US small businesses sound alarm over Trump’s tariffs amid crucial holiday season

Donald Trump has granted clemency to David Gentile, a private equity executive convicted for his involvement in a $1.6 billion fraud scheme that defrauded thousands of investors. Gentile had recently begun serving a seven-year prison sentence following his conviction in May. This decision has drawn significant attention due to the nature of the crime and the timing of the clemency.

The upmarket bakery chain Gail's has announced plans to open 40 additional outlets following a significant sales increase of 20% last year, bringing total sales to £278 million. Despite the growth, the company reported a widening pre-tax loss of £7.8 million, attributed to rising staff and energy costs as well as expenses related to the expansion of new locations.

Utah has become the first state in the US to pass legislation allowing the purchase and installation of small, portable solar panels that can be plugged into standard wall sockets, making solar energy more accessible to residents. This change is expected to enable millions of Americans to benefit from balcony solar technology, which is simpler and less expensive than traditional solar panel systems.

Research in England indicates that water shortages could significantly hinder the UK's plans to achieve net zero emissions, particularly affecting carbon capture and hydrogen projects. The Environment Agency has raised concerns about potential widespread drought conditions in the coming year, intensifying tensions among government, water suppliers, and regulators.

President Donald Trump announced the closure of Venezuelan airspace, coinciding with a significant increase in U.S. military presence near the country. This decision is part of a broader strategy aimed at combating drug cartels and supporting efforts to remove President Nicolás Maduro from power.

Research indicates that the UK has at least 8,000 illegal waste sites, containing around 13 million tonnes of rubbish, leading to an estimated £1.63 billion in avoided landfill taxes. This alarming situation raises significant concerns regarding public health and environmental safety.

Chancellor Rachel Reeves announced that individuals relying solely on the state pension will not be subject to income tax, a move that could create a two-tier system for retirees. The new state pension is set to increase to £241.30 per week in April, just below the personal tax allowance threshold.

Premier League clubs are set to face increased wage bills following the government's budget announcement that image rights payments will be taxed at 45% starting April 2027. This change will significantly impact many top-flight players, as several already have clauses that make clubs liable for these payments.