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World Economy Mar 24, 2026

UK Defence Industry in Crisis as Delayed Spending Plan Leaves Firms 'Bleeding Cash'

The UK defence industry is facing a crisis due to a delayed military spending plan, leaving firms s…
The UK defence industry is in a state of crisis as a long-delayed military spending plan has left firms 'bleeding cash' and in 'paralysis'. The six-month delay to the defence investment plan (DIP) has resulted in some companies going bust, while others are struggling to stay afloat.Industry groups have warned that the delay has left the UK behind Germany and the US in attracting investment from global investors. The DIP, originally expected last autumn, has been repeatedly postponed amid warnings that the military faces a £28bn funding gap over the next four years.Samira Braund, the defence director of the ADS Group trade body, described the situation as 'paralysis', stating that the government has not put effective mitigation plans in place. The boss of BAE Systems, Europe's biggest defence contractor, has urged ministers to publish the plan, while some smaller firms have been forced out of business.One such company was MTE Heat Treatment, a Yorkshire-based manufacturer with just over 30 employees that helped make turbine blades for jet engines. It fell into administration in February. Andrew Kinniburgh, the head of the trade body Make UK's defence arm, warned that the delay risks deterring investment in the UK at a time when the US and Europe are also raising military spending.The DIP will show how the government plans to fund its strategic defence review, the blueprint for transforming the military amid growing threats from Russia, rising commitments to Nato and against the backdrop of the US-Israel war on Iran. Ministers accepted all the review's recommendations when it was published last June, but the head of the military, Air Chief Marshal Sir Richard Knighton, told MPs in January that defence cuts would be needed without more funding.
#defence #military #cash
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Sports Mar 24, 2026

Mohamed Salah Announces Departure from Liverpool FC at End of Season

Liverpool FC has announced that star player Mohamed Salah will be leaving the club at the end of th…
Liverpool FC has confirmed that Mohamed Salah will depart the club at the end of the season, marking the end of his nine-year tenure with the team. The announcement was made through a statement released by the club.Salah, who joined Liverpool from Roma in 2017 for £36.9m, has been a pivotal player for the team, scoring 255 goals in 435 appearances and winning numerous titles, including the Premier League golden boot four times. He is third in the club's all-time leading goalscorers chart, behind Ian Rush and Roger Hunt.In a heartfelt video message posted on social media, Salah expressed his gratitude to the club, the city, and the fans, stating, “Liverpool is not just a football club. It’s a passion, it’s a history, it’s a spirit.” He also thanked his teammates, past and present, for their support throughout his time at the club.During his time with Liverpool, Salah has won two Premier League titles, the Champions League, Fifa Club World Cup, Uefa Super Cup, FA Cup, and two League Cups, as well as a Community Shield. Despite his departure, Salah remains focused on achieving the best possible finish to the current season for Liverpool.The club has announced plans to give Salah a send-off at Anfield on the last day of the league season in May, when Liverpool plays Brentford. This will provide an opportunity for fans to celebrate his legacy and achievements.
#liverpool #salah #club
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World Economy Mar 24, 2026

UK Chancellor Rules Out Universal Energy Bill Support, Eyes Targeted Aid

UK Chancellor Rachel Reeves has ruled out universal support for energy bills, instead opting for ta…
UK Chancellor Rachel Reeves has announced that the government will not provide universal support to deal with potential future rises in energy bills. Instead, any government assistance will be targeted towards those who need it most.Reeves criticized the support package offered by the previous government under Liz Truss as unaffordable and irresponsible, stating that it benefited the wealthiest households and led to high levels of national debt.The chancellor emphasized that any future support will be provided within the government's fiscal rules to keep inflation and interest rates low. The government is currently focusing on longer-term measures to reduce energy bills for all households.Reeves also mentioned that she will review the planned fuel duty rise in September, but did not commit to delaying or postponing it. She will hold meetings with supermarkets and banks to discuss how they can support their customers and ensure that the Competition and Markets Authority has the necessary powers to detect and prevent price gouging.The chancellor's announcement comes amid speculation about the government's response to the energy crisis and its impact on households.
#support #she #government
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News Mar 23, 2026

US Intelligence Warns of Pakistan's Advancing Missile Capabilities as Potential Threat

