4 h. ago Hedge fund Elliott turns up heat on BP with demand for deep spending cuts

US activist discloses 5% stake and warns pivot back to oil and gas does not go far enough

Economics

5 d. ago Temu and Shein drop US ad spending as they face tariffs on even small sales

E-tailers also hiking prices after Donald Trump ends ‘de minimis’ exemption for cheap shipments from China and Hong KongTemu and Shein are cutting back their spending on US social media advertising as they lose an exemption on tariffs for many of their shipments from China and Hong Kong.The online e-tailers, both of which ship low-priced China-made goods direct to US shoppers, had been on an ad spree until recently. But under an executive order from Donald Trump, as of 2 May their sales valued at under $800 will no longer be exempt from US tariffs. Continue reading...

Economics

5 d. ago UK advertisers cut spending for the first time in four years on tariff turmoil

More companies are reducing ad budgets than increasing them, trade body finds

Economics

6 d. ago Dutton admits he made mistake on Indonesia in ABC leaders’ debate as Albanese evasive on electricity prices

Opposition leader also says ‘I’ll let scientists pass that judgment’ when asked if climate change impacts getting worse in second showdownPolls tracker; election guide; full federal election coverageAnywhere but Canberra; interactive electorates guideListen to the first episode of our new narrative podcast series: GinaGet our afternoon election email, free app or daily news podcastPeter Dutton has admitted he made a mistake by wrongly claiming the Indonesian president had announced a proposal for Russia to base military aircraft in Indonesia, and declined to state whether the impacts of climate change were getting worse.The opposition leader has also confirmed his plan to reduce the size of the federal public service by 41,000 positions by 2030 would not pay for the entirety of the Coalition’s policy platform, suggesting further cuts to government spending may be necessary.Sign up for the Afternoon Update: Election 2025 email newsletter Continue reading...

Politics

8 d. ago Trump memo outlines plan to slash US state department budget in half

Cuts would mean dramatic decreases in funding for humanitarian aid, global health and international groupsThe Trump administration is reportedly proposing to slash the state department budget by nearly half in a move that could drastically reduce US international spending and end its funding for Nato and the United Nations, according to an internal memorandum.The memo based on spending cuts devised by the White House office of management and budget envisions the total budget of the state department and USAID, the main foreign assistance body which has been largely dismantled by Elon Musk’s “department of government efficiency”, or Doge, being reduced to $28.4bn, a reduction of $27bn or 48% from what Congress approved for 2025. Continue reading...

Politics

1 week ago A win for Mike Johnson? The finish line of the speaker’s budget marathon is still far in the distance

ANALYSIS: The GOP has a long way to go before legislation extending the Trump tax cuts and cutting federal spending makes it into law, writes John Bowden

Politics

1 week ago House passes budget resolution, paving way for Trump tax and spending cuts – live

Resolution adopted in a 216-214 vote, with two Republicans joining all Democrats to vote against itThe House on Wednesday passed a bill restricting district court judges from issuing nationwide injunctions in a move that would vastly diminish the ability of courts to block Donald Trump’s policies, The Hill reports.Dubbed the No Rogue Rulings Act, the legislation would limit judges to providing relief only to parties directly involved in the suit. It passed in a 219-213 vote.Since President Trump has returned to office, left-leaning activists have cooperated with ideological judges who they have sought out to take their cases and weaponize nationwide injunctions to stall dozens of lawful executive actions and initiatives.These sweeping injunctions represent judicial activism at the worst.My colleagues on the other side of the aisle want you to believe that somehow these nationwide injunctions being issued by courts across the country against Donald Trump’s illegal and unconstitutiona...

Economics

1 week ago House passes budget framework in tense vote after Mike Johnson wins over conservatives

Speaking alongside Senate’s John Thune as holdouts balk over deficit spending, Johnson promises final budget will include steep cuts

Politics

1 week ago House Republicans scuttle MAGA budget vote after Mike Johnson fails to win over holdouts

House speaker comes up short ahead of vote to extend Trump tax cuts on the back of spending reductions

Politics

1 week ago Mike Johnson calls budget vote despite Republican anger over Medicaid cuts and deficit

Johnson advances plan to extend Trump tax cuts on the back of spending cuts while Republicans on both ends of the spectrum threaten rebellion

Politics

2 w. ago Cool runnings: how to cut time and waste by making the most of your freezer

From planning ahead and avoiding freezer burn to creating flavour bombs in ice trays, here are some expert tipsPreparing meals in advance and portioning out meat, fruit and vegetables to be frozen can save money, avoid waste and cut the time you spend cooking. Continue reading...

Politics

2 w. ago Trump’s tariffs squeezes Republicans as they struggle to pass his agenda

Analysis: Trump’s tariffs are making it harder for Republicans to cut taxes and spending, Eric Garcia writes

Politics

2 w. ago Trump’s tariffs squeeze Republicans as they struggle to pass his agenda

Analysis: Trump’s tariffs are making it harder for Republicans to cut taxes and spending, Eric Garcia writes

Politics

2 w. ago SNP demand for Rachel Reeves to tax the rich to stop further Scotland spending cuts

The Scottish Government has called for a wealth tax to be introduced to protect public services.

Economics

3 w. ago Six in 10 people will spend on ‘bucket list’ dream activities in 2025 – survey

Nearly half of people are planning to spend more on experiences this year and some will cut back on other spending to do so, according to Mastercard.

Politics

3 w. ago Elon Musk claims all those who complain about DOGE cuts are ‘fraudsters’

Musk says only ‘fraudsters’ should be concerned about his work cutting federal spending

Politics

3 w. ago Elton John declares he will 'fight' President Donald Trump over cuts to AIDS relief spending as he warns 'people's lives are at stake'

Sir Elton John said he is ready to 'fight' and go 'face to face' with President Trump over cuts to AIDS relief spending.

Events

3 w. ago White House pulls Elise Stefanik nomination as UN Ambassador so she can stay in the House to pass tax cuts and spending package

The House GOP’s slim majority could be harmed by Stefanik decamping for a cabinet post

Politics

3 w. ago UK politics live: Rachel Reeves may raise taxes ‘even further’ in autumn budget, IFS warns

Ms Reeves has denied there would be further tax rises or spending cuts at the Budget in the autumn but stopped short of ruling them out entirely

Events

3 w. ago Wealthy and pensioners at risk of new tax raid in autumn Budget, experts warn

Labour chancellor has stopped short of ruling out further tax rises or spending cuts at the Budget

Events