China and US announce 90-day pause on tariffs May 12, 2025 China and the US have watered down tit-for-tat tariffs in a landmark 90-day pause that represents a de-escalation of their ongoing trade war. Both countries had imposed tariffs of over 100 per cent on one another in the fallout to President Trump’s ‘Liberation Day’ at the beginning of April, causing the UN to suggest that [...]
Volatility boosts IG Group after Freetrade deal completes May 12, 2025 IG Group has upgraded its profit guidance for the financial year after increased trading from high market volatility around global trade uncertainty boosted its revenue. “Elevated volatility across a range of asset classes, particularly in April, has resulted in higher levels of client trading activity than expected in typical market conditions,” the firm said in [...]
UK trading partners: China returns to top 10 as EU trade slumps May 12, 2025 China has returned to become a top 10 UK trading partner for the first time since 2022 after a slump in trade activity with the European Union. China is now the eighth largest trading partner for the UK, after countries like Ireland and Italy have declined significantly in popularity, data from Santander’s latest Trade Barometer [...]
This is why the UK’s tech tax still riles Washington May 9, 2025 The UK and US have trumped a new trade framework aimed at unlocking growth between the two allies, but one key irritant remains notably unresolved: Britain’s tech tax or Digital Services Tax (DST). The two per cent levy, introduced in 2020 under Boris Johnson, continues to rankle American officials, particularly because it disproportionately affects the [...]
US-UK deal is free trade in name only May 8, 2025 The newly announced UK-US trade agreement under Trump is a modest, tactical rollback of recent protectionist measures rather than a true free trade deal, aimed more at political optics than economic transformation, says Eliot Wilson Donald Trump advertised last week’s trade agreement between the United States and the United Kingdom as “full and comprehensive”, a [...]
Aston Martin shares rally on UK and US trade deal May 8, 2025 Shares in Aston Martin surged on Thursday ahead of President Donald Trump announcing a trade deal with the UK. The FTSE 250 stock was up ten per cent in the early afternoon, after reports that US car tariffs on the UK would ease. Trump’s 25 per cent levy on all steel and car imports dealt [...]
Keir Starmer strikes ‘historic’ deal with US in bid to swerve tariffs May 8, 2025 Keir Starmer has unveiled a new deal between the US and the UK, making Britain America’s first major trading partner to partially swerve the looming threat of tariffs. US president Donald Trump last month unveiled sweeping tariffs on major economies across the world, including a 10 per cent tariff on goods imports from the UK [...]
Sir Martin Sorrell: Clients ‘cautious’ as S4 Capital’s income tumbles May 8, 2025 S4 Capital, Sir Martin Sorrell’s advertising giant, recorded a sharp drop in revenue in its first-quarter trading update as geopolitical tensions weighed. The firm posted a 11.4 per cent slump in net revenue to £148.3m, which it said reflected the “continuing technology client caution” and headwinds from one “key client”. Takings from marketing services reduced [...]
Rathbones: Fee income dips amid market turmoil May 8, 2025 Turmoil in the market following the introduction of Trump’s tariffs dented the performance of Rathbones Group’s funds, leading income from its wealth management fees to drop three per cent in the first quarter of 2025. Assets under management at the group dipped by five per cent by the end of March due to a combination [...]
FTSE 100’s record run ends as pharma stocks slide on new Trump appointment May 7, 2025 The FTSE 100’s record run came to an end on Wednesday as pharma stocks slumped on the back of a controversial US regulatory appointment. The blue-chip index spent the entire session in the red and closed off 0.4 per cent. Drugmakers GSK and Astrazeneca were among the top fallers, at nearly five per cent and [...]