Markets rebound amid latest US-China tariff spat as traders look to possible ‘Taco trade’

Global stock markets have edged higher and cryptocurrencies rebounded amid signs that a new front in the US-China trade war may not be as severe as first feared.Tensions between Washington and Beijing escalated again on Friday and over the weekend, as Donald Trump threatened to impose additional US tariffs of 100% on China starting next month.The US president accused the country of “very hostile” moves to restrict exports of rare-earth minerals needed for American industry. Beijing said it would retaliate if Trump did not back down.However, Trump and senior US officials opened a door to a possible deal with China on Sunday

Greenpeace threatens to sue crown estate for driving up cost of offshore wind

Greenpeace is threatening to sue King Charles’s property management company, accusing it of exploiting its monopoly ownership of the seabed.The environmental lobby group alleges the crown estate has driven up costs for wind power developers and boosted its own profits, as well as the royal household’s income, due to the “aggressive” way it auctions seabed rights.The crown estate, as the legal owner of the seabed around England, Wales and Northern Ireland, is responsible for auctioning offshore wind rights. It has benefited from the huge growth in the industry, commanding hefty option fees from renewable energy developers to secure areas of the seabed to build their windfarms.It made a £1

Lloyds warns motor finance scandal could cost it nearly £2bn as bill rises

Lloyds Bank has put aside an extra £800m to deal with possible compensation claims over the motor finance scandal, with its total provision rising to almost £2bn.The bank, one of the most exposed to an ongoing scandal in which drivers were overcharged for loans as a result of commission paid to car dealers, had previously set aside £1.15bn to deal with potential costs.However, it said on Monday that an additional charge of £800m reflected an increased likelihood of further historical cases, particularly those affected by discretionary commission arrangements (known as DCAs), being eligible for compensation.The new estimate comes after the Financial Conduct Authority (FCA) published a 360-page consultation paper for its redress scheme

One of Europe’s biggest farm machinery firms halts US exports over ‘hidden’ tariffs

One of Europe’s biggest farm machinery companies, Krone, has been forced to pause exports of large equipment to the US because of “alarming” and little-known new tariffs that are hitting hundreds of products from knitting needles and hairdryers to combine harvesters.Among the products on the steel derivatives list drawn up in consultation with US manufacturers, Donald Trump is taxing 407 specific products ranging from tiny embroidery stilettos to cooker hoods, barbecues, fridges, freezers, dishwashers, hair curling tongs, grills, elevators, bridge and railway structures, agriculture equipment and wind turbines.It has meant that since 18 August, companies such as Krone and the construction company Liebherr in Germany have to provide an unprecedented level of detail to customs border authorities certifying the origin, weight and value of any steel in their products right down to nuts and bolts.“You have to get paperwork from the supplier to the supplier to the supplier. That is pretty much impossible,” said Oliver Richtberg, the head of foreign trade at the German engineering federation VDMA, one of the most influential trade bodies in Europe

‘Lab to fab’: are promises of a graphene revolution finally coming true?

After graphene was first produced at the University of Manchester in 2004, it was hailed as a wonder material, stronger than steel but lighter than paper. But two decades on, not every UK graphene company has made the most of that potential. Some show promise but others are struggling.Extracted from graphite, commonly used in pencils, graphene is a latticed sheet of carbon one atom thick, and is highly effective at conducting heat and electricity. China is the world’s biggest producer, using it to try to get ahead in the global race to produce microchips and in sectors such as construction

Five million Qantas customers have had personal information leaked on the dark web. Here’s what you need to know

The number of scams is expected to rise after the personal information of millions of Qantas customers was leaked on the dark web by international hackers.A hacker collective called Scattered Lapsus$ Hunters released the stolen records from more than 40 companies worldwide, including Qantas, on Saturday after their deadline for ransom payment passed.Here’s what you need to know about the data breach.Customer names, email addresses, and frequent flyer numbers for over 5 million customers were among the data leaked, Qantas said.The amount of individual data obtained varies between customers