Aurelia Butler

LONDON (Reuters) – Britain’s Institute of Directors said on Sunday that optimism among its members had fallen to the lowest since the onset of the COVID-19 pandemic, following tax rises in finance minister Rachel Reeves’ first budget on Oct. 30.Investment plans and employment intentions were the weakest since May 2020 last month, while a gauge of business leaders’ optimism sank to its lowest since April 2020 at -65, down from -52 in October.”As businesses continue to absorb the consequences of the Budget for their business plans, confidence has continued to plummet,” IoD Chief Economist Anna Leach said.”Far from fixing the foundations, the Budget has undermined them, damaging the private sector’s ability to invest in their businesses and their workforces,” she added.The IoD report adds to a chorus of complaints by businesses since the budget and other signs of an economic slowdown. Last week Reeves promised the Confederation of British Industry that she would not be “coming back with more borrowing or more taxes” at future budgets.Reeves announced 40 billion pounds ($51 billion) of tax rises at the budget, including a 25 billion pound increase in employers’ annual social security contributions.Labour had only pointed to around 8 billion pounds of tax rises before the election and Reeves blamed the extra increases in large part on what she said was an unexpectedly poor fiscal legacy left by the previous Conservative government.A planned tightening of employment laws was also likely to increase costs for employers, the IoD said.The IoD survey took place between Nov. 15 and Nov. 27 and was based on 601 responses, mostly from small businesses.($1 = 0.7851 pounds) More

Australia approved the social media ban for children late on Thursday after an emotive debate that has gripped the nation, setting a benchmark for jurisdictions around the world with one of the toughest regulations targeting Big Tech.The ban, which the centre-left government says is world-leading, could strain Australia’s relationship with key ally the United States, where Musk, a central figure in the administration of president-elect Donald Trump, said in a post this month it seemed a “backdoor way to control access to the Internet by all Australians”.Albanese, asked on Sunday if he was prepared to talk to Musk about the social media ban said: “We’ll talk to anyone”. “With regard to Elon Musk, he has an agenda, he’s entitled to push that as the owner of X, formerly known as Twitter,” Albanese added in remarks on Australian Broadcasting Corp. television.The law forces tech giants from Instagram and Facebook (NASDAQ:META) owner Meta, to TikTok to stop minors logging in or face fines of up to A$49.5 million ($32 million). A trial of enforcement methods starts in January with the ban to take effect in a year. “We are determined to get this done, the parliament has overwhelmingly passed this legislation,” Albanese told the broadcaster.X did not immediately reply to a Reuters request for comment outside of business hours.Albanese’s Labor party won crucial support from the opposition conservatives for the bill that was fast-tracked through the country’s parliament as part of 31 bills pushed through in a chaotic final day of parliament for the year. More

OTTAWA (Reuters) -U.S. President-elect Donald Trump said on Saturday he discussed the border, trade and energy in a “very productive” meeting with Canadian Prime Minister Justin Trudeau amid fears of a trade war.Trudeau paid an unannounced visit to Florida on Friday evening and had dinner with Trump at his Mar-a-Lago residence, days after Republican Trump pledged to impose 25% tariffs on Canadian and Mexican imports after he is sworn in as president in January.That pledge has raised fears of a trade war between the U.S. and two of its biggest trading partners.Mexico President Claudia Sheinbaum warned this week that Trump’s tariff plan would have dire consequences for both countries and suggested possible retaliation.Trump wants to use tariffs as a tool to get Mexico and Canada to help stem the flow of illegal drugs into the U.S., particularly the deadly opioid fentanyl, and also migrants crossing illegally into the U.S.”We discussed many important topics that will require both Countries to work together to address, like the Fentanyl and Drug Crisis that has decimated so many lives as a result of Illegal Immigration, Fair Trade Deals that do not jeopardize American Workers, and the massive Trade Deficit the U.S. has with Canada,” Trump said in a post on Truth Social.”Trudeau has made a commitment to work with us to end this terrible devastation of U.S. Families,” he added.Trudeau, in a post on social media X on Saturday, said he looked forward to the two working together.”Thanks for dinner last night, President Trump. I look forward to the work we can do together, again,” Trudeau said.The prime minister’s office did not respond to a request for comment about the meeting. A Canadian government official, speaking on the condition of anonymity, told Reuters that it was a positive, wide-ranging dinner that lasted three hours.On Friday, Trudeau said at a news conference in Canada he was taking the possible tariffs seriously.”Donald Trump, when he makes statements like that, he plans on carrying them out,” he said.Many economists have warned Trump’s plan to impose tariffs on imports will increase costs for U.S. consumers.Trump has said tariffs on trading partners will help protect U.S. manufacturers and boost domestic job growth.In a separate post, Trump called on the so-called BRICS countries to commit to not creating a new currency or supporting another currency over the U.S. dollar.If those countries do so they will face “100% tariffs”, Trump said.BRICS refers to original members of the intergovernmental group of economies: Brazil, Russia, India, China and South Africa.It also includes Iran, Egypt, Ethiopia, and the United Arab Emirates.”We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy,” Trump wrote. More

