How fast is the UK’s economy growing and what is GDP?
The UK’s economy grew by more than expected at a rate of 0.5% in February, according to the latest official figures. The strength of the economy affects things like pay increases for workers and the amount of tax the government can raise to pay for services. What is GDP and how is it worked out? […]
Japan’s Nikkei jumps over 9% to lead gains in Asia after Trump pauses tariffs
Asia-Pacific markets rose Thursday, following Wall Street’s biggest burst of buying since 2008 after U.S. President Donald Trump announced a 90-day pause on higher tariffs on all nations bar China.Japanese markets led gains in the region. The benchmark Nikkei 225 closed 9.13% higher at 34,609 while the broader Topix index advanced 8.09% to 2,539.40.South Korea’s Kospi index surged 6.60% to […]
UK economy expands by 0.5% in February, more than expected
The U.K. economy grew by a higher-than-expected 0.5% month-on-month in February amid a jump in the services output, official data showed on Friday.Analysts had projected a monthly gross domestic product hike of 0.1% in February, according to LSEG data. The Office for National Statistics, which published the provisional figures, said a 0.3% expansion in the services sector […]
European Union to put countermeasures to U.S. tariffs on hold for 90 days
The European Union will pause the adoption of its retaliatory tariffs on a swathe of U.S. goods for 90 days, European Commission President Ursula von der Leyen said, a day after the White House issued a reprieve on most of its own levies.On Wednesday, EU members voted in favor of the package, which was designed in response […]
Trump’s triple-digit tariff essentially cuts off most trade with China, says economist
President Donald Trump’s tariff increase on imports from China would basically end most trade between that country and the U.S., according to economist Erica York.“It depends on how narrowly the tariff is applied or how broadly it’s applied, but generally if you get north of a triple-digit tariff, you are cutting off most trade,” the vice president […]