US copper price hits record high after Donald Trump threatens 50% tariff; more trade letters expected today – business live

Rolling coverage of the latest economic and financial newsTrump threatens to escalate trade war amid confusion over new tariff ratesShares in advertising giant WPP have slumped by 13%, after it slashed its forecast for revenues and profits this year and blamed a “challenging economic backdrop”.WPP warned that “continued macro uncertainty” was weighing on client spend and leading to weaker net new business than originally anticipated.“Since the start of the year, we have faced a challenging trading environment with macro pressures intensifying and lower net new business. While we expected the second quarter to be similar to the first quarter, performance in June was worse than anticipated and we expect this pattern of trading in the first half to continue into the second half.“As a result, we are updating our guidance for the full year and reducing our expectations on LFL revenue less pass-through costs growth to -3% to -5% (from flat to -2%) with a year-on-year decline in headline operating profit margin of 50 to 175 bps (vs. around flat previously). Continue reading...

Comments

Business News

High time to end the EV myths putting drivers off the switch to clean transport

Evening Standard

Comments

Similar News

Summer School 1: A government's role in the economy is to make us all richer

Southeast Asian foreign ministers meet as US tariffs loom

Travelers no longer required to take off shoes for security at US airports

Why EU capitals are irate at German car swap scheme to swerve US tariffs

FirstFT: EU to face higher US tariffs than UK

A US Army vet thought he'd work into his 70s. A move to South Korea gave him the freedom to retire in his 50s.

Talks to finalise US steel tariff exemption ongoing as deadline due to pass

Talks to finalise US steel tariff exemption ongoing as deadline due to pass

Travelers won't have to take their shoes off at security in US airports

The US Army is saying goodbye to most of its horses. Here's why that might not be a bad thing.

‘The Last Of Us Part II’ Just Got A Huge Update That Completely Changes How The Game Is Played

Trump announces US will resume sending weapons to Ukraine

US will hike tariffs on copper to 50%, Trump says

Investors snap up growing share of US homes as traditional buyers struggle to afford one

Trump administration looks to ban Chinese groups from buying US farmland

London stocks close higher as latest US tariff rates received

London stocks close higher as latest US tariff rates received

Fifa opens office in Trump Tower, deepening ties with US president

‘Now Brexit is behind us’: what’s at stake as Macron makes state visit to the UK?

Rivian's CEO speaks about Trump's Big Beautiful Bill and where the real challenges are for electrifying the US

Business News

High time to end the EV myths putting drivers off the switch to clean transport

Soaring coffee bean prices may have peaked, says Lavazza

Soaring coffee bean prices may have peaked, says Lavazza

Merck spends $10 billion for Verona, gaining access to its COPD medication

Ohio awards $310 million to US defense contractor for 4,000-worker advanced manufacturing facility

Trump's previous tariff push terrified the world economy. He's betting this time is different

Elon Musk’s AI chatbot Grok praises Hitler, spews vile antisemitic hate on X: ‘Truth hurts more than floods’

Luxury retailer Nordstrom closing stores in two states by end of August

Building societies see jump in cash Isa applications amid speculation over limit

John Lewis beats M&S and Ocado to be top of the shops for customer satisfaction

Major bank fined £21m after allowing customers to register from Buckingham Palace and Downing Street

UK workforce exposed if global trade war intensifies, Bank warns

Jet2 sales soar amid strong demand for last-minute getaways

Thames Water bosses recalled before MPs to face grilling on bonuses and rescue

Committee urges action from Scottish and UK governments to save Alexander Dennis

Government told to fully fund teacher pay rise to prevent school provision cuts

Committee urges action from Scottish and UK governments to save Alexander Dennis

Government told to fully fund teacher pay rise to prevent school provision cuts

UK workforce exposed if global trade war intensifies, Bank warns

Thames Water bosses recalled before MPs to face grilling on bonuses and rescue

Jet2 sales soar amid strong demand for last-minute getaways

Beware of scams that promise good pay for completing easy online tasks

Rescuers search for survivors after Houthi attack on cargo ship in the Red Sea

Trump's trade blitz produces few deals but lots of uncertainty

California farmers say Medicaid recipients, automation can't replace their immigrant workers

How to spot a get-rich-quick scam on social media

WPP alerts over profits after worsening trading

WPP alerts over profits after worsening trading

Talks to finalise US steel tariff exemption ongoing as deadline due to pass

The hunt for the £31 billion "lost" pensions that could help unlock growth

The Career Reset: Time to get more from your working life

Business news live: Housebuilders pay £100m after investigation and copper hits record price on tariff threat

Rachel Reeves under pressure to save cash ISAs after building societies pen open letter to chancellor

Housebuilders vow to pay £100m after probe into information-sharing

Housebuilders agree to £100m affordable housing payment after CMA probe

Housebuilders vow to pay £100m after probe into information-sharing

FTSE 100 Live 09 July: WPP profit warning, builders to pay £100m after CMA probe

WPP warns of lower profits as clients slash ad spend in "deteriorating" market

Millie Mackintosh shares her makeup hack to get a ‘10 second facelift’

Rihanna and Kim Kardashian swear by £24 hair spray that promises 'perfect hair' every time

Amazon Prime Day takes £108 off gadget that delivers 'perfect frothed coffee'

Drivers told 'do not wash your car' within days as summer warning is issued

The children sitting on six-figure Junior Isas - and how to grow a nest egg for your offspring

Should you share finances with your partner? Nearly half won't even TALK about money until they live together

Newcastle Building Society opens new giant super branch

China imposes export ban on companies tied to Taiwan’s military

Southeast Asian foreign ministers meet as US tariffs loom

Shares in Asia are mixed amid Trump's new tariff deadlines

Sam Altman rolled up to Sun Valley to some burning questions on Zuckerberg, Musk, and Trump

Ayesha Curry lays out her wellness routine &mdash; including a bathroom Instagram scroll to escape her 4 kids

India Box Office: ‘Metro In Dino’ Lags Behind ‘Jurassic World Rebirth’

Huge Amazon Prime Day sale slashes Coco & Eve's 'best tanner on the market' by 30%

Florida made it much harder for highly-paid workers to swap jobs, thanks to Ken Griffin

An Asia hotel mogul has run a luxury chain for decades. He says hospitality is the worst industry to be in.

Elon Musk's Grok AI chatbot goes on an antisemitic rant

A US Army vet thought he'd work into his 70s. A move to South Korea gave him the freedom to retire in his 50s.

Mary Lou Retton’s DUI Arrest Captured In Newly Released Bodycam Footage

Ayesha Curry lays out her wellness routine — including a bathroom Instagram scroll to escape her 4 kids