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Estée Lauder is set to double its planned job losses to as many as 7,000 roles, citing rising costs and ongoing uncertainty around President Donald Trump’s import tax crackdown.

The US cosmetics giant, which owns brands such as Clinique, MAC, and Jo Malone, had originally planned a smaller restructuring but now says cutbacks could affect up to 11% of its 62,000-strong workforce.

Chief executive Stéphane de La Faverie said the move aims to save around $1 billion (£805 million) as the group braces for the “risk of recession,” additional tariffs and global trade tensions. While Canada and Mexico have been granted a temporary reprieve from new US levies, shipments of goods from China face increased duties. That has already prompted retaliatory measures from Beijing, adding to the uncertainty for global retailers.

Estée Lauder sources ingredients across the globe, including Australia and Madagascar, and sells in over 150 countries. Under Trump’s heightened tariffs, cosmetics could be taxed further at each border crossing, impacting supply chains and profit margins.

For the three months to 31 December, Estée Lauder reported a $650 million (£518 million) pre-tax loss, compared with a $519 million profit a year earlier, citing weaker sales in China, Korea, and duty-free airport locations. Revenues declined by 6% to $4 billion (£3.2 billion).

The company has not specified where the job cuts will fall, but it employs around 4,400 staff in the UK and Ireland. Some employees may be redeployed to new roles as part of the restructuring. The scale of the changes echoes warnings from other multinational businesses, including Diageo, which have signalled a potential hit from the evolving tariff stand-off.

Many industries, ranging from automotive to agriculture, are watching the trade dispute closely. China added American fashion house PVH—owner of Calvin Klein and Tommy Hilfiger—to its “unreliable entity” list, fuelling concerns that US brands could face fresh sanctions and reduced business opportunities in the world’s second-largest economy.

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Estée Lauder to axe up to 7,000 jobs as global sales decline

The US Postal Service (USPS) has resumed accepting parcels from mainland China and Hong Kong, reversing a brief suspension triggered by new trade measures introduced by President Donald Trump.

The move follows a dramatic shift in America’s import duties, with the White House scrapping an exemption that previously allowed packages worth under $800 (£641) to enter the country tax-free.

The rapid policy change caused temporary disruption to cross-border shipments. USPS acknowledged the brief suspension of parcel deliveries from China but said it is now “working closely” with US Customs and Border Protection (CBP) to collect tariffs efficiently and minimise delays. Letters are unaffected by the new rules, but the import of consumer goods, notably fashion items, now faces higher taxes and stricter checks.

Online retailers Shein and Temu are among those that had benefited most from the former duty-free threshold, which had also helped them expand rapidly in the UK and the EU. Critics argue that waiving duties on small parcels undercuts domestic retailers and deprives governments of vital tax revenue. Nick Stowe, chief executive of Monsoon Accessorize, praised the US clampdown, stating that Shein “exploited this loophole” to build a “business at an industrial scale”.

Other countries are following the US example. The EU has plans to increase customs checks on so-called “low-value” shipments—currently exempt on items worth less than €150 (£124)—and has warned fashion platforms such as Shein and Temu they will be held liable if unsafe products are sold on their websites. According to the European Commission, 4.6 billion low-value items were imported into the EU last year, with 91% originating in China.

UK retailers, including Superdry boss Julian Dunkerton, want similar reforms to close what they see as an unfair gap in import duty. Under British rules, parcels worth less than £135 sent directly to individual shoppers are currently duty-free. “The rules weren’t made for a company sending individual parcels [and] having a billion-pound turnover in the UK without paying any tax,” Dunkerton said, arguing that e-commerce giants should pay their “fair share”.

Washington’s broader tax overhaul includes a 10% tariff on all goods imported from China. In response, Beijing has threatened retaliatory measures against US businesses. With tensions escalating on both sides, and President Trump saying he is in “no rush” to meet Chinese president Xi Jinping, further disruption to global supply chains may lie ahead.

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US Postal Service restarts China deliveries as Trump tightens import tax rules

Ewan Venters, the former chief executive of Fortnum & Mason, has joined the board of the designer label Paul Smith Ltd.

His appointment as a non-executive director comes shortly after stepping down as CEO of global contemporary art gallery Hauser & Wirth, where he also oversaw the acquisition of London’s famous Groucho Club.

Sir Paul Smith, founder and chairman of the eponymous fashion brand, described Venters’ arrival as “a pivotal moment”, emphasising that the company is exploring “key strategies to shape the future” of the business. Venters, who was honoured with an OBE in 2024 for services to international trade, said he had long admired “what is indisputably a great British brand” and was excited about the label’s next phase of growth.

Before Hauser & Wirth, Venters spent eight years at Fortnum & Mason, presiding over a period of record performance. He also held senior posts at Selfridges and is currently chair of the private sector council of the government’s GREAT campaign. In addition, he sits on the newly formed Soft Power Council and serves as a trustee of the King’s Foundation.

