UK economy grows faster than expected in February despite looming Iran war impact
The UK economy expanded by 0.5% in February, surpassing expectations, according to official data from the Office for National Statistics (ONS).This growth follows a revised figure for January, which showed a 0.1% increase, up from an initial estimate of no growth.These figures reflect economic activity before the outbreak of the US-Israeli war with Iran on 28 February.The conflict has since triggered a significant energy shock, raising concerns about its potential to disrupt global economic stability.The International Monetary Fund (IMF) has responded by lowering its growth forecast for the UK, identifying it as the most vulnerable among advanced economies to the... [Continue Reading]
360LiveNews | 16 Apr 2026 07:33 LONDON
UK Chancellor Rachel Reeves criticizes US war on Iran as a mistake destabilizing global economy
UK Chancellor Rachel Reeves has publicly criticized the United States' military conflict with Iran, describing it as a "mistake" that has destabilized the global economy.Speaking at the Invest in America forum in Washington DC, Reeves urged for de-escalation and highlighted the economic damage caused by the conflict.Reeves confirmed that the UK government will not participate in the US-led military blockade of the Strait of Hormuz, a key shipping route for oil and gas exports.She emphasized that while the UK and US maintain their "special relationship," disagreements over the conflict are permissible.The conflict has led to soaring energy prices and a... [Continue Reading]
360LiveNews | 15 Apr 2026 20:03 LONDON
US Treasury Secretary defends short-term economic pain for long-term security amid Iran war
US Treasury Secretary Scott Bessent has stated that the economic downturn caused by the ongoing US-Israel conflict with Iran is a necessary sacrifice to prevent the threat of Iranian nuclear strikes on Western capitals.Bessent emphasized that while the global economy faces challenges, the long-term security benefits outweigh the short-term economic costs.The International Monetary Fund (IMF) has warned that the war could push the global economy into recession, with global growth potentially falling below 2% in 2026 if oil, gas, and food prices spike and remain high.Despite these warnings, Bessent expressed confidence that the US and Israeli military actions have reduced... [Continue Reading]
360LiveNews | 14 Apr 2026 19:33 LONDON
