Sweden eyes purchase of military vehicles with, Norway, Lithuania, Finland
STOCKHOLM, April 22 (Reuters) - Sweden, Lithuania, Norway and Finland are looking into making a coordinated acquisition of BAE Systems' (BAES.L), opens new tab CV90 infantry combat vehicle, Swedish Prime Minister Ulf Kristersson said on Tuesday.
Kristersson told a joint press conference with his Lithuanian counterpart Gintautas Paluckas that the countries discussed buying "several hundred" CV90s, and that a statement of intent on cooperation for the vehicles was being drafted.
The CV90 is produced by a Sweden-based subsidiary of Britain's BAE Systems, Europe's biggest defence company.
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Reuters
20 minutes ago
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China's forex reserves up $3.6 billion in May, less than expected
BEIJING, June 7 (Reuters) - China's foreign exchange reserves rose by a less-than-expected $3.6 billion in May, official data showed on Saturday, as the dollar continued to weaken against other major currencies. The country's foreign exchange reserves, the world's largest, rose 0.11% to $3.285 trillion last month, below the Reuters forecast of $3.292 trillion. They were $3.282 trillion in April. The increase in reserves was due to "the combined effects of factors such as exchange rate conversion and asset price changes," China's State Administration of Foreign Exchange said in a statement. The yuan weakened 1.05% against the dollar in May, while the dollar slid 0.23% against a basket of other major currencies .
Scottish Sun
an hour ago
- Scottish Sun
All the shops closing this weekend including iconic department store shutting after 124 years
We reveal why the retail sector is struggling below SHUTTERED UP All the shops closing this weekend including iconic department store shutting after 124 years A HOST of stores are shutting for good this weekend including a historic department store. Retailers have struggled over recent years as shoppers' wallets and purses take a hit from high inflation. Advertisement 1 A range of stores are shutting this weekend Credit: Alamy An increase in employer National Insurance contributions and wage costs since April has added to the pressure. Combined with soaring business rates, energy and rental costs, some retailers have been forced to hike prices and even shut stores. It's worth bearing in mind of course that retailers close shops for a host of reasons and not always because of a poor economic backdrop. Sometimes chains will shut a poorly-performing branch in one area and open another further afield where they think they'll see better footfall. Advertisement Plenty of retailers are moving away from high streets and towards out-of-town retail parks too. In any case, five shops will shut this weekend including a more than 120-year-old department store. Here is the full list of shops we know are closing down permanently. Ginger Norwich-based Ginger will pull down its shutters for the final time on Saturday. Advertisement The shop was founded by David and Rodger Kingsley in 1978 following the success of their sister company Jonathan Trumbull in 1971. But current store manager Beckie Kingsley said the store will close due to the economic climate and aftermath of Covid-19. Britain's retail apocalypse: why your favourite stores KEEP closing down She said: "It's with truly heavy hearts that, after 46 unforgettable years, we have made the incredibly difficult decision to close the doors at our beautiful, beloved and historic Timber Hill home. "We've weathered many storms over the decades, but there's been ongoing challenges of today's financial climate - coupled with the lasting impact and huge shifts within the retail landscape since Covid. Advertisement "This led us to ask - does it still work for us? After deep reflection, the answer, sadly, is no." Daniel of Ealing Historic department store Daniel of Ealing, in London, will shut for good on Sunday, after opening 124 years ago. Prices have been slashed across homeware, fashion, toys, sportswear and shoes, with up to 50% off. Shoppers finding out the iconic shop will close have shared their dismay online. Advertisement One posted saying: "Loved this shop and it's top floor restaurant." While another added: "Ealing has lost its heart, soul and uniqueness!" The Works Stationer The Works is shutting its Margate store on Sunday, with shoppers' next nearest branches in Westwood Cross Shopping Centre or Ramsgate Garden Centre. A spokesperson for the chain said the decision to shut the branch had been made "as part of ongoing plans to optimise our store portfolio". Advertisement The move has been met with sadness by shoppers, with one online stating: "No I love The Works." Another dejectedly added: "Be nothing left in the town soon." Emporium Worthing Independent bar and shop Emporium Worthing is closing to the public on Sunday "with a heavy heart". The owners posted a lengthy statement on Facebook announcing the closure. Advertisement It said: "We share the challenging decision to close Emporium Worthing after five memorable years of serving you. "This has been a tough choice for us, but after careful reflection, we believe it is the best path forward and the right choice for us at this time." A huge closing down sale has been launched to clear stock, even including fixtures and fittings from inside. It's not all bad news though as the Emporium will be moving online and selling hardwares. Advertisement New Look New