Tom Saunders
@tomjss.bsky.social
Business reporter at The Times, specialising in trade. One of MHP's "30 to watch" young journalist Gold winners 2024
Honoured to have won the European Parliament's Daphne Caruana Galizia Prize for Journalism with @jamesdhurley.bsky.social and 13 other newsrooms across Europe.
Our investigation looked at former owners of ships now in the Russian Shadow Fleet.
www.europarl.europa.eu/news/en/pres...
Our investigation looked at former owners of ships now in the Russian Shadow Fleet.
www.europarl.europa.eu/news/en/pres...
Russian shadow fleet investigation wins Daphne Caruana Galizia Journalism Prize | News | European Parliament
On Tuesday, Follow the Money won the 2025 Daphne Caruana Galizia Prize for Journalism for exposing the hidden financial networks enabling Russia’s sanction-evading oil trade.
www.europarl.europa.eu
October 22, 2025 at 9:13 AM
Honoured to have won the European Parliament's Daphne Caruana Galizia Prize for Journalism with @jamesdhurley.bsky.social and 13 other newsrooms across Europe.
Our investigation looked at former owners of ships now in the Russian Shadow Fleet.
www.europarl.europa.eu/news/en/pres...
Our investigation looked at former owners of ships now in the Russian Shadow Fleet.
www.europarl.europa.eu/news/en/pres...
EXC: The Treasury opposed government plans to force a Chinese company to sell its stake in a UK chipmaker on national security grounds.
With @georgegreenwood.bsky.social
www.thetimes.com/business-mon...
With @georgegreenwood.bsky.social
www.thetimes.com/business-mon...
Treasury opposed forced sale of China’s stake in UK chipmaker
Court filings reveal it was the only government department against the divestment of Future Technology Devices International, which had sold chips to Russia
www.thetimes.com
October 20, 2025 at 1:44 PM
EXC: The Treasury opposed government plans to force a Chinese company to sell its stake in a UK chipmaker on national security grounds.
With @georgegreenwood.bsky.social
www.thetimes.com/business-mon...
With @georgegreenwood.bsky.social
www.thetimes.com/business-mon...
More than three-quarters of the FTSE 100 and a similar proportion of the FTSE 250 make their shares available to US investors by cross-trading them on OTC Markets, known primarily for owning the so-called "pink sheets" in the US.
www.thetimes.com/article/b553...
www.thetimes.com/article/b553...
Why UK-listed companies are flocking to the US ‘pink sheet’ exchange
In an attempt to receive more international exposure, more than three quarters of the FTSE 100 are now cross-trading on OTC Markets
www.thetimes.com
October 13, 2025 at 1:11 PM
More than three-quarters of the FTSE 100 and a similar proportion of the FTSE 250 make their shares available to US investors by cross-trading them on OTC Markets, known primarily for owning the so-called "pink sheets" in the US.
www.thetimes.com/article/b553...
www.thetimes.com/article/b553...
Honoured to have been shortlisted for the Daphne Caruana Prize for Journalism with @jamesdhurley.bsky.social and journalists at 13 other newsrooms for our collective investigation into the former owners of ships in the Russian Shadow Fleet.
daphnejournalismprize.eu/edition-2025...
daphnejournalismprize.eu/edition-2025...
Finalists 2025 – Daphne Caruana Galizia
daphnejournalismprize.eu
October 3, 2025 at 1:19 PM
Honoured to have been shortlisted for the Daphne Caruana Prize for Journalism with @jamesdhurley.bsky.social and journalists at 13 other newsrooms for our collective investigation into the former owners of ships in the Russian Shadow Fleet.
daphnejournalismprize.eu/edition-2025...
daphnejournalismprize.eu/edition-2025...
EXC: The US has collected $1.36 bn in tariffs from imports of British products between April and July this year, according to US gov estimates.
That's ~ 6x the same period in 2024, and means British exports faced the 12th-highest level of duties of any country.
www.thetimes.com/business-mon...
That's ~ 6x the same period in 2024, and means British exports faced the 12th-highest level of duties of any country.
www.thetimes.com/business-mon...
US collects $1.36bn in tariffs on British goods
The amount is six times more than the previous year and suggests UK manufacturers are being squeezed hard by the effects of President Trump’s duties
www.thetimes.com
September 22, 2025 at 10:41 AM
EXC: The US has collected $1.36 bn in tariffs from imports of British products between April and July this year, according to US gov estimates.
