Lush and Kwik Fit warn tax rise will push up prices
Cosmetics company Lush and car repair chain Kwik Fit are among firms which have warned they will raise prices due to an increase in employers’ National Insurance (NI). Other firms have told the BBC they will reduce how much profit they make, freeze hiring or in some cases cut jobs to cover the higher costs. […]
Tariffs are yet another example of colossal, upending change
A week ago, Westminster was digesting the chancellor’s Spring Statement and all the talk was of a tightrope walk and precarious public finances. Next, let’s go back nearly two decades to the financial crisis and the historically poor growth and negligible average earnings growth that has afflicted the UK ever since. And then recall the calling card of the […]
Stocks, tariffs and pensions – your questions answered
Markets are reeling from US President Donald Trump’s tariff announcements, but the American leader is standing by his decisions, defending his policies and saying “sometimes you have to take medicine to fix something”. Experts answered some of the questions you sent us as the world tries to make sense of the turmoil and wonders how long it […]
Free childcare in Wales: What help is there for parents?
Parents in England are now entitled to 15 hours a week of free childcare for children from nine months old. The UK government hopes the scheme, which will cover all under-5s by 2025, will get more parents back to work. But the situation is not the same in Wales, because childcare is a devolved issue. Parents […]
How exposed is the UK to Trump’s tariff chaos?
Warnings of a global recession have been intensifying as the trade war heats up. As of Wednesday night, the main animus seems to be between the US and China who are flinging ever-increasing tariffs at each other. For most other nations, Donald Trump has paused implementing higher taxes on US imports for 90 days. It means that […]
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 […]