COVID 19 Articles

Federal Reserve Chair Kevin Warsh approved the first interest rate increase in three years while facing pressure from the Trump administration to cut rates instead, highlighting tensions in U.S. economic policymaking.

The UK’s air traffic control provider faces mounting criticism following two major system failures within a fortnight that caused thousands of flight cancellations and widespread travel disruption.

UK government borrowing surged to £18.3 billion in August, significantly exceeding forecasts and adding pressure on Chancellor John Healey before his first Budget later this year.

Liberal Democrat leader Ed Davey has pledged to cut taxes for millions of workers by raising the personal tax allowance to £15,000, funded through economic gains from rejoining the EU single market.

Ineos has paused production at three Hull chemical plants, with the company citing UK gas prices as 12 times higher than in the US, affecting approximately 240 direct employees.

President Trump said he would support halting US diesel exports to reduce pump prices, as national average diesel costs reached record highs ahead of mid-term elections.

The IMF head warns the UK and US must cut borrowing and reduce debt levels, as government interest costs have surged in response to global economic shocks and supply disruptions.

Europe’s struggling car manufacturers are pivoting toward defense contracts as commercial pressures mount, with Ford, Renault, and Jaguar Land Rover bidding for military vehicle and equipment orders.

UK lawmakers defend the independent Office for Budget Responsibility against criticism from across the political spectrum, rejecting calls for fundamental reform while suggesting consideration of a 10-year economic forecast.

Tech executives call for AI development slowdown, but critics warn it could entrench leading companies’ dominance and harm smaller competitors trying to catch up.

The OECD reports the global economy has proven more resilient to the Iran war than initially feared, though it warns future economic stability depends heavily on achieving a lasting Middle East resolution.