16 h. ago Wall Street and European markets finish week on a high after US jobs report

FTSE 100 records its longest winning streak as Washington releases better-than-expected hiring figuresMarkets on both sides of the Atlantic rose on Friday after hiring in the US slowed less than expected in April, offering a glimmer of hope that the world’s largest economy was in a better-than-feared position to withstand the fallout from Donald Trump’s tariffs.On Wall Street the S&P 500 was up 1.5% and the Dow Jones rose 1.3% by early afternoon on Friday, while European markets closed sharply higher after official figures showed the US workforce grew by 177,000 last month. Continue reading...

Politics

20 h. ago US stocks wipe out steep losses that followed Trump’s ‘liberation day’

Rally in Wall Street’s S&P 500 share index comes after 177,000 jobs added in labour data

Politics

20 h. ago US economy beats expectations with 177,000 jobs added in April

Figures indicate labour market resilience despite Trump administration’s deep cuts to federal workforce

Politics

20 h. ago Markets rally after better than expected data shows US added 177,000 jobs in April – business live

Live, rolling coverage of business, economics and financial markets as US employment figures for April came in higher than expected with 177,000 jobs, boosting European markets as they hope for a thaw in US-China relationsEurozone unemployment was steady 6.2% in March – unchanged relative to a revised February reading.The youth unemployment rate was 14.2%, down from 14.3% in the previous month. Continue reading...

Society

24 h. ago UK to ban buying bitcoin on credit card; stocks rise on hopes of US

Live, rolling coverage of business, economics and financial markets as Financial Conduct Authority considers restricting use of credit to buy crypto; stock markets gain on hopes of US-China trade thawEurozone unemployment was steady 6.2% in March – unchanged relative to a revised February reading.The youth unemployment rate was 14.2%, down from 14.3% in the previous month. Continue reading...

Politics

25 h. ago Stock markets gain as China ‘evaluates’ offer of US trade talks – business live

Live, rolling coverage of business, economics and financial markets as FTSE 100 gains on hopes of US-China trade thaw; Shell profits drop 28% to $5.5bnCommodities companies are among the best performers on stock markets this morning.They would be among the best placed to benefit from the US backing down in its trade war with China. The FTSE 100 has a lot of Europe’s big mining listings, and they are leading the way on Friday. Continue reading...

Economics

26 h. ago Shell profits fall as big oil faces slump in prices; UK cuts NatWest stake below 2% – business live

Live, rolling coverage of business, economics and financial markets as FTSE 100 oil company profits drop 28% to $5.5bnStock markets have gained across Europe, as investors welcomed signs of a possible thaw in the trade war between the US and China.Germany’s Dax gained 1.2% in the early trades, while France’s Cac 40 was up 1.4% – after both were closed over the May Day bank holiday. The Stoxx 600 index, which tracks big companies across Europe, rose by 0.9%. The FTSE 100 was up 0.9%.“The US has recently taken the initiative on many occasions to convey information to China through relevant parties, saying it hopes to talk with China,” the statement said, adding that Beijing was “evaluating this”.“Attempting to use talks as a pretext to engage in coercion and extortion would not work,” it said.This optimism has continued overnight after China’s Ministry of Commerce said that it’s evaluating trade talks with the US. The ministry said this comes as “the US has recently sent messages to C...

Economics

48 h. ago Trump tariffs cause fastest slump in British factory export orders in five years – business live

Live, rolling coverage of business, economics and financial markets as UK manufacturers report falling export orders and China signals openness to US trade talks Fhaheen Khan, senior economist at Make UK, a lobby group for British manufacturing, said:UK manufacturers are caught in the eye of a perfect storm, with rising costs and international trade uncertainty undermining growth prospects. While actual changes in trade have been limited, the unpredictability, particularly around US tariff policy, is doing significant damage and paralysing decision makers. Many firms are delaying major investment decisions until greater clarity emerges, while being forced in the meantime to cut costs through redundancies while pushing through price increases.This has left manufacturing experiencing its most severe slowdown in years, with the UK at a competitive disadvantage compared to our European peers who are weathering current challenges relatively better. As a result, it is now vital that gover...

