Global markets in turmoil as Trump tariffs wipe $2.5tn 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 $2.5tn (£1.9tn) 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

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

Blanket ban on teen smartphone use ‘potentially detrimental’, says academic

A leading academic tasked by the UK government with reviewing the effects of smartphones on teenagers has suggested blanket bans are “unrealistic and potentially detrimental”.Amy Orben, from the University of Cambridge, will lead the work on children and smartphone use that has been commissioned by the Department for Science, Innovation and Technology (DSIT) along with a team of other academics from a number of UK universities.Ministers have so far been resistant to implementing any new legal restrictions on social media and smartphones for children that goes further than the current Online Safety Act, which clamps down on harmful content.Some MPs have been pushing for further restrictions that go beyond harmful content – including on access to social media for those under 16, full bans on smartphones in schools or restrictions on social media algorithms that are able to train addictive content on young teenagers.In a paper Orben published this week with four co-authors in the British Medical Journal (BMJ), they said bans and restrictions were unlikely to be effective – though they did advocate for children and teens to have phone-free spaces

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

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