7 d. ago BMW boss predicts Trump’s 25% tariffs on foreign cars will be lowered by July

The German carmaker has reported that its first-quarter profits for 2025 have fallen by 25%The boss of BMW has predicted that Donald Trump’s import tariffs on foreign cars will be lowered this summer, as the German carmaker reportedprofits for the first quarter had tumbled by a quarter.Oliver Zipse, BMW’s chief executive, said he expects that Trump’s 25% tariffs on the import of foreign cars will be dropped by July. Continue reading...

Politics

9 d. ago UK car sales drop 10% in April; Ford predicts $1.5bn profit hit from Trump tariffs – business live

Rolling coverage of the latest economic and financial newsTrump’s foreign film tariffs could ‘wipe out’ UK movie industry, ministers toldCar sales across the UK fell by over 10% last month, compared to a year ago.New industry data shows that 120,331 new vehicles were registered in April, 10.4% fewer than in April 2024.In what is traditionally a quieter month following the March plate change, volumes were also impacted by the late timing of Easter, resulting in fewer working days.In addition, the implementation of VED changes affecting all new cars, including the Expensive Car Supplement which became applicable to many new EVs from 1 April, pushed transactions into March as shrewd buyers got ahead of the tax increases. Continue reading...

Economics

9 d. ago China’s service sector hit by trade war; Ford predicts $1.5bn profit hit from Trump tariffs – business live

Rolling coverage of the latest economic and financial newsTrump’s foreign film tariffs could ‘wipe out’ UK movie industry, ministers toldAmerican children face paying higher prices for Barbie dolls due to the Trump tariffs on imports.Mattel, the toy manufacturing giant, revealed last night that it plan to raise prices on American toys due to tariffs, and is also looking to move some manufacturing out of China.Accelerating diversification of its supply chain and further reducing reliance on China-sourced product,Optimizing product sourcing and product mix, andWhere necessary, taking pricing action in its U.S. business.In an uncertain macro environment that has intensified due to the potential impact of tariffs, we are focused on what we can control.We are improving our supply chain agility, taking decisive cost actions to mitigate financial impact where possible, and ensuring we can continue to serve our customers and consumers. Continue reading...

Economics

9 d. ago Mike Pence rebukes Trump over tariffs and ‘wavering’ support for Ukraine

Former vice-president says tariffs ‘not a win for the American people’ and predicts public pressure will growDonald Trump’s tariffs policy will trigger a “price shock” and possible shortages, and lead to public pressure on him to change his approach, the former vice-president Mike Pence has said.In one of his most wide-ranging critiques yet on the policies of the president he used to serve, Pence, speaking to CNN, derided the White House’s “wavering” support for Ukraine and declared – in direct contradiction of repeated assurances from Trump – that President Vladimir Putin of Russia “doesn’t want peace”. Continue reading...

Politics

9 d. ago Bank of England set to cut interest rates as US tariff impact hits UK economy

The Bank is trying to ease borrowing costs as economic growth is predicted to be slowed by the impact of Trump's tariffs

Economics

2 w. 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

2 w. 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

3 w. ago Reeves signals UK could lower tariffs on US car imports in bid to secure Trump trade deal

The chancellor is in Washington DC as pressure mounts over dire IMF predictions about the UK economy if Trump goes ahead with his tariffs

Economics

3 w. ago Reeves claims she ‘absolutely’ trusts Trump but is in ‘no rush’ to do trade deal with him

The chancellor is in Washington DC as pressure mounts over dire IMF predictions about the UK economy if Trump goes ahead with his tariffs

Politics

4 w. ago SYLVIA MORRIS: Top savings deals vanish after Trump's tariffs as I predicted

Following US President Donald Trump's tariff announcements, top savings rates disappeared in a flash - which is as I anticipated. Now, here's my advice on which rates to bank while you still can.

Economics

4 w. ago SYLVIA MORRIS says: Top savings deals are vanishing after Trump's tariffs just as I predicted

Following US President Donald Trump's tariff announcements, top savings rates disappeared in a flash - which is as I anticipated. Now, here's my advice on which rates to bank while you still can.

Economics