3 h. ago Despite US trade war, EOCD expects global economy will grow 3.2% this year

The world economy has proven surprisingly durable in the face of President Donald Trump’s trade wars, the Organization for Economic Cooperation and Development said Tuesday, upgrading its outlook for global and U.S. economic growth this year

Events

63 h. ago China's factory activity contracts for 8th month in November despite trade war truce

China’s factory activity contracted for the eighth straight month in November, according to an official survey on Sunday, underscoring challenges for the country’s economy despite the U.S.-China trade truce

Events

8 d. ago Putin invited back into G8 by Euro leaders if he 'ends war with Ukraine'

BREAKING: In a dramatic twist at the Geneva peace talks, European leaders have stunned the world by offering to invite Vladimir Putin’s Russia back into the G8 and gradually reintegrate Moscow into the global economy

Politics

2 w. ago Reform’s plan to cut EU citizens’ benefits would risk trade war with Europe, Labour claims – UK politics live

As Reform announces what it claims are £25bn in savings through cuts, Labour says ‘Farage’s fantasy numbers don’t add up’ Good morning. Yesterday, as the government announced drastic plans to curb the number of asylum seekers able to stay in the UK, it was accused of adopting the politics of Reform UK, the anti-immigration party with a big lead in the opinion polls. In response, ministers argued that Labour would be doing even worse if it just ignored the legitimate concerns of voters who are supporting Nigel Farage’s party.But, when mainstream parties move on to the territory of the more extreme parties, those parties often respond with a further lurch to the right, and we will see an example of that today. Nigel Farage, the Reform UK leader, is holding a press conference where he is going to announce proposals that cover immigration and the budget (the other huge story preoccupying Westminster politics at the moment). As Peter Walker reports, Farage will propose spending cuts whic...

Events

2 w. ago Japan and Switzerland’s economies contract as exports are hit by US tariffs; Alphabet shares jump after Warren Buffett reveals stake – business live

Rolling coverage of the latest economic and financial newsChina travel warning for Japan sends shares in tourism and retail companies plungingAlthough WPP’s shares have slipped back a little (+3.7%), they’re still leading the FTSE 100 risers.AJ Bell investment director Russ Mould sums up the situation:“Executives at embattled advertising agency WPP have recently been snapping up shares in the company and it seems they may not be the only ones who see value in the business. There is speculation about a bid from French rival Havas and private equity firms reportedly looking to pick off bits of the business.“After years when it felt like WPP’s shares had been suffering a slow puncture, the tyre has burst in stock market terms for the company in 2025. This led to the departure of CEO Mark Read and investors in the US apparently being rallied by law firms for a class action lawsuit alleging they were misled about the state of the business.This better-than-expected performance was initial...

Economics

2 w. ago Japan and Swizerland’s economies contract as exports are hit by US tariffs – business live

Rolling coverage of the latest economic and financial newsA flurry of takeover speculation has driven shares in advertising group WPP higher at the start of trading in London.WPP’s shares are up 4.7%, leading the risers on the FTSE 100 share index, following reports that several potential suitors have considered a bid.It is not clear whether any formal bids for WPP will materialise. Bidders could seek to buy the company in its entirety, take large stakes in the business or attempt to pick off parts of the holding group.It is understood there have been talks at a high level inside Havas, which is led by [billionaire Vincent] Bolloré’s son Yannick, about the potential for a deal involving WPP. Continue reading...

Economics

3 w. ago Trump’s dollar delusion: how trade war risks ending the US’s ‘exorbitant privilege’

Trump’s team flirts with weakening the dollar, threatening US influence, low borrowing costs and global stabilityMagical thinking is indispensable to understanding Team Trump’s economic policymaking. The White House often seems to believe two opposing policies can work together while one policy can do two or three contradictory things.A heavy dose of hocus pocus will be needed to make the administration’s dollar policy work in the interest of the United States, for it appears that they want to end the US dollar’s supremacy in global finance. Continue reading...

Events

3 w. ago Corporate America posts best earnings in 4 years despite tariffs

Companies defy warnings about impact of Trump trade war to beat forecasts at one of highest rates on record

Politics

3 w. ago Canada budget adds tens of billions to deficit as Carney spends to dampen Trump tariffs effect

Entitled ‘Canada Strong’ the 2025 budget envisions significant new defence spending, a reduction of the civil service and ‘generational investments’A protracted trade war with the United States and a weakening domestic economy has forced Mark Carney to run a deficit tens of billions larger than initially forecast in his first-ever federal budget.The spending plan, titled “Canada Strong” envisions significant new defence spending, a reduction of the country’s civil service and “generational investments” that would reshape the nature of the country’s economy. Continue reading...

Economics

4 w. ago Canada’s Liberal party says budget of ‘sacrifice’ needed to avoid recession

Country set to unveil PM Mark Carney’s spending plan as it battles trade war with US and protracted cost of living crisisCanada’s ruling Liberal party has said a budget of “sacrifice” is required to confront both a trade war with the US and a protracted cost of living crisis that threatens to push the country into a recession. But with opposition parties signalling they won’t support the fiscal plans of the prime minister, Mark Carney, a failed parliamentary vote on the budget could plunge the country into another federal election in the coming weeks.The country’s finance minister, François-Philippe Champagne, will on Tuesday unveil a spending plan his government has signalled will include both steep deficits and spending cuts. Few details have leaked ahead of the announcement, which will mark the first substantive look at how Carney plans to avoid a recession while locked in a trade war with the US, Canada’s biggest economic partner. Continue reading...

Economics