4 h. ago Meta faces historic antitrust trial that could force it to break off Instagram, WhatsApp

Meta Platforms Inc. faces a historic antitrust trial Monday that could force the tech giant to break off Instagram and WhatsApp, startups it bought more than a decade ago that have since grown into social media powerhouses

Politics

4 h. ago What does China really think of Trump? That he and vengeful chairman Mao would have got on well | Tania Branigan

Many see parallels with the architect of the Cultural Revolution. Both relished disruption and have exploited the power of the mobWhen rare protests flared in China in 2022, one slogan read: “We want reform, not a Cultural Revolution.” It alluded to complaints that the country’s leader, Xi Jinping, was behaving in an increasingly Mao-esque manner. His extraordinary dominance over his party, political repression, tight social controls and burgeoning personality cult all lent themselves to comparison with the man who ruled China for decades.Yet Xi is committed to order and discipline, exerting authority through the organs of the Communist party. Mao Zedong relished disruption and turned to the power of the masses. That’s why, increasingly, many in China are comparing Mao to another modern-day leader. Despite the ferocity of Donald Trump’s trade war, they are perhaps just as shocked by what he is doing to his own country. They see a proud nation felled not by an external threat, but by...

Politics

15 h. ago Hedge fund billionaire says US may face ‘worse than a recession’ from Trump tariffs

Ray Dalio’s comments come after rocky week across stock markets after policies including 145% tariff raise on ChinaPeople in the US: tell us how you think Trump’s first 100 days have gone so farBillionaire investor Ray Dalio said that he is worried the US will experience “something worse than a recession” as a result of Donald Trump’s trade policies.Speaking to NBC’s Meet the Press on Sunday, the 75-year-old hedge fund manager said: “I think that right now we are at a decision-making point and very close to a recession. And I’m worried about something worse than a recession if this isn’t handled well.” Continue reading...

Economics

22 h. ago Trump adviser Peter Navarro says ‘we’re great’ after Elon Musk calls him ‘moron’

‘I’ve been called worse,’ says top trade adviser after Musk said he was a ‘moron’ and ‘dumber than a sack of bricks’Peter Navarro, a top trade adviser to Donald Trump, said he and Elon Musk are “great” after the president’s multi-billionaire business adviser publicly called him “a moron” who was “dumber than a sack of bricks”.“I’ve been called worse,” Navarro said Sunday on NBC’s Meet the Press in some of his most extensive remarks about the insults Musk directed at him days earlier. Praising Musk’s role in the so-called “department of government efficiency” (Doge), Navarro added: “Everything’s fine with Elon.” Continue reading...

Politics

23 h. ago UK and G7 allies look at lowering ‘meaningless’ cap on Russian oil exports

Limit of $100 a barrel said to be ineffective with the price of crude having crashed in response to Trump’s trade warThe UK and its G7 allies are considering tightening the “meaningless” cap on Russian oil export prices after Donald Trump’s trade war caused global oil markets to crash.UK Treasury officials are understood to be looking at plans to lower the $60 (£46) a barrel cap Russianexports after the oil market plunged this week to $59.77 a barrel for the first time in more than four years. Continue reading...

Politics

34 h. ago As tariffs put trade between China and the US in peril, Chinese businesses ponder the future

The 145% tariff from the U.S. and the retaliatory 125% tariff from China are putting businesses doing trade between the U.S. and China on edge

Economics

34 h. ago Donald Trump’s tariff trade war wipes over £11bn off Scottish pension funds

SUNDAY MAIL EXCLUSIVE: Scots retirement savings on frontline of US president's 'daft' trade war as experts confirm multi-billion pound hit.

Economics

48 h. ago ‘It’s going to be messy’: Americans on how Trump’s tariffs are shaping their spending

Fallout from Trump’s trade war is forcing some Guardian readers to cut back or stock up on items from food to carsA few weeks ago, Dane began stocking up on “paper products”, “cases of paper towels, toilet paper”, “piddle-pads” for their shih-tzu, and his wife upgraded from an iPhone 8 to 14.The 73-year-old in South Carolina said the purchases – which were made to get ahead of Donald Trump’s trade policies – reminded him of the early weeks of the Covid pandemic, when he scrambled to buy masks, gloves and toilet paper. Continue reading...

