The Bank of England cuts its key rate to 4%, the fifth reduction since August last year.

Changes to the Bank's base rate can affect mortgage and savings rates.

Rates are now at their lowest since March 2023 even though inflation is well above target.

The president also hit India with a 50% tariff and threatened a 100% levy on foreign-made computer chips.

Jingye still owns the Scunthorpe plant that was taken over by the government under emergency powers.