Europe
The Guardian

As US-Canada tensions flare, who’s calling the shots in Trump’s trade team?

Peter Navarro, Jamieson Greer, Howard Lutnick. Photograph: Getty ImagesView image in fullscreenPeter Navarro, Jamieson Greer, Howard Lutnick. Photograph: Getty ImagesUS newsAs US-Canada tensions flare, who’s calling the shots in Trump’s trade team?US trade representative Jamieson Greer has a level-headed reputation but commerce secretary Howard Lutnick and White House adviser Peter Navarro also have key roles Having reportedly read Victor Hugo’s Les Misérables, in French, during a military tour of duty in Iraq, Jamieson Greer considered himself an unlikely target for accusations of francophobia. But Donald Trump’s US trade representative, hitherto one of the president’s less high-profile cabinet members, found himself in that uncomfortable position amid the acrimonious collapse of bilateral trade talks with Canada that now threatens to degenerate into an all-out trade war between the two close trading partners whose economies are tightly intertwined. An apparent pending deal between Washington and Ottawa aimed at avoiding damaging tit-for-tat tariffs broke down at the last minute, with Canada’s prime minister, Mark Carney, claiming his country had come “under attack” from the US. Among the multiple and complex points of disagreement was a Canadian accusation that US negotiators had pressed for a weakening of legal protections for the French language, which is most heavily spoken in the province of Quebec. Canadian provisions include legislation that mandates streaming and online video companies to invest in and promote Canadian content and promote the French language. Carney cast US objections to such regulations as a deal breaker, and said they amounted to “threats to French language and culture”. For Greer, a fluent French speaker who once served as a Mormon missionary in Belgium, France and Luxembourg, the charge was too much. “I speak French, too,” he told CNBC, dismissing the claims as “a funny, fake story”. “My kids speak French,” he said. “One of my kids was born in Paris. So I like the Québécois, and I like that they speak French. What we don’t like is a situation where Canada, the federal government, forces American tech companies to take their earnings and give a percentage to their competitors in Canada.” The controversy may be the closest glimpse the public will see of Greer being rattled. By Thursday, in what was being being seen by some Canadian officials as a potential olive branch, he was peddling a softer line on the language issue. “President Trump, myself and the US government recognizes the importance and sensitivity of the French language in Canada,” he told CBC, the Canadian broadcaster. “We know that this is quite sensitive and quite important, and we actually champion the use of French.” The impact was undermined hours later, however, when Trump publicly signed a retributive executive order supposedly changing the name of Lake Ontario – one of the Great Lakes which has shores on both countries – to Lake America. Petty as the act was, it seemed to graphically illustrate the limited freedom of manoeuvre held by anyone representing a president so preoccupied with trade. And Greer is not the only official seeking to steer the president’s aggressive agenda on trade – raising questions over who is really in control.

As US-Canada tensions flare, who’s calling the shots in Trump’s trade team?
Europe
The Guardian

