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The Latest Breaking News from Economy

‘Dr. Doom’ Nouriel Roubini warns that ‘contagion’ from U.S. banks could spread globally

“A banking crisis can morph into a debt crisis for the sovereign, in a doom loop between the banks,” Roubini told Fortune in November.

Fortune

UK economy will take more than a year to recover to pre-Covid level, says OBR

Jeremy Hunt’s efforts to boost growth unlikely to prevent largest fall in living standards on record

The Guardian - UK

Government to spend nearly £1bn on new supercomputer to help AI research

The UK could be a "world-leading quantum-enabled economy" if a strategy is realised, according to Chancellor Jeremy Hunt

Wales Online

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Tories give wealthy 'permanent tax cut' while taking away £67-a-month from struggling households

Chancellor Jeremy Hunt also promised a 'callous' clamp down on benefits claimants

Daily Record

‘No mention of the South West’ - business leaders react to the Budget

Bosses across the region have described its absence from a list of 12 new investment zones as ‘disappointing’ and ‘a blow’

Birmingham Post

BTS Absence Hurting Global K-Pop Growth, Says HYBE Chairman

Making megastars BTS do their South Korean military service is slowing the global growth of K-pop, the chairman of the septet's agency HYBE said Wednesday. The boyband are widely considered South Korea's biggest-ever cultural phenomenon, selling out stadiums around the world and dominating the charts while raking in billions for…

Asharq Al-Awsat

Chancellor’s spring Budget ‘is going to impede growth’, DUP claims

Sammy Wilson raised concerns over personal income tax.

The Independent UK

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Budget 2023: Scottish businesses react

FSB says firms 'short changed' while tourism sector reaction is mixed

Insider UK

Silicon Valley Bank: 19th-century financial crises show how today's regulators could help repair the economy

A bank failure wipes out the money available to its customers and freezes any capital that’s already in circulation. Depositors, borrowers and owners or shareholders all suffer as a result, as does wider economic activity and often the communities or business sectors that the banks serves.

The Conversation

UK to avoid recession but see living standards 'drop to levels not seen since 1950s'

The UK economy is set to avoid a recession but people are still expected to face the biggest fall in living standards on record, according to the…

The National (Scotland)

No recession, but Brits are still facing biggest ever fall in living standards

Things are looking better than thought, but it's still not rosy

Wales Online

'Like all schemers, chisellers and scammers, Jeremy Hunt flattered to deceive'

To listen to the Chancellor you would be forgiven for thinking the Tories had successfully managed the economy for the last 13 years

Daily Mirror

Spring budget 2023: experts react to UK government's plan to get the economy moving

Jeremy Hunt’s 2023 spring budget covers employment, energy, enterprise and much more besides. The plan has already been dubbed his “back to work budget”, although he has called it a “budget for growth”.

The Conversation

All Jeremy Hunt's Budget announcements at a glance - with all the nasty details

Tory Chancellor Jeremy Hunt unveiled his 2023 Budget with boosts for childcare, energy bills and a freeze on fuel duty. But the small print reveals Brits will see the biggest two-year decline in living standards since the 1950s. Here's what you need to know.

Daily Mirror

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Al Jazeera

UK unveils budget plans as thousands of workers stage strikes

Finance minister Jeremy Hunt unveils measures aimed at boosting workforce as strikers demand better wages, conditions.

The Guardian - UK

Budget 2023: will it lift Britain’s economic gloom? Our panel give their verdict

Jeremy Hunt has announced reforms to childcare, pensions and disability benefits. What do they mean for the economy?

IT Pro

2023 Spring Statement brings 'enhanced' tax incentives to tech SMBs

UK chancellor Jeremy Hunt said the government plans to introduce tax incentives for UK-based small and medium-sized businesses (SMBs) as part of a broader set of plans to boost the UK's technology sector. Delivering the government's 2023 Spring Statement to the House of Commons on Wednesday, Hunt said the incentives…

Daily Mirror

UK will STILL see biggest fall in living standards since 1950s after Budget, OBR says

The forecast came as the Chancellor Jeremy Hunt unveiled his Budget for 'growth' and said the economy will swerve a 'technical recession' in 2023.

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Manchester Evening News

The 10 key announcement's from Jeremy Hunt's Spring Budget including childcare changes

A wide number of changes were introduced, affecting employment, benefits, taxes, energy bills, and the economy

Evening Standard

Budget 2023 key points: What did Chancellor Jeremy Hunt announce?

The pension lifetime allowance abolished and the energy price guarantee extended, while draught beer duties will be frozen

The National (Scotland)

What Jeremy Hunt announced in his Spring Budget from fuel duty to childcare

Jeremy Hunt announced that fuel and pint duty would be frozen alongside a major childcare announcement.

Evening Standard

OPINION - The Standard View: Jeremy Hunt is right to put growth first

Jeremy Hunt, like many of his predecessors, is not blessed with a frothing economy or miles of fiscal headroom. Consequently, his self-declared task is to get Britain ‘back to work’, starting with today’s Budget.

Birmingham Post

What Chancellor Jeremy Hunt's 2023 Budget means for the North West

Businesses across the North West have reacted to the Budget

WEKU

The unexpected American shopping spree seems to have cooled

Retail sales dipped 0.4% in February after a surprise start-of-the-year surge that appeared at odds with the Federal Reserve's goal of cooling down the economy.

The Independent UK

UK will avoid recession in 2023, chancellor says

Inflation will also flat line this year, the OBR forecasted

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