Global News Post Fastest Global News Portal
Related Articles
Trump: I’m recommending a 50% tariff at the EU
Newsflash: Donald Trump has simply introduced he’s recommending a 50% tariff on items from the Europen Union, from the beginning of subsequent month.
Ratcheting up the industry battle, Trump has claimed in a Truth Social submit that the EU has been ‘very difficult’ to care for, and that the present US industry in items deficit is “totally unacceptable”.
Trump additionally claims that the EU used to be set as much as make the most of america on industry.
He says:
The European Union, which used to be shaped for the main objective of profiting from the United States on TRADE, has been very tough to care for.
Their robust Trade Barriers, Vat Taxes, ridiculous Corporate Penalties, Non-Monetary Trade Barriers, Monetary Manipulations, unfair and unjustified proceedings in opposition to Americans Companies, and extra, have resulted in a Trade Deficit with the U.S. of greater than $250,000,000 a 12 months, a bunch which is completely unacceptable. Our discussions with them are going nowhere!
Therefore, I’m recommending a instantly 50% Tariff at the European Union, beginning on June 1, 2025. There isn’t any Tariff if the product is constructed or manufactured within the United States. Thank you to your consideration to this topic!
Key occasions
Analyst: Trump triggers new plunge in equities
Donald Trump’s two-pronged assault at the European Union, and on Apple, has impulsively destroyed hopes that the industry battle used to be cooling.
There’s been a duration of calm within the final couple of weeks, after america and China agreed a 90-day pause and the removing of lots of the price lists imposed on every different right through April.
The danger of 25% price lists on iPhones made out of the country, and 50% on imports from the EU into America, has introduced an finish to the peace.
Fawad Razaqzada, marketplace analyst at City Index and FOREX.com, says “all the optimism over trade deals [has been] wiped out in minutes – seconds, even”, explaining:
US index futures and Apple stocks tumbled in premarket as Trump warned the corporate of 25% price lists if production of iPhones isn’t moved to the United States.
He then prompted an excellent larger after recommending 50% price lists on EU beginning June 1. The German DAX dropped over 500 issues and an identical strikes had been observed in US index futures
Markets fall after Trump threatens 50% tariff on EU imports
European inventory markets are sliding after Donald Trump threatened the EU with a 50% tariff on its items from the beginning of June (see earlier submit).
Germany’s DAX has fallen by means of 1.9% as buyers digest Trump’s announcement, whilst Italy’s FTSE MIB has misplaced 2%.
The Stoxx 600 Banks Index, which tracks financial institution stocks in Europe, is down 1.7%.
In London, the FTSE 100 index of blue chip stocks has now dropped by means of 101 issues, or 1.1%, as industry battle fears sweep the City once more. Bank shares are some of the giant fallers.
Trump: I’m recommending a 50% tariff at the EU
Newsflash: Donald Trump has simply introduced he’s recommending a 50% tariff on items from the Europen Union, from the beginning of subsequent month.
Ratcheting up the industry battle, Trump has claimed in a Truth Social submit that the EU has been ‘very difficult’ to care for, and that the present US industry in items deficit is “totally unacceptable”.
Trump additionally claims that the EU used to be set as much as make the most of america on industry.
He says:
The European Union, which used to be shaped for the main objective of profiting from the United States on TRADE, has been very tough to care for.
Their robust Trade Barriers, Vat Taxes, ridiculous Corporate Penalties, Non-Monetary Trade Barriers, Monetary Manipulations, unfair and unjustified proceedings in opposition to Americans Companies, and extra, have resulted in a Trade Deficit with the U.S. of greater than $250,000,000 a 12 months, a bunch which is completely unacceptable. Our discussions with them are going nowhere!
Therefore, I’m recommending a instantly 50% Tariff at the European Union, beginning on June 1, 2025. There isn’t any Tariff if the product is constructed or manufactured within the United States. Thank you to your consideration to this topic!
