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Tory bid to boost NHS dental appointments led to fewer patients, MPs say 

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Scheme introduced by Conservative government ‘comprehensively failed’, report finds

Cross-Channel rail owner to offer incentives for new operators

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London St Pancras Highspeed, the former HS1, aims to attract more train companies and encourage extra Eurostar services

Trump floats China tariff relief in exchange for TikTok sale approval

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US president suggests he is open to horse-trading a day after imposing severe import levies on Chinese goods

FirstFT: Donald Trump’s tariff blitz hits ‘Factory Asia’ hard

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Also in today’s newsletter, Fitch downgrades China’s sovereign debt, and Samsung turns to China

Trump tariffs open rift among top Republicans in Washington

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US president’s trade war draws criticism from some senators and big donors

Trump’s tariffs ignite steepest Wall Street sell-off since 2020 Covid crisis

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Blue-chip companies including Apple tumble as investors rush to safety of US government bonds

Shares of Wall Street firms rocked by new US tariff regime

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Financiers thought Trump would usher in a pro-business era but financial stocks have stumbled as tariff plans became clear

Elliott Management steps up proxy campaign against refiner Phillips 66

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US hedge fund seeks investor support to divest assets and install new board members to unlock value

The American consumer’s identity crisis

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A vibe shift, heralded by a sea of red

Trump triggers race to offer US concessions before tariffs hit

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Nations prepare offers to Washington including weapons deals, dropping their own tariffs and moves against China

Davos forum founder Klaus Schwab to step down as chair of trustees

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Head of body that hosts elite business conference says event must recover ‘sense of mission’

UK promises rapid review of NHS drug-pricing rebate

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Under the scheme, drugmakers discount the price of medicines sold in bulk to the healthcare system

Heads roll at US National Security Council after activist alleges ‘disloyalty’

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Sackings come as top adviser Mike Waltz comes under pressure for discussing military strikes in Signal chat

Lower growth, more Bank rate cuts: What do Trump’s tariffs mean for UK?

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Exporters from cars to whisky hit, while economists warn of growth impact

How to sift through Trump’s retail discount rack

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Merchants that buy and sell excess merchandise from top brands might benefit from the trade war

Fitch downgrades China’s sovereign debt over spending and tariffs

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Beijing denounces ‘biased’ move by rating agency, insisting country’s economic foundations are stable

America’s astonishing act of self-harm

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Trump’s tariffs will upend the global economic order and tarnish US prosperity

Jeep and Chrysler maker Stellantis to furlough 900 US workers

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Component facilities in Michigan and Indiana are hit after carmaker idles production in Canada and Mexico

Falklands toothfish caught in Trump’s tariff dragnet

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Islands’ exports to US — a category composed almost entirely of a succulent deep-sea fish — will face 42 per cent levy from next week

European banks exposed to risk of US dollar shortfall, says EU watchdog

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Banking regulator finds 60 out of 267 banks have insufficient US dollar funding to cover exposures in the currency

O dirang, Donald?

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That’s Sesotho, and this is a post on that Lesotho tariff

UK cuts portion of foreign aid budget spent on asylum seekers in Britain

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Costs have fallen because fewer hotels are being used and migrant returns have risen sharply

Sweeping tariffs threaten ‘Factory Asia’

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Trump administration’s moves put ‘China plus one’ manufacturing strategy at risk

Need more joined up thinking on the north

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Also in this week’s newsletter, regional disparities in the government’s ‘growth spending’

Norfolk ‘megafarm’ blocked over council’s climate concerns

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Decision shows wider application of landmark fossil fuel court ruling that stopped an oil and gas project

Today’s US-Russia détente is unlike those of the past

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Steeled by years of confrontation, Moscow will not give up just anything in hope of future reciprocity

Sector by sector: the Trump tariff fallout

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US consumers are set to be the biggest victims with cost increases set to be passed on to customers

Why does Trump’s tariff explainer reference a paper it doesn't cite?

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Yes, we checked the references

Luton airport expansion gets government approval

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Project includes a new terminal but not another runway and will see passenger capacity almost double to 32mn

Queasy Irish banks are opportunities for strong-stomached investors

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Importantly, a lot of risk has already been factored in by both investors and the banks themselves

Co-op takes £80mn hit from shoplifting

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Wave of theft is adding to raft of cost pressures on retail industry

Trump takes his trade war to the world’s tiniest nations

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The ‘mountain kingdom’ of Lesotho joins Pacific island Nauru on list of countries hit with punishing US tariffs

Oil slides as Opec+ lifts production and tariffs fuel global growth fears

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Unexpected increase in supply comes as concern over world economy hits several commodities

China ‘optimistic’ about deeper UK financial co-operation

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Vice-minister Liao Min speaking as renminbi green bond launched in London

A US tariff pathology is unleashed upon the world

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The Republicans have allowed a destructive economic nationalist to lead America into chaos

Apple loses $250bn in market value from Trump tariff hit

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iPhone maker one of Wall Street’s biggest casualties despite Tim Cook’s efforts to court US president

Trump’s trade onslaught imperils chance of China ‘grand bargain’

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‘Hard decoupling’ between world’s two largest economies could derail negotiations covering TikTok

Your guide to Donald Trump’s ‘reciprocal’ tariffs

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Also in today’s newsletter, how the president is exploiting an identity crisis among major US law firms

Trump’s tariffs are an economic emergency for Americans

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Misplaced nostalgia is not a good enough reason for something that will only hurt voters

US coffee drinkers in for double shot of pain from tariffs

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Beans and chocolate prices set to rise as a result of new levies

US tariff shock underscores the instability of a shifting world

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The global economy is on a bumpy journey to an unknown destination

Nato chief says any US pivot from Europe would be ‘co-ordinated’

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Mark Rutte gives reassurance there are no plans for ‘sudden draw down’ of American presence

How deepwater producers remain resilient amid fluctuating oil prices

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The industry has made a comeback and is one of the biggest sources of growth for large operators

Stocks tumble as Trump takes world to brink of full-blown trade war

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President reveals plans to impose 10% universal levies and higher duties on major partners

‘Beware a dollar confidence crisis’ — DB

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Taking another look at the puzzling greenback puke

Trump’s new rules (of origin)

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It ain’t where you’re at, it’s where you’re from

Will Trump’s ‘liberation day’ tariffs drag US into recession?

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President’s move to rip up global trade rule book will hit an economy already losing momentum, say economists

Trump baffles economists with tariff formula

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Calculation deeply flawed economically and will fail in stated aim of ‘driving bilateral trade deficits to zero’, say analysts

Hungary to leave ICC as Netanyahu meets Orbán in Budapest

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Israeli PM visits European nation that is defying EU partners and Nato allies over international justice

BP’s low-carbon mobility team axed as company reverts to oil and gas

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Executive tells staff it is not ‘commercially viable’ for group to keep unit dedicated to low-emissions vehicles