Paul Smith Ltd, founded in 1970, made its name in menswear before expanding into other areas of fashion and lifestyle. A significant minority stake in the company was sold to Itochu, its Japanese licensing partner, in 2006. Although Sir Paul remains closely involved with the brand, Venters’ appointment suggests a renewed focus on strategic innovation and expansion for the heritage British label.

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Ex-fortnum chief Venters fashions new role at Paul Smith

Plans to introduce a British Sign Language (BSL) GCSE from September 2025 are facing a lengthy delay, leaving students and campaigners disappointed.

Despite the government’s pledge last year to roll out the qualification by the start of the 2025 academic year, education officials have acknowledged it could take several more years before a final syllabus is ready for UK secondary schools.

Under the proposed two-year course, successful students would gain a level two qualification in BSL — widely recognised as the fourth most used language in Britain. The delay has drawn sharp criticism from deaf charities, parents and advocates, who argue the government should move faster to meet the growing demand for BSL.

Susan Daniels, chief executive of the National Deaf Children’s Society (NDCS), said: “Deaf young people have been campaigning for so many years to get this GCSE in place, but they’ve just been left in limbo. It’s a disgrace.”

Wales has already scrapped its plans to introduce a BSL GCSE, citing practical challenges. In England, the Department for Education insists it is working with Ofqual to ensure the eventual qualification is “high quality and rigorous”. However, no revised date has been set for its rollout.

For parents, the delay is more than an administrative annoyance. Many, like Ruth Taunt, have spent thousands of pounds learning BSL to communicate effectively with their children. She believes a formal GCSE “will be a game-changer” not just for families with deaf children but also for hearing students who want the opportunity to learn the language alongside their standard GCSE subjects.

While the government stresses that VAT and customs charges for overseas products are designed to strike a balance between lowering consumer costs and supporting UK businesses, critics argue the foot-dragging on BSL education is undermining inclusivity. The British Deaf Association estimates there are around 151,000 BSL users in the UK, including 87,000 who are deaf — a substantial population that stands to benefit from easier communication with the hearing community.

Both the Department for Education and Ofqual say they are consulting widely to deliver a well-designed exam that “meets the needs of students learning BSL”. But for many in the deaf community, the extended timeline risks allowing another generation of deaf learners to progress through school without equal access to effective communication tools.

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Delay to new sign language GCSE branded ‘a disgrace’ by deaf community

A group of British retailers has urged ministers to follow Donald Trump’s lead in abolishing a tax loophole that allows Chinese ecommerce platforms such as Shein and Temu to avoid customs duties.

Prominent figures including Theo Paphitis, Julian Dunkerton, Touker Suleyman and Harold Tillman argue the current “de minimis” rule gives foreign companies an unfair edge.

In the US, President Trump has vowed to scrap a similar exemption that spares packages under $800 from import charges. The British threshold of £135 means Shein and Temu pay no customs duty on small shipments, a perk UK retailers say deprives the Treasury of vital revenue and undermines domestic businesses.

Theo Paphitis, owner of Boux Avenue, Ryman and Robert Dyas, warns continuing to let overseas firms skirt tax could be “suicide” for the UK retail sector. Julian Dunkerton, co-founder of Superdry, also believes Trump’s approach is the right step, while Touker Suleyman, owner of Gieves & Hawkes, praises the American president for “having the guts” to address the issue.

Shein is said to be considering a float on the London Stock Exchange worth up to £50 billion, a move that could boost UK markets and bring significant investment. However, Theo Paphitis counters that any benefit from such a listing could be overshadowed by the “billions” lost to HM Revenue & Customs and the strain on British high streets.

The Treasury maintains that the current regime aims to strike the right balance: although goods worth up to £135 from overseas do not attract customs duty, they still incur VAT at the same rate as domestic items. Yet many retailers, including Mark Ashton, founder of Little Mistress, believe the UK is “losing millions in tax revenue” that could be reinvested in the economy. They are calling for reforms to create a level playing field and to ensure domestic retailers remain competitive.

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UK retailers call on government to end China’s tax-free advantage

Lloyds Banking Group is facing a £1 billion bill after a tax tribunal ruled against it in a dispute tied to losses in Ireland dating back nearly 15 years.

The First-tier Tribunal Tax Chamber has dismissed the lender’s appeal against HM Revenue & Customs’ stance that Lloyds incorrectly claimed £3.8 billion in tax relief linked to its Irish operations, which were wound down following the 2008 financial crisis.

The case stems from the rescue of HBOS by Lloyds in 2008, a deal orchestrated by the government during the banking turmoil. Within two years, the Bank of Scotland’s Irish unit—part of HBOS—was shut down after racking up heavy property loan losses. Lloyds, led by chief executive Charlie Nunn, has long challenged HMRC’s assessment, which it first disclosed in 2012, warning then that it could face a £1 billion demand.

