6 h. ago Trade war fears trigger biggest slide in US consumer expectations since 1990 recession – business live

Rolling coverage of the latest economic and financial newsXi announces plan for Chinese economy to counter impact of US trade warEuropean stock markets are rising this morning, amid hopes that China is relaxing some of its tariffs.In London, the FTSE 100 index is up 12 points or 0.13%, at 8417 points. Engineering companies are among the top risers, with aerospare manufacturers Melrose up 3.6%, and Rolls-Royce up 2%, after Safran reported that tariffs on aircraft parts have been lifted.“We learned last night that China has taken the decision not to tax engines or landing gear or nacelles - in other words a certain number of aerospace equipment parts.”“It demonstrates that the situation is very fluid.” Continue reading...

Economics

12 h. ago Xi announces plan for Chinese economy to counter impact of US trade war

Beijing will ‘strengthen bottom-line thinking’ as reports say it could drop tariffs on some US products Business live – latest updatesXi Jinping has announced a plan to counter China’s continuing economic problems and the impact of the US trade war, as reports swirl that it could drop tariffs on some US products, including semiconductors.Friday’s meeting of the politburo was convened to discuss China’s economic situation, which since the pandemic has faced difficulties fuelled by a housing sector crisis, youth unemployment, and Donald Trump’s tariffs on all Chinese exports. Continue reading...

Events

14 h. ago China ‘may exempt some US goods’ from tariffs; British retail sales beat forecasts – business live

Rolling coverage of the latest economic and financial newsRachel Reeves used a brief speech to US investors at the British ambassador’s lavish residence in Washington last night, to acknowledge some of the downsides of globalisation, in a nod to Donald Trump’s stance.As she prepares to meet Treasury secretary Scott Bessent today, Reeves said China’s entry into the global trading system 25 years ago had created “huge benefits in terms of cheaper goods, more innovation and more opportunities to trade”.“They voted for change because they didn’t think that the economy worked well enough for them and their families. They saw the erosion of good jobs that paid a decent wage. They saw industries that once powered their towns disappear. And as elected politicians we have to respond to that”.“Some may say that under this very consequential president we have at the moment, this is a rollercoaster period and therefore a challenge to us all. But we would say that a rollercoaster is fine, as lon...

Economics

33 h. ago IMF warns that trade tensions could test stability of world economy; Reeves ‘confident’ about US trade deal – business live

Rolling coverage of the latest economic and financial newsDonald Trump’s tariffs will make it harder for Sir Jim Ratcliffe’s car division, Ineos Automotive, to reach its first profit.Ineos Automotive’s CEO, Lynn Calder, told Bloomberg that the US president’s 25% tariff on foreign cars will make it harder to hit the earnings target.“For sure, this last week has put a dent in that and, for sure, delayed it,”“We’re stubborn as mules. We’re not easy to knock down.”“With fieldwork completed just days after Donald Trump’s “Liberation Day” tariffs, it is unsurprising that consumer expectations for the economy plummeted to a record low. The original tariff schedule, since reduced for most countries, was expected to reduce growth in the UK and elsewhere. Yet despite this economic pessimism, expectations of retail spending rose slightly as the prospect of Easter shopping drew closer.The state of the economy dropped significantly to -48 in April, down from -35 in March.Their personal financial...

Events

37 h. ago US trade war fears drive UK consumer confidence down to record low; Tesla’s European sales fall again – business live

Rolling coverage of the latest economic and financial newsDonald Trump’s tariffs will make it harder for Sir Jim Ratcliffe’s car division, Ineos Automotive, to reach its first profit.Ineos Automotive’s CEO, Lynn Calder, told Bloomberg that the US president’s 25% tariff on foreign cars will make it harder to hit the earnings target.“For sure, this last week has put a dent in that and, for sure, delayed it,”“We’re stubborn as mules. We’re not easy to knock down.”“With fieldwork completed just days after Donald Trump’s “Liberation Day” tariffs, it is unsurprising that consumer expectations for the economy plummeted to a record low. The original tariff schedule, since reduced for most countries, was expected to reduce growth in the UK and elsewhere. Yet despite this economic pessimism, expectations of retail spending rose slightly as the prospect of Easter shopping drew closer.The state of the economy dropped significantly to -48 in April, down from -35 in March.Their personal financial...

Economics

39 h. ago US trade war will hurt UK growth, Bank of England governor warns; Tesla’s European sales fall again – business live

Rolling coverage of the latest economic and financial newsACEA’s latest European car sales report shows a continued decline in demand for fossil fuel-powered vehicles.While new battery-electric car sales grew by 23.9% in the first three months of 2025, to 412,997 units, petrol car registrations saw a significant decline of 20.6%, with all major markets showing decreases. Continue reading...

