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The UK government plans to introduce an 'anti-profiteering framework' to prevent firms from raising prices unfairly during the Iran conflict. The Chancellor will also outline measures to diversify energy sources and support households as energy prices rise, following an emergency Cobra meeting.
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The UK government convened a COBRA meeting to address economic risks from the Middle East conflict, with Prime Minister Starmer and senior ministers discussing support measures. No specific packages announced yet, but contingency plans are underway as energy prices soar and geopolitical tensions escalate.
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UK's CPI inflation rose to 3.4% in December from 3.2% in November, driven by higher tobacco, airfares, and food prices. Experts see this as a temporary blip, with inflation expected to decline in 2026. The Bank of England is likely to hold interest rates steady in February.
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US inflation remains above the Federal Reserve's 2% target, with consumer prices rising 2.8% in November. Despite slowing job growth and a cooling labor market, consumer spending stays strong, and economic growth is healthy. The Fed is likely to hold interest rates steady next week.
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Recent affidavits reveal the FBI is investigating allegations of election improprieties in Fulton County, Georgia, linked to claims from the 2020 election. The investigation was initiated from a referral by Kurt Olsen, a Trump ally, based on long-debunked conspiracy theories. Experts say the evidence is weak and the claims have been repeatedly rejected by courts and officials. The story highlights ongoing efforts to challenge the 2020 results, despite widespread rejection of such claims.
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Rachel Reeves delivered the UK spring statement on March 3, 2026, amid escalating Middle East conflict. The forecast predicts slower growth and rising energy prices, but no new fiscal measures. Market reactions highlight uncertainty, with energy costs and geopolitical risks threatening economic stability.
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The conflict in the Middle East has caused oil prices to spike past $90 a barrel, the highest since 2024, driven by threats to supply routes and production halts. Markets fear prolonged disruption will fuel inflation, impact energy costs, and threaten economic stability globally, especially in the UK and Europe.
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Global central banks, including the Bank of England and Federal Reserve, are maintaining current interest rates as oil prices soar due to the Iran conflict. The war has disrupted energy supplies, raising inflation concerns and delaying rate cuts. UK GDP remains stagnant amid geopolitical tensions.
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Prime Minister Starmer faces key meetings amid escalating tensions over Iran and US military threats. Trump’s unpredictable actions and UK’s diplomatic efforts highlight global instability today, with decisions on energy and security looming.