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The US and Taiwan finalized a trade agreement aimed at reducing tariffs, enhancing market access for American goods in Asia, and strengthening economic ties. The deal aims to benefit both regions by promoting closer economic collaboration, increasing exports, and supporting mutual growth. It marks a significant step in their ongoing economic partnership.

Taiwan and the United States have recently signed a significant trade agreement aimed at strengthening their economic partnership. This pact signifies a boost in bilateral trade relations, fostering greater cooperation across various sectors including technology, manufacturing, and agriculture. The agreement is seen as a strategic move to enhance Taiwan’s economic stability and resilience in the face of regional challenges.

The trade pact also emphasizes commitments to fair trade practices and intellectual property protections, which are crucial for innovation-driven industries in Taiwan. For the United States, this agreement reinforces its support for Taiwan’s role as a vital economic partner in the Indo-Pacific region. Both nations aim to create a more predictable and transparent trading environment to benefit businesses and consumers alike.

This development comes amidst increasing geopolitical tensions in the Indo-Pacific. The trade pact not only bolsters economic ties but also signals shared commitments to stability and cooperation in the region. It highlights the importance Washington places on supporting Taiwan’s economic growth and sovereignty through strategic partnerships.

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The Swindon-based furniture retailer posted an operating loss of £4.2m for the year to June 2025, a two-thirds reduction on the previous year

Oak Furnitureland is planning further showroom expansion following an improvement in its profitability. The Swindon-based retailer is aiming to open a series of new stores throughout 2026, following the successful launch of a new showroom in Coventry this past September.

It is also planning to refurbish at least half of its existing store estate by the end of June. Despite posting an operating loss of £4.2m for the year ending June 2025, this represents a two-thirds reduction on the previous year.

Over the course of the year, revenue grew by two per cent to £240.5m, with sales growth accelerating to five per cent in the seven months since the firm’s financial year end. The company, which operates 69 showrooms across the UK, said it had continued to gain market share in a broadly flat market.

This was achieved by innovating its range and diversifying into new categories beyond traditional solid wood cabinetry, whilst also making the brand more accessible through the introduction of no-deposit, interest-free credit offers.

Oak Furnitureland chief executive Alex Fisher said: “Customers are increasingly making more considered purchases, opting for durable, long-life products for their homes.”

He added: “Our objective to take our brand beyond cabinetry and into the whole home, innovate our ranges, and make our offer more accessible to even more customers is now starting to deliver.”

Oak Furnitureland collapsed into administration in 2020 before being rescued by US private equity firm Davidson Kempner Capital Management, as reported by City AM.

The firm was previously the football kit sponsor for football club Burnley.

Oak Furnitureland’s results come after the boss of rival retailer Dunelm warned of continued subdued consumer confidence and said more and more cost-conscious shoppers were looking out for deals and discount prices.

“Customer confidence has remained low over a prolonged period of time,” said Clo Moriarty.

“What that tells me is that every pound of disposable income is hard-earned by retailers and a lot of thought goes in by customers on how and where to spend it.

“We’re definitely seeing high levels of discounting with customers looking for deals. But in equal measure we can see customers now keen to look at what’s fresh for the season.”

Last week, Dunelm reported a 3.6 per cent sales growth to £926m for the second half of 2025, whilst pre-tax profit slipped 7.5 per cent to £114m.

Residents are worried the ‘oversized’ apartment blocks will dominate the skyline

A campaign group is calling for ambitious plans to redevelop a landmark Cornwall hotel to be scaled back in order to prevent what they term as “oversized” apartment blocks from overshadowing the skyline and obstructing sea views in Newquay.

The Save Our Sea Views campaign is advocating for a reduction in the height of a proposed development that aims to refurbish and expand Hotel Victoria on East Street. The project would involve the construction of five residential blocks, housing 81 apartments.

If given the green light, the plans put forward by the Nicolas James Group would result in the demolition of several buildings, including the Griffin Inn, Senor Dicks Mexican Restaurant, a residential property to the north west of the hotel, and 1 Cliff Road.

The applicant intends to redevelop Hotel Victoria under its prestigious Hotel Nici brand, introducing a new 4/5-star hotel to the town.

However, the residents’ campaign group argues the proposals pose a threat to public sea views and could harm the coastal character of the town.

They are appealing to the applicant and Cornwall Council planners to reduce the height and bulk of the proposed apartment blocks, particularly ‘Block G’ on the former Berties nightclub site. They argue that the current designs favour large residential blocks over sensitive, context-led regeneration.

Whilst the campaigners emphasise that they are not against development, they are calling for a “better design that respects Newquay’s identity as a coastal town”.

“Newquay’s connection to the sea belongs to everyone,” said Jessie Jacobs, one of the organisers of Save Our Sea Views.

“From streets like Berry Road and Trenance Road, the sea is part of the public realm. These proposals risk turning open, coastal streets into enclosed corridors of concrete. Once those views are gone, they’re gone forever.”

The campaign raises concerns that the apartment blocks take centre stage in the current proposals, whilst the hotel itself isn’t scheduled for redevelopment for several years.

Locals worry this could lead to oversized residential blocks dominating the skyline, whilst sections of the site lie vacant or underutilised.

“This risks the worst of all outcomes,” said Ms Jacobs. “Permanent harm to public sea views now, with the promised benefits of hotel regeneration delayed for years. That is not balanced, responsible development.

“This is not about stopping regeneration. It’s about shaping it properly. Newquay deserves development that enhances the town, not overwhelms it.”

The campaign group has launched a public petition. They have also urged anyone opposing the development to submit planning objections.

Despite opposition from the Save Our Sea Views campaign group, the planning application has attracted just six public responses on the council’s portal to date – four objections and two in support.

Validated by the council on January 14, the application remains pending a decision.

Representing the Nicolas James Group, architects Kay Elliott have previously said: “The ambition is to reposition Hotel Victoria as a luxury hotel as part of the client’s Hotel Nici brand. In order to support the level of investment the development will include new stand alone residential apartment buildings located on brownfield land to the east and west of the hotel.”

According to a design statement, the site benefits from prominent views from multiple vantage points throughout the town. “It will be important to maintain these views of the hotel and enhance them from the closer views.

“The site sits within the setting of St Michael’s Church, this is an important part of the local area and its tower is a significant feature in the townscape. Proposals will need to maintain the prominence of this feature and blend into the surrounding townscape when viewed from afar.”

The planning documents emphasise that the proposed apartment blocks remain subordinate in height to the hotel, sitting “comfortably” beneath its roofline.

“The massing of these blocks is restrained and set back from the cliff edge to allow for the views into the site to be maintained and enhanced.”