22 m. ago Shein explores US restructuring as tariffs threaten to derail London IPO

Fast-fashion company searches for workarounds as Trump’s trade war endangers operations in its most important market

Economics

21 h. ago US trade deficit surges; Amazon accused of ‘hostile and political’ act for displaying tariff costs – 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

22 h. 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

28 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

47 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

52 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

7 d. ago US markets rally as Treasury secretary says China trade war is ‘unsustainable’

Scott Bessent tells investors he expects two countries to reach a deal that would end restrictions on flow of goods

Events

7 d. ago Risks to global financial stability surging after Trump tariffs, warns IMF

World body says ‘sharp repricing of risks’ possible amid growing concern over role of ‘nonbank’ lendersIMF warns of ‘major negative shock’ from Trump’s tariffsEditorial: Donald Trump could cost the world $1tnThe global financial system is coming under increasing strain as Donald Trump’s trade war rocks markets, the International Monetary Fund has warned.“Global financial stability risks have increased significantly,” the IMF said in its regular snapshot of the system, urging regulators to be on the alert for potential crises. Continue reading...

Events

1 week ago Asian markets are mostly higher as Wall Street is stuck in trade war doldrums

Asian shares are mostly higher after a bumpy ride on Wall Street

Events

2 w. ago UK and G7 allies look at lowering ‘meaningless’ cap on Russian oil exports

Limit of $100 a barrel said to be ineffective with the price of crude having crashed in response to Trump’s trade warThe UK and its G7 allies are considering tightening the “meaningless” cap on Russian oil export prices after Donald Trump’s trade war caused global oil markets to crash.UK Treasury officials are understood to be looking at plans to lower the $60 (£46) a barrel cap Russianexports after the oil market plunged this week to $59.77 a barrel for the first time in more than four years. Continue reading...

Politics

2 w. ago ‘A new golden age’: how rightwing media stuck by Trump as global markets collapsed

Trump’s tariffs were sometimes played down, sometimes cheered but rarely seriously questioned by the rightWhile Donald Trump recently instituted and paused hefty tariffs, sparking a trade war and chaos in financial markets, most of the country’s conservative media either applauded the US president or critiqued the policy but not the person behind it, according to journalists and observers of conservative media.Meanwhile, economists, business leaders, Democrats and even some Republicans warned that the tariffs, which prompted the largest American stock market drop since the start of the Covid-19 pandemic, could cause a recession. Continue reading...

Politics

2 w. ago White House says there is ‘great optimism’ in the economy despite ongoing market volatility – business live

Markets pick up slightly after earlier falls amid increasing fears of recession while White House insists Trump’s tariffs are ‘proven economic formula’US stocks fall again after rally following Trump’s shock retreat on tariffsWhat are bonds and why have they spooked Donald Trump?The US dollar slumped on Friday as waning confidence in the US economy prompted investors to ditch US assets to the benefit of safe havens like the Swiss franc, yen and euro, as well as gold.The yellow metal recorded a new all-time peak in early Asia trade, and the franc notched a fresh decade high, Reuters reports.There has been a pronounced ‘sell US’ vibe flowing through broad markets and into the classic safe-haven assets, with the USD losing the safe-haven bid. Continue reading...

Economics

2 w. ago China raises tariffs on US goods from 84% to 125%, finance ministry says – business live

China’s finance ministry said it will resolutely take countermeasures against Trump tariffs and fight to the endUS stocks fall again after rally following Trump’s shock retreat on tariffsLife in Shanghai, China’s commercial capital, goes on but anti-US sentiment is hardeningThe US dollar slumped on Friday as waning confidence in the US economy prompted investors to ditch US assets to the benefit of safe havens like the Swiss franc, yen and euro, as well as gold.The yellow metal recorded a new all-time peak in early Asia trade, and the franc notched a fresh decade high, Reuters reports.There has been a pronounced ‘sell US’ vibe flowing through broad markets and into the classic safe-haven assets, with the USD losing the safe-haven bid. Continue reading...

Economics

2 w. ago FTSE 100 opens higher as Macron warns Trump tariff suspension only a ‘fragile pause’ – business live

European markets open following a mixed picture across Asia with the Nikkei showing another fallUS stocks fall again after rally following Trump’s shock retreat on tariffsLife in Shanghai, China’s commercial capital, goes on but anti-US sentiment is hardeningThe US dollar slumped on Friday as waning confidence in the US economy prompted investors to ditch US assets to the benefit of safe havens like the Swiss franc, yen and euro, as well as gold.The yellow metal recorded a new all-time peak in early Asia trade, and the franc notched a fresh decade high, Reuters reports.There has been a pronounced ‘sell US’ vibe flowing through broad markets and into the classic safe-haven assets, with the USD losing the safe-haven bid. Continue reading...

