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Sean Dilley, Molly Stazicker, Esme Stallard & Mitchell LabiakBBC NewsPA MediaA second runway at Gatwick Airport has been backed by government, providing measures to reduce noise are put in place.Transport Secretary Heidi Alexander said she was “minded to approve” the expansion. Some MPs, local authorities and residents are strongly opposed.The airport wants to move its northern runway, which is currently only used for taxiing or as a back up, and make it operational by the end of the decade.The transport secretary’s support does not guarantee the expansion will go ahead as it would still need planning permission.If permission is granted,…

Bernd Debusmann JrBBC News, White HouseGetty ImagesDonald Trump held his first cabinet meeting at the White House on Wednesday, turning the occasion into an extended question-and-answer session that lasted for more than an hour.Speaking alongside his cabinet – and billionaire Elon Musk, who wore a “tech support” T-shirt – Trump covered a wide range of topics, from the so-called Department Department of Government Efficiency’s (Doge) efforts to cut government spending to immigration, the economy and the war in Ukraine.Here are six takeaways from the meeting.1. Trump praises Rubio and MuskTrump was asked by reporters which government department – and, by…

Eggs are displayed for sale in a Manhattan grocery store on Feb. 25, 2025 in New York City.Spencer Platt | Getty ImagesAn ominous measure that the Federal Reserve considers a near surefire recession signal again has reared its head in the bond market.The 10-year Treasury yield passed below that of the 3-month note in trading Wednesday. In market lingo, that’s known as an “inverted yield curve,” and it’s had a sterling prediction record over a 12- to 18-month timeframe for downturns going back decades.In fact, the New York Fed considers it such a reliable indicator that it offers monthly updates…

The 10-year Treasury note yield slipped on Wednesday as concerns over an escalating trade war and weak economic growth led traders to send bond prices higher.The benchmark 10-year yield Treasury yield fell 4 basis points at 4.256%. The 2-year Treasury yield was lower by 2 basis points at 4.074%.One basis point equals 0.01%, and yields and prices move in opposite directions.President Donald Trump’s rhetoric on the U.S.’ trade policy stoked worries across markets about economic growth. In his first cabinet meeting on Wednesday, Trump pledged that tariffs against Canada and Mexico, two of the U.S.’ three largest trading partners, will go into effect at…

Vcg | Visual China Group | Getty ImagesFor decades, multinational corporations operated under the belief that they could transcend national borders, access free markets, and serve a global customer base while remaining detached from geopolitical tensions. President Donald Trump’s return to the White House has shattered that notion.The foundational assumptions of corporate strategy — market access driven by consumer demand and regulatory compliance—are giving way to a world where political allegiance and “home country” dynamics determine success.This shift isn’t solely driven by Trump’s policies. Though his America First economic policy — marked by tariff threats, economic coercion, and protectionist measures…

A BNSF freight train with 76 container cars and FedEx freight trailers travels from Seattle to points east on August 23, 2021 in Livingston, Montana. (Photo by William Campbell/Getty Images)William Campbell | Getty Images News | Getty ImagesAccording to President Donald Trump, the sweeping U.S. tariffs on imports from Canada and Mexico are coming.The tariffs set to begin next week “will go forward” when a monthlong delay expires, Trump said Monday, and they will begin “on time, on schedule.”If the administration follows through, the impact on economies across the U.S. will be extensive, though it will vary greatly from state to state. Texas and California, which have…

Traders work on the floor of the New York Stock Exchange on Feb. 13, 2025Danielle DeVries | CNBCThe 10-year Treasury yield fell to its lowest level since December as more signs emerged that the economy may be slowing, leading traders to bid up fixed income prices.Benchmark 10-year Treasury yields moved down nearly 10 basis points to 4.294%, and the 2-year Treasury yield slipped more than 6 basis points to 4.098%. One basis point equals 0.01%, and yields and prices move inversely, meaning yields fall when prices rise.The Conference Board’s latest consumer confidence survey came in at 98.3 in February, short of economists’ consensus estimate of 103.0 and down…

Kevin PeacheyCost of living correspondent, BBC NewsGetty ImagesHouseholds are being encouraged to consider a fixed price deal on their energy bills by the regulator ahead of costs rising again in April.Ofgem is increasing the energy price cap by 6.4%, meaning a household using a typical amount of gas and electricity will see their bill rise by £111 a year, or £9.25 a month, to £1,849.The cap, which is set every three months and limits the amount suppliers can charge for each unit of energy, affects 22 million homes in England, Wales and Scotland.Ofgem said switching to a fixed tariff provided…

U.S. Treasury yields ticked down on Monday as investors looked to a busy week ahead, with a flurry of economic data due including a key inflation reading and insights on housing.The 10-year Treasury yield was nearly 2 basis points lower at 4.402%, and the 2-year Treasury yield slipped to 4.175%.One basis point is equal to 0.01%, and yields and prices move in opposite directions.Investors are expecting a packed week of economic data, including the S&P CoreLogic Case-Shiller National Home Price Index on Tuesday, which will measure the change in the average sale price of single-family homes across the U.S.Wednesday will bring the MBA 30-Year…

The Treasury Secretary of the Trump Administration, Scott Bessent, says the US has a strong currency policy, but that doesn’t mean that other countries have got to have a weak one. Though the outlook for getting fairer purchasing power parity for different currencies against the dollar may be improved by the US de-globalisation policy, it seems unlikely to happen in the immediate future in a meaningful way. However, Pakistan can also, apparently, draw some form of moral support for its policy to manage a relatively stable local currency from Mr Bessent’s observation regarding the ongoing tariff confusion due to lack…