Thieves steal more than 70,000 pints’ worth of Guinness from depot in Cheshire

Cheshire police have appealed for witnesses who may have seen a lorry entering the Aston Lane area. Photograph: John Keeble/Getty ImagesView image in fullscreenCheshire police have appealed for witnesses who may have seen a lorry entering the Aston Lane area. Photograph: John Keeble/Getty ImagesCrimeThieves steal more than 70,000 pints’ worth of Guinness from depot in CheshirePolice say two lorries were driven into industrial estate in Runcorn and attached to trailers holding about 800 barrels The famous tagline “Guinness is good for you” applies only when the drink is bought and paid for, police have said, after thieves made off with more than 70,000 pints’ worth in Cheshire. Officers said they believed two lorries were driven into a depot in Runcorn on Monday and attached to waiting trailers holding a combined total of about 800 barrels before being driven away. Cheshire police said they hoped for a full recovery of the stolen barrels, and had appealed for witnesses who may have seen a lorry entering the Aston Lane area at about 7.45pm. The first lorry was said to have connected to the HGV trailer before leaving the depot at about 7.55pm in the direction of the Mersey Gateway bridge. The second lorry arrived at the same site at 9.12pm and connected to another trailer before leaving at 9.30pm in the direction of Rainhill and Watkinson Way, police said. View image in fullscreenOne of the two HGV trailers pictured before it was stolen from Whitehouse industrial estate in Runcorn. Photograph: Cheshire Constabulary/PADS McClatchy said: “It is famously said that ‘Guinness is good for you’, but that is only the case when it has been bought and paid for. “It is with this in mind that we have wasted no time in launching inquires to identify those responsible for the theft of £115,000 worth of Guinness and the two trailers that housed the barrels. We will settle for nothing less than the full recovery of all the items stolen.” When including the value of the trailers, the total value of the items stolen is estimated at about £205,000. McClatchey asked anyone with information to speak to officers. “We would also ask any motorists who were driving in the area at the time of either of the incidents to please review any dashcam footage to see if you have captured anything that could aid our investigation.” The stolen barrels, containing about 70,400 pints of Guinness, had been intended for delivery to pubs. Diageo, which owns the brand, has a packaging warehouse on the Whitehouse industrial estate on Aston Lane. Police believe both HGVs were driven by men. The first driver was described as white with a short dark beard, and wearing a beanie hat. The second was believed to have been wearing a cap. The trailers were described as white tri-axle curtain-side trailers with branding for the logistics company GXO on the curtains and rear doors. The trucks have the unique ID numbers DL736 and DL542 on the top left corner of their rear doors.

Thieves steal more than 70,000 pints’ worth of Guinness from depot in Cheshire
Asia
The Hindu BusinessLine

Sensex today | Stock Market LIVE: Sensex drops 150 pts at open, Nifty at 23,850 as US-Iran tensions push up crude oil prices

Top gainers of Nifty 50: Eternal (+0.84%), Coal India (+0.66%), Bajaj Finance (+0.65%), Bharti Airtel (+0.55%) Top losers: Infosys (-1.99%), Tech Mahindra (-1.47%), Bajaj Auto (-1.33%), Wipro (-1.07%) The rupee lifted about ‌0.1% by the intervention and was last hovering at 94.42 ‌per dollar, compared with its close at 94.4850 in ⁠the previous session. Brent crude oil ‌futures rose 0.5% to $96.8 per barrel as tit-for-tat strikes between the U.S. and Iran ‌on vessels sailing in the Strait of Hormuz and other ⁠areas heightened concerns of ⁠a prolonged supply disruption from ‌the Middle East. On Friday, BSE Sensex settled 362.57 pts or 0.48% higher at 76,515.43. Nifty 50 was up 24.25 pts or 0.10% to 23,897.70. Carborundum Universal has informed the appointment of Mr. Sriram Seshadri as Chief Financial Officer & KMP of the Company w.e.f. September 07, 2026 Magellanic Cloud’s Wholly Owned Subsidiary Provigil Surveillance Limited, receives Letter of Acceptance from Western Railway Ratlam Division worth Rs.3.49 Crore Morepen Laboratories has completed the first phase of its manufacturing capacity expansion program ahead of the previously indicated timeline. Under this first phase, the Company’s installed reactor capacity for API and CDMO has increased from 535 KL to 614 KL. Top gainers of Nifty 50: Eternal (+0.84%), Coal India (+0.66%), Bajaj Finance (+0.65%), Bharti Airtel (+0.55%) Top losers: Infosys (-1.99%), Tech Mahindra (-1.47%), Bajaj Auto (-1.33%), Wipro (-1.07%) Dealers ‌sold a ​total of 2.4 ⁠million vehicles during ‌the month, compared with 2.6 million ‌units in ​July Purple Style Labs is set to make stock market debut today, September 07. The issue price is fixed at Rs. 575 per share.

