White House hits back at Amazon plan to show tariff price rises

BBC Business • April 29, 2025 • Business

Amazon may be planning to show its customers how President Trump's trade tariffs are affecting prices, but this information hasn't been confirmed yet. The White House is not happy about this potential plan, with press secretary Karoline Leavitt calling it a "hostile" political act.

Key Facts:

• Amazon might be planning to show customers the cost impact of President Trump's trade tariffs.
• The White House has strongly disagreed with such a possible plan, calling it "hostile" and political.
• Amazon has not yet confirmed this plan.
• President Trump has increased tariffs since starting his term in January. He believes this will support manufacturing and bring more tax money to the US.
• The increased tariffs have caused a decrease in trade between the US and other countries, leading to worries about supply shortages and higher prices for items like baby strollers and umbrellas.
• Jeff Bezos, founder of Amazon, has previously supported President Trump's push for fewer regulations and lower taxes.
• Some businesses have already started to show customers the cost of these tariffs.
• Roughly half of the sellers on Amazon in the US are from China.

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BBC Business

Trainer prices will rise due to tariffs, says Adidas

BBC Business • April 29, 2025 • Business

The sportswear company Adidas has announced that the cost of their trainers in the United States may increase due to tariffs imposed by the US government. Adidas's CEO, Bjorn Gulden, explained that since their products are mostly not made in the US, these tariffs would lead to higher product costs.

Key Facts:

• Adidas warned that the cost of their trainers in the US may go up.
• The reason for the potential price rise is the import taxes imposed by the US government.
• Adidas largely does not produce their products in the US.
• Clothing manufacturers like Adidas, which use labor from countries like China and Vietnam, are heavily affected by these tariffs.
• The final amount of the price increase is not yet known.
• Adidas doesn't know what the final tariffs will be due to ongoing negotiations between the US and exporting nations.
• Adidas, among other shoe brands, have large factory outlets in South East Asia.
• In an attempt to lessen the impact of tariffs, Adidas previously increased its exports to the US and redirected products meant for the US to other markets.

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BBC Business

Americast

BBC Business • April 29, 2025 • Business

The article discusses actions taken by Donald Trump during his first 100 days in office focusing on his economic plan. It also delves into other related areas such as immigration and changes in the federal government.

Key Facts:

• This is an assessment of Trump's first 100 days in office.
• The report particularly focuses on Trump's actions concerning the U.S. economy.
• Trump's policy to "make America wealthy again" was analyzed.
• The commentary also discussed changes in immigration under Trump's leadership.
• Another topic discussed was the reduction in the federal government, apparently influenced by Elon Musk.
• The article mentioned a potential shift in public support for Trump.

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BBC Business

Second-hand school uniform scheme 'flat out'

BBC Business • April 29, 2025 • Business

A community store in Sunderland called Second Chance is supplying free second-hand school uniforms to families who can't afford them. The UK's Department for Education is considering changes to lower the number of mandatory branded school items, which can be expensive.

Key Facts:

• Second Chance is a community shop in Sunderland that provides used school uniforms for free to families in need.
• The shop has been in operation for two years and has seen an increase in demand.
• The government is discussing changing the law to reduce the number of branded school items students must have, to cut costs for families.
• On average, 20 families use the Second Chance service every day.
• The new measures proposed by the Department for Education could save parents around £50 per child.
• The average cost of a full school uniform and PE kit for a secondary school student is £442, and £343 for a primary school student, according to Department for Education data.
• Second Chance plans to move to a larger location this year to better meet demand.
• The proposed changes to the law still have several stages to go through before they can be officially passed.

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BBC Business

More people worrying at benefit changes say centre

BBC Business • April 29, 2025 • Business

A support center in Ross-on-Wye, Herefordshire, reports an increase in people worried about proposed changes to UK benefits. The UK government plans to modify the benefits system, leading to concerns particularly regarding the personal independence payments (PIP) and incapacity benefits under universal credit.

