KFC parent Yum Brands names insider Chris Turner as CEO
June 17 (Reuters) - Yum Brands (YUM.N), opens new tab on Tuesday named its chief financial officer Chris Turner as its chief executive officer, replacing company veteran David Gibbs.
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Top Gear
17 minutes ago
- Top Gear
The US and UK have signed an agreement for a 10 per cent tariff on car imports
Business The reduced tariff now applies to the first 100,000 British-made cars imported into the States, but other details are missing Skip 1 photos in the image carousel and continue reading President Trump has officially signed an executive order giving the UK a more favourable 10 per cent tariff on car imports. Though, some bits and pieces are yet to be confirmed. More on that shortly. In broad terms, the tariff applies to the first 100,000 British-made vehicles imported by the USA. Now ratified, carmakers can begin to undo the temporary suspensions of their shipments and send stuff across the Atlantic again. The sighs from JLR, counting the US as its biggest market, are especially audible. Advertisement - Page continues below "We welcome the signing of the UK-US deal," the carmaker told "which gives a good level of relief from the steep and sudden US tariffs applied to the UK auto sector in April. We thank both governments and their teams for their work in bringing this deal about." SMMT boss Mike Hawes said: 'This is great news for the UK automotive industry, helping the sector avoid the severest level of tariffs and enabling many manufacturers to resume deliveries imminently.' You might like But it's not all gravy yet. There are still details to be announced 'in coming weeks' according to President Trump. They include confirmation of the tariff on steel and aluminium (a handshake agreement in principle is that the tariff will drop to zero). What's more, EU vehicles – for example, the Mini Countryman built in Germany – will still be liable for the higher 25 per cent blanket tariff. Ouch. Hawes added: 'We wait to see the full details of the deal and how it will be administered but this will be a huge reassurance to those that work in the sector and bolster the confidence of our important US customers. Advertisement - Page continues below "The fact the UK has secured a deal, ahead of many competitors, and which makes automotive a priority, should be recognised as a significant achievement.' Looking for more from the USA? Thank you for subscribing to our newsletter. Look out for your regular round-up of news, reviews and offers in your inbox. Get all the latest news, reviews and exclusives, direct to your inbox.
The Independent
35 minutes ago
- The Independent
Will the US-UK trade deal make Starmer popular again?
To general surprise, at least as to the location and the timing, the British prime minister and the American president have confirmed that the US-UK economic prosperity deal (EPD) has indeed been signed and will now be in force. It is the first, and only, trade deal of any kind to have been signed by the Trump administration since 'Liberation Day' on 2 April. It was a notable moment, but for Keir Starmer, one question will be how far it will go in helping his government recover from its rapid fall from grace since the general election... What's with the optics? Obviously, someone – possibly in the British embassy in Washington – came up with the idea of the president and his counterpart springing the announcement on the world's media when they were least expecting it, for maximum impact. So instead of the usual photo-op in the Oval Office, with Trump signing the executive order and then posing with it for the cameras, it was displayed in the open air at an impromptu press conference. The pages fell out of the presidential folder, to be retrieved by Starmer, but that just seemed to add to the easy informality of the occasion. The prime minister was allowed to address the president as 'Donald', and Trump said nice things about him. The British are to be shielded from further tariffs because, as Trump put it, 'I like them', and he thinks Starmer's team are 'great people'. What's missing? Steel, most urgently. The Americans insist that steel 'made in Britain' should be virgin and not dependent on raw materials from, let us say, China or the EU. For the steel works at Port Talbot that implies trouble, because the capacity to make such steel has been lost with the closure of the last blast furnace, now replaced with electric arc technology. So the ruinous 25 per cent tariff on UK steel exports to the US will stay, after all, and will rise to a prohibitive 50 per cent on 9 July. Politically, if Starmer can get the right conditions over the line by then and the threat of such tariffs subsides, it will mean a great deal to the voters in south Wales, who are being enthusiastically, if cynically, courted by Reform UK ahead of next year's Welsh parliament elections. Scunthorpe, too, should benefit from the deal, with a comparable electoral dividend. Any other winners? The car industry, especially Jaguar Land Rover, BMW and Aston Martin in the Midlands, plus Bentley in Crewe, Rolls-Royce in Sussex, and similar centres for export production. Aerospace actually escapes US tariffs completely, which is excellent news for manufacturing centres in Derby, the northwest, north Wales and Bristol. With the orders going in for new rails, girders, and the defence industry, the government can make some claim to be rebuilding the industrial base – although high energy prices remain an obstacle to competitiveness. The government, particularly Ed Miliband, has probably yet to win the argument that renewables are a cheaper and reliable alternative to fossil fuels. Even the farmers, badly disadvantaged in the Australian and New Zealand trade deals, have some protections against low-cost US imports. The economy as a whole? Broadly, on US trade, things are worse than they were under Joe Biden, but better than they would be without a deal. It's only fair to add that if the UK were still in the EU then a trade deal would not yet have occurred, although the EU's collective bargaining strength may in time prove to be a strategic advantage in securing better terms. In terms of growth, the net effects will be small, given that the 10 per cent US 'baseline' tariff implemented by the Trump administration remains on all other UK goods. But, again, the situation is undoubtedly