The London consensus is a timely challenge to Trump’s isolationism | Phillip Inman

What replaces neoliberal capitalism is a question at the forefront of Donald Trump’s mind every day.The US president has never much liked those elements of the Washington consensus that celebrate free markets and liberal trade, as we have come to see in both his presidencies.Trump can happily accept the neoliberal agenda when it means privatising government agencies and commonly held assets. He is enthusiastic about deregulation and handing the private sector all the freedom it needs to exploit workers and resources to boost profits.But what Trump’s America First agenda cannot live with is tariff-free trade

‘It’s brutal, they feel very attacked’: budget uncertainty hits Southampton boat show

“What would happen if red wine got on that?” It is a common enough question when perusing a carpet store. But, as it happens, the same query crops up when shopping for a yacht. “Oh, you’d never get it off that decking,” the other half of a young couple replies as they size up one of the £2m triple-decker yachts moored at the recent Southampton international boat show.Top boat manufacturers descended on the port city from across Europe to show off bigger, better and bolder yachts than ever before, as well as lines of smaller sailing and motor boats. But the show, once a must-attend of the season alongside exhibitions in Cannes and Monaco, has shrunk by about 30% this year, according to some vendors’ estimates

Nexperia halts chip supplies to China in threat to global car production

Nexperia, the EU-based automotive chipmaker at the centre of a geopolitical dispute, has suspended supplies to its Chinese factory, stepping up a trade war that threatens to halt production at carmakers around the world.The company wrote to customers this week informing them all supplies to a Chinese plant had been suspended.In September, the Netherlands used national security laws to take control of the chipmaker, citing concerns that its Chinese owner, Wingtech Technologies, was planning to shift intellectual property to another company it owned. The Dutch government said that threatened the future of European chip capacity, and removed the Wingtech chairman, Zhang Xuezheng, as chief executive.China responded by halting exports from all Nexperia’s factories in China, prompting warnings this week that the embargo would force production lines at EU car factories to close within days

JP Morgan warned US of $1bn in Epstein transactions possibly related to human trafficking

JP Morgan warned the US government about more than $1bn in transactions linked to Jeffrey Epstein that were possibly related to reports of human trafficking, new documents confirm.The largest bank in the US filed a suspicious activity report (SAR) in 2019, just weeks after Epstein was found dead in a New York jail cell, about transactions linked to the paedophile financier and prominent business figures. It also flagged wire transfers made by Epstein to Russian banks.JP Morgan’s report said it had flagged about 4,700 transactions, totalling more than $1bn, that were potentially related to reports of human trafficking involving Epstein, the New York Times reported. The report, filed during the last Trump administration, also flagged sensitivities around Epstein’s “relationships with two U

Ministers’ claims to have helped JLR in doubt as £1.5bn support left untouched

Jaguar Land Rover has not drawn down any of a £1.5bn loan facility guaranteed by the government, with suppliers expressing anger over ministers’ claims to have supported the carmaker’s supply chain after a crippling hack.Britain’s biggest automotive employer was forced to shut down all of its wholly owned factories from 1 September for more than a month, after cyber-attackers compromised key computer systems.Liam Byrne, the Labour MP who heads of parliament’s business select committee, on Friday wrote to the business secretary, Peter Kyle, asking for clarification as to whether any money had reached JLR, and if the aid was requested by the carmaker.Suppliers to JLR have privately expressed anger about the government’s messaging, which appeared to take credit for helping them

Amazon shares surge as AI boom fuels cloud growth; Nvidia boss says selling chips in China is Trump’s call – as it happened

Time to recap.Amazon is leading the charge in the US stock market today, with its shares surging by about 11% after its third quarter earnings beat expectations last night.The tech giant reported a 20% surge in sales at its cloud computing division, Amazon Web Services, to $33bn thanks to demand for computing power for artificial intelligence.In the UK, the tinned tuna maker Princes Group has kicked off a float with a valuation of nearly £1.2bn in a boost for the London stock market