Uncertainty created by the latest round of US tariffs could make the UK a more attractive base for Japanese businesses, according to audit, tax and business advisory firm Blick Rothenberg. The US applied new tariffs under Section 301 of the Trade Act from 24 July, set at 12.5 per cent on imports from Japan.

Yusuke Takanishi, a partner at the firm, said: “Following the reintroduction of US tariffs, the long-standing and stable investment relationship between the UK and Japan may become even more valuable in the years ahead.”

He added: “The new US tariffs apply to many major trading partners, including Japan, under a different legal and policy framework from previous trade measures. This is despite the fact that Japan has worked hard to strengthen economic ties with the United States over recent years. Japanese companies have expanded manufacturing facilities, invested in infrastructure, strengthened supply chains and created jobs across the US.”

Takanishi said: “The latest US measures suggest that the relationship between investment and trade policy may not be as straightforward as businesses would hope. Even where economic cooperation is deep and long-standing, companies may still find themselves exposed to new tariffs introduced through a different policy route.”

UK goods have also been subject to US duties. The US International Trade Commission estimates American buyers paid $1.36bn in tariffs on British exports over four months last year, six times the figure for the same period in 2024.

Agreements set out after a Downing Street summit with Japanese prime minister Sanae Takaichi are expected to deliver more than £18bn in economic gains, including up to £9bn for UK offshore wind farms.

Takanishi said: “Against this backdrop, developments in the UK deserve attention from Japanese businesses. The New Prime Minister Andy Burnham has outlined an agenda focused on re-industrialising Britain, investing in infrastructure, strengthening regional economies and developing a longer-term growth strategy. While details will emerge over time, the direction of travel appears to be towards rebuilding industrial capacity and creating conditions for long-term investment.”

Burnham, who took office on 20 July, was mayor of Greater Manchester, where Japanese investors put almost £118m into the city region in a year.

He added: “For Japanese companies operating in the UK, and for UK businesses with interests in Japan, this creates an interesting contrast. At a time when global trade relationships are becoming more complicated and less predictable, the UK–Japan relationship remains rooted in long-term investment, deep commercial ties and mutual trust. The conversation is therefore moving beyond simple market access. Increasingly, businesses are asking where they can make investment decisions with confidence over a five- or ten-year horizon.”

Takanishi said: “From an accounting, tax and compliance perspective, Japanese businesses should therefore be looking beyond the immediate impact of tariffs. Supply chain structures, transfer pricing policies, customs arrangements, governance frameworks and Environmental, Social, and Governance (ESG)-related compliance all need to be reviewed in light of a more uncertain global environment. In my experience, discussions with management teams today are becoming less about finding the lowest-cost location and more about building resilience and predictability into business models.”

He said Japan’s May trade data had shown an external sector that was improving, but not in a broad-based way, with export volume growth remaining modest and part of the improvement driven by currency effects and pricing rather than underlying demand.

He added: “June’s figures are stronger. Japan’s exports increased by 19.3% year-on-year, supported by semiconductor-related demand and AI investment, while imports rose by 25.4%, driven in part by higher energy costs and the weaker yen. But the current environment should not yet be described as a fully established export-led recovery. Japanese businesses continue to face rising input costs, geopolitical uncertainty and renewed questions around global trade policy.”

The June increases, published in the Ministry of Finance trade statistics, were the fastest for both exports and imports since November 2022.

Takanishi said: “The Bank of Japan’s latest Regional Economic Report broadly supports this balanced view. All nine regions were assessed as either recovering or showing moderate improvement, pointing to continued resilience but not necessarily a rapid acceleration in economic activity.”

The report, published on 9 July, left the Bank’s assessment unchanged for all nine regions.

Amy Ingham

Amy Ingham is a reporter at Business Matters, covering UK business news with a focus on breaking news, business policy, late payments and insolvency. She joined the magazine in 2026 after completing the NCTJ Diploma in Journalism at Harlow College’s journalism school. Her recent reporting includes British Steel’s nationalisation and its impact on SME suppliers, the decline in late payments by large firms, and Insolvency Service director disqualifications. Reach her at aingham@cbmeg.co.uk.

