4 d. ago Canada poised to pass infrastructure bill despite pushback from Indigenous people

Bill prioritizes ‘nation-building’ pipelines and mines, causing concern that sped-up approvals will override constitutional rightsCanada’s Liberal government is poised to pass controversial legislation on Friday that aims to kick-start “nation building” infrastructure projects but has received widespread pushback from Indigenous communities over fears it tramples on their constitutional rights.On its final day of sitting before breaking for summer, parliament is expected to vote on Bill C-5. The legislation promised by Mark Carney, the prime minister, during the federal election, is meant to strengthen Canada’s economy amid a trade war launched by Donald Trump. Continue reading...

Politics

5 d. ago MIKEY SMITH: 7 unhinged Donald Trump moments after furious rant at his old friends at Fox News

Donald Trump gives the impression of a man who wishes he could get back to the golf course. In fact, he kind of said exactly that to a reporter during the flag-raising

Politics

6 d. ago UK interest rates expected to remain on hold; rate cuts in Norway, Switzerland and the Philippines – business live

Central bankers warn that trade war worries, and conflict in the Middle East, could hurt growthNewsflash: We have a third interest rate cut this morning!Norway’s central bank has surprised analysts by cutting its policy rate by a quarter of one percentage point, to 4.25%. The rate had been set at 4.5% since December 2023.“Inflation has declined since the monetary policy meeting in March, and the inflation outlook for the coming year indicates lower inflation than previously expected.A cautious normalisation of the policy rate will pave the way for inflation to return to target without restricting the economy more than necessary.”“The uncertainty surrounding the economic outlook is now greater than normal. If the economy takes a different path than currently envisaged, the policy rate path may be adjusted. But our objectives stand firm. We will finish the job and ensure that inflation is brought all the way back to 2 percent.”The Monetary Board also noted indications of a deceleratio...

Politics

6 d. ago Bank of England expected to leave interest rates on hold as Middle East conflict pushes up oil price – business live

Rolling coverage of the latest economic and financial news, as Switzerland and Philippines cut interest ratesNewsflash: We have a third interest rate cut this morning!Norway’s central bank has surprised analysts by cutting its policy rate by a quarter of one percentage point, to 4.25%. The rate had been set at 4.5% since December 2023.“Inflation has declined since the monetary policy meeting in March, and the inflation outlook for the coming year indicates lower inflation than previously expected.A cautious normalisation of the policy rate will pave the way for inflation to return to target without restricting the economy more than necessary.”“The uncertainty surrounding the economic outlook is now greater than normal. If the economy takes a different path than currently envisaged, the policy rate path may be adjusted. But our objectives stand firm. We will finish the job and ensure that inflation is brought all the way back to 2 percent.”The Monetary Board also noted indications of...

Economics

6 d. ago Bank of England expected to leave interest rates as Middle East conflict drives up oil price – business live

Rolling coverage of the latest economic and financial newsEurope’s main stock markets have dropped at the start of trading.In London, the FTSE 100 index has lost 33 points, or 0.37%, to 8810 points. Mining stocks are among the fallers. Continue reading...

Economics

6 d. ago MIKEY SMITH: 8 unhinged Donald Trump moments as he makes a rude joke on TV

After a day of Situation Room briefings he said he still hadn't made his mind up about Iran. He did, however, have the time to show off two 100ft flag poles he's putting up outside the White House

Politics

6 d. ago UK transport secretary calls HS2 an ‘appalling mess’ as she confirms delay

Heidi Alexander vows to ‘sort out’ HS2 project; UK inflation dips to 3.4% as transport costs ease while food prices jumpUK inflation eases to 3.4% amid falling fuel and air fare pricesInflation pressures remain sticky in the UK, according to Rob Wood, chief UK economist at Pantheon Macroeconomics.Looking ahead, we continue to expect CPI inflation to average 3.4% for the rest of the year as strong wage growth, minimum wage hikes and tax increases pass through to retail prices. We think headline inflation will struggle to dip below 3% before April 2026. By that point, inflation will have been above target almost continuously for five years, risking further deanchoring of inflation expectations and persistent wage pressure.Granted, US president Trump’s trade war could lead to some diversion of Chinese exports previously bound to the US, which could cut UK inflation. But war in the Middle-East has boosted oil and natural gas prices, adding 10bp to our forecast inflation peak and risks p...

