{"id":870421,"date":"2026-08-27T16:10:14","date_gmt":"2026-08-27T16:10:14","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/870421\/"},"modified":"2026-08-27T16:10:14","modified_gmt":"2026-08-27T16:10:14","slug":"trump-administration-reportedly-considering-new-round-of-sweeping-tariffs-on-semiconductors-as-it-happened-business","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/870421\/","title":{"rendered":"Trump administration reportedly considering \u2018new round of sweeping tariffs on semiconductors\u2019 \u2013 as it happened | Business"},"content":{"rendered":"<p>Trump administration reportedly considering new round of &#8216;sweeping&#8217; tariffs on chips<\/p>\n<p class=\"dcr-1s160rg\">The Trump administration is reportedly considering a new round of sweeping tariffs on semiconductors \u2013 despite warnings from technology companies that the move could harm US hopes of dominating artificial intelligence.<\/p>\n<p class=\"dcr-1s160rg\">One tariff approach under consideration would dramatically expand the number of tech products subject to the duties, hitting not just chips but potentially many of the goods made with them, such as laptops, gaming consoles or the servers that fill data centres, <a href=\"https:\/\/www.politico.com\/news\/2026\/08\/27\/data-centers-chips-tariffs-threat-01050957\" data-link-name=\"in body link\" rel=\"nofollow noopener\" target=\"_blank\">Politico reported on Thursday, citing eight people familiar with discussions<\/a>.<\/p>\n<p class=\"dcr-1s160rg\">US commerce secretary Howard Lutnick favours a structure that would tie foreign companies\u2019 relief from the tariffs to investment in US chip manufacturing to fuel more domestic production, according to four of the people, Politico said.<\/p>\n<p class=\"dcr-1s160rg\">The administration is mulling a phase-in period for the new tariffs, the four people said. They added that the framework could still be substantially revised in the coming weeks or months.<\/p>\n<p><a href=\"mailto:?subject=Trump administration reportedly considering \u2018new round of sweeping tariffs on semiconductors\u2019 \u2013 as it happened&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/aug\/27\/asian-technology-shares-ride-high-ai-optimism-nvidias-stunning-results-jackson-hole-live-updates?CMP=share_btn_url&amp;page=with%3Ablock-6a9011d88f080343b990a26b#block-6a9011d88f080343b990a26b\" type=\"button\" class=\"dcr-10ju04u\">Share<\/a><\/p>\n<p>Updated at\u00a006.36 EDT<\/p>\n<p>Key events<\/p>\n<p>Closing summary<\/p>\n<p class=\"dcr-1s160rg\">Time to wrap up for the day.<\/p>\n<p class=\"dcr-1s160rg\">Brent crude has risen by around 1% and eurozone bond yields have increased slightly, amid nervousness over the prospects of a deal to reopen the strait of Hormuz soon.<\/p>\n<p class=\"dcr-1s160rg\">Wall Street indices have eked out modest gains while UK and European shares are down, with the FTSE 100 index in London falling 86 points or 0.8% to 10,792.<\/p>\n<p class=\"dcr-1s160rg\">The Trump administration is reportedly considering a new round of sweeping tariffs on semiconductors \u2013 despite warnings from technology companies that the move could harm US hopes of dominating artificial intelligence.<\/p>\n<p class=\"dcr-1s160rg\">One tariff approach under consideration would dramatically expand the number of tech products subject to the duties, hitting not just chips but potentially many of the goods made with them, such as laptops, gaming consoles or the servers that fill data centres, <a href=\"https:\/\/www.politico.com\/news\/2026\/08\/27\/data-centers-chips-tariffs-threat-01050957\" data-link-name=\"in body link\" rel=\"nofollow noopener\" target=\"_blank\">Politico reported on Thursday, citing eight people familiar with discussions<\/a>.<\/p>\n<p class=\"dcr-1s160rg\">US commerce secretary Howard Lutnick favours a structure that would tie foreign companies\u2019 relief from the tariffs to investment in US chip manufacturing to fuel more domestic production, according to four of the people, Politico said.<\/p>\n<p class=\"dcr-1s160rg\">The administration is mulling a phase-in period for the new tariffs, the four people said. They added that the framework could still be substantially revised in the coming weeks or months.<\/p>\n<p class=\"dcr-1s160rg\">(We haven\u2019t heard any more about this\u2026)<\/p>\n<p class=\"dcr-1s160rg\">Nvidia shares jumped 7.6% on Wall Street, after the US chipmaker\u2019s boss Jensen Huang hailed a \u201cgolden age\u201d for AI in the US and globally, as it more than doubled second-quarter revenues to nearly $100bn. Investors breathed a sigh of relief as worries over ballooning debt-fuelled spending on AI infrastructure triggered a selloff in AI companies\u2019 shares in recent months.<\/p>\n<p class=\"dcr-1s160rg\">Our other main stories:<\/p>\n<p class=\"dcr-1s160rg\">Thank you for reading. We\u2019ll be back tomorrow, with news from Jackson Hole and elsewhere \u2013 good-bye! \u2013 JK<\/p>\n<p><a href=\"mailto:?subject=Trump administration reportedly considering \u2018new round of sweeping tariffs on semiconductors\u2019 \u2013 as it happened&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/aug\/27\/asian-technology-shares-ride-high-ai-optimism-nvidias-stunning-results-jackson-hole-live-updates?CMP=share_btn_url&amp;page=with%3Ablock-6a904b1d8f089f2cda79873b#block-6a904b1d8f089f2cda79873b\" type=\"button\" class=\"dcr-10ju04u\">Share<\/a><\/p>\n<p>Updated at\u00a010.57 EDT<\/p>\n<p>Oil prices and bond yields rise amid Middle East worries<\/p>\n<p class=\"dcr-1s160rg\">Oil prices have reversed earlier declines and have gone up, as doubts crept into markets over whether the strait of Hormuz can reopen anytime soon.