A spokesperson for Lloyds said the group “respectfully but fundamentally disagrees with the tribunal’s decision” and will appeal. If further appeals fail at the Upper Tribunal and higher courts, Lloyds could eventually have to pay the full amount sought by HMRC.

It is an unwelcome setback for Britain’s biggest domestic bank, which is already grappling with another potential financial hit—this time in its motor finance division. The group has set aside £450 million to cover customer redress after the Financial Conduct Authority launched a review into potential mis-selling in the car loans market. That investigation intensified in October when the Court of Appeal ruled in a separate case involving MotoNovo Finance and Close Brothers, potentially exposing lenders to tens of billions of pounds in liabilities.

The Supreme Court is due to hear an appeal in April, with the government seeking permission to intervene amid concerns over the potential regulatory fallout. Nunn has welcomed the government’s involvement, as the outcome could have industry-wide implications for motor finance.

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Lloyds braced for £1bn tax clash in Ireland losses row

BT is preparing to remove diversity, equity and inclusion (DEI) metrics from the bonus calculations of thousands of its middle managers, just weeks after its chief executive denounced businesses that roll back their inclusivity commitments.

Currently, as much as 10 per cent of annual bonuses for around 37,000 BT managers is tied to targets for gender, ethnicity and disability representation, along with engagement among under-represented employee groups. From next year, that measure will be replaced by a broader survey of overall staff engagement, leaving only the company’s 550 most senior leaders subject to specific DEI-related bonus metrics.

BT insists that it remains focused on its existing manifesto targets, which aim by this year to have 41 per cent of senior managers who are female, 15 per cent from ethnic minorities and 10 per cent with a disability. So far, the company says, 35 per cent of its senior managers are women, 9 per cent are from ethnic minority backgrounds and 14 per cent have a disability.

The proposed changes come as Allison Kirkby, BT’s first female chief executive, looks to revitalise the former state-backed telecoms giant. Although BT says it is “making good progress” on DEI, the move has prompted concern that British businesses could be weakening their drive towards inclusive workplaces.

In a memo to staff, Kirkby had voiced her resolve to protect BT’s DEI efforts, saying it was disheartening to see other companies “stepping back”. BT reiterated her stance, stating DEI will remain part of senior executives’ bonus schemes.

Meanwhile, across the Atlantic, Google told employees it will abandon a goal to increase hiring from historically under-represented groups and is reviewing other DEI policies. The search engine giant first announced such targets in 2020 amid widespread corporate pledges to address racial inequality following the murder of George Floyd. However, recent legal and political challenges in the United States have encouraged several major American companies to scale back DEI initiatives.

Meta Platforms, Walmart and McDonald’s are among those who have pared down their inclusivity programmes. Others, such as JPMorgan Chase and Goldman Sachs, say they plan to maintain diversity commitments and promote representation within their workforces and customer bases.

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BT scraps diversity targets from managers’ bonuses

Lancaster-based startup CCI Photonics has secured significant new funding to develop its groundbreaking technology for rapid infection detection and antibiotic screening.

Launched by Lancaster University researchers, the spinout aims to deliver test results in as little as 15 minutes—dramatically faster than traditional methods, which can take up to 72 hours.

The investment pot includes £200,000 from the Northern Powerhouse Investment Fund II (NPIF II) PraeSeed programme, £150,000 from the Infection Innovation Consortium (iiCON), and £100,000 from Lyva Labs via Liverpool City Region Combined Authority. CCI Photonics has also received backing from ICURe Innovate UK and holds additional support through a UKRI Novel Technologies Grant.

At the heart of this innovation is InfectiScan, a powerful in vitro diagnostic device that uses infrared spectrometry and advanced AI models to pinpoint bacterial infections in bodily fluids—and determine the most effective antibiotics to prescribe. Founded on research undertaken in partnership with the University Hospitals of Morecambe Bay NHS Foundation Trust (UHMBT), the technology is designed to tackle antibiotic resistance by reducing the guesswork in prescribing antibiotics.

Current diagnostic tools often leave clinicians prescribing treatments on a “best guess” basis, contributing to the rise of antibiotic resistance and increasing the likelihood of ineffective care or infection recurrence. With CCI Photonics’ InfectiScan device, healthcare professionals will be able to rapidly identify pathogens and confirm antibiotic suitability, significantly improving patient outcomes.

Dr Meza Ramirez, Chief Executive of CCI Photonics, emphasised: “This funding allows us to take critical steps in validating and refining our technology. With the support of our partners, we are working to bring a practical solution to healthcare challenges.”

