International
UK manufacturing industry shrinks at fastest rate in 11 months
Concerns remain about the outlook for global trade in 2025, with Donald Trump assuming the US presidency later this month having promised a slew of trade tariffs.
Yahoo!finance: British factory output contracted at the fastest rate in 11 months in December, amid a swathe of job losses, growing concerns about rising business taxes and a worsening global economy.
The S&P Global UK manufacturing PMI survey, watched closely by economists, recorded a reading of 47.0 in December, from 48.0 in November.
Any reading above 50 indicates activity is growing while any score below means it is contracting.
The rate of job cuts hit a 10-month high, the survey found, with firms saying weak market conditions caused many to reduce their headcounts.
Company confidence fell to a two-year low, meanwhile, amid concerns about inflationary pressures, rising business costs and potential weaker economic growth this year.
Manufacturers said they were concerned about future cost increases, partly driven by rising taxes announced by Chancellor Rachel Reeves last year.
Companies will pay more in national insurance contributions (NICs) from April, while the minimum wage is also set to rise, which will make it more expensive to employ people.
Firms also cited a weakening global economic outlook, as exports fell due to lower demand in Europe, Asia and the UK.
Concerns remain about the outlook for global trade in 2025, with Donald Trump assuming the US presidency later this month having promised a slew of trade tariffs.
Rob Dobson, director at S&P Global Market Intelligence, said: “A stalling domestic economy, weak export sales and concerns about future cost increases led to the steepest contraction of UK manufacturing production for almost a year in December.
“Manufacturers are facing an increasingly downbeat backdrop. Business sentiment is now at its lowest for two years as the new Government’s rhetoric and announced policy changes dampen confidence and raise costs at UK factories and their clients alike.
SMEs are being especially hard hit during the latest downturn.
“This is sending a winter chill through the labour market. December saw the sharpest cuts to staffing levels since February.
Some companies are acting now to restructure operations in advance of the rises in employer national insurance and minimum wage levels in 2025.”
International
Death toll in Malaysia migrant shipwreck rises to 13
Authorities in Malaysia and Thailand have recovered at least 13 bodies and are continuing to search for survivors after a boat carrying undocumented migrants capsized off the coast of Thailand’s Tarutao Island, officials said on Monday.
The vessel, which was carrying around 70 migrants — many believed to be members of Myanmar’s persecuted Rohingya minority — overturned four days ago while attempting to reach Malaysia.
Police said the passengers were part of a larger group of about 300 people who had set out in at least two boats from Myanmar roughly two weeks ago. The second boat has since been reported missing.
Tarutao Island lies just north of Malaysia’s popular Langkawi resort island, where rescue operations have been concentrated.
Romli Mustafa, Director of the Malaysian Maritime Enforcement Agency (MMEA) for the northern states of Kedah and Perlis, said that rescuers had so far recovered seven bodies, all identified as Rohingya.
“Thai authorities are also conducting search-and-rescue operations, where they have found six bodies,” Romli told reporters. “We expect to find more victims today,” he added, noting that strong currents were likely to carry additional bodies into Malaysian waters.
At least 13 people — mostly Rohingya and Bangladeshis — have been rescued alive, according to Malaysian police. Langkawi Police Chief Khairul Azhar Nuruddin said six of the dead were identified as Rohingya women and one as a young girl.
Romli said at least 12 vessels are currently involved in search efforts across a 250-square-nautical-mile area, roughly the size of Singapore.
The tragedy highlights the growing dangers faced by Rohingya refugees fleeing persecution in Myanmar, often through perilous sea routes facilitated by human trafficking syndicates.
“Cross-border syndicates are increasingly exploiting vulnerable migrants, turning them into victims of human trafficking using high-risk sea routes,” Romli said, noting that traffickers charge as much as $3,500 per person for passage.
Malaysia, one of Southeast Asia’s more prosperous nations, is home to millions of migrant workers, many of whom are undocumented and employed in construction, agriculture, and domestic service.
Deadly boat disasters are not uncommon in the region. In December 2021, more than 20 migrants drowned off Malaysia’s coast in one of the worst incidents in recent years.
Authorities say search operations will continue in both Thai and Malaysian waters as the death toll is expected to rise.
International
JUST IN: Nancy Pelosi announces retirement from historic run in Congress
Speaker Emerita Nancy Pelosi (D-California) announced her retirement Thursday morning via video message.
In the message posted on her social media accounts she speaks directly to San Francisco.
She said: “San Francisco, know your power,”. “We have made history. We have made progress. We have always led the way, and now we must continue to do so by remaining full participants in our democracy and fighting for the American ideals we hold dear.
“Dear San Francisco, we are fortunate to live in the most beautiful, remarkable place on Earth, but the true magic of San Francisco, the San Franciscans. There’s a reason why our city has always been synonymous with the future. Here, we don’t fear the future. We forge it from the gold rush to the miracles of science and technology. Our city has always been the cradle of innovation, buzzing with optimism and creativity.
“We are vibrant and diverse city, home to hard working families, diligent students and Heroic veterans and the dreams of entrepreneurs and immigrants from Chinatown to Japantown, from the mission to the film Hunters Point to the Castro North Beach to the sunset. We are also resilient, experiencing more than our fair share of challenges.
“When the Loma Prieta earthquake struck, we brought in federal support that ensured we would not just recover but reimagine the South of Market neighborhood, and of course, HIV AIDS tested our city to its core. But out of our agony came action. Under the leadership of UCSF and San Francisco General, we pioneered comprehensive community based care, prevention and research.
That very system served as a model, as we wrote the Ryan White Care Act, which still ensures access to life saving medical care nationwide. Fittingly, our city is home to the National AIDS memorial grove, a place of renewal, where we remember the loved ones we lost. For decades, I’ve cherished the privilege of representing our magnificent city in the United States Congress.”
International
BREAKING: Tinubu Responds to Trump’s Threats, Swears in Two New Ministers
In a high-stakes moment for Nigeria’s diplomacy and domestic political agenda, President Bola Tinubu has spoken publicly for the first time in response to threats issued by U.S. President Donald Trump — at the same time swearing in two new ministers to his Cabinet.
President Trump recently directed U.S. military planning toward Nigeria, warning that American assistance could be cut off if Nigeria continues to “allow the killing of Christians” — and even suggesting the possibility of U.S. intervention.
In response, Tinubu’s office, via Minister of Information & National Orientation Mohammed Idris, announced that the president remains calm and is taking the matter “with the depth it requires”.
The government emphasised that Nigeria is engaging via multiple channels — including religious leaders, international organisations and regional bodies — to clarify its position and dispel narratives of religious intolerance.
Analysts say the seriousness of the U.S. approach underscores global concern about Nigeria’s security and religious-freedom situation.
At a Federal Executive Council (FEC) meeting held earlier today, President Tinubu swore in:
- Dr. Bernard Mohammed Doro (from Plateau State) to fill the vacant Ministry of Humanitarian Affairs & Poverty Reduction.
- Mr. Kingsley Tochukwu Udeh (SAN, from Enugu State) to fill the Ministry of Science, Technology & Innovation, following the resignation of his predecessor amid allegations of certificate forgery.
Their appointments were confirmed by the Senate and came at a moment of heightened domestic and international scrutiny.
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