MOUNTAIN VIEW, Calif. — Google will raise prices across its Pixel smartphone lineup, including upcoming models and some already on the market, as soaring memory costs driven by artificial intelligence demand reshape the economics of consumer devices.

Shakil Barkat, Google’s vice president of devices and services, confirmed the moves in an interview, saying the company has absorbed higher component costs for as long as possible but can no longer fully shield buyers. “The economics have fundamentally shifted and we’re not immune to that,” Barkat said.

He pointed to research from Morgan Stanley showing the cost of 1 gigabyte of RAM has risen from $2.80 last year to $12 in 2026, a roughly sixfold increase. Barkat described the situation as unprecedented, stating there has “never been an increase in memory prices like the world’s going through right now.” The surge stems largely from memory manufacturers redirecting production capacity toward high-bandwidth memory used in AI data centers, tightening supply for consumer electronics.

Price adjustments will apply to the entire Pixel family and will be rolled out dynamically to reflect supply conditions. This includes the forthcoming Pixel 11 series, expected to be unveiled on Aug. 12, as well as in-market devices such as the Pixel 10a. Specific pricing details have not been disclosed and are expected at the launch event.

Leaked information circulating in industry reports suggests the base Pixel 11 could start around $899, about $100 higher than the Pixel 10’s entry price. Some configurations may eliminate the 128-gigabyte storage option in favor of 256 gigabytes as the new baseline. Reports also indicate certain higher-end models could ship with 12 gigabytes of RAM rather than 16 gigabytes, a potential cost-control measure.

Barkat emphasized that Google is not simply passing on higher costs. The company is working to engineer solutions that reduce the memory demands of Android and its app ecosystem so devices can maintain smooth performance with less RAM. “We’re aggressively engineering” approaches to deliver a fluid experience even as hardware constraints tighten, he said.

The memory shortage has already prompted price increases from other major consumer technology companies. Apple, Microsoft, Nintendo and others have adjusted pricing on various products in response to the same supply pressures. For Google, which has positioned Pixel devices as competitive alternatives emphasizing software experience and camera performance at relatively accessible price points, the shift marks a notable change in strategy.

Industry analysts note that the AI-driven reallocation of semiconductor capacity has created one of the most significant component cost pressures in years for smartphones, tablets and other consumer devices. High-bandwidth memory required for training and running large AI models commands premium pricing and has drawn production resources away from standard DRAM used in phones and PCs.

Google’s Made by Google event on Aug. 12 is expected to provide full details on the Pixel 11 series, including exact pricing, specifications and any software optimizations designed to mitigate the impact of lower RAM configurations. The company has historically used software advantages, including multi-year software support and AI features, to differentiate its phones from competitors that often lead in raw hardware specifications.

For existing Pixel owners and prospective buyers, the changes mean higher out-of-pocket costs in the near term. Barkat indicated that promotions, trade-in offers and bundled services such as Google One will remain part of the company’s approach to keeping devices accessible. Exact timing for adjustments to current models like the Pixel 10a has not been specified.

The broader supply chain disruption illustrates how the rapid expansion of AI infrastructure is cascading into everyday consumer products. Memory makers including Samsung, SK Hynix and Micron have prioritized higher-margin AI-related production, leaving less capacity for the more standardized components that power smartphones.

Google’s decision to publicly address the issue ahead of its major hardware launch reflects the scale of the cost pressure. By confirming that adjustments are coming and highlighting engineering efforts to reduce software memory requirements, the company is attempting to manage expectations while signaling it is actively working to limit the long-term impact on users.

Smartphone makers have faced rising costs from multiple directions in recent years, including advanced chip fabrication processes and display technology. The current memory situation stands out for its suddenness and magnitude. A sixfold increase in a core component within roughly a year leaves limited room for manufacturers to absorb the difference without adjusting retail prices.

