Rolling coverage of the latest economic and financial newsEuropean stock markets are higher this morning, as investors cling to hopes that Donald Trump’s plan to impose reciprocal tariffs on trading partners could be more targetted than feared.The pan-European Stoxx 600 index has gained 0.57% this morning, with gains on the German DAX (+0.5%), French CAC (+0.9%) and Italian FTSE MIB (+0.7%).US markets are beginning to show some belief that President Trump’s strong arm negotiating tactics on tariffs might not be quite as punitive for the US economy as feared.There are growing hopes that if they are more targeted, as rumoured, they might helpshore up domestic industry, while securing better terms for the US on the global trading stage.Tesla currently faces a number of challenges in Europe, ahead of the launch of its new Model Y mid-size SUV this month. The EV maker has a smaller, ageing lineup while traditional automaker rivals and new Chinese entrants alike continue to launch new, of...
The UK government approved the Lower Thames Crossing, a tunnel connecting Kent and Essex, drawing both support from businesses and criticism. Separately, police determined that a fire at a Heathrow Airport substation was not a criminal matter. Other business news includes a CNBC survey indicating CFOs anticipate a US recession by the end of 2025, Trump Media's plans for "Made in America" ETFs, UK's advancement of satellite calls on standard smartphones, a slump in UK retail sales, concerns about lenders being overly cautious with mortgage stress tests by the FCA chief, HSBC chair's statement about the potential end of globalization, and a rise in German business sentiment.
