Trump's Anti-Harvard Campaign Fuels Interest in UK Universities
For the past 15 years, Don McMillan, a college-admissions consultant, has worked just down the road from Harvard University, one of the most prestigious schools targeted by his clients from the US and around the globe.
This month, he expanded his business 3,000 miles (4,800 kilometers) and an ocean away to tap into what's becoming a rapidly growing line of work: Advising the students who are souring on America and looking to go to college in the UK instead.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
33 minutes ago
- Yahoo
Lotus considering shifting UK production to US
Sportscar maker Lotus is considering ending production at its home in the UK in favour of setting up a new plant in the US, the BBC understands. Such a move would put 1,300 jobs at risk at its headquarters in Hethel, Norfolk. Lotus refused to comment when asked about any plans, which were first reported by the Financial Times, but sources within the company told the BBC the situation is under review and taking production to the US was under consideration. It comes after production in Hethel was temporarily suspended due to disruption caused by the introduction of tariffs on cars being imported to the US. America is a major market for Lotus but tariffs threaten its business, with US sellers required to pay taxes of 25% on imports of cars and car parts. Figures released on Friday for the UK's car industry revealed exports to the US had halved as President Donald Trump's tariffs caused some car makers to halt shipments. The UK government and Trump administration have agreed a deal to lower tariffs on UK-made cars entering the US to 10%, but it is not due to come into force until the end of June, meaning manufacturers have had to pay the higher rate to date. Lotus is majority owned by the Chinese group Geely, which is in the process of reorganising its diverse portfolio of car brands, which also include Volvo, Polestar and Lynk and Co. The company currently builds cars in Norfolk and in Wuhan, China. Lotus was founded in the early 1950s by engineer Colin Chapman, moving to Norfolk in the 1960s. In April, the carmaker announced 270 jobs would be cut "amid volatile and evolving market conditions including the US tariffs". The decision followed previous job losses last year, but the company said it remained "committed to the UK" and that the restructuring was "vital to enhance our competitiveness". President Trump has raised taxes on various goods entering the US in recent months in an attempt to encourage businesses and consumers to buy more American-made goods. Car shipments to the US already incurred a 2.5% tariff, but now face higher rates. However, if a deal with the US had not been reached, UK exports would have been taxed at 27.5%, as opposed to 10%. The lower tariff only applies to 100,000 British cars being imported to the US per year, which matches the number of vehicles the UK exported across the Atlantic last year. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
35 minutes ago
- Yahoo
Lotus's UK factory threatened with closure by Chinese owner
The Chinese owner of Lotus is threatening to close the sports car maker's historic British factory after nearly 60 years of production. Geely, which has owned a controlling stake in the marque since 2017, is understood to be considering shutting the plant in Hethel, Norfolk, as it simultaneously eyes a new site in the US. It would mean the loss of 1,300 local jobs and deal a fresh blow to British carmaking following similar closures by Vauxhall owner Stellantis, Ford and Honda in recent years. The threat has echoes of the attempt by China-based Jingye Group to close the blast furnaces at British Steel's plant in Scunthorpe earlier this year, a move that prompted the Government to swoop in and take control of the business. On Friday evening, a spokesman for Lotus declined to comment on 'rumours and speculation'. The company is understood not to have made a final decision. However, the closure plans are under active discussion and production could end permanently as soon as next year, according to the Financial Times, which first reported the story. Production at Hethel has already been on hold since mid-May following Donald Trump's decision to impose tariffs on foreign cars shipped to the US. Lotus said the decision had been taken to manage inventory and supply chain issues caused by the 27.5pc tariffs on British vehicles. A spokesman insisted this was temporary, adding: 'Production will restart in the next four weeks.' However, it is understood that the longer-term future of the plant remains uncertain. That is despite Geely having previously pumped £500m into a modern revamp of Hethel's production lines, aimed at boosting their capacity from 1,500 cars a year to more than 5,000. Other carmakers including Jaguar Land Rover and Aston Martin also paused shipments to the US temporarily amid fears that buyers, particularly those interested in luxury vehicles, would hold off from making purchases until the trade dispute was resolved. Most will have resumed from next week when a new UK-US trade deal comes into force, reducing tariffs on British cars to 10pc. Since its takeover by Geely, Lotus has pivoted towards making luxury 'lifestyle' cars including its Eletre electric SUV and the Emeya, an electric grand tourer. Both of these cars are made by Geely in Wuhan, China. At Hethel, the company makes the Emira sports car – the last traditional petrol vehicle the company will ever make – and small numbers of the Evija electric hypercar. More recently bosses have talked about launching a new plug-in hybrid model towards the end of this year after sales of its EVs did not 'tally with expectation'. The company has been based at Hethel for 59 years, in converted hangars that previously housed US air force bomber squadrons during the Second World War. Mike Johnstone, the former chief commercial officer who left in April last year after 18 months in the job, previously told The Telegraph that the company's 'heart and soul is in the UK'. However, Lotus listed on the New York stock market last year and Feng Qingfeng, the current chief executive, this week raised the prospect of opening up a factory in America to avoid Trump's tariffs. Speaking to analysts and investors on a call, Mr Qingfeng said: 'In the future, we are trying to leverage our US strategy to catch up the losses due to the tariff hike. 'At this moment, we are discussing with our strategic partners in the US on localisation plans in order to avoid the influence of the US tariff. 'We believe that localisation is a feasible plan. We will continue to explore the US market with our [plug-in] and also [electric] products.' Revelations about the Hethel factory's potential closure emerged on Friday as figures separately showed that British car manufacturing had fallen to its lowest level since 1949. New car and van production dropped by 33pc in May to 49,810 vehicles, the Society of Motor Manufacturers and Traders said, as Trump's tariffs blitz prompted brands to freeze their lines and pause shipments. Excluding the coronavirus pandemic in 2020, when factories were forced to close entirely, this was the lowest level of output in 76 years. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
36 minutes ago
- Bloomberg
What the Lakers' $10 Billion Valuation Means for the Future of Sports
On today's Big Take podcast, what the Lakers' record-breaking sale means for the city of Los Angeles, the business of sports and fans. By and Rachael Lewis-Krisky Save Never miss an episode. Follow The Big Take daily podcast today. Late last week, the Buss family, longtime owners of the Los Angeles Lakers, announced that they would sell the franchise for a record-breaking $10 billion valuation.
