Trump’s tariffs have been the hot topic in the papers this morning. The Telegraph, The Guardian, Bloomberg, The Standard, BBC and Sky News report on the US president’s warnings to the European Union – and the similarly “out of line” UK – over potentially tough levies. However, Trump suggested the UK could be “worked out”, in a softer line reported by Reuters.
The US president is also slapping tariffs on imports from China, Mexico and Canada, the FT writes, which could result in US consumers paying more for tomatoes, avocados and tequila. According to The Times, the US Federal Reserve could be forced to delay further interest rate cuts for 18 months as a result of the protectionist policies.
Closer to home, Sky reports on the downgrading of the UK growth outlook, in another blow to Chancellor Rachel Reeves.
Meanwhile, The FT looks at the impact of Diageo’s “sales hangover” on investors. The FTSE 100 spirits giant is under pressure to set a new course as investors grow weary of languishing sales amid wider falling demand for alcohol. The story is also covered by The Guardian, which asks how fortunes turned at the Johnnie Walker and Guinness owner.
GLP-1 drugs were the subject of another deep dive by The FT this weekend. The likes of Ozempic could curb the obesity crisis, it writes, but have they destroyed the joy of food?
Over at The Guardian, the mooted sale of WH Smith’s high street stores comes under the spotlight. It visits Stevenage, one of 500 UK towns where the threatened closures will affect local retailers and the publishing trade. The sale is also analysed by The Independent.
Finally, The Guardian reports on a rise in full-fat milk sales as the UK’s appetite for low-calorie options cools. Searches for the terms “full-fat milk” and “full-fat yoghurt” have soared on Waitrose’s website in the past month, up 417% and 233% respectively, it reveals, while “block butter” is up 280%.
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