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00:00Hello and welcome to the latest Business Bulletin on Monday the 31st of March.
00:05UK businesses face higher costs from tomorrow as higher wages and tax increases come into
00:10force.
00:11A raft of measures linked to the Labour government's first budget start tomorrow, including a rise
00:15in the national minimum wage and higher property tax payments.
00:19This will be followed by changes to national insurance contributions from Saturday.
00:24The boss of Primark has resigned after an allegation over his behaviour towards a woman
00:28in a social environment.
00:29Primark's parent firm, Associated British Foods, said Paul Marchant has stepped down
00:34with immediate effect.
00:35It follows an investigation into the incident.
00:38Sakhir Starmer and Donald Trump have had productive negotiations towards an economic deal.
00:43They've agreed discussions will continue at pace in a phone call on Sunday night.
00:47The UK is trying to negotiate an exemption from tariffs on imports into the US.
00:52On tariffs, stock markets in Asia fell on Monday after Trump suggested his new measures
00:56will hit all countries, not just those that have the biggest trade imbalances with the
01:01US.
01:02He's preparing to unveil a series of new import taxes on Wednesday.
01:05The measures will be on top of tariffs already imposed on aluminium, steel and vehicles and
01:10those imposed on China.
01:12Vauxhall's van-making factory in Luton closed on Friday.
01:16Parent company Stellantis will now transfer machinery and process knowledge to its plant
01:20in Ellesmere Port.
01:22They announced the closure in November last year, putting 1,100 jobs at risk.
01:27And Thames Water has chosen private equity giant Kohlberg Kravis Roberts as its preferred
01:31bidder.
01:32The troubled utility is looking to secure a buyer to help stabilise its finances.
01:36KKR will now go through to a second phase of the process.
01:40That's all for today.
01:41More tomorrow.