Business
Hyundai says opening of raided plant to be delayed
A massive immigration raid at a Hyundai plant in the US will delay its opening by at least two months, according to the company.
The raid has raised tensions between the US and South Korea, where many of those detained were from, with the South Korean president warning that it will discourage foreign investment into the US.
South Korean officials have said many of the workers had been sent to the US factory temporarily to help get it going.
Hyundai chief executive José Muñoz told US media the raid will create “minimum two to three months delay [in opening the factory] because now all these people want to get back”.
The raid in the state of Georgia was the biggest in US history, leading to the detention of 475 people, including roughly 300 people from South Korea.
US immigration officials said the workers were not authorized to work in the US while South Korean officials said it is common practice for Korean firms to send workers to help set up overseas factories.
The workers are due to return home on Friday. Their flight, initially set for Wednesday, was delayed after Trump proposed they remain in the US to continue training American workers, according to South Korean officials. All but one person rejected that offer.
Mr Muñoz said the firm is figuring out how it will fill the positions of the workers who plan to return to South Korea.
None of the people arrested at the site last week were directly employed by Hyundai, according to the company.
LG Energy Solution, which operates the battery plant in Georgia with Hyundai, said that many of its employees who were arrested had various types of visas or were under a visa waiver programme.
At a press conference on Thursday, South Korea’s president said if such arrangements were no longer allowed, it would make building factories in the US “more difficult… making companies question whether it’s worth doing at all”.
The situation has raised questions about the viability of the trade deal that the US and South Korea had agreed earlier this year, in which President Donald Trump had agreed to drop some of his steepest tariff threats, in exchange for promises of billions of dollars of investment.
Hyundai alone had pledged $26bn (£19.2bn), including a new steel factory in Louisiana that had been celebrated by Trump, who has made boosting foreign investment in the US to revive manufacturing a top priority.
The site of the raid is part of a bigger complex in Georgia that is eventually supposed to create 8,500 jobs and had been hailed as the largest economic development project in the state’s history.
Business
Tariff jitters: US consumer confidence slips in December; inflation and jobs worries deepen – The Times of India
US consumer confidence weakened in December, sliding to its lowest level since President Donald Trump rolled out sweeping tariffs earlier this year, as households grew more anxious about high prices, trade levies and job prospects, according to a survey by the Conference Board.The Conference Board said its consumer confidence index fell 3.8 points to 89.1 in December from an upwardly revised 92.9 in November, AP reported. The reading is close to the 85.7 level recorded in April, when the Trump administration introduced import taxes on key US trading partners, AP reported.Consumers’ assessment of current economic conditions saw a sharper drop. The present situation index fell 9.5 points to 116.8, reflecting growing unease about inflation and employment conditions. Write-in responses to the survey showed that prices and inflation remained the biggest concern for consumers, alongside tariffs.Short-term expectations for income, business conditions and the labour market were little changed at 70.7, but remained well below 80 — a threshold that can signal a recession ahead. This was the 11th straight month that expectations stayed under that level.Perceptions of the job market also weakened. The share of consumers who said jobs were “plentiful” fell to 26.7% in December from 28.2% in November, while those who said jobs were “hard to get” rose to 20.8% from 20.1%.The softer sentiment follows recent labour market data showing mixed signals. Government figures released last week showed the US economy added 64,000 jobs in November after losing 105,000 jobs in October. The unemployment rate climbed to 4.6% last month, its highest level since 2021.Economists say the labour market is stuck in a “low hire, low fire” phase, as companies remain cautious amid uncertainty over tariffs and the lingering effects of high interest rates. Since March, average monthly job creation has slowed to about 35,000, down from 71,000 in the year ended March. Federal Reserve chair Jerome Powell has said he suspects those figures could be revised even lower, AP reported.
Business
US economy grows at fastest pace in two years
The US economy picked up speed over the three months to September, as consumer spending jumped and exports increased.
The world’s largest economy expanded at an annual rate of 4.3%, up from 3.8% in the previous quarter. That was better than expected, and marked the strongest growth in two years.
The figures offer a clearer picture of the state of the US economy heading into the end of the year, after data collection had been delayed by the US government shutdown.
The report showed consumer spending rising by 3.5%, compared with 2.5% in the previous quarter.
Business
Fish and chip shop offers 100 free Christmas meals in Southampton
“It’s just a way of us giving back to the community,” says a fish and chip shop owner, who is giving away 100 free meals on Christmas Eve.
Raj Khaira, from Southampton, has owned Top Catch fish and chips in Shirley for five years and says he wants to support lonely people in the area.
He says he feels lucky to have a big family but knows for some customers a conversation with a shopkeeper might be the only one they have some days.
He says the shop will give portions of sausage and chips to those in need as a way of “giving back to the people who haven’t got family around them and sometimes can’t afford a hot meal”.
Mr Khaira speaks about working in business all of his life and how much he enjoys meeting “different people every day, from different backgrounds”.
“I’ve done it since I was a young kid so it’s all I really know,” he says.
He adds that many of his customers are elderly and do not have connections over the festive period.
“Christmas for majority of us is probably going to be a joyful and busy day but for some people it’s probably going to be a quiet day,” he says.
After posting about the plans to donate on social media he received a lot of publicity and Mr Khaira is prepared to “probably do more than” 100 meals.
He says the shop has already organised a toy and present drop off to Southampton hospitals this December, with many of the donations coming from customers.
He says: “We’re only where we are as a busy shop because of our community and our lovely customers that come in and sometimes you’ve got to give back and I’m happy to do that.”
Looking back on some of the negative news reported in Shirley earlier this year with the rise in anti-social behaviour in the area, he admits he had suffered.
His shop window was smashed in the summer, but he says: “Christmas time lets us just try and forget that for a minute and just try and have a good time, and reflect back on the year and hopefully next year is going to be a better one.”
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