Bank of America, JP Morgan, Goldman Sachs: Wall Street cashes in on market volatility April 15, 2025 Wall Street’s banking giants pocketed record revenues in the first quarter of 2025 as market volatility ramped up. Top lenders were able to smash profit expectations after reaping the rewards of a trading boom caused by President Donald Trump’s erratic tariff agenda. Trump’s bait-and-switch on tariffs triggered countless sell-offs as traders across the globe ditched [...]
Finance bosses predict sharpest hiring drop since 2020 after tariff uncertainty April 14, 2025 Finance bosses expect the sharpest decline in corporate hiring since the third quarter of 2020 as geopolitical risks escalate. A fresh report from Deloitte has showed signs of a waning job market with wage growth expect to slow from 3.6 per cent to three per cent. A net 14 per cent of chief financial officers [...]
Tariffs to take focus as HSBC and Barclays kick off FTSE 100 bank results April 10, 2025 First-quarter results season is around the corner for the UK’s major banks, with HSBC and Barclays set to report at the end of the month. Whilst President Donald Trump launched his tariff onslaught at the beginning of April – narrowly missing the first reporting period of the year – lenders are expected to factor the [...]
EU pauses counter-tariffs after Trump backs down April 10, 2025 President of the European Commission Ursula von der Leyen has said the European Union will pause their reciprocal tariffs against the US, but warned it will hit back if trade negotiations fail. In a post on X, von der Leyen said: “We want to give negotiations a chance… “If negotiations are not satisfactory, our countermeasures [...]
Asos and Boohoo stick to US closures despite Trump tariffs April 8, 2025 Asos is to continue with its plan to close its distribution centre in Georgia, USA, and serve the country from Yorkshire despite the imposition of President Donald Trump’s tariffs. At the start of the year, the fast-fashion group announced plans to close its US base in another effort to boost profitability and streamline operations. The [...]
FTSE 100: Rolls-Royce shares rebound after losing over £10bn in value April 8, 2025 Shares in Rolls-Royce have started to rebound after losing more than £10bn in value since President Donald Trump’s tariffs were announced. The Derby-headquartered group’s shares had been trading at an all-time high of 812p in the middle of March before plummeting to 635p on Monday. They have now started to rebound and are trading at [...]
Lush to pass tariffs onto US shoppers as it sinks further into the red April 8, 2025 Lush has revealed plans to open a UK hotel as it detailed its response to President Donald Trump’s tariffs amid the ethical cosmetics retailer sinking further into the red. The Dorset-headquartered company has included scant detail in its annual accounts about its plans for a new hotel but did say it is working with a [...]
JP Morgan chief issues recession and stagflation warning over Trump tariffs April 7, 2025 JP Morgan chairman and chief executive Jamie Dimon has warned that severe curbs on trade imposed by President Donald Trump could lead the US economy towards recession and stagflation. Dimon made the comments ahead of the multinational investment bank’s financial results, reporting revenue of $180.6bn and net income of $58.5bn in 2024. He credited the [...]
HSBC and Standard Chartered shares sink as ‘outsized’ Asian tariffs bite April 7, 2025 Shares in banking giants HSBC and Standard Chartered have taken a significant hit as the global trade war ramps up. HSBC was down nearly three per cent in early trading on Monday. The lender’s losses in the last five days have now topped 15 per cent. Meanwhile, Standard Chartered plunged nearly four per cent, with [...]
Jaguar Land Rover: Donald Trump’s tariffs threaten US growth April 7, 2025 The scale of the impact of Donald Trump’s tariffs facing Jaguar Land Rover has been revealed as the luxury car maker outlined how many vehicles it exported to the US in the first three months of 2025. The Coventry-headquartered automotive giant saw wholesale volumes in its fourth quarter rise by 14.4 per cent in North [...]