63 m. ago Trump says he does not know if El Salvador would return Kilmar Ábrego García and hasn’t asked – live

Trump said he hasn’t spoken to Bukele about mistakenly deported man – despite supreme court order requiring administration to facilitate returnKristi Noem says Ábrego García would be deported immediately if sent back to USTrump pressures journalist to accept doctored photo as realDonald Trump promptly claimed this morning that the contraction in the US economy had nothing to do with his tariff wars, repeated his habitual claim that this is all somehow his predecessor Joe Biden’s fault, and predicted the economy would boom when tariffs kicked in. He wrote on his Truth Social platform:This is Biden’s Stock Market, not Trump’s. I didn’t take over until January 20th. Tariffs will soon start kicking in, and companies are starting to move into the USA in record numbers. Our Country will boom, but we have to get rid of the Biden “Overhang.” This will take a while, has NOTHING TO DO WITH TARIFFS, only that he left us with bad numbers, but when the boom begins, it will be like no other. BE P...

Politics

87 m. ago World's biggest hedge fund boss warns it's 'too late' to fix Trump's tariff damage

A hedge fund manager, who previously joined a chorus of analysts correctly warning about the 2008 great recession, is speaking out again.

Events

1 hour ago Trump is already blaming Biden for future economic woes as he meets with Cabinet to mark 100 days: Live updates

President tries to deflect blame to predecessor as new GDP figures show U.S. economy contracted for first time in three years

Politics

3 h. ago Trump tries to blame Biden after U.S. economy shrinks amid fears of tariff

President tries to deflect blame to predecessor as new GDP figures show U.S. economy contracted for first time in three years

Politics

3 h. ago AP PHOTOS: US stocks sink after a weak report on the economy

U.S. stocks are sinking following a discouraging report suggesting the U.S. economy may have shrunk at the start of the year, before most of U.S. President Donald Trump’s announced tariffs could take effect.

Culture

4 h. ago Wall Street falls while FTSE 100 regains losses after US economy shrinks

The American economy contracted by 0.3% in the first three months of the year amid Donald Trump’s threats of sweeping trade tariffs.

Economics

4 h. ago Trump tries to blame Biden for economic slump, promising ‘boom like no other’ when tariffs kick in: Live updates

President tries to deflect blame to predecessor as new GDP figures show U.S. economy contracted for first time in three years

Politics

5 h. ago How your cup of coffee might become more expensive thanks to Donald Trump

President Donald Trump's current 10 per cent tariffs cover most coffee-producing countries and are expected to drive up costs

Politics

5 h. ago US economy contracts at 0.3% rate as Trump’s tariffs prompt import surge

First-quarter figures affected by stockpiling but other indicators remain strong

Politics

5 h. ago Trump 100 days: tariffs, egg prices, Ice arrests and approval rating – in charts

The first few months have seen record-breaking use of executive powers – here are some of the outlying trendsTrump 100 days: inside Trump’s whirlwind start to his second presidencyWhen reading a chart, an outlier is often the first thing you notice. The first 100 days of Donald Trump’s second term has been full of them: immigration arrests spiking. Markets falling. Emission trends reversing. Hundreds of day one pardons to insurrectionists. Record-breaking use of executive powers. Continue reading...

Politics

5 h. ago UPS cites Trump tariffs as it announces expected layoffs of 20,000 workers

Company cites ‘current macro-economic uncertainty’ as sweeping tariffs discourage customers from shippingBusiness live – latest updatesThe United Parcel Service (UPS) is expected to cut about 20,000 jobs in 2025 as a part of a larger plan to reduce costs and increase profit, citing “changes in the global trade policy and new or increased tariffs”.UPS announced the layoffs on Tuesday in its first quarter earnings report. The parcel delivery service said it made consolidated revenues of $21.5bn, compared with $21.7bn about the same time a year ago. Additionally, the company said it would be shuttering 73 leased and owned buildings by the end of June of this year. Continue reading...

Politics

6 h. ago US inflation cools, consumer step up spending, as Americans brace for tariff impact

A closely watched inflation gauge cooled last month in a sign that prices were steadily easing before most of President Donald Trump’s tariffs were implemented

Economics

6 h. ago More than 60 percent of toymakers forced to cancel orders as Trump’s tariffs threaten Christmas

‘We have a frozen supply chain that is putting Christmas at risk,’ a Toy Association executive said

Politics

6 h. ago US economy contracts at 0.3% rate as Trump tariffs prompt import surge

Annualised first-quarter figure comes below expectations and contrasts with previous growth

Politics

6 h. ago U.S. economy shrinks for first time in three years as Trump’s tariffs spark trade war fears

The American economy shrank by 0.3 percent during the first quarter of this year, marking the first drop in three years as President Donald Trump’s tariff policies disrupted businesses and their supply chains.

Politics

7 h. ago US economy shrinks in first quarter of Trump 2.0 amid sweeping tariffs

Drop comes amid a huge fall in consumer sentiment which in April dropped 32% to lowest level since 1990 recessionThe US economy shrank in the first three months of Donald Trump’s second term as the president sought to roll out an aggressive trade strategy, claiming that sweeping tariffs on the world would strengthen the US economy.Gross domestic product (GDP), a key measure of overall growth in the US economy, fell by 0.3% in the first quarter of the year, down from 2.4% in the last quarter of 2024. The contraction – the first since the start of 2022 – puts the US on the brink of a technical recession, defined by two quarters of negative growth. Continue reading...

Politics

7 h. ago US economy contracted at 0.3% rate in first quarter ahead of Trump tariffs

Annualised figure comes below expectations and contrasts with previous growth

Politics

7 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

10 h. ago China calls US a 'small, stranded boat' and vows not to 'kneel down' to Washington 'bullying' in incendiary new video amid soaring tensions sparked by Trump's tariffs

The clip, published by China's foreign affairs ministry and entitled 'Never Kneel Down', sought to cast Beijing as a defender of those targeted by US imperialism

Politics

10 h. 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