Newslinks for Friday 11th April 2025

April 11, 2025

Markets plunge again as Trump admits ‘transition problems’

“Stock markets plunged again on Thursday as the White House confirmed China will be hit with 145 per cent tariffs. Following an escalation in Donald Trump’s trade war with Beijing, the S&P 500 and the Nasdaq fell by as much as 6.3 per cent and 7.2 per cent respectively. The dollar also sank by 1.1 per cent against the pound and oil prices tumbled by 3 per cent, as the president admitted there will be “transition problems” from his tariffs. The falls came less than 24 hours after the US president pulled back from his global tariff onslaught, in a move that saw Wall Street post its biggest jump since 2001.” – Daily Telegraph

UK must strike ‘extraordinary deal’ or face permanent 10% tariffs – The Times
Stock markets’ almighty plunge is far from over – Daily Telegraph
Britain is warned ‘no special deals’ – Daily Mail
Trump says Xi ‘friendship’ will end China stalemate as stocks fall – The Sun
Flattery is a two-way street for Trump, reveals Gove – The Times

Comment

>Today:

Doubts over Badenoch’s grit lead to drop in donations

“Conservative donors are withholding backing for Kemi Badenoch’s party over concerns about her leadership and scepticism that she can see off the threat of Reform UK. Financiers believe Badenoch is failing to capitalise on Labour’s woes and must “prove herself” by stemming losses in next month’s local elections. Some have continued to give money to the party but at lower levels. Others said they were not inclined to give anything at the moment. Badenoch has denied that the Tories face a financial drought, but this week it was reported that Richard Harpin, founder of the repairs business HomeServe and a prominent donor, had paused financial contributions. This sparked fresh questions over fundraising, including the viability of the Tories’ northern headquarters in Leeds.” – The Times

Farage brutally slaps down Badenoch and refuses Tory deal – Daily Express
Reform-led think tank secures funding worth £1m – FT

Comment

>Today:

>Yesterday:

Rayner pleads with union leaders to end Birmingham bin strike

“Angela Rayner has pleaded with union leaders to end the Birmingham bin strikes. The Deputy Prime Minister urged Unite, one of Labour’s biggest donors, to accept the council’s latest offer and stop causing “misery” for residents. Mountains of waste have been piling up on the streets of England’s second city after hundreds of Unite members walked out in a row with the Labour-run local authority last month. In a direct appeal to Unite, Ms Rayner, who is also the Communities Secretary, said: “There is now a better offer on the table and I would urge Unite to suspend the action and accept the improved deal so we achieve fairness for both workers and residents of this city.” – Daily Telegraph

Deputy PM blasted by union boss in huge bin strikes row – Daily Express

UK economy far exceeds forecasts to grow 0.5% in boost to Reeves

“The UK economy unexpectedly expanded by 0.5% in February, figures show, in a boost for Rachel Reeves before an expected downturn triggered by Donald Trump’s tariff war. Reversing a modest fall in January of 0.1%, the increase in gross domestic product in February was five times larger than the 0.1% growth that a poll of City economists had forecast. However, it could mark the last period of expansion before the threats of a global trade war began to dampen business investment and consumer spending. The Office for National Statistics said growth was across all sectors of the economy, including the manufacturing industry, which bounced back from a long downturn.” – The Guardian

British steelmaking on brink of collapse as ministers scramble to save industry and 3,000 jobs – The Sun
Fresh embarrassment for Reeves as she is forced to admit accepting another lavish freebie – Daily Mail
Reeves urged to reject ‘bad tax’ that charges 2% but actually takes 80% of wealth – Daily Express
Labour tells people who have to wait longer for state pension to ‘go to job centre’ – Daily Express

>Yesterday:

Starmer denies watering down pledge on grooming inquiries

“The government will fund more than five local inquiries into grooming gangs “if needed”, Sir Keir Starmer has pledged. The prime minister denied claims that the government had watered down plans, announced in January, to hold five local inquiries in towns where girls were abused. Jess Phillips, the safeguarding minister, revealed there had been little progress on setting up the inquiries as she gave an update minutes before parliament closed for a two-week recess on Tuesday. Starmer is also facing a revolt from a grassroots Labour campaign led by Lord Glasman, a Labour peer, which is demanding that the government launches a nationwide inquiry into grooming gangs.” – The Times

Police force accused of anti-white bias has fair recruitment, says Cooper

“Yvette Cooper has refused to criticise a police force accused of having a racist recruitment policy. The Home Secretary said she would not intervene in the row over West Yorkshire Police, which has put a temporary block on hiring white British candidates. Members of “under-represented” groups can lodge applications with the force early, raising concerns that white British candidates are being treated unfairly and amounting to a potentially unlawful form of positive discrimination. On Thursday, Ms Cooper resisted demands from the Tories to end the policy, saying West Yorkshire Police was complying with “fair recruitment standards”. – Daily Telegraph

Comment

British troops could be deployed in Ukraine for five years

“Britain is considering deploying troops to Ukraine for five years under plans being discussed by allies, The Telegraph can disclose. Military chiefs want the deployment to help train and reconstitute the Ukrainian army to prevent Vladimir Putin from mounting another invasion. A scheme for a phased withdrawal was raised in the discussions being led by Britain and France over a “coalition of the willing” to uphold any post-conflict peace agreement. Under the plan, one of a number of options on the table, a European-led force would be dispatched to Ukraine to initially deter Russia from breaching any settlement and to offer Kyiv’s men some much-needed respite.” – Daily Telegraph

Sunak’s resignation honours: peerage for Gove

“Michael Gove will be given a peerage when Rishi Sunak’s resignation honours list is published on Friday after months of delay. The former prime minister will ennoble a handful of allies to the House of Lords including Alister Jack, the former Scottish secretary, and Simon Hart, the former chief whip. Sunak’s decision to give Gove a peerage threatens to reopen the historic rift with Boris Johnson. The former prime minister’s first bid for No 10 was scuppered when Gove entered the leadership himself in 2016.” – The Times

Gove to receive peerage – FT

Mordaunt criticised for role as British American Tobacco adviser

“Penny Mordaunt, the former Conservative cabinet minister, has become a paid adviser to British American Tobacco, the maker of Lucky Strike and Dunhill cigarettes, provoking criticism from anti-smoking campaigners. The former leader of the House of Commons abstained from the vote on the last government’s Tobacco and Vapes Bill, which was introducing the generational tobacco sale ban, a central piece of the administration’s reforms. Mordaunt, whose previous government roles included minister for disabled people, health and work, is providing consultancy services to BAT’s new tobacco harm reduction advisory group.” – The Times

Mordaunt joins British American Tobacco – BBC News

Turkish opposition leader criticises Starmer for ignoring arrest of Istanbul mayor

“The leader of Turkey’s largest opposition party has hit out at Keir Starmer, accusing the British prime minister of ignoring the arrest of the mayor of Istanbul and democratic backsliding in Turkey. Speaking to the Guardian, the leader of the left-leaning Republican People’s party (CHP), Özgür Özel, said he was disappointed that Starmer had failed to speak up about attacks on a “sister party”. Emphasising that his frustrations were with the Labour leadership and Starmer personally for failing to offer a full condemnation after leading CHP politician and Istanbul mayor Ekrem İmamoğlu was detained last month, Özel said: “Starmer’s attitude is one that he will not be able to explain in future”. – The Guardian