Jaguar Land Rover to cut 4,000 jobs worldwide over two years
Britain's largest carmaker will shed roughly a tenth of its workforce, mostly in management and research roles, as it tries to recover from a cyberattack, US tariffs and falling sales.
Author · News Unlimited
Sarah Jenkins
Analyzes macroeconomic trends, central bank policies, global inflation, tariff disputes, and international trade agreements.
Articles by Sarah Jenkins
Hedge fund billionaire Chris Rokos to leave UK tax residency for Greece
Chris Rokos, founder of Rokos Capital Management and Britain's third-highest taxpayer last year, is preparing to move his tax residency to Greece and open an office in Athens, Bloomberg reports.
Houthi Attacks on Saudi Oil Sites Push Brent Crude Toward $100
Yemen's Houthi rebels struck energy facilities across southern Saudi Arabia on 8 September, injuring more than 70 people and driving oil and gas prices sharply higher.
Canada Hits Back at US With Tariffs on 700 Products
Canada has imposed retaliatory tariffs of up to 50% on roughly US$20 billion of American goods, deepening a trade dispute that began when President Trump raised duties on Canadian exports earlier this year.
Trump announces US stake in Venezuela's oil reserves after Maduro's capture
US President Donald Trump says a new joint venture gives Washington majority control of tens of billions of barrels of Venezuelan crude. The deal follows the capture of former president Nicolás Maduro and comes with a 100-year concession attached.
Fed's Warsh gives first Jackson Hole speech amid rate uncertainty
Kevin Warsh delivers his debut keynote as Federal Reserve chair on Friday, with investors seeking clarity on inflation and interest rates after months of sparse communication.
Nvidia forecasts 70% revenue growth, well above Wall Street estimates
Nvidia issued its first-ever year-ahead forecast, predicting revenue growth far outpacing analyst expectations, while defending its financing arrangements with AI customers against accusations of circular dealing.
Meta agrees $16.7bn settlement with US states over child safety
Meta Platforms has settled with a coalition of 29 US states midway through a federal trial in California, agreeing to pay billions and change how Instagram and Facebook treat young users.
China warns US of retaliation over expanded Iran sanctions
Beijing says it will defend Chinese companies after Washington sanctioned nearly 60 entities tied to Iran's oil trade, including firms in Hong Kong and mainland China.
Druckenmiller Criticises Bessent's Expanded Treasury Bond Buybacks
Billionaire investor Stanley Druckenmiller has publicly attacked his former protégé, US Treasury Secretary Scott Bessent, over a plan to buy back more long-term government bonds, calling it an attempt to manage prices rather than markets.
Shein Confirms Hong Kong Listing at Roughly $27bn Valuation
The fast-fashion retailer will list on the Hong Kong Stock Exchange on 1 September, at a valuation far below the $100bn it once commanded, after repeated failed attempts to go public in New York and London.
Global Trade Defies Tariff Forecasts, WTO Sharply Raises 2025 Outlook
Economists expected Donald Trump's 2025 tariffs to shrink world trade. Instead, the World Trade Organization has repeatedly revised its growth forecast upward, as businesses rerouted shipments rather than abandoned them.
Portugal and Spain face Europe's worst housing shortages
Both Iberian countries are building far fewer homes than their growing populations need, driving up prices and rents and fuelling street protests. Immigration-led population growth, planning bureaucracy and high construction costs are all cited as causes.
China's oil stockpiles cushioned global markets during Hormuz crisis
China's record crude reserves and falling oil demand helped steady prices after the Strait of Hormuz was closed, according to US government estimates. Analysts say the episode revealed a deeper shift toward energy self-sufficiency and electrification.
Guardian probe finds gap between Microsoft's AI claims and chip numbers
An investigation by the Guardian has found Microsoft has far fewer advanced AI chips installed than its public statements imply. The company disputes the newspaper's figures but has not said which numbers are wrong.
FT poll: most US voters say Trump has left them worse off
A new Financial Times poll finds most American voters feel worse off financially under Donald Trump, with Democrats now leading Republicans on the economy just months before November's midterm elections.
BlackBerry rebuilds as software firm a decade after phones vanished
Ten years after abandoning its once-iconic handsets, the Canadian company has turned itself into a supplier of car software and cybersecurity tools, with customers including automakers, NATO and European governments.
