Category: 3. Business

  • Customs Reform Needed As Import Rules Change 

    Customs Reform Needed As Import Rules Change 

    Responding to news of the Government’s plan to widen customs charges to low value goods entering the UK, William Bain, Head of Trade Policy, said: 

    “This has been on the cards for a while as the US has already made this change and the EU will do so at the start of January. 

    “If the UK did not follow suit, then it would risk significant trade diversion of goods from China as they would become more expensive to sell in those other markets. 

    “There will be winners and losers from this move. Many High St and online retailers have complained about unfair competition from Chinese manufacturers which can significantly undercut them. 

    “The Treasury estimates that almost £6bn of goods that currently enter the UK without having to pay customs duties would be covered by this change. That would raise at least an extra £500m for the Exchequer every year. 

    “On the losing side are regional airports, which have been major beneficiaries of the surge in freight flights carrying these goods from China. Airports like Prestwick and Bournemouth have seen a big rise in freight traffic from China and additional work as a result.  

    “In making these changes from 2029 it is important the Government keeps a level playing field with the EU and US to maintain our strong trade ties. 

    “But in a world of increasing trade complexity the government should use this opportunity to make more comprehensive customs reforms. 

    “To grow our economy, we must make it quicker, simpler and cheaper to bring in and export goods from the UK. The EU is already conducting the biggest customs reforms in a generation, and the US is changing the role of its customs agencies too.  

    “The UK needs a modernised rulebook, the rollout of digital trade corridors with a wide range of trading partners, a clear timeline for a Single Trade Window, and better customs co-operation with the US and EU.  

    “These changes on customs duty charges should be part of that, so all businesses benefit from lower costs and greater efficiency in trade.” 

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  • Politics, crime and conspiracy content

    Politics, crime and conspiracy content

    Elon Musk can’t stop posting about the political fringe.

    In recent weeks, the world’s wealthiest person used X to post about immigrants to Britain, saying they will cause the country’s collapse. He posted about examples of violent crime in Minnesota and South Carolina — where he does not live — and about judges in California and New York he believes are too lenient. Musk also smeared trans people, complained about Black-on-white crime, stoked fear about the end of civilization and shared his thoughts about the race of child actors.

    Musk posted about all those topics and more in a recent one-month period, during which NBC News tracked and analyzed all of his posts for an in-depth look at where the tech billionaire focuses his attention online.

    Musk left his role in the second Trump administration in May to focus on his companies, and since then he has continued to share a torrent of content on his social media site. Between Sept. 17 and Oct. 17, Musk posted, replied to or shared content 1,716 times on his X account — about 55 times a day, on average.

    Some of his messages invoke extreme ideas, like the antisemitic “great replacement” conspiracy theory, which says there is a top-down plot organized by Jewish people to replace the white populations of the United States and Europe with nonwhite people. Musk backed the same false theory two years ago, causing a backlash among X advertisers. Though he later said he was “aspirationally Jewish” and not antisemitic, he continues to share the conspiracy theory. He also shared the baseless conspiracy theory that the FBI staged the Jan. 6, 2021, attack on the U.S. Capitol.

    An NBC News analysis of his online activity shows that while Musk may have shifted some of his day-to-day attention back to his companies, his public presence on X is a mix of promoting his business and weighing in on issues that are typically the focus of the far right.

    Nearly half of his posts, 49%, during the period reviewed by NBC News were about politically charged topics. NBC News classified a post as political if it related to a government official, a political commentator or a policy debate.

    Musk’s presence on X serves to maintain his political influence as he considers whether and how to become involved in the 2026 midterms or the presidential campaign that will follow.

    Musk did not respond to a request for comment on the NBC News analysis.

    “He can make himself inescapable,” said Thad Kousser, a political science professor at the University of California, San Diego.

    “Regardless of his links at any time to Donald Trump or to Democrats, he still has the potential to capture eyeballs and thus potentially votes,” he said.

    About 41% of his posts during the same time period were about his companies. His AI startup, xAI, was his most frequent business topic, coming up in 21% of his posts. He touched on automaker Tesla in about 11% of posts and on rocket company SpaceX about 6% of the time.

