UK Jobs Wobble, Tariff Optimism Fades | CityCast Lunchbreak – Tue 13 May 2025

Markets held steady at midday, with the FTSE 100 up slightly despite lingering caution over US-China trade and signs of UK labour market weakness. While the 90-day tariff truce initially lifted sentiment, investors are now weighing the long-term impact, including persistently high duties and global demand headwinds.

In this episode: the UK unemployment rate climbs to a post-2021 high, wage growth softens, and vacancies hit a three-year low. Marks & Spencer is hit by a cyberattack, Marston’s cheers investors with improved profits, and Revolution Beauty struggles to stay afloat. Plus, we check in on Asian markets, the Bank of Japan’s rate pause signals, and how Goldman Sachs is shifting its Fed outlook.

CityCast Lunchbreak brings you London’s sharpest midday market update in just five minutes.

⏱️ Timestamps:

00:00 – Intro and FTSE midday snapshot: up 0.1%
00:30 – US-China truce details: 90-day tariff pause, limited optimism
01:15 – UK jobs report: Unemployment hits 4.5%, wage growth cools
02:00 – Business reaction: Hiring costs rising, NI impact, payroll declines
02:45 – Retail sales jump 7% in April on weather and Easter boost
03:15 – Corporate headlines:• Marks & Spencer cyberattack• Marston’s interim results beat• Revolution Beauty revenue drops, debt talks ongoing
04:00 – Asia markets: Japan rallies, Hong Kong falls, China upgraded
04:40 – BOJ policy outlook: Possible pause if US slows
05:10 – Currency and Wall Street preview:• Dollar weaker• US CPI ahead• Goldman pushes Fed cuts to December
05:40 – Closing remarks: Back later with full market wrap