Economics

56 h. ago UK private sector shrinks as export orders slump; state borrowing nearly £15bn above official forecast – business live

Eurozone private sector ‘broadly stable’ in April; stocks, dollar, oil prices rise on hopes of US-China trade dealUK annual borrowing exceeds forecasts by almost £15bnThe collapse in confidence and drop in output during April raise red flags for the economic outlook and add pressure on the Bank of England to reduce interest rates again at its May meeting, said Chris Williamson, chief business economist at S&P Global Market Intelligence.While recent months have been characterised by UK businesses treading water, broadly stagnating since last autumn’s budget, businesses are reporting more of a struggle to keep their heads above water in April.April’s fall in output was the largest recorded for nearly two and a half years, consistent with GDP declining at a quarterly rate of 0.3%, reflecting falling activity and demand across both manufacturing and services. Continue reading...

Economics

60 h. ago Rachel Reeves live: ‘Collapse in confidence’ warning from UK businesses ahead of Trump trade talks

Activity across the UK’s private sector falls to more than two-year low amid Trump tariffs

Events

62 h. ago UK annual borrowing nearly £15bn above official forecast; stocks rise as Trump rows back on Fed attack – business live

UK government borrowed £151.9bn in year to March; investors cheered by hopes of US-China trade dealEuropean stocks have also opened higher, as a wave of relief spread across markets.The UK’s FTSE 100 index is up by 1.2% at 8,430, while the Italian FTSE MiB rose by 1.4%.Bessent threw a lifeline to fragile US sentiment with conciliatory remarks on the US-China trade war. Bessent said the current tariff situation is “unsustainable” and expects a de-escalation in the near term.We could witness a period where the dollar is tossed around by headlines of Fed independence risk and market-friendly news on US tariff policy. What is clear by now is that no other G10 currency has a higher positive beta to trade news than the dollar. Continue reading...

Politics

3 d. ago Gold climbs above $3,500 for first time as Wall Street rallies after slide

Dollar also recovers after Monday’s sell-off prompted by Trump’s attack on Federal Reserve chair caused alarm among investorsBusiness live – latest updatesGold has climbed above $3,500 an ounce for the first time while stocks on Wall Street and the dollar rose following Monday’s sell-off that was prompted by Donald Trump’s blistering attack on the Federal Reserve chair, Jerome Powell, caused alarm among investors.Spot gold reached the record price of $3,500.01 on Tuesday, extending a rally that has pushed bullion up from $2,623 an ounce at the start of this year. Analysts now predict the metal could even reach $4,000 only a matter of weeks after the price moved through $3,000 for the first time. Continue reading...

Politics

8 d. ago Global economic growth will slow amid Trump tariffs, IMF warns – as it happened

Live, rolling coverage of business, economics and financial markets as ECB reduces main interest rate from 2.5% to 2.25%, the seventh cut in a yearTrump attacks Fed chair Jerome Powell for not lowering interest ratesECB cuts rates for third time this year as Europe braces for Trump tariffsDonald Trump is awake. And he has strongly criticised monetary policy by the Federal Reserve, saying the end of Jerome Powell’s tenure as chair “cannot come fast enough”.In a post on Truth Social, the social network he owns, Trump said that Powell had been too slow to cut interest rates – contrasting its hesistance because of perceived inflationary pressures with the European Central Bank (ECB).The ECB is expected to cut interest rates for the 7th time, and yet, “Too Late” Jerome Powell of the Fed, who is always TOO LATE AND WRONG, yesterday issued a report which was another, and typical, complete “mess!” Oil prices are down, groceries (even eggs!) are down, and the USA is getting RICH ON TARIFFS. ...

Events

8 d. ago Global economic growth will slow amid Trump tariffs, IMF warns – business live

Live, rolling coverage of business, economics and financial markets as ECB reduces main interest rate from 2.5% to 2.25%, the seventh cut in a yearTrump attacks Fed chair Jerome Powell for not lowering interest ratesECB cuts rates for third time this year as Europe braces for Trump tariffsDonald Trump is awake. And he has strongly criticised monetary policy by the Federal Reserve, saying the end of Jerome Powell’s tenure as chair “cannot come fast enough”.In a post on Truth Social, the social network he owns, Trump said that Powell had been too slow to cut interest rates – contrasting its hesistance because of perceived inflationary pressures with the European Central Bank (ECB).The ECB is expected to cut interest rates for the 7th time, and yet, “Too Late” Jerome Powell of the Fed, who is always TOO LATE AND WRONG, yesterday issued a report which was another, and typical, complete “mess!” Oil prices are down, groceries (even eggs!) are down, and the USA is getting RICH ON TARIFFS. ...

