69 m. ago Pound rises above $1.29 as Trump fears hit dollar; Poundland chain up for sale – business live

Dollar slides after US president exempts carmakers from 25% tariffs on Canada and Mexico; euro and sterling hit four-month highsThe British Chambers of Commerce (BCC) is predicting “a long and challenging year for UK businesses”. It has become more gloomy about the growth outlook for the UK and said firms will struggle to invest as they deal with a raft of rising cost pressures.This is going to be a long and challenging year for UK businesses. The BCC’s forecast shows an economy struggling without the secure foundations to kickstart business investment.Inflation will continue to be stubborn this year forcing the Bank of England to keep interest rates relatively high. Global uncertainties will add further dark clouds to the economic climate. Continue reading...

Economics

14 h. ago European markets soar as Germany moves to lift ‘debt brake’ and raise defence spending

Berlin’s ‘big bazooka’ proposal sends industrial stocks surging but fiscal sea change also hikes borrowing costsBusiness live – German debt ‘bazooka’ rallies stocks and euroEuropean financial markets have rallied sharply and German borrowing costs have soared after the country’s prospective leaders announced a historic deal to loosen its “debt brake” rule to boost spending on defence.The yield – in effect the interest rate – on 30-year German government bonds rose by about 25 basis points to 3.08% in its biggest daily increase since October 1998. Continue reading...

Economics

19 h. ago European markets soar as Germany lifts ‘debt brake’ to raise defence spending

Berlin’s ‘big bazooka’ move sends industrial stocks surging but fiscal sea change also hikes borrowing costsBusiness live – German debt ‘bazooka’ rallies stocks and euroEuropean financial markets have rallied sharply and German borrowing costs have soared after the country’s prospective leaders announced a historic deal to loosen its “debt brake” rule to boost spending on defence.The yield – in effect the interest rate – on 30-year German government bonds rose by 16 basis points, after having earlier jumped by as much as 25 basis points to 3.07% in its biggest increase since October 1998. Continue reading...

Economics

22 h. ago AD FEATURE: Manchester City star’s inspiring message on overcoming self

City forward Lauren Hemp is backing the club’s collaboration with Buy Women Built to promote female-founded businesses. This weekend, a unique live event is being held in Manchester to celebrate International Women’s Day, with tickets available for just £5

Sport

23 h. ago German debt ‘bazooka’ sends stocks, euro rallying and bond yields soaring; dollar slides – business live

Defence stocks leap while dollar falls further, sparking talk that it could lose its safe-haven statusAs defence stocks are soaring, Europe’s aerospace and defence index has hit a new record high, rising by 3.7%.The euro has also powered ahead and is now 0.8% higher against the dollar at $1.0711. Continue reading...

Society

47 h. ago FTSE 100 Live 04 March: Tariffs halt index record run, Greggs slides despite £2bn sales

The launch of Donald Trump's long-threatened tariffs against Canada and Mexico today put global markets on edge.

Economics

47 h. ago FTSE 100 Live 04 March: Tariffs halt index record run, Greggs tops £2bn annual sales

The launch of Donald Trump's long-threatened tariffs against Canada and Mexico today put global markets on edge.

Economics

2 d. ago Markets climb as defence stocks, euro and pound rally on Europe’s Ukraine peace push – business live

German stock market records biggest gains after Starmer announces ‘coalition of the willing,’ as investors expect big splurge in defence spending Eurozone inflation has dipped, moving closer to the European Central Bank’s 2% target, ahead of a widely expected drop in interest rates at the central bank’s meeting on Thursday.Headline inflation fell from 2.5% to 2.4% in January, while core inflation, which strips out volatile energy and food costs, dropped from 2.7 to 2.6%, Eurostat said this morning.After quite a strong January reading, February eurozone inflation came in soft. Core inflation ticked down after having been stable at 2.7% since September.The weak economic environment seems to trump an increase in reported input costs for the moment. For the European Central Bank, this is a dovish sign as the governing council mulls over how low it should bring rates. Continue reading...

Economics

2 d. ago FTSE 100 Live 03 March: BAE Systems shares rocket as index sets new record, Severfield slides

A big jump for the shares of BAE Systems today pushed the FTSE 100 index to a fresh record.

Events

3 d. ago Bitcoin jumps on US crypto reserve plan; euro rises on Europe’s Ukraine peace push – business live

Cryptocurrencies rally while euro and sterling rise on Keir Starmer’s ‘coalition of the willing’Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.Cryptocurrencies have rallied on plans for a new US strategic reserve, while the euro and sterling rose amid Europe’s peace push for Ukraine. Continue reading...

Politics

7 d. ago BP to ramp up oil and gas output in major shift away from green goals

Fossil fuel firm will cut more than $5bn from low-carbon investment plan in ‘fundamental reset’Business live – latest updatesBP is dropping green goals, ramping up oil and gas production and slashing spending on low-carbon energy as part of a fundamental reset of the troubled company.The FTSE 100 fossil fuel company has promised shareholders it will increase its target for oil and gas production by 2030 to the equivalent of about 2.4m barrels a day – about 60% higher than the figure in its net zero plan set out five years ago. Continue reading...

