16 h. ago 'I missed my son's 12th birthday to save Britain's steel industry'

The Manchester Evening News speaks to the man at the centre of the race to save British Steel and deal with Trump's tariffs and a global trade war

Politics

48 h. ago America says it’s Trump’s economy (despite his constant blaming of Biden)

Donald Trump has consistently blamed Joe Biden for the turbulent stock market after the president triggered a global trade war with his tariffs

Politics

55 h. ago Markets rally after better than expected data shows US added 177,000 jobs in April – business live

Live, rolling coverage of business, economics and financial markets as US employment figures for April came in higher than expected with 177,000 jobs, boosting European markets as they hope for a thaw in US-China relationsEurozone unemployment was steady 6.2% in March – unchanged relative to a revised February reading.The youth unemployment rate was 14.2%, down from 14.3% in the previous month. Continue reading...

Society

58 h. ago The way universities can survive the Trump era? Band together in an alliance | David Kirp

Nato for higher education – a mutual defense pact is a long-shot approach, but it might just convince the bully in the White House to back offHigher education is under attack from the person who inhabits the White House. Universities are being threatened with an array of punishments, including the cutoff of their federal contracts and grants, the loss of their nonprofit status and a tax on their endowment. The Trump administration is demanding a say in whom they admit, whom they hire and even what courses they teach.It’s a grim message – abandon your fundamental values, or else. The idea of an “existential moment” has become a cliche, but this situation warrants that grim description. Academic freedom, the lifeblood of higher education, is being threatened.David Kirp is professor emeritus at the University of California-Berkeley and the author of The College Dropout Scandal Continue reading...

Politics

58 h. ago Xbox deals devastating price rise to MILLIONS amid tariff uncertainty

Microsoft has raised the price of its Xbox consoles worldwide, as firms continue to respond to rising global prices in the wake of US tariff plans.

Economics

59 h. ago UK to ban buying bitcoin on credit card; stocks rise on hopes of US

Live, rolling coverage of business, economics and financial markets as Financial Conduct Authority considers restricting use of credit to buy crypto; stock markets gain on hopes of US-China trade thawEurozone unemployment was steady 6.2% in March – unchanged relative to a revised February reading.The youth unemployment rate was 14.2%, down from 14.3% in the previous month. Continue reading...

Politics

60 h. ago Stock markets gain as China ‘evaluates’ offer of US trade talks – business live

Live, rolling coverage of business, economics and financial markets as FTSE 100 gains on hopes of US-China trade thaw; Shell profits drop 28% to $5.5bnCommodities companies are among the best performers on stock markets this morning.They would be among the best placed to benefit from the US backing down in its trade war with China. The FTSE 100 has a lot of Europe’s big mining listings, and they are leading the way on Friday. Continue reading...

Economics

61 h. ago Shell profits fall as big oil faces slump in prices; UK cuts NatWest stake below 2% – business live

Live, rolling coverage of business, economics and financial markets as FTSE 100 oil company profits drop 28% to $5.5bnStock markets have gained across Europe, as investors welcomed signs of a possible thaw in the trade war between the US and China.Germany’s Dax gained 1.2% in the early trades, while France’s Cac 40 was up 1.4% – after both were closed over the May Day bank holiday. The Stoxx 600 index, which tracks big companies across Europe, rose by 0.9%. The FTSE 100 was up 0.9%.“The US has recently taken the initiative on many occasions to convey information to China through relevant parties, saying it hopes to talk with China,” the statement said, adding that Beijing was “evaluating this”.“Attempting to use talks as a pretext to engage in coercion and extortion would not work,” it said.This optimism has continued overnight after China’s Ministry of Commerce said that it’s evaluating trade talks with the US. The ministry said this comes as “the US has recently sent messages to C...

Economics

3 d. ago The Latest: Resolution to block Trump’s global tariffs is voted down by Senate

Senate Republicans narrowly voted down a Democratic resolution that would have blocked global tariffs announced by President Donald Trump earlier this month, giving the president a modest win as lawmakers in both parties have remained skeptical of his trade agenda

Politics

3 d. ago Trump tariffs cause fastest slump in British factory export orders in five years – business live

Live, rolling coverage of business, economics and financial markets as UK manufacturers report falling export orders and China signals openness to US trade talks Fhaheen Khan, senior economist at Make UK, a lobby group for British manufacturing, said:UK manufacturers are caught in the eye of a perfect storm, with rising costs and international trade uncertainty undermining growth prospects. While actual changes in trade have been limited, the unpredictability, particularly around US tariff policy, is doing significant damage and paralysing decision makers. Many firms are delaying major investment decisions until greater clarity emerges, while being forced in the meantime to cut costs through redundancies while pushing through price increases.This has left manufacturing experiencing its most severe slowdown in years, with the UK at a competitive disadvantage compared to our European peers who are weathering current challenges relatively better. As a result, it is now vital that gover...

