Global markets in turmoil as Trump tariffs wipe $2tn off Wall Street

Global financial markets have been plunged into turmoil as Donald Trump’s escalating trade war knocked trillions of dollars off the value of the world’s biggest companies and heightened fears of a US recession.As world leaders reacted to the US president’s “liberation day” tariff policies demolishing the international trading order, about $2tn (£1.5tn) was wiped off Wall Street and share prices in other financial centres across the globe.Experts said Trump’s sweeping border taxes of between 10% and 50% on the US’s traditional allies and enemies alike had dramatically added to the risk of a steep global downturn and a recession in the world’s biggest economy.World leaders from Brussels to Beijing rounded on Trump, with China condemning “unilateral bullying” practices and the EU saying it was drawing up countermeasures

Tata redundancy scheme targeted older, non-Indian nationals in UK, tribunal hears

A UK division of the Indian conglomerate Tata “deliberately orchestrated” a redundancy programme in a way that unfairly targeted older, non-Indian nationals, an employment tribunal has heard.Three claimants allege the Mumbai-based Tata Consultancy Services (TCS), which is valued at almost £110bn on the BSE stock exchange in Mumbai, discriminated against them on grounds of age and nationality during a restructuring that began in mid-2023.The case mirrors a similar claim brought in the US, where at least 22 workers have alleged that TCS sacked them at short notice and replaced many of them with workers from India on H1-B visas, used for hiring staff with specialist skills.TCS denies both claims. It is part of the Tata group of companies, which includes Tetley Tea and Jaguar Land Rover

Meta faces £1.8bn lawsuit over claims it inflamed violence in Ethiopia

Meta faces a $2.4bn (£1.8bn) lawsuit accusing the Facebook owner of inflaming violence in Ethiopia after the Kenyan high court said a legal case against the US tech group could go ahead.The case brought by two Ethiopian nationals calls on Facebook to alter its algorithm to stop promoting hateful material and incitement to violence, as well as hiring more content moderators in Africa. It is also seeking a $2

Don’t weaken online safety laws for UK-US trade deal, campaigners urge

Child safety campaigners have warned the government against watering down landmark online laws as part of a UK-US trade deal, describing the prospect of a compromise as an “appalling sellout” that would be rejected by voters.A draft transatlantic trade agreement contains commitments to review enforcement of the Online Safety Act, according to a report on Thursday, amid White House concerns the legislation poses a threat to free speech.The Molly Rose Foundation, a charity established by the family of Molly Russell, a British teenager who took her own life after viewing harmful online content, said it was “dismayed and appalled” at the prospect of the act being a bargaining chip in a deal.The MRF said it had written to the business secretary, Jonathan Reynolds, outlining its concerns and urging him “not to continue with an appalling sellout of children’s safety”.The commitment to review enforcement of the OSA and another tech-focused piece of legislation – the Digital Markets, Competition and Consumers Act – was reported by the online newsletter Playbook, which said the legislation would undergo a review of how it is implemented and not a “do-over”

Henman Hill to get shelter under fresh Wimbledon expansion plans

Different generations of tennis fans may disagree on its name – to traditionalists it will always be Henman Hill, millennials probably plump for Murray Mound and gen Z may know it as Raducanu Rise or even, regrettably, Jack’s Stack – but all ages can agree that bringing a little shelter to Wimbledon’s most famous viewing area can only be a good thing.Wimbledon’s Hill – which since 1997 has allowed tennis fans with a grounds pass to watch the action on No 1 Court live atop its grassy knoll – is getting a makeover, the All England Lawn and Tennis Club (AELTC) has announced.A multimillion-pound development, due to be finished in time for the 2027 championships, will boost the Hill’s capacity by 20% and improve accessibility for wheelchair users. Plans include a new pergola – and there is little Wimbledon likes more than a pergola – which will provide a space for more hanging plants to provide shade and protection from British summer rain.The pergola, which will replace the structure at the top of the Hill, will wrap around the area’s 150-year-old oak tree while the AELTC hopes to make the area more environmentally sustainable by replacing tarmac paths with permeable resin

ECB insists sale of Hundred teams will go through despite TV rights wrangle

The England and Wales Cricket Board insists that the sale of the eight Hundred franchises will be completed by the end of April, despite the delays to negotiations.The governing body’s chief executive, Richard Gould, said that the high valuations were not one of the issues behind the delays, but admitted that future broadcasting rights were. “All the discussions are on a very, very sound footing,” Gould said, “we’re just trying to work out how to maximise value from sponsorships, tickets sales and broadcast revenues. They’re investing a lot of money into our game and we want to make sure that pays dividends.”One sticking point is the issue of overseas TV rights