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London CNN  —  Britain’s economy shrank by the most in nearly two years in April, when President Donald Trump’s tariffs also caused UK goods exports to the United States to fall by a record amount. Gross domestic product contracted by an estimated 0.3% that month – after expanding 0.2% in March – according to the Office for National Statistics, the sharpest month-on-month decline since October 2023. The drop was largely due to a contraction in the services sector, which took a knock after the government ended a tax break for some home buyers. But Trump’s trade war also played a…

Despite Trump’s claims that the U.S. is being cheated in trade deals, globalization continues to fuel growth here and abroad, lifting the economies and standards of living of nearly every nation on the planet. Donald Trump has used his first five months back in office to attack longtime allies like Canada, Mexico and the European Union, insisting the United States “will no longer tolerate being ripped off.” His posture with trade partners has been more competitive than collaborative, imposing or threatening heavy-handed tariffs under the pretense that they’re running up trade deficits to enrich themselves at Americans’ expense. He’s right…

MONTEVIDEO: A goal by Vinicius Junior secured Brazil a place in the 2026 World Cup, quite a momentous home debut for Carlo Ancelotti as head coach. The once prolific duo at Real Madrid helped Brazil to a 1-0 win over Paraguay at Sao Paulo, the first win of Ancelotti’s reign. Ecuador secured their place at next year’s global tournament later Tuesday with a 0-0 draw at Peru. Defending champions Argentina, held to a 1-1 draw by Colombia, had already qualified and are assured of finishing atop South American qualifying. Ecuador and Brazil each have 25 points in the standings, but…

Noam Galai/Getty Images It has been a solid year for the banking industry, characterized by strong profitability, steady deposit growth and a continued rebound in investment banking fees and trading revenues. U.S.-based and Chinese banks once again dominate the 2025 Forbes Global 2000 list, which measures the world’s largest and most successful companies. Half of the top ten companies on the list are banks based in the United States or China. JPMorgan Chase claimed the top spot overall for the third year in a row, after rising from fourth place in 2022 following its acquisition of First Republic out of…

GRONINGEN: Dutch player Virgil van Dijk heads during the World Cup qualifier against Malta at Euroborg Stadion.—Reuters PARIS: Netherlands maintained their winning start to European 2026 World Cup qualifying by dismissing Malta 8-0 on Tuesday, while their group rivals Poland lost to Finland in a match interrupted due to a medical emergency in the crowd. The results leave Finland top of Group ‘G’ on seven points after four games, one ahead of the Dutch who have played two matches less. Poland are third, also on six points with three games played. In Groningen, the Dutch raced into a three-goal lead…

LAHORE: The Pakistan Super League (PSL) next year is set to clash with the high-profile Indian Premier League (IPL) as the Pakistan Cricket Board (PCB) is mulling to hold the event in the same window as the IPL, the Press Trust of India (PTI) news agency reported on Wednesday. The reason being given is that with the T20 World Cup scheduled in February-March next year and some Future Tours Programme commitments, it might not be possible again to hold the PSL in its normal window of February-March. “There is a window available to the Pakistan board in December and first…

Sdi Productions | E+ | Getty ImagesMillions of Social Security beneficiaries received a 2.5% boost to their benefits in 2025, thanks to an annual cost-of-living adjustment that went into effect in January.In 2026, Social Security checks may go up by the same amount — 2.5% — based on the latest government inflation data, according to new estimates from both The Senior Citizens League and Mary Johnson, an independent Social Security and Medicare policy analyst.That is up from the 2.4% increase for 2026 that those sources forecast last month. A 2.5% cost-of-living adjustment would be “about average,” according to Johnson.The Social…

New York CNN  —  JPMorgan Chase CEO Jamie Dimon warned on Tuesday that encouraging economic data could soon turn worrisome as President Donald Trump’s tariffs continue to bite. “You’re going to see real numbers, and I think there’s a chance real numbers will deteriorate soon,” Dimon said, according to a FactSet transcript of the Morgan Stanley US Financial Conference in New York. Trump’s tariffs have yet to really affect data like monthly inflation and jobs reports, but the economy is prone to a downturn if that changes, he said. Wall Street has been eager for any sign the economy might…

President Donald Trump’s proposal for a new savings account for children with a one-time deposit of $1,000 from the federal government just got an important stamp of approval.At the “Invest America” roundtable at the White House this week, several top CEOs, including Michael Dell and Goldman Sachs chief David Solomon, expressed support for “Trump Accounts,” which are part of the landmark Republican-backed “big beautiful bill” moving through Congress. The executives committed to contributing to the accounts of their employees’ children, and, in Dell’s case, matching the government’s seed money “dollar for dollar.”Still, policy experts and financial advisors question whether the provision is the most…

US cities hosting next year’s FIFA World Cup faced questions on Wednesday about how to reassure international fans concerned by President Donald Trump’s immigration crackdown and travel ban as the year-to-go countdown began. The United States, along with Canada and Mexico, is set to co-host the finals, which will feature 48 teams and a record 104 matches in a tournament that FIFA boss Gianni Infantino said would usher in a new generation of football fans. Celebrities and football stars were due to walk the red carpet at the Fox Studio Lot in Los Angeles — one of the host cities…