5 h. ago Brazil’s president rebuffs demand to cease inquiry into Bolsonaro after Trump tariffs – live updates

Luiz Inácio Lula da Silva posts statement on social media saying the country ‘will not accept any form of tutelage’ after US levies 50% tariffsTrump targets Brunei, Libya and Moldova with latest threat of US tariffsTrump says Bolsonaro ‘not guilty of anything’ amid Brazil coup trialThe US justice department has sued California over state policies allowing transgender athletes to compete in girls’ school sports, alleging that allowing them to do so violates federal anti-discrimination laws.The lawsuit, filed in federal court in Los Angeles, claims that California’s policies violate Title IX, which affords legal protection against sex discrimination.Our Fed Rate is AT LEAST 3 Points too high. “Too Late” is costing the U.S. 360 Billion Dollars a Point, PER YEAR, in refinancing costs. No Inflation, COMPANIES POURING INTO AMERICA. “The hottest Country in the World!” LOWER THE RATE!!!ANYBODY BUT “TOO LATE.”In effect, we went on hold when we saw the size of the tariffs and essentially all ...

Politics

9 h. ago Trump announces 50% tariff on Brazil, citing what he claims is a ‘witch

US president slaps tariff on Brazil and complains about treatment of Brazil’s former president, who is facing trial over an alleged coup attemptTrump targets Brunei, Libya and Moldova with latest threat of US tariffsTrump says Bolsonaro ‘not guilty of anything’ amid Brazil coup trialThe US justice department has sued California over state policies allowing transgender athletes to compete in girls’ school sports, alleging that allowing them to do so violates federal anti-discrimination laws.The lawsuit, filed in federal court in Los Angeles, claims that California’s policies violate Title IX, which affords legal protection against sex discrimination.Our Fed Rate is AT LEAST 3 Points too high. “Too Late” is costing the U.S. 360 Billion Dollars a Point, PER YEAR, in refinancing costs. No Inflation, COMPANIES POURING INTO AMERICA. “The hottest Country in the World!” LOWER THE RATE!!!ANYBODY BUT “TOO LATE.”In effect, we went on hold when we saw the size of the tariffs and essentially all...

Politics

14 h. ago Trump announces tariffs of up to 30% on six more countries – live updates

President defends tariffs and sends letters to countries including Algeria, Iraq and Brunei The US justice department has sued California over state policies allowing transgender athletes to compete in girls’ school sports, alleging that allowing them to do so violates federal anti-discrimination laws.The lawsuit, filed in federal court in Los Angeles, claims that California’s policies violate Title IX, which affords legal protection against sex discrimination.Our Fed Rate is AT LEAST 3 Points too high. “Too Late” is costing the U.S. 360 Billion Dollars a Point, PER YEAR, in refinancing costs. No Inflation, COMPANIES POURING INTO AMERICA. “The hottest Country in the World!” LOWER THE RATE!!!ANYBODY BUT “TOO LATE.”In effect, we went on hold when we saw the size of the tariffs and essentially all inflation forecasts for the United States went up materially as a consequence of the tariffs.Anybody would be better than Jay Powell. He’s costing us a fortune because he keeps the rate way u...

Politics

15 h. ago Trump delayed his tariff deadline after Treasury Secretary pleaded for more time to get deals done, report says

Treasury boss talked Trump into yet another multi-week reprieve

Economics

17 h. ago Trump defends tariffs as more trade announcements expected – live updates

President Donald Trump said that there would be more trade-related announcements this morningSources in the European Union, which Donald Trump said could expect a letter regarding its tariff deal in the next 48 hours, said they believed a framework agreement would be reached this week. The agreement is expected to include headline tariff arrangements for a limited number of sectors including cars, steel and medical devices.The German chancellor, Friedrich Merz, told the Bundestag today: “I am cautiously optimistic that we can succeed in reaching an agreement with the US in the next few days, by the end of the month at the latest.” Continue reading...

Politics

19 h. ago Bank of England says UK banks can increase riskier mortgage lending – business live

Rolling coverage of the latest economic and financial news, as BoE recommends banks can issue more high loan-to-income level loansCopper prices in US hit record high after Trump announces 50% tariffTrump threatens to escalate trade war amid confusion over new tariff ratesCarsten Menke, Head of Next Generation Research at Julius Baer, says the copper tariffs will be inflationary domestically in the US and deflationary internationally – which matches the price action we’ve seen since last night.Menke also points out that the jump in US copper prices (13% yesterday) is less than the 50% tariff, implying traders expect some imports will be exempt, saying:President Trump announced the imposition of 50% import tariffs at a cabinet meeting yesterday. While US-traded futures jumped on the news, the price differential is well below the tariff level, pointing to expectations of exemptions for key suppliers or expectations of different demand dynamics.As already mentioned, we remain of the con...