Standard DigitalStandard & FT Weekend Printwasnow $29 per 3 monthsThe new FT Digital Edition: today’s FT, cover to cover on any device. This subscription does not include access to ft.com or the FT App.What’s included Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts10 monthly gift articles to shareGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionEverything in PrintWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisPlusEverything in Premium DigitalEverything in Standard DigitalGlobal news & analysisExpert opinionSpecial featuresFirstFT newsletterVideos & PodcastsFT App on Android & iOSFT Edit app10 gift articles per monthExclusive FT analysisPremium newslettersFT Digital Edition10 additional gift articles per monthMake and share highlightsFT WorkspaceMarkets data widgetSubscription ManagerWorkflow integrationsOccasional readers go freeVolume discountFT Weekend Print deliveryPlusEverything in Standard DigitalFT Weekend Print deliveryPlusEverything in Premium Digital More

Standard DigitalStandard & FT Weekend Printwasnow $29 per 3 monthsThe new FT Digital Edition: today’s FT, cover to cover on any device. This subscription does not include access to ft.com or the FT App.What’s included Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts10 monthly gift articles to shareGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionEverything in PrintWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisPlusEverything in Premium DigitalEverything in Standard DigitalGlobal news & analysisExpert opinionSpecial featuresFirstFT newsletterVideos & PodcastsFT App on Android & iOSFT Edit app10 gift articles per monthExclusive FT analysisPremium newslettersFT Digital Edition10 additional gift articles per monthMake and share highlightsFT WorkspaceMarkets data widgetSubscription ManagerWorkflow integrationsOccasional readers go freeVolume discountFT Weekend Print deliveryPlusEverything in Standard DigitalFT Weekend Print deliveryPlusEverything in Premium Digital More

“We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy,” Trump wrote on his social media platform, Truth Social. “They can go find another ‘sucker’. There is no chance that the BRICS will replace the U.S. Dollar in International Trade, and any Country that tries should wave goodbye to America.” More

BUENOS AIRES (Reuters) – Argentines living with HIV/AIDS and medics say spending cuts under libertarian President Javier Milei are hurting treatment of the illness and could lead to more cases, with fewer condoms for prevention and fewer tests to catch the virus early.The right-wing leader is pushing a major austerity drive, touting his “chainsaw” to cut back the size of the state and overturn a deep fiscal deficit he inherited. That has seen budgets frozen or capped for many public sector services.The budget for free HIV/AIDS treatment, where Argentina is a regional pioneer, fell 67% in real terms in 2024 and is set to fall 46% in 2025. That has put strain on supply of key medicines and could leave thousands without care next year, experts said.Acquired immunodeficiency syndrome (AIDS) is a chronic condition caused by the human immunodeficiency virus (HIV). Most people with HIV can live near-normal lives and not suffer from AIDS-related illness with effective early treatment.”I’ve been taking expired medication since May. Now in October they gave me medication until February, which expired in November,” Claudio Mariani, 59, who was initially diagnosed as HIV positive in 1993, told Reuters.”In my case, for example, I’m doing the viral load test now but I don’t know when I’ll have the results,” he added.According to official government data there are around 140,000 people living with HIV in Argentina. Around half that number depend on public sector treatment, according to the Health Ministry’s latest Epidemiological Bulletin. The government did not respond to requests for comment.The Huésped Foundation, which works to ensure access to care for HIV/AIDS sufferers, said more than 9,000 people would see treatment interrupted in 2025 due to the spending cuts.The government’s draft budget would see spending on the free HIV treatment service “Program 22″ rise from 21 billion to 23 billion pesos ($23 million), which with inflation at likely over 100% means a significant real-terms spending cut.This could see patients not being diagnosed or being caught late, ironically pushing up hospital costs, experts said.”These people require hospitalization, treatment for infections and a range of medical care that could be avoided if diagnosis is made earlier,” explained Leandro Cahn, executive director of the Huésped Foundation.”All these cuts, far from saving money… generate more costs,” he said.Ministry of Health data show that already this year the number of condoms distributed by the government fell to 209,328 from 503,460 the previous year, with expected drops in the supply of reagents and rapid tests likely to hinder care.”Treatment is something permanent,” local HIV specialist Luis Trombetta told Reuters, explaining that this consistency kept down the mortality rate. “It cannot be replaced or interrupted.”($1 = 1,010.0000 Argentine pesos) More