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00:00Hello and welcome to the latest Business Bulletin on Monday the 7th of April.
00:04Globalization has come to an end. That's according to Chief Secretary to the Treasury Darren Jones.
00:09In the wake of Donald Trump's tariffs, he emphasized the importance of investing in
00:13the domestic economy. Sakhir Starmer, meanwhile, has pledged to help ensure homegrown firms can
00:19export British cars. Jaguar Land Rover said over the weekend they're pausing shipments to the US
00:24as they look to address the new trading terms. Auto businesses are grappling with Trump's new
00:2925% tariff on foreign cars imported into the US. Other sectors are facing a blanket 10% tariff,
00:36with Britain's economy reportedly set to take a £22 billion hit.
00:41Global markets have continued to tumble in response to Trump's new economic policy.
00:45Investors have thought the loss of trillions of dollars last week would make the president
00:50reconsider his plans, but he's doubled down and said investors will have to take their medicine.
00:54Goldman Sachs has raised the odds of an American recession to 45%.
00:59Back on the domestic front, the average UK house price fell by 0.5% in March.
01:04In cash terms, that's £1,575, according to Halifax.
01:09The annual rate of growth remained at 2.8%, which was unchanged from February.
01:14Across the UK, the average property price in March was £296,699.
01:21In M&A news, banknote printer De La Rue has announced the completion of conditions for
01:25the sale of its authentication division to a subsidiary of Crane NXT for £300 million.
01:31Completion is expected on May 1st.
01:34Discussions continue over a potential sale of De La Rue's currency division.
01:38And a project claiming to be the UK's largest installation of on-street electric vehicle
01:43chargers has been announced today. ChargePoint operator Charge East said it will fit more than
01:486,000 curbside chargers for Brighton and Hove City Council after securing a £130 million contract.
01:55That's all for today. More tomorrow.