14 h. ago ‘Nonsense and stupid’: Trump’s tariff war will cause global damage, says Grosvenor boss

Policy will eventually right itself, adds Mark Preston, who heads Duke of Westminster’s property groupDonald Trump’s global tariff trade war is “nonsense and stupid” and will damage every country in the world, including the US, the boss of one of Britain’s most powerful property companies has said.Mark Preston, chief executive of the 348-year-old Grosvenor Group, controlled by the Duke of Westminster, said he was “convinced” that the president’s sweeping tariff policies would ultimately be removed. Continue reading...

Events

16 h. ago Trump’s tariff war will cause global damage, says Grosvenor boss

‘Nonsense’ policy will eventually right itself, adds Mark Preston, who heads Duke of Westminster’s property groupDonald Trump’s global tariff trade war is “nonsense and stupid” and will damage every country in the world, including the US, the boss of one of Britain’s most powerful property companies has said.Mark Preston, chief executive of the 348-year-old Grosvenor Group, controlled by the Duke of Westminster, said he was “convinced” that the president’s sweeping tariff policies would ultimately be removed. Continue reading...

Events

29 h. ago King Charles fires warning shot to Donald Trump amid Canada threats

King Charles has delivered a historic speech at the state opening of parliament in Canada amid the country receiving unwanted attention from Donald Trump, who has launched a trade war against his neighbour and made threats to annex the country as America’s 51st state

Events

30 h. ago IMF lifts UK growth forecast for 2025; markets welcome US delay to EU 50% tariffs – as it happened

Rolling coverage of the latest economic and financial news, as IMF releases latest healthcheck on UK economyRachel Reeves should ease fiscal rules to prevent emergency spending cuts, IMF saysEU hopes for quick deal to resolve US trade war after Trump delays 50% tariffsToyota to move some GR Corolla production to UK from JapanOuch! Germany’s economy is on track for its worst performance in post-war history, a new report shows.The German Chamber of Commerce and Industry (DIHK) predicted this morning that Europe’s largest economy will contract by 0.3% this year, Reuters reports. That would be the third annual contraction in a row, although not as bad as the 0.5% fall in GDP which the DIHK predicted back in February.“A mood of cautious relief is spreading after the long weekend, amid hopes for more fruitful trade negotiations between the United States and its global partners. There are no post bank holiday blues for the London market, with the Footsie in striking distance of the record ...

Economics

33 h. ago IMF lifts UK growth forecast for 2025; markets welcome US delay to EU 50% tariffs – business live

Rolling coverage of the latest economic and financial news, as IMF releases latest healthcheck on UK economyRachel Reeves should ease fiscal rules to prevent emergency spending cuts, IMF saysEU hopes for quick deal to resolve US trade war after Trump delays 50% tariffsToyota to move some GR Corolla production to UK from JapanOuch! Germany’s economy is on track for its worst performance in post-war history, a new report shows.The German Chamber of Commerce and Industry (DIHK) predicted this morning that Europe’s largest economy will contract by 0.3% this year, Reuters reports. That would be the third annual contraction in a row, although not as bad as the 0.5% fall in GDP which the DIHK predicted back in February.“A mood of cautious relief is spreading after the long weekend, amid hopes for more fruitful trade negotiations between the United States and its global partners. There are no post bank holiday blues for the London market, with the Footsie in striking distance of the record ...

Economics

34 h. ago Trump’s trade war endangering US supply of Orthodox Jewish hats from 140

A Spanish hatmaker has said higher EU tariffs would be "dramatic" for their business

Politics

35 h. ago UK retail confidence plummets as sales fall; markets welcome US delay to EU 50% tariffs – business live

Rolling coverage of the latest economic and financial newsEU hopes for quick deal to resolve US trade war after Trump delays 50% tariffsToyota to move some GR Corolla production to UK from JapanOuch! Germany’s economy is on track for its worst performance in post-war history, a new report shows.The German Chamber of Commerce and Industry (DIHK) predicted this morning that Europe’s largest economy will contract by 0.3% this year, Reuters reports. That would be the third annual contraction in a row, although not as bad as the 0.5% fall in GDP which the DIHK predicted back in February.“A mood of cautious relief is spreading after the long weekend, amid hopes for more fruitful trade negotiations between the United States and its global partners. There are no post bank holiday blues for the London market, with the Footsie in striking distance of the record high reached in February. More positive vibes are pulsing about the outlook for the global economy, with hopes that more scores can b...

Economics

38 h. ago Tesla sales halve in Europe; markets welcome US delay to EU 50% tariffs – business live

Rolling coverage of the latest economic and financial newsEU hopes for quick deal to resolve US trade war after Trump delays 50% tariffsStocks have jumped in London as trading resumes after the Bank Holiday weekend.City investors are relieved that Donald Trump has delayed his threatened hike on EU tariffs to 50% until July, cooling trade war fears. Continue reading...

