China hits back hard at ‘bullying’ Trump tariffs as global recession fears grow | Trump tariffs

China has hit back hard against Donald Trump’s “bullying” tariffs, raising fears that the escalating trade war could trigger a global recession and prompting fresh turmoil in financial markets. Beijing retaliated on Friday with punitive 34% additional tariffs on all goods imported from the US – mirroring the US decision and exacerbating a sell-off on … Read more

Prince Andrew wrote birthday letters to Xi Jinping, ex-adviser told court | Prince Andrew

The alleged Chinese spy Yang Tengbo gave advice on drafting private letters from the Duke of York to China’s president, Xi Jinping, a former senior adviser to Prince Andrew told a special immigration tribunal. Dominic Hampshire, who worked for Andrew from 2019-22, said Andrew had “always had a communication channel” with Xi which was “accepted” … Read more

Trump’s tariffs will likely mean ‘higher inflation and slower growth’, says Fed chair | Trump tariffs

Donald Trump’s global tariffs assault is set to raise prices and slow down economic growth, Federal Reserve chair Jerome Powell has warned, defying the US president’s demands for an immediate interest rate cut. While the US economy remains robust, Powell cautioned that there is high uncertainty over its direction. “Downside risks have risen,” he told … Read more

‘In economic terms, Trump’s tariffs make no sense at all’ | Stock markets

From world leaders, to the tiniest manufacturers thousands of miles away from Washington, decision-makers across the global economy are racked with uncertainty this weekend, as they scramble to come to terms with Donald Trump’s historic tariffs. Experts are all but unanimous that the impact of Wednesday’s extraordinary Rose Garden press conference on global growth will … Read more

Emails reveal extent of peer’s role in asking minister to commercial event in parliament | House of Lords

New documents reveal the extent of a Labour peer’s involvement in organising the attendance of a minister at a commercial event in parliament. Emails show how David Evans contacted officials working closely with Sharon Taylor, a housing minister in the House of Lords, who was to be the keynote speaker at an event on housing … Read more

Trump insists he won’t back down from global trade war as markets slump | Trump tariffs

Donald Trump doubled down on his decision to launch a global trade war, declaring that he would “never” back off from sweeping tariffs on US trading partners. The US president’s announced action sent shock waves around the world this week, prompting fierce threats of retaliation and sharp sell-offs in stock markets. In an all-caps message … Read more