Business news live: Stock markets set for volatility with end of Trump's tariff pause near
It's the latter which may well be the side focus of almost everything else this week, with higher volatility expected in stock markets, currency markets and potentially bond markets too as investors grapple with the possible outcomes and nations try to seal trade agreements with the biggest economy on the planet.
The UK will also get GDP estimates later this week, while all eyes will be on Nvidia to see if the chipmaker continues its upward trajectory to become the world's first $4tn public listed company, having hit new highs recently in its share price.
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Reuters
6 minutes ago
- Reuters
US consumers happier about finances, expect stable inflation, New York Fed says
NEW YORK, July 8 (Reuters) - Americans' outlook on inflation was little changed last month as households upgraded their views on the state of their finances and ability to get credit, according to a report released on Tuesday by the New York Federal Reserve. As of June, inflation one year from now was expected to be 3%, down from the expected 3.2% in May, while the outlooks at the three- and five-year-ahead horizons were unchanged at 3% and 2.6%, respectively, according to the latest New York Fed Survey of Consumer Expectations. Amid the calm outlook for future price increases, the survey found that respondents had "markedly" upgraded their assessment of their personal financial situation relative to last year, while noting credit had grown easier to access. Respondents also upgraded their expectations about the state of their financial situations a year from now. The survey found mixed expectations for future earnings and income in June, while the outlook for employment improved. Although the New York Fed found in its poll that the public's outlook for inflation was little changed last month, households projected in June an acceleration in year-ahead gains in the cost of gasoline, medical care, college and rent, while the expected rise in food costs held steady relative to May. Near-term inflation expectations recorded by the New York Fed have been volatile this year as President Donald Trump launched an aggressive trade war against many U.S. trading partners. The president's trade agenda, which features the imposition of high tariffs on imported goods, is widely expected to push up inflation and depress growth and hiring. Those import levies helped drive up near-term expected inflation, and as the president appears to have capitulated so far on the most draconian of his levies, worries about higher inflation have eased. Other surveys like the University of Michigan report on consumer sentiment have also shown reduced worries about future inflation. Meanwhile, long-term inflation expectations have remained mostly stable, which is good news for Fed officials, who believe that development suggests confidence that over the long run inflation will not be a major concern. Fed officials, however, are expecting higher inflation this year due to the tariffs, which they expect to wane starting next year. Fed officials penciled in two rate cuts for this year at their policy meeting last month but offered little guidance as to when that might happen. Some Fed officials were eyeing the July 29-30 policy meeting as a good time for a rate cut, but solid job market data for June appears to have taken that idea off the board. In comments after the June 17-18 meeting, Fed Chair Jerome Powell said "our obligation is to keep longer-term inflation expectations well-anchored and to prevent a one-time increase in the price level from becoming an ongoing inflation problem."
Telegraph
11 minutes ago
- Telegraph
WeightWatchers to focus on menopause after fat jabs cripple business
WeightWatchers is to launch a new menopause programme as appetite-suppressing fat jabs put pressure on its dieting business. The New York-headquartered company said it will support women through mid-life hormonal changes with a programme of tailored nutritional help and advice on lifestyle changes. The strategic shift comes after WeightWatchers filed for bankruptcy in May, allowing it to write off $1.15bn (£810m) in debt from its balance sheet. WeightWatchers said its expansion into women's health would 'address a broader gap in healthcare' adding it had been 'long underserved and overlooked by scientific and medical communities'. Tara Comonte, chief executive of WeightWatchers, labelled the transformation a 'pivotal moment' for the company. Dieting businesses like WeightWatchers are scrambling to adapt to the rapidly growing market for weight-loss drugs. Morgan Stanley has predicted that the market could hit $105bn (£81.3bn) by 2030. WeightWatchers suffered a blow in 2023 when long-time brand ambassador and board member Oprah Winfrey announced that she was using an unspecified weight loss medication in 2023. Ms Winfrey then left the company's board the following year. Last week, Wes Streeting, the health secretary, told LBC Radio that weight-loss drugs were the ' talk of the House of Commons tea rooms ' and claimed half of his colleagues were using them. Mr Streeting pledged to widen public access to weight-loss drugs, stating that they should be 'based on need and not the ability to pay'. Weight-loss jabs make users feel fuller for longer by slowing the speed at which their stomachs empty. This is a significant challenger for WeightWatchers, which markets a willpower-based alternative to shedding pounds. In a move to adapt, WeightWatchers announced in May that its UK subsidiary had partnered with CheqUp, a provider of weight-loss jabs. The company also redesigned its app to target people on weight-loss injections, offering food recommendations to minimise the side-effects of the jabs, such as nausea. WeightWatchers said its new women's health programme would support people through perimenopause, menopause and postmenopause. It added that it would provide nutritional guidance and specialised coaching for women at this stage in their life. Founded in 1963 by the American businesswoman Jean Nidetch, the company helps users monitor their diets by attributing scores to different foods. WeightWatchers also sells its own range of ready meals and low-calorie wines. It is not the only company facing challenges as a result of weight loss jabs. Glanbia, the owner of meal replacement company SlimFast, recently announced it would sell the business in February following a decline in sales.
