13 h. ago Trump ‘recommending’ 50% tariff on EU, and threatens Apple with 25% tariff – business live

US president Donald Trump reignites trade war with threat to impose high tariffs on European goods, and Apple iPhones made overseasTypical energy bill in Great Britain to fall 7% to £1,720 a year from JulyAs well as cutting UK energy costs (see earlier), Donald Trump can also take credit for growing the German economy!New GDP data this morning shows that Germany’s GDP rose by 0.4% in January-March, twice as fast as the first estimate of 0.2% growth in the quarter.“The reason for the slightly higher growth compared to the initial estimate was the surprisingly positive economic development in March.”“In particular, production in the manufacturing sector and exports performed better than initially expected.The German economy had its best quarterly performance since the third quarter of 2022, and the reason for it seems to be Donald Trump. As a result of the announced tariffs and in anticipation of ‘Liberation Day,’ German industrial production and exports surged in March.Net exports an...

Politics

17 h. ago FTSE 100 Live 23 May: Sterling higher after retail surprise, energy bills fall

Household energy bills will fall by 7% from July after the latest energy price cap was revealed by Ofgem today.

Science

18 h. ago FTSE 100 Live 23 May: Food sales drive retail surprise, energy bills fall

Household energy bills will fall by 7% from July after the latest energy price cap was revealed by Ofgem today.

Society

19 h. ago Energy price cap: Here's how much household energy bills are set to fall from July

News of a fall in energy costs will come as a relief for households

Economics

19 h. ago Energy price cap calculator: See how much YOUR bill will fall after Ofgem announcement

You can estimate how much your energy bill will drop from July after the changes from Ofgem were confirmed by using our calculator below

Economics

19 h. ago Ofgem confirms energy bills are set to fall by £129 under latest price cap

It comes after US president Donald Trump's aggressive tariff plans led to a significant slump in gas and oil prices

Economics

20 h. ago Household energy bills to fall by about £130 per year as energy price cap drops to £1,720

The typical bill will fall by around £129 to £1,720 per year from July

Economics

20 h. ago Household energy bills to fall by £129 this summer as Ofgem confirms new price cap

The drop of 7 per cent will see annual energy bills go down from £1,849 to £1,720 on July 1.

Economics

20 h. ago UK household energy bills to fall after Ofgem lowers price cap 7%

Reduction for July to September would see typical households pay £1,720 a year

Economics

65 h. ago FTSE 100 Live 21 May: M&S braced for £300m cyber attack hit, inflation surges

Marks & Spencer has revealed that disruption from a “highly sophisticated” cyber attack last month is expected to continue through to July.

Economics

65 h. ago FTSE 100 Live 21 May: Inflation surges, M&S reveals cyber attack profit hit

Marks & Spencer has revealed that disruption from a “highly sophisticated” cyber attack last month is expected to continue through to July.

Economics

3 d. ago Energy bills set to fall by £129 under new price cap due this week

Ofgem will confirm the July to October price cap on May 23.

Economics

4 d. ago Energy bills in Great Britain could fall this summer but ‘crisis not over’

Ofgem price cap on gas and electricity likely to drop by £129 to £1,720 a year, says consultancy Cornwall InsightBusiness live – latest updatesHousehold energy bills could drop this summer but experts have warned that “the crisis is not over” for households and manufacturers struggling to afford gas and electricity costs.The industry regulator’s quarterly price cap is expected to fall in July by an average of £129, or 7%, according to forecasts from Cornwall Insight, a leading energy consultancy. It has predicted that the cap will fall to £1,720 a year for a typical dual-fuel household this summer, from £1,849 under the current limits. Continue reading...

Events

4 d. ago Energy bills set to fall for millions of households within months

Bills are set to fall due to fluctuations in global gas and oil prices

Economics

4 d. ago Energy bills 'set to fall' this summer in major boost for millions of homes

The latest forecast from analysts at Cornwall Insight say energy bills could fall by around 7% to £1,720 a year for the typical household from July

Economics

3 w. ago Stock markets gain as China ‘evaluates’ offer of US trade talks – business live

Live, rolling coverage of business, economics and financial markets as FTSE 100 gains on hopes of US-China trade thaw; Shell profits drop 28% to $5.5bnCommodities companies are among the best performers on stock markets this morning.They would be among the best placed to benefit from the US backing down in its trade war with China. The FTSE 100 has a lot of Europe’s big mining listings, and they are leading the way on Friday. Continue reading...

