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China hits back at Donald Trump with its own tariffs on US goods

China has hit back at Donald Trump's decision to impose tariffs on $50bn (£37bn) worth of its goods by responding in kind as the tit-for-tat trade war heats up. ​The US president yesterday unveiled the 25 per cent tariffs, designed to combat what he says is China's theft of America's intellectual property. The US says it wants to stop the transfer of its
Money

Former Trump campaigner manager Paul Manafort jailed

Donald Trump's former campaign manager Paul Manafort has been jailed pending trial after he was found by a Washington judge to have breached the conditions of his bail. Manafort has been charged with tax fraud, money laundering and illegal lobbying. All the charges relate to the time before he was placed at the top of Trump's campaign. Last night he was accused
Money

China vows to retaliate to Donald Trump’s tariffs on $50bn of goods

China's foreign ministry has said it will hit back Donald Trump's plan to plaster tariffs on $50bn (£37bn) worth of its imports. Spokesman Geng Shuang said Chinas response would be immediate and that Beijing would “take necessary measures to defend our legitimate rights and interests”. Trump has long threatened to impose tariffs on Chinese as part of his
Money

David Lidington says UK wants close security ties with EU after Brexit

The UK is seeking the “closest possible cooperation agreement” with Europe on security and foreign policy when it leaves the bloc, cabinet minister David Lidington has said. Speaking to Frankfurter Allgemeine newspaper, Lidington, who serves as Theresa May's number two following the resignation of Damian Green, said Britain would be tempted to join a crisis
Money

The end of the road: Equitable Life sold for £1.8bn to LCCG

Life Company Consolidation Group (LCCG) is buying Equitable Life for £1.8bn 18 years after the company was forced to close to new business in 2000. The worlds oldest mutual assurer was at the heart of a financial scandal back then with many policyholders losing out, and had been closed to new business since. It has hundreds of thousands of policyholders and they will
Money

Brussels clears Comcast bid for Sky

The European Commission has approved Comcast's bid for Sky, turning up the heat in the battle with 21st Century Fox for the broadcaster. Brussels authorities said that the proposed merger raised no competition concerns in Europe. "The commission found that the proposed transaction would lead to only a limited increase in Sky's existing share of the markets for
Money

Oxfam is cutting some jobs and aid programmes after misconduct scandal

Oxfam is to make £16m worth of cuts after donors abandoned the charity in the wake of a sexual misconduct scandal. An internal document seen by The Guardian told staff that the charity has to make savings in order to get on a "more stable and sustainable footing". Job losses will be "inevitable", according to the letter from chief executive Mark Goldring. Some town
Money

Fixed odds betting terminals £2 stake limit delayed until 2020

The cap on betting machine wagers announced in May will not come into force for two years, it has emerged. A new £2 maximum stake had been expected to come in at least a year earlier, but The Times reported today that it will be postponed following discussions between bookies and the treasury. It is not the first time the treasury has frustrated the process. Last year it
Money

Stobart Groups crisis ignites the governance tinderbox

Now things are getting messy. If the situation wasnt already heated enough, Stobart Groups decision yesterday to oust former chief executive Andrew Tinkler as a director and sue him for breach of contract and fiduciary duty has ignited a tinderbox beneath one of the Citys most combustible boardrooms. The allegations – that Tinkler sought to structure corporate deals for