Economics

8 d. ago Donald Trump criticises Federal Reserve chair as European Central Bank cuts interest rates – business live

Live, rolling coverage of business, economics and financial markets as ECB reduces main interest rate from 2.5% to 2.25%, the seventh cut in a yearDonald Trump is awake. And he has strongly criticised monetary policy by the Federal Reserve, saying the end of Jerome Powell’s tenure as chair “cannot come fast enough”.In a post on Truth Social, the social network he owns, Trump said that Powell had been too slow to cut interest rates – contrasting its hesistance because of perceived inflationary pressures with the European Central Bank (ECB).The ECB is expected to cut interest rates for the 7th time, and yet, “Too Late” Jerome Powell of the Fed, who is always TOO LATE AND WRONG, yesterday issued a report which was another, and typical, complete “mess!” Oil prices are down, groceries (even eggs!) are down, and the USA is getting RICH ON TARIFFS. Too Late should have lowered Interest Rates, like the ECB, long ago, but he should certainly lower them now. Powell’s termination cannot come f...

Politics

8 d. ago Nvidia boss visits China days after Donald Trump limits AI chip exports – business live

Live, rolling coverage of business, economics and financial markets as Chinese state media publishes photo of Jensen Huang visiting BeijingNvidia boss Jensen Huang has travelled to China for talks despite limits on the chip company’s sales imposed by the White House under Donald Trump.The visit of Huang, chief executive of one of the US’s most valuable companies, will be closely followed amid the vicious trade war between the US and China.The SFO remains committed to stamping out international bribery wherever it may occur.British companies have a duty to prevent the harm caused by bribery when doing business at home and abroad, to ensure that the UK remains a safe and fair place to do business. Continue reading...

Politics

9 d. ago Asian shares sell off as US curbs on Nvidia chip sales to China fuel trade fears; UK inflation slows to 2.6% – business live

Gold surges nearly 2% to new record high; UK food inflation slows and fuel prices fall while clothes prices riseFinancial markets are betting on an interest rate cut from the Bank of England meeting at its May meeting, estimating an 86% probability.They have fully priced in three quarter-point rate reductions this year.A sharp pickup in inflation from April is all but guaranteed. Ofgem’s 6.4% increase to its price cap, after a large fall last year, means we expect the energy component will add 0.7ppts to CPI inflation in April. A significant increase in water bills means the contribution from the core goods category is also set to rise. In addition, we expect businesses to pass on some of the increase in labour costs caused by the recent rises in employers’ National Insurance Contributions (NICs) and the National Living Wage onto consumers. Inflation is likely to peak in the autumn, before starting to cool as the contribution from the energy category fades.The MPC has lowered Bank R...

Economics

1 week ago ‘The sky won’t fall’: China plays down Trump tariff risks as stock markets rally

Chinese customs official says trade has diversified away from US in recent years and plays up its ‘vast domestic market’Business live – latest updatesChina has played down the risk of damage to its exports from Donald Trump’s tariffs, with an official saying the “the sky won’t fall”, as stock markets rose on Monday amid signs of a retreat on electronics restrictions.The world’s second-largest economy has diversified its trade away from the US in recent years, according to Lyu Daliang, a customs administration spokesperson, in comments reported by state-owned agency Xinhua. Continue reading...

Politics

1 week ago Stock markets rise on signs of Trump tariff retreat; British Steel races to keep furnaces burning – business live

Chinese exports jump as official says ‘the sky won’t fall,’ despite warning from US officials that smartphone and laptop exemption from import tariffs on China will be short-livedMatt Britzman, senior equity analyst at Hargreaves Lansdown, said:Just when it seemed the tariff chaos couldn’t get any worse, tech investors have spent the weekend scrambling to make sense of a whirlwind of confusing - and at times contradictory - messages coming out of the White House. Despite the drama, European markets have taken an easing stance on US tech components as a positive in a broad-based rally this morning, with the FTSE 100 up 1.5% in early trading.This time, it’s chips, smartphones, and other tech components taking centre stage. While there were early signs on Friday night that some broad exemptions might be in play, it turns out tariffs are still very much on the table. But here’s the twist: despite the messy rollout, what’s caught investors’ attention is the news that these products won’t...

Economics

1 week ago Tariffs live: UK suspends some tariffs to ease business tension as trade deal ‘days away’

Breakthrough between UK and the US over tariffs could be reached in the coming days

Economics

1 week ago Tariffs live: US central bank threatens to step in as Trump still defends levies

President insists policy ‘doing really well’ despite China hiking tariffs on American goods to 125 per cent

Politics

1 week ago Tariffs live: Trump insists policy ‘doing really well’ despite China hiking levies on American goods to 125%

Beijing will ignore further US action as ‘there is no possibility of market acceptance for US goods’ at current tariff level

Politics