Author: Arabian Media staff
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Online retailers Temu and Shein have seen their once rapid user growth go into reverse in the US after President Donald Trump imposed steep tariffs on Chinese goods and closed a tax loophole that allowed them to undercut rivals.Temu’s monthly active users, a measure of engagement on its app, plunged by 51 per cent to 40.2mn in the US between March and June, according to data from market intelligence firm Sensor Tower.The number of US shoppers using Shein’s app also shrank over…
Donald Trump’s erratic tariff policies combined with low river levels are causing Europe’s worst supply chain congestion since the coronavirus pandemic, shipping and logistics companies warn.Barges have been left waiting days to pick up goods and container ships have faced long waits, with the problems — worst at the ports of Rotterdam, Antwerp and Hamburg — expected to persist for at least several months.“All the large hubs are overflowing,” said Caesar Luikenaar, managing director of WEC Lines, a Netherlands-based shipping company. A number of important ports across Europe were operating at their maximum capacity, Luikenaar said.Albert van Ommen, chief executive…
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 hereToday’s agenda: Canada scraps tech tax; China’s rare earth curbs; European port congestion; Iran’s existential moment; and Russia’s teen spiesGood morning. We start the week on Capitol Hill, where Donald Trump’s “big, beautiful bill” is being debated. Here’s what we know.Current situation: Republican lawmakers are struggling to find the votes to pass the US president’s landmark tax and spending bill after barely gathering enough support to…
Stay informed with free updatesSimply sign up to the Chinese trade myFT Digest — delivered directly to your inbox.China’s export controls are spilling over into products beyond the rare earths and magnets officially identified by Beijing, threatening broader supply chain disruption and undermining US claims that a new trade deal had resolved delays to shipments.Beijing, which dominates global supply of critical minerals, began requiring licences for exports of seven rare earth metals and related magnet materials in April in retaliation for Donald Trump’s sweeping tariffs on Chinese imports.On June 10, the US said it had agreed with China that rare…
Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldCanada has scrapped a digital services tax that targeted US technology companies, in an effort to smooth trade negotiations with its neighbour after President Donald Trump described the levy as a “direct and blatant” attack. The decision to abandon the tax, a 3 per cent charge on services provided by major technology companies in Canada, came hours before the levy was due to come into effect on June 30. “Rescinding the digital services tax will allow the negotiations of a…
It is not just pay and perks that are persuading those who walk away from the industry to return Source link
When one of the 19,000 employees at the UK energy group Centrica calls in sick, the company’s occupational health service swings into action. An engineer with a back problem from fixing boilers in cramped spaces can be referred for physiotherapy within five days. A call centre worker cracking from dealing with distraught customers will receive mental health support within 48 hours. All workers, without exception, receive a questionnaire probing their diet, weight, sleeping habits and lifestyle on the first day of absence. When the company began developing the system, almost a decade ago, some staff found it intrusive, acknowledges Sandra Dyball, Centrica’s…
Stay informed with free updatesSimply sign up to the Chinese economy myFT Digest — delivered directly to your inbox.Chinese manufacturing activity contracted for the third straight month in June, according to official data, highlighting the impact of a trade war with the US despite a fragile truce.The manufacturing purchasing managers’ index stood at 49.7 in June, data from the National Bureau of Statistics showed on Monday, an improvement on May’s reading of 49.5 but still below the 50-mark that separates expansion from contraction.China’s manufacturing PMIs — a monthly survey that provides an early glimpse of economic activity — turned negative…
Stay informed with free updatesSimply sign up to the UK financial regulation myFT Digest — delivered directly to your inbox.Millions of British savers will be able to access “targeted support” under sweeping new rules to help individuals get better returns on their money, as companies including Hargreaves Lansdown and Vanguard gear up to offer such services.Unveiling one of the biggest shake-ups of investment advice for a decade, the Financial Conduct Authority said it would allow companies to make generic suggestions to consumers without having to meet all the costly restrictions involved in providing personalised financial advice.The move, which the FCA…
U.S. stock-market futures rose Sunday, after the S&P 500 and Nasdaq finished last week at record highs. Source link