Boris Johnson signals controls on steel imports to stay

The prime minister has signalled controls on steel imports that were due to expire this week could be retained.

When asked whether this could lead to a possible breach of international law, Boris Johnson responded “these are tough choices we have to make”.

It follows a proposed approach set out by the international trade secretary on Thursday.

But the Department for International Trade said a final decision has not yet been made.

Speaking at the G7 summit in Germany, Mr Johnson said keeping the import controls on foreign steel would protect British producers which are already under pressure from rising energy prices.

“We need British steel to be provided with much cheaper energy,” Mr Johnson said.

“But until we can fix that, I think it is reasonable for UK steel to have the same protections that absolutely every other European steel economy does.”

Earlier this month, Mr Johnson linked the … Read more

4 Advantages of Accepting Direct Debit in Your Business

Direct Debit is often avoided by small and medium-sized businesses because they think it’s too expensive and/or difficult to set up. While this may have been true in the past, things have changed.

Nowadays, it’s rather easy to set up a Direct Debit payment solution regardless of your business size or annual income. Plus, the option is safe and comes with lots of benefits for your business and your customers.

So if you’re still on the fence about Direct Debit, here are some of the benefits you’ll notice as soon as you make the switch:

1. You Can Let Customers Split Large Payments Into Installments

Large invoices can put a serious financial strain on your customers’ budgets, which is why some may avoid doing business with you. On the other hand, some customers may wait to gather more money to be able to buy your product/service.

Neither of these situations … Read more

Shortened Week in Store in Canada

Monday

U.S.

Economic Lookahead

Durable goods orders (May)

Pending home sales index (May)

Featured Earnings

Nike Inc. (NYSE:NKE) (Q4) EPS projects of 81 cents, compared to 93 cents in the year-ago quarter.

Trip.com Group Limited (NASDAQ: TCOM) (Q1) EPS projects for loss of 19 cents, compared to a loss of 16 cents in the year-ago quarter.

Concentrix Corporation (NASDAQ: CNXC) (Q2) EPS projects of 16 cents, compared to 18 cents in the year-ago quarter.

Canada

Featured Earnings

Burcon Nutrascience Corporation (T.BU) (Q4) EPS projects loss of three cents, compared to a loss of one cent in the year-ago quarter.

Tuesday

U.S.

Economic Lookahead

Advance Trade in Goods (May)

S&P Case-Shiller U.S. home price index (April)

Consumer confidence index (June)

Featured Earnings

SYNNEX (NYSE:SNX) (Q4) EPS projects of $2.52, compared to two dollars in the year-ago quarter.

Progress Software Corporation (NASDAQ: PRGS) (Q2) EPS projects of 80 cents, compared to 67 … Read more

Netflix cuts 300 more jobs after subscriptions fall

Netflix has announced another round of job cuts as it grapples with slowing growth and increased competition.

The streaming giant said it was cutting 300 more jobs – roughly 4% of its workforce – mostly in the US, after axing 150 people in May.

The moves come after the company reported its first subscriber loss in more than a decade in April.

The firm is exploring an ad-supported service and cracking down on password sharing as it tries to boost growth.

“While we continue to invest significantly in the business, we made these adjustments so that our costs are growing in line with our slower revenue growth,” Netflix said in a statement on Thursday, adding that it was continuing to hire in other areas.

While Netflix has 220 million subscribers globally and remains the clear leader in the streaming market, it has faced fierce competition in recent years with the … Read more