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FOOD and agriculture will not be on the table in any trade deal talks with the US, the Business Secretary has said. Jonathan Reynolds was yesterday trying to reset relations with businesses reeling from the Budget’s £25billion tax raid and fears of a tariff war with America . Firms say they will have to freeze hiring and investment decisions , put up prices and potentially cut jobs . In an interview with The Sun, Mr Reynolds agreed that business confidence had taken a knock and said he knew “there’s been pain in that”. Labour had styled itself as a pro-business, pro-growth government, but the Budget watchdog has said growth will be lower in five years’ time. Mr Reynolds said: “In the short term it is a challenging position, but I have absolutely no doubt the UK is going to be one of the most attractive economies in the G7 . READ MORE BUSINESS NEWS “We are committed to openness, to improving our relationship with the EU and the rest of the world, to political stability and using our mandate to make longer term changes, which the country desperately needs”. Economic figures released yesterday show factory bosses are tearing up their budgets and output has slumped to a nine-month low. S&P Global market intelligence said that manufacturing firms “of all sizes are experiencing a downturn” due to increasing labour costs and “increased global tensions and protectionism”. Mr Reynolds said he wanted to talk to the US about trade opportunities “on services and technology”. Most read in Business But when asked whether Labour would risk irritating farmers further with a trade deal on food he said: “I don’t think there is any desire from consumers in the UK to change our food and agriculture standards.” Previous US trade talks have broken down over imports of chlorine-washed chicken and hormone-injected beef. Mr Reynolds added that the UK was a “much more globally orientated trading economy than the US” and pointed out that the EU accounts for £800billion of bilateral trade compared to £350billion with the States. He said: “We’ll be hard-headed about our national interest.” The Business Secretary met with small business owners in Walthamstow, North London , yesterday to launch the government’s Fair Payment Code to help employers. The bosses were also told that councils would be given powers to auction derelict high street properties. Mr Reynolds said: “The physical presence of businesses in the high street is fundamental to the prosperity of a town.” Nell gets revenge AN American ex-social care worker is launching a British £50million investment fund “for the people”. Venture capitalist Nell Daly said Revenge Capital is aimed at female and minority entrepreneurs who had “been discriminated against and weren’t well-networked with access to Silicon Valley ”. Ms Daly said she set up the firm in London after realising she needed to be in “be in control of the money” to make a difference. She found figures that less than 2 per cent of capital goes to female founders. The fund, which is backed by Mayfair Associates, has already invested in firms including Pimentae, a canned margarita cocktail brand, and Glassette, an online homeware marketplace owned by TV presenter Laura Jackson. Ms Daly said that the fund would help people make “f*** you money”. CINEMA blockbusters Paddington in Peru, Gladiator 2 and Wicked pushed entertainment spending up by 10.8 per cent last month, according to Barclaycard. The cold snap also prompted a 10.6 per cent rise in spending on airline trips abroad. But overall card spending slipped by 0.5 per cent, with spending on essential goods purchases down by 3.1 per cent as Brits prepared for a pre-Christmas splurge on gifts. Supreme rescues Typhoo A DISPOSABLE vape maker yesterday confirmed it had rescued Typhoo Tea , one of Britain’s oldest tea brands, in a £10million deal. London-listed Supreme yesterday said that it would pay a total £10.2million to buy Typhoo in a deal that includes stock and debts of £7.5million. The deal comes just days after Typhoo tumbled into administration after years of slumping sales, mounting debts and disruption caused by a break-in at its factory in the Wirral last year. Typhoo, which was founded in 1903, made £20million in sales last year but a loss of £4.6million. Supreme revealed that Typhoo is the tea of choice for the Ministry of Defence and the NHS . Supreme, which distributes Elfbar vapes , was motivated to diversify away from vapes ahead of a planned government crackdown on disposable vapes. It bought a soft drinks business earlier this year. Topps-y turvy TOPPS TILES yesterday hit back against an attack from its largest shareholder which accused management of making “costly blunders”. MS Galleon, which owns a 30 per cent stake in the London-listed flooring firm, accused the business of a “complete failure to adapt to an evolving retail landscape”. Topps responded with a statement insisting that it was “consistently outperforming the wider market”. Shares were flat yesterday after losing 18 per cent of their value in the year to date. DEFENCE giant BAE is recruiting more than 2,400 new apprentices and undergraduate roles next year to have a record 6,500 people in training. BAE said the £230million investment will take its spending on training to £1billion since the start of the decade. Boss Vaux off THE boss behind last week’s shock closure of Vauxhall's Luton factory has abruptly left the car giant after a boardroom row. Stellantis confirmed that Carlos Tavares was exiting the business a year before his scheduled retirement and alluded to a rift between him and the group’s board and family shareholders. READ MORE SUN STORIES He has also been aggressive in threatening governments that he would shut factories unless they water down electric car mandates. The firm employs 1,100 in Bedfordshire .

