49 m. ago Trump unveils first deal since launching trade war with multi

Trump called the deal, which does lift the baseline 10 percent tariff, ‘comprehensive’

Politics

1 hour ago Trump revealing ‘full and comprehensive’ trade deal with UK in first major announcement since starting global trade war

Thursday’s announcement will mark the first major global trade deal since Trump unveiled sweeping tariffs in April

Politics

3 h. ago Interest rates live updates: Bank of England slashes interest rates to 4.25% in boost to homeowners

It marks lowest level for two years as central bank warns escalating global trade war will drag on growth over next three years

Society

4 h. ago UK interest rates fall to 4.25% as Bank of England announces a quarter

Move follows run of downbeat economic data and looks to cushion UK from Trump’s trade war falloutExplainer: what does it mean for mortgages and savings?Analysis: mood-boosting rate cut is a fillip for Reeves but leaves future uncertainBusiness live – latest updatesBank of England policymakers have cut interest rates by a quarter point to 4.25% to cushion the UK economy against the impact of Donald Trump’s trade war.The widely expected move from the Bank’s monetary policy committee (MPC), its fourth cut since last August, also carried a warning that the UK economy would slow by a further 0.3% over the next two years in addition to dramatic cuts to its forecasts earlier this year. Continue reading...

Politics

7 h. ago Maersk boss says upending global trade with tariffs could take decades

Vincent Clerc says changing supply chains fast using trade war is ‘very unrealistic’

Economics

12 h. ago AP PHOTOS: How a Chinese delicacy got caught in the crossfire of Trump's trade war

An escalating trade war with the U.S. is now crippling an entire industry that hand-harvests geoducks, leaving Washington state divers without work, Seattle exporters without business and Chinese aficionados with fewer of these prized clams.

Events

12 h. ago How a Chinese delicacy got caught in the crossfire of Trump's trade war

President Donald Trump’s trade war with China is crippling an entire industry that hand-harvests geoducks

Events

12 h. ago Trump ready to unveil 'major trade deal' with UK after launching tariff wars across the globe

Donald Trump is expected to announce a trade deal between the United States and the United Kingdom on Thursday.

Economics

29 h. ago BMW chief expects lower tariffs as trade war expected to hit profits

Many of BMW's rivals, including Mercedes-Benz MBGn.DE, Ford F.N and Stellantis STLAM.MI, have pulled their 2025 forecasts

Events

30 h. ago China to cut interest rates in response to trade war with US

Half-point cut to be made to banks’ reserve requirement ratio and 1tn yuan released into banking systemBusiness live – latest updatesChina will cut interest rates and inject some much-needed liquidity into the domestic economy, as the country steels itself for a bruising trade war with the US.The People’s Bank of China said on Wednesday it would make a half-point cut to the banks’ reserve requirement ratio, its benchmark interest rate, and release 1tn yuan (£103.6bn) into the banking system. Continue reading...

Events

31 h. ago UK and eurozone construction declines slow; European markets fall ahead of Fed rate decision – business live

People’s Bank of China cuts interest rates due to global uncertainty and ‘trade tensions’Matthew Pointon, senior commercial real estate economist at Capital Economics, said:The commercial balance was at its lowest since the height of the Covid lockdowns in May 2020. Early signs of a recovery in construction activity in late 2024 have therefore been snuffed out. Elevated interest rates will be partly responsible, but uncertainty caused by the US tariff announcements may also be weighing on activity.Admittedly, UK property is relatively well insulated from the impact, and some sectors may even benefit. Construction costs may also ease if materials that had been destined for the US are rerouted to the UK. But the rise in overall economic uncertainty may cause some developers to delay plans until the outlook becomes clearer. Indeed, the new orders balance saw a small fall to 44.0, from 44.2 in March. Continue reading...