That's ~ 6x the same period in 2024, and means British exports faced the 12th-highest level of duties of any country.
www.thetimes.com/business-mon...
That's ~ 6x the same period in 2024, and means British exports faced the 12th-highest level of duties of any country.
www.thetimes.com/business-mon...
Nothing - the London-headquartered smartphone company - has raised $200 million at a valuation of $1.3 billion.
No small feat for a company operating in an industry dominated by a small number of major players.
www.thetimes.com/article/584b...
No small feat for a company operating in an industry dominated by a small number of major players.
www.thetimes.com/article/584b...
UK smartphone company Nothing valued at $1.3bn after fundraising
The company’s co-founder Carl Pei plans to increase investment in artificial intelligence products
www.thetimes.com
September 16, 2025 at 8:30 AM
Nothing - the London-headquartered smartphone company - has raised $200 million at a valuation of $1.3 billion.
No small feat for a company operating in an industry dominated by a small number of major players.
www.thetimes.com/article/584b...
No small feat for a company operating in an industry dominated by a small number of major players.
www.thetimes.com/article/584b...
While Trump has raised tariffs to levels not seen in a century, his administration appears to be struggling to enforce them - 🧵
www.thetimes.com/business-mon...
www.thetimes.com/business-mon...
US tariff collection falls short as implementation issues bite
Revenue falls short of projections, with Oxford Economics reporting a significant gap between expected duties and those collected
www.thetimes.com
August 18, 2025 at 1:53 PM
While Trump has raised tariffs to levels not seen in a century, his administration appears to be struggling to enforce them - 🧵
www.thetimes.com/business-mon...
www.thetimes.com/business-mon...
Interesting Calastone figs:
* North America-focused equity funds saw net outflows of £330mn in July, the first outflow since October 2024.
* Global equity funds (which are 60-70% US weighted) saw their second consecutive month of outflows, first time in Calastone's 10-year records.
* North America-focused equity funds saw net outflows of £330mn in July, the first outflow since October 2024.
* Global equity funds (which are 60-70% US weighted) saw their second consecutive month of outflows, first time in Calastone's 10-year records.
August 6, 2025 at 8:36 AM
Interesting Calastone figs:
* North America-focused equity funds saw net outflows of £330mn in July, the first outflow since October 2024.
* Global equity funds (which are 60-70% US weighted) saw their second consecutive month of outflows, first time in Calastone's 10-year records.
* North America-focused equity funds saw net outflows of £330mn in July, the first outflow since October 2024.
* Global equity funds (which are 60-70% US weighted) saw their second consecutive month of outflows, first time in Calastone's 10-year records.
In less than a month's time, the de minimis exemption will end for any business exporting to the US. I spoke to businesses in the UK about what it means for them:
www.thetimes.com/article/b8bd...
www.thetimes.com/article/b8bd...
Tariffs D-Day now just weeks away for Etsy export crew
President Trump is closing the loophole that allows small businesses to send shipments to the US without paying duty — and he is doing it sooner than expected
www.thetimes.com
August 5, 2025 at 10:22 AM
In less than a month's time, the de minimis exemption will end for any business exporting to the US. I spoke to businesses in the UK about what it means for them:
www.thetimes.com/article/b8bd...
www.thetimes.com/article/b8bd...
European semiconductor businesses were among the few clear beneficiaries of yesterday's trade deal between the EU and US as much of their exports will be exempt from tariffs.
On the other hand, EU spirit makers failed to secure an exemption, at least initially:
www.thetimes.com/article/bde6...
On the other hand, EU spirit makers failed to secure an exemption, at least initially:
www.thetimes.com/article/bde6...
Trump’s tariffs are still too high, EU businesses warn
Europe’s trade deal with the US has winners and losers, but as one leader put it, ‘When you’re expecting a hurricane, you’re grateful for a storm’
www.thetimes.com
July 29, 2025 at 10:29 AM
European semiconductor businesses were among the few clear beneficiaries of yesterday's trade deal between the EU and US as much of their exports will be exempt from tariffs.
On the other hand, EU spirit makers failed to secure an exemption, at least initially:
www.thetimes.com/article/bde6...
On the other hand, EU spirit makers failed to secure an exemption, at least initially:
www.thetimes.com/article/bde6...
Earlier this year, a cross-department raid on company formation agents led to 11.5K companies being struck off Companies House
One agent registered ~5K firms at a single address in London. Most of which were based elsewhere in the UK, or not in the country at all
www.thetimes.com/business-mon...
