All news on the topic: Economy

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UK economy on brink as Iran blocks Strait of Hormuz and energy prices surge
Two reports from top accounting firms suggest the economy is on the brink as gas and oil prices surge following Tehran’s blockade on the Strait of Hormuz.
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The Conservative Party to prohibit councils from implementing a four-day work week
Councils will be prohibited from permitting staff to work four-day weeks on full pay if the Tories win the next election.
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How MMK executive Pavel Kravchenko built a network of shell companies while Russia’s Magnitogorsk Iron and Steel Works faced losses and layoffs
At the Magnitogorsk Iron and Steel Works in Chelyabinsk Oblast, troubling developments are underway: CEO Pavel Shilyaev has announced
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Rachel Reeves under fire as fears grow of looming global economic meltdown
The world is on the verge of a financial crisis. Someone should alert our oblivious Chancellor.
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UK households cut savings to a one-year low as higher taxes bite and spending keeps rising
British households saved less during the July-to-September period of this year as they felt the impact of higher taxes but continued to increase their spending, according to official data that confirmed a slowdown in the broader economy.
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Rachel Kyte’s £100,000 travel bill prompts scrutiny as climate official flies six times around the globe
Rachel Kyte has accumulated over 150,000 air miles in a year with trips to conferences such as COP30, Africa Energy Indaba Week in South Africa, and Clean Cooking Dialogue in Riyadh, at a cost of over £100,000.
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Rachel Reeves signals tough Budget choices, refuses to rule out tax rises
Chancellor Rachel Reeves has said she will make "necessary choices" in the Budget after the "world has thrown more challenges our way".
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London lawyers and accountants ‘targeted in new £2bn tax raid’ as Rachel Reeves prepares Budget
Rachel Reeves is reportedly preparing to launch a £2 billion tax raid on high-earning lawyers, family doctors, and accountants.
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Rachel Reeves eyes £2bn levy on professionals as debt hits £2.9 trillion
Rachel Reeves was planning another tax raid on the middle classes last night – despite warnings she needs to cut state spending to prevent the economy from ’spiraling out of control’.
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LR cyberattack causes £1.9bn hit to UK economy
The cyberattack on Jaguar Land Rover (JLR) is estimated to have been the most economically damaging hack in UK history and cost the country around £1.9 billion, according to a new report.
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Welsh Conservatives offer to back Labour budget if land transaction tax is scrapped
The Welsh Conservatives have suggested they will support a Labour budget if the devolved government backs its plans to scrap a tax paid by homebuyers.
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Jamaicans weigh economic benefits against corruption concerns at the ballot box
Jamaicans head to the polls on Wednesday for a closely fought general election which has been overshadowed by an investigation into potential corruption in the ruling Jamaica Labour Party (JLP) which is seeking a third term in office.
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RMT walkout shuts down tube services, costs economy £230m
To add to the confusion, the TFL website crashed as users searched for travel solutions. Hundreds of thousands of commuters reportedly attempted to access the site simultaneously, overwhelming its servers.
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Autumn of taxes: Britons face hikes over £50 billion budget gap
Brits are preparing for tax increases in the autumn after economic growth slowed in the spring, experts warned.
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Starmer defends economic plan as Reeves faces £51bn budget shortfall
Sir Keir Starmer has defended the Government’s stewardship of the economy amid warnings that taxes will need to rise in the autumn to plug a £51 billion black hole in the public finances.
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Rachel Reeves breaks down in Parliament: Starmer failed to guarantee her continued tenure as Chancellor
Rachel Reeves was moved to tears during Prime Minister’s Questions as Sir Keir Starmer did not assure her continued position as Chancellor.
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In the UK, the parental leave system is being overhauled: fathers may gain entitlement from their very first day of employment
Labour considers ways to make paternity leave and unpaid parental leave day-one employment rights
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UK reports rising espionage and interference from China but refuses to cut economic ties
China’s efforts to engage in espionage, destabilize, and disrupt the UK’s economy and democracy have increased, but Beijing remains a crucial economic partner for the United Kingdom, the government stated on Tuesday.
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Britain’s economy has shrunk — Reeves does not rule out another round of tax rises this autumn
Chancellor Rachel Reeves has not dismissed the possibility of future tax increases following the UK economy’s worst contraction in a year and a half in April.
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£18 not the limit: TfL plans annual increase of central London congestion charge
London’s congestion charge is set to increase from £15 to £18 next year under the plans announced today.
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UK and India sign historic £42.6 billion trade deal — tariffs cut, imports expanded
The UK and India have reached a trade agreement that will facilitate the export of whisky, cars, and other products from the UK to India, while reducing taxes on India’s clothing and footwear exports.
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Hundreds of protests against Trump and Musk sweep across US
After a week of unprecedented tariffs, stock market chaos and political upheaval, thousands of demonstrations are set to take place across the US today.
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UK MPs’ salaries to rise to £93,904 in 2025-26, sparking outrage among NHS workers and teachers
MPs are expected to see their salary rise to £93,904 following the rise. Last year MPs received a pay rise of 5.5%, lifting their annual salary to £91,346.
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Ex-owners of Veles Bank Kostyantyn Bondaryev, Iryna Honcharova and Oleksandr Kandyba win 105 million UAH lawsuit against the NBU
The Pechersk District Court of Kyiv upheld the lawsuit filed by the former shareholders of Veles Bank (Kostyantyn Bondaryev, Iryna Honcharova, Oleksandr Kandyba) and ruled to recover 105 million UAH from the NBU.
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Kyiv court orders NBU to pay 105 million UAH to former Veles Bank shareholders Kostyantyn Bondaryev, Iryna Honcharova and Oleksandr Kandyba
The Pechersk District Court of Kyiv upheld the lawsuit filed by the former shareholders of Veles Bank (Kostyantyn Bondaryev, Iryna Honcharova, Oleksandr Kandyba) and ruled to recover 105 million UAH from the NBU.
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