Economics

52 h. ago EU hopes for speedy deal to resolve US trade war after Trump delays 50% tariffs

European leaders call for ‘lowest possible’ border taxes after levies postponed from 1 June to 9 JulyEU leaders have expressed hopes of a speedy deal to resolve the trade war with the US after Donald Trump announced he was delaying his threatened 50% tariffs for the bloc until 9 July.The US president said on Sunday that he would pause the border tax due to be imposed on 1 June, which he had only announced two days earlier, after what he called a “very nice call” with the head of the EU executive, Ursula von der Leyen. Continue reading...

Economics

52 h. ago EU hopes for quick deal to resolve US trade war after Trump delays 50% tariffs

European leaders call for ‘lowest possible’ border taxes after levies postponed from 1 June to 9 JulyEU leaders have expressed hopes for a quick deal to resolve the trade war with the US after Donald Trump announced he was delaying his threatened 50% tariffs for the bloc until 9 July.The US president said on Sunday he would pause the border tax due to be imposed on 1 June, which he had announced two days earlier, after what he called a “very nice call” with Ursula von der Leyen. Continue reading...

Economics

4 d. ago Trump makes risky bet by rekindling his trade war with the EU

US president has shifted the focus of his offensive from Beijing to Brussels

Events

5 d. ago European markets suffer losses after Trump ‘recommends’ 50% tariff on EU, and threatens Apple with 25% tariff – business live

US president Donald Trump reignites trade war with threat to impose high tariffs on European goods, and Apple iPhones made overseasTrump says he is hitting EU with 50% tariff as trade talks are ‘going nowhere’As well as cutting UK energy costs (see earlier), Donald Trump can also take credit for growing the German economy!New GDP data this morning shows that Germany’s GDP rose by 0.4% in January-March, twice as fast as the first estimate of 0.2% growth in the quarter.“The reason for the slightly higher growth compared to the initial estimate was the surprisingly positive economic development in March.”“In particular, production in the manufacturing sector and exports performed better than initially expected.The German economy had its best quarterly performance since the third quarter of 2022, and the reason for it seems to be Donald Trump. As a result of the announced tariffs and in anticipation of ‘Liberation Day,’ German industrial production and exports surged in March.Net export...

Economics

5 d. ago Stock markets plunge after Trump reignites trade war risk with threat of 50% tax on EU goods

US president’s fresh plan wipes billions off shares in UK, US, France, Germany Spain and Italy

Events

5 d. ago Markets tank as Trump moves to impose crippling 50% tariff on Europe

Donald Trump is threatening new crippling tariffs on the European Union after trade negotiations have gone south.

Politics

5 d. ago Trump launches crippling tariffs on 'very difficult' Europe in new trade war escalation

Donald Trump is threatening new crippling tariffs on the European Union after trade negotiations have gone south.

Politics

5 d. ago Trump ‘recommending’ 50% tariff on EU, and threatens Apple with 25% tariff – business live

US president Donald Trump reignites trade war with threat to impose high tariffs on European goods, and Apple iPhones made overseasTypical energy bill in Great Britain to fall 7% to £1,720 a year from JulyAs well as cutting UK energy costs (see earlier), Donald Trump can also take credit for growing the German economy!New GDP data this morning shows that Germany’s GDP rose by 0.4% in January-March, twice as fast as the first estimate of 0.2% growth in the quarter.“The reason for the slightly higher growth compared to the initial estimate was the surprisingly positive economic development in March.”“In particular, production in the manufacturing sector and exports performed better than initially expected.The German economy had its best quarterly performance since the third quarter of 2022, and the reason for it seems to be Donald Trump. As a result of the announced tariffs and in anticipation of ‘Liberation Day,’ German industrial production and exports surged in March.Net exports an...

Politics

6 d. ago G7 ministers threaten more sanctions against Russia over Ukraine war

Summit makes little progress on how to respond to Donald Trump’s trade war

Politics

9 d. ago Eurozone growth forecasts cut amid uncertainty over Trump trade war

Tariffs impact demands ‘considerable downgrade’, to 0.9% this year and 1.4% in 2026, says European CommissionBusiness live – latest updatesThe European Commission has cut its growth forecasts for the eurozone this year and next as a result of uncertainty caused by Donald Trump’s tariff wars.The commission said the impact of tariffs demanded a “considerable downgrade” to the expected growth this year of the 20-member eurozone to 0.9% from the previous forecast, made in November, of 1.3%. Continue reading...

Politics

1 week ago US consumer sentiment slides to lowest in 3 years as trade war raises anxiety about inflation

U.S. consumer sentiment fell slightly in May for the fifth straight month as Americans increasingly worry that President Donald Trump’s trade war will worsen inflation

Economics

1 week ago Trump’s trade war risks US capital flight, warns hedge fund Elliott

Tariff policies could cause ‘enormous’ damage, $73bn firm says in letter to investors

Events