Sensex today | Stock Market LIVE: Sensex drops 150 pts at open, Nifty at 23,850 as US-Iran tensions push up crude oil prices
North America
CNBC Economy

Fed's Hammack says 'now is the time to act' on raising interest rates

Cleveland Federal Reserve President Beth Hammack on Thursday repeated her call for higher interest rates, saying recent inflation data shows the central bank is still too far from its goal. A report released Wednesday showed inflation running around 3% on an annualized basis, the central bank policymaker said. Even though the monthly rates of price increases have slowed over the past few months, Hammack said the Fed should tighten monetary policy. "I don't want to prejudge anything. But I believe now is the time to act," she said in a live CNBC interview from the Fed's annual symposium in Jackson Hole, Wyoming. "I believe that we've been in an inflationary situation for more than five years. It's been running well above our target. I don't see any restriction in policy when I look at financial conditions and when I talk to market participants." At the July meeting of the Federal Open Market Committee, of which Hammack is a voting member this year, she was one of three dissenters on the decision to hold the central bank's policy rate in a range between 3.5%-3.75%. The group instead preferred a quarter percentage point hike. Hammack said she still thinks the Fed needs to take action against inflation that is straining household budgets. "The longer inflation stays above our objective, the harder it will be for us to bring it back down, and the more pain that individuals and businesses are going to be experiencing," she said. "To me, the real problem with us missing on our inflation objective for so long is the risk that an inflationary mindset starts to set in with the public." Much of this year's inflation increase has been traced to the impact from the Iran war, tariffs and demand related to artificial intelligence. While policymakers generally look through supply shocks and other factors generally regarded as temporary, some Fed officials worry that the effects could become embedded in the economy. Hammack said she recently met with workers in Erie, Pennsylvania, who "were all saying that they're feeling a sense of despair. They're working every day, coming in, they've got good jobs, and yet they still feel like they can't make ends meet. They can't go and afford an ice cream cone on the weekend with their kids." Market pricing, though, indicates the Fed will stay on hold at both its September and October meetings and will wait until December for the next hike. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Fed's Hammack says 'now is the time to act' on raising interest rates
Europe
BBC Business

Almost half of households do not see benefits of economic growth, report says

Image source, Getty ImagesByMichael Race and Mitchell Labiak, Business reportersPublished4 hours agoAlmost half of people in Britain live in areas where economic growth does not translate into a better quality of life with a "stark" North-South divide in the spending power of households, a new report finds. Researchers at consultancy firm PwC said every region the north of England, midlands and Wales had a lower spending power than the country's average, with London and the South East comfortably above. The findings come as Prime Minister Andy Burnham has pledged to tackle the cost of living and regional inequalities in order to boost living standards. But questions remain over the new PM's economic policies with surges in UK government borrowing costs set to impact public spending choices. The report released on Thursday said the equivalent of 12.5 million households - 46% - lived in parts of the country where economic growth, often seen through increased business investment and job opportunities, were not leading to better living standards. It said households in the north east of England had a spending power 6.6% below the national average, equivalent to £1,542 less a year. The north west was £1,493 less, while Yorkshire and the Humber were worst off with spending power down £1,917 comparatively. Meanwhile, households in the South East were found to have spending power 9% above the national average, worth an additional £2,154 a year, followed by London. Household spending power is seen as a good measure of whether economic growth is improving living standards. PwC says it measures this by looking at income after taxes and housing costs, and takes into account the size and makeup of a household - which is aimed at giving a better idea of the money available to meet other expenses. The UK has seen years of weak growth, although the economy expanded by 1.2% in the first six months of this year, according to official figures. Most countries want economic growth because it usually means people spend more, extra jobs are created, more tax is paid to the government and workers get better pay rises. All this together, in theory, leaves people better off - but it takes time for the benefits to be felt, and it does not necessarily benefit everyone. According to PwC, "only a fraction" of a rise in GDP - which a measures economic growth - leads to increased spending power.

