6 h. ago IMF lifts UK growth forecast for 2025; markets welcome US delay to EU 50% tariffs – as it happened

Rolling coverage of the latest economic and financial news, as IMF releases latest healthcheck on UK economyRachel Reeves should ease fiscal rules to prevent emergency spending cuts, IMF saysEU hopes for quick deal to resolve US trade war after Trump delays 50% tariffsToyota to move some GR Corolla production to UK from JapanOuch! Germany’s economy is on track for its worst performance in post-war history, a new report shows.The German Chamber of Commerce and Industry (DIHK) predicted this morning that Europe’s largest economy will contract by 0.3% this year, Reuters reports. That would be the third annual contraction in a row, although not as bad as the 0.5% fall in GDP which the DIHK predicted back in February.“A mood of cautious relief is spreading after the long weekend, amid hopes for more fruitful trade negotiations between the United States and its global partners. There are no post bank holiday blues for the London market, with the Footsie in striking distance of the record ...

Economics

10 h. ago IMF lifts UK growth forecast for 2025; markets welcome US delay to EU 50% tariffs – business live

Rolling coverage of the latest economic and financial news, as IMF releases latest healthcheck on UK economyRachel Reeves should ease fiscal rules to prevent emergency spending cuts, IMF saysEU hopes for quick deal to resolve US trade war after Trump delays 50% tariffsToyota to move some GR Corolla production to UK from JapanOuch! Germany’s economy is on track for its worst performance in post-war history, a new report shows.The German Chamber of Commerce and Industry (DIHK) predicted this morning that Europe’s largest economy will contract by 0.3% this year, Reuters reports. That would be the third annual contraction in a row, although not as bad as the 0.5% fall in GDP which the DIHK predicted back in February.“A mood of cautious relief is spreading after the long weekend, amid hopes for more fruitful trade negotiations between the United States and its global partners. There are no post bank holiday blues for the London market, with the Footsie in striking distance of the record ...

Economics

11 h. ago UK retail confidence plummets as sales fall; markets welcome US delay to EU 50% tariffs – business live

Rolling coverage of the latest economic and financial newsEU hopes for quick deal to resolve US trade war after Trump delays 50% tariffsToyota to move some GR Corolla production to UK from JapanOuch! Germany’s economy is on track for its worst performance in post-war history, a new report shows.The German Chamber of Commerce and Industry (DIHK) predicted this morning that Europe’s largest economy will contract by 0.3% this year, Reuters reports. That would be the third annual contraction in a row, although not as bad as the 0.5% fall in GDP which the DIHK predicted back in February.“A mood of cautious relief is spreading after the long weekend, amid hopes for more fruitful trade negotiations between the United States and its global partners. There are no post bank holiday blues for the London market, with the Footsie in striking distance of the record high reached in February. More positive vibes are pulsing about the outlook for the global economy, with hopes that more scores can b...

Economics

14 h. ago Tesla sales halve in Europe; markets welcome US delay to EU 50% tariffs – business live

Rolling coverage of the latest economic and financial newsEU hopes for quick deal to resolve US trade war after Trump delays 50% tariffsStocks have jumped in London as trading resumes after the Bank Holiday weekend.City investors are relieved that Donald Trump has delayed his threatened hike on EU tariffs to 50% until July, cooling trade war fears. Continue reading...

Economics

27 h. ago Trump in Memorial Day speech says: ‘I have everything. Amazing, the way things work out’ – US politics live

President honors fallen soldiers but also says says ‘God did that’ when when taking credit for US hosting world sports eventsThis year’s summer months promise to be among the hottest on record across the United States, continuing a worsening trend of extreme weather, and amid concern over the impacts of Trump administration cuts to key agencies.The extreme heat could be widespread and unrelenting: only far northern Alaska may escape unusually warm temperatures from June through August, according to the latest seasonal forecast from the National Oceanic and Atmospheric Administration (Noaa). Continue reading...

Politics

32 h. ago Trump says he is considering giving $3bn of Harvard’s grants to trade schools – US politics live

President says he could take grant money from Harvard, a week after his administration blocked institution from enrolling foreign studentsThis year’s summer months promise to be among the hottest on record across the United States, continuing a worsening trend of extreme weather, and amid concern over the impacts of Trump administration cuts to key agencies.The extreme heat could be widespread and unrelenting: only far northern Alaska may escape unusually warm temperatures from June through August, according to the latest seasonal forecast from the National Oceanic and Atmospheric Administration (Noaa). Continue reading...

Politics

35 h. ago Donald Trump announces he will pause threatened 50% tariffs on Europe after call with EU chief – US politics live

President says tariffs will be paused until 9 July after a ‘very nice call’ with European Commission president Ursula von der LeyenThe Kremlin on Monday said that US president Donald Trump’s claim that Vladimir Putin had “gone absolutely CRAZY” might be due to emotional overload, but thanked the US leader for his assistance in launching Ukraine peace negotiations.Trump said Putin had “gone absolutely CRAZY” by unleashing the largest aerial attack of the war on Ukraine and said he was weighing new sanctions on Moscow, though he also scolded Ukrainian president Volodymyr Zelenskyy. Continue reading...

Politics

41 h. ago US futures jump while Asian shares slip after Trump delays tariffs on the EU

U.S. futures have turned sharply higher and Asian shares mostly fell after U.S. President Donald Trump said he would delay a threatened 50% tariff on goods from the European Union to July 9 from June 1

Politics

45 h. ago Trump agrees to delay 50% tariffs on EU imports until July 9

Mr Trump had recommended that the 50% tariff rate comes into effect on June 1.