As the industry adapts, some devices may ship with lower RAM configurations than previous generations while relying more heavily on software efficiency and cloud features. Google’s focus on optimizing Android for reduced memory footprints could influence how other manufacturers approach the challenge.

The Aug. 12 event will clarify how the price changes translate into specific models and what trade-offs, if any, buyers will encounter in storage, memory and other specifications. Until then, the confirmation from Barkat establishes that the Pixel lineup will not be exempt from the industry-wide effects of the memory market shift.

For consumers considering a new Pixel, the landscape has changed. Devices that previously competed aggressively on value will now carry higher starting prices, even as Google works to preserve the software experience that has been a hallmark of the brand. The coming weeks will reveal the precise extent of those adjustments and whether engineering improvements can meaningfully offset the hardware cost realities now facing the entire sector.

Cracker Barrel announced on Monday that CEO Julie Masino will step down, effective Aug. 10, and be replaced by David Deno.

Masino will remain with the company in an advisory capacity until Oct. 9.

“Following a robust and thoughtful search process, we are pleased to welcome David as Cracker Barrel’s next CEO,” independent Chairman of the Cracker Barrel Board, Carl Berquist, said in a statement. “He brings decades of experience across the restaurant and retail industries, with a strong track record of leading businesses through growth and a demonstrated commitment to operational excellence, guest experience, and team member engagement. We are confident David is the right leader to continue building on the Cracker Barrel legacy, drive further positive momentum operationally and financially, and create sustainable value for our shareholders.”

General view of a Cracker Barrel Country Store in Fishkill, NY, Monday, August 25, 2025. (Richard Beetham for Fox News Digital)

This is a breaking news story. Please check back for updates.

A resilient supply chain enhances competitiveness, builds investor confidence, and drives growth. Collaboration among sectors is crucial for sustainable development, leveraging technology and data to improve efficiency and manage risks.

• A strong supply chain is a strategic factor that determines competitiveness, builds investor confidence, and drives sustainable growth.
• Collaboration among the public and private sectors, capital market, and financial institutions is essential to developing a resilient supply chain – supporting access to funding, elevating operational standards, and building strong business networks.
• Data connectivity, digital technology, and sustainability integration enable businesses to proactively manage risks, improve efficiency, and meet evolving global standards.

The Stock Exchange of Thailand (SET) hosted the SET Sustainability Forum 2/2026, themed “Turning Global Volatility into Strategic Competitive Advantage through Supply Chain” on July 21, 2026. The forum brought together policymakers, capital market leaders, and top executives to exchange views on building a resilient, transparent, and sustainable supply chain amid global economic volatility, geopolitical tensions, and shifting trade regulations.

SET President Asadej Kongsiri stated that SET is committed to developing an ecosystem that enables supply chain operators to manage risk, elevate ESG standards, and remain competitive over the long term. This includes capacity building and developing sustainability tools such as SETCarbon for carbon data management to meet global standards, while broadening access to funding across the supply chain—in line with SET’s vision, “The Trusted Gateway to Inclusive Opportunities.”

The forum’s key highlight was a keynote address titled “Driving Thailand’s Economy and Supply Chain through Economics Policies, Financial Mechanism, and Digital Infrastructure”, delivered by Deputy Prime Minister and Minister of Finance Ekniti Nitithanprapas. In his address, Ekniti emphasized the “Big Brother Helps Little Brother” approach, encouraging large corporations to uplift SMEs and trading partners through knowledge sharing, technology, and business opportunities. He also highlighted the PromptBiz platform’s role in connecting business data, streamlining transactions, and expanding SMEs’ access to funding as a vital driver of Thailand’s economy.

