UK food and drink trade deficit hits largest since 2000 at more than £21bn
Britain's food and drink trade deficit has widened to more than £21bn, reaching its largest level since 2000. The latest figures point to a sharp deterioration in the balance between exports and imports, with industry leaders warning that domestic food production is becoming a national security issue. The data also show that export performance weakened while imports remained elevated, deepening pressure on the sector.According to analysis by the Food & Drink Federation, UK food and drink export volumes fell by 11.7% in the first half of 2026 to 4bn kg. Exports to the European Union fell 0.9% in value terms,... [Continue Reading]
360LiveNews | 25 Sep 2026 00:30 LONDON
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EU warns Trump diesel export ban could hit both sides
The European Commission has warned that a proposed US ban on diesel exports could disrupt shared fuel markets and push up prices on both sides of the Atlantic. The warning came after reports that Donald Trump was considering a 90-day export ban as a temporary response to high pump prices in the United States. Officials in Brussels said any such move would risk harming both Europe and the US.A spokesperson for the European Commission said on Thursday that any disruption would risk negatively impacting both sides and that close partners should consult each other before taking measures affecting shared markets.... [Continue Reading]
360LiveNews | 24 Sep 2026 16:35 LONDON
Ineos to mothball three Hull chemical sites as UK gas prices bite
Ineos is pausing production at three chemical sites in Hull, in a move the company says is being driven by high UK gas prices. The decision affects plants that make industrial inputs used across pharmaceuticals, clothing, cosmetics, detergents, construction materials and military explosives. The company said two plants are already shut and a third will stop production in the coming days.The firm said up to 4,000 jobs are affected, including about 1,000 direct roles and 3,000 in the supply chain. Sir Jim Ratcliffe, who leads the industrial group, said the company was being forced to mothball some of what it... [Continue Reading]
360LiveNews | 22 Sep 2026 12:00 LONDON
Trump seeks Belarus potash deal amid Canada trade dispute
US President Donald Trump said Washington is working on a "massive" deal to buy potash from Belarus, signalling a possible shift in supply away from Canada as his administration intensifies a trade dispute with its northern neighbour. He said the price would be "substantially less" than what the United States is currently paying to Canada, describing the move as good news for American farmers and ranchers. The comments were made on his social media account and did not include any deal terms or a timeline.The announcement comes as Washington continues a quiet thaw with Minsk under Trump's second administration. Last... [Continue Reading]
360LiveNews | 22 Sep 2026 05:31 LONDON
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US-China AI rivalry hardens as export controls and model restrictions intensify
The United States and China are moving deeper into a technology confrontation over artificial intelligence, with Washington using export controls to slow Chinese access to advanced chips and related equipment. The dispute is increasingly being described as an AI cold war, with both sides building separate supply chains and policy camps around the technology. The latest discussion centres on whether the United States can maintain its lead while limiting China's progress.According to the supplied material, Washington has already imposed restrictions on the sale of chips to China. In June, the US government also curbed the ability of Chinese companies to... [Continue Reading]
360LiveNews | 21 Sep 2026 11:33 LONDON
Trump signs Russia sanctions package into law as pressure on energy revenues intensifies
US President Donald Trump has signed a sweeping sanctions package into law targeting Russian officials, banks and a shadow tanker fleet used to move energy exports. The measure is intended to increase pressure on Moscow over its war in Ukraine and to reduce the revenues that support Russia's military effort. It was signed on Friday, according to the supplied material, after clearing Congress with large bipartisan majorities.The legislation had been in development for more than a year and was described as a legacy effort linked to the late Senator Lindsey Graham, who co-led the push with Senator Richard Blumenthal. It... [Continue Reading]
360LiveNews | 19 Sep 2026 07:59 LONDON
Russia transfers Nestle and three French firms' Russian operations to LEV Management
Russian authorities have transferred the Russian operations of Swiss food group Nestle and three French companies to a firm called LEV Management, according to a decree signed by President Vladimir Putin. The move affects the Russian businesses of Auchan, the former Leroy Merlin chain now known as Lemana Pro, and logistics group FM Logistic. It is the latest state action against Western firms that remained in Russia after the full-scale invasion of Ukraine.The decree was issued late on Thursday, and the transfer covers the residual businesses and assets of the companies named in the order. The supporting material says Moscow... [Continue Reading]
360LiveNews | 18 Sep 2026 10:33 LONDON
