Tuesday newspaper round-up: US Treasury Secretary, Profit warnings, Russia

(Sharecast News) - The US treasury secretary attempted to soothe Wall Street on Monday as President Trump rattled markets with a plan to impose 100 per cent tariffs on foreign-made films and a prominent investor said the US brand had been damaged. "It has never been a better time to invest in America," Scott Bessent told finance leaders gathered at the annual Milken Institute global conference in Beverly Hills, Los Angeles. - The Times Half of the profit warnings issued last month by UK-listed firms cited tariffs and the impact of global trade disruption. Analysis from accountancy giant EY shows there were 26 warnings in April, up from 21 in the same month last year. Of the 26, 13 cited tariffs. On average, the profit warnings - when companies disclose to investors that they expect profits to fall short of expectations - caused the affected company's share price to fall by 19 per cent on the day. In the first quarter of the year, 62 profit warnings were issued. - Financial Mail

Britain is secretly preparing for a direct military attack by Russia amid fears that it is not ready for war. Officials have been asked to update 20-year-old contingency plans that would put the country on a war footing after threats of attack by the Kremlin. A classified dossier will set out how the Government would respond to a declaration of war, including bunkers to protect the Cabinet and the Royal family, public service broadcasts and the stockpiling of resources. - Daily Telegraph

The aviation industry is "failing dramatically" in its efforts to tackle its role in the climate crisis, according to a newly formed group of aviation professionals. They say they are torn between their passion for flying and their concern for the planet and are calling for a fundamental transition of the industry, including controlling flight numbers. - Guardian