8 h. ago UK and eurozone construction declines slow; European markets fall ahead of Fed rate decision – business live

People’s Bank of China cuts interest rates due to global uncertainty and ‘trade tensions’Matthew Pointon, senior commercial real estate economist at Capital Economics, said:The commercial balance was at its lowest since the height of the Covid lockdowns in May 2020. Early signs of a recovery in construction activity in late 2024 have therefore been snuffed out. Elevated interest rates will be partly responsible, but uncertainty caused by the US tariff announcements may also be weighing on activity.Admittedly, UK property is relatively well insulated from the impact, and some sectors may even benefit. Construction costs may also ease if materials that had been destined for the US are rerouted to the UK. But the rise in overall economic uncertainty may cause some developers to delay plans until the outlook becomes clearer. Indeed, the new orders balance saw a small fall to 44.0, from 44.2 in March. Continue reading...

Society

25 h. ago Ford expects to take a $1.5bn profit hit from Trump tariffs this year

Ford became the latest automotive giant to pull profit guidance as the chaos unleashed by Trump made financial forecasting impossible.

Economics

42 h. ago UK consumer confidence at lowest level since December 2022, says Which?

Almost two-thirds of people believe economy will get worse in next 12 months amid tariffs uncertainty and Ukraine warConsumer confidence in the UK economy has fallen to the lowest levels since the height of the cost of living crisis, as people worry about the impact of US tariffs and Russia’s war in Ukraine.Almost two-thirds of people believe the economy will get worse in the next 12 months, while only 11% think it will improve, according to a survey from the consumer group Which?. Continue reading...

Politics

5 d. ago One hundred days in, Donald Trump faces a problem: he can rage, but he can’t govern | Jonathan Freedland

Americans are beginning to worry about their future amid a shrinking economy, warnings of empty shelves – and the president’s failed promisesHe says it’s the “best 100-day start of any president in history”, but you can file that along with his boast about crowd sizes and his claim to have won the 2020 election. In truth, the first three months of Donald Trump’s second presidency have been calamitous on almost every measure. The single biggest achievement of those 100 days has been to serve as a warning of the perils of nationalist populism, which is effective in winning votes but disastrous when translated into reality. That warning applies across the democratic world – and is especially timely in Britain.Start with the numbers that matter most to Trump himself. A slew of polls appeared this week, but they all told the same story: that Trump’s approval ratings have collapsed, falling to the lowest level for a newly installed president in the postwar era. He has now edged ahead of h...

Politics

7 d. 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

8 d. ago US consumer confidence plunges to lowest in 5 years on tariff worries

Americans’ confidence in the economy slumped for the fifth straight month to the lowest level since the onset of COIVD-19 as worries about the impact of tariffs take a heavy toll on consumer expectations for future growth

Politics

9 d. ago Housebuilding in London slumps to its lowest level since 2009

Work was started on just 1,210 new private flats and houses in the first quarter of the year, according to latest figures from Molior.

Politics

9 d. ago Asian shares inch higher as uncertainty over US tariffs persists

Asian markets have inched higher as investors wait to see what comes of negotiations over U.S. President Donald Trump’s tariffs

Politics

1 week ago Dating apps face a reckoning as users log off: ‘There’s no actual human connection’

In Australia, dating apps have been hit with lawsuits and new regulation, while their profits are declining worldwideGet our weekend culture and lifestyle emailSad, dizzyingly over-scheduled and suffering a serious case of “thumb fatigue”, midway through last year, Anne* decided to delete her dating apps.For the previous four months, the 31-year-old Sydney resident had been attempting to achieve two big adult milestones at once: finding love and finding a place to buy. Every Saturday, it felt as though she was being priced out of another suburb, and at auctions she was mainly surrounded by couples. Then she would come home, open Hinge and experience a crushing sense of rejection “on such a personal level”. Continue reading...

