Etsy Artisans, Shoppers Poised for Pain Under Trump's Tariff Plans
Pam Duthie, a 51-year-old UK-based artisan, built her business selling Americans a unique way to capture their love of their furry friends.
Her craft venture, selling miniature stuffed replicas of dogs and cats on Etsy Inc., went international thanks to a US law that exempted small packages from import taxes.
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Yahoo
10 minutes ago
- Yahoo
From AI to aerospace: Europe's most innovative companies shaping tomorrow
What does innovation look like in 2025? From AI to blockbuster weight-loss drugs, Europe's forward-thinking companies punch above their weight. For the first time, Fortune analyzed the top companies across the continent in partnership with Statista to find the standouts that are driving progress with success. Patent data was provided by LexisNexis Intellectual Property Solutions. The list features 300 companies across 21 countries and 16 industries, and a total of 168 of the companies are on the Fortune 500 Europe. Companies on the list have brought in just under $8 trillion in annual revenue. The U.K. has more companies on our list than any other country, followed by Germany and Switzerland. The top sectors are finance, followed by retail and industrials. Companies on the list have brought in just under $8 trillion in annual revenue. The list features 300 companies across 21 countries and 16 industries, and a total of 168 of the companies are on the Fortune 500 Europe. Companies on the list have brought in just under $8 trillion in annual revenue. The U.K. has more companies on our list than any other country, followed by Germany and Switzerland. The top sectors are finance, followed by retail and industrials. L'Oréal was ranked at the top of the list in 2025. 'We are immensely proud to be recognized by Fortune as Europe's most innovative company,' Nicolas Hieronimus, Chief Executive Officer of L'Oréal told Fortune. 'This prestigious recognition reinforces our conviction that innovation, fueled by science, technology, and creativity, is the best way to succeed on the world stage, but is also a testament to the incredible talent and dedication of our teams around the globe.' We've highlighted some of the standout companies from this year's list driving innovation across Europe. Household products Noted for: Product innovation Employees: 50,000–99,999Fortune 500 Europe rank: 91France L'Oréal invests more than €1 billion annually in research and innovation and boasts a team of over 4,000 researchers. This, in turn, helps the French company formulate new ingredients and develop new products. Earlier this year, L'Oréal launched a device called Cell BioPrint that will give people a detailed assessment of their skin and the products best suited for it. 'This prestigious recognition reinforces our conviction that innovation, fueled by science, technology, and creativity, is the best way to succeed on the world stage…' Nicolas Hieronimus, CEO, L'Oréal Household products Product innovationEmployees: >100,000F500 Europe rank: 49U.K. Unilever's innovations take different shapes and forms—from fast-action laundry liquid to paper-cup instant noodles. The London-based company has 20,000 patents and a team of 5,000 experts who design new products, aided by nearly €1 billion in annual investments. Unilever has also expanded its AI use to help customers find the best products and discover new ones backed by scientific data. Health careProduct innovationEmployees: 50,000–99,999F500 Europe rank: 210Netherlands Founded in 1891, Royal Philips is known for pioneering innovations in lighting, health care, and consumer electronics. Key breakthroughs include the first compact audio cassette, electric razors, and mercury-free light bulbs. Today, Philips leads in sustainable, health–focused technology, improving billions of lives globally. Health careInnovation cultureEmployees: 50,000–99,999F500 Europe rank: 104U.K. GSK's innovations were reflected in its bottom line in 2024. With the help of its Silicon Valley veteran technology chief, Shobie Ramakrishnan, GSK is also using AI to speed drug discovery and streamline its supply chains. Health careInnovation cultureEmployees: 50,000–99,999F500 Europe rank: 116Denmark Novo Nordisk is wasting little time in developing new obesity treatments that, until recently, made it Europe's most valuable company. In May, the FDA accepted Novo's application to sell an oral version of Wegovy; an approval decision is expected in Q4. Novo Nordisk's recent trials for CagriSema, a new, more effective weight-loss medication, could increase its appeal beyond the millions already using its drugs. Health careProcess innovationEmployees: 50,000–99,999F500 Europe rank: 125Ireland In 2024, Medtronic invested more than $2.7 billion in R&D and operated over 81 manufacturing sites. AI is used to customize patient care, ranging from personalized brain therapy to data-driven diabetes care. The use of robotic-assisted surgery (RAS) also helps enhance precision and control. RetailingProduct innovationEmployees: >100,000F500 Europe rank: 144France Whether with Ray-Ban Meta glasses or its latest audio-enhancing eyewear, EssilorLuxottica is always pioneering new technology. Nearly 1,000 researchers across 50 R&D sites supported by up to €350 million in investment help the Franco-Italian company stay ahead of trends. The company is also vertically integrated, allowing for better quality control globally. Click here to view the full list. This story was originally featured on
Yahoo
10 minutes ago
- Yahoo
Poundland sold for £1 and set to shut shops in restructuring
Poundland is set to shut dozens of stores after being sold for £1 to investment firm Gordon Brothers. The discount chain, known for primarily selling products for £1, had been put on the market earlier this year after a sharp downturn in trading. Poland-based Pepco Group, which has owned Poundland since 2016, said on Thursday that it completed the sale of the business for a 'nominal' fee. Sources close to the process have said this was £1. Poundland's more-than-800 stores and roughly 16,000 employees will be transferred to the ownership of Gordon Brothers, which owns brands including Laura Ashley, as a result. However, as part of the deal, Poundland is set to undergo a restructuring plan, which will go through the high court. Poundland said the details will be communicated 'in due course'. It is understood that full details of the shake-up will be sent out company creditors in the coming days. The company is expected to seek around 100 store closures and a raft of rent reductions from landlords as part of the process. As part of the restructuring plan, Pepco is set to retain a minority stake in Poundland. Last month, Poundland reported that revenues dropped by 6.5% to 985 million euros (£830 million) for the six months to March, compared with a year earlier. The brand suffered 'challenges across all categories' and had 18 net store closures over the period. Pepco said the deal will help it shift away from food and drinks, improve its revenue growth and boost its profitability. Stephan Borchert, Pepco Group chief executive, said: 'This transaction will strongly support our accelerated value creation programme by simplifying the group and focusing on our successful Pepco business. 'Poundland remains a key player in UK discount retail, with millions of customers annually and a well-loved brand and proposition. 'We want to sincerely thank all the Poundland team for their ongoing commitment and contribution to the group and wish Barry Williams and his team all the best for the future.'
Bloomberg
15 minutes ago
- Bloomberg
Economy, Meet Reality
Morning, I'm Louise Moon from Bloomberg UK's breaking news team, bringing you up to speed on today's top business stories. Yesterday's spending review was all about shifting to a more positive tone as Rachel Reeves loosened the purse strings and pumped billions around the country.
