Editor Brian Harrod Provides Comprehensive up-to-date news coverage, with aggregated news from sources all over the world from the Roundup Newswires Network
Foreign powers have no right to interfere in ‘internal affair’, says Zhang Jun, as Beijing also calls for trade compromise
China has said it will not allow the G20 nations to discuss the Hong Kong issue at its summit this week, assistant foreign minister Zhang Jun said on Monday.
Millions of people demonstrated on the streets of the city this month against a bill that would allow people to be extradited to the mainland to face trial in courts controlled by the Communist party.
Russell Vought makes request in letter to Pence and Congress
Mnuchin: trade progress with China could ease Huawei actions
The Trump administration’s acting budget chief is asking for a delay in restrictions against Huawei products, according to a letter to Vice-President Mike Pence and nine members of Congress.
French government blamed as €33bn deal to create world’s third largest carmaker stalls
The proposed €33bn merger of Fiat Chrysler and Renault has collapsed after an intervention from the French government, Renault’s biggest shareholder.
Fiat Chrysler, an Italian-American company, withdrew from a 50-50 merger proposal for its French rival after a board meeting on Wednesday. A deal would have created the world’s third-largest carmaker behind Volkswagen and Toyota.
Christine Lagarde says world must avoid the ‘self-inflicted wounds’ of a tit-for-tat wrangle
The International Monetary Fund has called for a speedy end to the deepening trade war between the United States and China after calculating that the tit-for-tat tariffs will cost $455bn (£357.5bn) in lost output next year – more than the size of South Africa’s economy.
Christine Lagarde, the IMF’s managing director, underlined her organisation’s growing concern at the most serious outbreak of trade tension since the 1930s and said “self-inflicted wounds” had to be avoided.
Brexit and trade disputes push bank’s policy uncertainty index to record high, says report
Donald Trump’s trade wars with China, Mexico and Europe have sent global investment tumbling, according to a World Bank report that forecasts worldwide growth this year will slip back to levels not seen since 2016.
The Washington-based lender to developing world countries said in its half-yearly global health check that spiralling political uncertainty was to blame for a slowdown in trade and a collapse in investment spending that will push down GDP growth to 2.6% this year “before inching up to 2.7% in 2020”.
Democrats are turning a president enraged at the blocking of his border wall into an unhinged beast
Donald Trump’s threats of higher import tariffs against Mexican goods can be better understood not as an escalation of his trade war with the rest of the world, but as the act of a desperate man, prepared to upset most US business leaders to achieve his aim of building a border wall with the country’s southern neighbour.
His anger, which he will bring with him on a state visit to London on Monday, is not so much with Andrés Manuel López Obrador’s administration in Mexico City as with Congress, which has blocked the border wall, or at least restricted funding to such an extent that its completion is unlikely before the next presidential race gets under way.
After 5% tariff announced, president tweets ‘Mexico has taken advantage of the US for decades’
Donald Trump has defended his decision to impose new tariffs on Mexico as stock markets worldwide were rattled by fears of an escalation in trade tensions.
“Mexico has taken advantage of the United States for decades,” Trump tweeted. “Because of the Dems, our Immigration Laws are BAD. Mexico makes a FORTUNE from the U.S., have for decades, they can easily fix this problem. Time for them to finally do what must be done!”
Senior official says China is ‘not afraid’ of a trade war as Beijing signals potential restrictions on rare-earth exports
Provoking trade disputes is “naked economic terrorism“, a senior Chinese diplomat said on Thursday, ramping up the rhetoric against the US amid a bitter trade war that shows no signs of ending soon.
Zhang Hanhui, China’s vice foreign minister told reporters in Beijing China opposed the use of “big sticks” such as trade sanctions, tariffs and protectionism.
Visit will stress ties between the two countries as tensions over exports rise amid the US-China trade war
Donald Trump and his wife, Melania, landed in Japan on Saturday for a largely ceremonial visit meant to showcase strong ties with Tokyo even as trade tensions loom.
The Japanese prime minister, Shinzo Abe, will treat Trump to an imperial banquet and front-row seats at a sumo tournament during the trip, which lasts until Tuesday.
Shares fall sharply in Asia, Europe and North America in intensifying war of words
The deepening trade and technology war between the US and China has sent global stock markets sharply lower and prompted a warning from the IMF of the increasing risks to the global economy.
Shares fell sharply in Asia, Europe and North America on a day that saw investors alarmed by the intensifying war of words between Washington and Beijing, poor news on the American economy, and political chaos in Britain.
