27 m. ago US trade deficit surges ahead of tariffs; China vows not to ‘kneel down’ – business live

Rolling coverage of the latest economic and financial newsUK grocery inflation has edged up this month, as consumers are hit by rising food prices.Data provider Kantar has reported that supermarket prices rose by 3.8% per year in the four weeks to April 20, up from 3.5% a month earlier.“Chocolate confectionery prices rose by 17.4% this period, the fastest of any category, but that didn’t stop the British public treating themselves this Easter. The volume of chocolate eggs sold through supermarket tills still grew by 0.4% on last year, while at the dinner table lamb was the most popular fresh meat joint, followed by beef and pork.Some households chose to indulge in less seasonal fare as the sun came out and they dusted off the barbecue, with burger sales shooting up by 31% over the last month.”The way in which regulations are being applied to bioethanol is undermining the commercial viability of our business. We are having constructive discussions with the UK Government to explore re...

Economics

4 h. ago ‘Last chance for humanity’: the cold reality of monitoring global heating on a glacier

Scientists on Union glacier in Antarctica fear the region is reaching a dangerous tipping point• Words and photographs by James Whitlow DelanoEvery time Dr Ricardo Jaña crosses the turbulent seas that separate Chile from Antarctica, it feels like his first time. The glaciologist at the Chilean Antarctic Institute (Inach) has sailed each year for 12 years through the Drake Passage, where the prevailing westerly winds, unimpeded by any land mass, raise the waters in chaotic waves that lash his boat.“I feel powerless and resigned to the forces of nature,” says Jaña, who is the research chief at the Union Glacier Joint Scientific Polar Station.Jaña skis around the glacier making global navigation satellite system measurements Continue reading...

Politics

6 h. ago HSBC sounds alarm on trade war; Trump to soften blow of automotive tariffs – business live

Rolling coverage of the latest economic and financial newsThe architect of BP’s failed green energy agenda will leave the embattled oil company within months as it continues its retreat from low-carbon investments following this morning’s sharp fall in profits (see last post).The oil company said Giulia Chierchia, the executive in charge of BP’s sustainability ventures, would step back from her role from 1 June 2025 to “pursue other opportunities” outside the company. She will not be replaced. Continue reading...

Events

8 h. ago Who is Mark Carney? Canada’s prime minister who won an election in Trump’s shadow

Carney has promised to stand up for his country amid trade war with the US president

Politics

10 h. ago Canada election results see Mark Carney's Liberals storm to fourth term in power

Mark Carney's Liberal Party will form Canada's next government after a rollercoaster year in politics, after Trump's trade war and Trudeau's resignation

Politics

19 h. ago The Latest: America’s allies and partners approach China to hedge their bets

As President Donald Trump’s trade war locks the world’s two largest economies on a collision course, nations are being forced to choose between China and the United States

Politics

24 h. ago Canada election live: Polls open for crucial vote after Trump and his trade war dominate campaign

The Liberal Party – led by current Prime Minister Mark Carney – are seeking to extend their decade in power

Politics

25 h. ago Canada election live: Polls open in crucial vote after Trump and his trade war dominate campaign

The Liberal Party – led by current Prime Minister Mark Carney – are seeking to extend their decade in power

Politics

26 h. ago US tariff war hurting trade with China; M&S tells hundreds of warehouse agency staff not to come to work after cyber

Rolling coverage of the latest economic and financial newsBack in Beijing, China’s foreign ministry has said President Xi Jinping had not spoken to Donald Trump.The ministry also denied that the two administrations are in talks to strike a tariff deal, which contradicts a claim from Trump last week.“As far as I know, the two heads of state have not called each other recently,“I would like to reiterate that China and the U.S. have not conducted consultations or negotiations on the tariffs issue. Continue reading...

Economics

26 h. ago Canada election live: Carney’s lead over Poilievre narrows as voters head to the polls

The election has been dominated by Donald Trump’s trade war as the Conservatives look to end the Liberals decade in power

Politics

30 h. ago US tariff war hurting trade with China; Beijing ‘confident’ of hitting growth targets – business live

Rolling coverage of the latest economic and financial newsShares in food delivery group Deliveroo have jumped by 17% at the start of trading in London, after receiving a takeover approach from US rival DoorDash.On Friday night, the news broke that DoorDash had offered to buy Deliveroo for $3.6bn (£2.7bn). Continue reading...

Events

32 h. ago China shrugs off threat of US tariffs to economy, says it has tools to protect jobs

China's leaders have shrugged off the potential impact from U.S. President Donald Trump's trade war, saying they have the tools needed to protect jobs and limit damage from higher tariffs on Chinese exports

Economics

51 h. ago China lowers minimum amount for tax refunds for tourists to boost spending

China has lowered the minimum amount tourists spend to get tax refunds as part of measures to boost consumption as its economy comes under pressure during a trade war between Beijing and Washington

Economics

57 h. ago Trade war hits foreign companies in China with double tariffs

Many manufacturers are exposed to paying duties on imports as well as exports

Events

57 h. ago Swiss franc surge sparks bets on return to negative interest rates

Switzerland’s currency has soared as investors seek a haven from US President Donald Trump’s trade war

Politics

3 d. ago FBI arrests judge for alleged obstruction of immigration arrest operation, Patel says in deleted social post – live

Kash Patel has since deleted the post on X that had said a Wisconsin judge was arrested and accused of helping an immigrant ‘evade arrest’Apple is reportedly planning to switch assembly of all iPhones for the US market to India as the company seeks to reduce its reliance on a Chinese manufacturing base amid Donald Trump’s trade war.The $3tn (£2.3tn) technology company aims to make the shift as soon as next year, the Financial Times reported. Continue reading...

Events

3 d. ago Trade war fears trigger biggest slide in US consumer expectations since 1990 recession – business live

Rolling coverage of the latest economic and financial newsXi announces plan for Chinese economy to counter impact of US trade warEuropean stock markets are rising this morning, amid hopes that China is relaxing some of its tariffs.In London, the FTSE 100 index is up 12 points or 0.13%, at 8417 points. Engineering companies are among the top risers, with aerospare manufacturers Melrose up 3.6%, and Rolls-Royce up 2%, after Safran reported that tariffs on aircraft parts have been lifted.“We learned last night that China has taken the decision not to tax engines or landing gear or nacelles - in other words a certain number of aerospace equipment parts.”“It demonstrates that the situation is very fluid.” Continue reading...

Economics

4 d. ago Apple ‘aims to source all US iPhones from India’, reducing reliance on China

Report suggests tech firm – swept up in Donald Trump’s trade war – will make change as soon as 2026Apple is reportedly planning to switch assembly of all iPhones for the US market to India as the company seeks to reduce its reliance on a Chinese manufacturing base amid Donald Trump’s trade war.The $3tn (£2.3tn) technology company aims to make the shift as soon as next year, the Financial Times reported. Continue reading...

Politics

4 d. ago Voices: Poll of the day: Do you still believe in the UK–US ‘special relationship’?

Have your say: Is the UK–US “special relationship” still alive, or has Trump’s trade war and shifting global politics turned it into a thing of the past?

Politics

4 d. ago China grants some tariff exemptions for US imports as trade war bites

Sign of relief for foreign businesses comes as Donald Trump insists talks are under way to reduce levies

Events