4 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

7 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

8 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

12 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

24 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

25 h. ago EU hopes for speedy deal to resolve US trade war after Trump delays 50% tariffs

European leaders call for ‘lowest possible’ border taxes after levies postponed from 1 June to 9 JulyEU leaders have expressed hopes of a speedy deal to resolve the trade war with the US after Donald Trump announced he was delaying his threatened 50% tariffs for the bloc until 9 July.The US president said on Sunday that he would pause the border tax due to be imposed on 1 June, which he had only announced two days earlier, after what he called a “very nice call” with the head of the EU executive, Ursula von der Leyen. Continue reading...

Economics

25 h. ago EU hopes for quick deal to resolve US trade war after Trump delays 50% tariffs

European leaders call for ‘lowest possible’ border taxes after levies postponed from 1 June to 9 JulyEU leaders have expressed hopes for a quick deal to resolve the trade war with the US after Donald Trump announced he was delaying his threatened 50% tariffs for the bloc until 9 July.The US president said on Sunday he would pause the border tax due to be imposed on 1 June, which he had announced two days earlier, after what he called a “very nice call” with Ursula von der Leyen. Continue reading...

Economics

29 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

33 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

39 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

42 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

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

European Commission president requested the extension, Trump said

Politics

4 d. ago European markets suffer losses after Trump ‘recommends’ 50% tariff on EU, and threatens Apple with 25% tariff – business live

US president Donald Trump reignites trade war with threat to impose high tariffs on European goods, and Apple iPhones made overseasTrump says he is hitting EU with 50% tariff as trade talks are ‘going nowhere’As well as cutting UK energy costs (see earlier), Donald Trump can also take credit for growing the German economy!New GDP data this morning shows that Germany’s GDP rose by 0.4% in January-March, twice as fast as the first estimate of 0.2% growth in the quarter.“The reason for the slightly higher growth compared to the initial estimate was the surprisingly positive economic development in March.”“In particular, production in the manufacturing sector and exports performed better than initially expected.The German economy had its best quarterly performance since the third quarter of 2022, and the reason for it seems to be Donald Trump. As a result of the announced tariffs and in anticipation of ‘Liberation Day,’ German industrial production and exports surged in March.Net export...

Economics

4 d. ago Trump threatens 25% tariff on Apple and Samsung phones not made in US

Announcement wipes about $70bn off Apple shares amid pressure on company to build smartphones in USBusiness live – latest updatesDonald Trump has threatened to impose a 25% tariff on iPhones if they are not made in the United States, as he stepped up the pressure on Apple to build its signature product in the country.The president wiped approximately $70bn (£52bn) off the company’s shares with a post on the Truth Social platform that said iPhones sold inside the US must be made within the country’s borders. Continue reading...

Politics

4 d. ago Trump ‘recommending’ 50% tariff on EU, and threatens Apple with 25% tariff – business live

US president Donald Trump reignites trade war with threat to impose high tariffs on European goods, and Apple iPhones made overseasTypical energy bill in Great Britain to fall 7% to £1,720 a year from JulyAs well as cutting UK energy costs (see earlier), Donald Trump can also take credit for growing the German economy!New GDP data this morning shows that Germany’s GDP rose by 0.4% in January-March, twice as fast as the first estimate of 0.2% growth in the quarter.“The reason for the slightly higher growth compared to the initial estimate was the surprisingly positive economic development in March.”“In particular, production in the manufacturing sector and exports performed better than initially expected.The German economy had its best quarterly performance since the third quarter of 2022, and the reason for it seems to be Donald Trump. As a result of the announced tariffs and in anticipation of ‘Liberation Day,’ German industrial production and exports surged in March.Net exports an...

Politics

4 d. ago Trump threatens 25% tariff on Apple iPhones and 50% on EU products starting June 1

President Donald Trump has threatened to impose a 50 percent import tax on anything brought into the U.S. from the European Union and is warning that he will unilaterally slap a 25 percent tariff on any Apple products unless the most valuable technology company in the United States begins manufacturing iPhones inside the country.

Politics

4 d. ago Trump threatens tariffs on beloved iPhones as he chews out Apple's Tim Cook: Live updates

Donald Trump is tearing into Apple and threatening a new 25 percent tariff on iPhones if the company does not manufacture the product in the U.S.

Politics

7 d. ago Rival league forges ahead in fresh twist to British basketball’s civil war

Former NBA executive Marshall Glickman, who heads the consortium awarded 15-year league licence, outlines bold plans for change with or without the Super League clubsThe machinations over football’s European Super League feel like a distant threat compared with the civil war in British basketball between the top-flight clubs and the sport’s governing body.Leicester Riders claimed a record-equalling seventh Super League Basketball title in the final on Sunday against Newcastle Eagles at a packed O2 Arena, but it is unclear whether the league will even take place next season. Continue reading...

Events

8 d. ago January 6 officer calls Trump ‘petty’ for Republican refusal to hang Capitol plaque

Michael Fanone slams Mike Johnson and Republicans for long delaying congressionally approved officer tributeDonald Trump and his Republican allies are “petty bitches” for refusing to display a congressionally approved plaque honoring police officers who protected the US Capitol when the president’s supporters attacked the complex on 6 January 2021, says one of the cops in question, Michael Fanone.Speaking recently on the show hosted by political broadcast journalist Jim Acosta, the famously candid and oft profane Fanone said he also had a suggestion about where Republican US House speaker Mike Johnson could position the commemoration. “I think that it would be perfect if the plaque was shoved up his ass,” said Fanone, who retired from the Washington DC police force after being wounded during the January 6th attack. Continue reading...

Politics

1 week ago FA chair joins protest against Gianni Infantino’s late arrival to Fifa Congress after Saudi trip with Donald Trump

Fifa president Gianni Infantino was delayed arriving at the annual meeting after joining US President Trump on his tour of the Middle East

Politics