Economics

3 w. ago Shell profits fall as big oil faces slump in prices; UK cuts NatWest stake below 2% – business live

Live, rolling coverage of business, economics and financial markets as FTSE 100 oil company profits drop 28% to $5.5bnStock markets have gained across Europe, as investors welcomed signs of a possible thaw in the trade war between the US and China.Germany’s Dax gained 1.2% in the early trades, while France’s Cac 40 was up 1.4% – after both were closed over the May Day bank holiday. The Stoxx 600 index, which tracks big companies across Europe, rose by 0.9%. The FTSE 100 was up 0.9%.“The US has recently taken the initiative on many occasions to convey information to China through relevant parties, saying it hopes to talk with China,” the statement said, adding that Beijing was “evaluating this”.“Attempting to use talks as a pretext to engage in coercion and extortion would not work,” it said.This optimism has continued overnight after China’s Ministry of Commerce said that it’s evaluating trade talks with the US. The ministry said this comes as “the US has recently sent messages to C...

Economics

3 w. ago Trump tariffs cause fastest slump in British factory export orders in five years – business live

Live, rolling coverage of business, economics and financial markets as UK manufacturers report falling export orders and China signals openness to US trade talks Fhaheen Khan, senior economist at Make UK, a lobby group for British manufacturing, said:UK manufacturers are caught in the eye of a perfect storm, with rising costs and international trade uncertainty undermining growth prospects. While actual changes in trade have been limited, the unpredictability, particularly around US tariff policy, is doing significant damage and paralysing decision makers. Many firms are delaying major investment decisions until greater clarity emerges, while being forced in the meantime to cut costs through redundancies while pushing through price increases.This has left manufacturing experiencing its most severe slowdown in years, with the UK at a competitive disadvantage compared to our European peers who are weathering current challenges relatively better. As a result, it is now vital that gover...

Politics

3 w. ago China hints at openness to trade talks with US; Tesla denies board search for Musk successor – business live

Live, rolling coverage of business, economics and financial markets as Chinese state-controlled social media says US has approached China for trade talksLloyds Banking Group has reported a 7% drop in pre-tax profit to £1.5bn in its first quarter, and is bracing for the ripple effect from Trump’s tariffs on its balance sheet.The high street bank said that it has set aside £309m to account for possible bad debts, compared with previous guidance of £274m, as it added a £35m net charge to prepare for the possible impact on the economic outlook from President Trump’s tariffs.The US has proactively reached out to China through multiple channels, hoping to hold discussions on the tariff issue.Yuyuan Tantian is not among China’s most authoritative state media outlets. The Global Times, which is owned by the newspaper of the governing Communist Party, People’s Daily, has often been first to report China’s next steps in trade disagreements over the past few years.Guo Jiakun, a spokesperson fo...

Politics

3 w. ago Tesla denies board search for Elon Musk’s successor; Trump tariffs to slash growth, says Bank of Japan – business live

Live, rolling coverage of business, economics and financial markets as US electric carmaker says report board is looking for next Tesla boss is ‘absolutely false’National Grid, the FTSE 100 company that owns the UK’s electricity network, has appointed Shell oil executive Zoë Yujnovich as chief executive after the retirement of John Pettigrew.Yujnovich was until recently working at FTSE 100 oil company Shell, where she was director of integrated gas and upstream (oil production) and a member of the executive committee. She previously led the Iron Ore company of Canada, part of Rio Tinto.I firmly believe in the vital function energy companies play in driving change and creating value. On both sides of the Atlantic National Grid has an essential role to play in making energy secure, affordable and reliable for our customers and communities. I’m excited about leading National Grid as it delivers on the growth opportunities ahead. Continue reading...

Economics