47 h. ago UK’s FTSE 100 share index hits record closing high despite economy shrinking in April – business live

UK economy shrank by 0.3% in April, biggest fall since October 2023, as trade with the US slumped.. but FTSE 100 ends at new record closeFull story: UK economy shrinks by 0.3% as as exports hit by Trump trade warNicholas Hyett, Investment Manager at Wealth Club, blames “a cocktail of headwinds to growth” for the 0.3% fall in UK GDP in April.Hyett says:In the very short term the change to Stamp Duty rules have put the legal and property services on ice - with legal activities down 10.2% month-on-month.New barriers to trade with the US and changes to employment costs, from a higher living wage and increased national insurance contributions, are a longer term challenge.“The 0.3% m/m fall in real GDP in April supports our view that the strength in Q1 was unsustainable. This won’t prompt the Bank of England to cut interest rates next Thursday. But it is one more piece of news pointing to another cut in August.”We still expect the Bank Rate to be maintained at 4.25% in the June meeting, t...

Economics

52 h. ago Largest ever plunge in UK exports to US as Trump tariffs hurt growth; dollar hits three

UK economy shrank by 0.3% in April, biggest fall since October 2023, as trade with the US slumpedFull story: UK economy shrinks by 0.3% as as exports hit by Trump trade warNicholas Hyett, Investment Manager at Wealth Club, blames “a cocktail of headwinds to growth” for the 0.3% fall in UK GDP in April.Hyett says:In the very short term the change to Stamp Duty rules have put the legal and property services on ice - with legal activities down 10.2% month-on-month.New barriers to trade with the US and changes to employment costs, from a higher living wage and increased national insurance contributions, are a longer term challenge.“The 0.3% m/m fall in real GDP in April supports our view that the strength in Q1 was unsustainable. This won’t prompt the Bank of England to cut interest rates next Thursday. But it is one more piece of news pointing to another cut in August.”We still expect the Bank Rate to be maintained at 4.25% in the June meeting, to allow still troubling earnings growth ...

Politics

3 d. ago Unusual mouth sign may be 'deadly' disease that is surging in Europe

Cases are at a 25-year high in Europe, prompting concern from health bodies

Events

4 d. ago At least 10 dead in Graz school shooting with major police operation underway in Austria

Police have evacuated the school and said no further danger is expected after Graz mayor Elke Kahr said ten people had died

Events

4 d. ago The 'con' that Trump never saw coming as Elon 'crosses the Rubicon'

When Elon Musk spectacularly torched his relationship with Donald Trump, it seemed the Big Beautiful Bill was to blame. But privately issues ran deeper.

Politics

4 d. ago ‘At least nine dead in Graz school shooting’ with major police operation underway in Austria

Police have evacuated the school and said no further danger is expected

Events

5 d. ago DWP cuts impact laid bare with exactly how many will be 'in poverty'

The number is much higher than the Government's projected 250,000 - including 50,000 children

Politics

5 d. ago Disability cut impact could be even worse than expected warns food bank charity

Research commissioned by food bank charity Trussell found that 340,000 people in disabled households will be pushed into severe hardship by benefit changes being brought in by the Government

Events

6 d. ago Disability benefit cuts will affect Wales disproportionately, campaigners say

UK government declined to conduct Wales-specific impact assessment for plans, despite calls from first ministerDisability benefit cuts planned by the UK government will disproportionately impact the lives of people in Wales, campaigners have said.Research released by the data analytics company Policy in Practice last week estimated that 190,000 people – 6% of the population – could have their incomes slashed by up to 60% by the end of this parliament if eligibility for personal independence payments (Pip) is tightened as proposed in a March green paper. Continue reading...

Politics

6 d. ago Ukraine accuses Russia of ‘dirty games’ in planned swap of dead troops

Russia and Ukraine each accused the other on Saturday of endangering plans to swap 6,000 bodies of soldiers killed in action

Events

8 d. ago Loose Women's Kaye Adams hints at major life change after saying 'I lost my job’

Loose Women star Kaye Adams has opened up about the impact of the ITV daytime cuts, saying she may have to move into a one-bedroom flat after "losing her job"

Politics

9 d. ago ECB cuts interest rates to 2% in effort to bolster flagging eurozone growth

European Central Bank makes eighth quarter-point cut in a year as bloc reels from impact of Trump’s trade warsBusiness live – latest updatesThe European Central Bank has cut interest rates to 2% in an effort to boost flagging economic growth across the eurozone.The ECB, making its eighth quarter-point cut in a year, said the 20-member currency bloc needed a reduction in the cost of borrowing as it reeled from the damage caused by Donald Trump’s trade wars. Continue reading...

Politics

9 d. ago Canada wildfires: How to keep yourself safe as smoke from deadly inferno reaches Europe

‘Very unhealthy’ air quality has been reported in many areas

Events

9 d. ago Turkey and Greece earthquake latest: Girl, 14, died after ‘intense fear prompted panic attack’

Teenager known for ‘diligence and cheerfulness’ could not be saved; 69 others injured in panic after quake

Events

1 week ago Turkey and Greece earthquake latest: Tourist in Rhodes says 5.8

A teenage girl died and 69 others were injured in ensuing panic after the quake

Politics

1 week ago Turkey and Greece earthquake latest: One dead and dozens injured as 5.8

Tourists in Rhodes, Greece describe hotels shaking and scenes of panic as quake strikes just across the border near the Turkish resort town of Marmaris

Events

1 week ago Turkey and Greece earthquake latest: One dead and 70 injured as 5.8

Tourists in Rhodes, Greece describe hotels shaking and scenes of panic as quake strikes just across the border near the Turkish resort town of Marmaris

Events

1 week ago Trump administration uses Colorado suspect’s status to push deportation agenda

Trump blames attack on Biden’s ‘ridiculous open border policy’ as Miller says attack committed by ‘illegal alien’The immigration status of the man who allegedly attacked people with a makeshift flamethrower and other incendiary devices at an event for Israeli hostages in Boulder, Colorado, has become further fodder for the Trump administration’s deportation agenda.Mohamed Sabry Soliman, a 45-year-old who came to the US in 2022 from Egypt and overstayed his initial tourist visa, according to the US government, allegedly planned his attack on the event specifically to target Zionists, federal authorities said. He shouted “Free Palestine” while carrying out the attack, which the FBI has called an “act of terrorism”, and he was charged on Monday with a federal hate crime. Continue reading...

Politics

1 week ago Turkey and Greece earthquake latest: One dead and 69 injured as 5.8

Tourists in Rhodes, Greece describe hotels shaking and scenes of panic as quake strikes just across the border near the Turkish resort town of Marmaris

Events

1 week ago Greece and Turkey earthquake latest: One dead and 69 injured as 5.8

Tourists in Rhodes, Greece describe hotels shaking and scenes of panic as quake strikes just across the border near the Turkish resort town of Marmaris

Events