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World Economy Apr 02, 2026

UK braces for deepening recession as Trump‑Iran war triggers worst energy shock since the 1970s

Larry Elliott argues that the United Kingdom is confronting its most severe energy shock since the …
Britain is confronting the most severe energy shock since the early 1970s, as exports of oil, gas and fertiliser from the Middle East have abruptly stopped. The government says a response plan exists, but details remain vague. It is unclear whether the UK is better prepared for the fallout from Donald Trump’s war with Iran than it was for the pandemic six years ago. Ministers are sending a "we have your back" message to the public while simultaneously signalling to financial markets that any assistance will be limited and targeted. Contingency planning is especially difficult when dealing with an unpredictable leader like Trump. Britain’s heavy reliance on imported energy and food means that reassurance can only hold for a short time. The economy entered the conflict already on shaky ground: unemployment rose steadily throughout 2025 and growth stalled to a virtual standstill in the final quarter of that year. The sudden loss of Middle‑East energy and fertiliser supplies now adds a colossal supply shock. Last year, Trump’s “liberation day” tariff hikes served as a dry run for a far more serious confrontation. This time, the war is taking place in a region that is both volatile and crucial to the global economy. In the past two weeks, the repercussions have been felt across Asia – the Philippines declared a state of emergency, Sri Lanka introduced a four‑day work week, and South Korea announced budget measures to help households cope with soaring energy bills. The continent is the most dependent on Gulf‑exported energy, making the impact there the sharpest. The International Monetary Fund warned that the shock will drive higher prices and slower growth worldwide. Shortages push fuel and food prices up, eroding disposable income, prompting businesses to cut staff, and increasing the risk of recession. The UK, already projected to be one of the poorest‑performing major economies in 2026, could see its fresh graduate cohort face a brutal job market. Trump’s claim that the war could end within two or three weeks appears desperate. Even a rapid cease‑fire would leave substantial collateral damage, creating a stagflation scenario that could hurt Republican prospects in the upcoming mid‑term elections. British officials hope a swift resolution will limit economic damage, allowing a short‑term inflation spike to subside and the Bank of England to resume interest‑rate cuts. Treasury plans include scrapping the planned autumn fuel‑duty rise and providing targeted help for the poorest households, though the path is unlikely to be that simple. Currently, the Treasury is hesitant to act boldly for fear of unsettling bond markets. History – the 2008 banking collapse and the 2020 pandemic – shows that governments can act decisively without triggering a market backlash, using tools such as aggressive rate cuts, increased borrowing, and quantitative easing. The Bank of England has warned of a "substantial negative supply shock" and is expected to soften markets for future rate cuts, which are inevitable. Finance Minister Rachel Reeves could mitigate labour‑market pain by reversing recent increases in employers’ National Insurance contributions, subsidising public transport, and even lowering speed limits to conserve energy. The war, like the pandemic and Russia’s invasion of Ukraine, underscores the fragility of global supply chains and the need for greater British self‑reliance. Investing heavily in renewable energy is essential, but the UK also imports roughly 40% of its food and has not run a manufacturing trade surplus since 1982. In a world of disrupted supply lines, a robust plan for economic self‑sufficiency is more urgent than ever. Larry Elliott is a Guardian columnist.
#war #but #global
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Politics Apr 02, 2026

UK Government Moves to Ease Planning Restrictions for Intensive Poultry Farms Amid Industry Lobbying