    Taken together, the posts offer a near real-time look at what is on the mind of one of the richest and most powerful people in the world as he oversees buzzy companies that fulfill major government contracts or move markets as part of the “magnificent seven.” This month, Tesla shareholders approved a new CEO pay package that could be worth up to $1 trillion if the company meets a series of benchmarks. Musk counts more than 229 million followers on X, and his posts regularly get millions of views.

    “He’s not just the wealthiest person alive. He’s also one of the most influential, even if he has no formal role in government,” said Rob Lalka, a business professor at Tulane University who studies the tech industry’s impact on politics.

    “He’s both really good at spotting what will soon be trending and also being one of the people who is defining that in this cultural moment,” he said.

    During the month that NBC News analyzed, Musk engaged with ideas on the fringe of politics, including an unapologetic attitude toward past British colonialism and a proposed nationwide purge of judges based on a Central American precedent. In an offhand remark, he appeared to claim Mars as legal territory of the United States.

    “That is not what most average people are sitting around spending their time on, especially in an economy where real wages are not great,” Lalka said. “Most Americans are worried about the price of eggs right now.”

    Musk, who said he voted for Democrats in 2016 and 2020, has shifted sharply to the right in recent years. During last year’s campaign, he aligned himself with Trump, made appearances in key swing states and poured more than $290 million into Republican efforts. He then joined Trump’s administration as a White House adviser and the head of Trump’s Department of Government Efficiency (DOGE).

    Musk’s foray into government was rough. He repeatedly clashed with other Trump administration officials over the extent of his authority, DOGE did not drastically affect the federal budget deficit, and the cuts it did make have been blamed by public health researchers for hundreds of thousands of deaths worldwide.

    Tesla, where he is CEO, became a political target, and shares of the company took a beating. In May, he said he was leaving the administration to spend his time at Tesla and limit any more government work to a day or two a week. When he left the White House, Tesla investors cheered.

    With his White House stint in the rearview mirror, Musk said in September that he was “burning the midnight oil” at work, with weekend meetings related to Tesla and xAI as he crisscrossed the country to visit employees in person.

    “Daddy is very much home,” he wrote on Sept. 15.

    Musk also took to his social media platform. One in eight of his posts in the month NBC News reviewed were about crime — slightly more than the share devoted to Tesla — even as crime rates continued to fall. In a Gallup poll in October, only 6% of Americans listed crime as the most important problem facing the country.

    His posts were often targeted at influencing current events. In early October, before Trump decided against sending federal troops to San Francisco, Musk helped to fuel a narrative that crime was out of control in the city. He posted about crime there 13 times over two days, despite San Francisco experiencing the fewest homicides since 1954.

    “I think he is mostly speaking to people who already agree with him,” said Darren Linvill, a co-director of Clemson University’s Media Forensics Hub. “He’s not necessarily persuading anyone to come join him. But that still serves a function to maintain his influence and presence as a political actor.”

    Musk has gone after judges and prosecutors who he said were too lenient. He posted about judges 52 times, including twice when he called for the wholesale removal of “corrupt” judges and cited purges in El Salvador as a model for the United States.

    Often, Musk focused on cases where the criminal defendants were Black, immigrants or both, and where the victims were white, appearing to play into narratives about interracial crime that are common in conservative media. Experts say there is no evidence of a migrant-driven crime wave, and most violent crime occurs between a victim and a perpetrator of the same race, according to Justice Department survey data.

    In the 31 days that NBC News analyzed, Musk posted about violent crime every day but two.

    Immigration was the second-most frequent political topic on Musk’s mind. About 8% of his posts touched on the subject, often aligning with the Trump administration’s own harsh language. He shared immigration-related posts from Vice President JD Vance four times, from the official White House account twice and from White House deputy chief of staff Stephen Miller once. Musk also accused officials in Democratic-led cities of “treason” for resisting immigration enforcement.

