Confederation of British Industry calls for reset with EU

The Confederation of British Industry has called for the UK government to take “practical steps” to ease travel, cut red tape and take joint action on energy, climate and defence in its relationship with the European Union.   The CBI says the current setup is “no longer fit for purpose” in a world of rising […]

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Nissan to cut 11,000 jobs and shut seven factories

Japanese carmaker Nissan has said it will cut another 11,000 jobs globally and shut seven factories as it shakes up the business in the face of weak sales.   Falling sales in China and heavy discounting in the US, its two biggest markets, have taken a heavy toll on earnings, while a proposed merger with […]

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Markets rise as US and China agree to cut tariffs

Share markets jumped on Monday after President Trump said weekend talks had resulted in a “total reset” in trade terms between the US and China, a move which goes some way to defuse the high stakes stand-off between the two countries.   The talks in Switzerland resulted in significant cuts to the tit-for-tat tariffs that […]

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US and China agree to cut tariffs for 90 days

The US and China have agreed a deal that will significantly cut the import tariffs, or taxes, both sides have imposed on one another for a 90-day period.   US Treasury Secretary Scott Bessent said both countries would lower their reciprocal tariffs by 115% for 90 days.   The announcement came after the two countries […]

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Bank boss calls for UK to rebuild trade with EU

The governor of the Bank of England has said the UK now needs to “rebuild” its trade relationship with the European Union and do “everything we can” to improve long-term trade, after Thursday’s US deal.   Andrew Bailey said that as a public official he did not take a view on Brexit, but that reversing […]

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US and China to start talks over trade war

US and Chinese officials are set to start talks this week to try to deescalate a trade war between the world’s two biggest economies.   Chinese Vice Premier He Lifeng will attend the talks in Switzerland from 9th to 12th May, China’s Ministry of Foreign Affairs says.   US Treasury Secretary Scott Bessent and US […]

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U.S. Federal Reserve holds rates because of tariff ‘uncertainty’

The US central bank has warned that President Donald Trump’s tariffs have created “so much uncertainty” that it is unsure what to do about interest rates.   The Federal Reserve announced on Wednesday it would keep interest rates unchanged, despite pressure from Trump to lower borrowing costs.   But Fed chairman Jerome Powell said the […]

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