Politics

49 h. ago China hints at openness to trade talks with US; Tesla denies board search for Musk successor – business live

Live, rolling coverage of business, economics and financial markets as Chinese state-controlled social media says US has approached China for trade talksLloyds Banking Group has reported a 7% drop in pre-tax profit to £1.5bn in its first quarter, and is bracing for the ripple effect from Trump’s tariffs on its balance sheet.The high street bank said that it has set aside £309m to account for possible bad debts, compared with previous guidance of £274m, as it added a £35m net charge to prepare for the possible impact on the economic outlook from President Trump’s tariffs.The US has proactively reached out to China through multiple channels, hoping to hold discussions on the tariff issue.Yuyuan Tantian is not among China’s most authoritative state media outlets. The Global Times, which is owned by the newspaper of the governing Communist Party, People’s Daily, has often been first to report China’s next steps in trade disagreements over the past few years.Guo Jiakun, a spokesperson fo...

Politics

50 h. ago Tesla denies board search for Elon Musk’s successor; Trump tariffs to slash growth, says Bank of Japan – business live

Live, rolling coverage of business, economics and financial markets as US electric carmaker says report board is looking for next Tesla boss is ‘absolutely false’National Grid, the FTSE 100 company that owns the UK’s electricity network, has appointed Shell oil executive Zoë Yujnovich as chief executive after the retirement of John Pettigrew.Yujnovich was until recently working at FTSE 100 oil company Shell, where she was director of integrated gas and upstream (oil production) and a member of the executive committee. She previously led the Iron Ore company of Canada, part of Rio Tinto.I firmly believe in the vital function energy companies play in driving change and creating value. On both sides of the Atlantic National Grid has an essential role to play in making energy secure, affordable and reliable for our customers and communities. I’m excited about leading National Grid as it delivers on the growth opportunities ahead. Continue reading...

Economics

69 h. ago US GDP report to show if economy expanded in last quarter, after eurozone growth accelerates – business live

First estimate of US GDP for Q1 2025 will show whether tariffs hurt growthUK house prices fall but market ‘likely to pick up’ during summerChina manufacturing activity plummets amid Trump tariff warFrance’s economy is likely to “flirt with stagnation” throughout the year, despite the small rebound in GDP in the last quarter, predicts Dutch bank ING.Charlotte de Montpellier, ING’s senior economist for France and Switzerland, explains:The additional customs duties in the US and their direct and indirect impact will delay the French economy’s rebound. We estimate that the direct effect of a permanent 10% import duty in the US on French GDP (via a reduction in exports) will be around -0.1%.Adding to this are the effects of uncertainty, the global economic slowdown and more restrictive fiscal policy, all of which will weigh on French economic activity throughout the year. The cooling in the labour market is likely to limit the recovery in household consumption, and the savings rate is se...

Economics

3 d. ago France and Germany avoid recession as eurozone growth accelerates; Taiwan’s GDP boosted by pre

Rolling coverage of the latest economic and financial news, including growth figures from across EuropeUK house prices fall but market ‘likely to pick up’ during summerChina manufacturing activity plummets amid Trump tariff warFrance’s economy is likely to “flirt with stagnation” throughout the year, despite the small rebound in GDP in the last quarter, predicts Dutch bank ING.Charlotte de Montpellier, ING’s senior economist for France and Switzerland, explains:The additional customs duties in the US and their direct and indirect impact will delay the French economy’s rebound. We estimate that the direct effect of a permanent 10% import duty in the US on French GDP (via a reduction in exports) will be around -0.1%.Adding to this are the effects of uncertainty, the global economic slowdown and more restrictive fiscal policy, all of which will weigh on French economic activity throughout the year. The cooling in the labour market is likely to limit the recovery in household consumptio...

Politics

3 d. ago France and Germany avoid recession as economies return to growth; UK house prices drop – business live

Rolling coverage of the latest economic and financial news, including growth figures from across EuropeUK house prices fall but market ‘likely to pick up’ during summerChina manufacturing activity plummets amid Trump tariff warFrance’s economy is likely to “flirt with stagnation” throughout the year, despite the small rebound in GDP in the last quarter, predicts Dutch bank ING.Charlotte de Montpellier, ING’s senior economist for France and Switzerland, explains:The additional customs duties in the US and their direct and indirect impact will delay the French economy’s rebound. We estimate that the direct effect of a permanent 10% import duty in the US on French GDP (via a reduction in exports) will be around -0.1%.Adding to this are the effects of uncertainty, the global economic slowdown and more restrictive fiscal policy, all of which will weigh on French economic activity throughout the year. The cooling in the labour market is likely to limit the recovery in household consumptio...

