12 h. ago China lowers minimum amount for tax refunds for tourists to boost spending

China has lowered the minimum amount tourists spend to get tax refunds as part of measures to boost consumption as its economy comes under pressure during a trade war between Beijing and Washington

Economics

5 d. ago IMF warns of rising US recession risk and defends Fed rate policy

Fund lowers outlook for G7 nations and major economies including China and India as trade conflict hits growth

Events

1 week ago US tariffs bring stalled shipments and uncertainty for Chinese exporters

Exporters at China’s largest trade fair are facing uncertainty, stalled shipments and lower sales forecasts due to the trade war with the United States

Politics

1 week ago Warm weather and Mother’s Day spending gives retailers March boost

Total UK retail sales were up 1.1% year on year in March, despite Easter’s later arrival this year, BRC-KPMG figures show.

Events

2 w. ago Donald Trump is now badly wounded. Europe can seize an advantage | Will Hutton

It’s time to fashion a new global trade order without the USThe game-changing geopolitical event last week was the near collapse of the immense $29tn ­market in US government debt, threatening the stability of the American and global financial system and the safe-haven status of dollar assets.The US president boasted as the collapse unfolded that world leaders were queueing to “kiss his arse”. Twelve hours later, he was in the same humiliatingly weak position as the then British prime minister Liz Truss found herself after her tax-slashing “mini-budget” in 2022. The markets had forced him to pause for 90 days the swingeing range of “reciprocal” tariffs that he announced on what he proclaimed “liberation day”; instead he lowered all of them, bar that on China, to 10%. Continue reading...

Politics

3 w. ago UK and European markets set for more turmoil after Trump’s tariffs unveiled

The Nikkei in Japan tumbled 3% and China’s Hang Seng was around 1.5% lower after Mr Trump’s self-declared ‘liberation day’.

Politics

3 w. ago Lammy to urge allies to boost defence spending to make Nato ‘more lethal’

It comes after the UK announced the largest sustained increase to defence spending since the Cold War.

Politics