One agent registered ~5K firms at a single address in London. Most of which were based elsewhere in the UK, or not in the country at all
www.thetimes.com/business-mon...
Thousands of firms struck off Companies House register in crackdown
Police and regulators using new powers to act against economic crime
www.thetimes.com
July 17, 2025 at 8:44 AM
Earlier this year, a cross-department raid on company formation agents led to 11.5K companies being struck off Companies House
One agent registered ~5K firms at a single address in London. Most of which were based elsewhere in the UK, or not in the country at all
www.thetimes.com/business-mon...
One agent registered ~5K firms at a single address in London. Most of which were based elsewhere in the UK, or not in the country at all
www.thetimes.com/business-mon...
The FTSE 100 broke 9,000 words today, then closed below it - but I wrote 1,000 words about it anyway.
Interesting point - since 2019, defence companies have risen from 7% to 11% of the FTSE 100. Over that same period, energy companies have fallen from 19% to 11%.
www.thetimes.com/business-mon...
Interesting point - since 2019, defence companies have risen from 7% to 11% of the FTSE 100. Over that same period, energy companies have fallen from 19% to 11%.
www.thetimes.com/business-mon...
FTSE 100 breaks 9,000 milestone
Blue-chip index is outperforming global indices as a safe haven from global volatility
www.thetimes.com
July 15, 2025 at 6:30 PM
The FTSE 100 broke 9,000 words today, then closed below it - but I wrote 1,000 words about it anyway.
Interesting point - since 2019, defence companies have risen from 7% to 11% of the FTSE 100. Over that same period, energy companies have fallen from 19% to 11%.
www.thetimes.com/business-mon...
Interesting point - since 2019, defence companies have risen from 7% to 11% of the FTSE 100. Over that same period, energy companies have fallen from 19% to 11%.
www.thetimes.com/business-mon...
EXC: At least 7 vessels exported Iranian oil or related products while holding British insurance from two British shipping insurers.
www.thetimes.com/business-mon...
www.thetimes.com/business-mon...
UK shipping insurers are caught in Iran oil sanctions grey zone
Conflicting US and British rules pose a headache for firms trying to keep up with regulations meant to curb Iran’s shadow fleet
www.thetimes.com
July 7, 2025 at 5:49 PM
EXC: At least 7 vessels exported Iranian oil or related products while holding British insurance from two British shipping insurers.
www.thetimes.com/business-mon...
www.thetimes.com/business-mon...
The number of entry-level jobs has fallen by nearly a third since ChatGPT was introduced in Nov 2022
More importantly, the share of vacancies which are entry level has shrunk over that same period to just 25%, suggesting AI is having a unique effect on grad jobs
www.thetimes.com/business-mon...
More importantly, the share of vacancies which are entry level has shrunk over that same period to just 25%, suggesting AI is having a unique effect on grad jobs
www.thetimes.com/business-mon...
Entry-level jobs plunge by a third since launch of ChatGPT
Retail, IT and accounting and finance are among the worst hit sectors since the AI tool began operating in November 2022
www.thetimes.com
June 30, 2025 at 2:34 PM
The number of entry-level jobs has fallen by nearly a third since ChatGPT was introduced in Nov 2022
More importantly, the share of vacancies which are entry level has shrunk over that same period to just 25%, suggesting AI is having a unique effect on grad jobs
www.thetimes.com/business-mon...
More importantly, the share of vacancies which are entry level has shrunk over that same period to just 25%, suggesting AI is having a unique effect on grad jobs
www.thetimes.com/business-mon...
UK plc have been disappearing from the world's largest trade fairs.
Pre-pandemic, UK biz were the 2nd largest exhibitors at Drinktec with c 100 companies attending. This year, just 25 will go.
The disappearance has become so noticeable that even the CEO of CES commented on it earlier this year.
Pre-pandemic, UK biz were the 2nd largest exhibitors at Drinktec with c 100 companies attending. This year, just 25 will go.
The disappearance has become so noticeable that even the CEO of CES commented on it earlier this year.
June 16, 2025 at 2:36 PM
UK plc have been disappearing from the world's largest trade fairs.
Pre-pandemic, UK biz were the 2nd largest exhibitors at Drinktec with c 100 companies attending. This year, just 25 will go.
The disappearance has become so noticeable that even the CEO of CES commented on it earlier this year.
Pre-pandemic, UK biz were the 2nd largest exhibitors at Drinktec with c 100 companies attending. This year, just 25 will go.
