OBR Warns UK Inflation Could Hit 3% Due to Oil Price Surge
The Office for Budget Responsibility warns UK inflation may reach 3% by year-end, driven by soaring oil and gas prices from the Iran conflict, threatening household energy bills.
The Office for Budget Responsibility warns UK inflation may reach 3% by year-end, driven by soaring oil and gas prices from the Iran conflict, threatening household energy bills.
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The Office for Budget Responsibility cautions that sustained high energy prices from the US-Israeli conflict with Iran could elevate UK inflation to 3%, impacting household costs and delaying interest rate cuts.
Shaniko, Oregon, a historic Wild West town with only 30 residents, is days from financial collapse. It must pay $37,000 in debts, including an urgent insurance bill, or risk disincorporation, forcing a sale of its historic City Hall.
The Office for Budget Responsibility warns that sustained high oil and gas prices from the Iran conflict could push UK inflation to 3% by year-end, undermining Chancellor Rachel Reeves's economic strategy.
A Sainsbury's store manager has been awarded nearly £12,000 in compensation after an employment tribunal ruled he was humiliated by being excluded from an International Men's Day social media post praising male leaders.
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The EU faces a nightmare scenario as the Iran war disrupts global oil flows, with fears of excessive fuel price rises prompting inspections and policy debates across member states.
Target reports its inventory loss, known as 'shrink,' has dropped to pre-pandemic levels, potentially signalling a reduction in the shoplifting crisis that has plagued retailers in recent years.
Ireland's Tanaiste Simon Harris says big differences in fuel prices cannot be blamed on Iran or Gulf tensions, urging public to report to consumer watchdog.
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The RMT union announces 12 days of strikes by London Underground drivers in spring, opposing four-day week plans over fatigue and safety concerns.
Chancellor Rachel Reeves warns that public money cannot solve soaring heating oil prices affecting 1.5 million UK homes, as she calls for CMA investigation into price gouging.
Forbes reports a record 3,428 billionaires in 2026, with wealth surging due to AI and tech valuations. Elon Musk leads with $839bn, sparking calls for wealth taxes.
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British holidaymakers face unexpected costs and disruptions as the Middle East conflict cancels flights and invalidates standard travel insurance, leaving many stranded abroad.
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RecommendedRMT union announces 24-hour strikes on London Underground in March, April, and May 2026, amid a dispute over plans to compress the working week into four days, raising safety and fatigue concerns.
An Iranian drone strike has forced the closure of Abu Dhabi's Ruwais refinery, one of the world's largest, causing oil prices to surge and raising fears of a global economic crisis as tensions escalate in the Middle East.
RMT union members will stage multiple 24-hour walkouts starting March 24, 2026, rejecting a compressed four-day week proposal due to safety and fatigue concerns.
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