The second Trump presidency has started with mass firings, tariff threats, and budget negotiations, causing uncertainty among investors despite initial market confidence. Extension of tax cuts is expected, but the cost remains a concern, leading to discussions on potential spending cuts. The bond market remains calm amidst trade tensions, as Treasury Secretary Scott Bessent’s policies and cost-cutting efforts by Elon Musk’s DOGE initiative aim to shape the economic outlook and deficit reduction strategies.
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Trade-promoting UK departments face ‘up to 40%’ staff cuts, warn insiders
Roula Khalaf, Editor of the FT, selects favorite stories in this free weekly newsletter highlighting potential job cuts in UK government departments focused on attracting investment and promoting exports, despite promises to boost economic growth. Plans for headcount reductions and restructuring are underway, including merging the Office for Investment with the business department's investment directorate, aiming to strengthen regional investment propositions and improve trade performance post-Brexit. The British Chambers of Commerce expresses concerns about potential...
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