57 h. ago US jobs market slows down as businesses cope with Trump trade war uncertainty

May’s jobs report was dragged down by loss of 22,000 federal workers’ jobs as Doge cut positionsThe US economy added 139,000 jobs in May, a slowdown compared with recent months as American businesses cope with uncertainty around Donald Trump’s continuing trade war.After signs of a strong labor market in April – which was largely seen as resiliency against teetering trade policy from the White House – May saw a drop in new jobs added to the labor market, according to new data from the Bureau of Labor Statistics. The unemployment rate remained steady at 4.2%, unchanged from last month. Continue reading...

Politics

66 h. ago Takeaways from AP's report on the business interests of Trump's surgeon general pick

President Donald Trump’s pick to be the next U.S. surgeon general has repeatedly said the nation’s medical and food systems are corrupted by special interests and people out to make a profit at the expense of Americans’ health

Politics

3 d. ago Donald Trump to meet Xi Jinping in China after ‘very good’ call on trade

US president says he accepted invitation in first phone conversation between leaders since JanuaryDonald Trump said he had accepted an invitation to meet Xi Jinping in China after a phone conversation on trade was held between the leaders of the world’s two largest economies.In a post on Truth Social, the US president said the “very good” call lasted about 90 minutes and the conversation was “almost entirely focused on trade”. Continue reading...

Politics

3 d. ago Trump says he'll visit China with Melania after 'very good' phone call with Xi Jinping to work out trade deal

President Donald Trump confirmed Thursday that he had spoken by phone with Chinese President Xi Jinping amid trade uncertainty.

Economics

3 d. ago ECB cuts interest rates to 2% in effort to bolster flagging eurozone growth

European Central Bank makes eighth quarter-point cut in a year as bloc reels from impact of Trump’s trade warsBusiness live – latest updatesThe European Central Bank has cut interest rates to 2% in an effort to boost flagging economic growth across the eurozone.The ECB, making its eighth quarter-point cut in a year, said the 20-member currency bloc needed a reduction in the cost of borrowing as it reeled from the damage caused by Donald Trump’s trade wars. Continue reading...

Politics

3 d. ago How Nintendo dodged Trump’s tariffs and saved the Switch 2 release

Fortunate timing and government hesitation allowed the Switch 2 to come out on time, but the headache isn’t overNintendo fans across the US are breathing a sigh of relief as they tear apart the boxes housing their new Nintendo Switch 2 video game consoles. On-again, off-again trade tariffs implemented by Donald Trump, which precipitated pre-order delays from Nintendo, made the 5June release date of the highly coveted hardware feel more like a hope than a certainty. A potential price hike up from $450 loomed over launch day, but would-be buyers’ fears did not come to fruition.Nintendo’s maneuvering around Trump’s tariffs isn’t over, though – far from it. The Japanese console maker managed to luckily launch its device squarely within a 90-day tariff pause issued by the president. If tariffs on countries like India and Japan return to the levels proposed during Trump’s “Liberation Day” speech at the start of April, however, experts say Nintendo will have to limber up for yet another de...

Politics

3 d. ago Europe's central bank expected to lower interest rates as Trump's trade war threatens growth

Lower inflation and concern that U.S. President Donald Trump’s trade war will slow already modest growth have cleared the way for the European Central Bank to cut interest rates at Thursday’s policy meeting, a step that would lower borrowing costs for consumers and businesses and promote economic activity

Events

4 d. ago Keir Starmer promises Donald Trump trade deal will be in force in 'very short time'

The PM insisted the government is "working on it" to bring steel tariffs down to zero - as he promised when the deal was announced last month

Politics

5 d. ago US job openings rose in April, signaling resilience in the American labor market

U.S. job openings rose unexpectedly in April, showing that the labor market remains resilient in the face of uncertainty arising from President Donald Trump’s trade wars

Politics

5 d. ago The US is heading for a sharp economic downturn, influential global organization warns

Donald Trump's aggressive trade policies has sent the global economy into a downturn, the OECD warned in a major report on Tuesday. 

Events

5 d. ago UK firms taking early action as they brace for hits from tariffs – survey

The latest Barclays business prosperity report found 79% of firms are concerned about the global trade war sparked by US President Donald Trump.

Economics

5 d. ago Bank of England chief warns interest rate cuts now 'more uncertain' as OECD downgrades growth forecasts and says inflation will 'linger'

Andrew Bailey said the prospects for easing the burden on Brits was 'shrouded in a lot more uncertainty', largely due to Donald Trump 's trade war.

