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Iran announces plans to bring in maritime fees for strait of Hormuz

Tehran says fees to cover cost of managing waterway will come into effect at end of 60-day negotiation periodIran has announced plans to introduce a system of maritime fees in the strait of Hormuz in two months, after the 60-day period of negotiation that has been triggered by the signing of the memorandum of understanding.Tehran, claiming a historic victory over the US, said the strait was under its control and a European plan for a naval mission to escort ships though the strait would not be welcome. Continue reading...

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At Trump's Iran Deal Signing Venue, A 1919 Treaty Left This Nation Red-Faced

The historic palace, sprawling across more than 800 hectares to the west of Paris, has long served as a backdrop for the world's most consequential negotiations.

Polls close in Makerfield byelection as Andy Burnham eyes No 10

Labour’s Greater Manchester mayor predicted to beat Reform but Keir Starmer is unlikely to easily step asideMakerfield byelection – latest updatesPolls have closed in Makerfield, Aberdeen South, and Arbroath and Broughty Ferry, with the result in the north-west of England constituency byelection poised to decide the future of UK politics.The population of Makerfield, a constituency sitting just outside Wigan, has found itself at the centre of the British political world in recent weeks after Andy Burnham quit as mayor of Greater Manchester to contest the seat that he hoped would lead him not only to Westminster, but to the front door of 10 Downing Street. Continue reading...

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Burnham brings in top economists before possible leadership run

Labour mayor giving advisory roles to ex-Bank of England economist and others seen as attempt to reassure marketsMakerfield byelection – latest updatesThree economic heavyweights have been brought in to advise Andy Burnham as he attempts to reassure the markets before his possible return to parliament on Friday and challenge to Keir Starmer.Burnham is understood to be getting advice from Andy Haldane, a former Bank of England chief economist, as well as Richard Hughes, a former chair of the Office for Budget Responsibility and Jim O’Neill, a crossbench peer and former Treasury minister who worked on George Osborne’s “Northern Powerhouse”. Continue reading...

California ‘billionaire tax’ makes ballot despite opposition from tech moguls

Wealth tax criticized by billionaires and Gavin Newsom would levy a one-time 5% tax on residents worth over $1bnA popular proposal in California to impose a wealth tax on billionaires has gained enough signatures to qualify for the ballot in November, state officials announced on Wednesday.The news is set to intensify an already heated debate around the tax, which has pitted tech moguls and the state’s governor, Gavin Newsom, against the labor union backing the measure. Continue reading...