Lloyds flags UK economy ‘deterioration’; Elon Musk warns ‘rough quarters’ ahead for Tesla – business live

Live, rolling coverage of business, economics and financial markets as UK’s biggest high street bank says unemployment will peak higherOutput from Germany’s manufacturing industry is likely to shrink in July, according to an early reading of the purchasing managers’ index (PMI).The “flash” reading came in at 49.2 points, below the 50 points that indicates an expansion, but slightly above economists’ expectations of 49, according to data company S&P Global.The economic situation in the manufacturing sector remains fragile, as underscored by the headline PMI remaining below the 50 mark. However, the fact that production in this sector has now expanded for five months in a row is encouraging.Given the sustained rise in export orders over the past four months, it is reasonable to anticipate a continued expansion in output. Against this backdrop, manufacturing companies have also slowed the pace of job cuts. Overall, we see increasing signs of a recovery in the manufacturing sector.I’m very concerned about automotive, the pressures on the system which come from the US trade agenda, but also an incredible increase in capacity from China.It’s why as a government we’ve adopted so many measures specifically around the automotive sector. So that’s everything from the industrial strategy, which reduces the energy costs for British automotive factories making vehicles – cars, vans and buses. Continue reading...

Comments

Business News

Trump says Fed’s Powell is ready to start slashing interest rates

Newyork Post

Musician Zac Brown And Almost-Billionaire Kendra Scott Celebrate Engagement News—But He’s Still Fighting Ex-Wife In Court

about 4 hours ago

Raiders’ Release Of Christian Wilkins May Conflict With Medical Autonomy Provided For In CBA

Forbes

Comments

Similar News

Lloyds chief sounds alarm over tax hikes - as latest figures show economy slowing and unemployment rising

A profit boost for Lloyds, working mums and a trade deal with India

Lloyds boss warns Reeves against raising bank taxes amid growth mission

Lloyds boss warns Reeves against raising bank taxes amid growth mission

Lloyds boss warns Reeves against hiking taxes on banks as profits rise 17%

Lloyds Bank to axe bank account key perk for thousands of customers – check if you’ll have to pay more

Lloyds boss warns Reeves against tax hikes as it forecasts weaker growth

Lloyds Bank profits rise as mortgage lending and savings balances swell

Lloyds profits jump to £3.5bn despite higher costs and defaults

FTSE 100 Live 24 July: Index record run to continue, Lloyds and BT post results

Lloyds Bank profits rise as mortgage lending and savings balances swell

Lloyds Bank launches lowest mortgage rate on the market but there's a catch

Lloyds slashes charge on ready-made investment fund to lure in customers: Is it a good deal?

Lloyds to make extra £4bn available to help more first-time buyers

Lloyds to make extra £4bn available to help more first-time buyers

Lloyds to hand bigger mortgages to thousands of first-time buyers

Get on the property ladder with a first time buyer mortgage from Lloyds

Your morning coffee just met its match with the Club Lloyds perk-filled bank account

Lloyds Banking Group in talks to buy digital wallet provider Curve

David Lloyd Leisure owner TDR Capital close to finalising &#163;2bn 'sale'

Business News

Trump says Fed’s Powell is ready to start slashing interest rates

Louis Vuitton owner LVMH in talks to sell Marc Jacobs in deal that could fetch $1B: report

Sunny success at pub giant Mitchells & Butlers

ALEX BRUMMER: Banks face a fintech coup

Trump and Powell in Fed bust-up as tensions mount

ANNE ASHWORTH reveals the benefits of investing in UK firms

RAY MASSEY: New Aston Martin would leave Bond shaken and stirred!

