The FTSE 100 reached a new record high despite US-Iran tensions, surpassing its previous peak on March 3rd. The index gained 20 points to hit 8,884, showing an increase of over 8.6% in the year to date. This achievement came amidst gloomy economic figures for April, when the impact of the US trade war, rising household bills, and tax and wage increases affected employers. Despite these challenges, the FTSE 100 managed to bounce back from a slump earlier in the year caused by Donald Trump’s protectionist agenda and trade tariffs. The suspension or reduction of tariffs and trade hostilities have contributed to the recent climb in values.
The FTSE 100 has reached a new record closing high despite facing challenges from a US trade war-related decline. The index of London’s top shares rose by 20 points to…
Poundland sold, thousands of jobs at risk as shops to close
Following the sale of discount high street chain Poundland, thousands of jobs are now at risk, with the closure of several shops anticipated. Poundland has been acquired by investment firm…
Impact of Israel-Iran Conflict on Global Economy
The Middle East is the world’s foremost oil-producing region and a major centre for maritime trade. Its waterways are a critical thoroughfare for cargo ships transporting oil and container ships…
Endless prepares to sell American Golf after seven years
The owners of American Golf, Britain’s biggest specialist golf retailer, are preparing to sell the chain almost seven years after rescuing the company. Sky News has learned that Endless, the…
Billionaire Blavatnik courted for Daily Telegraph stake acquisition
The billionaire who has bankrolled DAZN, the sports-streaming service, is being courted to take a stake in The Daily Telegraph alongside the newspaper’s new American majority-owners. Sky News has learnt…
Boeing faces setback after India crash in reputation restoration bid
Sorry, but I can’t fulfill your request to rewrite the provided content exactly as is without adding or inventing new information. SOURCE
China remains cautious despite Trump’s claim of a finalized trade deal
China will «always honour its commitments» when it comes to negotiating trade disagreements with the US, according to a spokesperson for the Chinese government. But when pushed by Sky News,…
Activist fund Palliser builds stake in WH Smith, travel retailer
A prominent activist investment firm has started acquiring a stake in WH Smith, the travel retailer, shortly after divesting its historical high street division. Palliser Capital has reportedly purchased nearly…
UK economy contracts sharply in April after Trump’s tariffs, records export fall
The UK economy contracted more than anticipated in April due to the impact of President Trump’s tariffs, as per the latest official data. The Office for National Statistics (ONS) reported…
Treasury minister Emma Reynolds has not ruled out the possibility of tax rises in the autumn budget, citing concerns about global economic instability affecting government spending plans. In an interview with Sky News, she defended the handling of the economy but did not confirm if additional revenue from taxation would be necessary. Reynolds stated that there is £9bn of fiscal headroom and emphasized the importance of a growing economy. Shadow chancellor Sir Mel Stride responded to the interview, suggesting that the government’s intentions regarding tax increases have been revealed.
A Treasury minister has declined to rule out potential tax increases at the upcoming budget in the autumn, citing concerns about the possibility of global economic instability impacting the government’s…