Trump says he is hitting EU with 50% tariff as trade talks are ‘going nowhere’

President says EU imports to US will be subject to levy from 1 June as markets slump in reaction to ‘major escalation’

The Guardian view on billionaire Britain: tax wealth fairly or face democratic unravelling

Editorial: Without bold reform which makes the rich pull their weight, rising inequality risks eroding public trust and fracturing social stability

‘Ludicrous and unfair’: older workers react to pressure to delay retirement

IMF is urging countries globally to act to ease stress on public finances, sparking mainly outrage but also support

UK private sector shrinking as firms cut jobs; pressure to raise taxes as government borrowing jumps – as it happened

Rolling coverage of the latest economic and financial news

UK employers: how might your business be affected by plans to reduce migration to Britain?

We’d like to hear from UK employers how tightened visa rules may affect their business, and why they have been recruiting from abroad instead of from the UK

Jump in UK borrowing shows Rachel Reeves needs to relax her strict budget rules

As pressure grows on chancellor to rethink constraints she imposed on herself, No 10 adds to her problems

UK borrowing rises to £20.2bn, putting pressure on Rachel Reeves

April figure more than expected and comes despite increase in employer national insurance contributions

UK inflation jumps to 3.5% in April on higher energy, water, road tax and air fare prices – as it happened

‘Awful April’ inflation surge casts doubt on summer rate cut as water bills rise most since 1988; chancellor ‘disappointed’ by cost of living pressures as she heads to G7 summit

Bigger than expected inflation jump worsens Bank of England dilemma

Bank torn between calls to cut interest rates to boost growth and need to damp down price rises

Cutting mental health waiting times ‘could save UK £1bn a year’

Faster treatment via NHS in England would improve health and help people keep jobs, research finds

UK inflation jumps higher than expected to 3.5% amid bills increase

Annual rise last month driven by higher payments for gas, electricity, water and transport in ‘awful April’

Brexit food control post at Portsmouth ‘may have to be demolished’, says port director

Exclusive: £25m hi-tech facility at terminal had been called ‘white elephant’ even before latest EU deal scrapping some health and veterinary checks

Reeves eyes Gulf trade pact as ‘next deal,’ Bank of England’s Pill says pace of interest rate cuts ‘too rapid’ – as it happened

China and Australia cut interest rates; Shell faces protests calling for clean-up in Niger Delta

Pace of UK interest rate cuts is too rapid, Bank of England chief economist says

Huw Pill says rate cuts could fuel inflation resurgence and urges colleagues to be cautious before making further cuts

Reeves hopes hat-trick of deals shows Britain is open for business

Impact of agreements on food, energy and defence may not be huge but chancellor believes it will draw investors to UK