Apple stocks drop in pre-market
Apple stocks are falling in pre-market buying and selling after Donald Trump threatened the corporate with new price lists except it shifts iPhone manufacturing to america.
They’re lately heading in the right direction to fall by means of round 3% when buying and selling starts on Wall Street, in beneath two hour’s time.
BREAKING: Apple inventory, $AAPL, falls -4% as President Trump says iPhones will have to be in-built america or they are going to face a tariff of a minimum of 25%. pic.twitter.com/anyxsdNxjx
— The Kobeissi Letter (@KobeissiLetter) May 23, 2025
Trump threatens Apple with 25% price lists if iPhones no longer made in US
Newsflash: Donald Trump has fired every other shot at Apple in his industry wars, caution that the tech large will have to pay a 25% tariff except it manufactures its iPhones in america.
Posting on his Truth Social web site, Trump says:
“I’ve way back knowledgeable Tim Cook of Apple that I be expecting their iPhone’s that will likely be bought within the United States of America will likely be manufactured and constructed within the United States, no longer India, or any place else.
“If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S. Thank your for your attention to this matter!”
This is america president’s newest try to power Apple to transport production to america; final week, Trump mentioned he had a “little problem” with Apple’s Tim Cook, after studies that the corporate is making plans to modify meeting of handsets for america marketplace from China to India.
Sky News: Two-way race to shop for Poundland
The combat to take regulate of UK cut price chain Poundland has taken a twist.
Sky News are reporting that Poundland’s proprietor, Pepco Group, has shortlisted two rival companies to shop for Poundland, which wishes a capital injection of greater than £50m to help a turnaround plan.
A Pepco insider mentioned on Friday that Hilco, the previous proprietor of HMV and Homebase, and previous Laura Ashley-owner Gordon Brothers had been serious about a two-way race to shop for the chain.
That implies that Modella Capital, the funding company which has agreed to shop for WH Smith’s top boulevard operations, has been eradicated from the public sale.
Yesterday, Pepco reduce its benefit steerage for Poundland, because of “highly challenging trading conditions, which have been further impacted by clearance of old stock and product availability issues”.
UK non-public sector productiveness drops under pre-Covid ranges
Worryingly, productiveness in the United Kingdom non-public sector has dropped under its ranges earlier than the Covid-19 pandemic.
New information from the Office for National Statistics this morning displays that multi-factor productiveness – a measure of ways successfully assets are used within the financial system – fell by means of 0.6% in 2024 and used to be 0.7% less than in 2019.
That, the ONS issues out, is relatively worse than the rage expansion in MFP of round 1.8% according to 12 months within the decade earlier than the 2008 financial downturn.
The record displays that marketplace sector gross price added (GVA) handiest higher by means of 1.3% in 2024, whilst hours labored rose by means of 1.8%.
Pound hits $1.35
Back within the monetary markets, the pound has hit $1.35 in opposition to america greenback for the primary time since February 2022.
As flagged at 9.52am, the pound is taking advantage of some optimism about the United Kingdom financial outlook, and worries about inflation, whilst the greenback is being dragged down by means of considerations that buyers are shedding religion in US govt debt.
PwC: Energy worth cap may upward push later within the 12 months
The UK power worth cap may upward push once more later this 12 months, warns Benjamin Gough, Infrastructure & Regulatory Economics Leader at PwC UK.
Gough says:
“Today’s announcement by means of Ofgem of a discount within the power worth cap is excellent news for home shoppers, who will see an annual relief in power spend of £129 in comparison to the prevailing cap.
The determination follows a decline in UK herbal fuel futures, from a two-year top of 141 p/th in February, with the downward pattern pushed partially by means of the United Kingdom experiencing a hotter begin to spring and extending volumes of LNG provide in Europe. Gas futures do stay upper than 2024 lately, leaving an opportunity that the cap may nonetheless upward push later within the 12 months.
