4 h. ago Whiplash reversals mean Trump’s erratic trade policy is as clear as mud

The specifics of the administration’s economic masterplan – from strollers to movies to China – change by the dayDecades of economic orthodoxy failed millions of Americans, according to Donald Trump, who marched back into the White House promising to shred the status quo. But the specifics of his alternative – exactly how his administration claims it will make America great again – change by the day.The US president declared this week to be a key milestone of his second term, as he unveiled his first major trade deal since returning to office following accelerated talks with the UK. Continue reading...

Politics

46 h. ago UK interest rates fall to 4.25% as Bank of England announces a quarter

Move follows run of downbeat economic data and looks to cushion UK from Trump’s trade war falloutExplainer: what does it mean for mortgages and savings?Analysis: mood-boosting rate cut is a fillip for Reeves but leaves future uncertainBusiness live – latest updatesBank of England policymakers have cut interest rates by a quarter point to 4.25% to cushion the UK economy against the impact of Donald Trump’s trade war.The widely expected move from the Bank’s monetary policy committee (MPC), its fourth cut since last August, also carried a warning that the UK economy would slow by a further 0.3% over the next two years in addition to dramatic cuts to its forecasts earlier this year. Continue reading...

Politics

63 h. ago Federal Reserve warns of inflation and jobs risks amid Trump’s erratic trade strategy

Central bank says ‘uncertainty has increased’ as it opts to maintain benchmark interest rate for third time in a rowThe Federal Reserve kept interest rates on hold and called out growing dangers in the US economy amid Donald Trump’s erratic rollout of an aggressive trade strategy.Jerome Powell, the US central bank’s chair, cautioned that the president’s tariffs are likely to lift prices, weaken growth and increase unemployment if maintained. Continue reading...

Events

3 d. ago 'Cruel' animal welfare practices 'could be imported to UK due to new trade deal'

As Britain and India sign a new trade deal, Animal Policy International revealed the immense suffering of hens confined to battery cages raising concerns about the potential increase in cruel imports

Economics

4 d. ago Bank of England poised to cut rates as fears grow over impact of Trump tariffs

Markets suggest quarter-point reduction to 4.25% is almost certain but some economists say Bank must go furtherThe Bank of England is poised to cut interest rates on Thursday amid growing concerns over the hit to UK jobs and growth from Donald Trump’s increasingly erratic global trade war.In the Bank’s first intervention since the US president’s “liberation day” tariff policy announcement sent shock waves through the world economy, Threadneedle Street is expected to reduce its key base rate from the current level of 4.5%. Continue reading...

Politics

8 d. ago Apple quarterly earnings beat Wall Street expectations amid Trump trade policy chaos

Trump said consumer electronics will be exempted from his soaring tariffs on China, though it is unclear for how longApple’s second-quarter financials came in slightly higher than Wall Street’s expectations on Thursday.The tech giant reported revenue of $95.4bn, up more than 4% over last year, and earnings-per-share of $1.65 per share, up more than 7%. Analysts had predicted revenue of $94.5bn and earnings of $1.62. The company, worth $3.2tn, has beaten Wall Street’s expectations for the previous four quarters. Continue reading...

Events

8 d. ago Apple to report quarterly earnings amid Trump trade policy chaos

Trump said consumer electronics will be exempted from his soaring tariffs on China but it is unclear for how longInvestors have their eyes on Apple as it prepares to report financial results of the second quarter of the fiscal year on Thursday. The tech giant has been working to calm nervous analysts after Donald Trump levied sweeping tariffs on countries around the world that are likely to complicate supply chains for consumer electronics. Since the beginning of the year, Apple’s stock has slumped 16%.In anticipation of its earnings report, the company’s stock notched up slightly on Wednesday. Analysts are predicting a positive quarter for Apple with an average revenue estimate of $94.56bn, up 4.2% over last year, and earnings of $1.62 per share, up 5.8%. The company, worth $3.2tn, has beaten Wall Street’s expectations for the previous four quarters. Continue reading...

Events

9 d. ago Trump tariffs cause fastest slump in British factory export orders in five years – business live

Live, rolling coverage of business, economics and financial markets as UK manufacturers report falling export orders and China signals openness to US trade talks Fhaheen Khan, senior economist at Make UK, a lobby group for British manufacturing, said:UK manufacturers are caught in the eye of a perfect storm, with rising costs and international trade uncertainty undermining growth prospects. While actual changes in trade have been limited, the unpredictability, particularly around US tariff policy, is doing significant damage and paralysing decision makers. Many firms are delaying major investment decisions until greater clarity emerges, while being forced in the meantime to cut costs through redundancies while pushing through price increases.This has left manufacturing experiencing its most severe slowdown in years, with the UK at a competitive disadvantage compared to our European peers who are weathering current challenges relatively better. As a result, it is now vital that gover...