<\/p>\n<p class=\"dcr-1s160rg\">Brent crude has gained $1.15, or 1.3%, to $89 a barrel, after hitting a two-week low of $85.40 on Wednesday.<\/p>\n<p class=\"dcr-1s160rg\">Qatar\u2019s prime minister will \u2060visit Tehran on Thursday to try to relaunch diplomacy between the US and Iran, with both sides \u200bat odds over control of the strait, through which a fifth of the world\u2019s oil and supplies flows in normal times.<\/p>\n<p class=\"dcr-1s160rg\">Iran\u2019s Revolutionary Guards said on Wednesday that Iran and Oman had agreed how \u200cto share the waterway and its revenues, but a senior Iranian source later said the two countries were still working on the details of an agreement.<\/p>\n<p class=\"dcr-1s160rg\">Government bond yields rose slightly as a result, as higher oil prices could push inflation higher in coming months.<\/p>\n<p class=\"dcr-1s160rg\">Germany\u2019s 10-year bond yield rose 3 basis points to 3.253%, close to a 15-year high. France\u2019s 10-year yield also advanced 3bps to 4.107% but remained below last week\u2019s 18-year high of 4.143%. UK and US yields also rose slightly.<\/p>\n<p><a href=\"mailto:?subject=Trump administration reportedly considering \u2018new round of sweeping tariffs on semiconductors\u2019 \u2013 as it happened&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/aug\/27\/asian-technology-shares-ride-high-ai-optimism-nvidias-stunning-results-jackson-hole-live-updates?CMP=share_btn_url&amp;page=with%3Ablock-6a9047978f08650183b5961c#block-6a9047978f08650183b5961c\" type=\"button\" class=\"dcr-10ju04u\">Share<\/a><\/p>\n<p class=\"dcr-1s160rg\">In the US, the Jackson Hole economic policy symposium is kicking off today, and a highlight is the keynote address by US Federal Reserve chair Kevin Warsh on Friday.<\/p>\n<p class=\"dcr-1s160rg\">Hetal Mehta, chief economist at St. James\u2019s Place, said:<\/p>\n<p>double quotation markKevin Warsh is likely to use his first Jackson Hole address as Federal Reserve Chair to focus less on the next interest rate decision and more on the Fed\u2019s longer-term policy framework, including the work of the task forces he has established.<\/p>\n<p>Markets will nevertheless be looking for reassurance on the Fed\u2019s commitment to its 2% inflation target and, importantly, how policymakers would respond if price pressures began to build again. Recent inflation data have been encouraging and support the case for rates to remain on hold. However, Warsh may keep the door open to further tightening if progress on disinflation stalls, reinforcing the Fed\u2019s data-dependent approach.<\/p>\n<p>Warsh has previously advocated reducing the Fed\u2019s reliance on detailed forward guidance, reflecting concerns that excessive signalling has contributed to policy mistakes in the past. The irony is that he now faces pressure to communicate more clearly to address questions around the Fed\u2019s credibility. Explicit guidance on the near-term path for rates would therefore be at odds with his preferred approach, but markets will scrutinise his language closely for any indication of how the Fed\u2019s reaction function is evolving.<\/p>\n<p>Any discussion of balance sheet policy will also attract attention, particularly following the US Treasury\u2019s decision to increase its bond buyback programme and the questions this raises about its interaction with monetary policy. For investors, the central issues will be whether Warsh can reinforce confidence in the Fed\u2019s inflation-fighting credentials while setting out a clear and credible approach to policy communication.<\/p>\n<p><a href=\"mailto:?subject=Trump administration reportedly considering \u2018new round of sweeping tariffs on semiconductors\u2019 \u2013 as it happened&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/aug\/27\/asian-technology-shares-ride-high-ai-optimism-nvidias-stunning-results-jackson-hole-live-updates?CMP=share_btn_url&amp;page=with%3Ablock-6a90487e8f081bc5052643a7#block-6a90487e8f081bc5052643a7\" type=\"button\" class=\"dcr-10ju04u\">Share<\/a>UKHospitality launches new guest safety principles after Travelodge scandal<\/p>\n<p class=\"dcr-1s160rg\">The UK\u2019s hospitality industry body has launched new guest safety principles for accommodation providers, a week after the boss of Travelodge resigned following a backlash over security failings at the hotel chain.<\/p>\n<p class=\"dcr-1s160rg\">Joanna Boydell, the budget hotel chain\u2019s then-chief executive, was heavily criticised for her handling of incidents which included a case where a <a href=\"https:\/\/www.theguardian.com\/society\/2026\/aug\/10\/woman-assaulted-after-travelodge-staff-gave-room-key-to-her-abuser\" data-link-name=\"in body link\" rel=\"nofollow noopener\" target=\"_blank\">domestic abuser was given a key to a woman\u2019s room<\/a> before assaulting her.<\/p>\n<p class=\"dcr-1s160rg\">UKHospitality said the new <a href=\"https:\/\/www.ukhospitality.org.uk\/wp-content\/uploads\/2026\/08\/FINAL-UKHospitality-Guest-Security-Principles-and-Good-Practice.pdf\" data-link-name=\"in body link\" rel=\"nofollow noopener\" target=\"_blank\">guidance<\/a> has been driven forward by its members and developed in partnership with accommodation businesses to further protect guest safety, security and privacy.<\/p>\n<p class=\"dcr-1s160rg\">Guest safety comes first<\/p>\n<p class=\"dcr-1s160rg\">Privacy is an essential part of security<\/p>\n<p class=\"dcr-1s160rg\">Verification should be proportionate but effective<\/p>\n<p class=\"dcr-1s160rg\">Well-trained employees are the strongest safeguard<\/p>\n<p class=\"dcr-1s160rg\">Security arrangements should continually improve.