Affected by Trump's tariffs, business confidence in the United Kingdom has dropped to its lowest level in three months.

The two industry surveys released on Wednesday revealed that business confidence in the United Kingdom has dropped to its lowest level in three months, as employers are worried about the impact of USA tariffs and the overall economy while struggling with higher employment costs. The Lloyds Banking Business Barometer, which measures business confidence, fell by 10 percentage points in April to 39%, marking the lowest level since January, although it remains above the long-term average of 29%. The economic optimism index of the survey decreased by 13 points to 28%.

Global market report20:36 ET

U.K. Domestic Banks Results to Reflect Resilience of Economy -- Sector Preview

WSJApr 29 10:10 ET

HSBC, Lloyds, NatWest, Santander Chiefs Call For Removal of UK's Ring-fencing Regime

MT NewswiresApr 27 07:06 ET

The CEOs of the four major Banks in the United Kingdom have written to the Chancellor of the Exchequer, requesting the cancellation of the "ring-fencing" policy.

Sky News UK reported on Saturday that the CEOs of HSBC Holdings, Lloyds Banking Group, the National Westminster Group, and Banco Santander's UK branch recently co-signed a letter to the United Kingdom's Chancellor of the Exchequer, Rachel Reeves, requesting the removal of the 'ring-fencing' policy targeting the banking industry. In a letter to Reeves this week, these CEOs stated that the 'ring-fencing' policy, which separates Consumer lending from the more volatile investment banking business, 'not only hampers the banks' ability to support businesses and the economy but is now redundant.'

Global Market NewsApr 26 05:22 ET

Earnings Preview: LYG to Report Financial Results Pre-market on May 01

Moomoo NewsApr 25 21:00 ET

Express News | Shares of Banking Companies Are Trading Higher Amid Treasury Secretary Scott Bessent's Remarks About Trade De-escalation With China

BenzingaApr 22 15:46 ET