Ineos to cut a fifth of Hull jobs, blaming ‘dirt-cheap’ imports from China

Recent findings reveal that China's chipmakers have spent a staggering $38 billion on U.S. and allied technology tools, raising concerns among lawmakers about the effectiveness of current policies aimed at curbing China's technological advancements. This significant investment indicates that despite efforts to restrict access to critical technology, China is finding ways to bolster its semiconductor industry, which could have long-term implications for global tech competition and national security.

Recent findings reveal that China's chipmakers have spent a staggering $38 billion on U.S. and allied technology tools, raising concerns among lawmakers about the effectiveness of current policies aimed at curbing China's technological advancements. This significant investment indicates that despite efforts to restrict access to critical technology, China is finding ways to bolster its semiconductor industry, which could have long-term implications for global tech competition and national security.

Ray Dalio, the founder of Bridgewater Associates, recently shared his insights on the significance of including gold in investment portfolios, the Federal Reserve's monetary policy, and the economic challenges China is facing, particularly in light of tariffs affecting the American economy. His discussion with Bloomberg's Lisa Abramowicz at the Greenwich Economic Forum highlights the importance of strategic asset allocation in uncertain times, making it a relevant topic for investors looking to navigate the current economic landscape.

Ray Dalio, the founder of Bridgewater Associates, recently shared his insights on the significance of including gold in investment portfolios, the Federal Reserve's monetary policy, and the economic challenges China is facing, particularly in light of tariffs affecting the American economy. His discussion with Bloomberg's Lisa Abramowicz at the Greenwich Economic Forum highlights the importance of strategic asset allocation in uncertain times, making it a relevant topic for investors looking to navigate the current economic landscape.

Veeco Instruments has responded to the recent US export restrictions affecting its business operations in China. These restrictions are significant as they could impact the company's ability to supply critical technology to one of its largest markets. Understanding how Veeco navigates these challenges will be crucial for investors and stakeholders, as it may influence the company's future growth and market position.

Veeco Instruments has responded to the recent US export restrictions affecting its business operations in China. These restrictions are significant as they could impact the company's ability to supply critical technology to one of its largest markets. Understanding how Veeco navigates these challenges will be crucial for investors and stakeholders, as it may influence the company's future growth and market position.

Top UK security officials are set to answer questions regarding a dropped spying case involving China, which was initiated by the chief prosecutor. This situation arises as the UK is attempting to strengthen its economic relationship with China, highlighting the complexities of national security and international diplomacy.

Top UK security officials are set to answer questions regarding a dropped spying case involving China, which was initiated by the chief prosecutor. This situation arises as the UK is attempting to strengthen its economic relationship with China, highlighting the complexities of national security and international diplomacy.

The World Bank has raised its growth forecast for China, highlighting a positive shift in the country's economic outlook amid regional developments. This adjustment is significant as it reflects confidence in China's recovery and potential for increased trade and investment, which could have a ripple effect on the global economy.

The World Bank has raised its growth forecast for China, highlighting a positive shift in the country's economic outlook amid regional developments. This adjustment is significant as it reflects confidence in China's recovery and potential for increased trade and investment, which could have a ripple effect on the global economy.

Ineos Group, a major player in the chemicals industry, has announced it will cut 60 jobs at its Hull plant, which represents about 20% of its workforce. This decision comes in response to soaring energy costs and the influx of cheaper imports from China, highlighting the challenges faced by local manufacturers. The job cuts not only impact the employees and their families but also raise concerns about the future of the manufacturing sector in the UK.

Ineos Group, a major player in the chemicals industry, has announced it will cut 60 jobs at its Hull plant, which represents about 20% of its workforce. This decision comes in response to soaring energy costs and the influx of cheaper imports from China, highlighting the challenges faced by local manufacturers. The job cuts not only impact the employees and their families but also raise concerns about the future of the manufacturing sector in the UK.

Chancellor Rachel Reeves will present her economic plans in her second Budget on November 26.

The EU's decision to match Donald Trump's steel tariffs by doubling import levies to 50% has raised alarms in the UK, where 80% of steel exports go to Europe. This move is seen as a significant threat to the UK steel industry, which is already facing challenges. The lobby group representing the sector has labeled this change as the biggest crisis the industry has ever faced, highlighting the potential economic repercussions for the UK.

Canada's merchandise trade deficit has widened to approximately $4.53 billion in August, indicating a retreat in exports. This decline is significant as it reflects challenges in the country's trade balance, which could impact economic growth and employment. Understanding these trends is crucial for policymakers and businesses alike, as they navigate the complexities of international trade.

In a significant move, lenders may be required to pay out £8.2 billion in compensation to drivers affected by car finance mis-selling, according to the Financial Conduct Authority (FCA). This payout, averaging £700 per driver, highlights the FCA's commitment to consumer protection and accountability in the finance sector. It matters because it not only provides financial relief to those wronged but also sets a precedent for stricter regulations in the industry.

Europe's Stoxx 600 index has dipped as concerns rise over a political crisis in France. This situation is significant as it could impact investor confidence and market stability across the continent. The unfolding events in France may lead to increased volatility in European markets, making it crucial for investors to stay informed about the developments.

The European Union is planning to impose a 50% tariff on excess steel imports to address the growing issue of overcapacity in the steel sector. This move comes in response to rising steel imports and tariffs from other countries, which have been creating additional challenges for EU steel producers. By implementing these tariffs, the EU aims to protect its domestic industry and stabilize the market, ensuring a more sustainable future for steel production in the region.