China, America and pay inject drama into AstraZeneca’s AGM

The boss’s bonus is an annual debating point at Britain’s biggest company. But that’s not the only issue this yearAstraZeneca is used to facing protests over pay at its annual general meetings, given the position of its chief executive, Pascal Soriot, as the best-paid FTSE 100 chief executive for most of the past five years. But pay is not the only issue overshadowing this year’s virtual gathering on Friday.Britain’s biggest listed company, valued at about £170bn, faces investigations in China over import and data breaches, while it ran into controversy when it ditched the planned £450m expansion of its vaccine site in Speke, near Liverpool, in late January, after failing to hammer out a state support package with the UK government.On top of these problems comes the prospect – so far unrealised – of Donald Trump slapping tariffs on the pharmaceutical industry as part of his continuing attack on global trade practices

‘Fundamentally wrong, brutal and paranoid’: how will the world respond to Donald Trump’s tariffs?

On Thursday evening, towards the end of a long week at a textiles factory on the outskirts of Ho Chi Minh City, Nguyen Thi Dieu and her husband were watching the news. More than 8,700 miles away, US president Donald Trump was announcing sweeping, unprecedented tariffs on every country around the world. Nowhere was safe, even the uninhabited Heard Island and McDonald Islands off the western coast of Australia that, for some unexplained reason, were hit with a 10% tariff.His announcement launched a fierce global trade war and triggered a global market meltdown, including on Trump’s own cherished Wall Street, where hundreds of billions of dollars of stock values evaporated.And for Dieu and her husband, it could mean they lose their jobs

China needs friends in Trump’s trade war. But Xi may have to go it alone

Beijing has launched a charm offensive with other countries as US tariffs tighten. If they can’t be won over, it may have no choice but to stimulate its vast domestic marketChina’s leader, Xi Jinping, says he is prepared to dance if it means sidestepping some of the worst of Donald Trump’s trade tariffs. Last week he sent a letter to India’s president, Droupadi Murmu, urging her to join him in a tango to celebrate 75 years of ­bilateral trade.Xi said it was “the right choice” for the two countries to be “partners of mutual achievement and realise the ‘Dragon-Elephant Tango’”, which, he added, “fully serves the fundamental interests of both countries and their peoples.”Beijing is on a wide-ranging charm offensive, aimed at redirecting its exports away from the US to other willing destinations as Washington erects trade barriers

The fallout from Trump’s tariffs: is there a masterplan, are we heading for recession and what does it mean for UK?

The US president wants to revive the manufacturing sector with a mix of protectionist policies, tax cuts and deregulation. Higher tariffs on foreign imports are supposed to encourage investment by US companies and overseas businesses that want to avoid the tariffs.The cash generated by the tariffs will be the source of funds for tax cuts, unlike Trump’s first administration when tax cuts were funded, Liz Truss-style, by extra borrowing.Rightwing groups that bankrolled Trump in 2024 want him to bring down debts, insisting the president work harder to balance the books. That’s also the rationale behind cutting government staff numbers

Jaguar Land Rover pauses US shipments to assess impact of Trump’s tariffs

Jaguar Land Rover (JLR) will pause shipments of its UK-made cars to the US for a month as it considers how to mitigate the cost of Donald Trump’s tariffs.The 25% tariff imposed by the US on imported cars and light trucks took effect on 3 April.A JLR spokesperson said: “The USA is an important market for JLR’s luxury brands. As we work to address the new trading terms with our business partners, we are enacting our short-term actions including a shipment pause in April, as we develop our mid to longer-term plans.”JLR, which is owned by India’s Tata Motors, is one of Britain’s biggest producers, selling 400,000 Range Rover Sports, Defenders and other models annually

Rachel Reeves must break her fiscal rules. Better now than later | Phillip Inman

Critics of Rachel Reeves are enjoying another “told you so” moment. It was never realistic, they say, to formulate a budget plan with virtually no leeway to accommodate for unforeseen events.Less than £10bn of headroom on a budget of £1.2tn was asking for trouble. It is clear there are just too many events that could be put on a list of “known unknowns” for a UK chancellor to almost wilfully wish away their potential impact on the economy and the public finances