That would obviously be dangerous information for poorer families, particularly as power utilization rises within the iciness because the chilly climate bites.
Cornwall Insight have predicted that the cap may upward push to £1,727 according to 12 months, for a regular invoice, in October-December, so handiest relatively upper than the £1,720/12 months set for July-September this morning.
[reminder: the cap applies to the cost of a unit of energy, not the total bill].
Independent Age, a charity offering fortify for older folks dealing with monetary hardship, has warned that too many of us in later lifestyles dwelling in monetary hardship received’t be capable to warmth their properties, in spite of the drop in the cost cap in July.
Independent Age leader govt Joanna Elson, CBE welcomed Keir Starmer’s u-turn on iciness gas bills, pronouncing:
“The UK Government will have to use the hotter months to organize for subsequent iciness. Older folks on low earning will have to be supported in order that they find the money for to show the heating on. We welcome plans introduced this week to widen the eligibility standards for the Winter Fuel Payment, linking it to Pension Credit noticed a ways too many of us in monetary hardship leave out out.
We heard dreadful accounts of folks going to mattress in hats and coats, restricting themselves to only one meal an afternoon to save cash, and having to seek advice from public puts to stick heat. We urge the United Kingdom Government to behave temporarily and supply readability on who will likely be eligible for the following charge. Nobody will have to be left within the chilly subsequent iciness.
In the long-term, the United Kingdom Government will have to enforce insurance policies that carry older folks out of gas poverty and make sure monetary safety. The UK Government will have to prolong the Warm Home Discount past 2026, building up bills above the existing £150 degree, and introduce an power social tariff.
Here’s a chart appearing how UK power expenses will dip this summer season, however stay relatively upper than 3 years in the past…
Pound hits three-year top vs US greenback
The pound has hit a brand new three-year top in opposition to america greenback this morning.
Sterling is up round three-quarters of a cent to $1.3488, its best degree since February 2022.
The rally in part displays aid that UK retail gross sales volumes jumped by means of 1.2% in April (see earlier post), suggesting shoppers are proceeding to spend.
George Vessey, lead FX and macro strategist at Convera, says there are a number of certain elements supporting sterling.
Vessey cites:
Closer industry members of the family with each america and EU, a string of certain UK financial information surprises and sticky inflation prompting a much less dovish Bank of England (BoE) outlook and the de-dollarisation narrative.
The choices marketplace has grew to become increasingly positive at the pound’s long-term outlook and hedge price range stay bullish, ceaselessly expanding their lengthy positions since January. This emerging call for for sterling suggests additional upside doable, particularly if asset managers shift to obese positions within the coming months.
The different aspect of the industry is that the greenback is falling, amid considerations that buyers are transferring clear of Us property because of considerations over Donald Trump’s insurance policies.
That has resulted in a sell-off in Treasury bonds this week, pushing up the rate of interest on US debt.
Those worries fastened this week after america House of Representatives licensed a big invoice that will enact Donald Trump’s tax and spending priorities and upload trillions of bucks to america debt (already $36trn and emerging).
Sun brings largest bounce in British retail gross sales in 4 years
Mark Sweney
Sunny spring climate despatched consumers flocking to supermarkets and consultants similar to butchers, bakers and alcohol shops final month, fuelling the most powerful quarterly building up in retail gross sales in Great Britain in nearly 4 years.
Retail gross sales volumes soared 1.2% in April, smartly forward of City economists’ forecasts of an building up of between 0.2% and 0.4%, marking the fourth instantly month of gross sales expansion.
The Office for National Statistics (ONS) mentioned that over the 3 months to the tip of April gross sales rose by means of 1.8%, when put next with the November to January duration, the most important quarterly upward push since July 2021.
Martin Lewis: The Price Cap remains to be a Pants Cap
Martin Lewis, founding father of MoneySavingExpert.com, has warned that the 7% reduce in Britain’s power worth cap is “nothing to shout home about”.
