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The conflict in the Middle East is expected to have a significant impact on the UK's economy, with the Organisation for Economic Cooperation and Development (OECD) warning of rising inflation and downgrading the UK's growth forecast to 0.7% this year.The OECD's analysis suggests that the UK economy will grow by just 0.7% this year, compared to its last forecast of 1.2% for 2026. This downgrade is attributed to a weakening of the UK jobs market and a contraction in business investment towards the end of 2025.The UK's economy is expected to suffer higher inflation than previously expected, with the OECD citing the country's dependence on international trade and imports of fuel as a major factor. In contrast, France, Germany, and Italy are expected to suffer a more modest hit to growth of 0.2 percentage points.The OECD's chief economist noted that the evolving conflict in the Middle East will test the resilience of the global economy, which is expected to grow at an average rate of 2.9% this year. However, the organization warned of a significant downside risk to the outlook, citing persistent disruptions to exports from the Middle East and potential repricing in financial markets.UK Chancellor Rachel Reeves responded to the OECD's warning, stating that the government plans to take steps to build a stronger, more secure economy, including handing more powers to regional mayors, embracing AI and innovation, and establishing a closer relationship with the EU.

UK Chancellor Rachel Reeves is facing pressure to raise taxes on businesses generating 'windfall' profits linked to the US-Israel war on Iran to fund emergency cost of living support for UK households.A group of leading charities, campaigners, and trade unions, including Greenpeace UK, the National Education Union, and Tax Justice UK, have written an open letter to Keir Starmer and Reeves, urging the government to strengthen its existing North Sea energy windfall tax and introduce new levies for firms in other sectors that stand to financially benefit from the conflict.The letter highlights that energy companies, banks, agricultural commodities businesses, defence companies, and tech firms are likely to profit from the economic fallout of the war. The group argues that the extra revenue generated from taxing these 'excess profits' could be used to support households struggling with the cost of living and invest in the UK's future energy security.R Reeves has signalled that the government is ready to provide targeted help for households grappling with the economic fallout from the Middle East conflict, amid a surge in energy prices since the onset of the war. The chancellor has also warned companies that she will not tolerate corporates profiteering from the crisis, telling bosses that the Competition and Markets Authority has been put on notice to detect and crack down on price gouging.The UK already has a windfall tax on North Sea oil and gas firms, the energy profits levy, which is due to run until 2030. However, Reeves had been planning to ease the tax before the US and Israel attacked Iran on 28 February.

Prem Rugby is set to introduce a significant change to its financial structure by implementing a minimum salary floor of £5.4m for each club next season. This move is part of a broader strategy to enhance competitiveness within the league. The decision was made by the Rugby Football Union Council last month, which also included the decision to ringfence the existing 10-team Prem until the 2029-30 season.The introduction of the salary floor is a key component of Prem Rugby's growth plan, which includes expansion windows every four years. This means that up to two new clubs could join the league, provided they meet the required minimum financial and sporting standards. The first tender process for new clubs is slated for 2027, with potential new members possibly joining Champ Rugby the following season and moving up to Prem Rugby in 2028-29 if they reach the playoffs.Prem Rugby's chief executive, Simon Massie-Taylor, emphasized that the league's vision is to become the best league in the world. However, this does not mean exceeding the financial capabilities of other leagues and creating wage inflation. The new salary floor is £1m lower than the current cap, which will remain unchanged for next season. Massie-Taylor highlighted that any future increases to the salary cap will be based on a formula as part of financial control measures.As part of its growth strategy, Prem Rugby also aims to host several 'Big Games' to appeal to a wider fanbase. The ambition is to have 10 Big Games by 2030, including the final and potential neutral playoffs. One example of this initiative is England's game against Fiji at the Hill Dickinson Stadium in Liverpool this summer, which could set a precedent for future events.