Politics

49 h. ago ‘A new golden age’: how rightwing media stuck by Trump as global markets collapsed

Trump’s tariffs were sometimes played down, sometimes cheered but rarely seriously questioned by the rightWhile Donald Trump recently instituted and paused hefty tariffs, sparking a trade war and chaos in financial markets, most of the country’s conservative media either applauded the US president or critiqued the policy but not the person behind it, according to journalists and observers of conservative media.Meanwhile, economists, business leaders, Democrats and even some Republicans warned that the tariffs, which prompted the largest American stock market drop since the start of the Covid-19 pandemic, could cause a recession. Continue reading...

Politics

62 h. ago Growth boost for UK 'could be a false dawn' as investment banks downgrade forecasts for UK amid Donald Trump's trade war

It came as US investment bank Goldman Sachs as well as Germany 's Deutsche Bank both downgraded forecasts for the UK amid Donald Trump 's trade war.

Politics

68 h. ago White House says there is ‘great optimism’ in the economy despite ongoing market volatility – business live

Markets pick up slightly after earlier falls amid increasing fears of recession while White House insists Trump’s tariffs are ‘proven economic formula’US stocks fall again after rally following Trump’s shock retreat on tariffsWhat are bonds and why have they spooked Donald Trump?The US dollar slumped on Friday as waning confidence in the US economy prompted investors to ditch US assets to the benefit of safe havens like the Swiss franc, yen and euro, as well as gold.The yellow metal recorded a new all-time peak in early Asia trade, and the franc notched a fresh decade high, Reuters reports.There has been a pronounced ‘sell US’ vibe flowing through broad markets and into the classic safe-haven assets, with the USD losing the safe-haven bid. Continue reading...

Economics

3 d. ago Donald Trump trade war: Why the price of gold spiking should worry you

Gold prices are soaring on the back of the financial meltdown sparked by Donald Trump's trade war. Even if you don't own any, it's an economic indicator that you probably shouldn't ignore

Politics

3 d. ago Tesla stops taking orders in China for two models imported from US

Carmaker removes ‘order now’ buttons for Model S saloon and Model X SUV on its Chinese website amid tariffs warBusiness live – latest updatesTesla has stopped taking orders in China for two models it previously imported from the US, as companies scramble to adapt to prohibitive tariffs imposed in Donald Trump’s trade war.The manufacturer, run by Trump’s close ally Elon Musk, removed “order now” buttons on its Chinese website for its Model S saloon and Model X sports utility vehicle. Continue reading...

Politics

3 d. ago More Brits rush to buy gold which hits record high price as Trump tariffs war wipes trillions off shares

Investors are also piling into buying the Swiss franc and the yen while the US dollar has slumped amid the US president’s trade chaos

Economics

3 d. ago China hits back at US with 125% tariffs as Xi Jinping warns Donald Trump ‘there are no winners in trade war’

The move announced on Friday is the latest tit-for-tat retaliatory tariffs hike in a growing trade war between the two superpowers

Events

3 d. ago The price of gold has hit a record high. Here’s why and the ways to invest

The precious metal has long been considered a ‘safe haven’ during times of uncertainty - and the current trade war is no different

Economics

3 d. ago Nigel Farage compares Donald Trump to LIZ TRUSS and warns the US might not win trade war with China

Nigel Farage moved to distance himself from his long-term ally as he admitted he had never seen the kind of chaos that has gripped markets in the wake of 'Liberation Day'.

Events

3 d. ago China announces countermeasures by raising tariffs on US goods from 84% to 125% from Saturday

China has announced countermeasures by raising tariffs on U.S. goods from 84% to 125% starting Saturday

Politics

3 d. ago Gold hits record high as Donald Trump trade war with China intensifies

The price of the precious metal rose to above $3,200 an ounce as investors flock to the so-called 'safe haven' asset in the wake of the trade war between Washington and Beijing

Events

3 d. ago Greater Manchester businesses quizzed as Donald Trump tariffs 'reshape national trade'

"The United States is Greater Manchester's largest trading partner, and the tariffs present significant hurdles for businesses"

Politics