UK Economy Grows 0.1% in May, Boosting Burnham
UK GDP grew 0.1% in May, beating expectations and giving Andy Burnham an early boost as he prepares to become PM. Experts warn of tough choices ahead on taxes and spending.
Category : Economy
Sky News Interrupted: UK GDP Grows 0.1% in May
Sky News halted its breakfast show to report UK GDP grew 0.1% in May, following a 0.1% contraction in April. Viewers criticized the government and broadcasters.
October Energy Bills Warning for UK Households
UK households are warned of another energy bill hike in October after the price cap rose 13% on July 1. Wholesale gas prices jumped 15% in a week due to Middle East conflict, with EDF forecasting a bigger-than-expected rise.
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China Q2 GDP Growth 4.3%, Weakest Since Covid
China's economy expanded 4.3% in Q2 2024, below the 4.5-5% target. Exports surged 27% in June, but domestic vehicle sales fell over 16%, highlighting reliance on foreign demand.
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Burnham faces dire economic news: oil price shock and rising rates
Andy Burnham will be warned by civil servants of a worsening economy, rising interest rates, and a potential oil price shock up to $150 a barrel due to the Iran-US conflict, threatening higher costs for households.
Jamie Redknapp 'very curious' as wife Frida spent months on business
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Iran Withdraws from MoU, Vows Full Control of Strait of Hormuz
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Reform UK Warns of £38bn Tax Hikes Under PM Burnham
Reform UK's Robert Jenrick warns Andy Burnham has no mandate for £38bn in tax rises, including a death tax and graduate tax, as the PM-elect prepares to enter Downing Street.
Soft US Inflation Helps FTSE Close Higher Despite Oil Surge
The FTSE 100 closed up 31.10 points at 10,529.39 as US consumer prices fell 0.4% in June, beating expectations and offsetting oil price jitters from Middle East tensions.
Reeves Disaster, Burnham's Pick Could Be Worse
Rachel Reeves' tenure as Chancellor saw Winter Fuel cuts, farm tax, and rising unemployment. Now Andy Burnham's choice of successor, possibly Ed Miliband, risks even higher taxes and economic turmoil.
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Oil Surge on US-Iran Conflict Raises Odds of Fourth RBA Rate Hike
Oil prices hit US$85 a barrel after US strikes on Iran, with economists warning continued conflict could push crude to US$100, increasing the likelihood of another RBA interest rate rise.
Oil price jumps as US-Iran clashes raise odds of rate rises
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Inflation cooled to 3.5% in June as a brief US-Iran ceasefire lowered energy prices, but recent strikes have pushed oil prices back up, with gas up 70 cents from last year.
CSIRO Report Contradicts Coalition on Net Zero and Power Prices
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BoE Chief: Low Growth a 'Big Issue' for UK
Bank of England Governor Andrew Bailey warns low economic growth is a critical structural issue for the UK, as Andy Burnham prepares to become prime minister. Bailey also cites Middle East tensions as a risk to financial stability.
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Warning: Petrol and Diesel Prices Set to Rise
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Abolish Inheritance Tax to Boost UK Economy, Says Javid
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Reeves: UK economy beat the odds due to my choices
Rachel Reeves will say Britain's economy has 'beaten the odds' under her stewardship, defending her record ahead of Andy Burnham's incoming government, warning the UK must maintain credibility.
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