Government considers nationalising British Steel
There are fears among ministers that the company’s blast furnaces could run out of raw materials within days.
Blackstone offers €200mn return guarantee to fund UK railway arch deal
Promise is similar to a controversial enticement to University of California to halt a flood of redemptions
ECB cuts rates for third time this year as Europe braces for Trump tariffs
Quarter-point cut in cost of borrowing aimed at combating slowing eurozone growth and impact of US border taxes
The cost of borrowing fell across the 20-member euro area for the third time this year on Thursday when the European Central Bank cut its main interest rate to 2.25% in response to slowing growth and Donald Trump’s tariffs.
The Frankfurt-based bank cut its benchmark deposit rate by a quarter of a percentage point, in line with City economist expectations, to tackle a slowdown in the bloc and the impact from the border taxes imposed earlier this month on all EU imports into the US.
Trump tariffs spark shock US bond sell-off
The cost of borrowing for the US government rose as confidence in the economy waned
IMF warns of ‘major negative shock’ from Trump’s tariffs
Lender cuts forecasts for every major economy, with UK expected to grow by 1.1% this year, down from 1.6%
Donald Trump’s tariffs have unleashed a “major negative shock” into the world economy, the International Monetary Fund has said, as it cut its forecasts for US, UK and global growth.
In a stark assessment of the impact of the US president’s policies, as global finance ministers prepare to meet in Washington, the IMF said: “We expect that the sharp increase on 2 April in both tariffs and uncertainty will lead to a significant slowdown in global growth in the near term.”