Key Facts:

• Staff at @the Hub, a support center for vulnerable individuals, are experiencing an increase in visitors concerned about changes to the benefits system.
• @the Hub is a volunteer-led service located in Ross-on-Wye, Herefordshire, providing advice and assistance about issues such as benefits, housing, and debt.
• The UK government, previously under Labour, announced major changes to the benefits system aimed at reducing public spending on welfare.
• These changes include stricter criteria for personal independence payments (PIP) and reducing incapacity benefits under universal credit for new applicants.
• Les Mifflin, a 64-year-old former kitchen porter and regular at @the Hub, is worried about significant cuts to his PIP due to these proposed changes.
• Since its launch in June, @the Hub has received 5,000 visits with the number of regular users increasing from 220 in winter to about 280 currently.
• The Government plans to save £4.8 billion by reducing the benefits bill; it is estimated that by 2030, these reforms will leave 3.2 million families worse off, while 3.8 million families will be better off.
• A Department for Work and Pensions (DWP) spokesperson emphasized that the government will continue to support those with severe health conditions, and plans to introduce a new premium for those unable to work.

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BBC Business

Prince Andrew's firm linked to controversial PPE millionaire

BBC Business • April 29, 2025 • Business

A company controlled by businessman Doug Barrowman managed one of Prince Andrew's businesses, Pitch@Palace Global, for two years. This happened after a difficult TV interview with Prince Andrew in 2019. Pitch@Palace Global is like a business competition for new business ideas and was in the name of Knox House Trustees (UK), a company linked to Barrowman.

Key Facts:

• Pitch@Palace Global, a business of Prince Andrew's, was managed by Knox House Trustees (UK), a company associated with Doug Barrowman, for two years.
• Doug Barrowman is a businessman who, along with his wife Michelle Mone, has been questioned about their connection to a company that won big government contracts during the COVID-19 pandemic.
• After a hard-hitting interview on the show Newsnight in 2019, legal ownership of Pitch@Palace Global was transferred to Knox House Trustees (UK).
• Pitch@Palace Global is a competition where entrepreneurs can present their business ideas to potential investors.
• Prince Andrew's financial situation has been closely examined recently, in particular how he affords his lifestyle after reportedly being cut off financially by his brother, King Charles.
• The prince has said that he has stopped all communication with Yang Tengbo, the man in charge of the Chinese version of Pitch@Palace, based on advice from the UK government who suspect Yang is a spy.
• In 2017, one of Barrowman's companies, AML Tax (UK), was investigated by HMRC (UK's tax authority) for promoting ways to avoid paying tax. The company was fined £150,000 in 2022.
• Both parts of Pitch@Palace stopped operating after Prince Andrew's 2019 interview about his connections to the late Jeffrey Epstein, who was convicted of sex crimes.

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BBC Business

Trump set to ease tariff impact on US car makers

BBC Business • April 29, 2025 • Business

President Trump plans to take measures to lessen the effect of his tariffs on car manufacturers in the U.S. These moves are expected to decrease some import duties on parts used in American-made vehicles and avoid additional charges on cars built overseas.

Key Facts:

• President Trump intends to reduce the impact of his tariffs on U.S. car manufacturers.
• This will involve decreasing some import duties on parts from abroad used in U.S.-made vehicles.
• Cars manufactured outside the U.S. will still face automotive tariffs but won't have extra charges like those on steel and aluminum items.
• This move is seen as the latest effort by the Trump administration to show flexibility on tariff policy.
• Ford, General Motors (GM), and Stellantis are among the major car manufacturers in Michigan, a state significant to the U.S. car industry.
• The decision is welcomed by GM's Chief Executive Mary Barra.
• Last week, several U.S. car industry groups urged President Trump not to impose 25% tariffs on imported car parts, warning it would lead to higher prices for consumers.
• Trump had previously indicated the tariffs would take effect by May 3.

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BBC Business

Australian PM dismisses warning over AAA credit rating

BBC Business • April 29, 2025 • Business

Australian Prime Minister Anthony Albanese dismissed the suggestion from S&P Global that election spending could risk Australia's AAA credit rating. The agency expressed concern about high public spending, while both main parties in the upcoming May 3 election have pledged significant funds for housing, healthcare, and energy.

