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Burnham was officially declared as the new Labour Party leader on Friday following a short contest in which he was the only candidate, having secured the backing of 379 MPs. Some opposition parties have urged Burnham to call a general election in order to ensure he has a mandate for his premiership. However, Powell insisted Burnham would stick to the promises made in Labour’s manifesto in the 2024 general election. “Our manifesto did talk about the redistribution of power, it did talk about the rewiring of our country, it did talk about taking on some of those vested interests,” she…
Other options for Burnham include scrapping the Energy Profits Levy (EPL), or windfall tax. This was introduced when prices spiked at the start of Russia’s invasion of Ukraine. It has a headline rate of 78%, which is taken whether oil and gas prices are high or low.The industry says it makes the North Sea one of the least favourable in the world for investors and there is strong evidence that investment has certainly dried up in those years.It’s due to be replaced in 2030 by another windfall tax, which operators like more because it’s only triggered when prices are high…
Week Ahead: Tug-Of-War Between Softer U.S. Rates And Safe-Haven From Escalating Middle East War Source link
Andrew Tate (R) and his brother Tristan (2R) speak to the media as they arrive in Romania back from U.S., in Bucharest on March 22, 2025. Self-described misogynist influencer Andrew Tate return to Romania, where he is facing rape and human trafficking charges, after a trip to the U.S. The British-American figurehead of the online masculinist movement traveled to Florida, together with his brother, last month, marking the first time he had been out of the eastern European country since his 2022 arrest. Daniel Mihailescu | Afp | Getty ImagesInfluencer brothers Andrew and Tristan Tate, whose social media empire promoting…
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A US Navy aviation boatswain’s mate directs a F/A-18F Super Hornet assigned to Strike Force Squadron (VFA) 154 on the flight deck aboard the aircraft carrier USS Theodore Roosevelt (CVN-71) while the ship is moored in Honolulu, Hawaii, during Exercise RIMPAC (Rim of the Pacific) 2026 on July 17, 2026. (Photo by Michelle Bir / AFP via Getty Images)Michelle Bir | Afp | Getty ImagesThe U.S. said on Sunday it targeted Iranian forces that struck Jordan last week, an attack by Iran that left two American service members dead and one missing.Kuwait reported launching defenses against another wave of Iranian…
Institutional demand for CXMT’s $8.6 billion Shanghai IPO dented by chip stock selloff Source link
Why BofA remains negative on European equities Source link
Stay informed with free updatesSimply sign up to the Retail sector myFT Digest — delivered directly to your inbox.Large fashion groups including LVMH, Prada, Chanel and Inditex will be banned from destroying unsold clothes and footwear in the EU from this week, forcing the industry to overhaul the way it handles excess stock and customer returns.The blanket ban is particularly sensitive for luxury fashion groups because it removes one of the industry’s least visible tools for keeping their products desirable by maintaining their scarcity value. The new rule will force brands to choose between carrying higher inventory costs, expanding tightly…
Investing.com– South Korean stocks have suffered an unusually sharp selloff despite robust corporate earnings, with investors focusing more on financing costs and geopolitical uncertainty than on improving profits, according to a KB Securities research note. KB Securities analysts said earnings were not the primary driver behind the recent decline in the , arguing that markets are increasingly valuing artificial intelligence investments through the lens of funding costs rather than long-term growth prospects. Samsung Electronics () and SK Hynix () have both posted steep declines from recent peaks, dragging the benchmark index KOSPI, even as earnings expectations have remained resilient, the…