20 h. ago IMF warns that trade tensions could test stability of world economy; Reeves ‘confident’ about US trade deal – business live

Rolling coverage of the latest economic and financial newsDonald Trump’s tariffs will make it harder for Sir Jim Ratcliffe’s car division, Ineos Automotive, to reach its first profit.Ineos Automotive’s CEO, Lynn Calder, told Bloomberg that the US president’s 25% tariff on foreign cars will make it harder to hit the earnings target.“For sure, this last week has put a dent in that and, for sure, delayed it,”“We’re stubborn as mules. We’re not easy to knock down.”“With fieldwork completed just days after Donald Trump’s “Liberation Day” tariffs, it is unsurprising that consumer expectations for the economy plummeted to a record low. The original tariff schedule, since reduced for most countries, was expected to reduce growth in the UK and elsewhere. Yet despite this economic pessimism, expectations of retail spending rose slightly as the prospect of Easter shopping drew closer.The state of the economy dropped significantly to -48 in April, down from -35 in March.Their personal financial...

Events

25 h. ago US trade war fears drive UK consumer confidence down to record low; Tesla’s European sales fall again – business live

Rolling coverage of the latest economic and financial newsDonald Trump’s tariffs will make it harder for Sir Jim Ratcliffe’s car division, Ineos Automotive, to reach its first profit.Ineos Automotive’s CEO, Lynn Calder, told Bloomberg that the US president’s 25% tariff on foreign cars will make it harder to hit the earnings target.“For sure, this last week has put a dent in that and, for sure, delayed it,”“We’re stubborn as mules. We’re not easy to knock down.”“With fieldwork completed just days after Donald Trump’s “Liberation Day” tariffs, it is unsurprising that consumer expectations for the economy plummeted to a record low. The original tariff schedule, since reduced for most countries, was expected to reduce growth in the UK and elsewhere. Yet despite this economic pessimism, expectations of retail spending rose slightly as the prospect of Easter shopping drew closer.The state of the economy dropped significantly to -48 in April, down from -35 in March.Their personal financial...

Economics

6 d. ago Show goes on for Ralph Lauren as fashion reels from Trump tariffs

With the sector bracing itself for a global trade war, investors may find comfort in a trusted pair of handsTwo weeks after Donald Trump announced his “liberation day” tariffs, the fashion industry finds itself in turmoil as it tries to navigate the chaos unleashed.Some are calling it the “tariffpocalypse”, with the sector bracing itself for a global trade war, snarling up supplies and hiking costs, alongside plummeting consumer confidence. Continue reading...

Politics

1 week ago BP dropped its green pledges and turned back to oil. Now the price of crude has collapsed

At its AGM this week, the company will face not only the activist investor at its heels, but a global economy being changed from the White HouseAfter Donald Trump’s “liberation day” on Wednesday last week, BP lost almost a quarter of its market value in a share price rout even deeper than the oil giant endured in the wake of the Deepwater Horizon disaster. The collapse in global oil prices in the wake of the US president’s ­tariff blitz may have wiped billions from its ­market value – but Trump isn’t BP’s only problem.The oil company will face shareholders this week for the first time since it bowed to investor pressure to abandon its green energy ambitions in favour of a return to fossil fuels, and its chair, Helge Lund, agreed to step down from the board. Continue reading...

Politics

1 week ago Price hike on Shein? How Trump tariffs could shift the US’s love of fast fashion

Trump ended the ‘de-minimis’ rule while launching a trade war with China – which will make retail giants such as Temu more expensive, experts sayAfter a chaotic week of flip-flopping tariff policies, cheap clothes from China are nearly certain to face a steep price hike soon – prompting concern among fast fashion retailers and potentially pushing consumers to look for other alternatives.As part of a package of global tariff policies announced on “liberation day” last week, Donald Trump signed an executive order that ended a duty-free exemption for low-priced goods to enter the US from China and Hong Kong. Known as the “de-minimis” rule, packages under $800 do not qualify for any taxes or tariffs on the goods and are inspected minimally at the border. Continue reading...

