Day: February 12, 2025

UK News: Canada says response to 25% aluminium and steel tariff will be ‘clear and calibrated’; Hong Kong to file complaint with World Trade Organization over tariffs imposed on city

* Trump announces 25% tariffs on foreign steel and aluminium

EU trade ministers are set to hold a video conference on Wednesday, following last night’s announcement that the US will impose 25% tariffs on steel and aluminium tariffs, Reuters reports, citing EU diplomats.

The European Commission, which oversees trade policy for the European Union, will seek to gauge views of the 27 EU members at the video conference due to take place at 3pm GMT. Continue reading…
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UK News: Murray Auchincloss reports fall in annual profits to $8.9bn last year from almost $14bn in 2023

* Business live – latest updates

The chief executive of BP has defended its tumbling profits as the board braces for a campaign by an activist investor to overhaul the troubled oil company.

Murray Auchincloss reported a sharp slump in BP’s annual profits to $8.9bn (£7.9bn) last year from almost $14bn in 2023, just days after it emerged that the activist hedge fund Elliott Investment Management has taken aim at the oil major by building a stake in the company. Continue reading…
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Company will give up to 20% off treatments such as Wegovy and Mounjaro through private cover

Vitality has become the first health insurer in the UK to offer customers discounted weight loss treatments for up to a year through its health cover.

The UK’s third-largest health insurer behind Bupa and Axa, with 1.9 million members, said it would offer discounts of up to 20% for medications such as Wegovy and Mounjaro – which are popular but pricey – to members, based on their body mass index (BMI) and weight-related health conditions. Continue reading…
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Thinktank cautions Trump tariffs could blow hole in forecast, with 63% of UK firms exporting to US expecting to be hit

The British economy is on course to expand by 1.5% this year after the budget gave a boost to public spending but could be blown off course if Donald Trump goes ahead with threatened tariffs, a leading economic thinktank has warned.

In a boost to Rachel Reeves after a bruising month of negative economic figures, the National Institute of Economic and Social Research (NIESR) upped its annual growth prediction from 1.2% to 1.5%. Continue reading…
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