The US Director of National Intelligence, Tulsi Gabbard, has warned that Pakistan's advancing missi…
The United States' top intelligence official has identified Pakistan as one of five countries, alongside Russia, China, North Korea, and Iran, whose advancing missile capabilities could eventually pose a threat to US territory. Director of National Intelligence Tulsi Gabbard presented the 2026 Annual Threat Assessment before the Senate Intelligence Committee, highlighting that these countries are developing novel missile delivery systems with nuclear and conventional payloads that could reach the US homeland.Gabbard specifically noted that Pakistan's long-range ballistic missile development potentially includes Inter-Continental Ballistic Missiles (ICBMs) with a range capable of striking the US. The written assessment also flagged Pakistan across multiple threat categories, including missile technology and weapons of mass destruction.However, experts and Pakistani officials have pushed back against these claims. Pakistan's Ministry of Foreign Affairs spokesman, Tahir Andrabi, stated that Pakistan's strategic capabilities are 'exclusively defensive' and aimed at safeguarding national sovereignty and maintaining peace in South Asia. Experts also point out that Pakistan's longest-range operational missile, the Shaheen-III, has an estimated range of 2,750km, which is not sufficient to reach the US.The assessment has sparked a debate over intent, with some US officials suggesting that Pakistan might be developing missiles to deter Washington from intervening in a future India-Pakistan conflict. However, Pakistani analysts argue that Pakistan's deterrence posture is India-centric and not aimed at projecting power globally.The issue comes at a complex moment in US-Pakistan relations, which have undergone a diplomatic reset over the past year. US President Donald Trump has praised Pakistan's army chief, Field Marshal Asim Munir, and has been involved in brokering a ceasefire between India and Pakistan. The situation highlights the intricate dynamics at play in South Asia and the ongoing challenges in the region.
#pakistan #missile #india
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Sports Mar 23, 2026

Iran Expels Star Footballer Sardar Azmoun from National Team Amidst Disloyalty Allegations

Iranian football star Sardar Azmoun has been expelled from the national team due to allegations of …
Sardar Azmoun, one of Iran's top football players, has been expelled from the national team over allegations of disloyalty to the government. This development has significant implications for Iran's participation in the upcoming FIFA World Cup, which is co-hosted by the United States, Mexico, and Canada.Azmoun, who plays for Dubai's Shabab Al-Ahli, upset Iranian authorities by posting a picture on his Instagram feed with Dubai's ruler, Mohammed bin Rashid Al Maktoum. This move was perceived as a disloyal act, especially given the strained relations between Iran and the UAE, which have included rocket and drone attacks by Iran on the UAE.The 31-year-old striker, known for his impressive career abroad with clubs like Zenit Saint Petersburg, Bayer Leverkusen, and Roma, has scored 57 goals in 91 internationals since his debut in 2014. His absence will undoubtedly weaken Iran's team, Team Melli, in their upcoming matches.Criticism against Azmoun was severe on state TV, with football pundit Mohammad Misaghi stating that Azmoun's actions were an act of disloyalty and that he was not worthy of wearing the national team jersey. There was no immediate response from the Football Federation of the Islamic Republic of Iran (FFIRI) regarding the matter.This incident comes at a time when Iran's women's national team is dealing with its own controversy, with several players seeking asylum in Australia after being branded 'wartime traitors' on Iranian state TV for not singing the national anthem before a Women's Asian Cup match.
#iran #national #team
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News Mar 23, 2026

Iraq Becomes Battleground as US Targets Iran-Aligned Groups

The US has carried out airstrikes against Iran-aligned groups in Iraq, including the Popular Mobili…
The conflict in the region has intensified, with Iraq becoming a two-way battlefield between armed factions and the United States during its war with Iran. The US carried out strikes against the Shia paramilitary umbrella group, also known locally as Hashed al-Shaabi, late on Sunday after attacks on a US diplomatic and logistics centre at Baghdad International Airport.The attack was carried out after Iraqi security officials said four explosions were heard near Camp Victory, a US logistics centre at the capital’s main airport. No casualties were reported as the positions were deserted.The PMF is part of Iraq’s regular armed forces and includes some pro-Iranian groups. Pro-Iran armed groups have claimed responsibility for attacks on US interests in Iraq and across the region while strikes have also targeted these groups.Economic worries also are weighing heavily after Iraq’s Ministry of Oil last week announced a case of force majeure on all oilfields developed by foreign oil companies, citing disruptions to navigation through the Strait of Hormuz, which have halted most of the country’s crude exports.“Iraq relies on that revenue,” said Nicolas Haque, a reporter from Iraq’s capital. “That’s 90 percent of its revenues, so that’s going to have an impact on people.”US President Donald Trump on Saturday threatened to attack Iran’s power plants if freedom of navigation through the Strait of Hormuz was not fully restored in 48 hours. On Monday, hours before his deadline was to expire, Trump ⁠ordered the US ⁠military to postpone ⁠strikes ⁠against the power plants for five days.
#iraq #iran #israel
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Sports Mar 23, 2026