Almost half of households do not see benefits of economic growth, report says
Europe
BBC Business

Why wait? Business grads buying firms to install themselves as CEO

Confined to her hospital bed as she waited for her baby to be induced, Ania Aliev was attempting to finalise a deal to buy a company and put herself in the top job. "I was answering investors and emailing people, and the investors were yelling at me 'you need to focus on having your child right now!'," says Aliev, who was 27-years-old at the time in late 2023. A recent MBA (Master of Business Administration) graduate from the prestigious Tuck School of Business at Dartmouth College in New Hampshire, she gave birth to a boy. Just three months later she was owner and CEO of Massachusetts-based medical equipment business Life Support Systems. It used to be the case that US business course graduates would leave university and typically either join a corporate giant to try to work their way to the top, or else form their own start-up. But some, impatient to be the boss of an established firm, are instead now borrowing hundreds of thousands of dollars to buy such a business and install themselves as the boss. Is such entrepreneurial go-getting to be applauded, or is it excessive youthful chutzpah? And how do the employees react when a 20-something with little experience suddenly turns up to order them about? Aliev, who had worked in finance before doing her MBA, was wary of first impressions at the firm. "If you judge a book by its cover, it's very easy to be like 'oh, young girl, Wall Street background, coming in here and telling me what to do'… I was really conscious about that," she says. "And I really didn't want to come off that way to my team." Aliev says her approach was initially to just observe and learn. "Not coming in and telling them 'this is how things are going to be'." The practice of a young entrepreneur borrowing money to buy a company and become its boss is known as entrepreneurship by acquisition or "search-fund investing". The would-be business owner sets up a fund, called a search fund, and aims to attract money from both institutional investors and wealthy individuals. At the last count, in 2023, a record 94 search funds, external were found to have been launched that year in the US, with $682m (£505m) said to have been invested in funds and the companies they bought across 2022 and 2023.

Why wait? Business grads buying firms to install themselves as CEO
Asia
The Hindu BusinessLine

Veefin Solutions plans to migrate to mainboard

The Information Memorandum covers 2,55,39,417 fully paid-up equity shares of face value ₹10 each. No equity shares are proposed to be sold or offered pursuant to the Information Memorandum Veefin Solutions Ltd, a global enterprise banking technology company, has initiated the process for migration of its equity shares from the SME platform of BSE to the mainboard of BSE and direct listing on the mainboard platform of NSE. The company has submitted its Information Memorandum to BSE on Tuesday for migration and will also file an application for direct listing on NSE after receipt of requisite approval from BSE, in accordance with the applicable regulatory and exchange requirements. The company got listed on BSE SME platform on July 5, 2023. Since its listing, Veefin has expanded its technology platform and product portfolio across multiple areas, including Supply Chain Finance, Trade Finance, Cash Management, Digital Banking, Loan Origination, Loan Management and Collections, among other capabilities. The company has also expanded its ecosystem of financial institutions, technology partners and enterprise customers while increasing its presence across India and international markets including Asia, Africa and West Asia. Veefin’s technology platforms are designed to enable banks, NBFCs, fintech companies, and corporate clients to digitise critical workflows across lending, transaction banking, working capital and financial services. Raja Debnath, Chairman and Managing Director, Veefin Solutions, said the company has significantly expanded its product portfolio, customer ecosystem and international presence since listing on the SME platform. The migration to mainboard reflects the evolution of Veefin as an enterprise banking technology company as it continues to build scalable technology platforms for financial institutions globally, he added. Gautam Vijay Udani, Whole-Time Director, Veefin Solutions, said the company has made continuous investment in technology platforms, expansion into adjacent banking workflows and increasing adoption across markets. The proposed migration to the mainboard of​ BSE and NSE is a significant step for the company and its stakeholders as it enters the next phase of growth journey, he added. The Information Memorandum covers 2,55,39,417 fully paid-up equity shares of face value ₹10 each. No equity shares are proposed to be sold or offered pursuant to the Information Memorandum, said the company. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