Italian authorities have seized €20m (£17.3m) of assets in Tuscany, including property, vineyards, and olive groves, allegedly bought with money embezzled from the actor Ursula Andress.Andress, 90, had filed a complaint in her native Switzerland alleging a “progressive and significant depletion of her assets” by individuals charged with managing her finances, Italy’s financial crimes police said in a statement on Thursday.Prosecutors in the Swiss canton of Vaud built a picture of a “systematic misappropriation of financial resources” worth about 18m Swiss francs carried out through multiple, opaque transactions, the police said. The money was traced to Italy, where prosecutors in Florence took up the case and police began following the paper trail.They tracked it to San Casciano in Val di Pesa, near Florence, and a real-estate complex consisting of 11 units and 14 plots of land used as vineyards and olive groves, as well as works of art and other assets, the statement said. The judge for preliminary investigations of the court of Florence ordered the seizure of the entire illicit profit, up to the amount of CHF 18,000,000, to be enforced against the identified assets.No suspects were identified in the statement. Andress surged to fame thanks to a scene in the 1962 James Bond movie Dr No, in which she emerged from the sea on to a Caribbean beach in a white bikini, knife at her hip and a seashell in each hand.

Egil Johansen, the landlord of the Kenton pub in Hackney, east London, describes recent incidents involving children as "like the wild west." He has now banned children entirely after a three-year-old fell down a cellar hatch while parents sat elsewhere, a five-year-old crashed into staff carrying drinks, and six parents brought 10 hyperactive children after a birthday party while ignoring their behavior."In every case, the parents blame us when something goes wrong or get really angry when we ask them to control their children," says Johansen, who has run the pub for 17 years. "I'm legally obliged to keep children safe on my premises and if the parents let their children run riot, the only answer is to not allow them in at all."Johansen initially tried banning children only after 5pm, but this interim measure failed to address the underlying issues. Despite online criticism framing him as the "baddie," he expresses sadness about the situation: "I'm a publican; I'm a people-person. It gives me no joy to ban anyone, but it's just not safe: parents don't control their children and our other customers were beginning to go elsewhere. I had no choice."The Kenton's decision reflects a growing trend among UK pubs seeking to differentiate themselves from establishments that "resemble soft play centres without the ball pit." While some welcome this shift, others view it as unwelcoming to families, creating a culture war in the pub industry.Lee Jones, landlord of the Brewers Arms in West Malvern, Worcestershire, reversed a previous child ban: "We're dog-friendly, child-friendly, adult-friendly. We're just friendly – we don't distinguish. Pubs are for the community and I don't see bans in the spirit of what we're here for." Jones reports that when children become rowdy, staff can address the issue with parents, though this is rarely needed.Stephen Boyd, who runs the Alma in south London, took a different approach after attempting to attract young families. He found families with children consumed disproportionate time and resources with special requests for diluted drinks, heated beverages, and customized meals, while adult customers waited longer for their orders."You just need a couple screaming, banging on a table or running up and down, and it dictates the whole atmosphere of the pub," Boyd says. "Parents would take massive umbrage if staff asked them to stop their children doing something." After implementing a child ban, he describes the change as "a fucking revelation" with staff retention improving and takings doubling.Despite the positive results, Boyd faced significant backlash: "I got a lot of online hate. Mainly from people who had never been to the pub but felt I was doing something morally hateful."Tom Stainer, chief executive of the Campaign for Real Ale, acknowledges the debate is "very live" but emphasizes: "But you do have to look at the responsibility of the parents in these situations, not just at the pubs. They're the ones responsible for making sure that their children behave."Financial considerations also drive some decisions. Mandy Keefe, landlady of the Wheel Inn in Ashford, banned children partly for behavioral reasons but also financial ones: "If a third of my Sunday customers were children eating from a reduced-rate child's menu and not drinking any alcohol, that wouldn't be financially viable."Across the UK, pubs are making individual decisions based on their specific circumstances, but as Johansen's experience demonstrates, it only takes one serious incident to settle the question for good.

Sir Paul Marshall, the co-owner of GB News and a self-described 'committed' Christian, has been criticized by a group of 100 church leaders over the TV channel's attacks on climate science and action. The leaders, including former Archbishop of Canterbury Rowan Williams, argue that Marshall's statements on climate change are misleading and that his hedge fund's £1.8bn investments in fossil fuels present a conflict of interest.Marshall has stated that the UK has been infected by 'climate derangement syndrome' and that efforts to cut planet-heating emissions are 'impoverishing people.' In response, the church leaders emphasized that 100% of global heating since 1950 has been caused by human emissions and activities, according to the world's climate scientists. They also noted that decarbonization is a huge growth opportunity that will save trillions of dollars in the long term.The leaders, in an open letter, urged Marshall to be transparent about any personal conflicts of interest and to declare his financial interests in fossil fuels. They cited research that found GB News broadcast 953 attacks on climate science and climate action in the period immediately before and after the 2024 general election.Marshall responded that 'the Gospel entreats us to look after the vulnerable' but argued that pursuing an 'ideological' net zero policy was 'a path of unilateral economic disarmament and self-harm.' He also stated that he was not involved in the editorial decisions of GB News, which has lost £131m since its launch in 2021.The Christian leaders' criticism of Marshall and GB News highlights the ongoing debate over climate change and the role of media outlets in shaping public discourse on the issue. As more than 100 countries have net zero policies and the UK's net zero economy grew by 10% in 2024, the pressure on media outlets to provide accurate and responsible reporting on climate issues continues to grow.

