Credit

Labour called SNP first minister John Swinney ‘shameless’ for claiming credit when it was the result of king’s US visitDonald Trump’s announcement that he will lift punishing US tariffs on scotch whisky has been overshadowed by a row between rival Scottish party leaders over claiming credit for the decision.The whisky industry and business leaders were delighted by the US president’s sudden announcement on his Truth Social network on Thursday that he would end the tariffs to mark the visit by King Charles and Queen Camilla. Continue reading...

• SRI International contributed to four of the top 15 greatest US breakthroughs as ranked by Wall Street Journal readers: the internet, personal computing, color television, and artificial intelligence. • The recognition highlights SRI's foundational role in transformative technologies. • This acknowledgment underscores US leadership in science and innovation history.

Tony Burke says millions of people will be asking why the Liberals have a problem with their parents ‘who don’t speak great English but are great Australians’Follow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastLabor has accused Angus Taylor of “desperate dog-whistling” and says millions of Australians will be asking why the Liberal party has a problem with their parents who don’t speak English, amid a backlash to the opposition’s new hardline immigration policies.Immigration advocates, crossbenchers, and the race discrimination commissioner, Giridharan Sivaraman, have all criticised a new speech by Taylor, with the Greens likening the Coalition’s approach to a modern revival of the discriminatory White Australia policy. Continue reading...

Credit can be used to offset future bills as full-year losses at UK division widen to £41.3m and it adds 92 storesStarbucks’s UK retail arm received a £13.7m corporation tax credit last year, even as its sales increased 6% and it added more than 90 stores.The credit, which can be used to offset future tax bills, comes after losses widened to £41.3m in the 12 months to the end of September – almost matching the £40m it paid in royalty and licence fees to its parent company. Continue reading...

• Blackstone closed a $10 billion opportunistic private credit fund on April 8, 2026, reaching its hard cap target despite ongoing capital outflows in the sector. • The fund's successful close highlights Blackstone's strength in private credit as investors remain cautious due to market volatility and higher interest rates. • This deal underscores the resilience of top alternative asset managers in attracting institutional capital amid broader private credit struggles.

• Blue Owl Capital investors requested $5.4 billion in redemptions from two private credit funds amid accelerating outflows in the financial services sector. • The fund manager reversed its policy by capping redemptions at 5% to manage liquidity pressures effectively. • This development highlights rising concerns over private credit market stability amid broader economic uncertainties.

• Visa introduced six AI tools on April 1, 2026, to modernize credit-card dispute processes for merchants, issuers, and acquirers using generative responses and predictive models. • The tools address over 103 million disputes processed in 2025, a 35% increase since 2019, with features like document summarization and centralized case management. • Deployment will streamline operations for US financial institutions, reducing resolution times and costs significantly.

• Recent federal tax legislation and policy changes now require parents to have a valid Social Security number (SSN) to claim Child Tax Credit (CTC), Additional Child Tax Credit (ACTC), and Earned Income Tax Credit (EITC). • Undocumented parents who file taxes with an Individual Taxpayer Identification Number (ITIN) can no longer claim these credits even if their children are U.S. citizens, significantly reducing tax relief for mixed-status families. • Federal policies enacted in 2025 expanded the range of programs treated as "federal public benefits" subject to immigration-status eligibility restrictions, including Head Start, community health center services, and Title X family planning services.

Treasurer Jim Chalmers said the changes would help with the cost of living and that ‘Australians hate paying’ the surchargesDebit and credit card surcharges will be gone by October under Reserve Bank reforms, with big banks likely to foot the bill for the cost-of-living measures.The new rules, announced on Tuesday, will enable businesses to remove added fees on Mastercard, visa and eftpos card payments. Continue reading...

• The leading U.S. medical school accreditation body, LCME, removed language from its 2027-2028 standards requiring schools to teach about health inequities and disparities. • The previous standards mandated instruction on "health care disparities" and "approaches to reduce health care inequities," which were replaced with language on self-directed learning skills. • The change comes as the Trump Department of Justice probes three medical schools, amid growing political pressure on diversity and equity initiatives in medical education.

• A federal judge on Friday ruled against the Pentagon's press access overhaul that had withdrawn accreditations from prominent media outlets, ordering the restoration of media access. • The decision represents a significant legal victory for press freedom advocates challenging the Defense Department's restrictions on journalist credentials and Pentagon facility access. • The ruling underscores ongoing tensions between the Trump administration's approach to media access and constitutional protections for a free press.

Milan-based bank plans to up its near-30% stake in German lender to trigger formal talks despite strong opposition from BerlinTwo European banking powerhouses have become embroiled in a €35bn (£30bn) takeover battle after Italy’s UniCredit stepped up its long-running pursuit of German lender Commerzbank, despite strong opposition from the German government.UniCredit first took a stake of 9% in Commerzbank in September 2024 and has since built up its holding to just under 30%. It said on Monday it was pushing to increase that holding further and push the rival lender into formal merger talks. Continue reading...

• Americans give the Trump administration credit for reducing drug costs, according to recent polling highlighted in pharma updates. • A new study shows Eliquis (apixaban) safer than Xarelto (rivaroxaban) for patients with deep vein blood clots. • Abivax denies takeover rumors from AstraZeneca amid industry consolidation talks.

Growing stress in the global private credit market contributed to US investors dumping stocks before the March 13, 2026, close, alongside geopolitical risks and hedge fund losses. This pressure, distinct from recession fears, prompted defensive positioning as markets grappled with Persian Gulf uncertainties. Private credit strains, involving non-bank lending to companies, risk amplifying volatility if oil disruptions persist. Watchers note this as a key signal beyond traditional equity drivers.

Growing stress in the global private credit market contributed to institutional risk reduction on March 13, 2026, alongside geopolitical and oil concerns. Hedge funds faced losses, prompting defensive stances before the weekend close. This layered pressure exacerbated the Dow's 7% drop from its February 10 peak. Monitoring includes private credit default rates and fund liquidations next week.