logo

World Business Report Trade Talks: US and China meet in London

BBC News2 days ago

With trade tariffs slowing growth in China, the US wants to talk about rare earth minerals.
We'll have the latest on trade negotiations in London. And there's plenty of food on the programme as we meet meat producers in Spain worried about US tariffs.
We'll also hear how the cost of butter is soaring in New Zealand, even though much of it is made there.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Business Matters  Disney and Universal sue AI company Midjourney
Business Matters  Disney and Universal sue AI company Midjourney

BBC News

time27 minutes ago

  • BBC News

Business Matters Disney and Universal sue AI company Midjourney

Disney and Universal are suing AI photo generation company Midjourney alleging its popular image generator had become a "bottomless pit of plagiarism". Rahul Tandon finds out how likely the lawsuit is to be successful. Also, can we expect peace between the US and China in their crucial trade war as both sides say they have agreed on a "framework" for a deal? We find out why the new LinkedIn data reveals that the rate of women being hired into leadership has dropped for the third year in a row. And we hear how tensions between President Donald Trump and Elon Musk might be affecting investors. You can contact us on WhatsApp or send us a voicenote: +44 330 678 3033.

Live Economy shrinks in blow for Reeves
Live Economy shrinks in blow for Reeves

Telegraph

time44 minutes ago

  • Telegraph

Live Economy shrinks in blow for Reeves

Britain's economy shrank at the start of the second quarter, official figures show, in a blow for the Chancellor after her spending review. UK gross domestic product (GDP) contracted by 0.3pc during the month, according to the Office for National Statistics (ONS). This was worse than analysts' fears that the economy would shrink by 0.1pc and follows a 0.7pc expansion during the first three months of the year. The data covers the month when Donald Trump launched his so-called 'liberation day' tariff onslaught which threatened to upend global trade. ONS director of economic statistics Liz McKeown said: 'After increasing for each of the four preceding months, April saw the largest monthly fall on record in goods exports to the United States with decreases seen across most types of goods, following the recent introduction of tariffs.' The figures come a day after economists warned that Britain faces tax rises in the autumn after Rachel Reeves unveiled her spending review. The Chancellor has made growing the economy one of her key missions as she battles to shore up the public finances. An expanding economy would mean that she is better able to pay off the nation's debt and would improve living standards. Ms Reeves said: 'Our number one mission is delivering growth to put more money in people's pockets through our Plan for Change, and while these numbers are clearly disappointing, I'm determined to deliver on that mission.'

UK economy shrinks by 0.3% in April, ONS says
UK economy shrinks by 0.3% in April, ONS says

Reuters

timean hour ago

  • Reuters

UK economy shrinks by 0.3% in April, ONS says

LONDON, June 12 (Reuters) - Britain's economic output contracted by a worse-than-expected 0.3% in April, when shockwaves from U.S. President Donald Trump's announcement of wide-ranging tariffs hit the global economy, official data showed on Thursday. A Reuters poll of economists had forecast that Britain's gross domestic product would fall by 0.1% in April compared with March's level. Britain's economy expanded by 0.7% in the first quarter of 2025, outstripping growth in other countries in the Group of Seven advanced economies and prompting the Bank of England to revise up its full-year growth forecast to 1% last month. However, the BoE revised down its growth forecast for 2026 to 1.25% and said it expected the tariffs to knock 0.3% off British output in three years' time. BoE policymakers who are expected to hold interest rates next week are faced with competing forces of stubborn inflation and a relatively sluggish economy. A closely-watched business survey earlier this month suggested much of the economy returned to tepid growth. Business surveys of British firms have generally been downbeat and shown firms slowed their hiring and investment plans due to big increases in labour costs announced by finance minister Rachel Reeves last October. Data published this week showed a fall in consumer spending in May.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store