By RANDALL CHASE, Associated Press DOVER, Del. (AP) — A Delaware judge has reaffirmed her ruling that Tesla must revoke Elon Musk’s multibillion-dollar pay package Chancellor Kathaleen St. Jude McCormick on Monday denied a request by attorneys for Musk and Tesla’s corporate directors to vacate her ruling earlier this year requiring the company to rescind the unprecedented pay package. McCormick also rejected an equally unprecedented and massive fee request by plaintiff attorneys , who argued that they were entitled to legal fees in the form of Tesla stock valued at more than $5 billion. The judge said the attorneys were entitled to a fee award of $345 million. The rulings came in a lawsuit filed by a Tesla stockholder who challenged Musk’s 2018 compensation package. McCormick concluded in January that Musk engineered the landmark pay package in sham negotiations with directors who were not independent. The compensation package initially carried a potential maximum value of about $56 billion, but that sum has fluctuated over the years based on Tesla’s stock price.After receiving reports of dozens of avalanches from popular backcountry areas across the state, Colorado avalanche officials are warning that conditions are trending toward a difficult-to-predict persistent slab problem. State avalanche officials lifted a special avalanche advisory Sunday night, Dec. 1, that had been put in place after a snowstorm dumped more than 2 feet of snow on parts of the Colorado Rocky Mountains ahead of Thanksgiving . But the Colorado Avalanche Information Center wrote in its forecast Monday, Dec. 2, that avalanche danger remains moderate to considerable throughout most of the state, including the northern mountain region. “You can trigger deadly avalanches nearly anywhere in the region,” Colorado avalanche officials wrote in the northern mountain forecast . In recent days, backcountry observers have reported avalanches at Loveland Pass , Berthoud Pass , Bald Mountain near Breckenridge and other popular backcountry spots. Since Thanksgiving on Thursday, Nov. 28, the Colorado Avalanche Information Center has received nearly 20 field reports detailing avalanches in the Vail and Summit County region and more than 15 reports of avalanches on the Front Range. On Nov. 30, backcountry skiers triggered a small avalanche on Loveland Pass on an east-facing slope near the tree line, according to the Colorado Avalanche Information Center. The skiers reportedly did not observe any cracking or collapsing in the area before the avalanche. Avalanche officials said that this demonstrates that just because a slope doesn’t give obvious signs of instability, doesn’t mean it won’t avalanche. “As we move further away from the storm, avalanches will become more difficult to trigger, but also more difficult to predict,” Colorado avalanche officials wrote in a social media post Sunday, Dec. 1. “The avalanche conditions are headed towards the always scary lower-likelihood, higher-consequence setup with a Persistent Slab avalanche problem across most of the state.” Persistent slab avalanches are responsible for most avalanche accidents, including about two thirds of all avalanche fatalities in Colorado . A persistent slab problem forms when a persistent weak layer is buried by additional layers of snow, according to the Colorado Avalanche Information Center. These types of avalanches can be difficult to predict because they can occur days, weeks or months after the initial avalanche cycle. In the Flat Tops, Front Range and eastern Summit County, basal weak layers are the primary weak layer of concern because if a slide breaks in these deeper weak layers, it is likely to propagate and become a larger avalanche, the avalanche forecast states. This avalanche problem started way back when late October and early November storms dropped snow that then faceted on shady aspects and melted off sunny aspects, according to the Colorado Avalanche Information Center. Northerly and easterly aspects that held the most of this preserved snow are reportedly the most hazardous. The 2-3 feet of snow received last week is now connecting terrain that previously wasn’t connected, and there have been reports of large avalanches connecting whole bowls and wrapping around terrain features, the avalanche forecast states. There have also been reports of avalanches triggered from a distance and from below. While persistent slab avalanches pose the larger hazard, there have also been reports of wind slab avalanches in the northern mountains, according to the Colorado Avalanche Information Center. In general, Colorado avalanche officials advise backcountry travelers to stick to slopes less than about 30 degrees that are sheltered from the wind. Avalanche danger could decrease to moderate in place throughout the week, but the hard-to-predict persistent slab problem will remain a danger, according to the Colorado Avalanche Information Center. The most up-to-date avalanche forecast can be found at Avalanche.state.co.us . “The bottom line is that you need to keep making conservative decisions,” Colorado avalanche officials wrote in the forecast. “Make sure you aren’t traveling below overhead hazards and be extra cautious about the slopes you commit to.”