FTSE 100 hits new record as investors fish for non-US stocks
The London index has staged a significant recovery since suffering sharp drops in the days after Donald Trump's tariff announcements on April 2. It had its worst day of trading since the start of the Covid pandemic, while European, US and Asian indexes also took a battering.
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The Sun
29 minutes ago
- The Sun
Club World Cup 2025: Bet £10, get £40 in free bets and bonuses with Parimatch
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Reuters
an hour ago
- Reuters
U.S. Steel shares slip as Nippon Steel faces Trump's hurdle over control
June 13 (Reuters) - Shares of U.S. Steel dipped in premarket trading after a Nippon Steel executive told the Japanese Nikkei newspaper that its planned acquisition of the company required "a degree of management freedom" to go ahead, after President Donald Trump said he would exercise "total control" over the U.S. steelmaker. The comments signal that last-minute discussions continue regarding the structure of the deal, which was opposed by then-U.S. President Joe Biden and Trump when it was first proposed. Trump said on Thursday that the U.S. will have "a golden share", opens new tab in U.S. Steel. "It's 51% ownership by Americans," Trump said while speaking to reporters at the White House. He did not provide details on how the arrangement would be structured. The $14.9 billion deal was first announced in December 2023 to opposition across the U.S. political spectrum, and has run a long, uncertain route in the year-and-a-half since. U.S. Steel shares fell 4% in premarket trading on Friday. Trump's public comments, ranging from welcoming a simple "investment" in U.S. Steel by the Japanese firm to floating a minority stake for Nippon Steel, have created confusion. Last month, Trump told reporters the deal still lacked his final approval, leaving unresolved whether he would allow Nippon Steel to take ownership.
The Sun
an hour ago
- The Sun
‘Son of Concorde' bosses reveal over 600 routes could see flight times HALVED including 3.5-hour trips from UK to US
Jamie Harris, Assistant Technology and Science Editor Published: Invalid Date, MAKERS of a supersonic plane have revealed there are more than 600 global routes where Concorde-style speedy flights could slash flying times by as much as half. And a 3.5 hour trip between the UK and US is "absolutely" possible, the company told The Sun. 2 2 Boom Technology has been testing its XB-1 test jet which managed to fly faster than the speed of sound in January. One of the hurdles they've overcome from supersonic flying is the sound. The firm's jet, aptly dubbed the "Son of Concorde", has no audible sonic boom. A number of orders from the likes of American Airlines, United Airlines, and Japan Airlines have already been made for Boom Technology's passenger jet model, Overture. President Trump recently signed an executive order effectively lifting a 52-year ban on civil supersonic flight over land in the US. "While Boom is pleased to see the regulatory pathways to supersonic flight clearing, Boom's business case has never been predicated on regulatory change," a spokesperson for Boom told The Sun. "There are over 600 global routes that are economically viable for supersonic flight—even without going supersonic over land. "Now that rules are being updated to allow boomless supersonic flight over land in the US, additional routes will benefit from speedups. "Boom's supersonic airliner, Overture, will fly transatlantic routes, such as New York to London, at its full cruising speed of Mach 1.7 over water – about twice as fast as today's conventional airliners." "Boomless Cruise enables Overture to fly at speeds up to Mach 1.3 over land without an audible boom - up to 50% faster than subsonic jets - reducing US coast-to-coast flight times by up to 90 minutes. "International routes with overland segments can also benefit from increased speeds." The company also revealed that Overture "remains on target" to get certification from relevant bodies including the FAA by the end of the decade so it can carry passengers. Bosses are aiming to roll out the first Overture in three years, and be flight testing in four. To accomplish that, they expect production of the first aircraft in the "Superfactory" to start next year. WHY DID CONCORDE FAIL? CONCORDE was the supersonic passenger jet considered the ultimate luxury in air travel. Air France and British Airways announced they would be retiring their fleet of Concorde planes on April 10, 2003. The plane had its first commercial flight on January 21, 1976, so was retired after 27 years of service and 50,000 flights. Several reasons led to the decision to retire Concorde. Air France and British Airways cited low passenger numbers and high maintenance costs. By the early noughties, the planes were outdated and expensive to run, despite being incredibly advanced when they were first introduced almost three decades previously. The 9/11 terrorist attack in 2001 majorly impacted passenger numbers, as people opted not to fly. Passenger numbers also fell after an Air France Concorde crashed just minutes after taking off from Paris in July 2000. The disaster killed all 109 people on board and four others on the ground. The plane ran over a small piece of metal on the runway, which burst a tyre and caused an engine to ignite. It was also the only aircraft in the British Airways fleet that required a flight engineer. Image credit: Alamy By the end of this year, they expect to produce thrust during fully-operational engine core tests for Overture's bespoke engine, Symphony. "Boom's current order book accounts for the first five years of production at the Overture Superfactory in North Carolina," the spokesperson added. "Airlines have been very receptive to Overture and the competitive advantages of supersonic travel. "In fact, the passenger research we have conducted indicates that 87% of passengers are willing to switch from their preferred airline in order to gain access to supersonic travel." THE RISE OF SUPERSONIC AND HYPERSONIC There are several types of hypersonic and supersonic jets. A breakdown of what's been happening in the industry and what's expected in the coming years. Talon-A Built by Stratolaunch Reported speeds of Mach 5 The first test flight conducted in 2024 X-59 Quesst Built by Nasa and Lockheed Martin Predicted max speeds of Mach 1.4 The first test flight in 2024 - but subject to delays Venus Stargazer M4 Built by Venus Aerospace and Velontra Predicted max speeds of Mach 6 First test flight in 2025 Quarterhorse MKII Built by Hermeus Predicted max speeds of Mach 2.5 First test flight in 2026 Halcyon Built by Hermeus Predicted max speeds of Mach 5 First test flight by 2030 Nanqiang No 1 Built by China's hypersonic plane programme Predicted max speeds of Mach 6 First test flight in 2025 DART Built by Hypersonix Launch Systems Predicted max speeds of Mach 7 First test flight in 2025
