HSBC sets aside more cash for bad loans amid Trump tariff war

UK-based bank warns that trade tensions will lead to lower investment, consumer spending and GDP growth

HSBC has sounded the alarm about the impact of higher trade tariffs on economic growth, unemployment and inflation around the world, as it set aside more money to cover bad debts and reported lower profits.

The UK-based bank reported a $200m (£149m) rise in expected credit losses to $900m in the first quarter, as it increased allowances to “reflect heightened uncertainty and deterioration in the forward economic outlook due to geopolitical tensions and higher trade tariffs”.

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Primark owner’s shares drop as sales fall amid Trump tariff fears

Company says consumer confidence could deteriorate further as countries face risk of recession

Shares in the owner of Primark fell after the budget clothing chain posted a sharp drop in UK sales and lost market share, as the company warned that consumer confidence was likely to worsen further amid Donald Trump’s trade wars.

Associated British Foods (ABF), which also owns a sugar business and food brands such as Ryvita and Kingsmill, said several countries could slide into recession as a result of US trade policy.

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Japan and Philippines to start talks on 2 defense pacts in the face of China’s growing aggression – AP News

  1. Japan and Philippines to start talks on 2 defense pacts in the face of China's growing aggression  AP News
  2. Japan, Philippines pledge to deepen security ties amid China tensions  Al Jazeera
  3. Japan, Vietnam pledge to support free trade as PM Ishiba visits Hanoi  Reuters
  4. Singapore, Australia head to polls, Ishiba visits Philippines  Nikkei Asia
  5. Why China will be wary as US, Japan, Philippines forge closer security ties  South China Morning Post
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Climate plan based on phasing out fossil fuels doomed to fail, says Tony Blair

Former PM claims net zero policies losing public support and says there should be greater focus on carbon capture

Tony Blair has warned that any strategy based on phasing out fossil fuels in the short term or limiting consumption is doomed to fail.

Calling for a reset of action on climate change, the former prime minister suggested the UK government should focus less on renewables and more on technological solutions such as carbon capture.

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Haiti’s first and only cardinal set to vote in upcoming conclave to elect new pope – Catholic News Agency

  1. Haiti’s first and only cardinal set to vote in upcoming conclave to elect new pope  Catholic News Agency
  2. One of these cardinals could become the new pope  AP News
  3. A Contender for the Papacy in the Mold of Francis  The New York Times
  4. Papal conclave will last only 2 or 3 days, cardinal predicts  ABC News
  5. When is the conclave? The Vatican sets date to elect new head after Pope Francis' death  USA Today
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Jo Cox family says Kneecap offering ‘half an apology’ over alleged call to kill MPs

Husband of murdered Labour MP says Belfast rappers’ talk of being unfairly targeted undermines their statement

Brendan Cox, the husband of the murdered MP Jo Cox, has said the Irish rap trio Kneecap have offered only “half an apology”, after criticism of comments in which they appear to call for politicians to be killed.

Kneecap apologised to Jo Cox’s family and that of the MP David Amess, who was also murdered, in the face of mounting criticism, including from Downing Street and Kemi Badenoch, the Conservative leader.

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Two men filmed felling of Sycamore Gap tree during ‘mindless’ act, court hears

Jury shown phone footage with sound of chainsaw and toppling tree, in trial of pair who deny criminal damage

Two men filmed themselves using a chainsaw to fell the famous Sycamore Gap tree on Hadrian’s Wall in an act of “mindless criminal damage”, a court has heard.

Daniel Graham, 39, and Adam Carruthers, 32, embarked on a “moronic mission” to cut down in minutes a tree that had stood for more than 100 years, the prosecutor Richard Wright KC told Newcastle crown court.

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RecipeTin Eats founder accuses Brooki Bakehouse of plagiarising recipes in popular cookbook

Brooke Bellamy denies taking recipes from fellow cookbook author Nagi Maehashi who said it felt like ‘blatant exploitation’

The founder of food website RecipeTin Eats has accused an influencer of plagiarising her recipes in a bestselling Australian cookbook.

On Tuesday Nagi Maehashi, who started RecipeTin Eats in 2014, accused Brooke Bellamy – also known as Brooki Bakehouse – of plagiarising two of her recipes in Bellamy’s popular cookbook, Bake with Brooki.

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US fighter jet rolls off aircraft carrier as ship reportedly swerves Houthi fire

Crew members jump out of Super Hornet before jet and towing tractor fall into the Red Sea

US sailors had to leap for their lives when a fighter jet fell off a navy aircraft carrier that was reportedly making evasive maneuvers to avoid Houthi militant fire in the Red Sea on Monday.

The F/A-18 fighter Super Hornet jet, along with the vehicle towing it into place on the deck of the USS Harry S Truman, rolled right out of the hangar and into the water, the navy said.

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Adidas warns Trump tariffs will put up US shoe prices

Company had strong first quarter but says it cannot raise outlook for this year owing to tariffs uncertainty

Adidas has said the price of its popular trainers, including the Samba and Campus models, is likely to rise as a result of Donald Trump’s tariffs.

The German group said the uncertainty around US import tariffs had prevented it from raising its outlook for sales and profit this year despite reporting strong first-quarter results.

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Trump vowed to end wars, equalize trade. He’s delivered something else. – Politico

  1. Trump vowed to end wars, equalize trade. He’s delivered something else.  Politico
  2. What Trump has done in his first 100 Days on 14 major campaign promises  NBC News
  3. Trump said he could stop the Ukraine war in 24 hours. After 100 days, a deal still eludes him  CNBC
  4. Fact check: It wasn’t ‘in jest.’ Here are 53 times Trump said he’d end Ukraine war within 24 hours or before taking office  CNN
  5. Trump promised peace in 100 days, but Russia's violence against Ukraine has only escalated  The Kyiv Independent
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