Football Star Jorginho Sparks Social Media Firestorm Against Singer Chappell Roan

Footballer Jorginho publicly criticized singer Chappell Roan after claiming her security guard spok…
In an unexpected turn of events that captured social media attention over the weekend, footballer Jorginho found himself in a public dispute with American pop singer Chappell Roan. The former Chelsea and current Flamengo midfielder took to social media to accuse Roan's security guard of speaking "in an extremely aggressive manner" to his stepdaughter and wife at a São Paulo hotel.Jorginho, whose stepdaughter happens to be actress Jude Law's daughter, claimed that his stepdaughter had merely smiled at Roan while walking past the singer's table during breakfast. Without his fans, "you would be nothing," Jorginho stated in a departure from his typically less confrontational public persona.In response, Roan posted a video denying the allegations and clarifying that the security guard in question was not her personal security. The singer explained she was simply sitting at breakfast when the incident allegedly occurred and expressed regret if the mother and child felt uncomfortable. "I do not hate people who are fans of my music. I do not hate children – that is crazy," Roan stated in the video, which was recorded while she was lying in bed.The controversy quickly escalated when Eduardo Cavaliere, the mayor of Rio de Janeiro, announced a ban on Roan performing at the city's annual Todo Mundo festival. "As long as I'm in charge of our city – this young lady @ChappellRoan will never perform at Todo Mundo no Rio!" he declared, while simultaneously inviting Jorginho's stepdaughter as a guest of honor.Quote of the Day came from Pep Guardiola following Manchester City's recent triumph: "I wanted another yellow card, that was the target. If I cannot celebrate against that team with the way we are playing, then when? Emotions are related to the way we are playing. Give me another yellow card, I'm not yet artificial intelligence. I'm a human being and I want to celebrate."
#not #just #roan
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World Economy Mar 23, 2026

UK Government Considers Winter Support for Household Bills Amid Energy Price Shock

The UK government is exploring options for supporting household bills next winter, with a focus on …
UK Prime Minister Keir Starmer has indicated that the government is considering providing support for household bills next winter, as the energy price shock triggered by the Iran conflict shows no signs of abating. Speaking to the Commons liaison committee, Starmer emphasized the need to examine 'every lever that's available' to help households cope with the cost of living impact. The government is reportedly discussing contingency plans at an emergency Cobra meeting, which will be attended by the governor of the Bank of England. Starmer suggested that any support would likely be targeted at the poorest households, rather than a universal bailout, which he acknowledged would be expensive. Ministers are also exploring means-testing support when the next energy price cap comes to an end in June, as well as in the autumn when energy consumption and bills are higher. 'We're looking at in the first instance what happens when the current price cap ends, which is the end of June,' Starmer said. The prime minister warned that despite US President Donald Trump's decision to postpone airstrikes on Iran's power plants, the energy crisis could continue for months to come. 'All of our focus and energy has to be in the swift de-escalation, but we've got to plan on the basis that it could go on for some time,' he said. In addition to support for household bills, the government is considering giving the Competition and Markets Authority (CMA) 'further teeth' to prevent companies from exploiting the crisis through price gouging or profiteering.
#energy #starmer #but
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World Economy Mar 23, 2026

Global Markets React as Trump Postpones Iran Strikes

Global stock markets experienced significant fluctuations and oil prices dropped after US President…
Global stock markets swung wildly on Monday as investors reacted to US President Donald Trump's decision to postpone military strikes on Iranian power plants. The move led to a relief rally in European markets, with the French Cac 40, Spanish Ibex, and German Dax all rising by 0.8%, 1%, and 1.2% respectively.The FTSE 100 share index, which had fallen by almost 1.5% in early trading, reversed course to gain 0.4% before paring back to close down 0.2%. US markets were up more than 1% in early afternoon trading on Wall Street.Oil prices, which had been rising after Trump threatened to strike Iranian infrastructure, dropped sharply. Brent crude, the international benchmark, fell 10% to $101 a barrel. The UK month-ahead gas prices fell 6% to 142p a therm.Trump announced on his social media platform Truth Social that the US and Iran had “very good and productive conversations” over the past two days regarding “a complete and total resolution of our hostilities in the Middle East”. He said he had instructed the Department of War to postpone any and all military strikes against Iranian power plants and energy infrastructure for a five-day period, subject to the success of ongoing meetings and discussions.The global economy has been bracing for much higher oil prices due to disruption in the strait of Hormuz, with Goldman Sachs forecasting Brent crude will average $85 a barrel this year, up from previous expectations of $77 a barrel. Brent hit $119.50 a barrel earlier this month, the highest since the war began.
#oil #which #iran
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