Here are 5 important things happening on Friday (24 April):
Bank of England deputy sends stock market warning
The Bank of England expects stock markets around the world to fall as share prices do not reflect the many risks facing the global economy, its deputy governor has told the BBC. Sarah Breeden said: “There’s a lot of risk out there and yet asset prices are at all-time highs. We expect there will be an adjustment at some point.” It is unusual for a senior figure at the Bank to be so forthright on market movements. Breeden, who is also the Bank’s head of financial stability, declined to say when she expected markets to fall or by how much, but pointed to a number of factors that markets seemed complacent about. [BBC]
Thousands call on UK ministers to cut ties with US tech giant Palantir
More than 200,000 people have called on ministers to break contracts with Palantir in an apparent groundswell of public concern about the US tech company’s role in the NHS, police, military and councils. Two petitions have attracted 229,000 signatures, one calling for the government to end all public contracts with the company, the software of which is used by Donald Trump’s ICE immigration enforcement programme and the Israeli military, and another urging the health secretary, Wes Streeting, to cancel its £330m patient data contract with the NHS. [Guardian]
Trump threatens ‘big tariff’ if UK does not drop digital services tax on US tech firms
Donald Trump has threatened to impose “a big tariff” on the UK if it does not drop its digital services tax on US social media companies. The tax, which was introduced in 2020, imposes a 2% levy on the revenues of a number of major tech firms. It targets companies whose worldwide revenues from digital activities exceed £500 million, with more than £25 million of the revenues from UK users. [Sky News]
Trump says King’s US visit could ‘absolutely’ repair UK relations
The US president has also indicated that next week’s state visit from King Charles and Queen Camilla could “absolutely” repair relations with the UK.Relations between the UK Prime Minister and the US president have been fractious in recent months, with the president branding Britain’s approach to the Iran war as “terrible” and repeatedly lashing out at Starmer – at one point describing him as “not Winston Churchill”. It comes after the UK prime minister repeatedly insisted that the UK will “not get dragged in” to the conflict in the Middle East, insisting that it is “not our war”. [The Independent]
Financial news
On Friday, Oil was trading higher at $105.53. The pound is trading at $1.35, €1.15, and ¥9.19.
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