US trade war fears drive UK consumer confidence down to record low; Tesla’s European sales fall again – business live
Rolling coverage of the latest economic and financial newsDonald Trump’s tariffs will make it harder for Sir Jim Ratcliffe’s car division, Ineos Automotive, to reach its first profit.Ineos Automotive’s CEO, Lynn Calder, told Bloomberg that the US president’s 25% tariff on foreign cars will make it harder to hit the earnings target.“For sure, this last week has put a dent in that and, for sure, delayed it,”“We’re stubborn as mules. We’re not easy to knock down.”“With fieldwork completed just days after Donald Trump’s “Liberation Day” tariffs, it is unsurprising that consumer expectations for the economy plummeted to a record low. The original tariff schedule, since reduced for most countries, was expected to reduce growth in the UK and elsewhere. Yet despite this economic pessimism, expectations of retail spending rose slightly as the prospect of Easter shopping drew closer.The state of the economy dropped significantly to -48 in April, down from -35 in March.Their personal financial situation worsened to -16 in April, down from -10 in March.Their personal spending on retail rose to +3 in April, up from 0 in March.Their personal spending overall fell slightly to +10 in April, down from +11 in March.Their personal saving rose slightly to -4 in April, up from -5 in March. Continue reading...
Rolling coverage of the latest economic and financial news
Donald Trump’s tariffs will make it harder for Sir Jim Ratcliffe’s car division, Ineos Automotive, to reach its first profit.
Ineos Automotive’s CEO, Lynn Calder, told Bloomberg that the US president’s 25% tariff on foreign cars will make it harder to hit the earnings target.
“For sure, this last week has put a dent in that and, for sure, delayed it,”
“We’re stubborn as mules. We’re not easy to knock down.”
“With fieldwork completed just days after Donald Trump’s “Liberation Day” tariffs, it is unsurprising that consumer expectations for the economy plummeted to a record low. The original tariff schedule, since reduced for most countries, was expected to reduce growth in the UK and elsewhere. Yet despite this economic pessimism, expectations of retail spending rose slightly as the prospect of Easter shopping drew closer.
The state of the economy dropped significantly to -48 in April, down from -35 in March.
Their personal financial situation worsened to -16 in April, down from -10 in March.
Their personal spending on retail rose to +3 in April, up from 0 in March.
Their personal spending overall fell slightly to +10 in April, down from +11 in March.
Their personal saving rose slightly to -4 in April, up from -5 in March. Continue reading...
