Author: Andrew Rogers

The US and China have agreed on a framework to transfer TikTok into US-controlled ownership, marking a major step in a long-running dispute over the app’s Chinese parent company, ByteDance. US trade representative Jamieson Greer confirmed the agreement, while Treasury Secretary Scott Bessent said commercial terms had been agreed but declined to disclose details. Chinese negotiator Li Chenggang said both sides reached a basic framework to address TikTok-related issues through cooperation. The deal follows US security concerns, with 2024 legislation giving ByteDance nine months to sell the platform to a US-approved buyer or face a ban. The TikTok saga dates…

Former members of the Bank of England’s monetary policy committee (MPC) have called on governor Andrew Bailey to ease pressure on the government’s borrowing costs by scaling back or halting the central bank’s bond-selling programme. Britain’s long-term borrowing costs have reached a 27-year high, adding pressure on chancellor Rachel Reeves ahead of her 26 November autumn budget. While global factors, including trade tensions and Federal Reserve policy, are partly responsible, the Bank acknowledged that its £100bn quantitative tightening (QT) programme, unwinding crisis-era bond purchases, is also contributing. The Bank has sold around £100bn of gilts in the past year from…

Fitch cut France’s credit rating from AA- to A+. The downgrade was driven by political instability following repeated government collapses after the 2024 snap elections and uncertainty over controlling public finances. France’s debt is forecast to rise from 113.2% of GDP in 2024 to 121% by 2027, with no clear signs of stabilisation. The 2024 deficit is 5.8% of GDP, well above the stabilising target of around 2.8%, and Fitch sees little chance of reducing it below 3% by 2029. Fitch warned that the run-up to the 2027 presidential election will limit fiscal consolidation, and the political impasse is likely…

AstraZeneca has halted a £200m expansion of its Cambridge research site, stalling its entire £650m UK investment plan.The Cambridge project, expected to create 1,000 jobs, follows the scrapped £450m vaccine facility in Merseyside.An AstraZeneca spokesperson said the expansion is paused after reassessing the company’s investment needs.In contrast, AstraZeneca plans $50bn in US investments by 2030, funding facilities in Virginia, Maryland, and Texas.The decision adds to a tough week for UK pharma, with Merck canceling a £1bn London research centre and cutting 125 jobs.Sir John Bell warned other major pharma companies are likely to halt UK investments without stronger incentives.Sanofi called…

The European Central Bank kept its deposit rate at 2% during Thursday’s monetary policy meeting.The rate has stayed at its lowest level in over two years since a June cut of 25 basis points.Other rates were unchanged: main refinancing at 2.15% and marginal lending at 2.40%.Since June 2024, the ECB has cut its key rate eight times from a 4% record high.President Christine Lagarde said medium-term inflation is stabilizing at the 2% target.Flash estimates showed eurozone prices rose 2.1% in August, following 2% in June and July.Challenges remain, including political turmoil in France and global demand weakness affecting growth.The EU-US…

Oracle co-founder Larry Ellison overtook Elon Musk after Oracle shares jumped 40% in early trading.Ellison’s 41% stake is now worth $393bn, slightly ahead of Musk’s $384bn, per Bloomberg’s index.The surge marked Oracle’s largest single-day share increase and the biggest one-day wealth gain on Bloomberg’s list.Ellison, 81, also owns Tesla shares, a sailing team, the Indian Wells Open, and a Hawaiian island.He has long been a mentor to Musk, investing $1bn in Twitter and serving on Tesla’s board until 2022.Both Ellison and Musk have ties to Donald Trump, though Musk’s relationship reportedly soured earlier this year.Oracle’s growth is fueled by rising…

Apple will reveal its slimmest iPhone at Tuesday’s “awe-dropping” event in Cupertino’s Steve Jobs Theater.The iPhone 17 series will include standard, Pro, Pro Max, and the new iPhone Air.Observers predict iPhone Air will be Apple’s lightest flagship, following the slim MacBook design tradition.Apple will also unveil the Apple Watch series 11 and updated AirPods during the event.Rumors suggest AirPods may gain live translation, matching Google’s Pixel Buds feature.Apple is expected to announce release dates for iOS 26 and macOS Tahoe.Trump’s tariffs may disrupt Apple’s supply chain, potentially raising iPhone prices for consumers.Tim Cook has shifted production to India and shipped…

Brussels Airport has started building a new drop-off zone as part of its €500 million Hub 3.0 expansion project. Construction began on September 8, 2025, and will continue until early October 2026, when the new facility will open to passengers. The new Brussels Airport drop-off area will be located behind the Sheraton hotel, aligned with the departure hall. This location aims to give passengers a seamless connection to the terminal while reducing congestion by separating drop-off traffic from other flows. The new zone will be larger than the current one and include a dedicated assistance point for travellers with reduced…

Brussels is set to transform one of its busiest roads into a green, pedestrian-friendly urban boulevard. The redevelopment of Charles Quint Avenue aims to reduce traffic impact while improving the area for residents and commuters. The urban development authority issued a planning permit to Brussels Mobility to fully redevelop the avenue. Charles Quint Avenue, which runs through Ganshoren and Berchem-Sainte-Agathe, links the city center to the E40 motorway. Over time, the area has faced heavy traffic, noise, and air pollution. The redevelopment project seeks to change this pattern. The Brussels Minister for Mobility, Elke Van den Brandt, said the avenue…

Volkswagen is close to securing a US tariff deal, CEO Oliver Blume said, as the company aims to expand affordable electric vehicles in Europe. Trump’s trade tariffs, combined with market turbulence, have already cost the group “several billions.” Even the reduced 15% rate remains a burden, Blume added. Volkswagen Plans US Investments The company plans “massive” US investments and may localize Audi production to reduce tariff impact. Blume highlighted Porsche’s struggles due to tariffs and a weak Chinese market, noting billions lost this year. Affordable EVs and BMW Plans At a Munich trade show, Volkswagen unveiled a small, affordable electric…