6 d. ago Growing global trade war threatens to undermine maritime emissions

Growing global trade war threatens to undermine maritime emissions-cutting talks in London  Fortune

Events

1 week ago Trump hits UK with 10% tariffs as he ignites global trade war

Britain gets off comparatively lightly but US president’s action could still cost billions in lost growthUS politics – latest updatesDonald Trump has hit the UK with tariffs of 10% on exports to the US as he ignited a global trade war that could wipe billions off economic growth.The US president accused other nations, including allies, of “looting, pillaging, raping and plundering” the US, as he announced tariffs on economic rivals including 20% on the EU and 34% on China as part of what he dubbed “liberation day”. Continue reading...

Events

2 w. ago China’s Xi urges global CEOs to protect trade supply chains; UK’s 2024 growth revised higher, but households hoard cash – business live

Rolling coverage of the latest economic and financial newsOver in Germany, the number of people out of work has risen at the fastest rate since October of 2024.The German labour office said the number of unemployed increased by 26,000 in seasonally adjusted terms to 2.92 million. Analysts polled by Reuters had expected that figure to rise by 10,000.“March marks the start of the so-called spring recovery on the labour market. This year, however, the economic slump is noticeably slowing it down.”One bright spot was the impressive 1.9% q/q (CE forecast 0.7% q/q) rise in consumers’ real incomes in Q4. The 4.2% rise in 2024 as a whole suggests households experienced the strongest real income growth in nine years.With consumer spending hardly rising, at 12.0% in Q4 (up from 10.3% in Q3), the saving rate remains unusually high, suggesting households are choosing to save rather than spend the bulk of those gains. Continue reading...

Economics

2 w. ago China’s Xi urges global CEOs to protect trade supply chains; UK’s 2024 growth revised higher – business live

Rolling coverage of the latest economic and financial newsToday’s UK national accounts data also shows that people stashed away more of their money into savings at the end of last year.The household saving ratio, which measure the proportion of income that is saved, rose to 12% in October-December 2024, up from 10.3% in the third quarter of last year.One bright spot was the impressive 1.9% q/q (CE forecast 0.7% q/q) rise in consumers’ real incomes in Q4. The 4.2% rise in 2024 as a whole suggests households experienced the strongest real income growth in nine years.With consumer spending hardly rising, at 12.0% in Q4 (up from 10.3% in Q3), the saving rate remains unusually high, suggesting households are choosing to save rather than spend the bulk of those gains.Non-food stores – the total of department, clothing, household and other non-food stores – rose by 3.1% over the month. This put monthly sales volumes at their highest level since March 2022.“The exceptional volatility in rec...

Economics

3 w. ago Investors slash US equity holdings by most ever, BofA survey shows

Threat to global growth from Trump’s trade tariffs sparks ‘bull crash’ in fund manager sentiment

Economics

4 w. ago Trump’s escalating trade war will damage global growth, OECD warns

Forecasts downgraded for a dozen G20 economies and alarm sounded on ‘ratcheting up’ of trade barriers

Events

4 w. ago Trump trade wars are slowing global growth and fuelling inflation, says OECD

Economic organisation downgrades forecasts for growth in UK as well as US, Canada and Mexico due to tariffsBusiness live – latest updatesDonald Trump’s trade wars are splintering the global economy and unpicking progress made to reboot growth and tackle inflation, the Organisation for Economic Co-operation and Development (OECD) has warned.In its latest update on the health of the world economy, the leading Paris-based institution downgraded the prospects for global growth this year and next, including a sharp hit to activity in the US, Canada and Mexico. Continue reading...

Politics

4 w. ago UK and global growth forecasts cut amid warnings over Trump’s trade war

The OECD warned that consumers would face much of the burden of the trade war as inflation is expected to be sent surging.

Events