4 d. ago Xi and Modi say they are ‘partners not rivals’ in bid to repair ties

Donald Trump’s trade war drives a rapprochement between the world’s two most populous countries

Politics

7 d. ago Lotus to cut 550 UK jobs amid auto industry ‘uncertainty’ including Trump tariffs

Production in Norfolk due to restart in early September but sportscar maker announces ‘restructuring proposal’Sportscar maker Lotus has confirmed it will cut 550 jobs in the UK as part of wider restructuring plans that will deliver a fresh blow to Britain’s automotive industry.Lotus, which has been struggling with a drop in sales and cash shortages, said it was necessary to slash 42% of its 1,300-strong UK workforce to “secure a sustainable future”, amid uncertainty sparked by factors including Donald Trump’s trade war. Continue reading...

Politics

7 d. ago Lotus to cut 550 UK jobs amid ‘uncertainty’ including Trump tariffs

Chinese-owned sportscar maker insists it is committed to Britain and will restart production in Norfolk in September The sportscar maker Lotus has confirmed it will cut 550 jobs in the UK as part of wider restructuring plans that will deliver a fresh blow to Britain’s automotive industry.Lotus, which has been struggling with a drop in sales and cash shortages, said it was necessary to cut 42% of its 1,300-strong UK workforce to “secure a sustainable future”, amid uncertainty sparked by factors including Donald Trump’s trade war. Continue reading...

Politics

1 week ago Fed chair Jerome Powell signals interest rate cuts amid Trump attacks

Jerome Powell – who Trump has urged to resign – addressed ‘challenging’ dichotomy of economic risks, including tariffsThe Federal Reserve is gearing up to resume cuts to interest rates, its chair, Jerome Powell has signaled, as he warned Donald Trump’s tariffs and immigration crackdown had roiled the global economy and hit the US workforce.For months, Powell has ignored demands from the president to cut interest rates and defied the US president’s calls to resign. But as Trump ramps up his extraordinary attack on the Fed’s independence, Powell suggested on Friday that Fed officials are considering a rate cut. Continue reading...

Politics

2 w. ago Trump’s promise of a US manufacturing renaissance leaves experts scratching their heads

Economists doubt US duties will bring about a resurgence of US factory jobs, notably due to Trump’s erratic tariff rolloutDonald Trump’s hugely disruptive trade war is setting the stage for a manufacturing renaissance in the US, administration officials say. Outside the White House, many economists are skeptical.Global trade experts point to many reasons they believe the president’s tariffs will fail to bring about a major resurgence of manufacturing, among them: Trump’s erratic, constantly changing policies, his unfocused, across-the-board tariffs, and his replacing Joe Biden’s carrot-and-sticks approach to brandish sticks at the world. Continue reading...

Politics

2 w. ago Trump is promising a US manufacturing renaissance. Many experts are dubious

Economists doubt US duties will bring about a resurgence of US factory jobs, notably due to Trump’s erratic tariff rolloutDonald Trump’s hugely disruptive trade war is setting the stage for a manufacturing renaissance in the US, administration officials say. Outside the White House, many economists are skeptical.Global trade experts point to many reasons they believe the president’s tariffs will fail to bring about a major resurgence of manufacturing, among them: Trump’s erratic, constantly changing policies, his unfocused, across-the-board tariffs, and his replacing Joe Biden’s carrot-and-stick approach to brandish sticks at the world. Continue reading...

Politics

2 w. ago ‘Luck running out’ for Swiss economy as growth slows ahead of US tariff hit

GDP only expanded by 0.1% in second quarter, adding to pressure on central bank to return to negative interest rates

Economics

3 w. ago Chinese economy slows as Trump tariffs bite; FTSE 100 on track to hit new record

Rolling coverage of the latest economic and financial newsThe owner of Kingsmill has agreed to buy its rival bakery business Hovis, in a deal that could make the biggest bread brand in the country if it gets the green light from regulators.Associated British Foods, a FTSE 100 company which also owns the retailer Primark, has agreed to buy Hovis from the private equity firm Endless.This transaction will create a UK bakeries business that is both profitable and sustainable over the long term. Supporting the Hovis and Kingsmill brands with well-invested and efficient operations will also enable innovation and growth. This solution will create value for shareholders, provide greater choice for consumers and increase efficiencies for customers.Firms may be running on existing capacity rather than building new plants The July industrial value-add breakdown tells a more nuanced story than the weak fixed asset investment headline. Continue reading...

