6:45 am, April 9, 2025
UK braced as more US tariffs kick in amid fears of widespread economic damage
Britain is ‘accelerating trade deals with the rest of the world’, Rachel Reeves insisted as more of Donald Trump’s global tariffs came into effect on Wednesday after a week of market turmoil.
Countries across the globe have been braced for potential widespread economic damage from the import taxes on goods entering the US from midnight Washington time – just after 5am in the UK.
The chancellor and business secretary will later meet India’s finance minister for talks aimed at negotiating a deal with the country as the Chancellor said she wanted to create ‘the best possible conditions’ for British business in a ‘changing world’.
Nationalising British Steel must be ‘last resort’ – Badenoch
Nationalising British Steel must be a ‘last resort’, Conservative Party leader Kemi Badenoch has said as the government reiterated it was keeping “all options on the table” after a meeting to reassure the industry.
British Steel has launched a consultation on the proposed closure of blast furnaces at its Scunthorpe plant and the government has been talking to the company’s Chinese owner Jingye.
Badenoch said the Scunthorpe steel plant was ‘in peril’ because of Labour’s ‘wrong choices’. ‘Nationalisation has got to be a last resort,’ she said, adding: ‘We need steel production in this country.’
Bentley’s Continental GT and Flying Spur gain new plug-in hybrid V8
Bentley has bolstered the powertrain options available with its Continental GT and Flying Spur models with a new plug-in hybrid setup.
Sitting underneath existing Ultra Performance Hybrid models, the new High Performance Hybrid offers 671bhp and 930Nm of torque and delivers greater levels of performance and acceleration than previous W12-powered models. In addition, the plug-in hybrid setup can return up to 50 miles of electric-only running from a full charge.
The setup, which is available across all models, combines a 4.0-litre twin-turbocharged V8 engine with a compact electric motor and 25.9kWh battery. It’ll be available in new core and Azure trim levels, with the latter bringing silver machined 22-inch alloy wheels, model-specific badging at the front and 3D diamond quilting on the inside.
The markets
Global financial markets rebounded during Tuesday trading amid hopes that some US trading partners will be able to strike trade deals to avoid the full force of US President Donald Trump’s tariff plans.
The FTSE 100 finished up by 2.71%, or 208.45 points, to close at 7,910.53. The Cac 40 ended 2.5% higher for the day and the Dax index was up 2.36%.
The pound was up 0.3% at 1.276 US dollars and was up 0.45% at 1.170 euros when London’s markets closed.
Universal theme park set to open in UK in 2031 after government backs deal
A deal to secure the first Universal theme park in Europe has been closed by the government in the hope it will generate tens of billions of pounds for the economy.
The resort in Bedfordshire is set to open in 2031 following an agreement between Universal, the government and the local council. The attraction will be one of the largest and most advanced theme parks in Europe, with 8.5 million visitors expected in its first year.
By 2055 Universal expects the 476-acre site near Bedford to generate nearly £50bn for the economy, with a 500-room hotel and a retail and entertainment complex planned along with the theme park.
IMF agrees £15.6bn bailout with cash-strapped Argentina
The International Monetary Fund (IMF) said it has reached a preliminary agreement with cash-strapped Argentina on a 20 billion-dollar (£15.6bn) bailout.
Tuesday’s agreement would provide a welcome reprieve to libertarian president Javier Milei as he seeks to overturn the country’s old economic order.
The fund’s announcement offers a lifeline to Milei, who has cut inflation and stabilised Argentina’s economy with a free-market austerity agenda that has reversed the reckless borrowing of his left-wing populist predecessors.
Latest on Car Dealer
Trade Centre UK comes ‘under fire’ after Ford Fiesta goes up in flames within days of sale
Trade Centre UK is investigating after a Ford Fiesta sold to Mohammed Khan caught fire days after purchase. Khan, who had prior issues with another car from the dealer, claims the fire was due to an electrical fault. No injuries occurred.
Ineos pokes fun at haters with cheeky advertising campaign outside JLR showroom
Ineos Automotive launched its bold ‘Us vs. Them’ campaign, cheekily positioning its Grenadier off-roader against JLR’s Defender. With provocative billboards and social media posts, Ineos aims to highlight its independence and end comparisons to Land Rover after winning legal battles.
Swansway’s Motor Match set to open sixth used car supermarket at former Bravoauto site
Swansway Motor Group is expanding its Motor Match used car network by taking over a former Bravoauto site in Stoke-on-Trent. The long-vacant dealership is being renovated, becoming Motor Match’s sixth UK location, with recruitment underway for new mechanics.
Five men jailed after police uncover illegal luxury car ‘chop shop’ worth more than £700,000
Five men have been jailed for running an illegal chop shop in Surrey, dismantling and exporting high-end stolen cars. Caught during a police raid, the group handled over £700,000 in stolen vehicles. Sentences ranged from six to 32 months.
Weather
Today will be fine, dry, and mild across most of the UK with plenty of sunshine, though some high cloud and low cloud will linger along North Sea coasts, reports BBC Weather. It’ll be another mild day with temperatures reaching 16 degrees.
Tonight will remain dry and clear, with low cloud spreading westwards into central and southern England.