Society

36 h. ago China chides US over ‘serious negative impact’ of Trump tariffs as trade talks set to begin

China’s vice-premier He Lifeng will meet US treasury secretary Scott Bessent in Switzerland between 9 and 12 MayChina has vowed to “safeguard international fairness and justice” in upcoming talks with the United States in Switzerland, the first meeting between the two countries to discuss trade war that has roiled the global economy since US president Donald Trump unveiled sweeping tariffs last month.China’s vice-premier He Lifeng will meet US treasury secretary Scott Bessent on the sidelines of meetings in Switzerland between 9 and 12 May. US trade representative Jamieson Greer will also attend. Continue reading...

Politics

38 h. ago China's central bank cuts key interest rate as US tariffs threaten economy

China’s central bank has cut a key interest rate as U.S. tariffs threaten the economy

Economics

44 h. ago Handshakes, friendship and ‘never, never, never, never, never’: five takeaways from Carney

In the much anticipated first encounter, a positive tone held despite the Canadian leader’s rebuff against US advancesPerhaps no world leader can ever be completely sure how an encounter with Donald Trump will play out, but Canada’s Mark Carney had grounds to be especially wary before heading to the White House for his first post-election meeting with the US president.For months now, Trump has waged a campaign of diplomatic and commercial intimidation against his northern neighbour, launching a trade war and belittling Carney’s predecessor Justin Trudeau. Continue reading...

Politics

49 h. ago Trump live: Carney heads to White House to meet president amid bitter trade war

Canadian prime minister’s Oval Office test comes a week after being elected on an anti-Trump platform

Politics

52 h. ago Everything Mark Carney has said about Trump ahead of crucial US

Victorious former central bank governor has united Canadians by attacking American counterpart over his ‘51st state’ rhetoric and trade war aggressions

Politics

54 h. ago UK business activity falls for the first time since October 2023 as trade tensions hurt economy, and car sales slide – business live

Rolling coverage of the latest economic and financial newsTrump’s foreign film tariffs could ‘wipe out’ UK movie industry, ministers toldCar sales across the UK fell by over 10% last month, compared to a year ago.New industry data shows that 120,331 new vehicles were registered in April, 10.4% fewer than in April 2024.In what is traditionally a quieter month following the March plate change, volumes were also impacted by the late timing of Easter, resulting in fewer working days.In addition, the implementation of VED changes affecting all new cars, including the Expensive Car Supplement which became applicable to many new EVs from 1 April, pushed transactions into March as shrewd buyers got ahead of the tax increases. Continue reading...

Economics

55 h. ago UK car sales drop 10% in April; Ford predicts $1.5bn profit hit from Trump tariffs – business live

Rolling coverage of the latest economic and financial newsTrump’s foreign film tariffs could ‘wipe out’ UK movie industry, ministers toldCar sales across the UK fell by over 10% last month, compared to a year ago.New industry data shows that 120,331 new vehicles were registered in April, 10.4% fewer than in April 2024.In what is traditionally a quieter month following the March plate change, volumes were also impacted by the late timing of Easter, resulting in fewer working days.In addition, the implementation of VED changes affecting all new cars, including the Expensive Car Supplement which became applicable to many new EVs from 1 April, pushed transactions into March as shrewd buyers got ahead of the tax increases. Continue reading...

Economics

57 h. ago China’s service sector hit by trade war; Ford predicts $1.5bn profit hit from Trump tariffs – business live

Rolling coverage of the latest economic and financial newsTrump’s foreign film tariffs could ‘wipe out’ UK movie industry, ministers toldAmerican children face paying higher prices for Barbie dolls due to the Trump tariffs on imports.Mattel, the toy manufacturing giant, revealed last night that it plan to raise prices on American toys due to tariffs, and is also looking to move some manufacturing out of China.Accelerating diversification of its supply chain and further reducing reliance on China-sourced product,Optimizing product sourcing and product mix, andWhere necessary, taking pricing action in its U.S. business.In an uncertain macro environment that has intensified due to the potential impact of tariffs, we are focused on what we can control.We are improving our supply chain agility, taking decisive cost actions to mitigate financial impact where possible, and ensuring we can continue to serve our customers and consumers. Continue reading...

Economics

60 h. ago European and UK companies lay bare the pain from Trump’s trade war

Executives warn about the challenges facing businesses and the destabilising effect of prolonged uncertainty

Politics