Key Facts:

• Anthony Albanese, Australian Prime Minister, has disregarded warnings that heavy election spending could endanger the country's top-tier AAA credit rating.
• The warning was issued by S&P Global, a financial services company, citing high levels of public spending in Australia
• Both major parties in the Australian election, scheduled for May 3, have committed to substantial spending on areas like housing, healthcare, and energy.
• A country's credit rating reflects its ability to pay back loans; a AAA rating is the best rating, meaning the country can borrow money at lower rates.
• Currently, only 11 countries have an AAA sovereign credit rating from S&P, including Australia, Germany, and Denmark.
• Despite the warnings, neither major Australian party seems interested in increasing taxes to cover their spending plans, according to an author of the S&P Global report.
• Alongside the warning from S&P Global, the ruling Labor Party presented cost-cutting plans, which include reducing $6.4 billion in consultant costs and raising $760 million from heightened student visa application fees.

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BBC Business

Plans to extend sugar tax to milkshakes

BBC Business • April 29, 2025 • Business

The UK government plans to apply the existing sugar tax to milkshakes and other dairy-based drinks. In addition, the government also plans to lower the maximum sugar limit before beverages attract the levy.

Key Facts:

• The UK government is considering expanding the sugar tax to include milkshakes and other dairy-based drinks.
• Non-dairy substitutes like oat and rice drinks might also be included.
• The sugar tax, introduced in April 2018, is currently applied to fizzy drink manufacturers to discourage high sugar content.
• The maximum amount of sugar limit in drinks may lower from 5g to 4g per 100ml.
• If approved, around 203 pre-packaged milk-based drinks in the market could be affected by the tax, unless they lower their sugar content.
• The original exemption for milk-based drinks was due to concern about calcium intake, especially in children.
• Since the sugar tax's introduction, 89% of soft drinks sold in the UK are not subject to the tax due to recipe changes by manufacturers.
• The sugar tax has raised £1.9 billion since it was implemented in 2018.
• Consultation on these plans will continue until 21 July.

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BBC Business

Supermarkets turn down graduates as vacancies drop

BBC Business • April 28, 2025 • Business

Young people in the UK are having difficulty finding jobs, with graduates struggling to gain basic supermarket roles. There are less jobs available than before and the upcoming changes in workers' rights and increasing employment costs are causing employers to be more cautious in hiring.

Key Facts:

• Young individuals are experiencing struggle in finding work in the UK.
• UK graduates, including those with Master's degrees, are being turned away from even basic job roles in supermarkets.
• Due to increasing employer costs and transformations in workers' rights, retailers are scaling back their hiring.
• As a result, jobs available in the UK have fallen to 781,000 in the first part of the current year.
• The rising cost of employment is believed to be the cause behind businesses' reluctance to hire new staff.
• Law changes could result in reduced staff numbers and less flexible job offerings in the retail sector, according to a British Retail Consortium survey.
• Over the last five years, approximately 250,000 jobs have been lost in retail.
• Owing to these effects, part-time roles have decreased by 200,000 since 2017.

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BBC Business

ChatGPT AI bot adds shopping to its powers

BBC Business • April 28, 2025 • Business

The viral AI bot, ChatGPT, created by OpenAI, is now able to assist with online shopping. It can provide users with prices, reviews, and personalized product recommendations.

Key Facts:

• The AI bot ChatGPT by OpenAI is adding shopping features.
• The shopping feature will allow users to see prices, reviews, and get product recommendations.
• The product choices provided by ChatGPT are independent and not advertisements.
• ChatGPT's shopping feature aims to make finding, comparing, and buying products faster.
• OpenAI will also update/upgrade other aspects of its search product, which includes providing live sports scores and more citations in its answers.
• Despite this, Google is still the leading company in online searches, with about 89% of global traffic.
• Other companies, like Amazon and Perplexity, have also launched their own AI shopping tools.
• The new feature will be available to all users soon, after a few days of rollout.

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BBC Business

Flights cancelled in Portugal and Spain due to power cut

BBC Business • April 28, 2025 • Business

A large power cut in Spain and Portugal led to the cancellation of several flights and disruption to rail and road networks. Although the reasons behind the outage are still unknown, restoration of power is expected to take between six to ten hours.