The disappearance has become so noticeable that even the CEO of CES commented on it earlier this year.
Richard Caring has apologised after his restaurant empire sent a letter to suppliers demanding a 2.5 per cent "discount" on bills due to the "current increased cost of trading".
Caring told The Times that the letter (attached) had been sent in error and was "totally incorrect".
Caring told The Times that the letter (attached) had been sent in error and was "totally incorrect".
June 15, 2025 at 5:59 PM
Richard Caring has apologised after his restaurant empire sent a letter to suppliers demanding a 2.5 per cent "discount" on bills due to the "current increased cost of trading".
Caring told The Times that the letter (attached) had been sent in error and was "totally incorrect".
Caring told The Times that the letter (attached) had been sent in error and was "totally incorrect".
Almost all artificial intelligence models are based on the principle of neural networks, a computational model inspired by the human brain.
However, are there other, more efficient ways of building AI models? One start-up spun out of Newcastle University thinks so:
www.thetimes.com/article/d34d...
However, are there other, more efficient ways of building AI models? One start-up spun out of Newcastle University thinks so:
www.thetimes.com/article/d34d...
Northern Gritstone leads funding for energy-efficient AI start-up
Literal Labs, spun out of Newcastle University, offers an alternative approach to machine learning
www.thetimes.com
June 2, 2025 at 8:55 AM
Almost all artificial intelligence models are based on the principle of neural networks, a computational model inspired by the human brain.
However, are there other, more efficient ways of building AI models? One start-up spun out of Newcastle University thinks so:
www.thetimes.com/article/d34d...
However, are there other, more efficient ways of building AI models? One start-up spun out of Newcastle University thinks so:
www.thetimes.com/article/d34d...
Looks like the UK's tariff rate will be 10%, according to the poster Trump is holding up at his press conference.
It looks like tariff rates are discounted by 50% though a global minimum of 10%
It looks like tariff rates are discounted by 50% though a global minimum of 10%
April 2, 2025 at 8:30 PM
Looks like the UK's tariff rate will be 10%, according to the poster Trump is holding up at his press conference.
It looks like tariff rates are discounted by 50% though a global minimum of 10%
It looks like tariff rates are discounted by 50% though a global minimum of 10%
Among the products facing duties as a result of Trump's steel and aluminium tariffs - fancy ovens and farm equipment.
Various estimates have put the amount of UK steel and aluminium product exports affected by the tariffs at ~ $3bn. Read more here:
www.thetimes.com/article/e6c9...
Various estimates have put the amount of UK steel and aluminium product exports affected by the tariffs at ~ $3bn. Read more here:
www.thetimes.com/article/e6c9...
Donald Trump’s steel tariffs hit UK exports with $3.4bn at risk
New US tariffs threaten $3.4 billion of UK exports to the US. One expert suggests this is a negotiating tactic, but will it work?
www.thetimes.com
March 24, 2025 at 1:18 PM
Among the products facing duties as a result of Trump's steel and aluminium tariffs - fancy ovens and farm equipment.
Various estimates have put the amount of UK steel and aluminium product exports affected by the tariffs at ~ $3bn. Read more here:
www.thetimes.com/article/e6c9...
Various estimates have put the amount of UK steel and aluminium product exports affected by the tariffs at ~ $3bn. Read more here:
www.thetimes.com/article/e6c9...
Spelthorne council, which invested over £1 billion in properties including BP's main campus, is to be taken over by government-appointed commissioners.
I wrote about bad property bets made by the council and three others in London's commuter belt last year.
www.thetimes.com/article/resi...
I wrote about bad property bets made by the council and three others in London's commuter belt last year.
www.thetimes.com/article/resi...
Residents count the £4bn cost of councils’ bad property bets
‘Unsophisticated borrowers’ have left four local authorities in London’s commuter belt owing up to 1,500 per cent of their annual income
www.thetimes.com
March 17, 2025 at 1:03 PM
Spelthorne council, which invested over £1 billion in properties including BP's main campus, is to be taken over by government-appointed commissioners.
I wrote about bad property bets made by the council and three others in London's commuter belt last year.
www.thetimes.com/article/resi...
I wrote about bad property bets made by the council and three others in London's commuter belt last year.
www.thetimes.com/article/resi...
For the first time ever, Rolls-Royce's market cap has surpassed that of BP.
The vast majority of this is down to individual performance.
