Justin Emerson

Rachel Reeves and the fiscal mirage

A modest undershoot in Britain's borrowing figures offers Chancellor Rachel Reeves a flicker of fiscal respite, though it is hardly grounds for celebration. With revenues buoyed by a one-off surge in National Insurance and corporate taxes, the margin for error remains vanishingly slim amid anaemic growth, surging debt costs, and geopolitical turmoil. The numbers may soothe market nerves temporarily, but the broader economic warning lights continue to flash with disquieting urgency.

June 20, 2025 at 09:16 am

Frasers backs away from Revolution Beauty bid

Frasers Group, the retail empire controlled by billionaire Mike Ashley, has decided against making an offer for Revolution Beauty, the struggling British cosmetics firm that recently put itself up for sale amid a prolonged downturn in sales.

June 19, 2025 at 09:07 am

UK Inflation: A cooling trend, but no cause for celebration

British inflation eased in May, offering some relief after a volatile spring, yet the sting of rising food prices is still being felt - especially among lower-income households. According to the Office for National Statistics, annual consumer price inflation came in at 3.4%, in line with both Bank of England projections and a Reuters poll of economists. This marks a slight deceleration from April’s 3.5%, a figure now known to have been inflated by a statistical error in car tax data.

June 18, 2025 at 08:59 am

Starbucks wants to break with five years of stagnation on the stockmarket

Under pressure in China, where it has lost half of its market share in five years, Starbucks is now considering bringing in a co-shareholder and handing over management of its operations to refocus on the United States.

June 17, 2025 at 09:53 am

Wireless, Gold-Plated, and Proudly Vague: Welcome to Trump Mobile

The Trump Organization has entered the mobile phone game. Yes, really. On Monday, the fine folks who brought you gold-plated hotels, steaks and vodka just launched Trump Mobile - a smartphone and wireless service tailored for those who like their LTE with a side of MAGA.

June 17, 2025 at 09:19 am

Crown Estate to Invest £400 Million in UK Offshore Wind Supply Chain

(MarketScreener with Reuters) The Crown Estate, custodian of Britain's seabed, has pledged up to £400 million to bolster the country's offshore wind sector. The funding is earmarked for expanding supply chain infrastructure crucial to accelerating the deployment of renewable energy projects across the UK.

June 17, 2025 at 08:44 am

Halma outpaces expectations

Halma, the British group specialising in health and safety devices, has reported a robust annual performance, surpassing market expectations. For the financial year ending 31 March 2025, the company posted an adjusted pretax profit of £459.4 million, marking a 16% increase year-on-year. This figure outstripped the company-compiled consensus forecast of £447 million.

June 13, 2025 at 09:38 am

Australia’s submarine gamble meets resistance

The AUKUS submarine pact - Australia's most ambitious defence undertaking to date - is once again under scrutiny, as the Trump administration initiates a formal review aimed at aligning the deal with the newly reinstated President's “America First” doctrine. While the Australian Defence Minister, Richard Marles, remains bullish on the project's future, the exercise underscores the political fragility of even the most vaunted trilateral alliances.

June 12, 2025 at 09:24 am

Reeves targets growth with strategic spending review

British finance minister Rachel Reeves has unveiled a spending plan designed to realign government priorities with the aspirations of working citizens, aiming to reinvigorate the country's economic momentum while shoring up Labour's faltering political capital. With an eye on the 2026-2029 fiscal cycle and long-term investments extending to 2030, Reeves pledged increased funding for health, defence, and infrastructure - areas she framed as key to national security and economic revival.

June 11, 2025 at 03:33 pm

Kennedy Ousts Vaccine Panel in Sweeping Health Overhaul

U.S. Health Secretary Robert F. Kennedy Jr., a long-standing vaccine skeptic, has dismissed all 17 members of the Centers for Disease Control and Prevention's Advisory Committee on Immunization Practices (ACIP), the group tasked with determining vaccine use recommendations. His department confirmed Monday that replacements are underway, igniting widespread criticism from public health professionals who say the move could erode trust in federal health agencies.

June 10, 2025 at 10:00 am

The battle for Revolution Beauty

British cosmetics firm Revolution Beauty is facing a pivotal moment, with Mike Ashley’s Frasers Group and others conducting due diligence for a possible acquisition. The company has been reeling from financial troubles, a leadership shake-up, and a turbulent relationship with shareholders. As it seeks salvation through a sale, the outcome could redefine the future of one of the UK’s most recognisable affordable beauty brands.