Lewis, a standard critic of the cost cap, issues out that power expenses this July will nonetheless be 10% upper than on the identical time final 12 months.
He provides:
Compare that to the most cost effective fixes available on the market as of late, which might be 18% under the present Cap, proving the Price Cap is a Pants Cap. It used to be handiest ever supposed to be a back-stop tariff for the ones not able to modify, but right through the power disaster it successfully was a regulated worth, and nonetheless as of late, 65% of houses are on price lists dictated by means of the Cap.
For all however the ones on pre-payment meters, the place unfortunately there’s little selection, I’d urge folks to get off the Cap, use a whole-of-market comparability website, like www.CheapEnergyClub.com to seek out their most cost-effective repair. That will immediately reduce folks’s expenses, with none wish to wait till July, and if analysts’ present Price Cap predictions turn out true, would considerably undercut the Cap in each and every duration for the following 12 months.
Our contemporary research displays, that at each and every level over the past one year, grabbing the most cost effective repair available on the market would’ve stored you very considerably over the Price Cap.
Lewis additionally argues it’s fallacious for Ofgem to mention that as of late’s relief is a drop of £129 a 12 months. He explains:
That’s no longer right kind. The new Price Cap handiest lasts 3 months, so quoting an annualised worth is incomprehensible, by no means thoughts an annualised worth according to standard use.
Miliband welcomes reduce to power worth cap
Back within the power international, Ed Miliband has welcomed the 7% reduce to family expenses from July introduced this morning.
However, the power secretary additionally wired that the Government will proceed to paintings in opposition to blank power to get off the “rollercoaster of fossil fuel markets”.
Miliband says:
“This fall in power expenses is welcome information for households around the nation and can imply that operating folks stay extra in their cash within the coming months.
However, we all know that it is just thru our venture for blank, homegrown energy that we will be able to get off the rollercoaster of fossil gas markets managed by means of dictators and petrostates – and provides households and companies power safety and convey down expenses for just right.
As we take again regulate, we’re doing the whole lot we will be able to to fortify folks – from consulting on increasing the £150 heat house cut price to round six million families subsequent iciness, to upgrading 1000’s of houses so they’re hotter and price much less to warmth, to reforming our power marketplace so shoppers are higher secure.”
Telegraph to be bought to RedBird Capital in £500m deal
The long term of the Telegraph newspaper seems to in the end were resolved.
The Telegraph is to be bought to a transatlantic consortium led by means of RedBird Capital Partners, the paper is reporting this morning, beneath a initial deal.
Gerry Cardinale, the founding father of america non-public fairness company, has reportedly signed an settlement in concept to procure regulate of The Telegraph for £500m.
The Telegraph is being purchased from RedBird IMI, an funding car majority subsidized by means of the United Arab Emirates, who had been blocked from taking complete possession of the crowd final 12 months.
But this will not be the tip of the tale, because the Telegraph’s Chris Williams studies:
No ultimate agreements are in position, then again.
A rival is making an attempt to disrupt the sale too, and regulatory hurdles anticipate.
Williams provides that Cardinale plans to focus on “an intelligent centre-Right readership which is not currently well-served”….
International Paper to near 5 websites in UK, striking 300 jobs in peril
Hundreds of packaging jobs are in peril at UK packaging company DS Smith, following its takeover by means of rival International Paper previous this 12 months.
International Paper has introduced this morning it’s proposing to near 5 of its packaging websites in the United Kingdom. It may be taking into consideration relocating one website, and a “small headcount reduction” at two different websites.
International Paper says the plan will “improve efficiencies” and to answer buyer wishes amid “tough trading conditions for the industry”. It is consulting with unions and staff.
International Paper, which took over DS Smith in a £5.8bn deal in January, expects the proposals can be applied by means of the tip of this calendar 12 months and that roughly 300 roles could also be affected.