Look is closing its branch in the Northfield Shopping Centre, Birmingham, on June 8. A picture recently posted on Facebook of the shop window advertised the closure and signposted customers to the retailer's website. Customers finding out about the closure have been left gutted. One posted on Facebook: "Will soon be a ghost town, absolutely nothing left." Advertisement Another commented: "Online (retail) is killing shops." A New Look spokesperson said: "We would like to thank all of our colleagues and the local community for their support over the years. "We hope customers continue to shop with us online at where our full product ranges can be found." RETAIL PAIN IN 2025 The British Retail Consortium predicted that the Treasury's hike to employer NICs would cost the retail sector £2.3billion. Research published by the British Chambers of Commerce earlier this year shows that more than half of companies planned to raise prices by early April. Separately, the Centre for Retail Research (CRR) has also warned that around 17,350 retail sites are expected to shut down this year. It comes on the back of a tough 2024 when 13,000 shops closed their doors for good, already a 28% increase on the previous year. Professor Joshua Bamfield, director of the CRR said: "The results for 2024 show that although the outcomes for store closures overall were not as poor as in either 2020 or 2022, they are still disconcerting, with worse set to come in 2025." Professor Bamfield has also warned of a bleak outlook for 2025, predicting that as many as 202,000 jobs could be lost in the sector. "By increasing both the costs of running stores and the costs on each consumer's household it is highly likely that we will see retail job losses eclipse the height of the pandemic in 2020." Do you have a money problem that needs sorting? Get in touch by emailing money-sm@ Advertisement Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories
Scottish Sun
6 hours ago
- Scottish Sun
Bitter Trump-Musk breakup forces allies to take sides as MAGA influencers quip Don's ‘not invited to Mars anymore'
LAWMAKERS have been forced to pick sides after President Donald Trump and Elon Musk's bromance came to a screeching halt. Democrats and Republicans are scrambling to pledge their allegiance after Musk called for Trump's impeachment and hurled unfounded accusations about the Epstein files. 7 Elon Musk's feud with President Donald Trump has left some MAGA loyalists picking sides Credit: Reuters 7 The feud erupted over Trump's 'big, beautiful bill,' which proposed stripping billions in government subsidies from Tesla Credit: AP 7 The drama unfolded when Musk disapproved of Trump's "Big Beautiful Bill," calling it a "massive, outrageous, pork-filled Congressional spending bill." Trump said the world's richest man was furious because the bill proposes stripping billions in government subsidies from Musk's electric vehicle company Tesla. The two exchanged digital blows with searing social media posts until late Thursday night, when White House aides were said to have scheduled a call between the bitter rivals. RECONCILIATION REJECTED Musk appeared to have offered a possible olive branch when he responded to a post on X from hedge fund manager Bill Ackman. Ackman called for reconciliation, "for the benefit of our great country," and said, "We are much stronger together than apart." In a telling reply, Musk said, "You're not wrong." Speaker Mike Johnson raced to try to get Musk on the phone to negotiate a peace offering. He said they were trying to nail down a time to chat, but haven't been able to iron things out yet. But that all fell apart on Friday morning when Trump blasted Musk again and said he wasn't interested in talking anytime soon. Despite glimmers of hope, politicians and thought leaders have rushed to pick sides and share their two cents on the matter. Trump crushes hopes of 'peace talks' call with Musk as he insists Elon has 'lost his mind' after feud went nuclear Though many of them have been quick to stick to President Trump, not everyone is falling in line. TRUMP SUPPORTERS RALLY Support for Trump was immediate and forceful as allies rallied around the president. Johnson, who oversaw the passage of Trump's "big beautiful bill" in the House that prompted Musk's initial shot across the bow when he called the legislation a "disgusting abomination," was among the first to come to the president's aid. "Look, I know all of you are very concerned about [Musk's] tweets, but I think the American people are concerned about things that really matter," Johnson told reporters Thursday. How did Musk and Trump's relationship crumble? ELON Musk and Donald Trump spent Thursday launching insults on social media as their relationship quickly went sour. The Tesla owner called for Trump's impeachment as the president hit back and warned the government could end all federal contracts with Musk's companies. Here's how it went down: On Tuesday, Musk tweeted that Trump's signature "big beautiful" spending bill was a "disgusting abomination" that would add billions to the federal deficit On Thursday in the Oval Office, Trump addressed Musk's criticism of the bill and accused Musk of trying to kill it because the bill ends federal subsidies for electric vehicles Musk responded by live-posting on X as Trump spoke, initially shrugging off the president's assessment with an unbothered "Whatever," before tearing into the bill's other spending provisions Trump escalated the feud after the Oval Office