Trump tariffs could wipe out European steel sector, senior industry figure says

ThyssenKrupp executive warns of ‘collateral damage’ to supply chains and urges protective action on energy pricing

Europe’s steel industry faces being wiped out in the face of Donald Trump’s prohibitive 50% tariffs, high energy costs and a mountain of cheaper Chinese steel, one of Germany’s biggest industrial groups has warned.

Ilse Henne, a board member at the steel, engineering and chemicals group ThyssenKrupp, said the industry faced an existential crisis after the US president’s decision last week to double tariffs on steel and aluminium imports from 25% to 50%.

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Will the North Sea oil and gas industry be Labour’s next U-turn?

With Nigel Farage targeting net zero, could government policy change to protect jobs, revenue and votes?

It was inevitable that Nigel Farage would take Reform UK’s campaign tour to Aberdeen. On a visit to the capital of the UK’s oil and gas industry on Monday he welcomed a defecting Aberdeen Conservative councillor, the 13th defection to his party’s ranks in Scotland to date.

Reform is hoping to make political hay from the discontent surrounding the government’s North Sea policies, the demise of the oil and gas basin and the vast workforce that depends on it. The populist party has vowed to reverse the government’s ban on fresh North Sea oil and gas drilling as a “day one” priority if elected to power in 2029.

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Tim Wilson backs working from home as ‘happy workers tend to be more productive’ – as it happened

This blog is now closed.

With the count in the seat of Bradfield finalised, where the difference in the result came down to 26 votes, Paterson says he can’t confirm whether the Coalition will seek to challenge the result.

I understand that the New South Wales Liberal party is reviewing our legal options, and I really hope that we can find a way to have Gisele Kapterian in the parliament, because she’s exactly the type of person to make the Liberal party better and the parliament better. She has great insights and professional experience. She’s a person that I hope to be playing a big role in the future of the party. But it is up to the New South Wales division and ultimately, if we decide to make any application in the court of disputed returns to that.

I’m not going to publicly engage on debate about internal policy about that. I have the opportunity to do so through the shadow cabinet process. But if there is a byelection, I would back Gisele because she’s an outstanding candidate and outstanding Liberal and someone who is placed to make a big contribution to the future of our country inside one of the major parties that will ultimately form government in this country.

That’s not something that an independent can do. And if the independents were relatively inconsequential in the last parliament, they’ll be even less relevant in this one.

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Kenya tells tea factories to cut ties with Rainforest Alliance due to costs

Government says ethical certification is adding financial strain on smallholders rather than being paid by customers

The Kenyan government has told its tea factories to stop working with the Rainforest Alliance because it says the costs involved in securing the ethical label don’t add up for farmers.

The non-profit organisation is one of the world’s most recognisable certification schemes with its green frog seal on food packaging a sign consumers “can feel confident that these products support a better world”.

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UK mortgage guarantee scheme due to end with no news on replacement

More than 53,000 mortgages have been completed using scheme, which encourages lenders to offer up to 95% loans

A government scheme to encourage UK lenders to offer 95% mortgages is scheduled to end this month, with no word yet on when its replacement will be launched.

The mortgage guarantee scheme went live in April 2021 to help buyers with small deposits get on the property ladder.

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Sports Direct pricing practices ‘may be breaking the law’, Which? says

Consumer group makes claims of ‘some questionable and dodgy pricing tactics’ on retailer’s website

Sports Direct could be breaking the law by misleading shoppers into thinking they are getting a good deal, a consumer body has claimed, after it looked at prices of items ranging from trainers to hoodies.

Which? said it had reported the retailer to the Competition and Markets Authority after uncovering what it claimed were “some questionable and dodgy pricing tactics” on its website.

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Donald Trump to meet Xi Jinping in China after ‘very good’ call on trade

US president says he accepted invitation in first phone conversation between leaders since January

Donald Trump said he had accepted an invitation to meet Xi Jinping in China after a phone conversation on trade was held between the leaders of the world’s two largest economies.

In a post on Truth Social, the US president said the “very good” call lasted about 90 minutes and the conversation was “almost entirely focused on trade”.

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Amazon ‘testing humanoid robots to deliver packages’

Tech firm is building ‘humanoid park’ in US to try out robots, which could ‘spring out’ of its vans

Amazon is reportedly developing software for humanoid robots that could perform the role of delivery workers and “spring out” of its vans.

The $2tn technology company is building a “humanoid park” in the US to test the robots, said the tech news site the Information, citing a person who had been involved in the project.

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Trump travel ban to ‘sow division and vilify communities’ – US politics live

President brings in ban for visitors from 12 countries and restricts travel from a further seven

Donald Trump has ordered an investigation into Joe Biden’s actions as president, alleging top aides masked his predecessor’s “cognitive decline”.

The investigation will build on a Republican-led campaign already under way to discredit the former president and overturn some of his executive actions, including pardons and federal rules issued towards the end of his term in office.

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Shein accused of ‘shaming’ customers into buying more than they can afford

Consumer watchdogs accuse Chinese fashion firm of ‘dark’ practices in formal complaint to European Commission

Consumer watchdogs from 21 countries have filed a formal complaint to EU authorities about alleged “dark” practices by the Chinese fast fashion firm Shein including the “shaming” of customers into buying more than they can afford.

The European Consumer Organisation (BEUC) has submitted a 29-page dossier to the European Commission citing multiple examples of “dark patterns”, or deceptive techniques designed to encourage purchases.

