50 m. ago Trump’s national security adviser Mike Waltz to leave post weeks after Signal group chat scandal – live

Trump opted not to fire Waltz to avoid media backlash, sources tell GuardianTrump’s national security adviser to leave postThe Trump administration is seeking to strip collective bargaining rights from large swaths of federal employees in a test case union leaders argue is part of a broader attack on US labor unions that could land before the US Supreme Court.A Trump win would deliver a severe blow to labor unions in the US. Some 29.9% of all federal workers were represented by labor unions in 2024 compared to 11.1% for all US workers. Continue reading...

Politics

80 m. ago Companies are rushing to ship goods into the US ahead of tariffs. It’s masking the economic cliff

The U.S. GDP shrank in the first quarter, reflecting the import surge

Economics

1 hour ago Trump’s national security adviser and deputy to leave posts, reports say – live

Mike Waltz and Alex Wong to leave White House roles after scrutiny following the Signal group chat scandal, multiple US media outlets reportThe Trump administration is seeking to strip collective bargaining rights from large swaths of federal employees in a test case union leaders argue is part of a broader attack on US labor unions that could land before the US Supreme Court.A Trump win would deliver a severe blow to labor unions in the US. Some 29.9% of all federal workers were represented by labor unions in 2024 compared to 11.1% for all US workers. Continue reading...

Politics

1 hour ago Stephen Miller claims Trump ‘has literally saved America’ as White House continues to deflect from bad economic news

The longtime White House staffer would not acknowledge any downsides to Trump’s flagrant use of tariffs

Politics

3 h. ago The Latest: Resolution to block Trump’s global tariffs is voted down by Senate

Senate Republicans narrowly voted down a Democratic resolution that would have blocked global tariffs announced by President Donald Trump earlier this month, giving the president a modest win as lawmakers in both parties have remained skeptical of his trade agenda

Politics

3 h. ago US has approached China seeking talks on Trump tariffs, says state social media

Development may be indication China is softening on beginning negotiations over American 145% tariffsUS politics live – latest updatesThe US has approached China seeking talks over Donald Trump’s 145% tariffs, a social media account affiliated with Chinese state media has said, potentially signalling Beijing’s openness to negotiations.“The US has proactively reached out to China through multiple channels, hoping to hold discussions on the tariff issue,” Yuyuan Tantian reported in a post published on its official Weibo social media account, citing anonymous sources. Continue reading...

Politics

3 h. ago US treasury secretary urges Fed chair to cut interest rates as Trump claims shrinking economy isn’t related to tariff war – live

Bessent urges Powell to cut interest rates, echoing Trump’s demands; US president claims economic slowdown ‘nothing to do with tariffs’Trump’s tariffs: ‘It feels like Covid 2.0. So many things are getting disrupted’The Trump administration is seeking to strip collective bargaining rights from large swaths of federal employees in a test case union leaders argue is part of a broader attack on US labor unions that could land before the US Supreme Court.A Trump win would deliver a severe blow to labor unions in the US. Some 29.9% of all federal workers were represented by labor unions in 2024 compared to 11.1% for all US workers. Continue reading...

Society

3 h. ago McDonald’s posts surprise decline in global sales in first quarter

Firm was navigating ‘toughest of market conditions’ when Trump’s tariffs worsened wallet pressures on consumersMcDonald’s posted a surprise decline in first-quarter global sales on Thursday, as demand from cash-strapped diners in its key markets faltered on uncertainty sparked by chaotic tariffs.The company was navigating the “toughest of market conditions”, the company’s CEO Chris Kempczinski said, as global comparable sales fell 1%, while analysts on average had estimated a 0.95% rise. Continue reading...

Politics

5 h. ago Trump live: Kamala Harris breaks silence to warn president’s tariff war inviting recession

Former Democratic vice president and White House challenger calls trade aggressions the ‘greatest man-made economic crisis in modern presidential history’

Events

6 h. ago McDonald’s US sales drop by most since height of pandemic in 2020

Fall comes as Trump’s tariffs knock consumer sentiment

Events

6 h. ago Trump tariffs cause fastest slump in British factory export orders in five years

Decline in output and new orders in April allied with rising uncertainty is prompting layoffs, survey findsBusiness live – latest updatesBritain’s factories suffered a slump in export orders last month as Donald Trump’s globally unsettling tariff regime sent overseas demand for UK goods tumbling at the fastest pace in five years.Manufacturers reported rising economic and trade uncertainties in April as some tariffs took effect and other threatened border taxes loomed, forcing them to lay off workers for a sixth consecutive month. Continue reading...