Veefin Solutions plans to migrate to mainboard
Asia
The Hindu BusinessLine

Why fear should not stop us from becoming entrepreneurs

Khalil Gibran’s Fear captures this moment with unusual simplicity. The river looks back at the mountains it has crossed, the forests and villages through which it has travelled, and then looks ahead at an ocean so vast that entering it seems like disappearing forever. The river is not afraid of water. It is afraid of losing itself. That is perhaps one of the most powerful ways to understand the fear of entrepreneurship. For many individuals with good ideas, the frightening question is not merely, what if my business fails? It is deeper: What happens to me if I leave the identity I already know? India’s entrepreneurial story makes this contradiction particularly striking. The latest Global Entrepreneurship Monitor (GEM) 2025/26 report shows that 78.3% of Indian adults see good opportunities to start a business, while 83% believe they possess the skills and knowledge to do so. Yet 56.8% of those who see opportunities say fear of failure would prevent them from starting. Only 25.6% report an intention to start a business within the next three years. The numbers reveal something important. The problem may not be a shortage of opportunity. It may be the psychological distance between seeing an opportunity and acting on it. And that distance is often filled with fear. Fear of losing a stable salary. Fear of disappointing parents. Fear of borrowing money. Fear of social judgement. Fear of starting again if things go wrong. But there is another fear we rarely discuss: identity loss. A salaried professional knows who they are. A designation gives them a name. A company gives them belonging. A monthly salary provides predictability. Entrepreneurship asks them to step outside all three. Suddenly, there is no designation to hide behind. No organisation to absorb the failure. No certainty that next month’s income will arrive. The individual becomes responsible not only for the business, but also for the meaning attached to its outcome. Research supports this psychological dimension. A 2025 study of 250 micro, small and medium business owners in India found that entrepreneurial fear of failure can damage psychological well-being, with emotion regulation playing an important role in that relationship. Research on entrepreneurial identity also shows that after failure, entrepreneurs often have to reconstruct how they understand themselves. Perhaps this explains why people with perfectly good ideas remain where they are. I began noticing this in conversations with aspiring entrepreneurs. When I asked why they were not starting despite having an idea they believed could work, the answers were strikingly familiar. Some said: “I cannot risk my salary”, “What if my family thinks I failed?”, “I don’t know what will happen if the business doesn’t work”, “I can start later”, or “I don’t have enough confidence to take the first step.” The river had reached the ocean. And it was trembling. I know that trembling personally. When I returned to India after studying abroad, I did not return with a perfect entrepreneurial blueprint. I returned with an observation: young people were struggling with confidence, identity and direction. I saw an opportunity to build something around that. That became BJ360. Starting it required more belief than certainty. There was no guarantee that people would respond, no established roadmap and no assurance that the idea would become a sustainable business. Yet slowly, it did. People connected with the work. Workshops happened. Relationships developed. Revenue followed. A venture that began as an uncertain idea became a real business. For a while, the river seemed to have found its direction.

Why fear should not stop us from becoming entrepreneurs
Asia
The Hindu BusinessLine

JioFinance launches membership programme and financial health tool

Jio Finance Platform and Service Limited (JFPSL) on Thursday launched two new features on its JioFinance app: JioFinance+ and JioFinance360, aimed at improving user financial health and transaction rewards. JioFinance+, a membership programme, operates on a value-back model where a portion of the platform's commission from eligible marketplace transactions is returned to customers as direct benefits. Free for the first 365 days, the programme offers cash valuebacks of up to ₹5,000 on personal loans and up to ₹1,000 on credit cards, an extra 1 per cent JioGold on lump-sum gold purchases of ₹2,500 and above, and 25 per cent additional JioPoints on eligible transactions. JioFinance360 functions as a consolidated financial health dashboard, aggregating data across bank accounts, investments, loans, insurance policies and recurring expenses into a single report. It assigns users a Financial Health Score between 0 and 100, assessed across five pillars: spending, borrowing, wealth, insurance, and tax. The feature uses large language models alongside a rule-based insight engine to generate personalised recommendations. JFPSL CEO Surbhe S Sharma described the launch as part of the company's mission to democratise intelligent finance for Indians at scale. JFPSL is a wholly-owned subsidiary of Jio Financial Services Limited, which is registered with the Reserve Bank of India as a Core Investment Company. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

JioFinance launches membership programme and financial health tool