UK ministers are revising the National Planning Policy Framework to simplify approval of intensive …
Ministers are rewriting planning rules to make it easier to approve intensive livestock farms, despite ongoing concerns about water pollution, air quality and local opposition.Freedom of Information documents obtained by the Guardian reveal that proposed changes to the National Planning Policy Framework (NPPF) have been discussed in response to lobbying by the country’s leading chicken producers for at least two years.The British Poultry Council (BPC) told farming minister Angela Eagle last autumn that “access to more growing space is the number one priority for the poultry meat sector.”In a submission to the government’s farm profitability review, the BPC argued that the need for a solution—whether through planning reform or land‑use policy—“dwarfs all other issues currently facing us.”Ahead of a January round‑table with Eagle, the BPC urged the government to “develop national planning direction and oversight for food production … to safeguard the UK’s long‑term food security.”Eagle responded that the government has “announced proposals to reform the planning system to more quickly unlock food and farming infrastructure,” emphasizing that “planning should enable ambition, not stifle it.”Her briefing notes directly linked the proposed changes to industry lobbying, describing planning reform as one of the sector’s “biggest asks” and noting that the Department for Environment, Food & Rural Affairs and the Ministry of Housing, Communities and Local Government are working to “find solutions to planning barriers to poultry sheds and other infrastructure necessary for food production.”The draft NPPF includes several measures that could ease approval of new intensive livestock developments: a higher threshold for refusing applications on environmental grounds, reduced scope for local authorities to adopt tougher rules, greater weight given to “domestic food production,” and a new emphasis on “better accommodation for livestock.”The industry says it needs extra space to house chickens because of voluntary commitments to lower stocking density. Critics point out that these welfare commitments are not legally binding and that planning conditions do not guarantee long‑term compliance. Recent withdrawals by restaurant chains from the Better Chicken Commitment underscore the controversy.Richard Griffiths, chief executive of the BPC, said the reforms are needed to accommodate welfare improvements rather than to expand production, noting a voluntary reduction in stocking density from 38 kg to 30 kg per square metre.Griffiths warned that failing to support domestic production could increase imports, and the BPC has called for food production to be classified as “critical national infrastructure.”Prof. Paul Behrens of the University of Oxford countered that the food‑security case for intensive poultry is “illusory” because the sector depends on imported feed and vitamins and is vulnerable to disease outbreaks such as avian flu.Opposition to poultry megafarms is organised, with local residents raising concerns over water pollution, air quality and the climate crisis. The Environment Agency estimates agriculture accounts for roughly 70 % of nitrate and 25‑30 % of phosphorus pollution in UK waterways, and runoff from intensive poultry units contributes to that burden.Last year, Norfolk councillors rejected Cranswick’s plan for a 900,000‑bird chicken farm after the company failed to demonstrate that the development would not cause “significant adverse effects on protected sites.”The BPC has also urged early intervention by the Planning Inspectorate to minimise delays, arguing that centralised oversight would bring objectivity to a system where “naysayers, particularly via social media, have a disproportionate sway in the decision‑making process.”Campaign group Communities Against Factory Farming warned that the proposed regime “risks embedding decades of industrial livestock land use in rural and green‑belt locations without adequate scrutiny,” giving “substantial weight” to the economic benefits of intensification.A government spokesperson rejected claims that the NPPF proposals are driven by lobbying, stating that they have been carefully considered to balance sector support with broader priorities such as food security and environmental protection.
#UK Government #National Planning Policy Framework #British Poultry Council
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World Economy Apr 01, 2026

Cuba's Tourism Industry in Crisis: US Oil Blockade Devastates Economy

The US oil blockade imposed on Cuba in January has severely impacted the country's tourism industry…
Cuba's tourism industry, once a pillar of the country's economy, is reeling from the effects of the US oil blockade imposed in January. The blockade has led to a significant decline in visitors, with only 1.6 million tourists visiting the island from January to November last year, a drop from its 2018 peak of 4.8 million.The decline in tourism has had a devastating impact on the livelihoods of Cubans who rely on the industry for their income. Taxi driver Rainier Hernandez, 38, used to work upwards of six hours a day ferrying tourists around Havana, but now he is lucky to get one or two hours of paid work in a day.The economic momentum has sputtered in recent years, a trend accelerated by a recent spike in tensions between the US and Cuba. The blockade has pushed petrol prices up to $12 per litre ($45.36 per gallon) and led the government to cancel nearly all public transport options.Tour guides like Carlos Fariñas, 29, are struggling to make ends meet, with some considering leaving the island in search of better opportunities. 'If there is no tourism, there is no economy,' Fariñas said.The situation has become so dire that some Cubans are worried about losing their homes, as the collapse of the tourism industry could cost them the very roof over their heads. 'I would die of hunger' if I had to wait for tourists to return, said Alejandro Ricardo, 26, who manages an Airbnb in Havana.The US oil blockade has had far-reaching consequences for Cuba's economy, with the country's tourism industry accounting for nearly 12 percent of its GDP at its height in the late 2010s. The blockade has left many Cubans uncertain about their future on the island, as they struggle to afford necessities.
#cuba #tourism #his
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Sports Apr 01, 2026