better than it would otherwise have been. For a government and a nation desperate for growth, this partial relaxation of US taxes, the Indian free trade deal, and, most of all, the EU 'reset', should boost overall growth by a modest but useful amount. The EPD also has the promise of more cooperation on everything from financial services to AI. What could go wrong? The NHS uses its huge purchasing power to drive a hard bargain with US pharma giants, and these companies, along with the president, resent the way in which so much of the production of final products, and of the compounds used to manufacture them, has been outsourced by the US. There are vague but ominous-sounding words in the EPD about this: 'The United States and the United Kingdom intend to promptly negotiate significantly preferential treatment outcomes on pharmaceuticals and pharmaceutical ingredients. The United Kingdom confirms that it will endeavour to improve the overall environment for pharmaceutical companies operating in the United Kingdom.' The treatment of US pharma giants has long been a complaint of Trump's. A net gain in the domestic political balance of trade? Yes. Starmer has done well on the international stage, and all these deals show that his government can actually get things done. It adds some lustre to Starmer's dullish image, and also adds to his 'prime ministerial' air, which contrasts with that of the more inexperienced Badenoch and the 'unserious' Nigel Farage. Starmer could plausibly claim to be the kind of steady, dependable leader needed to steer the country through stormy times, even if he sometimes needs to adjust course. The local economic boost in areas most affected will help, as well as the contribution to growth at the national level. But, as ever, a demanding electorate will want to feel the tangible benefit of growing real wages, stabilised taxes, and improving public services before Labour can dream of catching up with Reform UK. Deals such as this, alongside some dramatic U-turns on the winter fuel payment and the grooming gangs, give the government hope that it's at least possible to win some voters back.
BBC News
an hour ago
- BBC News
Canada uncover case of bribery to approve study permit, ova 60 oda misconducts within dia immigration system
Di Immigration, Refugees and Citizenship Canada (IRCC) say dem don uncover series of misconduct cases within dia department, wey include employee wey dey solicit bribes to approve study permits for Canada. IRCC bin release one misconduct report wey dem say go help dem achieve transparency and to put eye for di integrity of Canada immigration system. Di report find say some employees dey breach privacy by accessing sensitive files and di act dey against di code of conduct of Canada immigration department. According to di report, dem find 62 cases of misconduct out of 76 investigations and e include harassment and violations of IRCC Code of Conduct. Di IRCC na department wey dey responsible for processing millions of immigration applications annually, wit ova 11,000 employees. Also dis report wey cover from 2023 - 2024 dey affect department wey dey process applications for study permits, work permits, permanent residency, and refugee claims. Meanwhile, dis investigation dey come for time wen Canada dey cut numbers of international students, foreign workers and asylum seekers wey dey enta di kontri. Di report bin give categories of di kain misconduct wey di employees bin involve in. According to di IRCC investigation, one case processing agent bin ask anoda employee through dia work messaging application if dem go accept money in exchange to approve a study permit. Di processing agent bin quickly change di story say na anoda individual wey e dey owe money bin use im laptop to request di bribe. Dis don raise serious concerns about how vulnerable di Canada immigration system dey and becos say International students dey contribute billions to Canada economy, any tori of corruption for di study permit process fit affect plenti applicants wey dem catch. According to IRCC, dem find three employees wey breach dia code of conduct. Di case include employee wey dey speak negatively about clients from a specific kontri. Also, di investigation find say one employee bin form a social relationship wit an asylum claimant wey e meet for IRCC Asylum Hotel. E give am preferential treatment and tell am how to engage wit di Department, and co-sign on di claimant car loan. Dis dey against IRCC code of conduct and e cause conflict of interest- e chop suspension witout pay. Canada say dem also dey aware of some marriage fraud wey pipo wey dey apply to enta dia kontri dey engage in. "Immigration officers sabi how to detect false marriages, and e get serious criminal charges." Dem say na crime for foreign applicant to set up wetin dem know as "marriage of convenience" to allow spouse to immigrate to Canada. IRCC say some of di disciplinary measure wey IRCC bin take against dia own employee wey dey involved for dis misconduct include written reprimands, suspensions witout pay, terminations, and security status revocations. Canada government say dem dey committed to transparency, and dem go serve corrective measures so odas fit learn and grow from wahala of any wrongdoing. Dem go begin training and awareness campaigns, to actively create an environment wit strong ethical standards. Di Immigration department say dem want make dia immigration process dey safer, transparent and free from misconduct. "Di objective of dis report is to increase confidence for our systems of accountability, becos IRCC play a key role both for Canada and internationally to facilitate di entry of temporary residents; manage di selection, settlement, and integration of newcomers; grant citizenship; and issue passports to citizens." Meanwhile, dis dey come afta Canada Prime Minister Mark Carney and im Liberals party say e dey important to implement policies wey go address challenges wey di kontri dey face in terms of immigration. Although for 2024, Canada govment bin announce new immigration plan wey go reduce di number of international students and foreign workers, PM Carney say im govment dey take action to bring immigration to "sustainable levels" by 2027. Di plan na to reduce temporary residents wey include international students, foreign workers, amongst odas as well as keep permanent resident admission for less dan 1% of Canada population.
