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Labour workers’ rights concessions slash expected cost to business, government analysis shows

The cost to UK businesses of Labour’s flagship overhaul of workers’ rights has been cut by billions of pounds after ministers significantly watered down the legislation, according to the government’s own updated analysis. A revised Whitehall impact assessment published on Wednesday estimates that the Employment Rights Bill will now cost employers around £1bn, a sharp reduction from earlier projections that put the figure as high as £5bn. The government said the lower estimate reflects a...

Berkshire Hathaway ends $100,000 CEO salary as Warren Buffett’s successor earns $25m

Berkshire Hathaway has formally drawn a line under one of corporate America’s most famous pay traditions, ending the $100,000 annual salary paid to Warren Buffett for more than four decades. Greg Abel, who took over as chief executive on January 1, will receive an annual pay package of $25 million, a sharp break from the frugal compensation model that long defined the Omaha-based investment giant. Abel, 63, had already been one of the highest-paid executives...

How tariffs will continue reshaping the global economy in 2026

Donald Trump has never been shy about his favourite economic weapon. In his pre-Christmas address to the nation, the US president once again made clear that tariffs remain central to his vision for American prosperity. While supporters argue that tariffs are reviving domestic industry, lifting wages and restoring economic sovereignty, critics remain unconvinced. What is no longer in dispute, however, is that Trump’s tariff regime has already reshaped the global economy, and will continue to...

Al Gore sounds ‘climate crisis’ alarm as Trump yanks US from UN initiatives

Former Vice President Al Gore on Wednesday condemned President Donald Trump’s move to withdraw the U.S. from United Nations-linked climate initiatives. Gore claimed in a post on X that ‘the most significant challenge of our lifetimes’ is ‘the climate crisis.’  ‘The ongoing work of the IPCC, UNFCCC, and other global institutions remains essential to safeguarding humanity’s future,’ he asserted, referring to the Intergovernmental Panel on Climate Change (IPCC), the United Nations Framework Convention on Climate...

Trump threatens defence firms over slow weapons production

Donald Trump has launched an extraordinary attack on America’s largest defence contractors, threatening to block dividends and share buybacks unless they accelerate weapons production, as he prepares a dramatic expansion of US military spending. In a post on his Truth Social platform, the US president warned defence firms that he would no longer tolerate what he described as sluggish delivery of military equipment during “troubled and dangerous times”. His comments came ahead of plans to...

Trump greenlights Russian sanctions bill, paving way for 500% tariff on countries supporting Moscow: Graham

Sen. Lindsey Graham announced Wednesday that President Donald Trump has approved a Russian sanctions bill designed to pressure Moscow to end its war with Ukraine. Graham revealed the development in a post on X, describing it as a pivotal shift in the U.S. approach to the Russia-Ukraine conflict.  ‘After a very productive meeting today with President Trump on a variety of issues, he greenlit the bipartisan Russia sanctions bill that I have been working on...

‘Irregular’ armed guards aboard Russian shadow tankers alarm Nordic-Baltic governments

The seizure of a Russian-linked oil tanker in the North Atlantic has highlighted ‘worry’ among NATO and Nordic-Baltic governments over dark fleet vessels and the type of crews onboard, according to a maritime intelligence analyst. U.S. military and Coast Guard personnel boarded the Marinera between Iceland and the U.K. Wednesday as it operated under deceptive shipping practices, including flying a false flag and violating sanctions. According to Reuters, Russian authorities demanded the humane treatment and...

Trump orders US withdrawal from 66 ‘wasteful’ global organizations in sweeping ‘America First’ crackdown

President Donald Trump on Wednesday signed a presidential memorandum directing the U.S. to withdraw from 66 international organizations, ordering executive departments and agencies to cease participation in and funding of entities the administration says no longer serve U.S. interests. The memorandum follows a State Department review ordered earlier this year under Executive Order 14199 and applies to 35 non-United Nations organizations and 31 United Nations entities, according to the White House. In the memorandum, Trump...

Cruz demands impeachment of Boasberg and judge who sentenced Kavanaugh’s attempted assassin

Sen. Ted Cruz, R-Texas, on Wednesday called on Congress during a Senate hearing to impeach two federal judges, making his most elaborate case yet for imposing the extraordinary sanction on a pair of closely scrutinized jurists. Cruz acknowledged that impeaching federal judges is exceedingly rare — 15 have been impeached in history, typically for straightforward crimes like bribery — but the Texas Republican argued it was warranted for judges James Boasberg and Deborah Boardman. ‘Rarer...

9 House Republicans defy Mike Johnson, join Dems to advance Obamacare extension vote

Nine House Republicans bucked their party leaders on Wednesday evening to advance a vote on a Democrat-led healthcare bill. The nine GOP lawmakers’ support was key to pushing ahead on a vote to extend enhanced Obamacare subsidies that expired at the end of last year. A vote on the bill itself is now expected Thursday afternoon. It’s a blow to Speaker Mike Johnson, R-La., who argued for weeks that the majority of House Republicans were...