Connect with us

Business

Global markets rattled as Trump issues Greenland threats

Published

on

Global markets rattled as Trump issues Greenland threats


Global stock markets experienced significant declines as tensions escalated following Donald Trump’s renewed threats to acquire Greenland.

The FTSE 100 Index plunged over 120 points, shedding 1.3 per cent to reach 10068.4 shortly after opening on Tuesday, compounding a 0.4 per cent decline from Monday.

Across Europe, major indices also registered substantial losses, with Germany’s Dax down 1 per cent and France’s Cac 40 off 0.9 per cent in early trading, mirroring sharp overnight declines in Asia.

The controversy began on Saturday when Mr Trump threatened to impose tariffs of up to 25 per cent on nations, including the UK, that do not back his Greenland acquisition plans.

Mr Trump, who is en route to Davos, Switzerland, for the World Economic Forum, intensified his rhetoric concerning the acquisition of the Arctic territory.

Through a series of posts on his Truth Social platform overnight on Tuesday, he further articulated his desire to take over Greenland, a territory belonging to America’s Nato ally, Denmark.

US financial markets were closed on Monday for Martin Luther King Jr Day, but futures trading pointed to steep falls when equity trading reopens on Tuesday.

The FTSE 100 Index dropped more than 120 points soon after opening on Tuesday, down 1.3 per cent at 10068.4, after a 0.4 per cent fall on Monday (PA Wire)

Gold prices soared to another new record as investors sought out the safe haven asset, hitting $4,728 (£3,507) per ounce during morning trading on Tuesday.

Kathleen Brooks, a research director at XTB, said: “What happens next for financial markets will ultimately depend on President Trump’s actions in the coming days.

“The president posted a picture of himself holding a US flag on Greenland, suggesting that the territory will be owned by the US this year.

“However, he also said that he will hold a Greenland meeting at Davos, after a good conversation with the Nato secretary general and former Dutch PM Mark Rutte.

“For now, Trump is sticking to his guns and said that there is ‘no going back’ on his Greenland pledge.

“Thus, the meeting in Davos later this week will be critical.”

Yields on UK Government bonds, also known as gilts, edged higher amid a wider sell-off as Japan’s government bonds plunged, triggered by news of a snap election to be held on 8 February.

The pound continued to rise against a weak US dollar, up 0.4 per cent at $1.348, but was 0.3 per cent lower at €1.15.



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Starmer says ‘tide could be turning’ on shoplifting epidemic

Published

on

Starmer says ‘tide could be turning’ on shoplifting epidemic



Sir Keir Starmer claimed “the tide could be turning” against shoplifting as he set out the Government’s efforts to crack down on retail crime.

The Prime Minister said shop thefts were “slightly down” in the latest figures and he wanted wider use of technology which allows CCTV footage to be shared immediately with the police.

His comments came as a think tank highlighted figures showing 67% of shoplifting offenders go on to commit another offence within 12 months, up from 55% before the pandemic.

In an address to the Usdaw shopworkers’ union, Sir Keir said: “It’s disgraceful that people just working in their shop have to take abuse from customers.

“It’s disgraceful that people feel sick to the stomach thinking about how they’re going to get through the day and it’s disgraceful that people can have their lives and livelihoods ruined by persistent shop theft.”

He said the Government has put an extra 3,000 neighbourhood police officers on the streets and scrapped the “ridiculous”  rule which left theft of goods worth less than £200 “not properly investigated” by police.

“That was a shoplifters’ charter, and we’ve ended it and not before time,” he said.

“We’ve toughened up punishment too. We’re giving police stronger powers, making the abuse and assault of retail workers a specific crime and giving you the same protections as emergency workers.”

Sir Keir said he was “not blind to how big this challenge is” but said the number of people charged had gone up 17% in the latest statistics and shop theft was down.

The latest Office for National Statistics (ONS) data showed shoplifting offences fell slightly last year, down from 516,611 in 2024 to 509,566 in 2025.

Sir Keir said: “It’s only slightly down,  but the tide could be turning.”

The Prime Minister’s speech came as the Centre for Social Justice (CSJ) warned of a high street crime epidemic.

The centre-right think tank highlighted figures uncovered by former Tory leader Sir Iain Duncan Smith through parliamentary questions which showed the extent of repeat offending.

The think tank’s analysis showed the average number of offences committed by shoplifters has nearly doubled in five years, rising from 5.5 to 9.1 offences per convicted thief.

Sir Iain, the CSJ’s chairman, said: “Communities across Britain are suffering from a high street crime wave.

“Set against years of economic difficulties, there is a risk that some of our town and city centres are left permanently hollowed out.”

A standalone offence for assaulting a retail worker is set to be introduced in the Crime and Policing Bill going through Parliament.

But the two Houses of Parliament are currently in a tussle over the final draft of the Bill as the end of the parliamentary session nears.

Almost 80% of shop workers said they experienced verbal abuse, more than half said they were threatened by a customer and 10% said they were assaulted in the latest annual survey by retail trade union Usdaw.

The small drop in shoplifting in the ONS figures may reflect a change in how such offences are recorded.

Offences where someone has entered a retail premises, steals, then either uses or threatens violence against staff or other people should be classed as robbery of business, police forces were advised in April last year.

This may account for the steep increase in the number of such robberies recorded, which rose 78% to 26,158 in 2025.

Joanne Thomas, Usdaw general secretary, said the incoming legislation delivers “much-needed protection of retail workers’ law”.

She said: “While there has been a welcome small decrease in shoplifting across last year, the fact is retail crime continues to be a significant issue for the sector and particularly staff.

“Usdaw’s last survey found that this is in no way a victimless crime, with two-thirds of attacks on retail staff being triggered by theft or armed robbery.

“Having to deal with repeated and persistent offences can cause issues beyond the theft itself, like anxiety, fear and physical harm to retail workers.”

Shadow home secretary Chris Philp accused the Prime Minister of “brazen cheek”, saying Sir Keir was “part of the problem, not the solution”.

He said: “Shoplifting is up 8% under Labour, made worse by a drop in total police numbers of 1,300 in the last year alone.

“Starmer is abolishing prison sentences under a year, which means virtually no shoplifter will ever go to prison.

“The Conservative plan to take back our streets will see 10,000 extra police hotspot patrol high crime areas, combined with a tripling of stop and search and widespread use of live facial recognition to catch wanted criminals.

“Only the Conservatives have a plan to fix this.”



Source link

Continue Reading

Business

Gold prices rise rebound in Pakistan after recent decline – SUCH TV

Published

on

Gold prices rise rebound in Pakistan after recent decline – SUCH TV



Gold prices in Pakistan have risen again at the start of the business week after several days of decline, according to the All Pakistan Bullion Market.

The price of gold per tola increased by Rs 800, reaching Rs 493,962.

Similarly, the price of 10 grams of gold rose by Rs 686 to Rs 423,492.

In the global market, gold also recorded an increase of $8 per ounce, reaching $4,716.

Experts say global economic uncertainty, currency fluctuations, and investor preference for safe-haven assets are driving the upward trend in gold prices.

They add that changes in international markets directly impact Pakistan’s local bullion rates, leading to continued fluctuations in domestic prices.



Source link

Continue Reading

Business

Anta: The Chinese sports brand taking on Nike and Adidas

Published

on

Anta: The Chinese sports brand taking on Nike and Adidas



Now one of the biggest sportswear firms, Anta’s rise follows a playbook adopted by many Chinese giants.



Source link

Continue Reading

Trending