Business

US President Donald Trump has said he will follow through with his threat to hit imports from Canada and Mexico with 25% border taxes, known as tariffs, on 1 February. But he added that a decision about whether this would include oil from those countries has not yet been made. Speaking to reporters in the Oval Office, Trump said the …

Ben Chu and Tamara Kovacevic BBC Verify Getty Images Five years ago, on 31 January 2020, the UK left the European Union. On that day, Great Britain severed the political ties it had held for 47 years, but stayed inside the EU single market and customs union for a further 11 months to keep trade flowing. Northern Ireland had a …

BBC A friend got Zoe her AI-created book as a Christmas present For Christmas I received an interesting gift from a friend – my very own “best-selling” book. “Tech-Splaining for Dummies” (great title) bears my name and my photo on its cover, and it has glowing reviews. Yet it was entirely written by AI, with a few simple prompts about …

Faarea Masud BBC Business reporter Getty Images Draught pints will cost 1p less from Thursday because of a cut in alcohol duty in a move intended to help the sector grow. The 1.7% tax cut on the production of draught alcohol announced in the Budget last year is the first alcohol duty cut in a decade. However, critics have said …

Faarea Masud Business Reporter Getty Images Millions face paying a £100 penalty if they do not file their tax return Millions of people still have not filed their online self-assessment tax returns for which the deadline is midnight, meaning they could be fined £100, HMRC has warned. Over 3 million people who risk the penalty are being advised to go …

Sales of Apple iPhones dropped at the end of last year, as the tech firm’s roll out of new artificial intelligence (AI) features was met with a lukewarm response. Chief executive Tim Cook said the new features helped to drive stronger sales in the countries where they were available, such as the US. But iPhone sales slipped about 1% overall …

Getty Images Sanctioned Russian oligarch Roman Abramovich must be investigated over the £1bn he could owe, a group of MPs has urged HMRC. In a letter to the tax authority, Joe Powell, a Labour MP who leads a Parliamentary group on fair taxation, refers to BBC reports raising questions about whether tax is due on offshore investments. “Proper investigation of …

Economic growth in the US slowed at the end of last year, as trade and investment declined and the country was hit by hurricanes and labour strikes. The economy expanded at an annual rate of 2.3% between October and December, down from 3.1% in the three months before, according to the US Commerce Department. The pace, fuelled by solid growth …

The US economy wrapped up 2024 on a solid note, with consumer spending and government support playing key roles in driving growth, according to new data from the Commerce Department.Despite some challenges, the economy grew by 2.3% in the fourth quarter, slightly below the 2.4% that economists had expected. For the full year, GDP grew by 2.8%, a strong performance, …

Barclays has tightened its work-from-home policy with staff now required to come into the office for an extra day a week. The bank is the latest company to make changes to its flexible working policy that has been largely in place since the Covid pandemic, saying it recognised the importance of staff collaborating in the same place. A memo was …