Trump’s call to pause strikes in Iran boosts markets Economics Global markets leaped on news that President Trump paused strikes on Iranian infrastructure as he hinted that negotiations had been “very good and productive”. Brent crude – the international benchmark for oil prices – plunged back to below $100 per barrle after having jumped to $112 earlier in the day. The FTSE 100 also rose [...]
Reeves faces £20bn fiscal hole as energy crisis drives up costs Energy Rachel Reeves is facing a potential £20bn shortfall in her spending plans as the Middle East energy crisis pushes up inflation, borrowing costs and pressure on public sector pay. The warning from the Institute for Fiscal Studies (IFS) comes as surging oil and gas prices begin to feed through into the wider economy, threatening to [...]