Key Facts:

• A major power outage occurred in Spain and Portugal, causing disruption in various sectors.
• The power cut led to the cancellation of 96 flights from Portugal and 45 from Spain.
• Airports in Lisbon, Barcelona, and Madrid are most affected by the disruptions.
• Power restoration is expected to take between six and ten hours, according to the head of Spain's electricity grid.
• Also impacted by the power outage were rail and road networks, causing further disruption to the transport system.
• No flights from the UK to Spain have been cancelled.
• Despite the wide-scale power outage, Spain's national airline Iberia claims its systems are "operating at 100%".
• Spain's Transport Minister suggested that medium and long-distance trains might not resume normal service on the same day of the power cut.

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BBC Business

UK growth forecast cut over tariff uncertainty

BBC Business • April 28, 2025 • Business

The UK's economy is expected to grow slower than we thought before because of some issues with trade caused by US tariffs, according to an economic forecasting group. The forecast for this year has been lowered from 1.0% to 0.8%, and next year's forecast has been lowered from 1.6% to 0.9%.

Key Facts:

• The EY Item Club, a group that guesses how the economy will do, has lowered its growth prediction for the UK's economy.
• This year’s growth forecast is now 0.8%, which is smaller than the 1.0% they guessed before.
• The same group has also lowered the growth guess for 2026 from 1.6% to 0.9%.
• The US has recently put taxes on goods from the UK and other countries; these extra costs are causing problems for businesses and customers.
• Businesses might not spend as much money because everything is so uncertain right now.
• The International Monetary Fund, another group that looks at money stuff, also thinks the UK economy won't grow as much as they thought before.
• The US is a big customer for the UK, buying about 16% of the UK's goods that are sold to other countries.
• The group expects UK exports to drop a little in 2025 and 2026.
• However, it's not all bad news. The service sector in the UK is still expected to grow this year, and the Bank of England might lower interest rates, which could encourage more spending.

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BBC Business

DHL lifts suspension of high-value deliveries to US

BBC Business • April 28, 2025 • Business

DHL, a big delivery company, stopped delivering items worth more than $800 to the US because new rules made their job harder. But now, after talking to the US government, they will start doing it again.

Key Facts:

• DHL had stopped delivering expensive items (more than $800) to the US.
• They stopped because new rules made by President Trump's government made their job too difficult.
• But now, the company and the US government have talked and fixed the problem.
• So DHL will start doing those deliveries again.
• The US government is also trying to change other delivery rules.
• Two big companies, Shein and Temu, have said they will have to raise their prices because of the new rules.
• Some packages from China and Hong Kong might also be affected by these rule changes.

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BBC Business

Airbus confirms deal for Spirit operations in Belfast

BBC Business • April 28, 2025 • Business

Airbus, a big company that makes airplanes, has finished a deal to take over part of another company called Spirit AeroSystems in Belfast. The deal means Airbus will own the place where wings for a certain type of airplane are made and assembled.

Key Facts:

• Airbus is a company that makes planes. Recently, they made a deal to take over part of a company called Spirit AeroSystems in Belfast.
• The deal was officially announced about a year ago.
• This deal includes some work that Airbus does at a place in Scotland.
• Airbus says they bought the place in Scotland to keep making parts without interruption, but they will think about their plans for it in the future.
• The part of Spirit in Belfast that Airbus is taking over makes and puts together wings for the A220 airplane, a type of plane built by Airbus.
• If no one else buys the rest of the Belfast site, Airbus will also start doing some more work there.
• The deal doesn't affect the workers who don't work on Airbus stuff at the Belfast site. Their future is uncertain.
• Airplanes have many parts, and different companies are good at making different parts. This deal is part of a bigger plan by big airplane companies (like Boeing and Airbus) to get some of the parts they need.

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BBC Business

School uniforms 'to get cheaper' for millions under new law

BBC Business • April 28, 2025 • Business

The government in England is thinking about changing school uniform rules. This would affect more than four million students, making them have fewer items with their school's logo. The government hopes this will help families save money.

Key Facts:

• Over four million students across England will be affected by the proposed changes to the school uniform policy.
• The government wants to limit the amount of clothes with school logos to three items and a tie for older kids.
• The changes are part of a bigger plan called the Children's Wellbeing and Schools Bill. This bill is not a law yet.
• The government thinks these changes will make parents save about £50 per child.
• The average cost of a full school uniform and sports clothes is £442 for older kids and £343 for younger kids.
• School clothing stores warn that the changes might actually make things more expensive.
• They think families will end up buying cheaper clothes that don't last as long, making them spend more money in the end.
• A uniform exchange in Darlington has given about 12,000 items to 4,000 customers for free in the last five years.