<\/p>\n<p class=\"dcr-1s160rg\">Each principle is expanded upon in greater detail, including recommendations and practical scenarios to guide businesses. All accommodation providers are urged to use the new guidance to review their security arrangements and continue to strengthen standards across the sector.<\/p>\n<p class=\"dcr-1s160rg\">Allen Simpson, chief executive of UKHospitality, said:<\/p>\n<p>double quotation markMillions of people stay in accommodation every year, right across the UK. Whether it\u2019s visiting friends and family, taking a holiday or travelling for work, they all expect a safe, secure and welcoming environment, where their privacy and safety are the number one priorities.<\/p>\n<p>I know that every accommodation provider in the UK takes this important responsibility incredibly seriously.<\/p>\n<p>The expertise and experience underpinning that responsibility from across accommodation businesses has driven this detailed guidance forward, and I\u2019m extremely grateful for the dedication, effort and knowledge they have put into developing this document.<\/p>\n<p>This guidance has been developed to ensure that any type of accommodation business, whether it\u2019s a city centre hotel or a rural holiday park, can use these principles to review their current security arrangements and continue to strengthen standards in ways that work for their specific business. I would urge every single accommodation provider to do so.<\/p>\n<p class=\"dcr-1s160rg\">The guidance has been developed by a UKHospitality working group, with representatives from Accor, Center Parcs, Clermont Hotels, Fuller\u2019s, Haven, Hilton, IHG Hotels &amp; Resorts, Starboard Hotels, Travelodge, Warner Hotels and Premier Inn owner Whitbread.<\/p>\n<p><a href=\"mailto:?subject=Trump administration reportedly considering \u2018new round of sweeping tariffs on semiconductors\u2019 \u2013 as it happened&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/aug\/27\/asian-technology-shares-ride-high-ai-optimism-nvidias-stunning-results-jackson-hole-live-updates?CMP=share_btn_url&amp;page=with%3Ablock-6a9045858f081bc505264375#block-6a9045858f081bc505264375\" type=\"button\" class=\"dcr-10ju04u\">Share<\/a>Bots and bargains: Zara owner launches cut-price Lefties in UK to rival Primark<\/p>\n<p class=\"dcr-1s160rg\">The owner of Zara is taking on <a href=\"https:\/\/www.theguardian.com\/business\/primark\" data-link-name=\"in body link\" rel=\"nofollow noopener\" target=\"_blank\">Primark<\/a>, Shein and the supermarkets with the launch of its cut-price chain Lefties in Britain, backed by an army of robots.<\/p>\n<p class=\"dcr-1s160rg\">The Spanish fashion brand opened its first UK store in <a href=\"https:\/\/www.theguardian.com\/uk\/liverpool\" data-link-name=\"in body link\" rel=\"nofollow noopener\" target=\"_blank\">Liverpool<\/a> on Thursday, a few weeks after quietly launching its UK website.<\/p>\n<p class=\"dcr-1s160rg\">The store has embraced robotics to reduce staffing costs, with self-checkouts that scan a whole basket in one go and a clothes-hanger sorter. Shoppers put their hangers in a slot as they pay and they are taken on a hidden conveyor belt to two robots behind a screen who sort them into boxes for different sizes.<\/p>\n<p class=\"dcr-1s160rg\">The outlet at the Liverpool One city centre development also has fitting rooms equipped with a hatch through which unwanted items go to be sorted behind the scenes, again by robots.<\/p>\n<p><a href=\"mailto:?subject=Trump administration reportedly considering \u2018new round of sweeping tariffs on semiconductors\u2019 \u2013 as it happened&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/aug\/27\/asian-technology-shares-ride-high-ai-optimism-nvidias-stunning-results-jackson-hole-live-updates?CMP=share_btn_url&amp;page=with%3Ablock-6a90441e8f08650183b595da#block-6a90441e8f08650183b595da\" type=\"button\" class=\"dcr-10ju04u\">Share<\/a>Pernod Ricard shares tumble after sharp sales declines in China and US and gloomy outlook<\/p>\n<p class=\"dcr-1s160rg\">Pernod Ricard has posted sharp \u2060sales declines in China \u2060and the \u200bUS and issued a more gloomy forecast through 2029, in a sign of the downturn facing global spirits makers.<\/p>\n<p class=\"dcr-1s160rg\">Shares in the French wine and spirits group fell more than 6% as chief executive Alexandre Ricard told investors that the US, its largest market, offers little potential \u2060over the next three years, dragging down overall performance.<\/p>\n<p class=\"dcr-1s160rg\">The maker of Martell cognac and Absolut vodka, whose merger talks with Jack Daniel\u2019s maker \u200cBrown-Forman, based in Kentucky, ended in April without a deal, now expects \u200csales growth at the lower end of its 3% to 6% target range through 2029.<\/p>\n<p class=\"dcr-1s160rg\">Ricard told Reuters:<\/p>\n<p>double quotation markThe assumptions that \u200cdrive that kind of outlook are based on a US market which is not in growth over that period and which is quite soft.<\/p>\n<p class=\"dcr-1s160rg\">However, he said Pernod\u2019s broad geographic footprint should help underpin sales in the coming years.<\/p>\n<p class=\"dcr-1s160rg\">Sales in the US and China fell 14% \u200band 19%, respectively, in the year to 30 June, and prospects for the current year are also muted.<\/p>\n<p class=\"dcr-1s160rg\">Pernod, the world\u2019s second-largest spirits maker after the UK\u2019s Diageo, \u200cforecast broadly stable organic net sales, with trading conditions in the US and China expected to remain tough in its first quarter.