2 h. ago Trump news at a glance: Wild swings on global markets as Trump threatens further China tariffs

Extreme volatility has plagued global stock markets, with Donald Trump defying stark warnings about economic damage – key US politics stories from 7 April Global stock markets fell catastrophically on Monday following President Trump’s tariff rollout.Despite the economic turmoil, the US president doubled down on his plan, threatening to impose an additional 50% tariff on imports from China on Wednesday, unless the country rescinds its retaliatory tariffs on the United States by Tuesday. Continue reading...

Politics

8 h. ago Volatility grips global stock markets as Trump insists on tariff ‘medicine’

Wall Street swings in and out of red as turmoil from US president’s assault on world trade enters second weekTrump threatens additional 50% tariffs on China over retaliatory leviesWhich Trump-backing billionaires have lost the most?Extreme volatility plagued global stock markets on Monday, with Wall Street swinging in and out of the red as Donald Trump defied stark warnings that his global trade assault will wreak widespread economic damage, comparing new US tariffs to medicine.A renewed sell-off began in Asia, before hitting European equities and reaching the US. It was briefly reversed amid hopes of a reprieve, only for Trump to threaten China with more steep tariffs, intensifying pressure on the market. Continue reading...

Politics

59 h. ago Ted Cruz warns of midterm ‘bloodbath’ if Trump tariffs cause a recession

Texas senator’s comments another sign of Republican unease over ‘reciprocal tariffs’ and stock market plungeTed Cruz, the US senator from Texas, has warned that his fellow Republicans risk a “bloodbath” in the 2026 midterm elections if Donald Trump’s “liberation day” tariffs cause a recession.Cruz also warned that the president’s tariffs, if they stay in place for long and are met by global retaliation on American goods, could trigger a full-blown trade war that “would destroy jobs here at home, and do real damage to the US economy”. Continue reading...

Events

66 h. ago Trump’s ‘Liberation Day’ could mean recession in the US and pain worldwide | Steven Greenhouse

The US president’s tariffs are vengeful and impetuous – and will have immense costs with no clear goalWith the huge and painful tariffs that Donald Trump announced on Thursday, “Tariff Man” is acting like a paranoid 12-year-old bully who is convinced that everyone has wronged him, and he wants revenge. But the president’s instrument of revenge – massive tariffs – is going to do serious damage to the US and global economies. Stock market investors are convinced that’s the case, with Wall Street and world stock markets losing trillions of dollars in value in recent days as a result of Trump’s obsession.The president has escalated his risky, vengeful trade war even though the US economy was in strong shape when he took office – the jobless rate was just 4.1%, inflation was below 3% and US economic growth was the strongest in the industrial world, with its stock market at record levels. So it’s unclear whether the US economy needed the shock treatment that Trump is inflicting. The price...

Politics

4 d. ago John Swinney: I will leave 'no stone unturned' to protect Scotch whisky industry from Trump tariffs

First Minister John Swinney said tariffs would be damaging for economic activity

Politics

4 d. ago John Swinney vows to leave 'no stone unturned' amid fears over Trump tariffs

First Minister John Swinney said tariffs would be damaging for economic activity

Politics

5 d. ago Trump’s ‘liberation day’ is here. What do his tariffs mean for Americans?

Economists fear the president’s escalating trade war could have a damaging ripple effect that drives up prices

Politics

6 d. ago SNP urges Rachel Reeves to 'change course' as benefit cuts risks 'social and economic damage'

Shona Robison spoke out after the UK Chancellor last week announced nearly £5 billion in benefit cuts by the end of the decade.

Events

6 d. ago Westminster decisions ‘risk serious social and economic damage’, says Robison

The Finance Secretary said the Scottish Government would push UK ministers to ‘change course’.

Events

6 d. ago Trump tariffs will damage UK economy, Reeves tells Cabinet amid job loss fears

Sir Keir Starmer admits UK unlikely to be spared from sweeping measures to be announced by Donald Trump

Economics

1 week ago Tariff uncertainty risks ‘significant economic damage’; Thames Water’s finance chief leaving within days – business live

Rolling coverage of the latest economic and financial newsOver in Germany, the number of people out of work has risen at the fastest rate since October of 2024.The German labour office said the number of unemployed increased by 26,000 in seasonally adjusted terms to 2.92 million. Analysts polled by Reuters had expected that figure to rise by 10,000.“March marks the start of the so-called spring recovery on the labour market. This year, however, the economic slump is noticeably slowing it down.”One bright spot was the impressive 1.9% q/q (CE forecast 0.7% q/q) rise in consumers’ real incomes in Q4. The 4.2% rise in 2024 as a whole suggests households experienced the strongest real income growth in nine years.With consumer spending hardly rising, at 12.0% in Q4 (up from 10.3% in Q3), the saving rate remains unusually high, suggesting households are choosing to save rather than spend the bulk of those gains. Continue reading...

Economics

1 week ago Tackling climate crisis will increase economic growth, OECD research finds

Third of global GDP could be lost this century if climate crisis runs unchecked, says reportTaking strong action to tackle the climate crisis will increase countries’ economic growth, rather than damage their finances as critics of net zero policies have claimed, research from the world’s economic watchdog has found.Setting ambitious targets on cutting greenhouse gas emissions, and setting out the policies to achieve them, would result in a net gain to global GDP by the end of the next decade, according to the Organisation for Economic Co-operation and Development (OECD), in a joint report with the UN Development Programme. Continue reading...

Economics

2 w. ago Spring statement latest: Tories warn Reeves will usher in new era of austerity after ‘terrible’ Budget damaged economy

Rachel Reeves to deliver Spring Statement this week

Events

2 w. ago Damage from Thames Water debacle extends to the wider economy

Investors, as well as consumers, need regulators with teeth to ensure fair competition and rules

Events