3 h. ago Empty store shelves are coming as companies cancel orders from China amid tariff concerns

Number of freight vessels scheduled to arrive at the Port of Los Angeles is on track to be down by 31 percent for the week ending May 10

Politics

5 h. ago Trump claims China's President Xi called HIM amid tariffs drama and makes odd comparison regarding their chat

President Donald Trump claimed that China's President Xi Jinping called him amid the countries' tariff drama - as China continued to dispute that trade talks are happening.

Politics

5 h. ago FBI arrests judge for alleged obstruction of immigration arrest operation, Patel says in deleted social post – live

Kash Patel has since deleted the post on X that had said a Wisconsin judge was arrested and accused of helping an immigrant ‘evade arrest’Apple is reportedly planning to switch assembly of all iPhones for the US market to India as the company seeks to reduce its reliance on a Chinese manufacturing base amid Donald Trump’s trade war.The $3tn (£2.3tn) technology company aims to make the shift as soon as next year, the Financial Times reported. Continue reading...

Events

5 h. ago Trade war fears trigger biggest slide in US consumer expectations since 1990 recession – business live

Rolling coverage of the latest economic and financial newsXi announces plan for Chinese economy to counter impact of US trade warEuropean stock markets are rising this morning, amid hopes that China is relaxing some of its tariffs.In London, the FTSE 100 index is up 12 points or 0.13%, at 8417 points. Engineering companies are among the top risers, with aerospare manufacturers Melrose up 3.6%, and Rolls-Royce up 2%, after Safran reported that tariffs on aircraft parts have been lifted.“We learned last night that China has taken the decision not to tax engines or landing gear or nacelles - in other words a certain number of aerospace equipment parts.”“It demonstrates that the situation is very fluid.” Continue reading...

Economics

8 h. ago Energy price cap set to fall in July as Trump tariffs bring unexpected effects

UK households could soon see a £166 drop in bills on average

Politics

9 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

9 h. ago Rachel Reeves says EU trade 'reset' is MORE important than deal with US to dodge Trump's tariffs

Chancellor Rachel Reeves suggested the government could prioritise ties with Brussels ahead of sitting down with Treasury Secretary Scott Bessent.

Economics

10 h. ago Swiss leader says Trump administration foresees ‘privileged’ talks with 15 countries on US tariffs – US politics live

Karin Keller-Sutter, Swiss president, says Switzerland is among 15 countries with which US plans to hold negotiations to reach deals over tariffsThe Swiss president says Switzerland is among 15 countries with which the United States plans to conduct “privileged” negotiations to help reach a deal after sweeping US tariffs on dozens of countries that have shaken global markets, reports the Associated Press (AP).Karin Keller-Sutter, in an interview with broadcaster SRF published Friday, said she was “satisfied” with talks in Washington this week that included an International Monetary Fund conference and her one-on-one meeting with US treasury secretary Scott Bessent. Keller-Sutter also serves as Switzerland’s finance minister. “The United States has defined a group of 15 countries with which it wants to find a quick solution in this tariff question. Switzerland is part of this group of these 15 countries,” she told reporters separately late on Thursday in Washington, according to the ...

Politics

11 h. ago Swiss leader says Trump administration foresees 'privileged' talks with 15 countries on US tariffs

The Swiss president says Switzerland is among 15 countries with which the United States plans to conduct “privileged” negotiations to help reach a deal in the wake of sweeping U.S. tariffs on dozens of countries that have shaken global markets

Politics

11 h. ago Xi announces plan for Chinese economy to counter impact of US trade war

Beijing will ‘strengthen bottom-line thinking’ as reports say it could drop tariffs on some US products Business live – latest updatesXi Jinping has announced a plan to counter China’s continuing economic problems and the impact of the US trade war, as reports swirl that it could drop tariffs on some US products, including semiconductors.Friday’s meeting of the politburo was convened to discuss China’s economic situation, which since the pandemic has faced difficulties fuelled by a housing sector crisis, youth unemployment, and Donald Trump’s tariffs on all Chinese exports. Continue reading...