<\/p>\n<p class=\"dcr-1s160rg\">Bernstein analyst Trevor Stirling said Ricard\u2019s comments on the US had been expected after Diageo said earlier this month that the market would remain negative for the next three years.<\/p>\n<p class=\"dcr-1s160rg\">There was no \u201cmassive surprise\u201d in the results to justify the share reaction, he added, given Pernod\u2019s \u2060performance and guidance were in line with expectations and peers.<\/p>\n<p class=\"dcr-1s160rg\">Ricard said Pernod expects to complete its \u20ac1bn restructuring programme \u200ca year ahead of \u200bschedule and has cut \u200baround 3,600 jobs since its 2024 financial year.<\/p>\n<p class=\"dcr-1s160rg\">The board is also considering a potential stock market flotation of the group\u2019s Indian business and has already taken preparatory steps. India has overtaken China as Pernod\u2019s second-largest market.<\/p>\n<p><a href=\"mailto:?subject=Trump administration reportedly considering \u2018new round of sweeping tariffs on semiconductors\u2019 \u2013 as it happened&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/aug\/27\/asian-technology-shares-ride-high-ai-optimism-nvidias-stunning-results-jackson-hole-live-updates?CMP=share_btn_url&amp;page=with%3Ablock-6a9041748f08650183b595af#block-6a9041748f08650183b595af\" type=\"button\" class=\"dcr-10ju04u\">Share<\/a>Three UK airports hit by cyber-attack with data of 8.7m customers accessed<\/p>\n<p class=\"dcr-1s160rg\">Manchester, London Stansted and East Midlands airports have been hit by a cyber-attack, with hackers accessing the data of about 8.7 million customers.<\/p>\n<p class=\"dcr-1s160rg\">Hackers obtained their email addresses, phone numbers, vehicle registration numbers and postcodes, as the incident affected data related to \u201ccar park, lounge and fast-track bookings and in-airport wifi sign-ups\u201d, said Manchester Airports Group (MAG), which operates the three air hubs.<\/p>\n<p>Terminal at Stansted Airport in Essex. Photograph: Paul Quayle\/Alamy<\/p>\n<p class=\"dcr-1s160rg\">The company added that \u201cat no point has passenger safety or aviation security been compromised\u201d during the incident and operations at the airports were unaffected. The hacked system did not hold customer bank and payment details.<\/p>\n<p class=\"dcr-1s160rg\">In an email to customers, London Stansted said:<\/p>\n<p>double quotation markWe would urge you to be particularly cautious of unexpected emails, calls or text messages claiming to be from us. We will never contact you unexpectedly to ask for payment or banking information. We apologise for any inconvenience or concern this may cause.<\/p>\n<p class=\"dcr-1s160rg\">Lauren Wills-Dixon, partner and head of privacy at law firm Gordons, said the news will be concerning for customers.<\/p>\n<p>double quotation markSo far we know that around 8.7 million customers have had their data stolen, including email addresses, phone numbers and postcodes, but not bank details. The scale of this attack is notable &#8211; the important thing now is how Manchester Airports Group (MAG), which operates all three airports, responds in line with its cyber security plan.<\/p>\n<p>This is another reminder of the importance for organisations to take legal, regulatory and best practice measures to build and maintain cyber resilience. Airports sell a number of services including lounge access, parking and fast-track bookings. Wi-fi access also requires customers to input their data. As a result, operators will hold large amounts of customer data and this, together with the increased use of technology, only increases the threat of a cyber attack.<\/p>\n<p>MAG has done the right thing in communicating early with affected customers, and has already said it\u2019s working with specialist advisors who will be taking appropriate action to contain the risk and inform the Information Commissioner\u2019s Office in line with guidance.<\/p>\n<p><a href=\"mailto:?subject=Trump administration reportedly considering \u2018new round of sweeping tariffs on semiconductors\u2019 \u2013 as it happened&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/aug\/27\/asian-technology-shares-ride-high-ai-optimism-nvidias-stunning-results-jackson-hole-live-updates?CMP=share_btn_url&amp;page=with%3Ablock-6a9034668f080343b990a43a#block-6a9034668f080343b990a43a\" type=\"button\" class=\"dcr-10ju04u\">Share<\/a><\/p>\n<p class=\"dcr-1s160rg\">Arjan Bredenoord, the lead clinician in the AstraZeneca phase III trial of Tezspire for eosinophilic esophagitis, a chronic inflammatory disorder of the oesophagus, said because of the disease,<\/p>\n<p>double quotation markPatients start to eat smaller bites, start to avoid food, start to chew very slowly and start to avoid any social situation where eating is involved. So, it has a big impact on their lives, and it would be very valuable if you could treat that with an appropriate therapy.<\/p>\n<p>For many of these young patients, it\u2019s a very big challenge to take a medicine twice a day, and often results in failure of the therapy. Tezepelumab can be administered only once every four weeks, so there is very little burden for patients.\u201d<\/p>\n<p>This medicine targets TSLP, an alarmin that is released by the epithelium in response to stress. TSLP plays a role in type 2 inflammatory conditions, including chronic rhinosinusitis with nasal polyps, allergic asthma and eosinophilic esophagitis.<\/p>\n<p>Nowadays we see more and more patients being diagnosed with EOE. It seems that the incidence is doubling every five years now, so it\u2019s a big new indication.