23 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

24 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

30 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

57 h. ago China stockpiles oil as Trump tariff shock hits crude prices

Imports surged in March and continued to accelerate despite concerns global economy will weaken

Events

6 d. ago FTSE 100 jumps amid global stock rally after Trump rows back on tariff threats

The US president said that sky-high trade tariffs on China will ‘come down substantially but it won’t be zero’, prompting stock markets to surge.

Politics

6 d. ago Stock markets rise as Trump backtracks on high China tariffs and firing Fed chair

Weeks of tough talk from the US president, who now says he will be ‘very nice’ to China, had rattled investors Stock markets have risen around the world after Donald Trump said his tariffs on China would come down “substantially” and he had “no intention” of firing the chair of the US central bank, Jay Powell.Weeks of tough talk on trade from White House officials have rattled investors and Trump now appears to be softening his tone. The president told reporters in Washington on Tuesday he planned to be “very nice” to China in trade talks and that tariffs could drop in both countries if they could reach a deal, adding: “It will come down substantially, but it won’t be zero.” Continue reading...

Politics

7 d. ago Trump live updates: Just 37% of Americans approve of president’s handling of economy, poll shows

The majority of Americans now fear a recession, even as Donald Trump conceded ultra-high tariffs on China would fall but warned they would not hit zero

Politics

7 d. ago Trump latest updates: Elon Musk to ‘significantly’ step back from DOGE role after Tesla profits plunge

Musk told investors that he would likely cut back his work for Donald Trump’s Department of Government Efficiency to one or two days a week

Politics

7 d. ago Dow is heading for its worst April since the Great Depression as investors fear Trump’s tactics

Chief investment officer says it’s ‘impossible to commit capital to an economy that is unstable and unknowable because of policy structure’

Politics

8 d. ago US stock markets fall again as Trump calls Fed chair ‘a major loser’

President amps up attacks against Jerome Powell, pushing him to lower interest rates to offset impact of tariffsUS stock markets started falling again on Monday morning as Donald Trump continued attacks against the Federal Reserve chair, Jerome Powell, who Trump called “a major loser” for not lowering interest rates.“There can be a slowing of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW,” Trump wrote on social media. Continue reading...

Politics

9 d. ago ‘Sell America’: investors are increasingly avoiding the US – here’s what it means for Australian markets

After decades as a safe haven, Donald Trump’s economic upheaval has some traders looking to put their money elsewhere – and countries looking to decouple their economiesElection 2025 live updates: Australia federal election campaignGet our afternoon election email, free app or daily news podcastAt the same time as Australians are cutting back on plans to visit the US under Donald Trump, a new type of investment strategy designed to avoid America is fast gaining popularity.The “sell America trade”, an expression that barely existed before Trump spooked markets by unveiling his new tariff regime late on 2 April, is now a common expression among traders and appears regularly in investment notes to explain the day’s price movements. Continue reading...

Economics

1 week ago Wall Street slashes stock market forecasts amid Trump tariff fears

Banks expect gain of just 2% for S&P 500 this year, with JPMorgan and BofA among those lowering estimates

Politics

2 w. ago Trump latest: China warns president to ‘stop whining’ over tariffs after US curbs Nvidia chip sales in trade war

It comes as Donald Trump claims the U.S is taking in ‘record’ tariffs after raising import duties

Events

2 w. ago Donald Trump ally Marjorie Taylor Greene made huge stock market moves BEFORE tariffs were halted

Alexandria Ocasio-Cortez on warpath after it was revealed Trump devotee Marjorie Taylor Greene bought large amounts of stock just hours before president's tariff pause.

Politics

2 w. ago Marjorie Taylor Greene's huge stock buy the day before Trump's tariff U

Marjorie Taylor Greene has admitted to purchasing between tens and hundreds of thousands of dollars worth of stock the day before and the day of Donald Trump's tariff pause.

Politics

2 w. ago FTSE and global markets bounce back after Trump’s tech tariff reprieve

Investors welcomed a carve-out benefiting companies such as Apple – but White House officials have downplayed the exemptions

Politics

2 w. ago ‘The sky won’t fall’: China plays down Trump tariff risks as stock markets rally

Chinese customs official says trade has diversified away from US in recent years and plays up its ‘vast domestic market’Business live – latest updatesChina has played down the risk of damage to its exports from Donald Trump’s tariffs, with an official saying the “the sky won’t fall”, as stock markets rose on Monday amid signs of a retreat on electronics restrictions.The world’s second-largest economy has diversified its trade away from the US in recent years, according to Lyu Daliang, a customs administration spokesperson, in comments reported by state-owned agency Xinhua. Continue reading...

Politics

2 w. ago Stock markets rise on signs of Trump tariff retreat; British Steel races to keep furnaces burning – business live

Chinese exports jump as official says ‘the sky won’t fall,’ despite warning from US officials that smartphone and laptop exemption from import tariffs on China will be short-livedMatt Britzman, senior equity analyst at Hargreaves Lansdown, said:Just when it seemed the tariff chaos couldn’t get any worse, tech investors have spent the weekend scrambling to make sense of a whirlwind of confusing - and at times contradictory - messages coming out of the White House. Despite the drama, European markets have taken an easing stance on US tech components as a positive in a broad-based rally this morning, with the FTSE 100 up 1.5% in early trading.This time, it’s chips, smartphones, and other tech components taking centre stage. While there were early signs on Friday night that some broad exemptions might be in play, it turns out tariffs are still very much on the table. But here’s the twist: despite the messy rollout, what’s caught investors’ attention is the news that these products won’t...

Economics

2 w. ago Global stocks lifted by US reprieve for Trump’s tech tariffs

President suggests need for ‘flexibility’ but insists smartphone carve-out is temporary

Politics

2 w. ago Experts detail what is best to stockpile with tariffs in place: ‘Let’s not go full 2020 toilet paper crisis mode’

Tariffs are expected to increase spending costs by over $1,000 per household

Events