Events

5 d. ago Global economy to slow as Donald Trump’s trade wars hit growth, OECD warns – business live

Rolling coverage of the latest economic and financial news, as OECD forecasts global growth will slow to 2.9% in 2025 and 2026UK will slump to 1% growth next year as Trump tariffs bite, says OECDUS firms say Trump trade war is hitting production as dollar nears three-year lowUS economic growth is expected to slow markedly to 1.6% in 2025 and 1.5% in 2026, the OECD says.That’s relatively weak growth by recent standard, and slower than the “robust” growth of 2.8% recorded in 2024.Annual headline inflation is set to pick up to 3.9% by end-2025 due to higher import prices but is expected to ease throughout 2026, aided by moderate GDP growth and higher unemployment.Risks to the growth projection are skewed to the downside, including a more substantial slowing of economic activity in the face of policy uncertainty, greater-than-expected upward pressure on prices from tariff increases, and large financial market corrections. Continue reading...

Events

5 d. ago UK will slump to 1% growth next year as Trump tariffs bite, says OECD

US, Mexico and Canada economies likely to be worst affected by ongoing tariff battles, says forecastBusiness live – latest updatesThe UK’s economic growth will be slower than expected this year and next as the damage caused by Donald Trump’s tariff war hits trade and investment, according to a gloomy forecast by the Organisation for Economic Co-operation and Development (OECD).The international body downgraded its expectations for this year and next from a forecast made in March, pushing down UK growth from 1.4% to 1.3% in 2025 and from 1.2% to 1% next year. Constraints on Whitehall spending and higher than expected inflation also played a part in a downgrade, the OECD said. Continue reading...

Politics

5 d. ago Countries given Wednesday deadline for their ‘best offers’ to avoid tariffs: report

The reported letter may be a sign of Donald Trump’s eagerness — or, perhaps, desperation — to secure trade deals before his 90-day tariff pause expires on July 9

Events

6 d. ago US firms say Trump trade war is hitting production as dollar nears three

Manufacturing survey signals third monthly decline in output in a row amid uncertainty over tariffsUS manufacturers have warned that Donald Trump’s trade war is hitting production, pushing the dollar close to a three-year low against sterling on Monday.The greenback suffered a fresh sell-off, after the closely watched ISM survey of the manufacturing sector signalled a third monthly decline in output in a row. Continue reading...

Events

7 d. ago Trump's tariff czar reveals the four countries on verge of trade deals including a 'nasty' one

President Donald Trump's top trade negotiator shared that the U.S. may be close to finalizing tariff deals with several major partners.

Economics

9 d. ago Donald Trump accuses China of ‘totally violating’ tariffs deal with US in blow to moves to avoid trade war

Trade talks between Washington and Beijing were said to be a ‘bit stalled’

Economics

1 week ago The Guardian view on Trump’s tariffs: the courts have drawn a line. So must Congress | Editorial

The worst of all outcomes would be for US legislators to agree to strengthen the president’s executive powersIf one thing is more challenging to the rule of law than a genuine emergency, it is the invention of a phoney one. Since returning to the White House in January, President Donald Trump has upended global trade and international relations, wiping billions off the stock market in the process, by imposing tariffs that he claims are a necessary response to an emergency. Yet that emergency does not really exist, except in the manner that Mr Trump himself has created it.The president claimed, on 2 April, that a lack of reciprocity in US overseas trade arrangements was “an unusual and extraordinary threat to the national security and economy of the United States”. He claimed that this justified him in declaring an emergency and governing by executive decree under the 1977 International Emergency Economic Powers Act (IEEPA). Congress, which normally has the responsibility to decide U...

Politics

1 week ago Trump officials to ask supreme court to halt bid by ‘activist judges’ to block tariffs

Administration intends to ask top court to immediately pause trade court’s ruling that tariffs regime was illegalQ&A: Why has a US court blocked Donald Trump’s tariffs – and can he get round it?US politics live – latest updatesThe Trump administration intends to ask the US supreme court to immediately pause what it characterised as a bid by “activist judges” to block Donald Trump’s sweeping tariffs.A US trade court ruled the US president’s tariffs regime was illegal on Wednesdaya dramatic twist that could block Trump’s controversial global trade policy. Continue reading...

Politics