Morgan Stanley weighs move to offer crypto trading on ETrade platform
The bank’s deliberations come as President Donald Trump has taken a friendlier line on crypto than his predecessor
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Trump imposes new tariffs on dozens of partners, sparking fresh market turmoil
Rates on imports to US from dozens of countries rise further, with China hit by 104% tariffs
The US and China are heading towards an all-out trade war, as Donald Trump unleashed a new wave of tariffs against dozens of partners that triggered a fresh day of stock market turmoil on Wednesday.
The global economy has been rocked since sweeping 10% US tariffs took effect over the weekend, prompting dramatic market sell-offs worldwide and sparking recession fears.
Consumer spending is up big in early April as people buy in anticipation of tariffs
Spending in April through the first 15 days climbed about 3.8% from the same period a year ago, JPMorgan found.
Starbucks boss plans more baristas and less tech
The move to increase staff numbers comes as the coffee shop giant continues to see sales fall.
HSBC sounds alarm on trade war; Trump to soften blow of automotive tariffs – business live
Rolling coverage of the latest economic and financial news
There are sounds of another handbrake turn from the White House in its trade war.
President Donald Trump is expected to soften the impact of his automotive tariffs, by tweaking them so that duties on foreign-made cars are not stacked on top of other tariffs, such as those on steel and aluminium.
“President Trump is building an important partnership with both the domestic automakers and our great American workers,”
“This deal is a major victory for the President’s trade policy by rewarding companies who manufacture domestically, while providing runway to manufacturers who have expressed their commitment to invest in America and expand their domestic manufacturing.”
Risks for the global economy have been heightened by new trade policies announced by the US and potential measures that may be adopted by several countries globally, including in the markets in which the Group operates.
This uncertainty poses downside risks to economic growth and impacts economic forecasts, financial markets and business and consumer sentiment. A further escalation of tariffs and trade tensions could lead to lower trade volumes, investment, consumer spending and, ultimately, weaker global GDP growth.