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Manchester United Football Club have revealed plans to construct a new £2bn ($2.58bn) stadium, which is expected to serve as a catalyst for the regeneration of the Old Trafford area, aligning with the UK government’s growth strategy. The proposed 100,000-seat stadium is part of a larger project that could add £7.3bn per year to the UK economy. Manchester United co-owner Sir Jim Ratcliffe stated that the new stadium will be built next to the existing site to “preserve the essence of Old Trafford”. The development is projected to bring social and economic benefits, potentially creating 92,000 new jobs and more…

(Bloomberg) — Supply Lines is a daily newsletter that tracks global trade. Sign up here. Most Read from Bloomberg President Donald Trump dialed back his latest trade-war threat against Canada hours after making it, while downplaying the risk of a tariff-led recession that’s sent US markets into a nosedive. Trump’s roller-coaster day saw him threaten to double duties on Canadian steel and aluminum to 50% after Ontario announced plans to place a surcharge on electricity sent to the US, only to retreat back to plans for his previously announced 25% rate after the provincial government backed down. The episode rattled…

Professional services network Forvis Mazars has appointed Lisa Pennington as an accounting and outsourcing partner in its UK Healthcare and Life Sciences team. With two decades of experience in the healthcare finance sector, Pennington will be based in the company’s Manchester office. She joined Forvis Mazars in 2023 and has supported and developed year-end compliance and advisory services for medical clients. These range from federations and primary care networks to general practitioners (GP) and GP practices. Her work has also involved delivering coordinated accounting, taxation, and advisory services to healthcare professionals and advising clients on business strategies, such as setup…

Kohl’s quarterly sales fell 9.4%. – David Paul Morris/Bloomberg News Kohl’s cut its dividend and projected a larger-than-expected sales decline for fiscal 2025, weighing on shares. Shares fell 24% Tuesday. Ahead of Monday’s market close, the stock was down 14% year to date. The department-store chain, which is under a new chief executive, joins a growing list of companies that are warning of a slowdown in spending from American households this year as recession fears mount. Kohl’s expects 2025 sales to fall 5% to 7% on a reported basis and 4% to 6% on a comparable basis, the latter of…

Jobs could be at risk in the beleaguered British steel industry after Donald Trump slapped a 25% tax on US imports. Business Secretary Jonathan Reynolds said the global tariffs on steel and aluminium imports were “disappointing” but the UK was not retaliating – unlike the European Union which immediately responded with countermeasures on US goods. Ministers insisted they were taking a pragmatic approach and avoiding knee-jerk reactions after last-ditch efforts to persuade the US president to grant an exemption for the UK failed. The Government said around 5% of UK steel exports and 6% of aluminium exports by volume go…

(Bloomberg) — Bank of Japan Governor Kazuo Ueda indicated he’s not too concerned about the recent ascent of the nation’s benchmark yield to the highest since 2008, adding that only a sudden, exceptional spike might warrant action. Most Read from Bloomberg “My understanding is that the rising trend since last year reflects the market’s views on the economy and inflation, or shifts in interest rates overseas,” Ueda said Wednesday morning in response to questions in parliament. “There is no major gap between our views and the market’s.” When the topic came up again in the afternoon, the governor calibrated his…

Baker Hughes, an energy technology provider, has entered into a framework agreement with NextDecade, a liquefied natural gas (LNG) company, to supply gas turbine and refrigerant compressor technology for trains four through eight of the Rio Grande LNG facility in Texas, US. As part of the agreement, Baker Hughes will also deliver maintenance services for these equipment packages. The Rio Grande LNG facility is being developed on a 984-acre site in Brownsville, Texas. It will produce low-carbon intensive LNG and is considered to be the largest privately funded infrastructure project in Texas. NextDecade is advancing the commercialisation of Rio Grande…

(Bloomberg) — Supply Lines is a daily newsletter that tracks global trade. Sign up here. Most Read from Bloomberg President Donald Trump downplayed a sharp market selloff spurred by worries that his tariff agenda will drag the world’s largest economy into a downturn, saying he did not foresee the US going into a recession. “I don’t see it at all. I think this country’s going to boom,” Trump said Tuesday at the White House. Trump added that markets “are going to go up and they’re going to go down. But you know what, we have to rebuild our country.” Trump’s…

Fast-food giant McDonald’s has named Jill McDonald as its first chief restaurant experience officer as part of a reshuffle in its executive team. Currently leading McDonald’s international division, comprising Europe, Canada and Australia, Jill McDonald will oversee operations, supply chain, franchising, development, design, delivery and the company’s innovation lab. Her team will include executives managing McDonald’s global beef, chicken and beverage businesses. The burger giant is revamping its operations and development teams to expedite the introduction of new menu items and technology. McDonald’s CEO Chris Kempczinski was quoted by the Wall Street Journal: “Recent efforts to develop new sandwiches, including…

Direct Line’s (DLG.L) boss landed a bumper payday in 2024 despite spiralling prices for customers and hundreds of job cuts, as he oversaw a sale of the company to insurance giant Aviva (AV.L). Adam Winslow was given a £7.8 million pay package for last year as the company prepared for the takeover. The executive joined struggling Direct Line in March 2024, having previously worked as Aviva’s UK and Ireland boss. By the end of the year, the blockbuster £3.7 billion takeover by his old firm had been agreed, which will also see Aviva take over the Churchill and Green Flag…