Politics

9 d. ago Tariff turmoil prompts cloudy forecasts from companies for the year ahead

Uncertainty continues to hang over the latest round of financial results and forecasts for companies both big and small as they try to navigate a global trade system severely shaken by a stark shift in U.S. policy

Politics

9 d. ago UPS cites Trump tariffs as it announces expected layoffs of 20,000 workers

Company cites ‘current macro-economic uncertainty’ as sweeping tariffs discourage customers from shippingBusiness live – latest updatesThe United Parcel Service (UPS) is expected to cut about 20,000 jobs in 2025 as a part of a larger plan to reduce costs and increase profit, citing “changes in the global trade policy and new or increased tariffs”.UPS announced the layoffs on Tuesday in its first quarter earnings report. The parcel delivery service said it made consolidated revenues of $21.5bn, compared with $21.7bn about the same time a year ago. Additionally, the company said it would be shuttering 73 leased and owned buildings by the end of June of this year. Continue reading...

Politics

1 week ago UBS, Barclays and SocGen reap trading windfall from market turmoil

Banks become the latest to benefit from volatility triggered by Trump’s aggressive trade policy

Politics

1 week ago Trump's tariffs loom over the economy as shipments from China fall

American businesses are cancelling orders from China, postponing expansion plans and hunkering down to see what trade policy surprises President Donald Trump plans to spring on them next

Politics

2 w. ago A dozen US states sue to stop Trump’s ‘reckless and insane’ tariff policy

Lawsuit rebukes claim that president can arbitrarily impose tariffs based on act intended for emergenciesA dozen states sued the Trump administration in the US court of international trade in New York on Wednesday to stop its tariff policy, saying it is unlawful and has brought chaos to the American economy.The lawsuit said the policy put in place by Donald Trump has been subject to his “whims rather than the sound exercise of lawful authority”. Continue reading...

Politics

2 w. ago Trump’s tariffs spark global recession fears as White House hints at trade deal with China: Live updates

The International Monetary Fund downgraded growth in nearly all countries amid ongoing uncertainty from the Trump administration’s trade policy

Economics

2 w. ago The Guardian view on the IMF’s warning: Donald Trump could cost the world a trillion dollars | Editorial

The US president’s economic agenda collides with fragile financial systems, triggering market fears, investor flight and developing nation chaosWake up! When the most sober of global institutions, the International Monetary Fund, abandons its usual technocratic calm to sound the alarm on the political roots of global financial instability, it’s time to pay attention. The IMF is warning of a non-negligible risk of a $1tn hit to global output, as Donald Trump’s erratic “America first” agenda – part oligarchic enrichment scheme, part mobster shakedown – collides with a perfect storm of global financial vulnerabilities.Such a shock would be equivalent to a third of that experienced in the 2008 crisis. But it would be felt in a much more fragile and politically charged environment. This time, the crisis stems not just from markets but from the politics at the heart of the dollar system. The IMF’s latest Global Financial Stability Report sees the danger in Mr Trump’s trade ...

Events

2 w. ago Trump’s tariffs raise chances of U.S. and global recession to ‘almost 100%’, economist warns: Live updates

The International Monetary Fund downgraded growth in nearly all countries amid ongoing uncertainty from the Trump administration’s trade policy

Events

2 w. ago Trump warned US economic growth to be hit hardest by tariff trade war: Live updates

The International Monetary Fund downgraded growth in nearly all countries amid ongoing uncertainty from the Trump administration’s trade policy

Events

3 w. ago Disengaging from China on business would be ‘foolish’, Rachel Reeves says

Chancellor supports economic ties with Beijing as she prepares to fly to US next week for trade deal talksRachel Reeves has dismissed the idea of economically disengaging from China, amid concerns the US may put pressure on the UK to limit its deals with Beijing.The chancellor, who will discuss a trade deal with the US on a trip to Washington next week, said it would be “very foolish” for Britain to have less involvement with Xi Jinping’s administration. Continue reading...

Politics

3 w. ago Cutting business ties with China would be ‘foolish’, Reeves says amid reports of US pressure

Chancellor supports economic ties with Beijing as she prepares to fly to US next week for trade deal talksRachel Reeves has dismissed the idea of economically disengaging from China, amid concerns the US may put pressure on the UK to limit its deals with Beijing.The chancellor, who will discuss a trade deal with the US on a trip to Washington next week, said it would be “very foolish” for Britain to have less involvement with Xi Jinping’s administration. Continue reading...

Events

3 w. ago UK firms put the brakes on investment plans post tariffs, survey finds

Larger businesses are more likely to be expecting a squeeze from new global trade policy, according to a survey carried out by HSBC UK.

Economics