The Federation of Thai Capital Market Organizations (FETCO) Chairman Paiboon Nalinthrangkurn noted that today’s investors look beyond financial performance alone, placing growing importance on supply chain resilience and sustainability practices. A transparent and traceable supply chain reduces costs, improves efficiency, and attracts long-term investment. Collaboration among the public sector, private sector, and capital market is therefore essential to helping businesses adapt and grow sustainably.

The forum also featured a panel discussion titled “Navigating Global Volatility… Building Resilient and Sustainable Supply Chains”, with representatives from the industry, logistics, the government agency overseeing SME promotion, and financial institutions. Panelists comprised Suthad Setboonsarng, Somboon Advance Technology pcl Chairman and Independent Director; Nattapume Pavaratn, SCG JWD Logistics pcl Senior Vice President – Group Commercial/Government Liaison; Wannawat Opasvadhana, Office of Small and Medium Enterprises Promotion (OSMEP) Director of SME Promotion Policy and Planning Department; and Gunn Thirawat, Bank of Ayudhya Senior Vice President and Head of TBG Sales and Business Promotion Division. The session was moderated by Supakorn Ekachaipaiboon, SET Vice President – Head of ESG Infrastructure Development.

For more information on the forum, please visit www.SETSustainability.com or follow LINE Official: @SETsustainability

Source : SET joins forces with all sectors to strengthen Thai supply chain amid global volatility

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The Leicestershire-based business is looking to list on London’s junior market

Aerospace drilling firm Tek4 is preparing for an initial public offering in London, providing a welcome boost to the London Stock Exchange as it seeks to attract more defence companies to market.

The Leicestershire-based business, which counts Rolls-Royce and GE amongst its clients, is aiming to raise £20m through a listing on London’s junior market Aim at a valuation of approximately £40m, according to City AM.

Bankers at Panmure Liberum have been appointed to oversee the IPO, which is anticipated to take place later this year. Panmure Liberum declined to comment.

Tek4, which also maintains offices in Carolina, designs and manufactures specialised drilling machines for aircraft and gas turbine components.

Led by 40-year industry veteran Jason Duffin, the company has experienced a sharp increase in sales over the past year as conflict in Russia and the Middle East drives demand for its machinery.

A new factory currently under construction near its Leicestershire headquarters is also projected to boost its production capacity by approximately 80 per cent, sources said.

The listing will offer some respite to the London Stock Exchange following a shortage of new IPOs and a wave of takeovers over the past year. Across the main market and AIM, only seven companies listed in the first six months of the year, raising £577m.

Bankers are actively seeking defence-related businesses to bring to market as the government moves to strengthen the industry and investors capitalise on a surge in demand. The appointment of former defence secretary John Healey as chancellor last week is also widely anticipated to signal a significant boost in funding for the sector.

In his inaugural address as prime minister last Monday, Andy Burnham reaffirmed the UK’s commitment to raising defence spending from 2.6 per cent of GDP to Nato’s target of 3.5 per cent by 2035.

Should the pledge be delivered, it would represent a real-terms uplift of more than £25bn in under a decade.

Tottenham Hotspur icon Ledley King has reignited a familiar fan fantasy, saying he would still like to see Harry Kane return to the club, even as most signs point to the England captain remaining at Bayern Munich for the foreseeable future.

A simple answer to a familiar question

Asked which player he would most like to see Tottenham sign this summer transfer window, King, one of the most beloved defenders in club history, kept his response direct: he wants to see Kane back in a Spurs shirt. The comment, shared through Chris Cowlin, reflects a wish that has lingered among Tottenham supporters ever since Kane left the club for Bayern Munich in 2023 after spending his entire career to that point on Spurs’ books, scoring 280 goals in 435 appearances across all competitions.

Kane’s World Cup ends, focus shifts back to Bayern

Kane and England’s run at the 2026 World Cup came to a close after a semifinal defeat to Argentina, though the team salvaged third place with a win over France, England’s best finish at the tournament in years. With the international tournament behind him, Kane is expected to shift his full attention back to Bayern Munich, where contract discussions had been placed on hold during the World Cup while he focused exclusively on England’s campaign. Now that the tournament has ended, Bayern is expected to move quickly to secure the 32-year-old striker’s long-term future in Bavaria.