<\/p>\n<p><a href=\"mailto:?subject=Trump administration reportedly considering \u2018new round of sweeping tariffs on semiconductors\u2019 \u2013 as it happened&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/aug\/27\/asian-technology-shares-ride-high-ai-optimism-nvidias-stunning-results-jackson-hole-live-updates?CMP=share_btn_url&amp;page=with%3Ablock-6a9033488f080343b990a414#block-6a9033488f080343b990a414\" type=\"button\" class=\"dcr-10ju04u\">Share<\/a>AstraZeneca gets boost from late-stage trial success of Tezspire after recent setbacks<\/p>\n<p class=\"dcr-1s160rg\">Britain\u2019s biggest pharmaceutical company AstraZeneca said its asthma \u2060drug Tezspire had positive results in a late-stage trial in patients with a chronic inflammatory disorder of the oesophagus \u2013- a boost to its drug portfolio after a string \u2060of recent setbacks.<\/p>\n<p class=\"dcr-1s160rg\">The study showed that Tezspire, developed with California\u2019s Amgen, met its main goals. It significantly reduced inflammation in the oesophagus and eased difficulty in swallowing, compared \u2060with a placebo in patients suffering with eosinophilic esophagitis.<\/p>\n<p class=\"dcr-1s160rg\">EoE is a chronic and progressive inflammatory disorder of the esophagus affecting more than 470,000 people in the US, with the prevalence increasing five-fold since 2009. Nearly half of patients, including adolescents, do not achieve adequate disease control with current first-line treatments, which include dietary restriction, corticosteroids and proton pump inhibitors. For patients, the risk of food moving slowly or becoming stuck can make daily meals difficult and stressful.<\/p>\n<p class=\"dcr-1s160rg\">Tezspire, a monoclonal antibody, generated $1.1bn in sales for AstraZeneca last year.<\/p>\n<p class=\"dcr-1s160rg\">Chief executive Pascal Soriot \u200cis steering AstraZeneca towards \u200cits goal of $80bn in annual sales by 2030, betting on up to 20 \u200cnew drug launches as the company faces patent expiries and suffered several drug setbacks recently.<\/p>\n<p class=\"dcr-1s160rg\">In July, its injected drug Wainua (approved to treat nerve damage from a rare genetic disease called hATTR amyloidosis) unexpectedly failed a heart disease trial, while a <a href=\"https:\/\/www.astrazeneca.com\/media-centre\/press-releases\/2026\/update-on-ultomiris-phase-iii-trial-in-hsct-tma.html\" data-link-name=\"in body link\" rel=\"nofollow noopener\" target=\"_blank\">late-stage study of the rare disease drug Ultomiris also failed<\/a>.<\/p>\n<p class=\"dcr-1s160rg\"><a href=\"https:\/\/www.astrazeneca.com\/media-centre\/press-releases\/2026\/update-on-evolve-lung02-phase-iii-trial.html\" data-link-name=\"in body link\" rel=\"nofollow noopener\" target=\"_blank\">AstraZeneca also scrapped an advanced study of experimental lung cancer drug volrustomig<\/a> earlier this month after a committee overseeing the trial said it was \u200bunlikely to meet its main goal.<\/p>\n<p class=\"dcr-1s160rg\">Despite the latest news, the company\u2019s shares dipped 0.4% on Thursday, having fallen 14% since Wainua\u2019s trial failure.<\/p>\n<p class=\"dcr-1s160rg\">While the Tezspire results are encouraging, investors remain focused on upcoming results from two cancer trials that are seen as critical \u2060to AstraZeneca\u2019s pipeline.<\/p>\n<p class=\"dcr-1s160rg\">Sharon Barr, executive vice president of BioPharmaceuticals R&amp;D at the company, said:<\/p>\n<p>double quotation markThe positive results of the Phase III CROSSING trial reinforce our confidence in the differentiated mechanism of action of Tezspire, which has now demonstrated clinically meaningful efficacy in a third epithelial-driven inflammatory disease.<\/p>\n<p>Epithelial science represents an important and rapidly evolving area in respiratory and immunology medicine, and we look forward to sharing these results at an upcoming medical meeting and with regulatory authorities as quickly as possible.<\/p>\n<p class=\"dcr-1s160rg\"><a href=\"https:\/\/pmc.ncbi.nlm.nih.gov\/articles\/PMC122525\/\" data-link-name=\"in body link\" rel=\"nofollow noopener\" target=\"_blank\">Epithelia are tissues consisting of sheets of similar cells <\/a>bound closely together, which include the epidermis, the surfaces of the eyes, the surfaces of the hollow tubes and sacs that make up the digestive, respiratory, reproductive, and urinary tracts, and the secretory cells and ducts of various glands.<\/p>\n<p><a href=\"mailto:?subject=Trump administration reportedly considering \u2018new round of sweeping tariffs on semiconductors\u2019 \u2013 as it happened&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/aug\/27\/asian-technology-shares-ride-high-ai-optimism-nvidias-stunning-results-jackson-hole-live-updates?CMP=share_btn_url&amp;page=with%3Ablock-6a901e898f08650183b593fd#block-6a901e898f08650183b593fd\" type=\"button\" class=\"dcr-10ju04u\">Share<\/a>Coca-Cola, Stella shortages loom as West Yorkshire Lockwood Haulage workers to strike<\/p>\n<p class=\"dcr-1s160rg\">There could be Coca-Cola, Budweiser, Stella and Heineken shortages, as 40 workers at Lockwood Haulage Ltd in West Yorkshire plan to strike next month in a dispute around pay.<\/p>\n<p class=\"dcr-1s160rg\">The workers, Unite members based in Knottingley and South Kirby, have rejected a \u201cmiserly\u201d 1% increase, applied across all grades and allowances, backdated to 1 March 2025, the union said.<\/p>\n<p class=\"dcr-1s160rg\">They are forklift truck drivers and machine operators in Lockwood\u2019s glass division, and will walk out in an all-out strike from 2 September.