Author: LoveWorld UK

AMAZON TARGETS AS MANY AS 30,000 CORPORATE JOB CUTS – This is the largest job cut at Amazon since late 2022 FS Amazon is planning to cut as many as 30,000 corporate jobs beginning today as the company works to pare expenses and compensate for overhiring during the peak demand of the covid period, according to three people familiar with the matter. The figure represents a small percentage of Amazon’s 1.55 million total employees, but nearly 10% of the company’s roughly 350,000 corporate employees. This would represent the largest job cut at Amazon since around 27,000 jobs were eliminated starting…

TRUMP AND XI STRIKE DEAL – TikTok transfer is finalized ahead of Korea Summit President Donald Trump and Chinese leader Xi Jinping have finalized an agreement for the highly anticipated transfer of ownership of the popular social media application TikTok, effectively ending a multi-year, high-stakes power struggle over the platform’s future. Treasury Secretary Scott Bessent delivered the major announcement yesterday, confirming that “All the details are ironed out,” and that the two world leaders are scheduled to “consummate that transaction on Thursday in Korea” when they meet at the upcoming summit.  This historic resolution provides clarity for the app, which…

EU TO CUT RELIANCE ON CHINESE RARE EARTH- Von Der Leyen says the scheme called RESourceEU would be similar to the REPowerEU plan European Commission President Ursula von der Leyen has stated that the European Union is developing a new plan to curb its reliance on Chinese critical raw materials,   while criticising Beijing for its expanded restrictions on the export of rare earths. The EU has reportedly attempted to reduce its dependence on China for the minerals that are needed for the transition to cleaner energy, the defence sector and electric vehicle production. Von der Leyen, who said the…

ARGENTINA’S MILEI WINS MIDTERM ELECTION – President Javier Milei vows more reforms Argentina’s President Javier Milei on Sunday (October 26) said his party’s big victory in the nation’s midterm elections marked a turning point and vowed to pursue reforms his government still considers necessary. Milei after the results stated that Argentina has passed through a turning point. Adding that voters had shown their desire to irreversibly change the path forward for South America’s economy. He invited the country’s governors to discuss parliamentary agreements, and said dozens of senators and deputies from other parties would potentially reach agreements with his administration.…

UK LABOUR PARTY ELECTS NEW DEPUTY LEADER –  Keir Starmer welcomed Lucy Powell’s election as ‘a proud defender of Labour values’  UK’s Labour Party has announced that Lucy Powell had won the members vote to become the party’s deputy leader, a victory for a candidate whom Prime Minister Keir Starmer sacked as a government minister last month. Powell defeated education minister Bridget Phillipson by a 54-46 margin on a low 17% turnout, and called on Starmer to stop courting voters tempted by opposing immigration policies and instead focus on bolstering lthe party’s support. Labour lost a seat in the Welsh…

EU PLEDGES LONG-TERM SUPPORT FOR UKRAINE –  Leaders vow funding for Kyiv through 2027, climate targets also agreed  European leaders have pledged to fund Ukraine’s financial needs through 2026 and 2027 — but say details will be finalised in December. Speaking after the summit, European Council Chair Antonio Costa said leaders tasked the European Commission with presenting options to ensure Kyiv has the resources it needs to keep defending itself against Russia’s aggression. Costa said Moscow should “take note” that Europe’s commitment remains firm. Also at the summit, EU leaders agreed to move forward with setting a 2040 emissions target…

PAKISTAN BANS ISLAMIST PARTY- After fatal clashes ensued Pakistan banned an Islamist party for the second time, a week after five people died in clashes between its members and police. The Pakistan TLP party had also engaged in anti-Israel protest marches in opposition to U.S. President Donald Trump’s announcement of a ceasefire deal in Gaza. Pakistan’s cabinet unanimously approved the ban, with the government saying in a statement that the TLP is involved in terrorist and violent activities. The group reportedly called the government’s ban vindictive and dictatorial, indicating the rebellious tendencies of the party.

TRUMP TERMINATES ALL TRADE TALKS WITH CANADA – Trump imposed tariffs on Canadian steel, aluminum and autos earlier this year FS U.S. President Donald Trump says all trade talks with Canada have been terminated — following what he called a fraudulent advertisement that featured the late President Ronald Reagan criticising tariffs. Trump, who imposed tariffs on Canadian steel, aluminium, and autos earlier this year, announced the move on Truth Social, accusing Ottawa of “egregious behaviour.” Canada responded, with Prime Minister Mark Carney saying his government will not allow unfair U.S. access to its markets if talks fail. Both countries are…

EUROSTAR TO RUN DOUBLE-DECKER TRAINS FROM 2031- The rail operator announced it had signed a £1.7bn deal  Eurostar from 2031 is set to start running double-decker trains through the Channel Tunnel to meet growing demand for international rail travel from the UK. The rail operator announced it had signed a £1.7bn deal for at least 30 – and up to 50 – new trains from the manufacturer Alstom. The double-deckers will start operating from 2031, with each able to carry more than 1,000 passengers. Eurostar said the Celestia trains, the first high-speed double-deckers to run on the UK mainland, would…

ZELENSKIY WELCOMES NEW RUSSIA SANCTIONS- Zelenskiy says ‘additional pressure’ is still needed on Moscow Ukrainian President Volodymyr Zelenskiy in Brussels today welcomed the new sanction packages by the U.S. and the EU and called for more pressure to force Russia to negotiate a ceasefire. Zelenskiy told reporters upon his arrival for a summit of EU leaders in Brussels that the American sanctions were a good signal to other countries in the world to join the sanctions. He also told reporters in Brussels that a ceasefire was possible between Ukraine and Russia but that more pressure would be needed on Moscow…