nvidia after the stock closed at a $4 trillion market capitalization for the first time Thursday. Source link

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Two of Boston Consulting Group’s senior executives will leave their leadership roles in the wake of revelations about the firm’s work in Gaza, according to people familiar with the matter.Adam Farber, chief risk officer, and Rich Hutchinson, head of BCG’s social impact practice, will lose those jobs following the results of an internal investigation, the firm’s partners have been told.They would remain at BCG in client-facing roles, the people said. BCG declined to comment.The two men were named in a Financial Times…

Amazon’s Prime Day event has grown to four days, but some signs point to a lack of consumer enthusiasm this year. Source link

The company reported results as it looks to offer more denim offerings than jeans and focuses on selling through its own stores. Source link

Economists have been expressing alarm over U.S. President Donald Trump’s plan to hit Brazil with a 50% tariff on Aug. 1 — the largest country-specific levy out of the 22 that Trump has rolled out this week. Source link

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldBrazil’s leftwing president is standing firm against Donald Trump’s 50 per cent tariff threat, as Luiz Inácio Lula da Silva seizes the confrontation with Washington to revive his re-election prospects. After the US president jolted Brazil on Wednesday with a letter citing political justifications for imposing supercharged duties, Lula immediately promised to retaliate, saying his nation “would not be tutored by anyone”. The foreign ministry also summoned the acting US ambassador and returned Trump’s “insulting” tariff letter to him. Brasília…