42 m. ago Trump approves first weapons shipment to Ukraine since becoming president, report says, after minerals deal agreed – Europe live

Trump administration suspended delivery of US military aid to Ukraine in March but is now set to restore exportsUkraine and the US signed a long-awaited minerals deal last night, signaling a major step forward in bilateral relations. But the full text of the agreement, including key details on the contentious small print issues that dragged out negotiations, has yet to be made public.Ukrainian prime minister Denys Shmyhal suggested yesterday that the process of ratifying the agreement could start today, with party consultations. Expect more details to emerge. Continue reading...

Politics

4 h. ago US treasury secretary urges Fed chair to cut interest rates as Trump claims shrinking economy isn’t related to tariff war – live

Bessent urges Powell to cut interest rates, echoing Trump’s demands; US president claims economic slowdown ‘nothing to do with tariffs’Trump’s tariffs: ‘It feels like Covid 2.0. So many things are getting disrupted’The Trump administration is seeking to strip collective bargaining rights from large swaths of federal employees in a test case union leaders argue is part of a broader attack on US labor unions that could land before the US Supreme Court.A Trump win would deliver a severe blow to labor unions in the US. Some 29.9% of all federal workers were represented by labor unions in 2024 compared to 11.1% for all US workers. Continue reading...

Society

6 h. ago Trump live: Kamala Harris breaks silence to warn president’s tariff war inviting recession

Former Democratic vice president and White House challenger calls trade aggressions the ‘greatest man-made economic crisis in modern presidential history’

Events

9 h. ago Ukraine’s PM hails ‘good and equal’ minerals deal with US – Europe live

Ukraine to retain ‘full control over resources and infrastructure’ under agreement, says Denys Shmyhal Full report: US and Ukraine sign minerals deal that solidifies investment in Kyiv’s defense against RussiaUkraine and the US signed a long-awaited minerals deal last night, signaling a major step forward in bilateral relations. But the full text of the agreement, including key details on the contentious small print issues that dragged out negotiations, has yet to be made public.Ukrainian prime minister Denys Shmyhal suggested yesterday that the process of ratifying the agreement could start today, with party consultations. Expect more details to emerge. Continue reading...

Economics

21 h. ago Trump says kids may only get ‘2 dolls instead of 30’ due to possible toy shortage over trade war with China: Live updates

President tries to deflect blame to predecessor as new GDP figures show U.S. economy contracted for first time in three years

Politics

24 h. ago Trump tries to blame Biden after U.S. economy shrinks amid fears of tariff

President tries to deflect blame to predecessor as new GDP figures show U.S. economy contracted for first time in three years

Politics

27 h. ago Trump blames Biden as US economy shrinks for first time in three years amid tariff fallout

President claims economic downturn has ‘NOTHING TO DO WITH TARIFFS’

Politics

29 h. ago US GDP report to show if economy expanded in last quarter, after eurozone growth accelerates – business live

First estimate of US GDP for Q1 2025 will show whether tariffs hurt growthUK house prices fall but market ‘likely to pick up’ during summerChina manufacturing activity plummets amid Trump tariff warFrance’s economy is likely to “flirt with stagnation” throughout the year, despite the small rebound in GDP in the last quarter, predicts Dutch bank ING.Charlotte de Montpellier, ING’s senior economist for France and Switzerland, explains:The additional customs duties in the US and their direct and indirect impact will delay the French economy’s rebound. We estimate that the direct effect of a permanent 10% import duty in the US on French GDP (via a reduction in exports) will be around -0.1%.Adding to this are the effects of uncertainty, the global economic slowdown and more restrictive fiscal policy, all of which will weigh on French economic activity throughout the year. The cooling in the labour market is likely to limit the recovery in household consumption, and the savings rate is se...

Economics

32 h. ago France and Germany avoid recession as eurozone growth accelerates; Taiwan’s GDP boosted by pre

Rolling coverage of the latest economic and financial news, including growth figures from across EuropeUK house prices fall but market ‘likely to pick up’ during summerChina manufacturing activity plummets amid Trump tariff warFrance’s economy is likely to “flirt with stagnation” throughout the year, despite the small rebound in GDP in the last quarter, predicts Dutch bank ING.Charlotte de Montpellier, ING’s senior economist for France and Switzerland, explains:The additional customs duties in the US and their direct and indirect impact will delay the French economy’s rebound. We estimate that the direct effect of a permanent 10% import duty in the US on French GDP (via a reduction in exports) will be around -0.1%.Adding to this are the effects of uncertainty, the global economic slowdown and more restrictive fiscal policy, all of which will weigh on French economic activity throughout the year. The cooling in the labour market is likely to limit the recovery in household consumptio...