Economics

3 d. ago France avoids recession as economy returns to growth; UK house prices drop – business live

Rolling coverage of the latest economic and financial newsChina manufacturing activity plummets amid Trump tariff warAverage UK house prices fell this month, lender Nationwide reports, after the rush to avoid an increase in stamp duty faded.According to Nationwide, house prices fell by 0.6% in April, with the average price dropping to £270,752 from £271,316 in March.Early indications suggest there was a significant jump in transactions in March, with buyers bringing forward their purchases to avoid additional tax obligations.“The market is likely to remain a little soft in the coming months, following the pattern typically observed following the end of stamp duty holidays. Nevertheless, activity is likely to pick up steadily as summer progresses, despite wider economic uncertainties in the global economy, since underlying conditions for potential home buyers in the UK remain supportive. Continue reading...

Economics

3 d. ago West End's Saville Theatre set for return of live shows after 55 years

The Saville Theatre was transformed into a two-screen cinema in 1970

Society

3 d. ago US trade deficit surges; Amazon accused of ‘hostile and political’ act for displaying tariff costs – business live

Rolling coverage of the latest economic and financial newsUK grocery inflation has edged up this month, as consumers are hit by rising food prices.Data provider Kantar has reported that supermarket prices rose by 3.8% per year in the four weeks to April 20, up from 3.5% a month earlier.“Chocolate confectionery prices rose by 17.4% this period, the fastest of any category, but that didn’t stop the British public treating themselves this Easter. The volume of chocolate eggs sold through supermarket tills still grew by 0.4% on last year, while at the dinner table lamb was the most popular fresh meat joint, followed by beef and pork.Some households chose to indulge in less seasonal fare as the sun came out and they dusted off the barbecue, with burger sales shooting up by 31% over the last month.”The way in which regulations are being applied to bioethanol is undermining the commercial viability of our business. We are having constructive discussions with the UK Government to explore re...

Economics

3 d. ago US trade deficit surges ahead of tariffs; China vows not to ‘kneel down’ – business live

Rolling coverage of the latest economic and financial newsUK grocery inflation has edged up this month, as consumers are hit by rising food prices.Data provider Kantar has reported that supermarket prices rose by 3.8% per year in the four weeks to April 20, up from 3.5% a month earlier.“Chocolate confectionery prices rose by 17.4% this period, the fastest of any category, but that didn’t stop the British public treating themselves this Easter. The volume of chocolate eggs sold through supermarket tills still grew by 0.4% on last year, while at the dinner table lamb was the most popular fresh meat joint, followed by beef and pork.Some households chose to indulge in less seasonal fare as the sun came out and they dusted off the barbecue, with burger sales shooting up by 31% over the last month.”The way in which regulations are being applied to bioethanol is undermining the commercial viability of our business. We are having constructive discussions with the UK Government to explore re...

Economics

4 d. ago HSBC sounds alarm on trade war; Trump to soften blow of automotive tariffs – business live

Rolling coverage of the latest economic and financial newsThe architect of BP’s failed green energy agenda will leave the embattled oil company within months as it continues its retreat from low-carbon investments following this morning’s sharp fall in profits (see last post).The oil company said Giulia Chierchia, the executive in charge of BP’s sustainability ventures, would step back from her role from 1 June 2025 to “pursue other opportunities” outside the company. She will not be replaced. Continue reading...

Events

4 d. ago US tariff war hurting trade with China; M&S tells hundreds of warehouse agency staff not to come to work after cyber

Rolling coverage of the latest economic and financial newsBack in Beijing, China’s foreign ministry has said President Xi Jinping had not spoken to Donald Trump.The ministry also denied that the two administrations are in talks to strike a tariff deal, which contradicts a claim from Trump last week.“As far as I know, the two heads of state have not called each other recently,“I would like to reiterate that China and the U.S. have not conducted consultations or negotiations on the tariffs issue. Continue reading...

Economics

5 d. ago US tariff war hurting trade with China; Beijing ‘confident’ of hitting growth targets – business live

Rolling coverage of the latest economic and financial newsShares in food delivery group Deliveroo have jumped by 17% at the start of trading in London, after receiving a takeover approach from US rival DoorDash.On Friday night, the news broke that DoorDash had offered to buy Deliveroo for $3.6bn (£2.7bn). Continue reading...

Events