    Musk’s opposition to immigration was global, criticizing politicians in Europe and Asia for allowing in migrants. He warned that mass immigration would “destroy Japan” and lead to “the end of Britain.” Musk, a native South African who became a U.S. citizen in 2002, is an immigrant himself.

    Joan Donovan, an assistant professor of journalism and emerging media studies at Boston University, said Musk’s frequent posts related to the decline of Western civilization are a thinly veiled callout to racial politics.

    “This is, of course, a dog whistle about white identity politics and for people who are expressly proud of being white and unapologetic about their own beliefs in white supremacy,” she said.

    She said that Musk’s embrace of fringe topics, such as a purge of judges, is the kind of content that used to be confined to the internet’s darkest corners.

    “It’s really reflective of some of the grossest places on Reddit or the type of posting you’d see on 4chan. It’s become a reality-distortion machine,” she said.

    But lately, racist rhetoric has been surging in the open, with white nationalists such as Nick Fuentes finding more mainstream footing on Musk’s X and in other venues.

    Race was a major theme in Musk’s posts. Musk, or those whose posts he shared, often depicted Black people in a negative light, and they often did so regardless of the topic at hand.

    Photos of Black criminal defendants appear to get Musk’s attention. Forty-one times during the month — more than once a day, on average — Musk shared or replied to a post that had an image of a Black person charged with a crime.

    He posted about alleged Black criminals in Florida, Germany, Minnesota, New York, North Carolina and elsewhere, and in many of the cases the defendants were charged with harming white victims. Sometimes, Musk would include an ominous warning such as, “He will kill again.” One post from another user, the actor James Woods, had eight photos: four Black defendants and four white victims. Woods wrote: “Sad.” Musk replied: “Yes.”

    Once, when an account denounced six amendments to the U.S. Constitution, including the post-Civil War 15th Amendment, which guarantees the right to vote regardless of race, and the 19th Amendment, which guarantees the right to vote regardless of sex, Musk responded with the “tears of joy” emoji. And on five occasions, Musk replied to or shared content from two accounts that regularly post white supremacist views.

    There were six posts where Musk portrayed Black people in a positive light: two from a Black influencer saying that Democrats had failed Black Americans, and four posts in which Black people praised conservative influencer Charlie Kirk after his death.

    Musk spent a lot of time posting about perceived enemies: About 1 in 5 of his posts during the month, or 21%, fell into that category, which for Musk included the news media, civil rights organizations, Hollywood, OpenAI and numerous people who identify as transgender.

    Beyond politics, one of Musk’s frequent topics is himself. About 6% of his posts during the month referenced his own quotes, videos of interviews he has given or other bits of his life story and the mythology surrounding it. Sometimes he engages in conversation with accounts such as @ElonClipsX, @muskonomy or @muskosophy.

    When the account @muskosophy posted a quote of his in September — “You don’t have a soul, you are a soul” — Musk responded, “Yes.”

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  • How Google Finally Leapfrogged Rivals With New Gemini Rollout – The Wall Street Journal

    1. How Google Finally Leapfrogged Rivals With New Gemini Rollout  The Wall Street Journal
    2. A new era of intelligence with Gemini 3  The Keyword
    3. Generative UI: A rich, custom, visual interactive user experience for any prompt  Google Research
    4. Google launches Gemini 3 with state-of-the-art reasoning, ‘generative UI’ for responses, more  9to5Google
    5. 5 things to try with Gemini 3 Pro in Gemini CLI  Google for Developers Blog

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  • Investors Clamor for a Peek Behind the Private Markets Curtain

    Investors Clamor for a Peek Behind the Private Markets Curtain

    Selling data on private equity and private credit is becoming big business on Wall Street. In a market where opacity is the whole point, it is also a tricky feat.

    S&P Global last month became the latest Wall Street behemoth to shell out for a private-asset data provider when it announced plans to buy With Intelligence for $1.8 billion. BlackRock paid $3.2 billion for Preqin in March, MSCI acquired Burgiss for $900 million in 2023 and Morningstar nabbed PitchBook for $200 million in 2016.