Politics

1 week ago Pakistan and India exchange fire as UN calls for ‘maximum restraint’

Countries trade blows across line of control in disputed Kashmir as tensions rise after deadly shootingTroops from Pakistan and India exchanged fire overnight across the line of control in disputed Kashmir, officials have said, after the UN urged the nuclear-armed rivals to show “maximum restraint” after a deadly shooting in the region.Relations have plunged to their lowest level in years, with India accusing Pakistan of supporting “cross-border terrorism” after gunmen carried out the worst attack on civilians in contested Muslim-majority Kashmir for a quarter of a century. Continue reading...

Events

1 week ago Kashmir attack: Indian army chief to visit Srinagar as UN urges ‘maximum restraint’

UN calls for tensions between India and Pakistan to be resolved peacefully as relations plunge to lowest level in years following deadly shootingIndia’s army chief was set to lead a high-level security review in Srinagar on Friday, days after militants opened fire on tourists in Indian-held Kashmir, killing 26 civilians in one of the worst such attacks in years.The brazen assault, carried out in a mountain meadow near Pahalgam, has derailed prime minister Narendra Modi’s claims of restored calm in the restive Himalayan territory and sent tensions soaring between nuclear-armed India and Pakistan. Continue reading...

Events

2 w. ago Belgian teenagers found with 5,000 ants to be sentenced in 2 weeks

Two Belgian teenagers who were found with thousands of ants valued at $9,200 and allegedly destined for European and Asian markets will be sentenced in two weeks

Politics

2 w. ago Asian shares jump on hopes tariff war may subside and Trump won't fire Federal Reserve chief

Asian shares are mostly higher, with markets showing relief after President Donald Trump indicated he won’t dismiss the head of the U.S. Federal Reserve

Events

2 w. ago The Guardian view on the IMF’s warning: Donald Trump could cost the world a trillion dollars | Editorial

The US president’s economic agenda collides with fragile financial systems, triggering market fears, investor flight and developing nation chaosWake up! When the most sober of global institutions, the International Monetary Fund, abandons its usual technocratic calm to sound the alarm on the political roots of global financial instability, it’s time to pay attention. The IMF is warning of a non-negligible risk of a $1tn hit to global output, as Donald Trump’s erratic “America first” agenda – part oligarchic enrichment scheme, part mobster shakedown – collides with a perfect storm of global financial vulnerabilities.Such a shock would be equivalent to a third of that experienced in the 2008 crisis. But it would be felt in a much more fragile and politically charged environment. This time, the crisis stems not just from markets but from the politics at the heart of the dollar system. The IMF’s latest Global Financial Stability Report sees the danger in Mr Trump’s trade ...

Events

2 w. ago Asian markets are mixed as US tech companies are due to release earnings

Asian shares are mixed following the Easter weekend holiday, with some markets still closed

Economics

2 w. ago Asian markets are mostly higher as Wall Street is stuck in trade war doldrums

Asian shares are mostly higher after a bumpy ride on Wall Street

Events

3 w. ago UK scrambles for deal to stop Trump imposing 25% tariff on medicine imports amid jobs fears

Donald Trump has said he is drawing up levies on foreign drugs, suggesting they could be 25 per cent and take effect in the 'not too distant future'.

Economics

3 w. ago Scramble underway to stop Trump tariffs hitting Britain’s pharmaceutical industry

Donald Trump has warned tariffs on pharmaceuticals would come ‘in the not too distant future’

Politics

3 w. ago UK scrambling to get Donald Trump to slash tariffs to zero, says minister as US threatens medicines levies

Tariffs on Britain’s pharmaceutical industry could deal a severe blow, potentially costing firms billions of pounds

Politics

3 w. ago In the red: global wine sales fall to lowest levels since 1961

Consumption and production falls in almost every market as industry fears a ‘generational’ change in drinking habitsWorldwide consumption of wine fell in 2024 to its lowest level in more than 60 years, the main trade body has said, raising concerns about new risks from US tariffs.The International Organisation of Vine and Wine (OIV) said on Tuesday that 2024 sales fell 3.3% from the previous year to 214.2m hectolitres. Continue reading...

Politics