Faisal Islam: Six Things We Now Know About the UK Economy in Charts
The UK economy posted a 0.6% quarterly GDP gain in Q1, outpacing its G7 peers and defying IMF warnings that the country would be the hardest‑hit by the Iran‑related war shock. Per‑capita growth was the strongest in four years, reflecting a rebound after the Ukraine‑driven energy crisis. Services, construction and a burgeoning AI‑tech sector lifted overall output, while machinery, equipment and house‑building lagged. Meanwhile, consumer confidence slipped as fuel and mortgage costs rose.
Business Daily
Hundreds of thousands of Argentines are crossing the Andes each year to shop in Chile, where a favorable exchange rate makes well‑known clothing and electronics brands markedly cheaper. President Javier Milei’s recent economic reforms have tamed inflation, giving many Argentines extra...
Trump's 'Irresponsible War' To Blame for Economic Slowdown, German Minister Says
German Finance Minister Lars Klingbeil blamed President Donald Trump’s “irresponsible war in Iran” for a sharp decline in Germany’s projected tax revenues, slashing the 2026‑2030 forecast by about €70 bn ($82 bn). He said the conflict created a global energy shock that...
Faisal Islam: The Wide Field of Uncertainties Facing the UK
The Bank of England signalled that rate cuts are off the table and a hike above 5% is likely if oil prices stay near the recent $125‑per‑barrel peak. Governor Andrew Bailey warned that volatile energy costs are pushing inflation higher...
The Briefing Room
The United States and Israel’s two‑month war with Iran has kept the Strait of Hormuz effectively shut, choking the route that moves roughly 20% of the world’s oil and LNG. Consequently, crude prices remain elevated, feeding inflation pressures across major...
What People in Power Think the Impact of the Iran War Will Be
World leaders gathered at the IMF/World Bank spring meetings to assess the fallout from the Iran‑U.S. conflict that shut the Strait of Hormuz. Finance ministers from the G7, G20 and major central banks voiced concern over energy shortages, rising food...
No Issues with UK Fuel Supply, Says Reeves
Chancellor Rachel Reeves told the BBC that the United Kingdom faces no immediate shortage of petrol, diesel or jet fuel, despite heightened global tensions following the US‑Israel war with Iran. Her comments came after the International Monetary Fund urged nations...
US War on Iran Was a 'Mistake', Says Reeves
Chancellor Rachel Reeves said the United States erred by ending diplomatic talks with Iran and moving to military action, urging a swift de‑escalation. She warned that the conflict could plunge the global economy into recession, with the IMF flagging the...
UK Energy Strategy 'Unsustainable' - Manufacturer
KGD managing director Ed Pitt warned that the UK’s energy strategy is unsustainable, noting his firm spends about £250,000 (≈ $317,500) annually on electricity and gas. The warning follows an IMF downgrade of UK growth to 0.8% as the Iran war...
Chris Mason: Iran War Means Government's Vicious Circles Tighten and Darken
The UK government is grappling with the economic fallout of the Iran war, which compounds already weak growth and forces a debate over rising defence spending. Chancellor Rachel Reeves expressed frustration over the conflict’s lack of a clear exit strategy,...
National Minimum Wage Rises This Week
The UK government announced a rise in the National Minimum Wage effective this week, lifting the rate for workers aged 23 and over to £10.42 per hour. The increase also adjusts rates for younger age brackets, with the 21‑22 bracket...
The Briefing Room
Donald Trump suggested the US‑Israel conflict with Iran could end soon, but analysts warn the war may linger, keeping oil markets on edge. Prolonged fighting threatens to disrupt the Strait of Hormuz, a critical chokepoint for global oil shipments, which...
US Inflation Stable Ahead of Iran Shock
US consumer price index held steady in February at a 2.4% year‑over‑year increase, matching the previous month. The pause came just before the US‑Israel conflict in Iran sparked a sharp jump in oil prices, pushing gasoline above $3.50 per gallon....
When Is the Spring Statement and What Might Be in It?
Chancellor Rachel Reeves will deliver the UK Spring Statement on 3 March 2026, presenting the latest Office for Budget Responsibility (OBR) economic forecasts. The OBR outlook on growth, inflation, unemployment and public finances will be published after the speech via the...
Who Are the Frontrunners for the Top Fed Job?
President Donald Trump is expected to nominate a successor to Federal Reserve Chair Jerome Powell in the coming weeks, amid heightened political pressure for lower borrowing costs. The shortlist includes Kevin Hassett, a Trump‑aligned economist; former governor Kevin Warsh, a...