18 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

22 h. ago Tariff turmoil prompts cloudy forecasts from companies for the year ahead

Uncertainty continues to hang over the latest round of financial results and forecasts for companies both big and small as they try to navigate a global trade system severely shaken by a stark shift in U.S. policy

Politics

24 h. ago UPS cites Trump tariffs as it announces expected layoffs of 20,000 workers

Company cites ‘current macro-economic uncertainty’ as sweeping tariffs discourage customers from shippingBusiness live – latest updatesThe United Parcel Service (UPS) is expected to cut about 20,000 jobs in 2025 as a part of a larger plan to reduce costs and increase profit, citing “changes in the global trade policy and new or increased tariffs”.UPS announced the layoffs on Tuesday in its first quarter earnings report. The parcel delivery service said it made consolidated revenues of $21.5bn, compared with $21.7bn about the same time a year ago. Additionally, the company said it would be shuttering 73 leased and owned buildings by the end of June of this year. Continue reading...

Politics

29 h. ago Barclays profits surge 19 per cent as bank braces itself for global trade war

The UK banking giant increased provisions for loans expected to turn sour, largely driven by £74 million put by for ‘elevated US macroeconomic uncertainty’

Economics

37 h. ago Cocaine, corruption and bribes: the German port under siege by Europe’s criminal drug gangs

After seizure in Hamburg of 16 tonnes of high-purity powder, state attorney is accused of being on payroll of gang he was supposed to be prosecutingIn Hamburg’s spring sunshine, 200,000-tonne cargo ships almost half a mile long, piled high with the same weight in shipping containers, are docked quayside along the Elbe River. Cranes slowly offload the metal boxes packed with everything from raw materials to food and electronics, and, in some, cocaine.Between 2018 and 2023 cocaine seizures rose by 750%, marking out Germany as another major European hub in the ever-expanding global trade. But the influx is not just ramping up addiction, it is also fuelling corruption in a country perceived as being one of the least corrupt in the world. Continue reading...

Events

55 h. ago Trump 100 days: ‘unpredictable’ US alienates allies and disrupts global trade

Trump has cut off Ukraine aid, brokered and lost a ceasefire in Gaza and took a sledgehammer to world commerce100 days of TrumpFor US foreign policy, Donald Trump’s first 100 days in office were the weeks when decades happened.In just over three months, the US president has frayed alliances that stood since the second world war and alienated the US’s closest friends, cut off aid to Ukrainians on the frontlines against Vladimir Putin, emboldened US rivals around the world, brokered and then lost a crucial ceasefire in Gaza, launched strikes on the Houthis in Yemen and seesawed on key foreign policy and economic questions to the point where the US has been termed the “unpredictable ally”. Continue reading...

Politics

6 d. ago FBI arrests judge for alleged obstruction of immigration arrest operation, Patel says in deleted social post – live

Kash Patel has since deleted the post on X that had said a Wisconsin judge was arrested and accused of helping an immigrant ‘evade arrest’Apple is reportedly planning to switch assembly of all iPhones for the US market to India as the company seeks to reduce its reliance on a Chinese manufacturing base amid Donald Trump’s trade war.The $3tn (£2.3tn) technology company aims to make the shift as soon as next year, the Financial Times reported. Continue reading...

Events

6 d. ago Voices: Poll of the day: Do you still believe in the UK–US ‘special relationship’?

Have your say: Is the UK–US “special relationship” still alive, or has Trump’s trade war and shifting global politics turned it into a thing of the past?

Politics

6 d. ago Swiss leader says Trump administration foresees ‘privileged’ talks with 15 countries on US tariffs – US politics live

Karin Keller-Sutter, Swiss president, says Switzerland is among 15 countries with which US plans to hold negotiations to reach deals over tariffsThe Swiss president says Switzerland is among 15 countries with which the United States plans to conduct “privileged” negotiations to help reach a deal after sweeping US tariffs on dozens of countries that have shaken global markets, reports the Associated Press (AP).Karin Keller-Sutter, in an interview with broadcaster SRF published Friday, said she was “satisfied” with talks in Washington this week that included an International Monetary Fund conference and her one-on-one meeting with US treasury secretary Scott Bessent. Keller-Sutter also serves as Switzerland’s finance minister. “The United States has defined a group of 15 countries with which it wants to find a quick solution in this tariff question. Switzerland is part of this group of these 15 countries,” she told reporters separately late on Thursday in Washington, according to the ...