<\/p>\n<p class=\"dcr-1s160rg\">Lockwood, a family-owned medium-sized business, has also said it will introduce an attendance-based bonus scheme, rather than pay increases. This would be \u00a3250 each quarter if they meet the attendance criteria, which workers believe will leave them financially worse off.<\/p>\n<p class=\"dcr-1s160rg\">The cost-of-living crisis is impacting these workers, who previously worked for GXO before being transferred in March 2025 in a TUPE agreement and have not had a pay rise since October 2023, Unite said. They work four days on four days off and their salary includes weekend working, shift allowances, and bank holiday pay.<\/p>\n<p class=\"dcr-1s160rg\">Unite has attended multiple meetings to try to reach an agreement but said Lockwood has failed to resolve the issue.<\/p>\n<p class=\"dcr-1s160rg\">Unite general secretary Sharon Graham said:<\/p>\n<p>double quotation markThe fact that workers have not had a pay rise in nearly three years is an absolute insult and to be now offered a measly one per cent is a further kick in the teeth.<\/p>\n<p>Moving away from yearly increases to a bonus scheme is simply another way to shortchange our members at Lockwood. Unite will not allow this unacceptable attack on pay and our members have our full support in their industrial action.<\/p>\n<p class=\"dcr-1s160rg\">Strike action will have a major impact on Lockwood\u2019s customer Ardagh Glass and the household names it supplies which include Coca Cola, Budweiser, Stella and Heineken, and could lead to shortages of these products, according to the union. It also produces whiskey bottles for Jameson, J&amp;B and Johnnie Walker as well as wine bottles.<\/p>\n<p>  Photograph: NurPhoto\/Getty<\/p>\n<p class=\"dcr-1s160rg\">Unite regional officer Jessica Sangha said:<\/p>\n<p>double quotation markAny strike action is completely the fault of Lockwood management, who have insulted our members with this paltry pay offer.<\/p>\n<p>Industrial action can be avoided, but that relies on Lockwood coming back with improvements to the pay offer which our members will find acceptable.<\/p>\n<p class=\"dcr-1s160rg\">Workers at the Knottingley site previously went on strike in July 2025 in a bid to gain Unite recognition after being transferred from GXO, where they had recognition, after Lockwood refused to recognise the union. Unite members won the dispute and the union is now formally recognised for collective bargaining at Lockwood.<\/p>\n<p class=\"dcr-1s160rg\">The company has been contacted for comment.<\/p>\n<p><a href=\"mailto:?subject=Trump administration reportedly considering \u2018new round of sweeping tariffs on semiconductors\u2019 \u2013 as it happened&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/aug\/27\/asian-technology-shares-ride-high-ai-optimism-nvidias-stunning-results-jackson-hole-live-updates?CMP=share_btn_url&amp;page=with%3Ablock-6a901ef08f080343b990a319#block-6a901ef08f080343b990a319\" type=\"button\" class=\"dcr-10ju04u\">Share<\/a><\/p>\n<p>Updated at\u00a007.57 EDT<\/p>\n<p>Trump administration reportedly considering new round of &#8216;sweeping&#8217; tariffs on chips<\/p>\n<p class=\"dcr-1s160rg\">The Trump administration is reportedly considering a new round of sweeping tariffs on semiconductors \u2013 despite warnings from technology companies that the move could harm US hopes of dominating artificial intelligence.<\/p>\n<p class=\"dcr-1s160rg\">One tariff approach under consideration would dramatically expand the number of tech products subject to the duties, hitting not just chips but potentially many of the goods made with them, such as laptops, gaming consoles or the servers that fill data centres, <a href=\"https:\/\/www.politico.com\/news\/2026\/08\/27\/data-centers-chips-tariffs-threat-01050957\" data-link-name=\"in body link\" rel=\"nofollow noopener\" target=\"_blank\">Politico reported on Thursday, citing eight people familiar with discussions<\/a>.<\/p>\n<p class=\"dcr-1s160rg\">US commerce secretary Howard Lutnick favours a structure that would tie foreign companies\u2019 relief from the tariffs to investment in US chip manufacturing to fuel more domestic production, according to four of the people, Politico said.<\/p>\n<p class=\"dcr-1s160rg\">The administration is mulling a phase-in period for the new tariffs, the four people said. They added that the framework could still be substantially revised in the coming weeks or months.<\/p>\n<p><a href=\"mailto:?subject=Trump administration reportedly considering \u2018new round of sweeping tariffs on semiconductors\u2019 \u2013 as it happened&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/aug\/27\/asian-technology-shares-ride-high-ai-optimism-nvidias-stunning-results-jackson-hole-live-updates?CMP=share_btn_url&amp;page=with%3Ablock-6a9011d88f080343b990a26b#block-6a9011d88f080343b990a26b\" type=\"button\" class=\"dcr-10ju04u\">Share<\/a><\/p>\n<p>Updated at\u00a006.36 EDT<\/p>\n<p class=\"dcr-1s160rg\">Here\u2019s more reaction to the 981,000 young people not in education, employment or training (Neets) in the UK.<\/p>\n<p class=\"dcr-1s160rg\">Chris Goulden, deputy chief executive of the Youth Futures Foundation, said:<\/p>\n<p>double quotation markThis is a stark reminder that, despite small fluctuations in the data, the youth employment challenge remains a large, long-term problem. Hundreds of thousands of young people are continuing to miss out on the opportunity to earn, learn and build a secure future, leaving long-term scarring effects on their wellbeing, health and earning prospects.<\/p>\n<p>Behind the statistics are young people facing real and often complex barriers to entering and staying in education, training and employment.