Politics

7 d. ago BP ramps up oil and gas investment to $10bn a year in ‘fundamental reset’ – business live

Oil and gas giant abandons green ambitions, as boss says it will be ‘very selective’ about investing in fossil fuel alternativesBP will abandon its green ambitions, including plans to cut its oil and gas production by the end of the decade, as part of a “fundamental reset” of the troubled company’s strategy.Instead, it is ramping up its oil and gas investment to $10bn a year.Today we have fundamentally reset BP’s strategy. We are reducing and reallocating capital expenditure to our highest-returning businesses to drive growth, and relentlessly pursuing performance improvements and cost efficiency. This is all in service of sustainably growing cash flow and returns.This strategy will see BP grow its upstream oil and gas business, focus its downstream business, and invest with increasing discipline into the transition.Connecting offshore wind farms such as Sofia helps harness the power of the North Sea to keep the lights on and deliver homegrown energy to British consumers.OFTO is par...

Economics

7 d. ago FTSE 100 Live 26 February: BP slashes green energy spending, miners drive index rally

Aston Martin Lagonda and shopping centre owner Hammerson are among the companies reporting today.

Politics

8 d. ago FTSE 100 Live 26 February: Miners fuel index rally, Aston Martin Lagonda eyes 2025 recovery

Aston Martin Lagonda and shopping centre owner Hammerson are among the companies reporting today.

Politics

8 d. ago Bitcoin slides below $90,000 amid crypto selloff; Tesla sales almost halve across Europe – business live

Bitcoin has tumbled below $90,000 to hit the lowest since mid-November, as rising volatility hits crypto marketFull story: Tesla sales almost halve in Europe as Musk faces criticism over Trump tiesSeveral UK charities are warning that this morning’s rise in the energy price cap (which covers England, Wales and Scotland) will hurt struggling householdssThe Centre for Ageing Better is concerned that millions of older people already struggling on low incomes will be put into even greater difficulty with increasing energy costs, having already lost their winter fuel payments last year.“It is so dispiriting to learn that bill payers must brace for another substantial increase to energy prices from April. For those living on the breadline, desperately struggling to meet the basic costs of everyday living, this will be heartbreaking news.There are millions of older people who no longer qualify for winter fuel payments who live on paltry incomes that do not even cover the basics of a dignif...

Economics

8 d. ago FTSE 100 Live 25 February: Unilever CEO in surprise exit, Bitcoin price fall continues

A change at the top of Hellmann’s and Knorr business Unilever today wrongfooted the City.

Economics

8 d. ago FTSE 100 Live 25 February: Unilever CEO leaves, Smith & Nephew results boost shares

A change at the top of Hellmann’s and Knorr business Unilever today wrongfooted the City.

Politics

9 d. ago Apple cheers Trump with $500bn US investment plan; UK defence firm Chemring ‘targeted’ by private equity firm – business live

One of the world’s largest private equity investors has made an approach to buy Chemring, the FTSE 250 defence group, Sky News reportsGerman election live: Merz says priority is to make Europe independent from US on defence as coalition talks to beginShares in some European weapons makers are rising in early trading too.German tank maker Rheinmetall jumped 3% at the start of trading, while in London BAE Systems are up 1.7%.‘’A dose of more certainty has been injected into European politics, with the Germany’s Conservatives winning the elections. It comes at a crucial time for the continent. Three years on from the invasion of Ukraine, high stakes deal making between the US and Russia continues, Ukraine is out in the cold and the outcome will have huge implications for security in Europe.There is a dawning realisation that European nations will have to pull together and present a more united deterrent force, and Friedrich Merz, the CDU leader, is reading from that script. He has pled...

Economics

9 d. ago UK defence firm Chemring ‘targeted’ by private equity firm Bain Capital– business live

One of the world’s largest private equity investors has made an approach to buy Chemring, the FTSE 250 defence group, Sky News reportsGerman election live: Merz says priority is to make Europe independent from US on defence as coalition talks to beginShares in some European weapons makers are rising in early trading too.German tank maker Rheinmetall jumped 3% at the start of trading, while in London BAE Systems are up 1.7%.‘’A dose of more certainty has been injected into European politics, with the Germany’s Conservatives winning the elections. It comes at a crucial time for the continent. Three years on from the invasion of Ukraine, high stakes deal making between the US and Russia continues, Ukraine is out in the cold and the outcome will have huge implications for security in Europe.There is a dawning realisation that European nations will have to pull together and present a more united deterrent force, and Friedrich Merz, the CDU leader, is reading from that script. He has pled...

Economics

9 d. ago Deutsche Bank boss calls for ‘fundamental reforms’ from next government, as German business confidence stagnates – business live

Rolling coverage of the latest economic and financial news, as euro rallies and DAX and MDAX indices rise in early tradingGerman election live: Merz says priority is to make Europe independent from US on defence as coalition talks to beginShares in some European weapons makers are rising in early trading too.German tank maker Rheinmetall jumped 3% at the start of trading, while in London BAE Systems are up 1.7%.‘’A dose of more certainty has been injected into European politics, with the Germany’s Conservatives winning the elections. It comes at a crucial time for the continent. Three years on from the invasion of Ukraine, high stakes deal making between the US and Russia continues, Ukraine is out in the cold and the outcome will have huge implications for security in Europe.There is a dawning realisation that European nations will have to pull together and present a more united deterrent force, and Friedrich Merz, the CDU leader, is reading from that script. He has pledged to relax...

Economics