The Sun
12 minutes ago
- The Sun
Audible review: the audiobook service is still worth it — get three months FREE this Prime Day
LET me get this out of the way: I've never liked audiobooks. I know it's not a modern mindset, but they feel too much like cheating to me; books should be books, not podcasts. However, since moving last year, my method of transport to work has switched from a train to a bus, and I've quickly discovered that reading a paperback on the 141 to London Bridge is no easy feat. So can Audible, the Amazon -owned audiobook service, change my mind on the idea of listening to books, and restore order to my morning commute? With a Prime Day deal that snags Prime members their first three months completely free, it's certainly a convenient solution. I've done an Audible review to find out. Pros: Cons: No biggies from me — it'd be nice to have a more widely available TV app, and some customers have complained about the customer service Rating: 9.5/10 How I tested Audible I'm a keen reader — I have been since I was a child, before doing an English Literature degree at uni. As an adult, I'm a card-carrying book-clubber and read every day. For this review, I downed my usual paperback and tried Audible for a couple of weeks to see if it offers a good, reasonably priced and easy-to-use service for book lovers. Audible review: Quickfire Q&A How does Audible work? You can use it without a membership, but the best way to use Audible is to pay for a Premium Plus Subscription, which awards you a credit every month to purchase an audiobook of your choice. How much is Audible? The Premium Plus subscription is £8.99 per month. You can get your first three months completely free if you're a Prime member, as part of a Prime Day deal. Who's it best for? People who love reading but don't have the time to sit down and read an actual book. If your life involves many long, solo car journeys, this is a no-brainer. What we loved: The number of titles available — over 800,000, apparently. The in-app experience is also extremely easy, and Amazon has worked hard to compile a bank of exclusive content for Audible members. What we didn't: I haven't had any negative issues so far. Some online reviewers have complained about the company's customer service, with several saying that it's almost impossible to speak to an actual human. How to cancel an Audible membership: You can cancel anytime by going to your account settings on the desktop site (as far as I can tell, it's not possible to cancel on the app). If you have unused credits, you'll lose these if you cancel, so it might be wiser to pause your membership. Audible review: The Nitty Gritty First impressions CLAIM HERE Getting set up with an Audible account is incredibly easy, especially if you've already got an Amazon account. Simply log in with your Amazon credentials, then activate your subscription. Audible generally runs attractive deals for new subscribers — at the moment, Prime members can get their first three months for free for Prime Day. You don't have to go down the subscription route — you can just purchase individual audiobooks — but the subscription bags you a free audiobook every month, while purchasing an individual audiobook can run you up to £20 or even more. So if you're going to be listening to a book every month or two, it's certainly the cheaper method. The subscription also grants you access to the Premium Plus catalogue, a library of thousands of audiobooks and podcasts, many of which are exclusive to Audible. Does it deliver? Prime Members get 3 months of Audible FREE for Prime Day In short, yes. Audible celebrates its 30th birthday this year, and it shows: there's a dizzying amount of content to be discovered. The official number is that there are over 800,000 titles, but in short, you'll find any book you might fancy. There's a regularly-updated list of bestsellers, which tends to comprise a mixture of self-improvement books, celebrity authors (Richard Osmen, Bob Mortimer and David Mitchell are stalwarts) and, somehow, still, the Harry Potter series. (I'm no hater, but The Philosopher's Stone came out nearly 30 years ago). Of course, there's also centuries' worth of classics to be discovered, with the 21st century-spin of being narrated by A-List actors: The Great Gatsby by Jake Gyllenhaal; Alice in Wonderland by Scarlett Johansson; The Wizard of Oz by Anne Hathaway. However, where Audible really comes into its own is its extensive library of exclusive content, which you won't find at any other provider. One of my first downloads, for instance, was an Audible-exclusive rendition of George Orwell's 1984 (one of my literary blind spots), narrated by a frankly astounding cast of actors: Andrew Garfield, Cynthia Erivo, Andrew Scott and Tom Hardy are the first four names on the list. There are six Oscar nominations between those four names! There's also a version of Pride and Prejudice coming out with a cast led by Harris Dickinson, Glenn Close and Bill Nighy, while bookworms will love Audible's exclusive version of the Sherlock Holmes collection narrated by Steven Fry. And there's a seemingly endless selection of exclusive thrillers that would be perfect for a low-effort holiday read. There's also a range of exclusive podcasts, including Alan Partridge's From The Oasthouse and French and Saunders Titting About. And it goes without saying that, after three decades and with a parent company as big as Amazon, Audible has got the app down — it's unfussy and simple, and I don't see even the least tech-savvy people having too many issues getting to grips with it. People who love listening to an audiobook on the road will also love the driving mode, which further simplifies the display and makes the buttons bigger to make it easier and safer to pause and play while on the go. My only small complaint is that there's no Audible TV app unless you have an Amazon TV or Fire Stick, which would have been handy for when I'm cooking or tidying the living room. How much is Audible? As I mentioned earlier, there are a few routes you can go down with Audible. Unless you're only planning on getting through a book or two a year, the best course of action is the Premium Plus Subscription, which costs £8.99 per month. Each month, you get a credit to use to buy an audiobook of your choice, meaning that, if you're getting through roughly a book per month, the £8.99 monthly cost is all you'll need to spend. That's more or less the same as buying a paperback every month — if not cheaper. If you're a real bookworm, then you can pay a smidgen extra — £14.99 — to get two credits per month, or you can make use of Audible's Premium Plus library, which contains loads of books that you can listen to completely free of charge. Audible alternatives Audible has been in the game so long that it has something of a monopoly over the audiobook industry. There are a couple, though, including Libro, Xigxag and although I haven't tried these services. Presumably, in an attempt to get a leg up on Audible, a couple of them run more attractive sign-up offers. If you have a subscription to Spotify or Apple Music, you can get some audiobooks through those, which can be helpful if you don't want to double up on subscriptions.
