Topic
money
Trade Target gets $1bn boost from Trump tariff refunds after Supreme Court ruling
Target received almost $1bn (£733.9m) in tariff refunds from the US government, boosting its Q2 operating income to $2.6bn. The payment followed a Supreme Court ruling that declared a wave of President Donald Trump's tariffs unlawful. The retailer is using the money to invest in price while reducing its reliance on China.
Finance Bank Switching Incentives Hit £220 as Loyalty Costs UK Savers £12bn
More than five UK banks are offering up to £220 to switch current accounts. Hargreaves Lansdown research finds nearly two-thirds of savers have stayed over a decade, costing £12bn in missed interest annually. Experts say compare service, fees, and savings rates, not just bonuses.
Finance Friendship with Benefits: Why Trump Is Helping Japan Rescue the Yen
The US and Japan staged the first coordinated intervention in almost three decades to strengthen the yen, spending up to $36.58 billion in a single day. The move shields Tokyo's more than $1.1 trillion Treasury holdings from forced sales, while changing the cost calculus for companies with yen exposure.
Business New UK Chancellor Unveils VAT Cut, Bus Fare Cap, and Business Rates Relief for Hospitality
BBC's Money Box reports on Chancellor John Healey's immediate policy announcements including a VAT cut on household energy from October, a bus fare cap from January, and a 20% business rates reduction for pubs, clubs, and live music venues from April. The programme also highlights a water poverty study affecting nearly 2 million households and a survey showing over 80% of wealthier over-45s favour lifetime gifts over inheritance.
Trump's UFC White House Event Opens Lobbying Channel for Corporate Interests
President Donald Trump is hosting a UFC event at the White House this weekend, with sponsorships costing up to $1 million offering companies rare direct access to the president. Political consulting firms are advising clients to buy packages, and the event is oversubscribed. Meta, a regular Octagon sponsor, has ongoing business interests before the federal government.