Politics

6 d. ago Reeves rejects parts of Trump’s economic agenda before talks with Bessent

UK chancellor says global stability depends on lower trade barriers ahead of meeting US Treasury secretary

Politics

6 d. ago Rachel Reeves to say world leaders should 'reduce barriers to trade' ahead of meeting with US counterpart over Donald Trump's tariffs and a UK deal

The Chancellor will tell the International Monetary Fund 's spring meeting in Washington that the 'new era of global trade' requires a new system that 'provides security for working people'.

Politics

6 d. ago Reeves moves to appease Trump with new vision for global trade

As the UK scrambles to get a US trade deal, Rachel Reeves has made a speech calling for a new global trade system aimed at dealing with concerns raised by Donald Trump

Politics

6 d. ago Reeves to say global trade should provide ‘security for working people’

Chancellor Rachel Reeves is in Washington for the International Monetary Fund’s spring meeting of finance ministers from the G7 and G20.

Events

7 d. ago Kenyan president vows closer ties to China during visit amid Trump's trade war

Kenyan President William Ruto pledged to build closer ties with China on Thursday, a day after saying a global trade war triggered by Washington could deal a “death blow” to the current world order

Politics

8 d. ago Trump says he is ‘entitled’ to deport people without trials – live

President says it’s not possible to have trials for everyone he wants to deport and that US would otherwise be a ‘very dangerous country’Hegseth blames ousted officials for leaksSpeaking in India, JD Vance has warned that the 21st century could be “a very dark time for all of humanity” depending on the decisions made over global trade and global partnerships at this juncture.The US vice-president said “We are now officially one quarter into the 21st century, 25 years in, 75 years to go. And I really believe that the future of the 21st century is going to be determined by the strength of the US-India partnership. Continue reading...

Politics

8 d. ago Trump’s tariffs spark global recession fears as White House hints at trade deal with China: Live updates

The International Monetary Fund downgraded growth in nearly all countries amid ongoing uncertainty from the Trump administration’s trade policy

Economics

8 d. ago White House says Hegseth ‘doing a tremendous job’ despite latest security lapse – live

Trump press secretary doubles down on fired Pentagon employees who ‘leaked to the mainstream media’ and reiterates president’s support of embattled secretaryHegseth blames ousted officials for leaksSpeaking in India, JD Vance has warned that the 21st century could be “a very dark time for all of humanity” depending on the decisions made over global trade and global partnerships at this juncture.The US vice-president said “We are now officially one quarter into the 21st century, 25 years in, 75 years to go. And I really believe that the future of the 21st century is going to be determined by the strength of the US-India partnership. Continue reading...

Society

8 d. ago The Guardian view on the IMF’s warning: Donald Trump could cost the world a trillion dollars | Editorial

The US president’s economic agenda collides with fragile financial systems, triggering market fears, investor flight and developing nation chaosWake up! When the most sober of global institutions, the International Monetary Fund, abandons its usual technocratic calm to sound the alarm on the political roots of global financial instability, it’s time to pay attention. The IMF is warning of a non-negligible risk of a $1tn hit to global output, as Donald Trump’s erratic “America first” agenda – part oligarchic enrichment scheme, part mobster shakedown – collides with a perfect storm of global financial vulnerabilities.Such a shock would be equivalent to a third of that experienced in the 2008 crisis. But it would be felt in a much more fragile and politically charged environment. This time, the crisis stems not just from markets but from the politics at the heart of the dollar system. The IMF’s latest Global Financial Stability Report sees the danger in Mr Trump’s trade ...

Events

9 d. ago Democrats call for Hegseth to resign as new details emerge on latest intelligence leak – live

Republicans stand behind embattled US defense secretary as NBC News reports Hegseth shared sensitive information from top general to family membersHegseth blames ousted officials for leaksSpeaking in India, JD Vance has warned that the 21st century could be “a very dark time for all of humanity” depending on the decisions made over global trade and global partnerships at this juncture.The US vice-president said “We are now officially one quarter into the 21st century, 25 years in, 75 years to go. And I really believe that the future of the 21st century is going to be determined by the strength of the US-India partnership. Continue reading...

Politics

9 d. ago Trump trade tariffs will trigger UK job loses by the summer unless Starmer seals US trade deal, manufacturers warn amid global turmoil

The head of trade body Make UK said UK firms were already putting in contingency plans to deal with an expected slump in trade caused by the president's swing towards protectionism.

Economics