4 h. ago ‘Very problematic’: US apparel bosses say Trump’s tariffs will hurt Americans

The president aims to boost US manufacturing, but insiders warn tariffs will increase costs and destroy businessesAcross the US, many executives leading apparel and textiles businesses are scratching their heads.Tariffs of 145% on goods from China, and tariffs of 10% on goods from much of the rest of the world, have been billed by the White House as a once-in-a-generation efffort to boost domestic manufacturing. Continue reading...

Politics

6 h. ago Company insolvencies jump in March ahead of cost increases and tariffs

The figures relate to the period directly before firms faced higher employment costs, with company national insurance contributions rising in April.

Economics

6 h. ago Mobico to sell US school buses ahead of tariffs driving up fleet costs

The transport group described the sale to infrastructure investor I Squared Capital as a ‘milestone’.

Economics

16 h. ago UK consumer confidence hit by higher household costs and US tariffs

All measures of leading survey drop in April as price rises and Trump import taxes bite

Economics

16 h. ago UK consumer confidence hit in April by Trump tariff concerns

All measures of leading survey drop as price rises and US import taxes bite

Politics

16 h. ago Consumer confidence slides amid household bill hikes and ‘Trump Tariffs’

GfK’s long-running Consumer Confidence Index fell four points in April to minus 23, led by an eight-point fall in expectations for the wider economy.

Politics

23 h. ago Nissan warns of £4bn loss as costs rise and Trump tariffs loom

Japanese carmaker blames worsening outlook on ‘competitive environment and deteriorating sales’Nissan says it expects to lose as much as £4bn this year because a turnaround plan will be more costly than expected.The expected loss at Japan’s third-largest carmaker is almost 10 times the figure it had previously guided. Continue reading...

Economics

31 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

34 h. ago Is a US recession on the horizon amid Trump’s tariffs? | Jeffrey Frankel

Expectations that the Fed will cut short-term interest rates and falling consumer confidence could indicate what is aheadImagine you are sailing a ship through dense fog, looking out for land. Your lookout spots species of birds typically found offshore. It now seems likely that you are approaching land, but it is impossible to know for sure until you see the coastline. If a US recession is land, the “birds” are already swooping into view. But these sightings offer no guarantees of what lies ahead, only probabilities.An inverted yield curve, when the long-term interest rate falls to or below the short-term rate, is commonly considered to be a predictor of recession. The 10-year bond rate did fall below the three-month Treasury rate in March, although the two are now at about the same level. In any case, the yield curve does not actually tell us much. It simply reflects financial market expectations that the US Federal Reserve might cut short-term interest rates in the future, which ...

Politics

35 h. ago Corporate America puts Wall Street on alert over damage from trade war

Executives use earnings calls to lay out costs and supply chain impacts from Donald Trump’s tariffs

Events

3 d. ago Risks to global financial stability surging after Trump tariffs, warns IMF

World body says ‘sharp repricing of risks’ possible amid growing concern over role of ‘nonbank’ lendersIMF warns of ‘major negative shock’ from Trump’s tariffsEditorial: Donald Trump could cost the world $1tnThe global financial system is coming under increasing strain as Donald Trump’s trade war rocks markets, the International Monetary Fund has warned.“Global financial stability risks have increased significantly,” the IMF said in its regular snapshot of the system, urging regulators to be on the alert for potential crises. Continue reading...

Events

3 d. ago Millions could now save £388 on their energy bills – and this tool does the hard work for you

Energy bills just went up – but a new tool shows cheaper tariffs in seconds, with no cost to check and no need to switch unless you save.

Economics

4 d. ago Secondhand stores are poised to benefit if US tariffs drive up new clothing costs

Stores selling secondhand clothing, shoes and accessories are poised to benefit from the Trump administration’s trade war even as global businesses race to avoid potential damage

Economics

6 d. ago US chocolate prices surge amid soaring cocoa costs and tariffs

Price of cocoa – chocolate’s key ingredient – has climbed over past year and tariffs on imports will keep prices highFor many Americans celebrating Easter, the holiday is incomplete without chocolate: chocolate bunnies and eggs, bars tucked into Easter baskets, candy hidden in plastic eggs for Easter egg hunts.But the rocketing cocoa costs will mean higher prices for chocolate candy this year, and Donald Trump’s tariffs on all imports will likely keep prices high for the foreseeable future. Continue reading...

Economics

6 d. ago How Trump tariff chaos will set iPhone costs soaring as expert weighs in on painful hike

EXCLUSIVE: Donald Trump's tariffs will impose increased costs on Chinese produced goods – but with most iPhones being constructed in China, experts warn UK customers could bear some extra costs

Politics

7 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

9 d. ago Apple airlifted iPhones worth $2bn from India in March as Trump tariffs loomed

Tech giant stepped up production and chartered cargo flights with at least six jets to ensure sufficient inventoryApple’s main Indian suppliers Foxconn and Tata shipped nearly $2bn worth of iPhones to the United States in March, an all-time high, as the US company airlifted devices to bypass Donald Trump’s impending tariffs, customs data shows.The smartphone maker stepped up production in India and chartered cargo flights to ferry 600 tons of iPhones to the United States to ensure sufficient inventory in one of its biggest markets based on concern that the US president’s tariffs would push up costs. At least six cargo jets were used in the operation, which one source described as a way to “beat the tariffs”. Continue reading...

Politics

1 week 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

1 week ago Experts detail what its 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

1 week ago Trump’s auto tariffs expected to cost industry over $100 billion, with millions fewer cars sold

Vehicle sales are predicted to plummet from auto tariffs and tightened spending by Americans due to import taxes on other goods

Economics