US business leaders set to break record on donations to Trump inaugural fund

US business leaders are spending big on Donald Trump’s second inaugural fund, which is predicted to exceed even the record-setting $107m raised in 2017.The donations, which are not restricted by campaign finance laws, come as industries and business leaders seek to curry favor with the incoming administration after the president-elect decisively won a second, non-consecutive term in November.Some of the planned donations reportedly include $1m each from Jeff Bezos’s Amazon, OpenAI CEO Sam Altman and Facebook parent company Meta, led by Mark Zuckerberg.Hedge-fund manager Ken Griffin has said he plans to donate $1m, Bloomberg reported; Uber and its CEO Dara Khosrowshahi are reported to be chipping in $1m each; and Toyota, Ford and General Motors are each peeling off $1m. Ford is also reportedly coupling its donation with a fleet of vehicles

Sir James Walker obituary

Jim Walker, who has died at the age of 80, was one of the UK’s master exporters, turning a simple product into an international brand. The ubiquity of Walker’s Shortbread in the world’s airports and delis has made it a leading brand of the food and drink industry and an exemplar as to how a family business can expand and still retain its independence.Jim himself was an understated and charming man who led the firm’s growth from its place of origin – the village of Aberlour, Moray, with a population of barely 1,000, tucked away on Speyside in the north-east of Scotland. Between its sites in Aberlour and Elgin, 12 miles away, it grew under his leadership to employ 1,500 people, with a turnover in 2023 of £184m.In 1898, Jim’s grandfather, Joseph, an Aberdeenshire farmer, moved to Aberlour, took over the village bakery and developed the original shortbread recipe from which the company has never deviated

Upturn or uncertainty: decoding Australia’s 2024 economy and what it means for you next year

As the clock runs out on 2024, news about the economy has not been so upbeat lately.Should we brace for tougher times ahead, or perhaps the outlook is on the improve?In the run-up to the election, the Albanese government will probably amp up the creation of 1m jobs since it took office (unless there’s an unexpected slide in the next few months). And why not – it’s the most obvious economic positive just now.Critics tend to be more begrudging, highlighting the fact that the largest job gains in any government term have mostly been in the “non-market sector” – prompted by, if not directly paid for, the public purse.In its mid-year economic outlook (Myefo) released this week, the government upgraded its forecasts to reflect the resilience of labour demand

Last-minute Christmas shoppers provide boost for UK retailers

Retailers received a boost from a last-minute spree by shoppers on Christmas Eve, with an increase in footfall after a lacklustre festive season.Footfall was up by 31.1% across all UK retail destinations up until noon on Tuesday compared with Christmas Eve last year, although the date fell on a Sunday in 2023 and so suffered from shorter shopping hours.Shopping centres were particularly busy, with visitor levels up 42.2% to noon compared with last 24 December, while high streets saw a 29

American Airlines flight grounding cancelled; UK’s FTSE 100 rises 0.4% as ‘Santa rally’ begins – as it happened

We have further signs today that this is not a brilliant Christmas for the retail sector.Yesterday, year-on-year footfall at UK shopping destinations was 1.2% lower than on 23rd December 2023 (a Saturday), according to retail technology firm MRI Software.Visits to UK high streets were 5.3% lower than a year ago, reflecting the general decline in physical shopping since the Covid-19 pandemic, although this was somewhat balanced out by a 4

UK housebuilder Vistry’s shares plunge as it issues third profit warning

The UK housebuilder Vistry has issued its third profit warning in three months, in a year-end blow to the construction company that sent its shares to a two-year low.The business, which was relegated from the FTSE 100 share index on Monday, now expects annual adjusted pre-tax profit of just £250m, down from previous guidance of about £300m.The group – previously known as Bovis Homes – said this was partly because of delays, with a number of developments having not yet been completed, and transactions with partners having been delayed until 2025.Vistry also said it had also dropped a number of proposed deals “where the commercial terms on offer were not sufficiently attractive”. The company added that it expected better terms and options to open up next year