Events

2 w. ago Trump tariff suspension only a ‘fragile pause’, says Macron, as gold soars amid market jitters – business live

Nikkei plunges 5.4% but other Asian markets see mixed results as some reverse many of historic rally’s gains after US president’s tariffs reprieveUS stocks fall again after rally following Trump’s shock retreat on tariffsLife in Shanghai, China’s commercial capital, goes on but anti-US sentiment is hardeningThe US dollar slumped on Friday as waning confidence in the US economy prompted investors to ditch US assets to the benefit of safe havens like the Swiss franc, yen and euro, as well as gold.The yellow metal recorded a new all-time peak in early Asia trade, and the franc notched a fresh decade high, Reuters reports.There has been a pronounced ‘sell US’ vibe flowing through broad markets and into the classic safe-haven assets, with the USD losing the safe-haven bid. Continue reading...

Economics

2 w. ago Asian markets sink as Trump admits ‘transition cost’ of tariffs – business live

Nikkei plunges 5.4% and other Asian markets reverse many of Thursday’s gains after historic rally following US president’s tariffs reprieveUS stocks fall again after rally following Trump’s shock retreat on tariffsThe US dollar slumped on Friday as waning confidence in the US economy prompted investors to ditch US assets to the benefit of safe havens like the Swiss franc, yen and euro, as well as gold.The yellow metal recorded a new all-time peak in early Asia trade, and the franc notched a fresh decade high, Reuters reports.There has been a pronounced ‘sell US’ vibe flowing through broad markets and into the classic safe-haven assets, with the USD losing the safe-haven bid. Continue reading...

Economics

2 w. ago Trump admits ‘transition cost’ of tariffs as global markets sink again – business live

US stocks tumble once more after historic rally following US president’s shock retreat on ‘reciprocal’ tariffsUS stocks fall again after rally following Trump’s shock retreat on tariffsIn the UK, shoppers stayed away from the high street in March, a situation retailers said could worsen if the economic gloom caused by Donald Trump’s tariff war hits consumer confidence.Footfall fell 5% in March to extend a downturn in February that retailers said could be attributed to a recent rise in inflation and pressure on pay packets since a brief revival during the January sales.Global uncertainties resulting from tariffs and a potential economic slowdown could reduce the appetite for shopping trips in the coming months. Continue reading...

Economics

2 w. ago US markets close with steep losses as Trump tariffs branded ‘worst self

Wall Street stocks tumbled again as investors remain jittery while former US treasury chief criticises Trump’s economic policyChina and the European Union have exchanged views on strengthening their economic and trade cooperation in response to US tariffs, the Chinese commerce ministry said on Thursday, according to Reuters news agency.In a video call on Tuesday, China’s commerce minister Wang Wentao discussed with European trade and economic security commissioner Maros Sefcovic the restart of talks on trade relief and to immediately carry out negotiations on electric vehicle price commitments, the Chinese ministry statement said. Continue reading...

Economics

2 w. ago US tariffs on China now 145%, as Trump’s policy branded ‘worst self

Total combines Trump’s ‘reciprocal’ tariffs of 125% and the 20% fentanyl levy, while former US treasury chief criticises Trump’s economic policyChina and the European Union have exchanged views on strengthening their economic and trade cooperation in response to US tariffs, the Chinese commerce ministry said on Thursday, according to Reuters news agency.In a video call on Tuesday, China’s commerce minister Wang Wentao discussed with European trade and economic security commissioner Maros Sefcovic the restart of talks on trade relief and to immediately carry out negotiations on electric vehicle price commitments, the Chinese ministry statement said. Continue reading...

Politics

2 w. ago Former US treasury secretary slams Trump tariffs as ‘worst self

Janet Yellen, who also is a former Federal Reserve chair, says Trump’s economic policies increase likelihood of recessionRead the latest full reportUS-China trade war intensifies as Beijing’s tariffs come into effect after Trump pauseChina and the European Union have exchanged views on strengthening their economic and trade cooperation in response to US tariffs, the Chinese commerce ministry said on Thursday, according to Reuters news agency.In a video call on Tuesday, China’s commerce minister Wang Wentao discussed with European trade and economic security commissioner Maros Sefcovic the restart of talks on trade relief and to immediately carry out negotiations on electric vehicle price commitments, the Chinese ministry statement said. Continue reading...

Politics