<\/p>\n<p class=\"dcr-1s160rg\">Jon Sparkes, chief executive of learning disability charity Mencap, said:<\/p>\n<p>double quotation markToday\u2019s welcome figures are a reminder that young people are not work-shy, but it is too often the systems around them that are failing to meet their ambitions\u2026youth unemployment is still at its highest in more than a decade.<\/p>\n<p>Only around one in four adults with a learning disability has a paid job, despite the vast majority telling us they want to work. The issues \u2013 inaccessible recruitment, a postcode lottery of employment support, and employers lacking confidence \u2013 are as high as they were yesterday.<\/p>\n<p class=\"dcr-1s160rg\">Sam Tims, lead analyst at the Joseph Rowntree Foundation, a think tank, said:<\/p>\n<p>double quotation markNearly a million young people not earning or learning is the result of an economy that leaves young people behind, creates too few opportunities, and particularly fails those growing up in poverty.<\/p>\n<p>It speaks to a lack of support for young people to move forward with their lives. Not only does growing up in persistent poverty more than triple the risk of being out of work or learning, inadequate income also prevents people from being able to move back into learning or earning.<\/p>\n<p class=\"dcr-1s160rg\">He added that the <a href=\"https:\/\/www.theguardian.com\/society\/2026\/may\/28\/a-record-of-failure-whats-in-the-first-part-of-alan-milburns-neet-report\" data-link-name=\"in body link\" rel=\"nofollow noopener\" target=\"_blank\">review by former government minister <\/a><a href=\"https:\/\/www.theguardian.com\/society\/2026\/may\/28\/a-record-of-failure-whats-in-the-first-part-of-alan-milburns-neet-report\" data-link-name=\"in body link\" rel=\"nofollow noopener\" target=\"_blank\">Alan Milburn<\/a><a href=\"https:\/\/www.theguardian.com\/society\/2026\/may\/28\/a-record-of-failure-whats-in-the-first-part-of-alan-milburns-neet-report\" data-link-name=\"in body link\" rel=\"nofollow noopener\" target=\"_blank\"> <\/a>on youth unemployment must be a \u201cturning point\u201d for the support offered to young people.<\/p>\n<p><a href=\"mailto:?subject=Trump administration reportedly considering \u2018new round of sweeping tariffs on semiconductors\u2019 \u2013 as it happened&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/aug\/27\/asian-technology-shares-ride-high-ai-optimism-nvidias-stunning-results-jackson-hole-live-updates?CMP=share_btn_url&amp;page=with%3Ablock-6a90049c8f081bc505264010#block-6a90049c8f081bc505264010\" type=\"button\" class=\"dcr-10ju04u\">Share<\/a><\/p>\n<p>Updated at\u00a005.47 EDT<\/p>\n<p class=\"dcr-1s160rg\"><a href=\"https:\/\/www.gov.uk\/government\/news\/governments-jobs-guarantee-turns-promise-into-paycheques-for-young-people\" data-link-name=\"in body link\" rel=\"nofollow noopener\" target=\"_blank\">The <\/a><a href=\"https:\/\/www.gov.uk\/government\/news\/governments-jobs-guarantee-turns-promise-into-paycheques-for-young-people\" data-link-name=\"in body link\" rel=\"nofollow noopener\" target=\"_blank\">jobs <\/a><a href=\"https:\/\/www.gov.uk\/government\/news\/governments-jobs-guarantee-turns-promise-into-paycheques-for-young-people\" data-link-name=\"in body link\" rel=\"nofollow noopener\" target=\"_blank\">guarantee scheme<\/a> is a new government programme which has promised to create 90,000 fully funded jobs by 2029, a key part of the government\u2019s \u00a32.5bn drive to tackle high youth unemployment.<\/p>\n<p class=\"dcr-1s160rg\">The first young people have started their jobs under the initiative. It offers a direct route into work for all 18\u2013 24-year-olds who have been claiming universal credit and looking for work for 18 months.<\/p>\n<p class=\"dcr-1s160rg\">Roles on offer are matched to the individual\u2019s skillset, with the government funding up to 25 hours\u2019 paid work for six months to get young people into the labour market.<\/p>\n<p class=\"dcr-1s160rg\">Work must be \u201cpart of the answer\u201d to the mental health crisis among young people, the work and pensions secretary, Pat McFadden, said as he met some of the first beneficiaries of Labour\u2019s <a href=\"https:\/\/www.theguardian.com\/society\/2026\/jun\/28\/employers-great-britain-3000-for-every-long-term-unemployed-young-person-they-hire\" data-link-name=\"in body link\" rel=\"nofollow noopener\" target=\"_blank\">youth jobs guarantee scheme<\/a>, our economics editor Heather Stewart reported from Nottingham.<\/p>\n<p>Pat McFadden visits the Boots warehouse in Nottingham to meet the first young people taking part in the \u2018Jobs Guarantee\u2019 scheme. Photograph: Joe Giddens\/PA<\/p>\n<p class=\"dcr-1s160rg\">Some of the recruits were packing and labelling boxes of products to be posted out to households, and others are in administrative roles. They told McFadden about long periods of fruitless jobhunting.<\/p>\n<p class=\"dcr-1s160rg\">A rise in cases of mental illness is widely cited as one cause for the increase in the number of young people not in education, employment or training (Neets) in recent years.<\/p>\n<p class=\"dcr-1s160rg\">But McFadden said the reasons could run the other way, too.<\/p>\n<p>double quotation markWork is part of the answer. Work is good for you. It\u2019s bad for your mental health to be sitting at home, isolated.