meeting with multiple posts on Truth Social, saying he told Musk to leave the White House instead of continuing to work with Doge and threatening to dump Musk's federal contracts, which are worth billions Musk fired back on X by saying he was "decommissioning" the Dragon spacecraft made by SpaceX that brought the stranded Nasa astronauts back from the International Space Station in March Musk also escalated the war of words by reposting and replying "Yes" to a tweet claiming that Trump should be impeached and replaced by Vice President JD Vance Musk further fanned the flames by claiming that Trump is named in the infamous "Epstein files" and making unfounded accusations that its the reason they haven't been released to the public. "That is making their taxes low, making their economy work, making the border secure, making energy dominance a big thing again, and that's what our bill is going to do." Johnson said he supported Trump's massive tax and spending cuts bill, and called it a "historic step forward." Vice President JD Vance rushed to his bosses aid and blasted "lies the corporate media tells about President Trump." "One of the most glaring is that he's impulsive or short-tempered," he wrote. "Anyone who has seen him operate under pressure knows that's ridiculous." White House Press Secretary Karoline Leavitt said the feud was an "unfortunate episode from Elon," adding that he wasn't happy with the bill because "it does not include the policies he wanted." "As a businessman, he has a right to speak for his companies, but as president, President Trump has a responsibility to fight for this country," she told Fox News. CJ Pearson, who is the co-chair of the Republican National Committee Youth Advisory, made it clear who had his vote and confidence. "I'll be on the side of the guy that took a bullet for his country. Simple as that," he told the Daily Mail. 7 Representative Thomas Massie, a Republican from Kentucky, slammed Musk's claims, but added that he should be respected Credit: Getty 7 White House Press Secretary Karoline Leavitt praised the 'big beautiful bill' when she was asked about the feud Credit: Splash EPSTEIN CLAIMS 'RIDICULOUS' Other Republicans fumed over Musk's unfounded claim that Trump is named in files on sex trafficker Jeffrey Epstein and should be impeached. Leader of the House Task Force on the Declassification of Federal Secrets, Anna Paulina Luna, said the Epstein accusation was bogus. "The fact is, I do not believe that President Trump is in the Epstein files," she said. Representative Thomas Massie, a Republican from Kentucky who Musk supported, disagreed that Trump should be impeached but added that he still respects the Tesla CEO. "This is the language Trump speaks in. [Musk] is speaking it back to him," he said. Meanwhile, Tennessee Representative Tim Burchett argued that if Trump were in the files, it would've already be used against him politically. "Honestly, if any of that stuff was true on Trump, don't you think the Biden administration would have brought it out? I mean, that's just ridiculous," he said. There's no evidence that Trump had any involvement in Epstein's crimes. 7 Vice President JD Vance blasted the 'corporate media' for portraying Trump as short-tempered Credit: AP MAGA INFLUENCERS CAUTIOUS MAGA influencers remain divided on the feud, including Emily Wilson, known as Emily Saves America, who said that she "doesn't agree with doing this publicly and it's not a good look for us… compared to Democrats, our party at least goes for it. "We go with what we think and feel, we don't just fall in line with each other. I feel like Democrats are all shady and do everything behind closed doors and eat their own." Raquel Debono, who runs Make America Hot Again, jokingly said: "I guess Trump's not invited to Mars anymore." However, activist Robby Starbuck said MAGA is stronger "with Trump and Elon working together," and hopes the two can come together. "Elon is right to want a balanced budget and Trump is right to want his signature legislation. "Remember, our founders in America did great things, often fought and later made up. "This doesn't need to be a breakup if they let cooler heads prevail." Meanwhile, podcaster Joe Rogan, who endorsed Trump as president, called for Musk's phone to be thrown away. 7 White House aides reportedly set up a phone call between Musk and Trump to clear the air, but it fell through Credit: AP DEMOCRATS DIVIDED ON MUSK PRAISE The feud has had some in the Democratic party praising Musk, which has earned the ire of Pennsylvania Senator John Fetterman. "The Dems, we've been dumping all over Musk and vandalizing Teslas or whatever, and now, suddenly, we might be more back into him," he said. Fetterman warned the party against fawning over the billionaire. "It wasn't that long ago that Tesla was like the virtue-signaling kind of accessory for Dems," he said. "I would never want to vandalize Teslas, and the 'big, beautiful bill' is wrong for America. So, from my perspective, I've just tried to be consistent through that." WHO'S STAYING QUIET Some key decision makers are keeping to themselves until tensions cool. "I'm staying out of it," Representative Don Bacon, a Republican from Nebraska, told NBC News. "There's a good verse in Proverbs, 'Stay out of fights.' I'm staying out of this one." Representative Richard Hudson, a Republican from North Carolina, said that he has faith the feud will "blow over." When he was asked whether the two would make up, he merely shrugged.