Economics

20 h. ago Threat of Trump tariffs ‘puts businesses at risk of going bust’

Bank of England says further rise in trade taxes could weaken demand, increase costs and make banks less willing to provide loansBusiness live – latest updatesThe looming threat of much higher tariffs amid Donald Trump’s trade war could lead to a fresh wave of companies going bust and cause financial losses for banks, the Bank of England has warned.The Bank’s financial policy committee said a rise in trade levies would compound existing vulnerabilities, with the risks to global growth and inflation having grownas a result of the president’s ever-changing border tax rates and an escalating conflict in the Middle East. Continue reading...

Events

21 h. ago UK workforce exposed if global trade war intensifies, Bank warns

Households and businesses nonetheless remain resilient, and the UK banking system is equipped to support them if conditions worsen.

Events

21 h. ago Copper prices in US hit record high after Trump announces 50% tariff

Latest escalation in trade war is expected to push up costs across key parts of US economyBusiness live – latest updatesCopper prices hit a record high in the US after Donald Trump announced he would impose a 50% tariff on the industrial metal, in the latest escalation in his trade war.Trump said before a cabinet meeting on Tuesday: “Today we’re doing copper,” proposing a 50% tariff rate for imports. He also threatened to impose a 200% border tax on pharmaceuticals but in a year or year and a half’s time. Continue reading...

Politics

35 h. ago Trump threatens to escalate trade war amid confusion over new tariff rates

US president announces tariffs of up to 200% on foreign drugs and 50% on copper as he continues to shift plansDonald Trump vowed to further escalate his trade wars on Tuesday, threatening US tariffs of up to 200% on foreign drugs and 50% on copper, amid widespread confusion around his shifting plans.Hours after saying his latest deadline for a new wave of steep duties was “not 100% firm”, the US president declared that “no extensions will be granted” beyond 1 August. Continue reading...

Events

38 h. ago Trump promises there will be ‘no change’ to his August 1 tariffs start

Donald Trump has repeatedly backed off from imposing the sweeping import taxes after stock and bond market downturns

Politics

38 h. ago Trump is bullying Canada over ‘digital taxes’ and Canada caved | Joseph Stiglitz

The question now: will countries cave in to these threats or stick together and collect the billions they are rightly owed?Donald Trump’s announcement calling off trade talks with Canada over its digital tax – and that he would impose retaliatory tariffs – demonstrates, once again, not only the president’s ignorance of economics and willful disregard of international norms and the rule of law, but also his willingness to use brute power to get whatever he and the oligarchs who support him want.He was wrong in labeling the tax as outrageous and “a direct and blatant attack on our country”. It is actually an efficient tax, well designed to ensure that the technology companies – the profits of which benefit the tech oligarchs who have come to dominate US policy – pay their fair share of taxes.Joseph E Stiglitz is a Nobel laureate in economics, university professor at Columbia University and chief economist of the Roosevelt InstituteAnya Schiffrin, senior lecturer at Columbia University...

Politics

46 h. ago Relief for UK steel industry as Trump delays ramping up tariffs to 50% AGAIN

Donald Trump has extended the deadline for increasing levies on global imports from 25 per cent to 50 per cent.

Politics

46 h. ago Kindle Paperwhite drops to £134.99 for Prime Day — here’s why I upgraded

At £134.99 for Prime Day, the Kindle Paperwhite 16GB was too good to pass up — and the upgrade has transformed my summer reading plans.

Politics

46 h. ago China threatens retaliation for Trump tariffs as Rubio starts first Asia trip

China has warned US president Donald Trump against reigniting trade tensions by reimposing tariffs on Chinese goods and threatened retaliation against countries siding with Washington at Beijing’s expense.

Politics

47 h. ago What is going on with Trump’s tariffs? All you need to know as trade deal deadline delayed again

Stock market volatility and costs to small businesses are just two of the knock-on effects from the tariffs

Economics

53 h. ago Rachel Reeves' uncle reveals why she was crying at PMQs as he blasts Keir Starmer and Labour for 'joke' first year in power

Terry Smith, 72, the brother of the Chancellor's mother Sally Reeves, also advised his niece to 'stop spending money on the migrants and focus on fixing the country instead'.

Politics

57 h. ago Trump’s moving goalposts on tariffs show how hard it will be to win his trade war

It turns out getting 90 deals in 90 days is harder than making almost every Republican bend the knee, Eric Garcia writes

Politics

58 h. ago Majority of Brits want Rachel Reeves to resign as Labour's chaos continues

A poll of UK voters has revealed the public is losing faith in the Keir Starmer-led government, with a growing number of Brits demanding high-profile figures step down

Events

60 h. ago Trump slaps 25% tariffs on Japan and South Korea in big gamble as deadline to price spike 'doomsday' approaches

President Donald Trump hammered Japan and South Korea for running up a trade imbalance with the U.S., declaring both countries will be slapped with a new 25 percent tariff starting August 1.

Politics