US hits Chinese electric cars and solar cells with higher tariffs

US President, Joe Biden is ramping up tariffs on Chinese-made electric cars, solar panels, steel and other goods.   The White House said the measures, which include a 100% border tax on electric cars from China, were a response to unfair policies and intended to protect US jobs.   China said it was opposed to […]

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Easing US inflation provokes interest rate cut debate

The pace of price increases in the US showed signs of slowing last month, after a streak of higher-than-expected inflation data had stoked concerns about the world’s largest economy.   Consumer prices rose 3.4% in the 12 months to April, down from 3.5% for the month before, the Labor Department said.   Higher rents and […]

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Apple sales fall throughout most countries

Apple sales have fallen in almost every market across the globe, according to the latest results from the tech giant.   The company said that demand for its smartphones dropped by more than 10% in the first three months of this year, while overall sales fell in every geographic region except for Europe.   Apple […]

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UK exits recession with highest growth in two years

Stronger than expected growth at the start of the year saw the UK emerge from recession.   The economy grew by 0.6% between January and March, the fastest rate for two years, official figures showed.   The UK fell into recession at the end of last year after shrinking for two three-month periods in a […]

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Softening US job growth revives rate cut talk

Job growth in the US cooled last month in a sign that some of the heat may be coming out of the world’s largest economy.   Employers added 175,000 positions in April, while the jobless rate rose from 3.8% in March to 3.9%, the Labor Department said.   It marked the fewest job gains since […]

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US restricts computer chip sales to China

The US government says it has revoked some licences that allowed US chip makers to export certain goods to Chinese technology giant Huawei.   The Department of Commerce did not specify which permits were cancelled but the move follows Huawei’s release of an AI-enabled computer powered by a chip created by Intel.   Since 2019, […]

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UK forecast for slowest growth of richest nations

The UK economy will see the slowest growth of the largest developed nations next year, according to forecasts.   The Organisation for Economic Co-operation and Development (OECD) predicted that UK gross domestic product will rise by 1% in 2025.   This is below the rest of the G7 nations, which include Canada, France, Germany, Italy, […]

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