Government will continue to supply aircraft to be used in war, says Jeremy Hunt
The UK government has negotiated a loophole in a German arms export ban to Saudi Arabia that will ensure UK-supplied planes will continue to be used in the war in Yemen, the foreign secretary, Jeremy Hunt, has confirmed.
The news is contained in two unpublished letters from cabinet ministers to the parliamentary Committee on Arms Export Controls (CEAC). The aircraft, Tornado fighter bombers and Eurofighter Typhoons, are used in the Saudi bombing raids designed to push back the Houthi rebellion in the four-year civil war in Yemen. The aircraft were developed by consortiums of European companies and Germany supplies spares for them.
Intensification of tariff dispute also likely to knock almost $600bn off world economy
Donald Trump has been warned by the west’s most influential economics thinktank that further escalation of the US-China trade war would unleash significant damage for the American economy, as well as the rest of the world.
The Paris-based Organisation for Economic Co-operation and Development (OECD) said that an intensification of the dispute between Washington and Beijing would likely knock as much as 0.7% off the level of global GDP by 2021-22.
Finance ministers say Europe is increasingly dependent on Chinese and US technology
It boasts the world’s second biggest economy, a huge consumer market of about 500 million people and prodigious pools of talent and capital, not to mention two of the world’s most important financial centres.
But Europe is struggling to match its great rivals, the US and China, in creating the kind of global firms that increasingly dominate the 21st-century marketplace.
The president’s bullish advisers may be taking a hard line, but the chances of a deal are better than they look
During Donald Trump’s campaign to be president, he regularly cited China’s export subsidies as “evil”, and in his manifesto he pledged to “cut a better deal with China that helps American businesses and workers compete”.
The president turned decades of musings into a policy mission after his son-in-law, Jared Kushner, handed him a book by the academics Peter Navarro and Greg Autry – Death by China – which set out to explain how China manipulated the global trade system for its own ends.
Britain’s construction sector grew by 1% in the last quarter, as building firms got busier.
But Clive Docwra, managing director of construction consulting and design agency McBains, says Brexit is still hurting the sector.
“Today’s figures mark another increase in output, coming after last month’s statistics showed unexpected moderate growth during February.
“However, this was driven by repair and maintenance - there was no growth in new work across the first quarter of the year, including a decrease in private commercial and housing work.
Britain’s politicians are predictably split on whether the UK is romping along healthily, or simply scrambling to protect itself from Brexit.
The Chancellor of the Exchequer, Philip Hammond, takes an upbeat view on today’s growth figures, pointing out that we’ve now enjoyed nine years of growth.
“Today’s figures show the economy remains robust, with growth of 0.5% in Q1 benefitting every major sector.
“The economy has grown for nine consecutive years, debt is falling, employment is at a record high and wages are rising at their fastest pace in over a decade.
“It’s not surprising to see households and businesses protecting themselves against a potentially disastrous Tory No Deal Brexit.
“With this government increasingly resembling a business entering administration it’s time they admitted the failure of their approach and stood aside for a General Election.
The Greek economist is back battling the EU establishment, this time at the helm of a new movement, DiEM25. Backed by Pamela Anderson and the world’s most famous cyborg, he is fighting ultra-right populism with a radical agenda he thinks can restore people's lost faith in democracy. As the European parliamentary elections approach, is anyone listening? Phoebe Greenwood finds out
Donald Trump has insisted that there is “no rush” to secure a deal with China despite growing business and Wall Street fears that the ratcheting up of US tariffs risks a full-blown trade war between the world’s two economic superpowers.
US shares, which were falling for much of the day, staged a late rally on Friday night after Trump tweeted that trade talks “will continue” after the hiking of tariffs on $200bn of Chinese goods.
European commission warns of ‘major shock’ and slashes growth forecast the union
The threat of a full-blown trade war between the US and China and Brexit uncertainty are posing mounting risks to the EU economy, the European commission has warned, after downgrading its growth outlook for 2019.
Brussels’ executive arm said a recent slowdown in global trade volumes had taken its toll across the continent, as it cut its GDP growth forecast for the 28-nation bloc for 2019 to 1.4%, down from a forecast of 1.9% in the autumn.
Report calls for change of priorities and culture to avert catastrophic biodiversity loss
Governments need to ramp up investment in nature restoration and raise the tax burden on companies that degrade wildlife, according to recommendations made to the G7 group of rich nations.
The proposals are part of a growing debate on how to radically change humanity’s relationship with nature in the wake of a new UN mega-report that showed an alarming decline in the Earth’s life-support systems.