Professor Craig Williams, Consultant Microbiologist at UHMBT, echoed this sentiment: “I hope this ongoing research will provide much more rapid diagnosis, leading to better infection treatment outcomes at a time when bacteria are becoming more resistant to commonly used antibiotics.”

Professor Janet Hemingway, founding director of iiCON, also underlined the importance of disruptive technologies in the fight against infectious diseases, noting the urgent global health challenge and the need for swift innovation.

By combining world-class research, strong funding, and practical clinical collaboration, CCI Photonics is poised to transform infectious disease diagnostics—potentially slashing test turnaround times from days to minutes and helping to stave off the looming threat of antibiotic resistance.

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Lancaster University spinout wins major backing to revolutionise healthcare diagnostics

The US Postal Service (USPS) has ceased accepting parcels from mainland China and Hong Kong “until further notice,” as fresh rules have shut a loophole allowing duty-free imports of low-value goods.

The suspension comes amid rising tensions between the US and China, sparked by former President Donald Trump’s announcement of an extra 10% tariff on all imports from the country.

A policy known as “de minimis” previously permitted parcels worth under $800 (approximately £640) to enter the US tax-free. Chinese fast-fashion giants such as Shein and Temu have used this exemption to fuel explosive growth, shipping inexpensive items to millions of US customers without incurring customs charges. Similar de minimis rules also apply in the UK, where the import threshold is £135, and within the EU for goods below €150 (£124).

However, surging parcel volumes—half of which originate from China—have prompted officials to clamp down, citing heightened risks of illegal or unregulated goods slipping through customs. USPS said letters remain unaffected by its suspension but declined to provide a detailed explanation.

The shift in US policy echoes similar moves around the globe. The EU has announced plans to strengthen checks on goods from e-commerce sites, naming Shein and Temu as liable for any unsafe or substandard products sold on their platforms. It has also launched a coordinated probe into Shein’s compliance with European consumer laws.

This crack-down on duty-free imports forms part of a wider escalation in trade tensions. Beijing, in turn, has threatened to impose retaliatory levies on select US brands, including PVH (the parent company of Calvin Klein and Tommy Hilfiger). Meanwhile, China has been advancing its own AI-driven and autonomous weapons capabilities, prompting Western authorities to voice concerns over trade imbalances and security threats.

Nick Stowe, chief executive of British brands Monsoon & Accessorize, welcomed the changes in US rules, arguing that the old system unfairly advantaged online retailers who could ship goods duty-free. “It has long been a complaint of UK and European retailers that Shein exploits the loophole, not paying customs duty, and built a business at an industrial scale,” he said.

The tumultuous state of US-China trade shows little sign of easing. Talks between Trump and Chinese president Xi Jinping have stalled, with the former US leader saying he was in “no rush” to open new negotiations. Increasing cross-border tensions are fuelling concerns about a potential broader trade war with consequences that extend far beyond just fast fashion.

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US Postal Service halts china parcels following new Trump trade measures

Google has quietly abandoned its long-held promise not to use artificial intelligence for weaponry, declaring that “free countries” should be able to harness the technology for national security purposes.

The policy shift emerged when two senior figures, James Manyika (Google-Alphabet’s senior vice-president) and Sir Demis Hassabis (chief executive of Google DeepMind), co-authored a blog post confirming the technology giant’s commitment to “support national security” in an increasingly tense geopolitical race for AI leadership.

The new stance marks a reversal of Google’s 2018 assurance that it would never use AI tools “whose principal purpose or implementation is to cause or directly facilitate injury to people”. That vow was adopted after staff walked out in protest against a Pentagon drone project. In the wake of the latest announcement, critics argue that Google risks undermining its values, noting that the company also removed its “don’t be evil” motto from its code of conduct when it restructured under parent entity Alphabet in 2015.

Manyika and Hassabis justified the change by highlighting the accelerating pace of AI innovation and pointing to the threat posed by China’s growing military interest in the technology. Beijing has earmarked AI as the future “revolution in military affairs” and is reportedly using the technology to develop advanced autonomous weapons systems. DeepSeek, a Chinese-developed AI chatbot, has already achieved results that in some tests surpass western competitors, fuelling concerns of a “Sputnik moment” in the sector.

Since the onset of generative AI, Google has faced internal strife over its links to the defence sector. In 2018, staff petitioned executives to withdraw from a US military drone initiative. There has also been friction over partnerships with foreign governments, notably in Israel. Adding to the debate, Geoffrey Hinton – dubbed the “godfather of AI” – quit Google in 2023, warning the technology could one day threaten humanity itself.

While critics lament Google’s apparent climbdown, company chiefs maintain that democracies must lead in AI development. They argue that collaboration between companies, governments and organisations that “share these values” will help ensure AI is harnessed responsibly – including for national defence.

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Google reverses pledge against AI-driven weapons to champion ‘free world’ security