Building products group Marshalls shares tumble as sales fall

Netflix is quietly searching for an exec to lead its video podcast efforts as it chases YouTube

Tea app that lets women post anonymous dating reviews was hit by a data breach that exposed 72K images

Microsoft employees react to CEO's 'enigma of success' memo with a mixture of suspicion, anger, and speculation

Are you a single mom? We want to hear from you about your challenges and life experiences

Corporate America's weird tariffs summer

Poker players call foul on Trump's tax and spending law

50 Timeless ‘80s Songs That Defined A Generation

UFC Abu Dhabi Fight Card: Odds, Prop Bets, Predictions And Picks

What We Know About David Ellison—Soon-To-Be Paramount Chief And Major Hollywood Honcho

New York Yankees Add 3B Ryan McMahon To Address Pressing Need

Coach X WNBA: A Stylish Play In The Brand’s Ongoing Reinvention

50 Essential ‘90s Songs Everyone Should Know

Mick Jagger And Keith Richards Get Rolling Stones Action Figures

Would Isak Signing Make Liverpool’s Transfer Window The Best Ever?

Mackage’s Latest “Protect Your Craft” Campaign Stars Dominik Livaković

Federal Judge Blocks Trump’s Birthright Citizenship Ban In Third Ruling Opposing President

Cenovus floated as potential competing bidder for hostile takeover target MEG Energy

Real-life ‘RoboCop’ makes debut in Shanghai — directing traffic at bustling intersection

Elon Musk hits back at Trump after president said he didn’t want to strip Tesla boss of subsidies

My parents sold their home of 40 years and retired to Colombia. I moved them back to the US when they both got sick.

ChatGPT can find and book an Airbnb for you now

Welcome aboard the 'AI crazy train'

OpenAI chairman says training your own AI model is a good way to 'destroy your capital'

'The Fantastic Four: First Steps' ending gives a tantalizing hint about 'Avengers: Doomsday'

Stephen Colbert, ‘South Park’ And The Return Of Political Comedy

Will Carter Hart Ever Play In The NHL Again

The Good, Bad And Ugly From Day 3 Of Packers’ Training Camp

Musician Zac Brown And Almost-Billionaire Kendra Scott Celebrate Engagement News—But He’s Still Fighting Ex-Wife In Court

Raiders’ Release Of Christian Wilkins May Conflict With Medical Autonomy Provided For In CBA

Claressa Shields Vs. Lani Daniels Fight Card Ring Walk Time

Alexandria Ocasio-Cortez Violated House Rules During Met Gala Appearance, Ethics Committee Says

Rewriting The Narrative Of Hurricane Katrina

Northern Lights Forecast: These 14 States Could See Aurora Borealis This Weekend

'People Are Dying': Oxfam America CEO Describes What She's Seen Abroad Since Trump Admin Cut USAID

Ghislaine Maxwell’s DOJ Testimony Ends—Lawyer Says She ‘Didn’t Hold Anything Back’

Alina Habba Staying On As U.S. Attorney Despite Judges Rejecting Her—Here’s How

The New World Food Prize Laureate Uses Microorganisms To Save Soils

Grand Slam Track In Trouble As Founder Michael Johnson Admits League Has ‘Major Cash Flow’ Issues

Rescue Dog Who Inspired Krypto In ‘Superman’ Sparks Heroic Impact On Shelter Adoptions

Is now the time to buy or sell a used car? As new sales dip, what to know

Project Veritas Withdraws Lawsuit Against The New York Times

Behind Trump’s War With Powell: A Battering Ram With 3 Million Followers

How Will David Ellison Tackle the Big Problems at Paramount?

Pura Scents recalling more than 850,000 diffuser covers as magnet issue may cause ingestion hazard

Goldman Sachs hungry for acquisitions — but not for the targets you think

Tesla lost out on billions of dollars by dumping Bitcoin at worst time

Venmo, PayPal users can now send money to the US government to help pay down $36.7T national debt

This humanoid robot can run, cartwheel and fist-fight – and it costs just $6K

Louis Vuitton faces money laundering probe after shopper drops $3.5M on luxury handbags

David Lloyd Leisure owner TDR Capital close to finalising £2bn 'sale'