9 h. ago Donald Trump's tariffs puncture US car industry downgraded by Barclays to 'negative'

Goldman Sachs has cut its estimate for automobile sales in the US for this year by nearly 1 million units

Politics

13 h. ago Starmer’s ambitions for a Trump trade deal have a big problem – JD Vance

Insiders have told The Independent that if you want to know what Trump is really thinking, listen to what JD Vance is saying. That is very bad news for Starmer, as David Maddox explains

Politics

32 h. ago Goldman Sachs’ chief hopeful Trump will listen to corporate America

David Solomon warned of risk of uncertainty, even after bank reported first-quarter results boosted by market volatility

Politics

3 d. ago Listen to Trump's education secretary, 76, repeatedly make extraordinary 'boomer gaffe' while hailing new technology

McMahon, 76, repeatedly made the gaffe while speaking at the ASU+GSV education summit in San Diego earlier this week

Politics

4 d. 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

6 d. ago Uncertainty persists even after Trump’s ‘capitulation to markets’, investors say

Goldman Sachs rapidly reverses call for recession after president’s U-turn

Economics

7 d. ago Musk reportedly made several pushes for Trump to back off global tariffs surge

Musk’s unsuccessful attempts may be sign of growing rift between US president and tech billionaireElon Musk made personal, repeated attempts to try to get Donald Trump to back off from the wave of global tariffs that have created turmoil in international markets, it was reported on Tuesday.Musk’s failure to get Trump to listen, however, is evidence to some observers of a growing rift between the US president and the world’s richest person, who has been leading the White House’s efforts to curb federal spending as head of the unofficial department of government efficiency (Doge). Continue reading...

Politics

8 d. ago Goldman Sachs says it will forecast recession if most of Trump’s tariffs take effect

Investment bank forecasted increased odds of a recession twice in a one-week span

Politics

8 d. ago Corporate America won’t stop Trump’s tariffs. Here’s why | Alex Bronzini

Whether among executives, lobbyists or university trustees, an elite backlash to the Trump administration won’t work. It’s up to working people to resistFew historical analogies exist for Donald Trump’s newly announced tariffs. The investment bank Evercore estimates that the so-called “liberation day” announcement has raised the weighted average US tariff to 29% – its highest rate since 1900. To call it a generational action would be an understatement; my grandmother was born in 1939.These tariffs, if they remain in place, will raise prices, eliminate jobs and shrink retirements. No one will pay for them more dearly than American workers. Yet a shock to capitalism inevitably raises the question of whether, and how, capitalists will respond. Faced with Trump’s tariffs, what will the US’s business class do? Continue reading...

Politics

1 week ago Corporate America fears wrath of Trump as it mulls tariffs response

Executives unsure how far to go in re-engineering their businesses and hope they can lobby US president to ease policies

Politics

1 week ago Interim chief of Renfrewshire Health and Social Care Partnership hopes to lead with 'compassion'

Carron O'Byrne took on the role at a time of unprecedented pressure on the sector.

Politics

2 w. ago Global cost of Trump trade war ‘could reach $1.4tn’; Goldman Sachs cuts UK growth forecast over tariff spillovers – business live

Rolling coverage of the latest economic and financial news, as UK business secretary warns Britain will be hit by ‘Liberation Day’ tariffsTrump prepares to unveil reciprocal tariffs as markets brace amid trade war fearsTrump’s new tariffs could backfire if they are set too high, explains Mark Haefele, chief investment officer at UBS Global Wealth Management:“Wednesday’s reciprocal tariffs could push the effective tariff rate another 4 percentage points higher. Anything further than that could move tariffs beyond a revenue-raising ‘sweet spot,’ in our view.Globally, the risk of high tariffs disrupting trade and economic activity would potentially offset any US federal revenue gains that the Trump administration seeks to use to further domestic policies.”“It appears tomorrow there’ll be no country in the world exempt from the initial announcements”.I tihnk that our trading relatinship is a very strong, and fair and balanced one, so I don’t think there is the need to do this. Continue ...

Economics

2 w. ago World markets and US dollar suffer worst monthly losses since 2022 as Trump tariffs fuel recession fears – business live

Shares slide after President Donald Trump says new reciprocal tariffs expected this week will include all nations, and Goldman Sachs say US recession more likelyWall Street shrinks in response to price pressures, stoking fears of Trump tariffsSwiss bank UBS has cut its forecast for the US stock market’s gains this year.Having previously forecast the S&P 500 shares index would end the year at 6,600 points (which would have been a 12% gain in 2025), UBS have now cut their end-year target to 6,400 points.“After considering the effects of tariffs and slower growth data so far in 2025, we now expect 6% earnings per share growth, and we have accordingly reduced our year-end target for the index to 6,400 (from 6,600).But this also means that there is still meaningful upside for broad US equities by year-end, in our view.”The Nikkei closed down 4%, while European indices are a sea of red. The sell off is broad based, with more than 550 of the Eurostoxx 600 stocks lower as investors take...

Economics