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Trade talks about ‘hard yards’ rather than photo opportunities, says Starmer

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Trade talks about ‘hard yards’ rather than photo opportunities, says Starmer



Whisky negotiations with the US are about “the hard yards” rather than “one-off photo opportunities”, the Prime Minister has said in a rebuke to First Minister John Swinney.

Mr Swinney has made securing a deal to cut whisky tariffs with the US a key part of his premiership in recent months, meeting President Donald Trump on a number of occasions this year in the hopes of reducing the levies.

The First Minister’s involvement in the talks comes despite international trade being a reserved issue, with the UK Government in the lead.

Speaking to a group of Scottish journalists in Downing Street on Monday, Prime Minister Sir Keir Starmer said: “Negotiations and getting the trade deals you want… is about the hard yards of negotiation and that’s what we’ve been up to.

“That’s what we’ve delivered in relation to the India deal and, as you can imagine, we’re continuing those negotiations and hard yards with the US, in particular in relation to whisky.”

He added: “The hard yards is what matters, creating relationships, having the conversations, and these things take time.

“They’re not a one-off photo opportunity.”

Both the Scottish and UK governments are “trying to achieve the same thing” on whisky, the Prime Minister said.

“In the end, I went to Scotland two or three days after the election to say I want to deliver for Scotland above all else and therefore, that’s why we continue these negotiations and discussions with the US and we will continue to do so.”

The First Minister has met with President Trump twice during a visit to his golf courses in the summer, at the State Visit in September and in a private audience at the White House in Washington DC, each time raising the plight of the industry, which claims to be losing £4 million per week due to the US-imposed tariffs.

Speaking to the PA news agency earlier this month, the First Minister said he would like to be involved in the trade talks between the two sides.

“I’ve not been privy to the trade talks,” he said ahead of the SNP’s conference in Aberdeen.

“I would like to be, because I think I’ve actually been quite helpful in all of this.

“It’s clear to me earlier on this year that whisky was not really featuring in the trade talks at all, it was not there as a principal negotiating priority for the UK Government.

“Well, I had to make sure it was, because it really matters to Scotland.”

A spokeswoman for the Scottish Government said: “The First Minister is focussed on securing a zero tariff deal for Scotch whisky, and has raised this matter on a number of occasions with key decision makers, including the President of the United States.

“Further trade negotiations are for the UK Government to take forward.”



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Industrial leasing boom: India’s top 8 cities see 28% rise; Delhi-NCR leads with 11.7 million sq ft – The Times of India

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Industrial leasing boom: India’s top 8 cities see 28% rise; Delhi-NCR leads with 11.7 million sq ft – The Times of India


Leasing of industrial and warehousing spaces across India’s eight major cities surged 28 per cent to a record 37 million sq ft during January-September 2025, driven by robust demand in Delhi-NCR, according to real estate consultancy CBRE. In comparison, total leasing across these top cities—including Delhi-NCR, Bengaluru, Mumbai, Hyderabad, Chennai, Pune, Kolkata, and Ahmedabad—stood at 28.8 million sq ft in the same period of 2024.As per news agency PTI, CBRE’s latest ‘India Market Monitor Q3 2025 – Industrial & Logistics’ report highlighted that Delhi-NCR accounted for the largest share of leasing activity at 11.7 million sq ft, followed by Bengaluru at 5.7 million sq ft and Hyderabad at 4.6 million sq ft.

‘We Are Growing Rapidly’ Karnataka Minister Links Bengaluru Jams To Rapid City Growth

Collectively, these three cities contributed 59 per cent of total space take-up. Mumbai and Kolkata registered leasing of 4.2 million sq ft and 3.8 million sq ft, respectively.Anshuman Magazine, chairman & CEO – India, South-East Asia, Middle East & Africa at CBRE, said, “The demand is largely led by the expansion of Third-Party Logistics (3PL) providers and the accelerated deployment of quick commerce. Companies are increasingly focused on supply chain optimisation and resilience, driving a mandate for sophisticated, high-specification Grade A assets that support automation and reduce last-mile friction.”As per PTI, Ram Chandnani, managing director, advisory & transaction services, India at CBRE, added that this momentum is expected to continue as businesses focus on optimising supply chains and expanding their footprints.During the January-September period, new supply reached 23.8 million sq ft, with institutional investor-backed developers continuing to expand. Bengaluru, Chennai, and Mumbai together accounted for 62 per cent of the total new supply in the first nine months of the year, the report noted.





