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Trump announces 0% tariff on generic medicines for two years; 200% thereafter

US President Donald Trump on Tuesday announced a phased tariff regime on imported generic medicines, saying they will continue to enter the United States duty-free for two years and then steep tariff hikes aimed at bringing pharmaceutical manufacturing back to the country.

IRS in the hot seat over potential cash grab from Spain's World Cup winnings: 'It's a ripoff'

As reigning 2026 FIFA World Cup champions, Spain won $50 million in prize money, but a large portion of that could be subject to federal taxes in the United States — potentially up to 30%."I think it's a ripoff," Rep. Tim Burchett, R-Tenn., told Fox News Digital."I'm not a fan of it, but Americans have to do it. American professional athletes do it, so they knew that when they came over here."SPAIN BEATS ARGENTINA TO WIN 2026 FIFA WORLD CUP BEHIND FERRAN TORRES' EXTRA-TIME GOALIncome earned from...

'I can't afford to turn the oven on': 7.4m households struggling to buy essentials

'I can't afford to turn the oven on': 7.4m households struggling to buy essentials Image caption, Elaine Yates, 77, says she can't remember the last time she used her oven to cook a hot meal By Eleanor LawrieSocial affairs reporterPublishedJust nowFour years into the cost of living crisis, almost two-thirds of low-income families say they struggle to buy essentials such as clothes, heating and food, according to anti-poverty charity the Joseph Rowntree Foundation (JRF).A record 62% of low-income...

Boost youth jobs by cutting employers' national insurance, MPs urge

Boost youth jobs by cutting employers' national insurance, MPs urgeImage source, Getty ImagesByMitchell LabiakBusiness reporterPublished6 minutes agoEmployer national insurance (NI) contributions for all under-25s should be cut to boost job opportunities for young people, a group of MPs has urged.The Work and Pensions Committee said it has heard "overwhelming evidence" that rising employment costs, including from employer NI, were reducing training and job vacancies, particularly for young peopl...

Will AI help you do your job or replace you?

Will AI help you do your job or replace you?Published5 minutes agoByFaisal Islam, Economics editor, Phil Leake, Miguel Roca-Terry, Data journalists and Jess Carr, Data designerArtificial Intelligence (AI) companies are making vast claims about the ability of their tools to replace human labour.Some jobs will be automated, others will be "augmented". The bosses of the world's biggest companies are diverting vast sums into these tools, partly with the knowledge that they could save money on headco...

The Digital Divide: How Champions League Qualifying Exposes Football's Wealth Gap

'It's frustrating' - Canadians react to new US tariffs

'It's frustrating' - Canadians react to new US tariffsTo play this video you need to enable JavaScript in your browser.This video can not be played'It's frustrating' - Canadians react to new US tariffsCloseUS President Donald Trump has imposed a 50% tariff on a wide range of goods imported from Canada, in retaliation for what he called "unequal treatment" of US cars, dairy and alcohol.The BBC spoke to Canadians in Montreal from across the country about their concerns over the new tariffs. Video...

James Patten sentenced to 21 months for $100m New Jersey deli stock fraud

James Patten, the former stockbroker behind the infamous stock manipulation scheme that turned a small, money-losing New Jersey deli into a company valued at nearly $100 million, has been sentenced to 21 months in federal prison. Patten, 67, was sentenced on Tuesday by U.S. District Judge Christine O'Hearn in Camden, New Jersey, bringing one of Wall Street's most unusual securities fraud cases to a close.

From defence uplift to national care service, Andy Burnham faces question of funding

As new prime minister briefs cabinet on ‘cost of living government’, critics ask where money will come fromUK politics live – latest updatesAndy Burnham is under mounting pressure to explain how he will pay for his policy pledges as he implored his new cabinet to examine “all possible ways” to tackle the cost of living crisis.On his first full day in power, the prime minister faced questions about how he would fund the removal of VAT from electricity bills and also an expected uplift in defence...

Centre uses 40% of annual fertiliser subsidy in first 3.5 months

NEW DELHI: Govt has spent Rs 70,709 crore, nearly 40% of the fertiliser subsidy allocated for 2026-27, in the first three-and-a-half months of the current fiscal year, indicating the subsidy bill is set to exceed the budget estimate due to the conflict in West Asia.

