Michael Gove has confirmed post-Brexit tariffs will be imposed on imports from the EU, stating that nearly all imports will be subject to checks from next year. In the first official confirmation there will be trade barriers in place following Brexit, Gove warned checks will be in place on food and goods of animal origin and there will be customs declarations and mandatory safety and security certificates required for all imports (The Guardian). Gove warned that there would be checks on food and goods of animal origin, as well as customs declarations and mandatory safety and security certificates required for all imports after December 31 (The Daily Mail).
The Government has told businesses frictionless trade with the EU will end this year with the introduction of border checks, with officials stating firms have enough time to prepare before the changes come into effect from January 2021 (BBC).
Pork prices in China jumped 116% in January affected by the continued outbreak of the Coronavirus. Prices of the meat had already been squeezed by the African swine fever outbreak but soared again alongside other food prices in the country as stockpiling shifts from surgical masks to grocery (The Financial Times £).
Meanwhile, overall food prices in China are more than a fifth higher than last year as supplies dry up and households start hoarding basic items (The Telegraph). Overall inflation has hit the highest level in over eight years as the chaos from the virus outbreak pushed prices up (The Times £).
Harry’s razor proposed $1.4bn takeover from Wilkinson Sword owner Edgewell Personal Care has been pulled due to competition concerns (BBC). Edgewell, the maker of Schick razors, said on Monday that regulators’ determination to block the $1.37bn acquisition in court meant it was no longer worth pursuing, a decision that led Harry’s to threaten legal action of its own against its erstwhile suitor (The Financial Times £).
John Lewis will start selling make-up for men, including foundation, concealer and bronzer, online and at London’s flagship store in Oxford Street in an attempt to boost falling sales (The Telegraph). The War Paint brand will be rolled out online by the struggling department store chain after a trial exceeded sale expectations (Sky News). Sales in a January trial of the brand were 50% higher than expected (The Times £).
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