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The UK government's plan to end the tariff exemption on low-value imports by March 2029 could push up prices and disrupt trade, the British Chambers of Commerce (BCC) has warned. The removal of the 'de minimis' rule, which currently allows goods under £135 to enter tariff-free, follows similar moves by the US and EU. While major retailers including Primark, Currys and Boohoo support the change, the BCC cautioned that fees on individual shipments could disproportionately affect small businesses and consumers, raising costs and prompting shifts in sourcing or shipping practices. A survey by the BCC found that over half of importers would pass on a 5–10% rise in import costs to customers, while others might consolidate shipments or scale back operations. HM Treasury defended the reforms, saying they will protect UK retailers and align the country with international standards.

 

Daily Mail

The Guardian

The Hidden Data Security Gap CISOs Can’t Ignore

Red Hat’s recent $100M lesson highlights a critical truth: data security isn’t just about encryption—it’s about protecting data in every state.

Many organisations assume their data is secure because it’s encrypted at rest or in transit. But when data is exposed during processing or analysis, that protection can disappear, leaving a costly vulnerability that many CISOs and CIOs overlook.

This article explores the overlooked security gap that could exist in your own environment. Learn why traditional encryption isn’t enough, how data becomes exposed during use, and what leaders must consider to protect sensitive information across its entire lifecycle.

Read the article

 

Swiss financial group Vontobel warns that Switzerland must avoid “over-regulation” as the government prepares to unveil sweeping reforms to its too-big-to-fail regime in the wake of Credit Suisse’s collapse.

 

Financial Times

The British government has told the Geneva-based World Trade Organization that significant reforms were required to halt the breakdown of a global rules-based trading order that is under “unsustainable” pressure.

 

Financial Times

Roche Chairman Severin Schwan has said he expects the company's agreement with the US government will keep its medicines exempt from the current round of ​import tariffs, although its diagnostics division remains exposed and ‌could face renewed duties after an initial 150-day period. "As ​far as pharmaceuticals are concerned, we assume our agreement with the ​government is binding and that we will continue to be exempt from tariffs on the import of medicines," Schwan told the Swiss newspaper Neue Zuercher ​Zeitung. "But our diagnostics business continues to be significantly affected," ​he added.

 

Reuters

Ukraine has accused Hungary of detaining seven employees of state-owned Oschadbank and illegally seizing a cash shipment during a convoy trip. In a post on X, Foreign Minister Andrii Sybiha wrote that the well-being of the seven Ukrainians, who were travelling in two armoured cars between Austria and Ukraine, was unknown. Hungary and Ukraine are embroiled in a feud over Hungary's access to Russian oil through a pipeline that crosses Ukrainian territory.

 

U.S. News

Growing rightwing support is straining ties between dominant IG Metall and its members; self-proclaimed “alternative union” Zentrum lays the blame for auto industry job losses on the leading industrial union.

 

Financial Times

The Financial Times reports that ministers will delay making contentious changes to UK copyright rules that would have made it easier for AI companies to mine media content after a backlash from the creative industries. The new legislation, initially expected in May's King's Speech, will now be delayed until next year. The government plans to publish its response to a consultation on regulating AI companies' access to copyrighted material by March 18. Artists, including Sir Elton John and Sir Paul McCartney, have voiced concerns over the potential exploitation of their work without compensation, while Baroness Keeley warned of a "clear and present danger" to the UK's creative industries.

 

Financial Times

Daily Mail

International agricultural company Syngenta has announced it will cease global production of paraquat, a highly toxic weed killer linked to Parkinson's disease, by the end of June. The decision comes amid thousands of lawsuits from individuals claiming exposure to paraquat has led to their Parkinson's diagnosis. Mike Hollands, president of Syngenta UK, said: “This decision is about focusing our resources where they deliver the greatest value for our business and our customers.” Paraquat, sold under the brand name Gramoxone, is banned in over 70 countries due to its health risks but remains legal in the US.

 

Al.com

Turkey's ruling AK Party has proposed a new tax on cryptocurrency income and a transaction levy for crypto asset service providers. The draft law, submitted to parliament, mandates a 10% withholding tax on income from crypto transactions, with profits from unregulated platforms taxed annually. Service providers would incur a 0.03% transaction tax on sales and transfers. Bora Erdamar, director of the BlockchainIST Center, cautioned that these tax plans could deter users from local platforms and hinder market growth. Turkey's crypto market is among the largest globally, with nearly $200bn in annual transactions by 2025.

 

Zawya EN

Switzerland has voted to introduce individual taxation in a reform that will replace the longstanding system of joint taxation, under which spouses must combine their income and file a single return.

 

Financial Times

Insurers have warned that proposed UK planning changes allowing more homes to be built in flood-prone areas could leave properties difficult to insure and mortgage. The government is considering reforms to help meet its target of building 1.5m homes by 2029, potentially allowing development in areas at risk of surface water flooding if defences are installed. The Association of British Insurers, alongside firms including Aviva, Ageas, Allianz, AXA and Covea, has raised concerns that such homes could become uninsurable and place pressure on councils to enforce protections. Surface water flooding already affects 4.6m homes. Studies suggest one in nine new homes built between 2022 and 2024 were located in areas considered at risk of flooding.

 

The Times