Bombay HC grants Rs 20,000 maintenance to educated, unemployed wife

The Bombay High Court enhanced a wife's monthly maintenance payment. An educated wife cannot be denied support simply for possessing qualifications. The court found no proof the wife quit her job to claim maintenance. The husband's claims of her employment were unsubstantiated by evidence. The court considered the husband's income and the child's expenses.

Buffett: Gates knew foundation funds would stop, admits Epstein error, trusts kids with fortune

Warren Buffett has confirmed that the Bill & Melinda Gates Foundation will no longer receive any future donations from him, ending a philanthropic partnership that lasted more than two decades. The 95-year-old Berkshire Hathaway chairman said the decision was part of a broader review of his estate plans and not a reflection of his personal friendship with Bill Gates. Buffett said Gates was aware of the decision and that the two remain close friends despite recent public scrutiny surrounding Gate...

Returning Stokes hits ton as Durham beat Derbyshire

Returning Stokes hits ton as Durham beat DerbyshireImage source, PA MediaImage caption, Ben Stokes's hundred was his 10th in List A cricketPublished7 minutes agoBen Stokes defied severe cramp to grab the headlines once again with a typically gutsy century on his return to competitive action for the first time since retiring from Test cricket three weeks ago. He helped Durham beat Derbyshire in the One-Day Cup.The all-rounder was playing his first List A game for his county for nearly 12 years an...

India's growth remains strong, but trade barriers threaten 2047 goal: WTO

India's strong economic growth continues, but structural reforms are needed for developed nation status. High trade costs and regulatory complexity present significant challenges to global integration. The World Trade Organization report notes progress in trade facilitation and financial inclusion. India is actively pursuing free trade agreements to boost its export strategy. Achieving a larger share of global exports requires balancing self-reliance with greater openness.

Trump: 50% tariffs response to Canada's treatment of US farmers

Trump: 50% tariffs response to Canada's treatment of US farmersTo play this video you need to enable JavaScript in your browser.This video can not be playedTrump: 50% tariffs response to Canada's treatment of US farmersCloseUS President Donald Trump has imposed a 50% tariff on a wide range of goods imported from Canada, in retaliation for what he called "unequal treatment" of US cars, dairy and alcohol. On Tuesday, he said the tariffs are a response to how Canada has treated US farmers. The Whit...

Union plans rail strike action over three weekends

Union plans rail strike action over three weekendsImage source, Getty ImagesImage caption, The RMT union said it had been in dispute with East Midlands Railway since April following the rollout of its 810 fleetByKaty Austin, Transport correspondent and Dan Hunt, East MidlandsPublished12 minutes agoA union that represents railway staff has announced plans for its members at East Midlands Railway (EMR) to take strike action over "growing safety concerns the company has failed to address".The RMT u...

Burnham tells cabinet to tackle living costs at first meeting

Burnham tells cabinet to tackle living costs at first meetingImage source, ReutersByPaul SeddonPolitical reporterPublishedJust nowAndy Burnham has promised to lead a "cost of living government," as he chaired his first cabinet meeting as prime minister.He told his newly-assembled top team that he wanted to make living expenses a key priority, and give people a "sense that help is coming" on costs.It comes after he announced a VAT cut to household energy bills from October, in his first major ann...

Three reasons why UK electricity prices are so high

Three reasons why UK electricity prices are so highByBen Chu, Policy and analysis correspondent and Anthony Reuben, BBC VerifyPublished5 minutes agoWhile the UK government has announced it will cut VAT on domestic electricity this October from 5% to zero in an attempt to help with the cost of living, British households are still paying more for power than many other European nations.Comparing UK prices with the EU shows that medium-use households here paid the fourth-highest electricity prices i...

Can airport really go carbon neutral amid plans to expand flights?

Can airport really go carbon neutral amid plans to expand flights?Image caption, All the cars and buses at the airport run on green electricity, but the planes still use fossil fuelsByDave Harvey, West of England business and environment correspondent and Matty Edwards, BristolPublished21 July 2026Giant heat pumps, electric vehicles, and new fuel efficient planes are being ordered by an airport introducing major changes to cut its carbon emissions.But climate campaigners say the measures "barely...

India buys more Russian, Latin American crude as Middle East supplies dip

India stepped up imports from Moscow once Washington granted a temporary waiver, helping offset reduced supplies from Gulf producers caused by the disruption of traffic through the strategically important Strait of Hormuz.