2 w. ago UK services sector shrinks for first time in 18 months amid tariff worries

The S&P Global UK services PMI survey scored 49.0 in April, down from 52.5 in March.

Politics

3 w. ago US treasury secretary urges Fed chair to cut interest rates as Trump claims shrinking economy isn’t related to tariff war – live

Bessent urges Powell to cut interest rates, echoing Trump’s demands; US president claims economic slowdown ‘nothing to do with tariffs’Trump’s tariffs: ‘It feels like Covid 2.0. So many things are getting disrupted’The Trump administration is seeking to strip collective bargaining rights from large swaths of federal employees in a test case union leaders argue is part of a broader attack on US labor unions that could land before the US Supreme Court.A Trump win would deliver a severe blow to labor unions in the US. Some 29.9% of all federal workers were represented by labor unions in 2024 compared to 11.1% for all US workers. Continue reading...

Society

3 w. ago Trump tries to blame Biden after U.S. economy shrinks amid fears of tariff

President tries to deflect blame to predecessor as new GDP figures show U.S. economy contracted for first time in three years

Politics

3 w. ago Trump blames Biden as US economy shrinks for first time in three years amid tariff fallout

President claims economic downturn has ‘NOTHING TO DO WITH TARIFFS’

Politics

3 w. ago U.S. economy shrinks for first time in three years as Trump’s tariffs spark trade war fears

The American economy shrank by 0.3 percent during the first quarter of this year, marking the first drop in three years as President Donald Trump’s tariff policies disrupted businesses and their supply chains.

Politics

3 w. ago US economy shrinks in first quarter of Trump 2.0 amid sweeping tariffs

Drop comes amid a huge fall in consumer sentiment which in April dropped 32% to lowest level since 1990 recessionThe US economy shrank in the first three months of Donald Trump’s second term as the president sought to roll out an aggressive trade strategy, claiming that sweeping tariffs on the world would strengthen the US economy.Gross domestic product (GDP), a key measure of overall growth in the US economy, fell by 0.3% in the first quarter of the year, down from 2.4% in the last quarter of 2024. The contraction – the first since the start of 2022 – puts the US on the brink of a technical recession, defined by two quarters of negative growth. Continue reading...

Politics

3 w. ago China’s manufacturing activity shrinks as US tariffs take effect

Trade tensions with the Trump administration have cast a cloud on the economy

Economics