Good morning. European futures gain on optimism over a US pause to consumer tech tariffs. Euro-area inflation expectations dip slightly. And central London has lost 11,000 workers. Listen to the day’s top stories.
European stock futures rose after Donald Trump paused additional import duties on consumer electronics, though he later said the US will place those goods in a different “tariff bucket.” Check our markets wrap here.
Euro-area inflation will probably average 1.9% next year and 2% in 2027, according to a Bloomberg survey. Those slightly weaker forecasts support the case for the ECB to cut interest rates this week.
Mideast: The Israeli army bombed a Hamas command center located inside a northern Gaza hospital, a day after establishing a new corridor dividing Rafah from the rest of the Gaza Strip. Iran’s rial and stocks advanced yesterday following “constructive” US talks.
Ukraine said at least 34 people were killed and 117 injuredafter Russian missiles struck the city of Sumy early Sunday, marking the deadliest strike on the nation so far this year.
China’s exports rebounded 12.4% in dollar terms in March, ahead of the massive tariff hikes imposed against it by the US. Economists expected a 4.6% gain.
Deep Dive: Hollowing Out
London’s most desirable neighborhoods have lost 11,000 workers over the past two years.
Kensington and Chelsea, Westminster, Hammersmith & Fulham, Camden, the City of London, Islington and leafy Richmond all saw the number of employed residents drop in the period.
Those declines contrast with the majority of London’s 33 local authorities, where the number of payrolled employees has risen.
For some,changes in the high-end job market are dimming the appeal of London.
Cozying up to Reform UK won’t rescue the Tories, Rosa Prince writes. Instead of mimicking Nigel Farage’s populist policies, Kemi Badenoch should do what Conservatives do best: Offer a relentless attack on the economy, with a particular focus on taxation.
Rory McIlroy. Photographer: Richard Heathcote/Getty Images
It finally happened—Rory McIlroy won the Masters, becoming the sixth golfer to complete a career Grand Slam. He beat Justin Rose on the first hole of the sudden death playoff.
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