Politics

7 h. ago Trump’s tariffs: ‘It feels like Covid 2.0. So many things are getting disrupted’

Pittsburgh residents, workers and business owners react to the increasingly fraught trading reality now upending supply chains and hitting prices“In a lot of ways it feels like Covid 2.0. So many things are getting disrupted so quickly.” Like so many businesses across Donald Trump’s America, Matt Katase’s craft brewery, Brew Gentleman, is having to contend with a bafflingly uncertain trading environment.The brewery’s chief operating officer, Alaina Webber, says: “For the first time, as a company in operation going on 15 years, we’ve started to get explicit emails that say: ‘On this existing order, you are now going to see a 30%, then to a 130% increase.’” Continue reading...

Politics

7 h. ago Trump tariffs cause fastest slump in British factory export orders in five years – business live

Live, rolling coverage of business, economics and financial markets as UK manufacturers report falling export orders and China signals openness to US trade talks Fhaheen Khan, senior economist at Make UK, a lobby group for British manufacturing, said:UK manufacturers are caught in the eye of a perfect storm, with rising costs and international trade uncertainty undermining growth prospects. While actual changes in trade have been limited, the unpredictability, particularly around US tariff policy, is doing significant damage and paralysing decision makers. Many firms are delaying major investment decisions until greater clarity emerges, while being forced in the meantime to cut costs through redundancies while pushing through price increases.This has left manufacturing experiencing its most severe slowdown in years, with the UK at a competitive disadvantage compared to our European peers who are weathering current challenges relatively better. As a result, it is now vital that gover...

Politics

8 h. ago China hints at openness to trade talks with US; Tesla denies board search for Musk successor – business live

Live, rolling coverage of business, economics and financial markets as Chinese state-controlled social media says US has approached China for trade talksLloyds Banking Group has reported a 7% drop in pre-tax profit to £1.5bn in its first quarter, and is bracing for the ripple effect from Trump’s tariffs on its balance sheet.The high street bank said that it has set aside £309m to account for possible bad debts, compared with previous guidance of £274m, as it added a £35m net charge to prepare for the possible impact on the economic outlook from President Trump’s tariffs.The US has proactively reached out to China through multiple channels, hoping to hold discussions on the tariff issue.Yuyuan Tantian is not among China’s most authoritative state media outlets. The Global Times, which is owned by the newspaper of the governing Communist Party, People’s Daily, has often been first to report China’s next steps in trade disagreements over the past few years.Guo Jiakun, a spokesperson fo...

Politics

9 h. ago Tesla denies board search for Elon Musk’s successor; Trump tariffs to slash growth, says Bank of Japan – business live

Live, rolling coverage of business, economics and financial markets as US electric carmaker says report board is looking for next Tesla boss is ‘absolutely false’National Grid, the FTSE 100 company that owns the UK’s electricity network, has appointed Shell oil executive Zoë Yujnovich as chief executive after the retirement of John Pettigrew.Yujnovich was until recently working at FTSE 100 oil company Shell, where she was director of integrated gas and upstream (oil production) and a member of the executive committee. She previously led the Iron Ore company of Canada, part of Rio Tinto.I firmly believe in the vital function energy companies play in driving change and creating value. On both sides of the Atlantic National Grid has an essential role to play in making energy secure, affordable and reliable for our customers and communities. I’m excited about leading National Grid as it delivers on the growth opportunities ahead. Continue reading...

Economics

10 h. ago Ship broking giant Clarksons issues profit warning as Trump's tariffs hit rates

FTSE 250 listed company says profits will be in the range of £85 million to £95 million

Events

11 h. ago Canada election results live: Trump says ‘nice gentleman’ Carney to visit White House next week amid tariff row

Carney says Trump won’t succeed with his ambitions to expand US territory

Politics

15 h. ago Trump on tariff deals at town hall: ‘I’m in less of a hurry than you’

The president appeared to row back on claims he had already made agreements with hundreds of countries, downgrading them to just a handful of ‘potential deals’

Economics

20 h. ago Barclays boss warns of slowdown in dealmaking and lending due to Trump's tariffs

The bank, led by chief exec CS Venkatakrishnan (pictured) was boosted by frenetic trading activity as Trump's trade policies wreaked havoc on global markets.

Economics

20 h. ago Aston Martin cuts US exports as tariffs batter car industry: Mercedes, Stellantis and VW also sound the alarm over Trump trade war turmoil

The car industry was rocked when Trump announced a 25% charge on vehicle and part imports in a bid to ramp up domestic manufacturing.

Events