Though Trump factor - combination of tariffs + European rearmmament likely pushing both over the edge.
The vast majority of this is down to individual performance.
Though Trump factor - combination of tariffs + European rearmmament likely pushing both over the edge.
March 4, 2025 at 5:56 PM
For the first time ever, Rolls-Royce's market cap has surpassed that of BP.
The vast majority of this is down to individual performance.
Though Trump factor - combination of tariffs + European rearmmament likely pushing both over the edge.
The vast majority of this is down to individual performance.
Though Trump factor - combination of tariffs + European rearmmament likely pushing both over the edge.
CCEP is almost guaranteed to join the FTSE 100 at the next reshuffle.
Combined with the other Coca-Cola bottler already in the index, Coca-Cola HBC, it will mean nearly 2% of the entire FTSE 100 market cap is dedicated to bottling or selling Coca-Cola products.
www.thetimes.com/business-mon...
Combined with the other Coca-Cola bottler already in the index, Coca-Cola HBC, it will mean nearly 2% of the entire FTSE 100 market cap is dedicated to bottling or selling Coca-Cola products.
www.thetimes.com/business-mon...
Coca-Cola bottler will add fizz to FTSE 100 in reshuffle
With a market cap of £31.5 billion, CCEP will be one of the biggest companies when it joins the index this week, as Hiscox drops out
www.thetimes.com
March 3, 2025 at 10:27 AM
CCEP is almost guaranteed to join the FTSE 100 at the next reshuffle.
Combined with the other Coca-Cola bottler already in the index, Coca-Cola HBC, it will mean nearly 2% of the entire FTSE 100 market cap is dedicated to bottling or selling Coca-Cola products.
www.thetimes.com/business-mon...
Combined with the other Coca-Cola bottler already in the index, Coca-Cola HBC, it will mean nearly 2% of the entire FTSE 100 market cap is dedicated to bottling or selling Coca-Cola products.
www.thetimes.com/business-mon...
The Times has partnered with Shadow Fleet Secrets, which shows that more than a third of the tankers in the Shadow fleet were previously owned by European and US shipping companies, producing sales of more than $6 billion.
This includes ship owners from the UK:
www.thetimes.com/article/1be0...
This includes ship owners from the UK:
www.thetimes.com/article/1be0...
Russia’s ‘shadow fleet’ fuels lucrative trade in old tankers
Moscow’s use of vessels bought from Britain and the EU for its oil trade is pushing prices up by 60% and raising questions over shipping dangers and sanctions
www.thetimes.com
February 20, 2025 at 10:09 AM
The Times has partnered with Shadow Fleet Secrets, which shows that more than a third of the tankers in the Shadow fleet were previously owned by European and US shipping companies, producing sales of more than $6 billion.
This includes ship owners from the UK:
www.thetimes.com/article/1be0...
This includes ship owners from the UK:
www.thetimes.com/article/1be0...
Reposted by Tom Saunders
Update on Yvegeny Prigozhin's legal case against me - UK law firm that acted for Putin’s warlord Prigozhin 'broke no rules'
democracyforsale.substack.com/p/uk-law-fir...
democracyforsale.substack.com/p/uk-law-fir...
UK law firm that acted for Putin’s warlord Prigozhin 'broke no rules'
Exclusive: Taking cash from a sanctioned Russian mercenary chief to enable him to sue a British journalist is not an abuse of our legal system, solicitors' regulator finds
democracyforsale.substack.com
January 28, 2025 at 8:02 AM
Update on Yvegeny Prigozhin's legal case against me - UK law firm that acted for Putin’s warlord Prigozhin 'broke no rules'
democracyforsale.substack.com/p/uk-law-fir...
democracyforsale.substack.com/p/uk-law-fir...
Reposted by Tom Saunders
Military contractors, weapons-carrying cargo ships, and an enormous Russian military tugboat... @tomjss.bsky.social and I took a look at what Russian ships are up to in British waters
www.thetimes.com/uk/defence/a...
www.thetimes.com/uk/defence/a...
Russian ships seen in UK waters 40 times since 2022 Ukraine invasion
The Yantar, a Russian research and intelligence vessel, passed through British waters this week
www.thetimes.com
January 24, 2025 at 11:59 AM
Military contractors, weapons-carrying cargo ships, and an enormous Russian military tugboat... @tomjss.bsky.social and I took a look at what Russian ships are up to in British waters
www.thetimes.com/uk/defence/a...
www.thetimes.com/uk/defence/a...