    Copyright ©2025 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

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  • Swiss regulator warns mortgage risks are rising as banks stretch lending rules

    Swiss regulator warns mortgage risks are rising as banks stretch lending rules

    GENEVA, Nov 22 (Reuters) – Switzerland’s financial market regulator warned on Saturday of growing risks in the housing market, saying banks were stretching mortgage lending criteria as property prices continue to climb.

    “The risk in the mortgage market is high, prices continue to rise, and the danger of a correction is correspondingly high,” the head of FINMA, Stefan Walter, told the Swiss news outlet Blick in an interview.

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    “We have found that the scope for granting mortgages is being exploited excessively by various banks.”

    Internal criteria are either too loose, or a high proportion of financing goes beyond some banks’ own affordability rules, he stated.

    He told Blick that some banks were relaxing their internal lending criteria on between 25% and 40% of mortgage loans as a result of intense competition.

    FINMA intervenes when it sees exceptions of that level, he added.

    Reporting by Olivia Le Poidevin; Editing by Kevin Liffey

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  • EssilorLuxottica proposes taking stake of 5-10% in Armani, report says

    EssilorLuxottica proposes taking stake of 5-10% in Armani, report says

    MILAN, Nov 22 (Reuters) – Eyewear company EssilorLuxottica (ESLX.PA), opens new tab would be interested in taking a stake of between 5% and 10% in Armani but would not seek an active role in the management of the luxury fashion group, Italian business daily Il Sole 24 Ore reported on Saturday.
    A restructure of the famed fashion house is expected following the death of founder and owner Giorgio Armani in September.

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    EssilorLuxottica was named in Armani’s will alongside luxury conglomerate LVMH (LVMH.PA), opens new tab and L’Oreal (OREP.PA), opens new tab as priority potential buyers of an initial stake of up to 15% in the company.

    Citing unnamed sources, Il Sole said Franco-Italian company EssilorLuxottica had informed the Armani Foundation that it would be interested in becoming an investor but would seek a smaller stake and not ask for a seat on the board of Armani.

    There was no immediate comment from Armani or EssilorLuxottica, whose brands include Ray-Ban.

    Reporting by Keith Weir and Elisa Anzolin;
    Writing by Keith Weir; Editing by Emelia Sithole-Matarise

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  • London tech expert explains why the internet blew up this week (temporarily)

    London tech expert explains why the internet blew up this week (temporarily)

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    The audio version of this article is generated by text-to-speech, a technology based on artificial intelligence.

    The widely used internet infrastructure provider Cloudflare suffered a major outage on Tuesday morning, temporarily disrupting numerous websites and apps, including ChatGPT, Spotify, and the social media platform X.

    The incident lasted several hours, and follows other major outages in recent months involving Microsoft’s Azure platform and Amazon Web Services (AWS).

    London-based tech analyst Carmi Levy spoke with London Morning host Andrew Brown on Thursday to explain what happened, and what concerns the incidents raise about the stability and security of the internet.

    The following has been edited for length and clarity.

    Andrew Brown: I’ve got to admit, I had never heard of Cloudflare. That probably says more about me than Cloudflare, but what does something like that do?

    Carmi Levy: This is a company that most of us wouldn’t deal with, in the same way most of us don’t deal directly with Amazon Web Services or Microsoft Azure. It’s a content delivery network service, and basically, what it does is it ensures that the websites that we visit every day stay up and running.

    So if you run a website, you would call Amazon or Microsoft or Google to host it for you, then you would call Cloudflare to make sure it’s secure, that it’s protected from those big distributed denial of service attacks that generate headlines every once in a while. It performs a pretty important role on the internet. It makes sure that when you visit a website, you’re a human, not a bot. Not someone or something that wants to take that website down.

    AB: So then, how does it connect to the cloud?

    CL: Cloudflare isn’t something we install on our computers, it’s something that exists only on the web. They have a data centre, they work with websites like ChatGPT, or X, or even IKEA and Spotify. Those companies subscribe to Cloudflare, and they do some technological magic in the background.