Panama Canal transit fees hit record highs as Hormuz shuts
Shipping companies are paying more than $1 million, and in some cases up to $4 million, to jump the queue at the Panama Canal. The surge follows the closure of the Strait of Hormuz and a new El Niño-driven drought.
US 30-year bond yield hits highest level since 2001 amid inflation fears
The US Treasury sold $25bn of 30-year bonds at a yield of 5.216%, the most expensive long-term borrowing since 2001, as investors demand greater compensation for persistent inflation and a widening deficit.
BAE Systems pays $36m penalty for 104 US arms export violations
The US State Department has concluded a settlement with the British defence company's US subsidiary over breaches of arms export rules. Half the penalty will be suspended if BAE strengthens its compliance programme.
Greenland Delays Trump-Linked Oil Firm's Arctic Drilling Plans
Greenland's government has told Greenland Energy, a Texas company with ties to Donald Trump, that it cannot obtain drilling permits in time for its planned start date. The decision pushes back a project the US president's envoy had said could produce oil within a year.
Oil nears $90 as US-Iran talks stall; Tui profits sink 43%
Brent crude climbed close to $90 a barrel on Tuesday after negotiations between Washington and Tehran over reopening the Strait of Hormuz broke down. The travel group Tui reported a 43% drop in quarterly pre-tax profit, citing higher fuel costs tied to the conflict.
UK heatwaves cost economy £4.4bn in lost output this year
Repeated heatwaves between May and July are estimated to have cut UK economic output by £4.4bn, according to green think tank Verdant, which warns annual losses could exceed £25bn by 2030.
Chinese EV sales hit record share of European market
Chinese electric car brands captured 14.2% of western Europe's battery electric vehicle market in early 2026, intensifying pressure for tighter tariffs and quotas.
Trump demands Iran pay compensation, deepening Strait of Hormuz deadlock
Oil and gold prices jumped after US President Donald Trump said Iran must compensate Washington for war damages, a new condition that further complicates efforts to reopen the Strait of Hormuz. British housebuilder Bellway also warned that profit will land at the bottom of its forecast range.
Why global trade keeps growing despite Trump's tariff war
World merchandise trade grew faster than expected in 2025 even as the United States imposed its steepest tariffs in a century. Economists point to rerouted supply chains, a surge in AI-related exports, and new deals bypassing Washington altogether.
US jobs fell in July but economist says data is not alarming
The US economy unexpectedly shed jobs in July and prior months were revised sharply lower. Economist Jed Kolko says the unemployment rate and broader trends tell a more reassuring story.
Backlash grows against Meta smart glasses over privacy fears
Users of Meta's camera-equipped Ray-Ban glasses report public hostility and online abuse, as European regulators separately scrutinise whether the devices comply with privacy law.
Airbus delivers 67 jets in July, books 204 new orders
Airbus handed over 67 aircraft in July, matching its pace from a year ago, while formally booking a wave of Chinese airline orders that pushed its 2026 order tally past 1,000 for the first time.
ECB warns wildfires and nature loss threaten core financial stability
Europe's worst wildfire season in modern times has prompted the European Central Bank to declare climate and nature breakdown a direct threat to price stability, loan quality, and the global economy. The bank is now acting on that assessment, not just studying it.
Iran missile attack on US forces sends oil surging 6%
Iran's Islamic Revolutionary Guard Corps launched ballistic missiles at American forces on Wednesday, shattering a brief pause in hostilities and driving crude oil prices sharply higher.
IMF cuts global growth outlook as trade uncertainty bites
The International Monetary Fund projects world economic growth at 3.0 percent in 2025 and 3.1 percent in 2026, a modest recovery from April's gloomier forecast but still well below pre-pandemic norms. Tariffs, fragmentation, and threats to central bank independence remain the Fund's chief concerns.
ASML nears $700bn as AI chip boom puts trillion-dollar milestone in sight
The Dutch semiconductor equipment maker has doubled in value within a year, fuelled by surging AI-driven demand for its irreplaceable chip-printing machines. Analysts say a $1 trillion valuation is now a realistic, if not certain, prospect.
EU-US goods trade hit €875bn record in 2025, but damage lurks beneath
A new study by Germany's leading economic research institute finds transatlantic goods trade reached an all-time high last year, even as tariffs battered European manufacturers and distorted the picture with a pre-tariff export rush.