Politics

3 w. ago US wholesale prices jump 3.3% as Trump trade war hits economy

Rise in Producer Price Index in July was the highest since February

Economics

3 w. ago UK economy posts surprise 0.3% growth in three months to June

GDP figure slower than previous quarter but beats expectations thanks to 0.4% expansion last monthThe UK economy grew at a faster rate than expected in the second quarter, official figures show, despite pressure on households and businesses from tax increased and Donald Trump’s global trade war.Figures from the Office for National Statistics showed growth in gross domestic product (GDP) slowed to 0.3% in the three months to the end of June, down from a rate of 0.7% in the first quarter. Continue reading...

Politics

3 w. ago UK economic growth slows amid pressure on business and Trump trade war

UK economic growth slowed to 0.3% between April and June, according to the Office for National Statistics.

Economics

3 w. ago Trump delays China tariffs at the last minute and announces 90 day truce

President Donald Trump has once again delayed a showdown between the world’s two biggest economies

Politics

3 w. ago Trump is losing his foolish trade war. This will cost ordinary Americans greatly | Steven Greenhouse

Trump’s trade war has pushed up inflation, slashed US job gains, slowed economic growth and caused the manufacturing sector to sputterThe ever-bombastic Donald Trump has boasted repeatedly of his trade victories, while White House news releases trumpet his “historic trade wins”. The Wall Street Journal echoed Trump’s triumphalism with a headline saying, “Trump is Winning His Trade War”, and last week the New York Times used the exact same words in a headline. That must have been music to the president’s ears.Forgive me for being a spoilsport, but I don’t see where the victory is or how Trump is winning. I keep reading how Trump’s trade war and tariff machinations have pushed up inflation, slashed US job gains, slowed economic growth and caused the manufacturing sector to sputter.Steven Greenhouse is a journalist and author, focusing on labour and the workplace, as well as economic and legal issues Continue reading...

Politics

3 w. ago Trump’s trade war about to cost Americans 1.8% more in the short term, Yale analysis finds

Trump falsely claims tariffs are paid by foreign countries — they are typically paid by American importers

Politics

4 w. ago China's exports and imports picked up in July, helped by the pause in Trump's higher tariffs

China has reported its exports surged 7.2% in July from a year earlier while its imports grew at the fastest pace in a year, as businesses rushed to take advantage of a truce in President Donald Trump's trade war with Beijing

Politics

4 w. ago Trump claims ‘billions of dollars’ now flowing into US after president’s new tariffs come into effect

More than 90 countries have been slapped with new rates as President Trump reignites his trade war

Politics

4 w. ago UK construction activity shrinks by most in five years as housebuilding falls – business live

Rolling coverage of the latest economic and financial newsOpenAI takes on Meta and DeepSeek with free and customisable AI modelsThe contraction in UK construction last month is another reason for the Bank of England to consider cutting interest rates at noon tomorrow.A rate cut, from 4.25% to 4%, is already widely expected – it’ s a 95% chance, according to the City money markets this morning.“The Bank of England is widely expected to cut rates this week in what is likely to be a complex decision as the MPC weighs weak growth, sticky inflation, and a looming fiscal tightening.While markets are pricing in a 0.25% cut, attention will centre on the voting split – particularly how many members vote for a 0.5% move or prefer to hold. Continue reading...

Society

last month ChatGPT firm OpenAI could be valued at $500bn in share sale; Honda Motor profits halve as tariffs bite – business live

Rolling coverage of the latest economic and financial newsOpenAI takes on Meta and DeepSeek with free and customisable AI modelsProfits at Japanese automarket Honda have halved in the last quarter, as Donald Trump’s trade war hit their earnings.Honda, which is Japan’s second-largest carmaker, has reported quarterly operating profit of ¥244.2bn (£1.24bn) for April-June, missing analyst forecasts of ¥311.7bn.“We’re excited to make this model, the result of billions of dollars of research, available to the world to get AI into the hands of the most people possible.” Continue reading...

Economics