Author: Fatimah Idera

The United States and Britain will announce a deal to lower tariffs on some goods on Thursday, the first such agreement since U.S. President Donald Trump sparked a global trade war with universal levies. In his posts on Truth Social, Trump said he would hold an Oval Office news conference about a full and comprehensive trade agreement with Britain. Prime Minister Keir Starmer, who describes the U.S. as an indispensable ally, is due to provide an update later on Thursday. The deal is likely to be narrow, with Britain securing lower tariffs on cars and steel, the two sectors hardest…

Following reports of a potential trade deal between the US and UK, the pound has remained steady against the dollar while UK mid-cap shares rallied as it coincides with the Bank of England’s expected interest rate decision that is likely to result in a quarter-point cut. Sterling rose as much as 0.5% against the dollar after the New York Times reported the possible trade deal before trimming gains to trade flat on the day at $1.3288. Britain’s Prime Minister Keir Starmer will provide an update later on Thursday on trade talks with the United States, a spokesperson for his office…

U.S. President Donald Trump, announced it aims to protect one of its biggest creative industries by having active discussions with top U.S. officials over the 100% tariff on all movies produced outside the country. “We are already in active discussions with the top of the U.S. administration on this subject. We are working hard to establish what might be proposed, if anything, and to make sure our world-beating creative industries are protected,” creative industries minister Chris Bryant told parliament on Wednesday. Bryant noted that Trump had not given any details about his proposal, adding that it was not clear how…

Britain’s Trade Minister has defended a contentious tax break for some Indian workers agreed as part of a landmark free trade agreement with India, saying the idea that he had undercut British workers was absolute nonsense. The trade deal, which includes a range of tariff cuts on British imports to India, also exempts some short-term workers from India from paying into Britain’s social security system for three years. The exemption under the so-called Double Contributions Convention also applies to British workers in India, but while Britain barely made mention of this element of the trade deal, India hailed it as…

Ed Miliband has called for a massive expansion of solar power through the untapped potential of Britain’s car parks. The Energy Secretary while seeking views on how to spur the construction of solar panel canopies above parking spaces at supermarkets, offices and shopping villages. The idea is viewed as a win-win because it would make better use of sprawling car parks while also generating more green electricity, potentially lowering bills for businesses. Motorists would also benefit from more shaded parking spots and potentially a larger number of electric car charging stations, which could be powered directly by the panels, the…

President Donald Trump said Moscow and Kyiv want to settle the war in Ukraine and that Russian President Vladimir Putin was more inclined towards peace after the recent fall in the price of oil. “I think Russia, with the price of oil right now, oil has gone down, we are in a good position to settle, they want to settle. Ukraine wants to settle,” Trump said on Monday. The price of oil, which drives the Russian economy, has fallen around $15 a barrel since the start of the year. OPEC+ will accelerate oil output hikes. “We’ve come a long way,…

The introduction of steep U.S. tariffs on low-value shipments from China and Hong Kong has pushed a Hong Kong-based watch company to shift its business strategy, turning its focus from America to Europe. Quinn Lai, founder of the DIY Watch Club, which specialises in do-it-yourself timepiece assembly kits, saw the writing on the wall when the U.S. announced it would end duty exemptions for small packages from China and Hong Kong. Beginning May 2, these items are now subject to a hefty 90% tariff or a \$75 flat fee under escalating trade tensions between Washington and Beijing. With over 80%…

In his bid to become the country’s 10th chancellor, Friedrich Merz, leader of Germany’s conservative Christian Democratic Union (CDU), has failed by falling short by six votes in the first round of voting in parliament. Merz, who had been widely expected to win the parliamentary vote, needed 316 votes in the secret ballot held on Tuesday, but he received only 310. The failure to win the required majority means that the political parties will now regroup to discuss the next steps. It is an embarrassment for Merz as no candidate for German chancellor had ever failed to secure an absolute…

The Trump administration announced on Monday that it will pay a sum of $1,000 stipend and travel assistance to illegal immigrants for self deport from the U.S said the Department of Homeland Security. The stipend and potential airfare for migrants who voluntarily depart would cost less than an actual deportation, the agency said. The average cost of arresting, detaining and deporting someone without legal status is currently about $17,000, according to DHS. President Donald Trump, a Republican, took office in January pledging to deport millions of people but so far has trailed deportations under his Democratic predecessor Joe Biden. Biden’s…

Ahead of the conclave beginning this week, all 133 Catholic cardinals eligible to vote for a new pope have arrived in Rome, the Vatican confirmed on Monday. They will enter into seclusion in the Sistine Chapel at 4:30 pm (1430 GMT) on Wednesday, voting in secret until one of them secures the required two-thirds majority to become the next head of the Roman Catholic Church. Summoned following the death of Pope Francis on April 21, the group — representing 70 countries across five continents. The 133 “Princes of the Church” who will vote — all those aged under 80, minus…