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BBC Business

There are signs Trump could be ready to retreat on tariffs

BBC Business • April 27, 2025 • Business

President Trump's tariffs, or taxes on items imported from other countries, have caused a lot of chaos and confusion. Now, it seems like the U.S. might be considering stepping back from these tariffs.

Key Facts:

• President Trump imposed these tariffs (or import taxes) on some goods from other countries.
• These tariffs have resulted in a lot of uncertainty and disorder in the economy, across the world.
• Many countries expressed their worry and frustration when coming together for a meeting with the International Monetary Fund (IMF).
• Some countries that sell more goods to America than they buy from America were unhappy, feeling that these tariffs were targeting them unfairly.
• There was talk of the U.S. easing off the tariffs, especially toward China, but no official meeting took place between the U.S. and Chinese officials.
• Many people believe that the United States is slowly backing away from these tariffs.
• Some big companies like Walmart and Target have warned the President that these tariffs might cause empty shelves in their stores by early May.
• The number of delivery containers being shipped from China to Los Angeles has decreased, signaling a slowdown in trade.

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BBC Business

Struggling students skip meals as living costs rise

BBC Business • April 27, 2025 • Business

Some university students in Wales are not eating meals because they can't afford the rising costs of living. A new program has started that gives out free meals to help combat this problem.

Key Facts:

• Kardo Mina, a law student at Swansea University, sometimes substitutes meals for coffee as it is less expensive.
• A survey from the National Union of Students (NUS) Cymru says that 58% of students in Wales have missed meals because they had trouble paying rent and other housing costs.
• The average rent cost in Wales has increased by 8.9% in the last year.
• A new program named 'Nourish and Flourish' provides free meals for students at Swansea University. It is funded by Swansea Youth Bank and run by student volunteers.
• Kardo Mina's monthly living costs are usually between £700 and £800, and he is receiving meals from this program.
• Nandini Sheth, another student, has used the meal program to gain access to healthier food.
• The meal program provides a meal, dessert, and drink for 30 students, five days each week, during exam times.
• The program has helped students have more time to study and to be more prepared for exams.

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BBC Business

Fuels arrive to keep British Steel plant going

BBC Business • April 27, 2025 • Business

The British government has got the materials necessary to keep the British Steel plant in Scunthorpe running for a few months. A big amount of blast furnace coke from Australia and iron ore from Sweden will be shipped in.

Key Facts:

• The government got the supplies to keep the British Steel plant running for a couple of months.
• 55,000 tonnes of blast furnace coke arrived from Australia.
• More than 66,000 tonnes of iron ore pellets and 27,000 tonnes of iron ore fines are expected to come from Sweden soon.
• The supplies were paid for with money from the Department for Business and Trade.
• Many workers' jobs are safer because of these supplies.
• The government took over the steel plant from a Chinese company after setting a new rule.
• The government's plan saved about 2,700 jobs that might have been lost.
• The plant's goal is to keep running and be a top steel provider.

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BBC Business

M&S online disruption a 'bruise' to reputation, analyst says

BBC Business • April 27, 2025 • Business

The well-known store, Marks & Spencer, had to stop taking online orders because of a cyber attack. Now, they're trying to fix the problem and start selling online again.

Key Facts:

• Marks & Spencer, a big store, recently had a cyber attack. A cyber attack is when someone breaks into a system or website on the computer.
• Because of this attack, Marks & Spencer stopped taking orders on its website and apps.
• About one-third of the stuff they sell, like clothes and household goods, are bought online.
• Now, people are having trouble using contactless payments, click & collect, and gift cards, but Marks & Spencer is starting to fix these problems.
• The store apologized for any trouble and is giving back the money for orders made on one particular Friday.
• The online grocer, Ocado, sells Marks & Spencer food but is not having any problems because it uses a different system.
• Some believe Marks & Spencer may lose money because people will start buying from other brands.
• Last year, Marks & Spencer sold nearly £1.3bn of clothes and home goods online.
• Marks & Spencer has reported the cyber attack to cyber security and crime agencies.

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BBC Business