    For example, sometimes when you sign in to ChatGPT, you’ll notice you’ll get a little pop-up right at the beginning saying, ‘click this to prove that you’re a human.’ If you look closely at it, you’ll see there’s a Cloudflare logo on it … It just works quietly in the background. Most of us never pay attention to it, but you know, of course, when it fails, everybody’s looking.

    LISTEN | Explaining this week’s Cloudflare outage:

    London Morning7:13Do you know where your data is being stored?

    Earlier this week, a segment of the internet’s cloud storage was down, and the effects were felt by most online users. London technology analyst Carmi Levy explained the situation with cloud servers and the world of data storage.

    AB: What do we know about why it took a bunch of websites down earlier this week?

    CL: An estimated 20 per cent of all websites on the internet use Cloudflare services in one way (shape) or form. The interesting thing is that originally, they thought it was a cyberattack, and it quickly turned out not to be the case. Then they called it an “internal service degradation,” basically, “something broke. We don’t know what it is.”

    The co-founder and CEO, Matthew Prince … he said it had to do with their bot management system, that’s what protects websites against bot attacks. It uses an AI tool that creates what’s called a “feature file,” and that feature file, every time you connect to the site, it looks at that feature file and goes, “Are all these things good? Does it match? Can I legitimately allow this person onto the site?” That file updates every five minutes. Unfortunately, they made a change to the code, and that code resulted in this file getting larger and larger and larger. It wasn’t erasing old versions of itself, which means eventually it just crashed.

    AB: What does this say about the stability of the websites that we depend on?

    CL: It’s a lot more centralized than we thought it was. It doesn’t take much to bring it all down, because massive services like Cloudflare, Amazon Web Service, Microsoft Azure, they control most of the traffic on the internet. For example, with AWS, it was one server in one data centre in West Virginia, and it took down a huge chunk of the global Internet.

    AB: Do you have any ways that we could try to protect ourselves from that risk?

    CL: Our parents told us always put your eggs in more than one basket, and I think the same logic applies here. We can’t stop these outages from happening, these are massive, global-scale companies. But what we can do is we can ensure that if Service A is no longer available, then we have an option for Service B. For example, it could be that you have a second email address or account on a second platform … that way, you’ll always have a backup.

    When you’re thinking of where to store your data, don’t just assume it’s always going to be safe in the cloud. Make sure you have some of your data in the cloud, Google Photos, for example, but don’t forget to save them locally too. Put them on a hard drive. Make sure that it’s safe in your home or someone else’s home.

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  • Daily Mail owner strikes £500m deal to buy Telegraph titles | Telegraph Media Group

    Daily Mail owner strikes £500m deal to buy Telegraph titles | Telegraph Media Group

    The owner of the Daily Mail has struck a £500m deal to buy the Telegraph titles, in a move that will create a right-leaning publishing powerhouse.

    Lord Rothermere’s Daily Mail & General Trust (DMGT) has entered a period of exclusivity with RedBird IMI, which has been seeking a buyer since being forced to put the papers up for sale last Spring, to finalise the terms of the transaction.

    The two parties say that they expect this process to “happen quickly”, however the deal is likely to trigger an in-depth investigation by the UK competition regulator.

    DMGT, which owns a stable of titles including the Metro, the I and New Scientist, already handles the advertising contract for the Telegraph titles.

    The move comes barely a week after RedBird Capital, The US group led by Gerry Cardinale, pulled out of its own £500m deal to buy the titles.

    Lord Rothermere has long coveted taking control of the Telegraph titles, and had been in line to take around a 10% stake as part of the aborted RedBird Capital consortium deal.

    “I have long admired the Daily Telegraph,” said Rothermere. “My family and I have an enduring love of newspapers and for the journalists who make them. The Daily Telegraph is Britain’s largest and best quality broadsheet newspaper, and I have grown up respecting it. It has a remarkable history and has played a vital role in shaping Britain’s national debate over many decades.”

    It is understood that the Mail and Telegraph editorial teams will remain separate, and DMGT says that it will provide investment to pursue the titles’ goal of becoming a global brand.

    DMGT said that the deal would give “much-needed certainty” to Telegraph staff, who have been stuck in limbo over a sale process that has dragged on for more than two years.

