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The Latest Breaking News from Economy

UK construction firms shed more staff amid concerns over economy

It came as the commercial construction sector declined at its sharpest rate since the start of 2021, according to new data.

Evening Standard

‘Taxing time’: Beijing to Berlin, Trump’s tariffs dominate world headlines

US President Donald Trump’s announcement of broad “reciprocal tariffs” on imports to the United States has sent shockwaves through global markets and prompted stern responses from world leaders. With a baseline 10 percent tariff on all imports and significantly higher rates for countries Trump described as having “unfair” trade relationships…

Newslaundry

US hiring likely remained robust last month: Can it hold up against tariffs?

New hiring data from the US, set to be released on Friday, will likely be positive. Even so, economists warn of risks ahead from tariffs, DOGE, and restrictions on migration.

Euronews

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IMF warns of ‘significant risk’ to global economy from Trump tariffs as markets plunge

Fund boss Kristalina Georgieva says it is important that US and trading partners avoid escalating trade war

The Guardian - UK

Trump Tariffs To Test Resiliency Of US Consumers

In unveiling tariffs this week challenging the decades-old international trade order, President Donald Trump lambasted globalization as a raw deal for the United States that has devastated US manufacturing towns.

International Business Times

Europe has caught a workplace absenteeism bug, turning one of the continent’s biggest advantages into a multi-billion euro strain

The factors driving sick leave culture can differ but are broadly linked to mental health, welfare benefits, and cultural factors.

Fortune

Asian stocks slid after Wall Street surrendered to a hit by Trump's tariffs

Asian markets are retreating after Wall Street led the biggest loss among world's markets over worries about U.S. President Donald Trump's tariffs

The Independent UK

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Asian Stocks Extend Global Rout After Trump's Shock Tariff Blitz

Equities extended losses in Asia on Friday, extending a global rout inflicted by Donald Trump's tariff blitz that has inflamed a trade war and ramped up recession and inflation fears.

International Business Times

US markets see second day of selloffs as Trump’s tariffs continue to cause global turmoil – as it happened

US indexes suffer amid escalating global trade war as Beijing hits back with new tariffs on US goods

The Guardian - UK

Ancient Rome used high tariffs to raise money too – and created other economic problems along the way

Tariffs are back in the headlines this week, with United States President Donald Trump introducing sweeping new tariffs of at least 10% on a vast range of goods imported to the US. For some countries and goods, the tariffs will be much higher.

The Conversation

Sweeping Trump tariffs shock global economy, drawing threats and calls for talks

Tariff hikes announced by U.S. President Donald Trump have provoked dismay, threats of countermeasures and calls for further negotiations to make trade rules fairer

The Independent UK

Trump’s tariff push is a race against time, and potential voter backlash

President Donald Trump’s expansive new tariff regime reverses a decades-long global trend of lower trade barriers that will likely raise prices for U.S. consumers and threatens to sharply slow the economy this year

The Independent UK

US Trade Policies Ignite a Stock Market Meltdown

The S&P 500 Index ($SPX ) (SPY ) Thursday closed down -4.84%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed down -3.98%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -5.41%. June E-mini S&P futures (ESM25 ) are down -4.86%, and June E-mini Nasdaq futures...

Barchart

Commerce Secretary Ridiculed For Urging Americans To 'Trust Trump' Because He 'Knows What He's Doing': 'He Can't Even Run A Casino'

Howard Lutnick defended Trump amid stock market turmoil, urging Americans to "trust Trump" to handle the economy despite his history of business bankruptcies.

International Business Times

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Latin Times

Commerce Secretary Ridiculed For Urging Americans to 'Trust Trump' Because He 'Knows What He's Doing': 'He Can't Even Run a Casino'

Howard Lutnick defended Trump amid stock market turmoil, urging Americans to "trust Trump" to handle the economy despite his history of business bankruptcies.

The Guardian - US

Trump’s chaos-inducing global tariffs, explained in charts

The US president’s announcement has caused market chaos and threatens a trade war and US recession

Barchart

Dollar Falls Sharply on US Tariffs Concerns

The dollar index (DXY00 ) Thursday fell sharply by -1.64% and posted a 6-month low. The dollar plummeted Thursday because of concerns that President Trump’s sweeping new reciprocal tariffs will start a trade war that will derail the economy and force the Fed to cut interest rates. Also, Thursday’s plunge...

The Independent UK

Trump finally goes all in on tariffs. Free traders on the right and left are furious

ANALYSIS: The immediate anger and fallout from Trump’s tariff plan illustrates how a poor U.S. economy could politically isolate the president, writes John Bowden

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Fortune

Trump’s tariff numbers appear to have been calculated through a simple math formula, which works with every single country on the list

The calculations used by the White House don’t include a detailed assessment of each foreign country's trade practices.

International Business Times

Wall St Leads Rout As World Reels From Trump Tariffs

Wall Street led a global markets bloodbath Thursday as countries around the world reeled from President Donald Trump's trade war, while the White House insisted the US economy would emerge victorious.

Barchart

Crude Prices Plummet on Energy Demand Concerns and Rising OPEC+ Production

May WTI crude oil (CLK25 ) today is down -5.34 (-7.45%), and May RBOB gasoline (RBK25 ) is down +0.1820 (-7.80%). Crude oil and gasoline prices today plunged to 3-week lows on concern that President Trump’s harsher-than-expected reciprocal tariffs will ignite a trade war that derails the global economy and...

Barchart

Stock Sharply Lower on Concern US Trade War Will Upend the Global Economy

The S&P 500 Index ($SPX ) (SPY ) today is down -4.42%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -3.72%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -5.11%. June E-mini S&P futures (ESM25 ) are down -4.10%, and June E-mini Nasdaq futures...

Evening Standard

Firms in Northern Ireland anxious about Trump tariffs, O’Neill says

Deputy First Minister Emma Little-Pengelly said it was important that any retaliatory EU tariffs on the US did not penalise Northern Ireland.

Barchart

Dollar Slumps to a 6-Month Low as US Tariffs Spark Trade War Fears

The dollar index (DXY00 ) today is down sharply by -2.19% at a 6-month low. The dollar is plummeting today because of concerns that President Trump's sweeping new reciprocal tariffs will start a trade war that will derail the economy and force the Fed to cut interest rates. Also, today's...

Metal Hammer

"Our manager gave us each $1000 and put us on the plane, economy class. We later found out we had received $250,000 for the show: he kept it all." The true story behind Black Sabbath's biggest show ever

On April 6, 1974, Black Sabbath performed for 250,000 rock fans at the first California Jam festival. It was a gig that would live long in the memory for all involved, for reasons both good and bad

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