28 h. ago Puerto Rico seeks to lure manufacturing to boost its economy as Trump's tariff war deepens

A global trade war is offering Puerto Rico hope as the island attempts to strengthen its fragile economy

Economics

3 d. ago China and Russia pledge to deepen ties as they criticise US on Victory Day

In joint statement, Xi Jinping and Vladimir Putin accuse ‘certain countries’ of trying to ‘tamper with the results of the victory of the second world war’ China and Russia pledged to further deepen their already “no limits” partnership in a joint statement published ahead of Russia’s military parade on Friday, as the two sides stressed the importance of maintaining the “correct view” of second world war history.In a lengthy statement published during Xi Jinping’s visit to Moscow for the commemoration of the 80th anniversary of the end of the second world war, which Russia celebrates on 9 May as Victory Day, Xi and his Russian counterpart Vladimir Putin said “certain countries are attempting to tamper with the results of the victory of the second world war”. Continue reading...

Politics

1 week ago US treasury secretary urges Fed chair to cut interest rates as Trump claims shrinking economy isn’t related to tariff war – live

Bessent urges Powell to cut interest rates, echoing Trump’s demands; US president claims economic slowdown ‘nothing to do with tariffs’Trump’s tariffs: ‘It feels like Covid 2.0. So many things are getting disrupted’The Trump administration is seeking to strip collective bargaining rights from large swaths of federal employees in a test case union leaders argue is part of a broader attack on US labor unions that could land before the US Supreme Court.A Trump win would deliver a severe blow to labor unions in the US. Some 29.9% of all federal workers were represented by labor unions in 2024 compared to 11.1% for all US workers. Continue reading...

Society

1 week 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

1 week 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

1 week 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

1 week ago The EU can’t replace the US as a global player until it sheds its own colonial thinking | Shada Islam

Eurocentric assumptions and bullying resource-grabs are justified causes of outrage in the global southDonald Trump has disrupted the global economy with his disastrous tariff wars and appears hell-bent on gutting transatlantic relations. I am hoping he has also unwittingly injected new life into the EU’s struggle to wean itself off overreliance on Washington.A vast network of trade and aid agreements connects the EU with more than 70 countries. The union could become an important standalone global actor and even thrive in a multipolar world. But it must first shed its Eurocentric worldviews, complacent policymaking and double standards.Shada Islam is a Brussels-based commentator on EU affairs. She runs New Horizons Project, a strategy, analysis and advisory company Continue reading...

Sport

2 w. ago Dozens of members of UK Jewish body facing disciplinary action over criticism of Israel

Members of Board of Deputies who signed open letter about war in Gaza are now ‘subject to a complaints procedure’Three dozen members of the largest body representing British Jews are facing disciplinary action after signing an open letter criticising Israel over the war in Gaza.Amid signs of deepening divisions among British Jews over the 18-month-old war, the Board of Deputies announced this week that all 36 signatories to the letter were now “subject to a complaints procedure” after “multiple complaints”. Continue reading...

Politics

2 w. ago IMF forecasts three more Bank of England rate cuts this year

The International Monetary Fund has slashed its forecasts for the UK economy on the back of Donald Trump's trade tariff uncertainty warning the UK is likely to see an inflation spike

Politics

2 w. ago Britain's growth outlook is slashed 0.5% by IMF in fresh blow to Rachel Reeves as she jets off to Washington for crunch talks as Trump's tariff war tests 'resilience of global economy'

Britain's growth outlook has been downgraded by the International Monetary Fund in a fresh blow for Labour - as Donald Trump's tariff wars deliver a severe hit to the global economy.

Politics

3 w. ago Fears of the economy tanking are now higher than they were at the height of the Covid pandemic

Dismal fund manager sentiment comes as Federal Reserve warns of increased inflation and slowing growth due to tariffs

Events

3 w. ago China says economy beat expectations to grow 5.4% ahead of Trump tariff war

Beijing expects Trump tariffs to put ‘certain pressures’ on its trade and economy

Politics

3 w. ago Trump launches a queasy market on a wild tariff rollercoaster ride

Analysis: Trump’s constant tariff changes are keeping the world and economy off balance, warns Eric Garcia

Politics

3 w. ago Trump launches queasy market on a wild tariff rollercoaster ride

Analysis: Trump’s constant tariff changes are keeping the world and economy off balance, warns Eric Garcia

Politics

last month Trump’s tariff mess raises the danger of a US default | Lloyd Green

The US could breach the debt ceiling even sooner than predicted without action from Republicans“Trump backs down on tariffs, again. And it doesn’t look strategic,” a headline blared on Wednesday afternoon.At the end of trading, equities had recovered a portion of their losses. But plenty of damage had been done. Markets were thrown into turmoil, interest rates jumped and business activity took a hit. Beyond that, the possibility of a recession grew – and the possibility of a default by the US inched up to 6%, according to prediction markets. Continue reading...

Politics