Politics

7 d. ago Why Europe should hijack Nato for its own purposes | Paul Taylor

As the Trump administration’s security focus shifts towards countering China, European governments are living on borrowed timeCall it the five-for-five summit. When Nato leaders meet in The Hague next week, European allies will sign up to a phoney transatlantic bargain in which they pretend they will spend 5% of their economic output on defence and Donald Trump pretends in return that he is committed to Article 5 of the Nato treaty, the mutual defence clause that he has repeatedly undermined.The Nato secretary general, Mark Rutte, is deploying all his considerable political wiles and powers of persuasion to contrive a short, “no surprises” summit at which fundamental differences over Russia’s war of aggression against Ukraine, trade, the Middle East and liberal democratic values are deliberately excluded.Paul Taylor is a senior visiting fellow at the European Policy Centre Continue reading...

Politics

8 d. ago Live: Trump and world leaders attend G7 summit against backdrop of trade war tension and Middle East conflict

Watch live as Donald Trump meets Canadian Prime Minister Mark Carney as he attends the G7 summit in Alberta on Monday (16 June).

Politics

9 d. ago MIKEY SMITH: 8 unhinged moments from Donald Trump's bizarre birthday tank parade

The long-awaited spectacle, on paper a celebration of the 250th anniversary of the US Army, was sparsely attended - with far fewer than the expected 250,000 Trump fans turning up for his 79th birthday bash

Politics

1 week ago MIKEY SMITH: 5 unhinged Donald Trump moments as storms threaten his birthday tank parade

Republicans are thinking about giving Trump's birthday parade a swerve - and it might get drowned in a biblical flood. Meanwhile, Marines Trump sent to LA detained a civilian, which is a big no-no

Events

1 week ago Donald Trump's birthday tank parade: Everything we know about the unhinged street party

Tanks will roll through the streets of Washington DC on Saturday in a $45 million display of America's military might - which has absolutely nothing to do with Donald Trump's birthday. Nothing at all.

Politics

1 week ago Vietnam risks being the trade war’s biggest loser. Does it have a plan B?

The south-east Asian country benefited hugely from US-China tensions, but the Trump tariffs strike at the heart of its economy

Events

1 week ago China delays approval of $35bn US chip merger amid Trump’s trade war

Beijing’s antitrust regulator postpones sign-off on Synopsys and Ansys deal

Politics

1 week ago MIKEY SMITH: 6 unhinged Donald Trump moments as he gets booed and trolled by drag queens at theatre

Do you hear the drag queens boo? Booing the President, that is. Happened when Donald Trump and Mrs Trump sat down to watch Les Mis. All of this and more in a day on Planet Trump

Politics

1 week ago Trump says China will face 55% tariffs under trade deal; US inflation rises to 2.4% – business live

Rolling coverage of the latest economic and financial newsElon Musk says he regrets some of his posts about Trump: ‘They went too far’US-China trade talks: ‘framework’ deal amid dispute over rare earthsShares in Tesla are set to rally in New York later today, after Elon Musk attempted to patch up relations with Donald Trump.Tesla’s shares are up 2.5% in premarket trading at $334.28, as traders react to Musk’s expression of regret over his criticism of Trump last week. Continue reading...

Economics

1 week ago Trump says Trade War ‘deal with China is done’ and he and Xi agree on minerals: ‘FULL MAGNETS’

China’s restrictions on rare earth exports have been putting pressure on American manufacturers who rely on them for a wide range of products

Politics

1 week ago Trump declares deal with China is ‘done’; US inflation rises to 2.4% – business live

Rolling coverage of the latest economic and financial newsElon Musk says he regrets some of his posts about Trump: ‘They went too far’US-China trade talks: ‘framework’ deal amid dispute over rare earthsShares in Tesla are set to rally in New York later today, after Elon Musk attempted to patch up relations with Donald Trump.Tesla’s shares are up 2.5% in premarket trading at $334.28, as traders react to Musk’s expression of regret over his criticism of Trump last week. Continue reading...

Economics

1 week ago Trump declares deal with China is ‘done’, with agreement on rare earths and magnets – business live

Rolling coverage of the latest economic and financial newsElon Musk says he regrets some of his posts about Trump: ‘They went too far’US-China trade talks: ‘framework’ deal amid dispute over rare earthsShares in Tesla are set to rally in New York later today, after Elon Musk attempted to patch up relations with Donald Trump.Tesla’s shares are up 2.5% in premarket trading at $334.28, as traders react to Musk’s expression of regret over his criticism of Trump last week. Continue reading...

Economics

1 week ago Tesla shares rise as Musk ‘regrets’ posts about Donald Trump; US

Rolling coverage of the latest economic and financial newsElon Musk says he regrets some of his posts about Trump: ‘They went too far’US-China trade talks: ‘framework’ deal amid dispute over rare earthsShares in Tesla are set to rally in New York later today, after Elon Musk attempted to patch up relations with Donald Trump.Tesla’s shares are up 2.5% in premarket trading at $334.28, as traders react to Musk’s expression of regret over his criticism of Trump last week. Continue reading...

Politics