The Financial Conduct Authority (FCA) has accused Crispin Odey, a former hedge fund manager, of attempting to manipulate a victim of sexual assault into silence. According to evidence presented in court, Odey sent a text to his former employee in January 2022, warning her that the FCA could question her about him.Odey, who has previously accepted that he groped the woman without her consent in 2005, claimed he was under the influence of sedatives at the time. He now faces a number of sexual harassment allegations and has launched a £79m libel lawsuit against the Financial Times.The FCA's lawyer, Clare Sibson, argued that Odey was trying to manipulate the victim into silence and had a clear motive to discourage her from providing her account to the FCA. Odey, however, claimed he only wanted to ensure the woman would "tell the truth".The hearing continues, with Odey hoping to overturn the FCA's decision to ban him from the UK's financial services industry. In addition to the libel lawsuit, Odey is also facing civil personal injury claims by five women, including one who accused him of rape.

The UK government has introduced a temporary ban on cryptocurrency donations to political parties, following a review into countering foreign financial influence and interference in UK politics. The ban, recommended by Philip Rycroft, a former senior civil servant, aims to allow regulators to catch up with the risks associated with crypto assets.Rycroft's review highlighted that crypto assets are used as a vehicle to channel in foreign money, posing a risk to the integrity of the political finance system. While a full ban is not deemed necessary, the moratorium will remain in place until parliament and the Electoral Commission are satisfied that new rules are effective.The Electoral Commission has warned parties that the same verification procedures for cash donations also apply to crypto donations, including checking the source of donations over £500 and reporting donations from a single source over £11,180. The commission has noted that cryptoassets present particular challenges and risks in meeting electoral law requirements.Concerns over crypto donations have been raised due to the potential for using 'mixers' to obscure the true source of a donation or AI tools to split donations, which could evade reporting thresholds. The joint committee on the national security strategy has called for a ban on crypto donations, citing the risk to the integrity of the political finance system.Only three parties have said they will accept crypto donations: Reform UK, the far-right Homeland Party, and the Other Party. Reform UK has received crypto donations, but they have not exceeded the £11,180 threshold. The party accepts crypto donations through a Polish payment platform called Radom, which claims to follow UK rules around verifying the identity of donors.

Wales coach Craig Bellamy has urged his team to stay calm and focused ahead of their crucial World Cup playoff semi-final against Bosnia and Herzegovina on Thursday. Drawing inspiration from Usain Bolt's approach to high-pressure situations, Bellamy emphasized the need for his players to remain relaxed and composed under pressure.Bellamy, who has been in charge of Wales for nearly two years, believes that his team has the ability to perform at their best when they are calm and focused. He cited their seventh-ranked possession statistics in European countries since he took over, highlighting their ability to control games. The team has also shown resilience, with Ethan Ampadu deputizing for injured captain Ben Davies.The prize for success in the playoff is a spot at successive World Cups, which would not only bring prestige but also a significant financial boost and a positive impact on grassroots football in Wales. Bellamy is aware of the challenges posed by Bosnia and Herzegovina, having researched their background, culture, and squad composition. He noted that 11 of their 35-man squad were born in Bosnia, while the others come from the Netherlands, Germany, and Sweden.Bellamy expressed his confidence in his team's abilities, stating that “there won't be any regrets” regardless of the outcome. He emphasized that his team will give their all and that he is prepared for all possible outcomes. The coach also highlighted the importance of enjoying the experience and not letting pressure get to them, saying, “If you can't enjoy this and you only feel pressure, you ain't made for elite sport.”Wales' last experience in a playoff ended in pain, with Wojciech Szczesny being Poland's hero. However, Bellamy is determined to build a team capable of competing for top spot in qualifying and avoiding the need for playoffs in the future.