Politics

45 h. ago Trump delays 50 percent tariff threat to European Union until July 9

European Commission president requested the extension, Trump said

Politics

7 d. ago Zelenskyy urges more pressure on Russia after no ceasefire agreed in Trump

Ukrainian president says ‘pressure on Russia will push it toward real peace’Trump and Putin hold phone call but Kremlin refuses ceasefireEU foreign policy chief Kaja Kallas on Tuesday called for the United States to take “strong action” against Russia if Moscow does not agree to a ceasefire in Ukraine.“America said that if Russia doesn’t agree on an unconditional ceasefire, then there are going to be consequences. So we want to see those consequences, also from the US side,” Kallas said at a meeting of EU ministers in Brussels.Putin is clearly playing for time, unfortunately we have to say Putin is not really interested in peace. Continue reading...

Events

8 d. ago Trump administration to pay nearly $5M to settle suit over Ashli Babbitt's fatal shooting in Capitol

The Trump administration has agreed to pay just under $5 million to settle a wrongful death lawsuit that Ashli Babbitt’s family filed over her shooting by an officer during the U.S. Capitol riot

Events

8 d. ago Trump officials reportedly reach $5m settlement in January 6 wrongful death suit

Family sought $30m in damages after Ashli Babbitt was fatally shot by police during 2021 US Capitol breachThe Trump administration has reportedly reached an agreement to pay nearly $5m to the family of the woman who was fatally shot by police while participating in the 6 January 2021 attack on the US Capitol carried out by the president’s supporters.Citing multiple sources, the Washington Post reported on Monday that the Trump administration had agreed to pay the family of Ashli Babbitt to settle the wrongful death lawsuit they filed after the attack. Continue reading...

Politics

1 week ago Iran's Supreme leader calls Donald Trump a liar and says 'we do not fear any threat' despite US President's call for airstrikes if nuclear deal is not agreed

Iran's Supreme Leader Ayatollah Ali Khamenei accused Donald Trump on Saturday of lying when the US president said during his Gulf tour this week that he wanted peace in the region.

Politics

1 week ago US supreme court upholds block on Trump deportations under Alien Enemies Act as judge questions Ábrego García case – live

Justices block Trump administration from deporting Venezuelan migrants; judge frustrated by DoJ’s failure to detail efforts to return wrongly deported manSupreme court blocks Trump bid to resume deportations under 1798 lawAlso on Iran, AFP reports that Trump said earlier that Tehran should make a quick decision on an American proposal for a nuclear deal or “something bad will happen”.Speaking in Abu Dhabi as he finished his Gulf tour, Trump said his administration had handed Iran a proposal for a agreement, adding that “they know they have to move quickly or something bad is going to happen”. Continue reading...

Events

1 week ago Families of victims appalled as Boeing seems likely to avoid prosecution over 737 Max crashes

Trump’s justice department is considering a non-prosecution agreement, through which Boeing would not need to plead guiltyBoeing is set to avoid prosecution in a fraud case sparked by two fatal crashes of its bestselling 737 Max jet that killed 346 people, according to sources familiar with the matter.The US Department of Justice is considering a non-prosecution agreement, relatives of the victims were told on Friday, through which the US aerospace giant would not be required to plead guilty. Continue reading...

Events

1 week ago Republican fiscal hardliners block key vote for Trump’s ‘big, beautiful bill’ – live

In a major setback for Trump’s sweeping tax agenda, five Republicans stood in the way of passing the bill from advancing toward a full House vote next weekAlso on Iran, AFP reports that Trump said earlier that Tehran should make a quick decision on an American proposal for a nuclear deal or “something bad will happen”.Speaking in Abu Dhabi as he finished his Gulf tour, Trump said his administration had handed Iran a proposal for a agreement, adding that “they know they have to move quickly or something bad is going to happen”. Continue reading...

Politics

1 week ago Trump claims ‘8647’ photo from former FBI director James Comey was call to assassinate him – US politics live

US president claims ‘a child would know’ what that slogan means as US Secret Service investigates now-deleted photo of seashells posted on InstagramAlso on Iran, AFP reports that Trump said earlier that Tehran should make a quick decision on an American proposal for a nuclear deal or “something bad will happen”.Speaking in Abu Dhabi as he finished his Gulf tour, Trump said his administration had handed Iran a proposal for a agreement, adding that “they know they have to move quickly or something bad is going to happen”. Continue reading...

Politics

1 week ago Trump hails trade deals amid report the US will send letters to about 150 countries setting out new tariffs – US politics live

President claims he has made agreements worth more than $200bn with the UAE; US to send letters over next few weeks telling countries their new ratesUS government records reveal Latin American leaders have spent millions hiring Washington’s top lobbyists to push for a laundry list of requests – from free-trade deals, security assistance and energy investments – heard by the Trump administration, according to an analysis by the Guardian and The Quincy Institute.Since the lead-up to Donald Trump’s election as president in November 2024, Department of Justice records show that at least 10 countries in Latin America and the Caribbean have registered their top officials and envoys as foreign principals under the Foreign Agent Registration Act (Fara). Fara aims to promote transparency by requiring those working as foreign agents to disclose their activities and compensation.Trump said that, while “150 countries” wanted to agree deals, “it’s not possible to meet the number of people that w...

Politics

1 week ago Donald Trump says there will be no peace in Ukraine until he and Putin get together, as Russian despot snubs talks with Zelensky in Turkey

Donald Trump yesterday insisted there would be no peace deal agreed for Ukraine 'until Putin and I get together'.

Politics