June 09, 2025 at 09:01 am

Broadcom Bets on AI, But Market Hopes for More

Broadcom is hitching its wagon to the artificial intelligence boom with a forecast that points to robust third-quarter revenue, largely fueled by demand for networking and custom chips tailored to AI.

June 06, 2025 at 08:44 am

Musk, GOP Step Up Assault on Trump's Tax Plan

Elon Musk and a faction of staunchly conservative Senate Republicans are intensifying their opposition to Donald Trump's tax-and-spending proposal, arguing that it bloats an already towering national debt. The Congressional Budget Office (CBO) projected the bill - aimed at prolonging Trump's 2017 tax cuts and boosting military and border security funding - would add $2.4 trillion to the U.S. debt, now at $36.2 trillion.

June 05, 2025 at 09:07 am

Trump to Bypass Congress to Boost U.S. Critical Mineral and Weapons Output

Donald Trump is preparing to invoke emergency powers to bypass legal hurdles, including certain congressional funding approvals, in a bid to accelerate U.S. production of critical minerals and defense equipment. A draft document reviewed ahead of its expected publication outlines the administration’s intention to stretch the Defense Production Act - a Cold War-era statute - beyond its conventional boundaries.

June 04, 2025 at 09:20 am

Oil Rises on OPEC+ Plan and Canadian Wildfires

Oil prices surged nearly 3% on Monday, driven by supply concerns stemming from Canadian wildfires and a measured production increase from OPEC+. The producer group reaffirmed its plan to raise output by 411,000 barrels per day (bpd) in July, resisting calls for a more aggressive expansion.

June 03, 2025 at 09:46 am

Airlines Loyalty Programs in Turbulence

U.S. airlines are sounding the alarm over a proposed crackdown on credit card transaction fees, warning that it could dismantle the loyalty programs that fuel millions of Americans’ travel habits. In a rare show of industry unity, American Airlines, United, and Southwest have joined forces with Boeing, Airbus, RTX, and GE Aerospace to urge Congress to shelve the bill.

June 03, 2025 at 09:15 am

BioNTech’s Billion-Dollar Bet on Cancer

BioNTech, best known for its COVID-19 vaccine success with Pfizer, has struck a landmark deal with Bristol Myers Squibb worth up to $11.1 billion, pivoting decisively back to its roots in cancer research. The alliance centres on BNT327, an experimental immunotherapy aimed at tackling solid tumors through a two-pronged attack - stimulating the immune response while cutting off the tumor's blood supply.

June 02, 2025 at 03:05 pm

Britain arms for Russian threat

Britain is set to expand its fleet of nuclear-powered attack submarines, increasing the number from seven to as many as twelve, as part of a new Strategic Defence Review designed to bolster the country’s readiness for modern conflict and confront growing threats from Russia.

June 02, 2025 at 10:13 am

Southwest Ends Free Bag Policy

Southwest Airlines has officially pulled the plug on its long-standing "bags fly free" policy, a hallmark that had set it apart in the fiercely competitive U.S. aviation market. Starting immediately, the airline will impose a $35 fee for the first checked bag and $45 for the second - unless you're a high-tier loyalist or paying top dollar for your seat. It's a stark reversal for the only major American carrier that had still been offering two free checked bags to all passengers.

May 27, 2025 at 09:39 am

Firms Scrap Forecasts Under Tariff Strain

A wave of uncertainty unleashed by U.S. President Donald Trump's wide-ranging tariffs - initiated on 2 April - has prompted a slew of companies across various sectors to withdraw or suspend financial guidance. While some firms have delayed providing forecasts, others have opted for more cautious or short-term approaches as they await clarity on trade policy and its economic fallout.

May 26, 2025 at 02:41 pm

Nvidia’s Next Move

As Nvidia faces growing economic headwinds and tightening AI infrastructure spending, CEO Jensen Huang used the spotlight of Taipei’s Computex to unveil the company's next strategic evolution. Through innovations like NVLink Fusion and a deeper push into the enterprise market, Nvidia aims to entrench itself as the foundational platform for the AI age. Buoyed by Taiwan’s vast tech ecosystem and local adoration, Huang’s vision signals that the company intends not just to weather the slowdown - but to define what comes next.

May 23, 2025 at 10:22 am