UK economy shrinks by most in nearly two years after record drop in exports to US from tariffs
LONDON – Britain’s economic output contracted sharply in April, when shockwaves from US President Donald Trump’s announcement of wide-ranging tariffs hit the global economy, data from the Office for National Statistics (ONS) showed on June 12.
Gross domestic output shrank by a worse than expected 0.3 per cent in April from March – the biggest monthly drop since October 2023 and a much bigger drop than the 0.1 per cent fall forecast in a Reuters poll.
Read MoreUK economy contracts – with record fall in exports to the US after Trump tariff hikes
The UK economy shrank more than expected in April as the worst of President Trump’s tariffs hit.
The standard measure of economic output (GDP) contracted a sharp 0.3% in April, data from the Office for National Statistics (ONS) showed.
During the month, Mr Trump’s so-called “Liberation Day” applied steep tariffs to countries around the world and sparked a trade war with China,
Read MoreWall Street was underwhelmed by Apple's big day
Apple’s stock price has been bleeding this year, and it looks unlikely that the company’s big “Liquid Glass” design overhaul will be anything more than a Band-Aid.
Wall Street was largely unimpressed by the announcements at Apple’s Worldwide Developers Conference on Monday, where the company showed off its glass-like software design coming this fall to Apple’s gadget lineup.
» Read more about: Wall Street was underwhelmed by Apple's big day »
Read MoreIf I Could Invest $1,000 in Any Growth Stock, It Would Be This One
This year has been rocky for the U.S. stock market. Between the Trump administration’s tariff plans (and subsequent backtracks), recession fears, and overall uncertainty, the stock market has been more volatile than usual.
Due to the uncertainty, investors have been heading toward value and dividend stocks, shifting away from the growth stocks that have been so popular in recent years.
» Read more about: If I Could Invest $1,000 in Any Growth Stock, It Would Be This One »
Read MoreHow banks are muddying the waters for savers as interest rates fall
After BOQ’s Virgin Money failed to pass on the RBA’s rate cut to borrowers, Allaway faced questions at his front door from a reporter on A Current Affair, broadcast by this masthead’s owner, Nine.
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Withholding RBA rate cuts on home loans can also be bad for business.
» Read more about: How banks are muddying the waters for savers as interest rates fall »
Read MoreThe Burst
Get $50,000 Per Year From $3,000 Annual Investment?
Most people think of index funds as boring but that’s because the majority don’t have a good understanding of how these funds actually work. To simplify it, consider the following analogy.
Imagine you’re betting at a horse race but you don’t know which horse will win so you’re permitted to bet on all the horses and whoever wins you win.
» Read more about: Get $50,000 Per Year From $3,000 Annual Investment? »
Read MoreThe Ivy
Is Crowdstrike a Risky Buy or a Golden Opportunity?
Crowdstrike at this moment in time is the epitome of what makes investing challenging. The blackout experienced around the world due to an error in code left the reputation of the cybersecurity firm in tatters.
The company now faces two major hurdles to win back customer confidence. First, it has to win back the confidence of its clients and secondly it has to resolve the liabilities that may follow the global outage.
» Read more about: Is Crowdstrike a Risky Buy or a Golden Opportunity? »
Read MoreThe Spotlight
Is Buffett Going All in on His Favorite Stock?
In 2022, Warren Buffett has been all over the headlines. Whether it’s Apple, Occidental Petroleum, or Chevron, the Oracle of Omaha has added millions of shares to his portfolio, which is now worth over $300 billion.
This year’s bear market decline has allowed Buffett to buy shares at a significant discount,
» Read more about: Is Buffett Going All in on His Favorite Stock? »