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Coca-Cola tops earnings and revenue estimates but says demand for drinks is still soft

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Coca-Cola tops earnings and revenue estimates but says demand for drinks is still soft


Sina Schuldt | Picture Alliance | Getty Images

Coca-Cola reported its fiscal third-quarter earnings before the bell on Tuesday.

Here’s what the company reported compared with what Wall Street analysts surveyed by LSEG were expecting:

  • Adjusted earnings per share: 82 cents adjusted vs. 78 cents expected
  • Adjusted revenue: $12.41 billion adjusted vs. $12.39 billion expected



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Lights, camera, investment: From buying movies to co-owning it – Hollywood pushes into Indian cinema – The Times of India

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Lights, camera, investment: From buying movies to co-owning it – Hollywood pushes into Indian cinema – The Times of India


Foreign studios are stepping up their game in India’s entertainment market as cinema revenues recover and streaming platforms grow. According to industry insiders, this marks Hollywood’s “second wave” in the country, with global players now moving beyond just distributing films to actively producing and co-owning Indian-language projects.Amazon MGM Studios has announced plans to release three to four Indian films in theatres each year from 2026, before they appear on Prime Video.

Trump Slaps 100% Tariff On Foreign Films — What It Means For Bollywood & Tollywood

“While our core business is streaming, we believe in the theatrical window and the magic of theatres,” said Nikhil Madhok, head of originals at Prime Video India and Amazon MGM Studios. “Depending on the kind of film that we are producing, we take a joint call with our creators in terms of which project can go to theatres first,” he further told ET.Warner Bros. Pictures is teaming up with Bhanushali Studios and JOAT Films in a five film deal, to develop Indian adaptations of classic Warner titles. Under the agreement, Warner will provide intellectual property and global distribution support, while the Indian studios will lead creative and production decisions.Meanwhile, Universal Studios, part of Comcast, is reportedly planning an indoor theme park near Delhi. The studio has also held early discussions with Excel Entertainment, founded by Farhan Akhtar and Ritesh Sidhwani, about a potential partnership, though nothing has been finalised.“Global studios are renewing their focus on Indian cinema, moving from distribution to local production,” Nitin Menon, managing partner at NV Capital told ET. “Amazon MGM’s Superboys of Malegaon, Nishaanchi and Mirzapur mark a shift toward theatrical storytelling. Warner Bros.’ partnership, coinciding with Paramount’s potential acquisition, could unlock capital for deeper expansion. Universal may follow with co-productions as Hollywood recalibrates its India playbook. Theatres are back in focus, though Netflix remains committed to digital-only releases.According to Ormax, India’s box office collections for 2025 have reached ₹9,409 crore as of September, up 18% from last year. The country also has 601 million OTT users, including 148 million paying subscribers.After pandemic lows, multiplex attendance and ticket sales are rising across languages. Streaming continues to grow, creating a twofold revenue model for films: theatrical runs plus digital licensing. For studios, local productions also allow them to create intellectual property that can generate music, merchandising, and streaming revenue globally.“Hollywood’s second wave in India is about reducing risk, not planting flags,” said Adi Tiwary, a Sydney-based producer. Tiwary further told ET, “The trend is to build with Indian partners, use library IP to de-risk, and let theatrical and streaming work in tandem. Hollywood has learned that India rewards local muscle and disciplined windowing.”Neeraj Vyas, CEO of Bhanushali Studios, added, “They’re re-entering cautiously, focusing on mid-budget, locally rooted films rather than big productions. With cost rationalisation underway in the US, it’s about testing the waters and understanding audience shifts.”10 years ago, Hollywood studios largely operated in India through distribution deals, buying completed films for high guarantees. However, today global players are co-developing stories and co-owning intellectual property, aiming to build franchises that can be marketed worldwide.“The foreign studio model has matured from buying content to co-owning it,” said Suniel Wadhwa, co-founder of Karmic Films.





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