Author: WTX Business Team

Europe’s firms fall far behind in the race to create big tech The Wall Street Journal reports that the big tech industry is growing – but Europe is falling behind. The continent lacks “homegrown alternatives to the likes of Google, Amazon or Meta” and notes that Apple’s market value is bigger than the entire German stock market. “The continent’s inability to create more big technology firms is seen as one of its biggest challenges and…

The FT reports the EU plans to levy a flat fee of €2 on billions of small packages entering the bloc, mainly from China, in a fresh blow to low-cost online retailers such as Temu and Shein.

Fiscal concerns put pressure on dollar and bond market Treasury yields recede from their morning highs, but still inch higher in the long end, as the U.S. budget deficit emerges as a top concern in Wall Street. After Moody’s downgraded the U.S. debt and Congress advanced a bill widely expected to increase the country’s borrowing needs, investors sold off Treasurys and the dollar. The mood improved during the session, to start a week relatively light…

We are sorry to inform you that Brexit is back Ongoing talks between the UK and the EU will come to a head at a summit in London on Monday, as the government seeks a post-Brexit “reset” of relations. The talks have come about as part of a routine five year review of the UK-EU trade and cooperation agreement, though they have taken on new significance as Labour seeks to strengthen trade and economic ties…

UK economy grows 0.7% in Q1, driven by services, but concerns rise over future tariffs.

Burberry shares rise as it plans to cut 2,000 jobs and boost efficiency, aiming for £200m in savings.

The UK’s leading business lobbying group, the CBI, is calling for a major reset in relations with the EU, saying the current post-Brexit setup is “no longer fit for purpose”. Ahead of a UK-EU summit on 19 May, the group has urged both sides to rebuild trust and take “practical steps” to reduce red tape, ease staff mobility, and coordinate on climate, defence and energy.

Post-Brexit reset talks with Brussels stall over fishing and youth mobility The FT leads with the preparations for a post-Brexit “reset” of relations between the UK and the EU were thrown into turmoil on Wednesday after EU member states demanded further concessions from London over fishing rights and youth mobility. With only five days until an EU-UK summit in London, EU diplomats rejected European Commission attempts to bridge gaps between the two sides that have…

Beijing fears over UK-US trade accord cloud London’s bid to revive China ties FT says China has criticised a trade deal between the UK and US that could be used to squeeze Chinese products out of British supply chains, complicating London’s efforts to rebuild relations with Beijing. The trade deal the US sealed with the UK last week, which includes strict security requirements for Britain’s steel and pharmaceuticals industries, was the Trump administration’s first since…

What Putin wants—and how Europe should thwart him The Economist says “Putin’s war aims have swollen to justify Russia’s losses. What began as a special military operation next door has become Russia’s existential struggle against distant enemies. This is a profound shift. It means Ukraine’s future depends on Mr Putin’s ambitions more than President Donald Trump’s theatrical diplomacy. It also means that many Europeans are complacent about the threat Russia poses—and that they misunderstand how…

China and US call truce in trade war with deal to slash punishing tariffs The FT reports that the US and China have agreed to lower tariffs for the next 90 days in a major de-escalation in the tariff war that is threatening to cut off trade between the world’s two largest economies. Starmer’s crackdown on immigration echoes Brexit vow to ‘take back control UK Prime Minister Sir Keir Starmer has announced a migration crackdown…

The UK’s labour market has continued to show signs of strain, with the number of workers on company payrolls falling during the opening months of 2025. According to the Office for National Statistics (ONS), both employment figures and job vacancies have declined, suggesting ongoing softness in the economy.

Financial Times reports that the prime minister is the first to seal a deal with the United States since Donald Trump unleashed his tariffs war on the world.

With air passenger traffic reaching an all-time high of 68.4 million for the year ended March 2025, the Republic’s aviation industry remains a bright spot amid global turbulence and uncertainty.

The Taiwan test Relations between America and China are at a low ebb. Tariffs of well over 100% on both sides have severed trade. Each is striving to dominate 21st-century technologies such as artificial intelligence (AI). A massive military build-up is under way. In the previous cold war such rivalries came to a head over flashpoints like the Berlin airlift and the Cuban missile crisis. Today American resolve is likely to be tested over Taiwan—and…

Trump ditches Waltz after Maga wrath builds against national security adviser Donald Trump has tapped secretary of state Marco Rubio to be interim national security adviser after firing Mike Waltz and his deputy following a scandal over the use of a private messaging app to discuss military plans. Trump announced the move on Truth Social on Thursday afternoon, saying Waltz would be nominated to serve as US ambassador to the UN, keeping a prominent role…

Trump trade war distorts US economy as banks win and consumer mood dims The US economy contracted by an annualised 0.3 per cent over the first quarter, as companies in the world’s largest economy responded to Donald Trump’s trade war by rushing to import goods. The fall in the GDP reading — the first since 2022 — was worse than economists’ most recent forecasts and compared with the 2.4 per cent rise for the fourth…

Mark Carney’s Liberals win pivotal Canadian election Mark Carney has won Canada’s election after a campaign dominated by the country’s relationship with the US under Donald Trump. Carney’s Liberal party was on track to win the largest number of seats and the right to form a government. But it was still unclear whether it would be able to secure a parliamentary majority as counting continued. The Liberals capitalised on a patriotic surge in the face…

The front page of the Financial Times this morning, 28 April 2025. Catch up on the back pages here.

The main stories on the front page of The Economist: Catch up on all the business newspapers here.

Monday 28 April 2025 – The front page stories today: Alvarez & Marsal plans $18 billion float FCA plans fast-track for raising cash BP urged to slim down and cut jobs Mo Farah launches fitness app High-profile banker leaves UK for Milan London homebuilding hits 16-year low WPP rebel launches rival agency