Exclusive: EU antitrust regulators set to clear Prosus, Just Eat Takeaway deal, sources say
Amsterdam-headquartered Prosus has proposed incrementally selling down its 27.4% stake in Delivery Hero and giving up its board seat to address EU competition concerns, other people familiar with the matter told Reuters earlier this month.
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The Guardian
10 minutes ago
- The Guardian
Dozens more countries face higher taxes on exports to US as new Trump tariffs come into effect
Dozens of countries face higher taxes on their exports to the US now that Donald Trump's latest wave of country-specific tariffs have come into force. The sweeping 'reciprocal' levies announced by the White House a week ago – just before a previous 1 August deadline was due to elapse – were in place as of a minute past midnight Washington time on Thursday. Just before midnight, Trump claimed on social media that billions of dollars would start flowing into the US as a result of the tariffs. 'The only thing that can stop America's greatness would be a radical left court that wants to see our country fail,' the president wrote in capital letters, referencing an ongoing case in the US court of appeals which is considering whether he exceeded his authority in imposing the 'reciprocal' tariffs. The rates range from 41% on war-torn Syria to 10% for the UK and will be applied on top of the usual tariffs applying to products imported to the US. This means that while Brazil's 'reciprocal' level is 10%, its total rate is 50% after an executive order imposed a 40% additional levy from Wednesday linked to the prosecution of the country's former president Jair Bolsonaro. The EU is the only trading partner where its baseline rate – set at 15% after a framework deal – will include previous tariffs. It means, for example, cheeses that are normally hit with import duties of 14.9% will be taxed at 15% and not 29.9%. Since the announcement late on Thursday last week, governments around the world have been racing to try to reach deals to avert border taxes they fear could deter investors and result in job losses. The Swiss president, Karin Keller-Sutter, was in Washington on Tuesday for two days of meetings with senior Trump administration officials to try to reverse a 39% levy that blindsided the government when it was unveiled. Meanwhile, India's 25% tariff rate could rise to a total of 50% after Trump signed an executive order on Wednesday imposing an additional levy in retaliation for the country's purchase of oil from Russia. Delhi has 21 days to respond. Trump has threatened to use the same tactic on other countries that supply Russia. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion Trump first unveiled the raft of country-specific rates on 2 April, a date he called 'liberation day', claiming the rest of the world had looted the US for decades. After a 90-day pause brought in a week later and another four-week truce announced on 7 July, he confirmed the new set of rates last Friday. Some trading partners secured reductions via negotiations or by striking deals, including the UK, Thailand, Cambodia, Vietnam, Indonesia, the Philippines, Japan, South Korea, Pakistan and the EU. Other countries are negotiating tariffs not covered by last week's announcement. Canada has been hit with a total rate of 35% that came in last Friday, while Mexico avoided an increase from its 25% rate on the same date after it was granted a 90-day extension. China faces a 30% rate while negotiations continue before its separate 12 August deadline for higher rates. On Wednesday, Trump also warned that the US would impose a tariff of about 100% on semiconductor chips imported from countries not producing in America or planning to do so.
Reuters
2 hours ago
- Reuters
United Airlines flights resume after it resolves technology glitch
WASHINGTON, Aug 6 (Reuters) - United Airlines (UAL.O), opens new tab said a technology issue that led to a brief grounding of its flights at U.S. airports on Wednesday had been resolved. "While we expect residual delays, our team is working to restore our normal operations," the airline said. The outage, which lasted for more than an hour, prompted ground stops at several major United hub airports including Newark, Denver, Houston, and Chicago, according to the U.S. Federal Aviation Administration's website. United did not provide details of the technology issue that grounded flights, but a source familiar with the matter said the airline had suffered an outage of its weight calculation system. As of 9:25 p.m. ET (0125 GMT on Thursday), flight tracking data from FlightAware showed that 870, or 28%, of United flights had been delayed on Wednesday. United's outage came a few weeks after Alaska Airlines grounded all of its flights for about three hours due to an IT outage for the second time in just over a year. In April 2024, Alaska grounded its entire fleet due to an issue with the system that calculates the weight and balance of its planes.
Reuters
3 hours ago
- Reuters
United Airlines grounds flights at US airports over technology glitch
WASHINGTON, Aug 6 (Reuters) - United Airlines (UAL.O), opens new tab said it had grounded its flights at U.S. airports on Wednesday due to a technology issue, and warned of additional flight delays in the evening. "Due to a technology issue, we are holding United mainline flights at their departure airports," the airline said. United suffered an outage of its weight calculation system, a source familiar with the matter told Reuters. "The issue affecting United Airlines flights has been resolved and mainline flights are departing once again," flight tracking website FlightRadar24 said on social media at 9:19 p.m. ET (0119 GMT on Thursday). The U.S. Federal Aviation Administration said earlier it issued a ground stop for United flights at several U.S. airports. The ground stops were issued at major United hub airports including Newark, Denver, Houston, Chicago, according to the regulator's website. As of 9:25 p.m. ET, flight tracking data from FlightAware showed that 870, or 28%, of United flights had been delayed on Wednesday. United's outage came a few weeks after Alaska Airlines grounded all of its flights for about three hours due to an IT outage for the second time in just over a year. In April 2024, Alaska grounded its entire fleet due to an issue with the system that calculates the weight and balance of its planes.
