Iran Warns of $200 Oil as Gulf Attacks Disrupt Supplies
Iran's military warns the world to prepare for oil at $200 per barrel as attacks on ships in the Gulf continue, causing the worst energy supply disruption since the 1970s.
Category : Economy
Starbucks Founder Schultz Retires to Florida as Tax Bill Passes
Howard Schultz announces retirement move to Florida on same day Washington Democrats pass millionaires tax bill. Starbucks founder praises Seattle but shifts operations to tax-friendly Tennessee.
Reeves Admits 'Valid Argument' Against National Insurance Hike
Chancellor Rachel Reeves concedes there's a 'valid argument' against her national insurance increase amid rising youth unemployment, but defends it as necessary for NHS funding.
Reeves Warns Petrol Stations Over Price Gouging Amid Crisis
Chancellor Rachel Reeves issues stern warning to UK petrol retailers, vowing action against price exploitation as fuel costs surge following Middle East tensions.
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Elon Musk's Simple Life Revealed as Wealth Hits $839 Billion
Maye Musk shares details of her son's minimalist lifestyle, including a bare fridge and single towel, as Forbes releases its 2026 billionaires list showing his staggering wealth.
Reeves: Middle East Conflict 'Not Good' for UK Economy
Chancellor Rachel Reeves admits Middle East trade disruption harms the British economy, indicating potential government intervention on energy costs if the conflict escalates further.
Reeves: Iran War Trade Disruption Bad for UK Economy
Chancellor Rachel Reeves warns trade disruption from the Iran conflict is damaging to the British economy, urging rapid de-escalation and collaboration with allies to stabilise oil and gas supplies.
Oil Price Drop: Impact on UK Household Finances Explained
Brent crude oil prices have fallen to $90 despite ongoing Middle East tensions, but remain 29% higher than pre-conflict levels. This volatility affects petrol, energy bills, inflation, mortgages, and savings across the UK economy.
BoE May Hike Rates as Iran War Sparks Inflation Concerns
The escalating Iran-US conflict has sent oil prices soaring, threatening to reignite inflation and potentially force the Bank of England to reverse its recent rate-cutting trajectory.
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Food Bank Parcels Fall 12% Amid Inflation Fears
New data reveals 2.6 million emergency food parcels were distributed last year, a 12% decrease from 2024. However, experts warn the Middle East conflict could reverse this trend by driving inflation higher.
State Tax Refund Delays Hit Millions Across Five Regions
Millions of Americans face extended waits for state tax refunds due to staffing shortages, software glitches, and legislative changes in Idaho, New York, Oregon, South Carolina, and Washington, D.C.
HMRC to Instruct Pension Providers for Tax Refunds
HMRC clarifies tax refund process for retirees, advising contact after retirement for overpaid tax recovery via pension payments, alongside state pension age and triple lock updates.
Pensioners Losing £4,300 Due to Common Mistakes
A new report reveals pensioners are missing out on over £4,000 annually in Pension Credit due to misconceptions about eligibility, lack of awareness, and stigma around claiming benefits.
HMRC: 1 Million Brits May Miss £453 Tax Refunds
HM Revenue & Customs alerts taxpayers that up to one million people are owed unclaimed tax rebates averaging £453 each, with fraudsters exploiting the situation.
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Petrol Price Surge to Drive Inflation and RBA Rate Rise
Australians face a dual financial blow as rising petrol prices push inflation higher, leading economists to predict an RBA interest rate hike to 4.1% next week amid global energy market turmoil.
Spender's Tax Blueprint: Cut Worker Taxes, Raise Capital Taxes
Independent MP Allegra Spender calls for tax reform to address intergenerational inequity, proposing lower taxes on wages and higher taxes on capital gains and assets.
Australian Economy Hit by Fuel Price Crisis from Middle East War
Soaring fuel prices due to Middle East conflict threaten every sector of Australia's economy, with warnings of inflationary impacts on groceries and supply chain disruptions.
Wealthy Australians Hit with Higher Super Taxes After Greens Backdown
Australians with over $3 million in superannuation will see tax rates double to 30% from July 1 after the Greens supported Labor's controversial bill, ending a three-year deadlock.
Forbes Billionaires List: Beyoncé, Dr. Dre, Cameron Join
Forbes's latest billionaires list reveals 390 new entrants, including pop icon Beyoncé, hip-hop legend Dr. Dre, and director James Cameron, with the US leading in new billionaires.
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Reeyes Eyes Higher Mileage Rates for Work Drivers
Chancellor Rachel Reeves has announced she is considering increasing the Approved Mileage Allowance Payment rates, which have remained unchanged since 2011, to reflect rising motoring costs for workers using their cars for employment.
Iran-US War Could Spike UK Energy, Petrol, and Food Costs
The escalating Iran-US conflict is poised to drive up UK living costs, with energy bills, petrol prices, and groceries expected to surge due to disruptions in global oil and gas trade through the Strait of Hormuz.
Middle East War May Drive UK Inflation to 3%, OBR Warns
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.
Iran War May Drive UK Inflation to 3%, OBR Warns
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.
Billionaire Wealth Soars to Record Levels in 2026
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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Iran Drone Attack Closes UAE Oil Refinery, Economic Crisis Fears
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.
Reeves Defends Fuel Duty Rise as Oil Prices Soar
Chancellor Rachel Reeves maintains plans for a 5p fuel duty increase despite pump prices surging due to Middle East tensions, while Reform UK offers discounts.
Oil Price Surge Could Cancel Out Trump Tax Cut Gains for Americans
Analysts warn that rising energy costs following the Iran conflict may erase most of the economic boost from Trump's tax cuts, with households facing billions in extra gasoline expenses.
Rejects Public Funds for Heating Oil Price Relief
Chancellor Rachel Reeves declares using taxpayer money to address soaring heating oil prices is not the solution, focusing instead on market regulation and supply issues.
State Pensioners Exempt from New Cash ISA Rule Changes
Chancellor Rachel Reeves announces cash ISA limit cut from £20,000 to £12,000 for under-65s from April 2027, with state pensioners born before 1962 retaining higher allowance.
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Oil Prices Hit Four-Year High After US-Israeli Iran Strikes
US and Israeli bombing of Iran has triggered a surge in oil prices, reaching a four-year peak, intensifying global inflation pressures and posing economic challenges for governments worldwide.
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