Chinese economy weakens as consumer spending and factory output slows
Economists split on need for new Beijing stimulus amid headwinds from Trump tariffs and crisis-hit property sector Business live – latest updates China’s economy showed further signs of weakness last month, with important data revealing factory output and consumption rising at their weakest pace for about a year. The disappointing data adds pressure on Beijing…
Chinese carmakers told to improve locking devices for UK market
UK insurers require critical modifications for sale in country with higher levels of car theft than China British authorities may have certain concerns about the cyber-spying threat from vehicles made in China, but it turns out the country’s manufacturers have security worries of their own. Insurers have told Chinese carmakers they need critical modifications for…
Supreme Court agrees to hear challenge to some of Trump’s sweeping tariffs
Nina Totenberg The Supreme Court said Tuesday it will review the legality of the sprawling tariffs President Trump imposed in an April executive order, a day the president declared “liberation day.” Since then the government estimates it has collected nearly a trillion dollars in tariffs from U.S. and foreign businesses that would have to be…
Hopes rise for green economy boom at Africa Climate Summit
Renewables are thriving, with Africa breaking solar energy records – but action is needed to plug financing gap The first signs of a takeoff of Africa’s green economy are raising hopes that a transformation of the continent’s fortunes may be under way, driven by solar power and an increase in low-carbon investment. African leaders are…
New business secretary Peter Kyle going to China for trade talks this week
Former science secretary promoted in reshuffle to continue UK efforts to revitalise trade relationship with Beijing The UK’s new business secretary, Peter Kyle, will fly to Beijing this week as part of Keir Starmer’s continuing efforts to revitalise the UK’s trade relationship with China and provide growth to the British economy. Kyle was due to…
South Korean President Lee to meet with Trump in Washington on Monday
Anthony Kuhn SEOUL, South Korea — En route to his first summit with President Trump, South Korea’s president has pushed back against U.S. pressure to refocus his country’s 71-year-old military alliance with the U.S. away from deterring North Korea and toward countering China. “This is not an issue we can easily agree with,” Lee Jae-myung…
Boxed in by shifting tariff rules, European shippers pause some U.S.-bound parcels
Camila Domonoske Many European parcel companies — including DHL, the Royal Mail, and the French and Spanish national post offices — are temporarily suspending some shipments to the U.S., citing new U.S. tariff policies that kick in this week. And while the financial costs of tariffs have dominated trade news this summer, in this case,…
Fed Chair Jerome Powell signals possible rate cut, sending stocks sharply higher
Scott Horsley Federal Reserve Chairman Jerome Powell signaled a possible cut in interest rates in the near future, sending stocks soaring on Friday. Speaking to a gathering of economists and central bankers in Jackson Hole, Wyo., Powell said current economic conditions, including a marked slowdown in job growth, suggest a downward adjustment in the Fed’s…
Businesses face ‘chaos’ as EPA aims to repeal its authority over climate pollution
By Michael Copley The Trump administration’s plan to undo a landmark finding that climate pollution threatens public health and welfare poses lots of risks for corporate America. The Environmental Protection Agency’s endangerment finding has served as the legal basis for federal climate regulations under the Clean Air Act since 2009. The finding concludes that the…