Events

12 h. ago Massive blow to Trump as Japanese car giant moves manufacturing OUT of US in tariff twist

Subaru is reshuffling its supply chain in response to President Donald Trump's tariff upheavals.

Politics

13 h. ago China ‘may exempt some US goods’ from tariffs; British retail sales beat forecasts – business live

Rolling coverage of the latest economic and financial newsRachel Reeves used a brief speech to US investors at the British ambassador’s lavish residence in Washington last night, to acknowledge some of the downsides of globalisation, in a nod to Donald Trump’s stance.As she prepares to meet Treasury secretary Scott Bessent today, Reeves said China’s entry into the global trading system 25 years ago had created “huge benefits in terms of cheaper goods, more innovation and more opportunities to trade”.“They voted for change because they didn’t think that the economy worked well enough for them and their families. They saw the erosion of good jobs that paid a decent wage. They saw industries that once powered their towns disappear. And as elected politicians we have to respond to that”.“Some may say that under this very consequential president we have at the moment, this is a rollercoaster period and therefore a challenge to us all. But we would say that a rollercoaster is fine, as lon...

Economics

14 h. ago Trump administration tipped off Wall Street execs about possible India tariff deal: Fox report

The move raises new accusations of insider trading by the Trump administration and its cronies

Economics

21 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

21 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

22 h. ago Billionaire Republican megadonor claims Trump is ‘eroding’ America’s brand with trade war

Ken Griffin donated more than $100m to the GOP during the 2024 election cycle

Politics

23 h. ago Trump tariffs: President vents at China over Boeing as Beijing denies claims of trade deal talks

Beijing called claims of trade talks ‘groundless as trying to catch the wind’ and having ‘no factual basis’ as Trump insisted they were happening

Politics

23 h. ago Trump Revolution: 100 Days That Changed the World has no answer to Trump’s chaos

With fresh outrages issuing from the White House on an almost hourly basis, this Channel 4 documentary struggles to find its bearings – and that may be exactly as the president’s strategists intended it

Politics

23 h. ago Google reports strong earnings amid DoJ antitrust lawsuits and Trump tariffs

Tech giant exceeds Wall Street expectations despite 17% drop in stock price and tariffs levied on its trade partnersGoogle’s parent company Alphabet reported strong first quarter earnings on Thursday, despite being embroiled in antitrust lawsuits brought by the US government and seeing a 17% drop in its stock price since the beginning of the year. This is the company’s first earnings report since Donald Trump levied tariffs on trade partners around the world.Despite the upheaval for Alphabet, it exceeded Wall Street’s expectations, reporting revenue of $90.23bn, up 12% since the same time last year, and $2.81 in earnings per share. Analysts had projected first quarter revenue of $89.2bn and earnings of $2.01 per share, according to consensus estimates. The global tariffs were not expected to create much of an impact for Alphabet, since they were mostly instituted after the end of the quarter. Continue reading...

Politics

25 h. ago Google to report earnings amid justice department lawsuits and Trump tariffs

Parent company to report revenue as it’s embroiled in 17% drop in stock price and tariffs levied on its trade partnersGoogle’s parent company Alphabet will report its first quarter earnings on Thursday, which come as the tech giant is embroiled in antitrust lawsuits brought by the US government and a 17% drop in its stock price since the beginning of the year. It’s also the company’s first earnings report since Donald Trump levied tariffs on trade partners around the world.Despite the upheaval, analysts appear optimistic on Alphabet’s outlook projecting first quarter revenue of $89.2bn, up 11% since the same time last year, and earnings of $2.01 per share, up 7%, according to consensus estimates. Analysts don’t expect the global tariffs to create much of an impact for Alphabet, since they were mostly instituted after the end of the quarter. Continue reading...

Politics