3 d. ago Reeves eyes Gulf trade pact as UK government’s ‘next deal’ after EU summit – business live

China’s and Australia’s central banks cut interest ratesRachel Reeves said the UK government is closing in on a trade pact with six Gulf nations, including Qatar and Saudi Arabia, as its next major deal.The chancellor told the BBC the agreement would be the government’s “next deal” as it looks to boost trade ties following Brexit.Britain is in a better place than any other country in the world in terms of deals with those countries.The first deal and the best deal so far with the US, we’ve got the best deal with the EU for any country outside the EU, and we’ve got the best trade agreement with India.We are not going to litigate old arguments, we are going to go forward in the spirit of what we do together, we do better.This deal will mean Britain becoming a rule-taker, accepting dynamic alignment, giving up fishing rights and paying new money to the EU. Nobody has lost more than the fishermen. Continue reading...

Politics

7 d. ago Trump says US will unilaterally set tariff rates for some of its trading partners

President says letters revealing rates will be sent out within weeks as US lacks capacity for individual dealsBusiness live – latest updatesDonald Trump has said the US will send letters to some of its trading partners to unilaterally impose new tariff rates, suggesting that Washington lacks the capacity to reach individual trade deals.Highlighting the challenge for the White House to negotiate deals with scores of countries at once, Trump said it was “not possible to meet the number of people that want to see us”. Continue reading...

Politics

7 d. ago Trump says US will unilaterally set new tariff rates for scores of countries

President says letters revealing rates will be sent out within weeks as Washington lacks capacity for individual dealsBusiness live – latest updatesDonald Trump has said the US will send letters to some of its trading partners to unilaterally impose new tariff rates, suggesting that Washington lacks the capacity to reach individual trade deals.Highlighting the challenge for the White House to negotiate deals with scores of countries at once, Trump said it was “not possible to meet the number of people that want to see us”. Continue reading...

Politics

7 d. ago Trump says US will set new tariff rates for scores of countries

President says Washington lacks capacity to strike deals with every nation

Politics

7 d. ago Trump says US will set tariff rates for scores of countries in 2 to 3 weeks

President says Washington lacks capacity to strike deals with every nation

Politics

1 week ago Hamas frees last living US citizen held in Gaza in what Trump calls a ‘good faith step’

American soldier Edan Alexander meets family at Israel border after masked fighters hand him over to Red Cross Hamas has freed the last living US citizen it held in Gaza, soldier Edan Alexander, in a unilateral move Donald Trump described as a “good faith step” towards ending the war and bringing home all remaining hostages.The release of 20-year-old Alexander, a dual national serving in the Israel Defense Forces who spent 584 days in captivity after he was seized from his base on 7 October 2023, was agreed with little Israeli involvement beyond practical coordination on the ground. Continue reading...

Politics

2 w. ago Asian shares trade higher after Wall Street climbs moderately as Fed holds rates steady

Asian shares are rising moderately after a lackluster finish on Wall Street, with most shares ticking higher after the Federal Reserve left its main interest rate unchanged, as was widely expected

Politics

2 w. ago China to cut interest rates in response to trade war with US

Half-point cut to be made to banks’ reserve requirement ratio and 1tn yuan released into banking systemBusiness live – latest updatesChina will cut interest rates and inject some much-needed liquidity into the domestic economy, as the country steels itself for a bruising trade war with the US.The People’s Bank of China said on Wednesday it would make a half-point cut to the banks’ reserve requirement ratio, its benchmark interest rate, and release 1tn yuan (£103.6bn) into the banking system. Continue reading...

Events

2 w. ago UK and eurozone construction declines slow; European markets fall ahead of Fed rate decision – business live

People’s Bank of China cuts interest rates due to global uncertainty and ‘trade tensions’Matthew Pointon, senior commercial real estate economist at Capital Economics, said:The commercial balance was at its lowest since the height of the Covid lockdowns in May 2020. Early signs of a recovery in construction activity in late 2024 have therefore been snuffed out. Elevated interest rates will be partly responsible, but uncertainty caused by the US tariff announcements may also be weighing on activity.Admittedly, UK property is relatively well insulated from the impact, and some sectors may even benefit. Construction costs may also ease if materials that had been destined for the US are rerouted to the UK. But the rise in overall economic uncertainty may cause some developers to delay plans until the outlook becomes clearer. Indeed, the new orders balance saw a small fall to 44.0, from 44.2 in March. Continue reading...

Society

2 w. ago Bank of England set to cut interest rates as US tariff impact hits UK economy

The Bank is trying to ease borrowing costs as economic growth is predicted to be slowed by the impact of Trump's tariffs

Economics

2 w. ago Bank of England set to cut interest rates as US tariff impact in focus

Most economists are expecting rates to be reduced by 0.25 percentage points on Thursday.

Economics

3 w. ago Canada set to vote in election overshadowed by Trump’s tariff and annexation threats

Liberal party looked headed for defeat until American president began threatening Canada's economy and sovereignty

Politics

4 w. ago Trump’s transactional instincts could help forge a new Iran nuclear deal | Mohamad Bazzi

The president has a chance to make good on his reputation as a dealmaker as Iran moves closer to a nuclear weaponIn May 2018, Donald Trump unilaterally withdrew the US from the Iran nuclear deal and reimposed American sanctions that crippled the Iranian economy. Trump tore up the 2015 agreement, which had taken years for Iran to negotiate with six world powers, under which Tehran limited its nuclear program in exchange for relief from international sanctions. Trump insisted he would be able to negotiate a better pact than the one reached by Barack Obama’s administration.Today, in his second term as president, Trump is eager to fix the Iran deal he broke nearly seven years ago.Mohamad Bazzi is the director of the Hagop Kevorkian Center for Near Eastern studies and a journalism professor at New York University. Continue reading...

Politics