Why a return still looks unlikely

Despite the enduring hope among Tottenham fans, most reporting on Kane’s situation suggests a Premier League return remains a long shot. Sport Bild journalist Christian Falk downplayed the seriousness of recent transfer speculation tying Kane to both Real Madrid and Tottenham, noting that any move to Madrid specifically would require significant restructuring on the Spanish club’s part. “Los Blancos have to make a new plan, which could take a year, perhaps even two,” Falk said, suggesting neither rumored destination represents a realistic near-term option for Kane.

Kane himself has offered mixed signals about his long-term plans in recent months. Earlier this year, he acknowledged openness to staying in Munich beyond his current deal, saying, “In terms of staying longer, I could definitely see that,” while noting he had not yet formally discussed an extension with the club at that point. Barcelona had also shown cursory interest in Kane as a potential long-term replacement for Robert Lewandowski, but that inquiry was reportedly shut down quickly by Kane’s camp, further narrowing his realistic list of alternative destinations.

Tottenham’s own manager has welcomed the idea

The fantasy of a Kane reunion hasn’t been limited to fans and former players. Current Tottenham head coach Thomas Frank has openly said he would welcome Kane’s return, telling reporters, “There are a lot of Tottenham fans, including myself who would like to see Kane back.” Frank’s comments reflect a broader sentiment across the club that even with Kane firmly established at Bayern, the door to a reunion has never been fully closed in the minds of those connected to Tottenham.

Kane’s release clause has been a recurring talking point

Speculation around a potential Kane return has been fueled in part by a release clause reportedly built into his Bayern contract, which had allowed him to leave for a fee that started around £67 million in January 2025 and dropped to roughly £54 million the following January, provided he expressed a desire to leave before the end of January 2026. Whether that clause factors meaningfully into Kane’s actual decision-making about his future remains unclear, particularly given his stated comfort and success in Munich, where he has scored 100 goals in just 104 appearances since joining the club, a record across the top five European leagues.

Why Tottenham fans keep dreaming

Part of the enduring appeal of a Kane reunion stems from Tottenham’s current roster construction under manager Roberto De Zerbi, who has reshaped the club’s spending approach and brought in a wave of attacking talent, including Mohammed Kudus, Mathys Tel, Xavi Simons, James Maddison, Mateus Fernandes, Archie Gray, Dejan Kulusevski and Sandro Tonali. Fans and pundits alike have noted that a Kane-led attack surrounded by that level of talent would represent a significantly stronger supporting cast than what he played with during his earlier years at the club, when Tottenham often struggled to build sustained title contention around him even during standout individual seasons.

Tottenham’s need for reliable scoring has also fueled the fantasy. Richarlison was the club’s only double-digit Premier League goal scorer last season, leaving striker depth as arguably the team’s most pressing need heading into the current transfer window, a gap that has made the idea of Kane’s return, however unlikely, particularly appealing to supporters looking for a proven, elite-level goal scorer.

A dream that remains just that, for now

Even with the wishful thinking from King, Frank and Tottenham’s broader fan base, most credible reporting continues to suggest Kane’s future lies in Munich rather than North London. Bayern has consistently been described as offering Kane his clearest remaining path to major trophies, particularly the Champions League title that remains the most significant gap on his individual résumé, a factor widely seen as central to his decision to leave Tottenham for Bayern in the first place.

With Kane expected to fully shift his attention back to Bayern Munich now that the World Cup has concluded, contract extension talks between the two sides are likely to move forward in the coming weeks. Barring a dramatic and unexpected shift in Kane’s stance, Tottenham fans, including club legends like King, appear set to continue watching from a distance, holding onto the idea of a future reunion that, for now, remains more aspiration than realistic transfer prospect.