British businesses continued to cut jobs for the third consecutive month, facing pressure from rising taxes and the impact of US trade policies. According to the Office for National Statistics, the number of payrolled employees declined by 33,000 in April.
The British economy saw the fastest retail sales growth since the beginning of 2021 in the first quarter. According to the Office for National Statistics, the figure grew by 0.4% in March due to record sunny weather, as opposed to the expected decline of 0.4%.
UK Chancellor of the Exchequer Rachel Reeves has signaled progress in negotiations with the United States to reduce trade barriers, including duties on cars and pharmaceuticals.
On Thursday, major US supervisors decided to lift several restrictions on crypto banking activities. These included the Fed, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).
XPR community has once again come into the spotlight due to rumors of possible partnership between Ripple and SWIFT — two major companies in global payments' sphere.
In a Friday announcement, Prime Minister Shigeru Ishiba disclosed plans for emergency economic relief measures designed to mitigate the effects of recently imposed US import duties on Japanese industries and households.
President Donald Trump signed an executive order aimed at developing deep-sea mining in the United States. This initiative seeks to expand mining operations in both US and international waters, in response to China's increasing dominance in this critical industry.
According to yesterday's statements from the Confederation of British Industry (CBI), the number of orders at British enterprises in April declined slightly. At the same time, export orders showed a sharp decline due to global trade tensions.
Tokyo's inflation rate accelerated in April, hitting a two-year high. The surge strengthens the case for the Bank of Japan (BOJ) to raise interest rates, even as uncertainty lingers over US tariff policies, Bloomberg reports.
UK consumer confidence fell to a 17-month low in April, dropping to -23 from -19 in March, according to market research firm GfK. The decline reflects increasing concerns about the country's economy, driven by rising utility bills and concerns over US trade policy, as reported by Reuters.
An increase of the indicator value may contribute to the rise in quotes of GBP.