DR Congo clinches 2026 World Cup berth with extra‑time winner over Jamaica

The Democratic Republic of the Congo secured a place at the 2026 FIFA World Cup by beating Jamaica …
The Democratic Republic of the Congo (DRC) earned a spot at the 2026 FIFA World Cup after a tense intercontinental playoff final against Jamaica ended 1‑0 in extra time.The match‑winner came from former Manchester United defender Axel Tuanzebe, who now plays for Burnley in the English Premier League. He headed the ball home from a corner in the 100th minute, and after a brief VAR check for a possible handball, the goal was confirmed.Tuanzebe reflected on the moment, saying, “We made it very difficult for ourselves, perhaps the occasion got the better of us. To score the winning goal for your country… this is what every player dreams of.” He added, “I am so proud of what I could do for the country, I’m so proud of the country, and now it is time to celebrate.”The DRC dominated the fast‑flowing encounter despite the scarcity of clear‑cut chances, and the victory ensures that ten African teams will line up for the 2026 tournament – the highest representation ever.Having previously defeated Nigeria in the CAF playoff, the DRC entered the intercontinental stage directly into the final due to their higher ranking. Jamaica reached this stage by beating New Caledonia.This will be only the second World Cup appearance for the DRC, the first being in 1974 when the nation competed as Zaire. Jamaica’s sole previous appearance came in 1998 in France.In the upcoming group stage, the DRC will join Portugal, Colombia and Uzbekistan, opening the tournament against Portugal.The final intercontinental slot remains undecided, with a clash between Iraq and Bolivia scheduled for later on Tuesday.
#list #world #cup
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World Economy Apr 01, 2026

FDA Grants Fast-Track Approval to Eli Lilly’s Oral GLP‑1 Weight‑Loss Pill Foundayo, Heightening Competition with Novo Nordisk

The U.S. FDA has approved Eli Lilly’s once‑daily oral GLP‑1 drug, Foundayo (orforglipron), marking …
The U.S. Food and Drug Administration announced on Wednesday that it has granted expedited approval to Eli Lilly’s oral weight‑loss medication, orforglipron—marketed under the brand name Foundayo. This makes Foundayo the second GLP‑1 pill to reach U.S. consumers, following Novo Nordisk’s Wegovy tablet approved in December. Orforglipron works by mimicking a natural hormone that regulates appetite and satiety, offering a non‑injectable alternative to existing GLP‑1 injectables. David A. Ricks, Eli Lilly’s chair and CEO, highlighted that fewer than one in ten eligible patients are currently using GLP‑1 therapies, citing barriers such as cost, stigma, and perceived complexity. Unlike Wegovy, which must be taken on an empty stomach each morning, Foundayo can be taken anytime of day regardless of meals, simplifying dosing schedules. Patients will start on a low dose that is gradually increased to mitigate side‑effects. Pricing is projected at $149 per month for the initial dose, with higher‑strength formulations potentially reaching $349 monthly. While private‑insurance coverage remains uncertain, a Trump‑administration proposal could allow Medicare to cover certain patients as early as this summer, with copayments as low as $50 per month. Distribution will commence on Monday through LillyDirect’s direct‑to‑consumer channel, with broader availability in pharmacies and telehealth platforms expected shortly thereafter. The convenience of a once‑daily pill is anticipated to improve adherence, especially for individuals who avoid injectables due to needle aversion or rigid dosing requirements. The approval follows a fast‑track submission submitted only months ago, positioning Foundayo to enter the market roughly three months after Wegovy. This rapid rollout is set to intensify competition in the burgeoning GLP‑1 space, where new agents are continually emerging with claims of better efficacy and lower costs.
#fda #orforglipron #foundayo
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Business Apr 01, 2026

Oracle Cuts Thousands of Jobs to Focus on AI Infrastructure

Oracle is cutting thousands of jobs as it increases spending on AI infrastructure, including a $300…
Oracle, a US technology company with a market value of $420bn, has begun cutting thousands of jobs as it seeks to reassure investors that its bet on AI infrastructure will pay off. The company, which has a workforce of 162,000, has reportedly let go of around 10,000 people so far.The job cuts, which were announced via email, affect various roles including senior engineers, architects, operations leaders, program managers, and technical specialists. Oracle's decision to reduce its workforce comes as it steps up spending on datacentres, key infrastructure for developing and operating AI systems, in an effort to better compete with cloud rivals such as Alphabet and Amazon.Oracle's plans include a $300bn datacentre deal with OpenAI, the developer of ChatGPT. However, investors have grown concerned about the billions of dollars of expenditure attached to its plans, which includes raising $50bn in new debt. In a March filing, Oracle said it expected total costs tied to its 2026 restructuring plan to reach up to $2.1bn, largely owing to redundancies and related expenses.The job cuts are part of a broader trend in the tech industry, with over 70 tech companies cutting around 40,480 jobs so far this year, according to the tech redundancy site Layoffs.fyi. This trend is driven by companies reallocating resources towards artificial intelligence, heightening fears of AI-driven disruptions among workers.
#Oracle #OpenAI #AI infrastructure
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Sports Mar 31, 2026

