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Gold price soars past $3,500, sets new record – SUCH TV

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Gold price soars past ,500, sets new record – SUCH TV



Gold prices surged to a record high above $3,500 on Tuesday, as investors flocked to safe-haven assets amid global economic uncertainty. The precious metal touched $3,501.59 per ounce during early trading in Asia, surpassing its previous record of $3,500.10 set in April.

The rally in gold comes as investors weigh a weakening US dollar and the potential for interest rate cuts by the Federal Reserve.

Wall Street pulled back from record highs on Friday after a key US inflation report showed accelerated prices, limiting the Fed’s policy flexibility.

Markets were closed on Monday for Labor Day, while the US dollar traded mixed against major currencies.

Last month, former President Trump said he would fire Federal Reserve governor Lisa Cook if she did not resign, following his criticism over alleged mortgage fraud claims.

The record also came after a US appeals court ruled that many of Donald Trump’s tariffs, which have upended global trade, were illegal.

But it allowed the measures to remain in place for now, giving the US president time to take the fight to the Supreme Court.



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Flight go-arounds, returns to bay ‘entirely normal’: Air India chief – The Times of India

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Flight go-arounds, returns to bay ‘entirely normal’: Air India chief – The Times of India


NEW DELHI: Air India chief Campbell Wilson has told employees that there is nothing alarming about the go-around and flights returning to the bay in context of the carrier’s “scale and size” and said that the “the incidence rate is entirely normal”.“Over the past few months, our operations have garnered significant attention… Like all airlines, we face a variety of operational scenarios – some of which are under our control, and some that are not. When the spotlight is on us, it’s crucial to offer timely, clear and accurate information and the right context. So over recent weeks we have been even more transparent than usual in reporting incidents and events, however small,” the Air India MD & CEO said.AI hopes this “transparency will, over time, help build trust”. But “in the short term though, it naturally results in an uptick of news coverage, and with more than 1,200 departures every single day – nearly one every minute – across the Air India Group, it can seem like a lot. In context of our scale and size, however, the incidence rate is entirely normal,” he said.Tatas had acquired AI along with AI Express in Jan 2022 and returning the Maharaja’s lost glory is among the toughest challenges in contemporary aviation. So over three-and-a-half years after the return to founder Tata fold, AI is still tackling multiple challenges. The DGCA has fined AI on multiple occasions over violations.To be fair, AI is not the only airline that has faced DGCA ire over alleged deficiencies and also every carrier faces the same from time to time. But AI Group and IndiGo are seen as key to India’s dream of becoming an aviation superpower as that requires strong home airlines.After the Ahmedabad crash, in which 260 people died, AI has downsized its operations after June 12 for factoring in things like enhanced aircraft checks and plans to restore all international flights from next month. On his part, Campbell Wilson said in his message to employees that “our performance continues to improve thanks to the collective efforts across the organisation.” These, according to him, include improved on time performance and baggage handling.“We’ve empowered our front-line teams with the ability to offer e-vouchers to customers in cases where a service shortfall has occurred, such as for mishandled baggage, and are also working to extend this capability to our cabin crew, enabling them to provide on-the-spot resolution to customers during their journey,” he said.





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Travellers facing severe Tube disruption with few to no services running

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Travellers facing severe Tube disruption with few to no services running



Travellers are facing severe disruption as few to no London Underground services are expected from Monday amid walkouts by thousands of workers.

Members of the Rail, Maritime and Transport union (RMT), including drivers, signallers and maintenance workers, launched a series of strikes over pay and conditions.

The action kicked off on Sunday with limited services running but levels of disruption are set to ramp up as Transport for London (TfL) warned there will be few or no services between Monday and Thursday.

No trains will be running before 8am and passengers are asked to complete journeys by 6pm.

There will also be no Docklands Light Railway services on Tuesday and Thursday because of a strike by RMT members in a separate pay dispute.

TfL has offered a 3.4% pay rise which it described as “fair” and said it cannot afford to meet the RMT’s demand for a cut in the working week.

Nick Dent, London Underground’s director of customer operations, said union demands for a cut in the 35-hour week were “simply unaffordable” and would cost hundreds of millions of pounds.

The last Tube-wide strike was three years ago, over pay and pensions, but Mr Dent said this week’s action will be different because separate groups of workers will walk out on different days.

“It will be very damaging for us,” he added.

An RMT spokesperson said: “We are not going on strike to disrupt small businesses or the public.

“This strike is going ahead because of the intransigent approach of TfL management and their refusal to even consider a small reduction in the working week in order to help reduce fatigue and the ill health effects of long-term shift work on our members.

“We believe a shorter working week is fair and affordable, particularly when you consider TfL has a surplus of £166 million last year and a £10 billion annual operating budget.

“There are 2,000 fewer staff working on London Underground since 2018 and our members are feeling the strain of extreme shift patterns.

“London Underground is doing well financially and all our members want is fair consideration. But TfL is refusing to even consider marginally reducing the working week, citing costs ranging from tens of millions to now hundreds of millions.

“We remain open to talks, securing a negotiated settlement and call on the mayor of London to intervene.”

Passengers have been urged to check before they travel, with buses as well, which are expected to be busier than usual.



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Supermarkets and shops hit hardest by business rates shake-up – research

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Supermarkets and shops hit hardest by business rates shake-up – research



Changes to property taxes designed to “level the tax playing field” between high street and online retailers will hit shops including supermarkets and department stores hardest, according to new analysis.

Research by global tax services firm Ryan found the changes to business rates coming into force next year will hit thousands of physical stores with major bill increases.

Experts have said the “policy risks penalising the very businesses that anchor the high street”.

From April 2026, the Treasury will introduce a new business rates surcharge of up to 10p on properties with a rateable value (RV) of £500,000 or more.

It has previously said the surcharge is designed to permanently fund reduced levels of the commercial property tax for smaller retail, leisure, and hospitality premises.

The Government said that the measures launched at the previous autumn budget were intended “to level the playing field for the high street”.

Analysis of official Government data by Ryan found that retail, leisure and hospitality businesses are likely to face up to £482 million a year in extra business rates on just their physical premises alone.

The data shows that warehouses and distribution operators will face a smaller hit of about £262 million.

Meanwhile, almost three times as many retail, hospitality and leisure properties – 4,353 – could be impacted compared to 1,589 large distribution warehouses.

The research indicated that more than 1,803 large supermarkets would see rate increases.

Meanwhile, there would be an increase of about £75 million across 650 UK hospitality businesses, with an increase of up to £48.5 million across 429 leisure properties.

Alex Probyn, practice leader for property tax at Ryan, said: “The bluntness of this policy is stark.

“Only 129 properties are pure online retailers, yet thousands of supermarkets, department stores and out-of-town chains — plus the HQs and distribution centres that support them — will be dragged into this new tax.

“Instead of targeting the online operators it was designed to address, the policy risks penalising the very businesses that anchor the high street and provide mass employment.”



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