7 h. ago ECB cuts rates again and warns trade war fears are hurting Europe’s economy

Quarter-point cut to deposit rate, to 2.5%, comes as Trump prepares to impose tariffs on EU exports to USBusiness live – latest updatesThe European Central Bank has cut interest rates across the 20-member eurozone for the second time this year, and warned that trade war fears were hurting Europe’s economy.The Frankfurt-based rate setter cut its benchmark deposit rate by a quarter of a percentage point to 2.5%, in line with City economist expectations, as Trump prepared to impose 25% tariffs on all goods imported from the EU, in line with similar actions taken against Canada and Mexico. Continue reading...

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13 h. ago Bank of England boss warns UK faces 'substantial' risk from Trump's trade war

Governor Andrew Bailey said there is a 'major shift going on in the US' which the Bank would have to 'take very seriously'

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30 h. ago Interest rate cuts might not be 'rapid' due to 'sticky' inflation, Bank of England chiefs warn as they highlight 'substantial' risks from Trump's trade war

Giving evidence to MPs, the Bank's chief economist Huw Pill warned interest rates might not fall as fast as hopes because there is still 'more work to do' to tackle price pressures.

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53 h. ago Reeves warns trade war will harm UK’s economy even if it avoids tariffs

Chancellor says growth and inflation will be hit by fallout from global friction

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55 h. ago Major US retailers warn Americans will pay more because of Trump’s trade war with top partners, report says – live

CEOs of Best Buy and Target say shoppers are likely to see rising prices, CNBC reports, after Trump tariffs hit Canada, Mexico and ChinaChina and Canada retaliate after Trump trade tariffs take effectDonald Trump has threatened to cut off funding to universities that allow “illegal protests”, and expel or deport students involved.Writing on Truth Social, the president said:All Federal Funding will STOP for any College, School, or University that allows illegal protests. Agitators will be imprisoned/or permanently sent back to the country from which they came. American students will be permanently expelled or, depending on on the crime, arrested. NO MASKS! Thank you for your attention to this matter.This is absurdly dishonest.I don’t even mention the UK or France in the clip, both of whom have fought bravely alongside the US over the last 20 years, and beyond.But let’s be direct: there are many countries who are volunteering (privately or publicly) support who have neither the battle...

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64 h. ago China and Canada retaliate after Trump trade tariffs come into effect

Markets tumble as US president’s levies against Canada, Mexico and China come into effectChina and Canada unveiled retaliatory measures against the US after Donald Trump imposed his sweeping tariffs plan at midnight US time, despite warnings it could spark an escalating trade war.US tariffs have come into force of 25% against goods from Canada and Mexico, the US’s two biggest trading partners, and 20% tariffs against China – doubling the levy on China from last month. Continue reading...

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