Daily business briefing in less than two minutes - March 12

Donald Trump’s tariffs on UK steel and aluminum “couldn’t come at a worse time," according to the industry.
Last ditch attempts to make the US President change his mind on a 25% import tax failed, so the tariffs have come into effect.
The UK Government says it's disappointed isn't unlikely to immediately retaliate, but EU states are proposing major countermeasures start on April the 1st.
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The White House has however halted the planned tariff increase from 25 to 50% on Canadian steel and other metals.
The threat initially caused markets to plummet.
But the Ontario provincial government suspended its planned surcharges on electricity sold to the US, so the tariff increases were paused too.
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UK music streaming sales topped £1 billion last year for the first time.
However, the industry is facing a looming threat from AI copyright plans.
Demand for vinyl also continued to grow last year.
But paid subscriptions to platforms like Spotify, Apple Music and YouTube continued to make up the bulk of revenues.
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Some interesting results today - The Gym Group has swung back to profit after its members increased by 4 per cent.
The company posted a pre-tax profit of £2.5 million, up from an £8.3 million loss the year before.
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And Legal & General has announced a £500 million share buyback.
It's part of its aims to return over £5 billion to shareholders within three years.
The group posted a 6 per cent rise in core operating profits to £1.62 billion for 2024.