US stocks end higher after Trump soothes Fed independence worries
Wall Street stages relief rally after president says he has no plans to fire Jay Powell
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Business already are trying to pass tariff cost onto customers, Fed report says
Businesses dealing with tariffs are looking for ways to pass increasing costs onto consumers, according to the Beige Book report.
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.
Rachel Reeves dashes hopes of early breakthrough in UK-US trade deal
Chancellor says UK is ‘not going to rush a deal’ and rejects new US demands on agricultural products
- Markets rise as Trump backtracks on China tariffs and firing Fed chair
- Reeves looks at ending zero tax regime for low-value imports
Rachel Reeves has dashed hopes of an early breakthrough in trade talks with the Trump administration, stressing the UK is “not going to rush” into a deal.
Speaking before her first face-to-face meeting with the US Treasury secretary, Scott Bessent, in which she was expected to lobby him to reduce tariffs, the chancellor said negotiations would take time.
London Metal Exchange plans to introduce green metals premium
Move follows pressure from mining firms to distinguish their supplies from ‘dirty’ minerals with large environmental impact
Oil prices slide as traders brace for extra barrels amid Opec tensions
Brent crude falls by more than 2% as markets weigh possibility of faster production increases