Switzerland, the land of luxury brands, could see prices skyrocket from Trump's 39% tariffs
Switzerland , home to some the world's most recognizable luxury brands, now faces an upcoming 39% tariff from the U.S. Industry groups on Friday warned that both Swiss companies and American consumers could pay the price.
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Yvette Cooper pours extra £100m into efforts to smash people-smuggling gangs
The government will pour an extra £100m into efforts to tackle migration as pressure piles on ministers to crack down on small boat crossings. The money will support the pilot of the new "one in, one out" returns agreement between the UK and France, paying for up to 300 more National Crime Agency (NCA) officers and new technology and equipment to step up intelligence-gathering on smuggling gangs. There will be more overtime for immigration compliance and enforcement teams as well as funding for interventions in transit countries across Europe, the Middle East, Africa and Asia, the government said. Labour has put a pledge to crack down on the number of people coming to the UK on small boats at the centre of its plan for government. But with boat crossings at a record high, and the asylum backlog still above 75,000, there is mounting pressure on ministers to take more drastic action - pressure which is exacerbated by the success of Reform UK in the polls. It comes as tensions over asylum hotels continue to flare up, with a protest and counter-protests taking place on Saturday outside the Thistle City Barbican Hotel in north London, and also in Newcastle and Manchester. Last week figures showed that the number of migrants arriving in the UK after crossing the English Channel topped 25,000 in record time, piling pressure on the government to take further action. It is the earliest point in a calendar year at which the 25,000 mark has been passed since data on Channel crossings was first reported in 2018. The government has announced a number of measures to deter migrants from coming to the UK, with the "one in, one out" deal agreed last month meaning the UK will for the first time be able to send migrants back to France in exchange for asylum seekers with links to Britain. Meanwhile, anyone who advertises small boat crossings or fake passports on social media could be face up to five years in prison under a new offence to be introduced under the Border Security, Asylum and Immigration Bill. The home secretary, who said Labour had set the foundations for a "new and much stronger law enforcement approach" over the last year, is also planning a major overhaul of the asylum system to speed up the processing of claims and make a dent in the backlog. 'Now this additional funding will strengthen every aspect of our plan and will turbo-charge the ability of our law enforcement agencies to track the gangs and bring them down, working with our partners overseas, and using state-of-the-art technology and equipment', Yvette Cooper said. 'Alongside our new agreements with France, this will help us drive forward our plan for change commitments to protect the UK's border security and restore order to our immigration system.' The NCA has 91 ongoing investigations into people-smuggling networks affecting the UK, the agency's director general of operations Rob Jones said. But the Conservatives dismissed the funding announcement as a "desperate grab for headlines which will make no real difference". Shadow home secretary Chris Philp said: "Labour has failed and their laughable claim to smash the gangs lies in tatters. They have no serious plan, just excuses, while ruthless criminal gangs flood our borders with illegal immigrants. "The British public deserves real action, not empty slogans and tinkering at the edges. The Conservative Deportation Bill is the only real solution. Immediate detention, rapid removal and shutting down these illegal networks for good."
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Apple might be building its own AI ‘answer engine'
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Suze Orman: 4 Tips To Protect Your Finances in Retirement
Retirement is often viewed with anticipation for many Americans. The daily grind at the office is replaced with thoughts of travel or enjoying hobbies you rarely had time for in your working days. Check Out: Read Next: Unfortunately, financial realities can make those wishes difficult to enjoy, especially in a time where the economy is fraught with uncertainty. In a recent article on her website, personal finance expert Suze Orman shared things retirees must do to protect their finances. Here are four things Orman advised to safeguard your money in retirement. Don't Make Rash Decisions with Your Investment Portfolio The stock market has been full of upheaval in 2025. A key driver to the chaos was President Trump's Liberation Day for tariffs. The S&P 500, for example, was down nearly 19% from recent highs, representing a loss of over $9 trillion in market value, according to CNN. Selling stock holdings during a pullback is understandable, but emotional decisions can betray long-term goals. 'I hope you resisted any urge to sell stock holdings during the worst of the market declines earlier this year. Once you lock in lower values, you can't easily make them up,' said Orman. Locking in losses can be particularly troubling for retirees with limited means to recoup losses, especially for people on fixed incomes. Suze Orman: Reanalyze Your Portfolio It's easy for an investment portfolio to get unaligned during market upheaval. It's best for retirees to review their portfolio at least annually, or when a position has a wild swing, according to Fidelity. Movement this year provides a good opportunity to do this. 'It's also an opportunity to recalibrate your investment strategy,' noted Orman of the stock market in 2025. Retirees may want to decide if they need to make changes or change their overall approach to their portfolio. 'If you were anxious during the market sell-off in the first half of the year, now is a good time to think through whether it is indeed time to reduce your overall allocation to stocks,' added Orman. It's often best to do this with a trusted financial advisor to ensure decisions are in your best interest. Have Enough Cash on Hand A common headwind many retirees face is not having a paycheck come in monthly. This makes having ample cash on hand necessary to face challenges like healthcare costs or other emergencies. Orman broke this down to two categories for retirees: living expenses and emergency funds. Current market upswings may be a good time for retirees to make calculated sales to increase cash on hand. 'If you are already retired, I hope you have at least two to three years of living costs in cash. That's how you ride out the next wave of market volatility, and the one after that,' said Orman. This will help retirees avoid selling during future downturns. That's only half of the cash equation, though. 'This cash is in addition to the eight months to one year of living costs you should have to cover emergency savings,' noted Orman. It's best to house all of these funds in a high-yield savings account to maximize interest-earning possibilities. Plan Filing for Social Security Benefits Wisely Taking Social Security benefits as soon as possible is understandable, especially in light of concerns of insolvency. Receiving benefits early can be detrimental, though, as it can lead to receiving significantly less. 'At your full retirement age (age 67 for everyone born in 1960 or later) your benefit will be 30% larger than if you start at age 62. Moreover, if you wait all the way until you turn 70, your benefit will be 76% higher than if you start at age 62,' Orman said in a recent article on her website. Filing for Social Security benefits is a personal decision, so plan for when it's best for you without hindering your long-term goals. Protecting finances in retirement is of utmost importance. You don't want to outlive your savings. Wise planning protects against that and avails retirees more opportunities to live the life they want. More From GOBankingRates 3 Luxury SUVs That Will Have Massive Price Drops in Summer 2025 How Much Money Is Needed To Be Considered Middle Class in Your State? 10 Used Cars That Will Last Longer Than the Average New Vehicle This article originally appeared on Suze Orman: 4 Tips To Protect Your Finances in Retirement 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
