China's April economic data missed expectations, with retail sales, industrial output, and investment growth slowing. Exports surged due to global stockpiling amid the Iran war, while imports also rose strongly. The US and China agreed to trade deals and investment boards.
UK businesses are halting investment and hiring due to the Iran war's economic fallout, rising costs, and political uncertainty. Surveys show companies prioritizing cost management over growth, with job vacancies falling. Some firms may shift production to the UK.
CNG prices in Delhi NCR increased for the second time in two days due to global crude oil prices and the Iran war's economic impact. PM Modi continues his European tour, focusing on trade and energy security.
Dip in credit card spending in April, particularly on travel, suggests Britons preparing for harder times amid Iran war falloutHouseholds cut back on their spending in April at the fastest pace in 16 months, as the conflict in the Middle East provoked fears of another cost of living crisis, a report from one of the UK’s biggest banks has suggested.Barclays, which processes nearly 40% of the UK’s credit and debit card transactions, said its data showed there had been a 0.1% fall in card spending last month compared with a year earlier. This was the first year-on-year fall since November 2024. Continue reading...
Dip in credit card spending in April, particularly on travel, suggests Britons preparing for harder times amid Iran war falloutHouseholds cut back on their spending in April at the fastest pace in 18 months, as the conflict in the Middle East provoked fears of another cost of living crisis, a report from one of the UK’s biggest banks has suggested.Barclays, which processes nearly 40% of the UK’s credit and debit card transactions, said its data showed there had been a 0.1% fall in card spending last month compared with a year earlier. This was the first year-on-year fall since November 2024. Continue reading...
Airport reports 5% decline but transit passenger business rises as fliers use hub to avoid Middle East airportsBusiness live – news updatesThe number of passengers flying from London Heathrow fell last month, as war in the Middle East weighed on demand for international travel.About 6.7 million people flew through the airport in April, a 5% drop compared with the same period last year. Continue reading...
Rolling coverage of the latest economic and financial newsThe oil price has jumped 4% this morning as hopes of a breakthrough in the US-Iran peace talks falter.Brent crude, the international benchmark, is rallying after president Donald Trump said on Sunday that Iran’s response to a US proposal was “unacceptable”.Both Trump and Iran rejected each other’s proposals to end the war. Iran refused to dismantle its nuclear program, which has been the key demand from Trump. The Strait of Hormuz remains practically closed. Trump does want a deal, but he needs to show to his supporters that US managed to secure a deal on nuclear, which was the whole point of going into the war. Continue reading...
Halifax says cost of typical home fell by 0.1% in April, the second consecutive monthly drop, with pace of annual growth down from 0.8%. to 0.4%Business news – live updates UK house prices fell for a second consecutive month in April, as Halifax halved its estimate for the annual rate of growth due to the conflict in the Middle East.Halifax, which is part of Lloyds – Britain’s biggest mortgage lender – said that the cost of a typical UK home fell by 0.1% in April, to £299,313. This followed a 0.5% fall in March. Continue reading...
Halifax says cost of typical home fell by 0.1% in April, the second consecutive monthly drop, with pace of annual growth down from 0.8%. to 0.4%Business news – live updates UK house prices fell for a second consecutive month in April, as Halifax halved its estimate for the annual rate of growth due to the conflict in the Middle East.Halifax, which is part of Lloyds – Britain’s biggest mortgage lender – said that the cost of a typical UK home fell by 0.1% in April, to £299,313. This followed a 0.5% fall in March. Continue reading...
Germany's fragile economic recovery in 2025 is reversing due to the war against Iran, which has driven up energy prices. Key indicators including GfK consumer sentiment, Services PMI, inflation and ZEW economic sentiment have all worsened significantly, reaching multi-year lows.
Shares in UK buy-to-let lenders Paragon and OSB Group fell 2.4% and 3.6% respectively on Tuesday after speculation that chancellor Rachel Reeves is considering a one-year rent freeze for private landlords in England to protect households from rising costs linked to the Middle East conflict. The education secretary later said the measure is not actively being pursued, while the Renters' Rights Act comes into force on Friday bringing significant sector changes.
China's top leadership has pledged a holistic approach to responding to external economic shocks and safeguarding energy security following a Politburo meeting. The Communist Party body, led by President Xi Jinping, committed to advancing water, power and computing infrastructure projects while accelerating major projects ready to break ground, as fallout from US-Israel conflict with Iran continues impacting the global economy.
In Cyprus, the bloc's leaders (minus Viktor Orbán) talk Middle East, security and the next big cash pot.
Merz’s government blames rising fuel costs and geopolitical shocks for renewed weakness, but economists say the coalition shares the blame.
The German government has officially halved its economic growth forecast for 2026, citing the severe impact of energy shocks stemming from the Iran war. This revision reflects a significant cooling for Europe's largest economy.