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High-rise, high expectations: is Casablanca’s finance hub a model for African development?

Morocco’s commercial centre has brought investment to the continent – but critics say it masks domestic inequality

For centuries, Casablanca was a significant trading hub for merchants from across the breadth of the Atlantic coast, given its geographical position between Africa, the Middle East and Europe.

These days, Morocco’s economic capital is merging those historical roots with a strong modern commercial identity. One such manifestation is the Casablanca Finance City (CFC) district, whose high-rise buildings stand as a symbol of the city’s dream of being a main gateway for international investment into Africa.

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China accuses US of ‘seriously violating’ trade truce

Beijing says it will safeguard its interests after Donald Trump claimed it had ‘totally violated’ agreement

China has accused the US of “seriously violating” the fragile US-China detente that has been in place for less than a month since the two countries agreed to pause the trade war that risked upending the global economy.

China and the US agreed on 12 May to pause for 90 days the skyrocketing “reciprocal” tariffs that both countries had placed on the others goods in a frenzied trade war that started a few weeks earlier. Tariffs had reached 125% on each side, which officials feared amounted to virtual embargo on trade between the world’s two biggest economies.

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Natural disasters cost Australia’s economy $2.2bn in first half of 2025, new Treasury analysis shows

Wild weather, including Cyclone Alfred and floods in NSW and Queensland, significantly slowed retail trade and household spending

Six months of natural disasters in 2025 have cost the economy $2.2bn, largely in slower retail and household spending, according to new federal Treasury analysis.

Wild weather has repeatedly battered the Australian east coast this year.

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UK trade secretary to seek exemption from US steel and aluminium tariffs

Trump announced on Friday night that he planned to double rates on imported steel, piling more pressure on the industry

The UK’s trade secretary, Jonathan Reynolds, will meet his US counterpart next week to thrash out a timeline for exempting the UK from US steel and aluminium tariffs after Donald Trump announced he would double them.

British officials are seeking clarity on the implications of Trump’s announcement on Friday night that he planned to double the tariffs from 25% to 50% from Wedneday 4 June, piling further pressure on global steel trade.

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Sweet dreams: dessert parlours help to revive UK’s high streets

Market thought to be worth more than £500m as diners seek cheaper alternatives to the pub or a meal out

Dessert cafes and ice-cream parlours are hoping to play a role in a revival of UK high streets and the night-time economy, as people seek an alternative to going to the pub or an expensive meal out.

Their number has soared by almost 700 in the UK in the past decade, according to analysts at Green Street, formerly the Local Data Company, with outlets in places from Aberdeen to Plymouth.

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Australia’s trade minister says Trump plan to double steel and aluminium tariffs to 50% ‘not the act of a friend’

Don Farrell says US president’s latest tariffs announcement ‘an act of economic self-harm’ and he will continue to advocate for their removal

Australia’s trade minister, Don Farrell, has described Donald Trump’s trade tariffs as “unjustified and not the act of a friend”, after the US president announced he would double import duties on steel and aluminium to 50%.

Trump told a steelworkers rally in Pittsburgh that raising the tariff would “even further secure the steel industry in the United States. Nobody is going to get around that”.

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Google and Home Depot drop Pride Toronto sponsorship amid Trump’s DEI war

Organizer points to president’s anti-diversity push as companies join Adidas and Clorox in withdrawing support

In another blow to one of the largest celebrations of LGTBQ+ people in North America, Pride Toronto has unexpectedly lost two more major corporate sponsors, just weeks before the festival in a setback the festival’s organizer says is direct result of Donald Trump’s campaign to eradicate diversity, equity and inclusion (DEI) initiatives in the US.

Google and Home Depot both announced their plans to abandon the festival in the form of one-line emails, said Kojo Modeste, the executive director of the Canadian event.

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Government sells final shares in NatWest 17 years after £45bn bailout

Sale ends state ownership of the banking group, then known as Royal Bank of Scotland, after 2008 rescue

The UK has sold its final shares in NatWest Group, ending 17 years of state ownership since the £45bn taxpayer bailout that saved the bank from collapse at the height of the 2008 financial crisis.

The full privatisation of NatWest is a symbolic moment for the banking group – formerly known as Royal Bank of Scotland (RBS) – and draws a line under the most tumultuous chapter in its near 300-year history.

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China has ‘totally violated’ its trade agreement with the US, says Trump

President took to social media to denounce Beijing in the latest development in his ongoing tariff war

Donald Trump declared that China has “totally violated its agreement” against the US on trade just two weeks after the countries reached a deal, raising fears that the trade war will continue to rattle the global economy.

“I made a FAST DEAL with China in order to save them from what I thought was going to be a very bad situation,” Trump wrote on Truth Social on Friday morning. “Everybody was happy! That is the good news!!! The bad news is that China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US.”

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Volkswagen to make ‘massive’ investment in US in bid to avoid tariffs

CEO of Europe’s largest industrial group says he has been in direct talks with Donald Trump’s administration

Volkswagen, Europe’s largest industrial group, has said it will make a “massive” investment in the US. The group, which includes Porsche, revealed it has been in direct talks with Donald Trump’s administration as it faces damaging tariffs.

Oliver Blume, who heads the group, said the talks were “constructive” and “fair”, in an interview that suggests the company, whose market capital is £44bn, is not willing to leave tariff negotiations to Brussels alone.

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