Politics

3 d. ago China hints at openness to trade talks with US; Tesla denies board search for Musk successor – business live

Live, rolling coverage of business, economics and financial markets as Chinese state-controlled social media says US has approached China for trade talksLloyds Banking Group has reported a 7% drop in pre-tax profit to £1.5bn in its first quarter, and is bracing for the ripple effect from Trump’s tariffs on its balance sheet.The high street bank said that it has set aside £309m to account for possible bad debts, compared with previous guidance of £274m, as it added a £35m net charge to prepare for the possible impact on the economic outlook from President Trump’s tariffs.The US has proactively reached out to China through multiple channels, hoping to hold discussions on the tariff issue.Yuyuan Tantian is not among China’s most authoritative state media outlets. The Global Times, which is owned by the newspaper of the governing Communist Party, People’s Daily, has often been first to report China’s next steps in trade disagreements over the past few years.Guo Jiakun, a spokesperson fo...

Politics

3 d. ago Tesla denies board search for Elon Musk’s successor; Trump tariffs to slash growth, says Bank of Japan – business live

Live, rolling coverage of business, economics and financial markets as US electric carmaker says report board is looking for next Tesla boss is ‘absolutely false’National Grid, the FTSE 100 company that owns the UK’s electricity network, has appointed Shell oil executive Zoë Yujnovich as chief executive after the retirement of John Pettigrew.Yujnovich was until recently working at FTSE 100 oil company Shell, where she was director of integrated gas and upstream (oil production) and a member of the executive committee. She previously led the Iron Ore company of Canada, part of Rio Tinto.I firmly believe in the vital function energy companies play in driving change and creating value. On both sides of the Atlantic National Grid has an essential role to play in making energy secure, affordable and reliable for our customers and communities. I’m excited about leading National Grid as it delivers on the growth opportunities ahead. Continue reading...

Economics

4 d. ago Kristi Noem says Kilmar Ábrego García would be deported immediately if sent back to US

US homeland security secretary said Maryland man mistakenly deported to El Salvador ‘not under our control’Kristi Noem, the US homeland security secretary, said that if Kilmar Ábrego García was sent back to the US, the Donald Trump administration “would immediately deport him again”.Noem repeated White House assertions about Ábrego García, a Salvadorian man who the Trump administration has admitted was mistakenly deported from Maryland last month, in a new interview with CBS. Continue reading...

Politics

4 d. ago UPS cites Trump tariffs as it announces expected layoffs of 20,000 workers

Company cites ‘current macro-economic uncertainty’ as sweeping tariffs discourage customers from shippingBusiness live – latest updatesThe United Parcel Service (UPS) is expected to cut about 20,000 jobs in 2025 as a part of a larger plan to reduce costs and increase profit, citing “changes in the global trade policy and new or increased tariffs”.UPS announced the layoffs on Tuesday in its first quarter earnings report. The parcel delivery service said it made consolidated revenues of $21.5bn, compared with $21.7bn about the same time a year ago. Additionally, the company said it would be shuttering 73 leased and owned buildings by the end of June of this year. Continue reading...

Politics

4 d. ago Trump's first 100 days: Travel expert warns of ripple effects for global tourism

As Donald Trump marks his first 100 days back in the White House, a leading travel expert has warned that his early policy decisions particularly on tariffs and immigration are already casting a shadow over global tourism.

Events

4 d. 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

4 d. 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

4 d. 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

4 d. ago France avoids recession as economy returns to growth; UK house prices drop – business live

Rolling coverage of the latest economic and financial newsChina manufacturing activity plummets amid Trump tariff warAverage UK house prices fell this month, lender Nationwide reports, after the rush to avoid an increase in stamp duty faded.According to Nationwide, house prices fell by 0.6% in April, with the average price dropping to £270,752 from £271,316 in March.Early indications suggest there was a significant jump in transactions in March, with buyers bringing forward their purchases to avoid additional tax obligations.“The market is likely to remain a little soft in the coming months, following the pattern typically observed following the end of stamp duty holidays. Nevertheless, activity is likely to pick up steadily as summer progresses, despite wider economic uncertainties in the global economy, since underlying conditions for potential home buyers in the UK remain supportive. Continue reading...

Economics

5 d. ago UPS reveals it is cutting 20,000 jobs amid decrease in Amazon deliveries

Company also cited ‘uncertainty’ around wider global economy amid ongoing Trump tariffs

Society