The EU’s proposed measure aims to introduce a fee on low-cost Chinese imports, targeting retailers such as Temu and Shein, as part of broader efforts to address concerns over competition and product standards.

At a showpiece summit, the UK and the EU orchestrated a post-Brexit reset of trade ties, introducing concessions on fisheries and addressing youth mobility as they aim to strengthen cooperation.

Boutique lenders, buoyed by post-pandemic optimism, are driving a surge in blank-cheque SPAC deals worth $9bn so far this year, with investors anticipating more lenient oversight coupled with renewed enthusiasm for these specialised investment vehicles.

Pharmaceutical group Novo removed its leader following a steep drop in share value, increasing competition in the obesity drug market, and reduced profit forecasts, raising concerns about the firm’s future performance.