Teenage prodigy Vaibhav Sooryavanshi sparks 15‑ball fifty as Rajasthan Royals clinch IPL win over Chennai

Fifteen‑year‑old Vaibhav Sooryavanshi blasted a 15‑ball half‑century, guiding Rajasthan Royals to a…
Just days after his 15th birthday, Rajasthan Royals’ opening batsman Vaibhav Sooryavanshi celebrated with a blistering 15‑ball fifty, steering his side to an eight‑wicket victory against Chennai Super Kings on Monday.Following a debut‑season knock of 100 off 35 balls against Gujarat Titans last year, the teenager continued his aggressive form, reaching 52 runs from only 17 deliveries – a spell that featured five sixes and four fours. His innings, paired with a rapid 75‑run partnership alongside fellow opener Yashasvi Jaiswal, propelled Rajasthan to a target of 128 in just 12.1 overs."Our strategy was to dominate the powerplay and set the tone early," Sooryavanshi explained. "If the opposition had bowled better in those first overs, the match could have swung the other way, but we chose to attack from the start."The young batter credited the backing of coach Kumar Sangakkara and the support staff for encouraging his instinctive attacking approach, noting that they urged him to read the situation and trust his game.Rajasthan’s chase was underpinned by a disciplined bowling display. South Africa pacer Nandre Burger led the attack with figures of 2‑26 and was named player of the match. Both Jofra Archer and Ravindra Jadeja contributed two wickets each, helping restrict Chennai to 127 all out in 19.4 overs after a shaky 41‑4 start.Looking ahead, the Royals will meet the Gujarat Titans in Ahmedabad on Saturday, while Chennai prepares to host Punjab Kings on Friday.
#sooryavanshi #rajasthan #list
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Sports Mar 31, 2026

England Suffers 0-1 Defeat to Japan in Wembley Friendly

England lost 0-1 to Japan in a friendly match at Wembley, with Kaoru Mitoma scoring the winning goa…
England suffered a 0-1 defeat to Japan in a friendly match at Wembley, with Kaoru Mitoma scoring the winning goal. The match saw several England players struggle, including Ben White and Kobbie Mainoo, who received low ratings.Jordan Pickford had a mixed game, with no chance to save Mitoma's goal but making a good save from Ritsu Doan. He received a rating of 6. Marc Guéhi was one of the better performers in defense, blocking a shot in the second half and earning a rating of 6.The defeat raises questions about England's form, particularly with Phil Foden and Anthony Gordon struggling to make an impact. The team's World Cup hopes may be affected by this loss.Substitutes Jarrod Bowen, Lewis Hall, Dominic Solanke, and Marcus Rashford all received positive ratings, but it was too little, too late to change the outcome of the match.
#england #japan #wembley
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Politics Mar 31, 2026

Trump's Fossil Fuel Push Sparks Global Volatility and Environmental Concerns

Critics argue that Trump's policies on fossil fuels have led to dangerous volatility globally, high…
President Donald Trump's aggressive pursuit of fossil fuels, particularly in the context of the Iran conflict, has exposed the volatile nature of the fossil fuel era, according to critics. The ongoing tensions have resulted in significant economic and environmental costs, including a spike in global energy costs and a substantial humanitarian toll.The conflict has led to a humanitarian and environmental crisis in Iran and southern Lebanon, with threats of further escalation likely to exacerbate these issues. The blockade of the Strait of Hormuz, a critical passage for oil transportation, has had far-reaching economic implications, with consumers worldwide paying over $100 billion extra to fossil fuel companies since the conflict began. In the US, the average national cost of gasoline has risen to nearly $4 a gallon.Experts, such as Alice Hill from the Council on Foreign Relations, have expressed concerns about Trump's reliance on fossil fuels, stating that it is a risky strategy. Hill emphasized that countries investing in clean energy like solar and wind power will be better positioned to weather such crises. However, Trump's administration has actively sought to undermine clean energy projects, including banning them from federal land and waters and removing their subsidies.The Trump administration's actions have been contrasted with the growing global investment in renewable energy. Despite the declining cost of wind and solar power, the administration has taken steps to promote fossil fuel extraction, including attempting to seize oil supplies from Iran and Venezuela. This approach has been criticized for its potential to exacerbate climate change and undermine global efforts to transition to cleaner energy sources.The ongoing dependence on fossil fuels has been highlighted by recent environmental disasters, including toxic black smoke from missile strikes on oil depots in Iran and an oil spill in the Gulf of Mexico. These incidents have underscored the need for a shift towards cleaner energy sources to mitigate the risks associated with fossil fuel extraction and consumption.
#Donald Trump #fossil fuels #clean energy
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