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Multiple Developments Shake Business and Political Landscapes
Several significant developments are impacting businesses and political landscapes globally. These include Russia's move to block WhatsApp, Lloyds Banking Group's decision to close branches, a US House vote against tariffs on Canada, and a US president's order for the Pentagon to purchase coal-generated electricity. Additionally, hospitality bosses are urging the government to scrap proposed holiday taxes in England.
Russia has attempted to fully block WhatsApp, according to the company, as the Kremlin continues to tighten restrictions on messaging apps. This move aims to push over 100 million WhatsApp users in Russia to a "state-owned surveillance app," according to Meta-owned WhatsApp. This follows further restrictions on Telegram, which has an estimated user base similar to WhatsApp in Russia. The Kremlin has not yet commented on the situation.
In the UK, Lloyds Banking Group announced it would close another 95 branches between May this year and March 2027, including 53 Lloyds, 31 Halifax, and 11 Bank of Scotland sites. This is part of an ongoing closure program, and once completed, Lloyds will have 610 branches remaining. A Lloyds spokesperson stated that "Customers want the freedom to bank in the way that works for them."
Across the Atlantic, the US House voted to rescind tariffs imposed on Canada last year, representing a rare bipartisan rebuke of the White House's trade policy. The resolution passed 219 to 211, with six Republicans joining Democrats in the vote. This action disapproved of the national emergency declared by the US president to impose tariffs.
Meanwhile, the US president ordered the Pentagon to buy electricity generated by coal, his latest effort to boost demand for the fossil fuel. In an executive order signed on Wednesday, the US Department of Defence was directed to enter into long-term purchase agreements with coal-fired plants.
In England, over 200 hospitality and leisure bosses have urged the government to scrap proposals for a holiday tax. They argue that the proposed tax, which would allow local leaders to introduce a "modest" tourist tax, would drain money from local businesses. Major holiday providers, including Butlin's, Hilton, Travelodge, and the owner of Alton Towers theme park, have expressed their concerns to the government. "Holidays are for relaxing, not taxing," according to one source.
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