    “DMGT and RedBird IMI have worked swiftly to reach the agreement announced today, which will shortly be submitted to the secretary of state,” said a spokesperson for RedBird IMI.

    RedBird Capital, the junior partner in the RedBird IMI, had stepped in after the government introduced rules banning foreign states from owning UK newspapers.

    IMI is controlled by Abu Dhabi’s Sheikh Mansour bin Zayed al-Nahyan, the vice-president of the United Arab Emirates and the owner of Manchester City FC.

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  • DVIDS – News – U.S., Qatar and allies enhance regional defense during Exercise Ferocious Falcon 6

    DVIDS – News – U.S., Qatar and allies enhance regional defense during Exercise Ferocious Falcon 6


    U.S., Qatar and allies enhance regional defense during Exercise Ferocious Falcon 6


    By:  Ninth Air Force (Air Forces Central) Public Affairs and Fifth Fleet (U.S. Naval Forces Central Command) Public Affairs

     

    AL UDEID AIR BASE and UMM AL-HOUL NAVAL STATION, Qatar (Nov. 22, 2025) – More than 1,300 military personnel from the U.S., Qatar, Italy, United Kingdom, Turkey and France participated in Exercise Ferocious Falcon 6, a biennial, Qatar-hosted multinational joint exercise, Nov. 16-20.

     

    “Exercise Ferocious Falcon 6 showcased our ability to operate as a unified, lethal and agile force against regional threats,” U.S. Navy Commander Joseph W. Hontz, U.S. Naval Forces Central spokesperson, said. “Our commanders and battle staff received valuable training on the critical aspects of planning and management and using integrated command and control systems for effective unified operations, in order to enhance our collective combat readiness while building crucial partnerships across air, land and sea domains throughout the Middle East.”

     

    Both U.S. air and naval assets participated in the multi-domain exercise, which included a Bomber Task Force integration to demonstrate global power and a stake in the region, as well as surface, air and expeditionary forces, who executed multiple field exercises and maritime drills.

     

    Ferocious Falcon 6 integrated cutting-edge technology and methodologies to address modern challenges. The exercise was an opportunity for information-sharing across warfare domains and exemplifies partner nations’ shared commitment to adapting collective defense strategies in order to safeguard and strengthen regional commitments.

     

    “This exercise is as much about building relationships as it is about tactics and operations,” U.S. Air Force Maj. Katrina J. Cheesman, U.S. Air Forces Central spokesperson, said. “By exercising our shared defense capabilities, the United States and its regional partners seek to sustain trust, stabilize the Middle East, and reinforce the principles of peace and cooperation fundamental to rules-based international order.”

     

    Designed to enhance lethality and combat efficiency among allied forces, Ferocious Falcon 6 further solidified the enduring partnership between the U.S., Qatar and its allies by focusing on interoperability, warfighting readiness and overall maritime security in the region. The exercise provided vital training opportunities for all participants to test collaborative techniques within the U.S. Central Command area of responsibility.

     

    Training opportunities encompassed a command post exercise to train on integrated command-and-control; combined field training exercises involving multiple nations’ land, air and naval forces; air interdiction, escort and defensive counter-air training; tactical combat casualty care cross training; and Visit, Board, Search, and Seizure rehearsals among partners.

     

    U.S. Air Force assets were comprised of F-16 Fighting Falcons, KC-135 Stratotankers and a B-52 Stratofortress, while U.S. Naval Forces assets included the Independence-class littoral combat ship USS Tulsa (LCS 16), the fast-response cutter USCGC Clarence Sutphin Jr. and one P-8A Poseidon maritime patrol and reconnaissance aircraft.

     

    Ferocious Falcon 6 aimed to advance the operational capabilities of participating forces, strengthen coordinated defense strategies, and expand capabilities in maritime security and infrastructure protection. The exercise has evolved over the years to become a cornerstone of U.S.-Qatar and allied security cooperation.







    Date Taken: 11.22.2025
    Date Posted: 11.22.2025 04:32
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