UK private sector shrinks as export orders slump; state borrowing nearly £15bn above official forecast – business live

The UK’s private sector went into decline for the first time in 1 1/2 years, as new export orders fell at the fastest rate in almost five years, in a sign that trade wars are taking their toll on the British economy.Weaker demand from international markets weighed on business activity in both the manufacturing and service sectors, according to a closely watched survey.At 48.2 in April, down from 51.5 in March, the headline ‘flash’ reading from S&P Global was below the 50 mark (that separates expansion from contraction) for the first time since October 2023

UK annual borrowing exceeds forecasts by almost £15bn in blow to Rachel Reeves

Rachel Reeves could be forced to raise taxes or announce deeper cuts to public spending after figures revealed UK borrowing overshot official forecasts by almost £15bn in the last financial year.With the British economy coming under mounting strain amid Donald Trump’s escalating trade war, the Office for National Statistics (ONS) said borrowing in the financial year ending in March was £151.9bn, more than £20bn higher than in the previous financial year.After a larger-than-anticipated rise in borrowing in March, the figure was £14.6bn more than the Office for Budget Responsibility (OBR) had predicted less than a month ago in forecasts published alongside the chancellor’s spring statement

Meta ‘hastily’ changed moderation policy with little regard to impact, says oversight board

Mark Zuckerberg’s Meta announced sweeping content moderation changes “hastily” and with no indication it had considered the human rights impact, the social media company’s oversight board has said.The assessment of the changes came as the board also criticised the Facebook and Instagram owner for leaving up three posts containing anti-Muslim and anti-migrant content during riots in the UK last summer.The oversight board raised concerns about the company’s announcement in January that it was removing factcheckers in the US, reducing “censorship” on its platforms and recommending more political content.In its first official statement on the changes, the board – which issues binding decisions on removing Meta content – said the company had acted too quickly and should gauge the impact of its changes on human rights.“Meta’s January 7, 2025, policy and enforcement changes were announced hastily, in a departure from regular procedure, with no public information shared as to what, if any, prior human rights due diligence the company performed,” said the board

Elon Musk to pull back in Doge role starting May amid 71% dip in Tesla profits

The Tesla chief executive, Elon Musk, said he will start pulling back from his role at the so-called “department of government efficiency” starting in May. Musk’s remarks came as the company reported a massive dip in both profits and revenues in the first quarter of 2025 amid backlash against his role in the White House.On an investor call, Musk said the work necessary to get the government’s “financial house in order is mostly done”.“Starting probably next month, May, my time allocation to Doge will drop significantly,” he said.That said, he expects to spend one to two days a week continuing to do what he referred to as “critical work” at Doge “for as long as the president would like me to do so and as long as it is useful”

The Spin | Reborn in the USA: has cricket finally cracked the American market?

A lack of pitches, kit and coaching has held the sport back for far too long but Major League Cricket may be the answerIf you look south from the Manhattan end of Brooklyn Bridge, you can just about imagine the cricket field that used to be beneath what is now the South Seaport – and, if you squint, pretend that the people making their way around the bars and clubs and restaurants are the descendants of the same New York crowd who attended a match here between a local team and a London XI in 1751. Modern-day Manhattan is built on cricket pitches, among other things. They are there under the streets, among the farms and tenements cleared to make way for skyscrapers. There’s another under Central Park, a third below the NYU Langone medical centre, where – in 1844 – Canada beat the USA by 23 runs in what is considered the first international fixture in all sport.People have been dreaming of reviving American cricket ever since it died during the civil war, more than 160 years ago

Travis Hunter wants to be the NFL’s Shohei Ohtani. Will anyone let him?

The Colorado star is brilliant on offense and defense but the burdens of professional football make it very difficult for two-way players to succeedEvery once in a while, a player comes along who breaks our understanding of a sport. Basketball has Victor Wembanyama. Baseball has Shohei Ohtani. For professional football, enter Travis Hunter.There are good prospects, there are great prospects, and then there is whatever Hunter is