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Business

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Finance

Oil prices fall to lowest since August as Trump says Iran war is ‘effectively over’

Brent crude drops below $90 and markets climb after president downplays prospect of further strikes Business live – latest updates Oil prices have fallen to the lowest level since late August while stock markets climbed higher, as markets reacted with relief to Donald Trump saying that the war on Iran is “effectively over”. Brent crude, the global oil benchmark, fell nearly 3% to $89.66, the lowest since 31 August, on Tuesday morning, after the US president downplayed the need for military action against Iran “at this point”. The fall came after a near 6% drop on Monday on signs that the confl

The Guardian
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Finance

Britons stockpiling water and food tins but not panic buying, figures show

Shoppers appear to have taken government’s Be Ready campaign seriously, retail analysts say Business live – latest updates British shoppers have been stocking up on essentials such as bottled water, tinned goods and hand sanitiser, but did not panic buy after the government advised people to prepare for emergencies, shopping data has shown. Sales of essentials jumped in the 10 days after the government launched its Be Ready campaign, which encourages households to prepare for up to three days in the event of disruption to essential services from incidents such as cyber-attacks or extreme weath

The Guardian
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Finance

Author Jojo Moyes among UK travellers at risk of EU ban amid digital border system glitches

Errors in entry and exit records leave some Britons wrongly flagged as having overstayed post-Brexit 90-day limit EU sues IBM and two European firms over entry/exit border system The writer Jojo Moyes is facing a two-year EU travel ban and €10,000 (£8,300) fine because of glitches with the bloc’s digital security controls. She is one of a number of UK travellers who say their trips to the EU have not been properly recorded since the introduction of the EU digital entry and exit system (EES). Continue reading...

The Guardian
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Finance

EU manufacturers could give up on competing with China by 2030, warns commerce chief

Jens Eskelund says Europe may need to allow its companies to become part of Chinese firms’ supply chains Europe’s manufacturers could give up on attempting to compete with their Chinese counterparts by the end of the decade if current trends continue amid fears over mass job losses, the head of the European Union Chamber of Commerce in China has warned. In a case of “if you can’t beat them, join them”, Jens Eskelund said European companies operating in China were now thinking “Made in China for China” could be replaced by a philosophy of “Made in China for the world”. Continue reading...

The Guardian
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