Politics

33 h. ago France and Germany avoid recession as economies return to growth; UK house prices drop – business live

Rolling coverage of the latest economic and financial news, including growth figures from across EuropeUK house prices fall but market ‘likely to pick up’ during summerChina manufacturing activity plummets amid Trump tariff warFrance’s economy is likely to “flirt with stagnation” throughout the year, despite the small rebound in GDP in the last quarter, predicts Dutch bank ING.Charlotte de Montpellier, ING’s senior economist for France and Switzerland, explains:The additional customs duties in the US and their direct and indirect impact will delay the French economy’s rebound. We estimate that the direct effect of a permanent 10% import duty in the US on French GDP (via a reduction in exports) will be around -0.1%.Adding to this are the effects of uncertainty, the global economic slowdown and more restrictive fiscal policy, all of which will weigh on French economic activity throughout the year. The cooling in the labour market is likely to limit the recovery in household consumptio...

Economics

35 h. ago France avoids recession as economy returns to growth; UK house prices drop – business live

Rolling coverage of the latest economic and financial newsChina manufacturing activity plummets amid Trump tariff warAverage UK house prices fell this month, lender Nationwide reports, after the rush to avoid an increase in stamp duty faded.According to Nationwide, house prices fell by 0.6% in April, with the average price dropping to £270,752 from £271,316 in March.Early indications suggest there was a significant jump in transactions in March, with buyers bringing forward their purchases to avoid additional tax obligations.“The market is likely to remain a little soft in the coming months, following the pattern typically observed following the end of stamp duty holidays. Nevertheless, activity is likely to pick up steadily as summer progresses, despite wider economic uncertainties in the global economy, since underlying conditions for potential home buyers in the UK remain supportive. Continue reading...

Economics

51 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

52 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

58 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

3 d. ago Canada election live: Polls open for crucial vote after Trump and his trade war dominate campaign

The Liberal Party – led by current Prime Minister Mark Carney – are seeking to extend their decade in power

Politics

3 d. ago Canada election live: Polls open in crucial vote after Trump and his trade war dominate campaign

The Liberal Party – led by current Prime Minister Mark Carney – are seeking to extend their decade in power

Politics

3 d. ago US tariff war hurting trade with China; M&S tells hundreds of warehouse agency staff not to come to work after cyber

Rolling coverage of the latest economic and financial newsBack in Beijing, China’s foreign ministry has said President Xi Jinping had not spoken to Donald Trump.The ministry also denied that the two administrations are in talks to strike a tariff deal, which contradicts a claim from Trump last week.“As far as I know, the two heads of state have not called each other recently,“I would like to reiterate that China and the U.S. have not conducted consultations or negotiations on the tariffs issue. Continue reading...

Economics

3 d. ago US tariff war hurting trade with China; Beijing ‘confident’ of hitting growth targets – business live

Rolling coverage of the latest economic and financial newsShares in food delivery group Deliveroo have jumped by 17% at the start of trading in London, after receiving a takeover approach from US rival DoorDash.On Friday night, the news broke that DoorDash had offered to buy Deliveroo for $3.6bn (£2.7bn). Continue reading...

Events

6 d. ago ‘Vladimir, stop!’ Trump in rare rebuke to Putin as Kyiv attack toll rises to 12

Intervention comes as US president makes renewed push to end war, reportedly on terms favourable to MoscowEurope live: latest updatesDonald Trump has issued a rare rebuke to Moscow for an air attack that killed 12 people in Kyiv, telling the Russian president in a social media post: “Vladimir, STOP!”The US president’s remarks come as he makes a renewed push to end the Ukraine war, reportedly on terms favourable to Russia that include recognition of Moscow’s 2014 annexation of Crimea, something the Ukrainian president, Volodymyr Zelenskyy, has said he cannot accept. Continue reading...

Politics

7 d. ago ‘Vladimir, stop!’: Trump criticises Putin as Starmer and von der Leyen warn over Russian energy ‘blackmail’ – Europe live

US president says he is ‘not happy’ over Kyiv attack as death toll rises to 12 with 90 people injuredWe understand that while the visit will be cut short after Zelenskyy’s meeting with Ramaphosa, their media activities will still proceed, meaning we should hear from the Ukrainian president in the next few hours.Rachel and I will keep an eye on this development to see if Zelenskyy takes part in a scheduled press conference in Pretoria in case he wants to say more about the attacks overnight. Continue reading...

Events