31 h. ago Homeowners spend on renovations and repairs despite the uncertain economy and higher prices

U.S. homeowners are boosting spending on home renovation projects, bucking a broader pullback by consumers amid diminished confidence in the economy

Economics

33 h. ago FTSE 100 Live 23 May: Sterling higher after retail surprise, energy bills fall

Household energy bills will fall by 7% from July after the latest energy price cap was revealed by Ofgem today.

Science

34 h. ago FTSE 100 Live 23 May: Food sales drive retail surprise, energy bills fall

Household energy bills will fall by 7% from July after the latest energy price cap was revealed by Ofgem today.

Society

43 h. ago UK consumer confidence improves due to better economic sentiment

Survey suggests British households may be regaining some willingness to spend

Economics

1 week ago Trump tariff threat worries India’s film industry: ‘Could end theatrical releases in US’

US president wants to impose 100 per cent levy on all films made outside US

Politics

2 w. ago UK services sector shrinks for first time in 18 months amid tariff worries

The S&P Global UK services PMI survey scored 49.0 in April, down from 52.5 in March.

Politics

2 w. ago UK consumer confidence at lowest level since December 2022, says Which?

Almost two-thirds of people believe economy will get worse in next 12 months amid tariffs uncertainty and Ukraine warConsumer confidence in the UK economy has fallen to the lowest levels since the height of the cost of living crisis, as people worry about the impact of US tariffs and Russia’s war in Ukraine.Almost two-thirds of people believe the economy will get worse in the next 12 months, while only 11% think it will improve, according to a survey from the consumer group Which?. Continue reading...

Politics

3 w. ago US consumer confidence plunges to lowest in 5 years on tariff worries

Americans’ confidence in the economy slumped for the fifth straight month to the lowest level since the onset of COIVD-19 as worries about the impact of tariffs take a heavy toll on consumer expectations for future growth

Politics

4 w. ago Pakistan and India exchange fire as UN calls for ‘maximum restraint’

Countries trade blows across line of control in disputed Kashmir as tensions rise after deadly shootingTroops from Pakistan and India exchanged fire overnight across the line of control in disputed Kashmir, officials have said, after the UN urged the nuclear-armed rivals to show “maximum restraint” after a deadly shooting in the region.Relations have plunged to their lowest level in years, with India accusing Pakistan of supporting “cross-border terrorism” after gunmen carried out the worst attack on civilians in contested Muslim-majority Kashmir for a quarter of a century. Continue reading...

Events

4 w. ago Kashmir attack: Indian army chief to visit Srinagar as UN urges ‘maximum restraint’

UN calls for tensions between India and Pakistan to be resolved peacefully as relations plunge to lowest level in years following deadly shootingIndia’s army chief was set to lead a high-level security review in Srinagar on Friday, days after militants opened fire on tourists in Indian-held Kashmir, killing 26 civilians in one of the worst such attacks in years.The brazen assault, carried out in a mountain meadow near Pahalgam, has derailed prime minister Narendra Modi’s claims of restored calm in the restive Himalayan territory and sent tensions soaring between nuclear-armed India and Pakistan. Continue reading...

Events

4 w. 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

4 w. 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

4 w. 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

last month 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

last month 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