Thousands of government credit cards are set to be cancelled as spending on them has surged to over half a billion pounds, prompting a freeze on all transactions and a thorough audit. Civil servants will need to justify their need for a “government procurement card” or face cancellation by the end of the month, with plans to reduce the number in circulation by at least half. Tighter spending controls will be implemented, including a reduction in the maximum amount spent on hospitality and additional approval requirements for high-cost purchases.
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Donald Trump strikes tariff deal with EU avoiding trade war
US President Donald Trump announced a deal with the EU, implementing a 15% tariff on EU goods and securing $600 billion in EU investments in the US, following negotiations with European Commission President Ursula von der Leyen. While the agreement offers some stability, many in Europe view it as a compromise from the desired zero-for-zero tariff deal, particularly impacting the automotive sector. Want More Context? 🔎
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