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BIZBBC News

How is the US economy really doing under President Trump?

Photo: BBC

President Donald Trump has been boasting about the performance of the US economy ahead of the midterm congressional elections, claiming he has boosted incomes, reduced inflation and created jobs.

While the overall US economy is faring better than many expected after Trump launched his sweeping "Liberation Day" tariffs in 2025, there's evidence those import taxes and the impact of the US-Israel war with Iran have pushed up inflation, with the harmful effects felt by most American households.

The US economy is also being helped by an AI investment boom, and could falter if that spending were to dry up.

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BIZBBC News

Job vacancies fall as small firms cut back on recruitment

Job vacancies in the UK have seen their largest fall since the start of the year as smaller businesses cut back on recruitment, official figures indicate. Vacancies fell by 21,000 in the three months to September to 691,000, according to the Office for National Statistics (ONS), which said small firms were citing labour costs as a key factor in scaling back hiring. Energy costs have risen since the Iran war began, and companies have also said that increases in National Insurance and the minimum wage have made it more expensive to employ staff.

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Burnham vows end to 'rip-off parking charges' under new rules

Drivers will be given the right to challenge "rip-off" private parking charges and more grace when using private providers under new rules set out by Andy Burnham. The prime minister announced the changes after drivers repeatedly raised concerns penalties issued by private providers were too harsh and left motorists unfairly penalised. In one case, a woman was taken to court in a £1,906 claim after taking longer than five minutes to pay at a car park in Derby . The charge was eventually dropped .

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Chancellor rejects calls to raise Capital Gains Tax in Budget, sources say

Chancellor John Healey has dismissed calls from some Labour MPs to increase Capital Gains Tax (CGT). Cabinet ministers Wes Streeting and Louise Haigh both previously voiced support for raising CGT before Andy Burnham became prime minister in July. Ahead of next week's Budget, as first reported by the Times , external , Healey is minded not to increase CGT - which is imposed on the profit people make when they sell an asset that has increased in value, such as shares in a company or properties which are not primary residences.