Octopus Energy Eyes Demerger of Tech Arm Kraken, Sky Says
The firm is close to hiring bankers to separate Kraken, which licenses an operating system to utilities. The unit could be valued as much as $14 billion, Sky reported, citing one of the people.
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Delta's Clever Fix for Jet Shortages and Tariffs
Delta (NYSE:DAL) is getting creative to dodge Europe's tariffs and tackle a jet-engine crunch by yanking engines off grounded A321neos in Europe and fitting them into older Airbus planes back home. Warning! GuruFocus has detected 4 Warning Sign with DAL. Since the new A321neos are stuck overseas awaiting seat approvals, Delta's been shipping their Pratt & Whitney engines back to the U.S. to swap into aging jets that need turbine work. Once Washington and Brussels hammer out a trade deal, Delta can sail those fresh Airbus jets into the U.S. tariff-free, avoiding extra costs on each delivery. With planes grounded and tariffs looming, this engine shuffle tackles two headaches at once: keeping older aircraft flying and sidestepping potentially steep import duties. CEO Ed Bastian says they'll keep moving engines around as needed, making sure Delta doesn't pay a cent more in tariffs while keeping its fleet humming. This article first appeared on GuruFocus. 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
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Trump Announces 30% Duties on EU, Mexico
President Donald Trump revealed he isn't taking the weekend off as he released two open letters to prominent American trading partners informing them of steep new duty rates. On Saturday, the Commander in Chief took to Truth Social to post his missives to Mexican President Claudia Sheinbaum and European Commission President Ursula von der Leyen, telling both that the countries they represent will face 30-percent duties on goods across the board beginning Aug. 1. More from Sourcing Journal US Apparel Imports From China Fell to a 22-Year Low in May Amid Trade War Escalation US-Brazil Trade Battle Puts Shoe Firms in Crossfire Trump Hits Canada With 35% Tariffs In his letter to Sheinbaum, Trump reinvigorated earlier claims that Mexico has aided in the 'pouring' of drugs like fentanyl into the U.S. market and failed to control the activities of criminal cartels. 'Mexico has been helping me secure the border, BUT, what Mexico has done, is not enough,' he wrote. The colloquial style of the communication underscored Trump's familiar relationship with Sheinbaum, with whom he has been negotiating for months. As in previous letters, Trump stated that the new duty rate excludes already established sectoral tariffs, and he wrote that transshipment or retaliatory duties will result in stacked taxes to Mexican imports. The letter did not mention whether U.S.-Mexico-Canada Agreement-covered (USMCA) products would be exempt from the new tariffs, though a White House spokesperson told Politico Friday that Canada's USMCA-compliant products would remain duty-free under the trade agreement, which is due to be revisited in July 2026. The tenor of Trump's letter to von der Leyen was different, belying a frustration that the 27-member European trade bloc and the U.S. have not been able to reach a consensus about the future of their trade relationship. 'We have had years to discuss our Trading Relationship with The European Union, and have concluded that we must move away from these long-term, large, and persistent, Trade Deficits, engendered by your Tariff, and Non-Tariff, Policies and Trade Barriers,' the president wrote. He struck a more threatening tone as he addressed the European leader, declaring, 'The European Union will allow complete, open Market Access to the United States, with no Tariff being charged to us, in an attempt to reduce the large Trade Deficit.' As in previous communications with world leaders, Trump emphasized that if the trade bloc retaliates with its own duties, its tariff rate only stands to grow. The 30-percent tariff comes as a surprise given that American officials, like U.S. Trade Representative Ambassador Jamieson Greer, have been negotiating ceaselessly in recent weeks with members of the European Commission. A principle agreement presented to Trump last week involved the levying of 10-percent duties, which the trade bloc said would cause major pain to exporters. Reportedly, von der Leyen was informed of the contents of the president's letter in advance of its social media debut. 'A 30% tariff on EU exports would hurt businesses, consumers and patients on both sides of the Atlantic,' she wrote on Twitter shortly after the announcement. 'We will continue working towards an agreement by August 1. At the same time, we are ready to safeguard EU interests on the basis of proportionate countermeasures.' Sign in to access your portfolio
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Primark's new chief customer and digital chief to boost brand focus
International fashion retailer Primark has named Matt Houston as its chief customer and digital officer to strengthen brand experience. Houston will oversee the integration of Primark's customer and digital teams, streamlining the brand experience across various platforms and interactions. The move aims to maintain a customer-centric approach throughout Primark's operations. Houston previously played a key role as Primark's group strategy and digital director. He was instrumental in establishing the retailer's digital presence, which included expanding the digital marketing team, relaunching the customer website and introducing a Click and Collect service across all UK stores. The appointment follows as Michelle McEttrick departs her role as chief customer officer at Primark after a tenure that began in September 2022. Matt Houston stated: 'I'm excited to step into this role at such a pivotal time for Primark. Bringing together our customer and digital teams is a great opportunity to strengthen how we show up as one brand across every touchpoint. I'm looking forward to building on the strong foundations already in place to deepen customer engagement and help drive the next phase of growth for Primark.' Primark is set to launch its inaugural store in the US state of Tennessee, located in the Wolfchase Galleria in Memphis, on 24 July 2025. Primark interim CEO Eoin Tonge stated:'Bringing together our customer and digital teams creates a stronger, more integrated function that will unlock new opportunities for the Primark brand and play a key role in driving our international growth. Matt's deep understanding of our business model, combined with the experience he brings from leading the digital team, will help us build even stronger connections with our customers, creating value and accelerating growth'. "Primark's new chief customer and digital chief to boost brand focus" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