Politics

1 week ago Trump rolls back some more tariffs as his ‘Liberation Day’ plans continue to face scrutiny: Live updates

Electronics exemption to Trump’s tariffs are boost for high-tech companies like Apple and Tesla, as well as China, which still remains under 145 percent levy

Politics

2 w. ago London shares soar after Trump puts most threatened tariffs on pause

However tariffs on China were raised again to an unprecedented 125%

Politics

2 w. ago Asian markets rocket after Trump puts most threatened tariffs on pause

However tariffs on China were raised again to an unprecedented 125%

Events

2 w. ago Donald Trump’s billionaire buds have lost fortunes since ‘Liberation Day’ tariff madness

Elon Musk, Mark Zuckerberg and Jeff Bezos have all seen billions lost from their net worths after shares in their global companies have plummeted since the tariff news

Politics

2 w. ago Airlines and vacation hot spots were ready for a banner year. Then Trump announced his tariffs

The stock market has been extremely volatile since Trump’s ‘Liberation Day’ tariffs announcement

Politics

2 w. ago FTSE 100 Live 09 April: Oil and pharma stocks retreat as heavy selling resumes

Fear returned to the world’s stock markets today after Donald Trump’s swingeing new “Liberation Day” tariffs came into force.

Politics

2 w. ago FTSE 100 Live 09 April: Heavy selling resumes, GSK and Astra slump on tariffs warning

Fear and panic returned to the world’s stock markets today after Donald Trump’s swingeing new “Liberation Day” tariffs came into force.

Events

2 w. ago FTSE 100 Live 09 April: Heavy selling resumes as US tariffs kick in, Brent Crude nears $60

Fear and panic returned to the world’s stock markets today after Donald Trump’s swingeing new “Liberation Day” tariffs came into force.

Society

2 w. ago FTSE 100 Live 09 April: Heavy selling resumes as US tariffs kick in, Brent Crude near $60

Fear and panic returned to the world’s stock markets today after Donald Trump’s swingeing new “Liberation Day” tariffs came into force.

Society

2 w. ago Trump trade chief says US 'running up the score' on Australia as senator slams tariff – video

During a US Senate finance committee hearing, senator from Virginia Mark Warner slams Donald Trump's 10% tariff on Australian imports, referencing the free trade agreement between the two countries and the US trade surplus with Australia. Warner labels the new tariff policy 'insulting' and 'ridiculous', calling Australia 'one of our strongest allies'. Trump's trade chief Jamieson Greer replies that 'we should be running up the score against Australia'► Subscribe to Guardian Australia on YouTubeDonald Trump flags ‘major tariff on pharmaceuticals’ as US senator criticises ‘whack’ on AustraliaAustralian stock market bounces back despite tariff threats after worst session in five yearsDonald Trump hits Australian exporters with 10% tariffs in ‘liberation day’ speech Continue reading...

Politics

2 w. ago Trump ‘waiting for China to call’ as deadline to avoid 50% extra tariff passes – US politics live

US president had threatened to impose extra levies unless China withdrew its 34% retaliatory tariffs todayThe European Union still wants to avoid a trade war with the United States despite Donald Trump’s administration’s rejection of the “zero for zero” offer on all industrial goods put forward by Brussels, an EU spokesperson told reporters on Tuesday.White House trade adviser Peter Navarro said on Monday that the European Union needed to lower its non-tariff barriers, including those created by value-added taxes and food safety regulations, if it wanted to reach a deal. Continue reading...

Politics

2 w. ago From oil to gold: How Trump’s ‘Liberation Day’ shook the world in four charts

The impacts of Trump’s tariffs have hit economies across the world

Politics

2 w. ago From oil to Bitcoin: How Trump’s ‘Liberation Day’ shook the world in four charts

The impacts of Trump’s tariffs have hit economies across the world

Politics

2 w. ago China vows to 'fight to the end' over Trump's tariffs and accuses the US of 'making mistake on top of mistake' with its 'bullying'

China, the world's second-largest economy, responded to Trump's 'Liberation Day' tariffs last week by imposing 34% rates on US imports, directly mirroring the US President's move

Politics

2 w. ago UK drivers handed boost as cost of petrol set to fall by 6p a litre within weeks

It's another consequence of President Trump's 'liberation day' tariffs

Politics