<\/p>\n<p><a href=\"mailto:?subject=Trump administration reportedly considering \u2018new round of sweeping tariffs on semiconductors\u2019 \u2013 as it happened&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/aug\/27\/asian-technology-shares-ride-high-ai-optimism-nvidias-stunning-results-jackson-hole-live-updates?CMP=share_btn_url&amp;page=with%3Ablock-6a9001158f08650183b5927c#block-6a9001158f08650183b5927c\" type=\"button\" class=\"dcr-10ju04u\">Share<\/a><\/p>\n<p>Updated at\u00a007.59 EDT<\/p>\n<p class=\"dcr-1s160rg\">Ben Harrison, director of the Work Foundation at Lancaster University, a think tank, said the figures show \u201cthere are no quick fixes to the youth employment crisis\u201d facing the UK. <\/p>\n<p class=\"dcr-1s160rg\">And although nearly three quarters (73%) of employers recognise <a href=\"https:\/\/www.lancaster.ac.uk\/work-foundation\/news\/employers-call-youth-worklessness-a-national-crisis-as-more-than-one-in-three-cut-entry-level-jobs\" data-link-name=\"in body link\" rel=\"nofollow noopener\" target=\"_blank\">youth worklessness as a national crisis<\/a>, according to the Work Foundation\u2019s research, more than a third (36%) report having cut entry-level jobs in the last year. For young jobseekers, facing repeated rejection and struggling to secure a foothold in work can be particularly demoralising, he said.<\/p>\n<p>double quotation markAlthough more young people are now looking for work than a year ago, they are doing so at a particularly difficult moment to take their first steps into the labour market. Work Foundation research indicates the number of \u2018starter\u2019 jobs accessible to people entering work for the first time has fallen by <a href=\"https:\/\/www.lancaster.ac.uk\/work-foundation\/publications\/starting-out\" rel=\"nofollow noopener\" target=\"_blank\">49% over the last decade<\/a>, leaving only one starter vacancy for every three NEET young people nationally.<\/p>\n<p>This decline in employment opportunities is critical, as without improving young people\u2019s access to secure jobs, it will be very challenging to sustainably reduce the number of young people outside the labour market. Government and employers must therefore focus urgently on expanding the quantity and quality of entry-level opportunities available to them.<\/p>\n<p>In particular, to ensure the Jobs Guarantee genuinely strengthens the first rungs on the jobs ladder for young people, it must create additional, secure jobs that provide realistic routes to sustained employment and progression. And there is scope for government to provide additional support to employers to improve recruitment, induction, mentoring and workplace adjustments to help ensure these workplace policies are not creating additional barriers to young people seeking work.<\/p>\n<p><a href=\"mailto:?subject=Trump administration reportedly considering \u2018new round of sweeping tariffs on semiconductors\u2019 \u2013 as it happened&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/aug\/27\/asian-technology-shares-ride-high-ai-optimism-nvidias-stunning-results-jackson-hole-live-updates?CMP=share_btn_url&amp;page=with%3Ablock-6a9003088f08650183b59295#block-6a9003088f08650183b59295\" type=\"button\" class=\"dcr-10ju04u\">Share<\/a><\/p>\n<p class=\"dcr-1s160rg\">\u201cAlmost one million young people stuck out of work is a crisis which has been a decade in the making, and will take time to turn around,\u201d warned TUC general secretary Paul Nowak.<\/p>\n<p>double quotation markThe prime minister has rightly made getting more young people into work a priority \u2013 from strengthening vocational education to delivering greater access to work placements and training.<\/p>\n<p>The evidence is crystal clear &#8211; good quality employment support, more good training places and a strong growing economy with more vacancies is what we need. Holding down workers\u2019 rights will only hold back young people\u2019s employment prospects.<\/p>\n<p>That\u2019s why the prime minister must keep going with measures to support young people into good quality work \u2013 including by delivering rights to guaranteed hours in full and ending the scourge of insecure work.<\/p>\n<p>The government\u2019s jobs guarantee is an important step forward too. But ministers need to put the turbo boosters on the scheme by expanding places and ending the 18-month wait.<\/p>\n<p>We know that early experience of good-quality, paid work can make a huge difference to young people\u2019s prospects across their lifetimes.<\/p>\n<p><a href=\"mailto:?subject=Trump administration reportedly considering \u2018new round of sweeping tariffs on semiconductors\u2019 \u2013 as it happened&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/aug\/27\/asian-technology-shares-ride-high-ai-optimism-nvidias-stunning-results-jackson-hole-live-updates?CMP=share_btn_url&amp;page=with%3Ablock-6a90009d8f08650183b59277#block-6a90009d8f08650183b59277\" type=\"button\" class=\"dcr-10ju04u\">Share<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Trump administration reportedly considering new round of &#8216;sweeping&#8217; tariffs on chips The Trump administration is reportedly considering a&hellip;\n","protected":false},"author":2,"featured_media":870422,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[256,254,255,64,63,105],"class_list":["post-870421","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-au","tag-australia","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/870421","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=870421"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/870421\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/870422"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=870421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=870421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=870421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}