BP Posts Highest Profit Since 2023 on Iran War
BP reported a $3.2bn profit for Q1 2026, its highest since 2023, driven by rising oil prices due to the Iran conflict and Strait of Hormuz disruption.
Category : Budget Finance
Lords Urge Reeves to Increase Fiscal Buffer
House of Lords committee says Rachel Reeves should aim for a significantly larger fiscal buffer, warning UK debt is on an unsustainable path.
Cut Stamp Duty to Revive Share Ownership
Steven Fine argues the government's Savvy the Squirrel campaign contradicts record stamp duty on share trading, urging a tax cut to boost investing.
Stamp duty 'handbrake' on retail investment, says Peel Hunt CEO
Peel Hunt CEO Steven Fine warns the government's retail investment campaign will fail unless stamp duty on shares is cut or abolished, calling the tax a 'handbrake' on investment.
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Labour Peer Warns Reeves Against Using Headroom as 'Piggy Bank'
A Labour peer warns Chancellor Rachel Reeves against using fiscal headroom as a 'piggy bank' for extra spending, urging larger buffers and fewer rule changes.
DWP Benefit Payment Date Changes for May Bank Holidays
DWP and HMRC announce early benefit and State Pension payments due to May bank holidays on May 4 and May 25. See full list of affected payments.
G7 Central Banks Hold Rates as Iran War Fuels Inflation
G7 central banks are expected to keep borrowing costs unchanged amid concerns over inflation from the Iran war, with warnings of prolonged conflict risks.
King's Speech to Set City Reforms, PM Seeks Turnaround
The King's Speech will legislate City reforms including scrapping the payments watchdog and overhauling the ombudsman, as PM aims to boost growth.
NDIS Cuts: Labor's Plan to Save Billions
Explore the financial and human costs of Labor's proposed NDIS cuts. How will the savings impact participants and the broader disability sector?
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Pension Inheritance Tax: What You Need to Know Now
From April 2027, unused pension pots will face inheritance tax. Learn how to spend, gift, or invest to reduce the bill for your heirs.
DOJ Ends Criminal Probe into Fed Chair Powell
The Justice Department closes its criminal investigation into Federal Reserve chair Jerome Powell over building renovations, citing an inspector general review.
Bank of England Holds Rates at 3.75% Amid Iran War
The Bank of England is expected to keep interest rates unchanged at 3.75%, with markets focused on MPC guidance amid Iran war impact on UK economy.
Albanian Gang Raids Cannabis Grow House in TikTok Video
Footage shows masked Albanian gang raiding a cannabis grow house, using infrared scanners to locate heat lamps. The video, posted on TikTok, highlights growing criminal activity in West Yorkshire.
HMRC Reunites Young Britons with Lost Trust Funds
HMRC launches campaign to reconnect young Britons with forgotten child trust funds, average balance £2,200, targeting 21-year-olds with unclaimed accounts.
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UK Finance Firms Hit with £1bn in Fines for Control Failures
UK financial firms have faced £1bn in fines since 2021 due to internal control failures, with over half linked to poor anti-money laundering and fraud prevention, prompting a 'wake-up call' from regulators.
Sainsbury's CEO Calls for Energy Cost Relief for Food Industry
Simon Roberts warns that rising energy costs from the Iran conflict could push up food prices, urging government support for farming, manufacturing, and retail.
UK Services Sector Record Cost Inflation Spike
UK services sector faces record cost inflation spike in April due to soaring fuel prices amid Iran war, surpassing post-mini-Budget levels.
Savvy Squirrel Campaign Aims to Boost UK Investment
The Savvy Squirrel campaign, supported by Chancellor Rachel Reeves, uses advertising to encourage Britons to invest beyond cash ISAs, though critics call it too tame.
UK Borrowing Below Target, Iran War Threatens Headroom
The UK government undershot its annual borrowing target by £700m, but the Iran conflict could wipe out most of Rachel Reeves's fiscal headroom, risking economic stability.
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Australian Budget 2026: NDIS Cuts and Health Rebate Changes
The Australian government's 2026 budget addresses cost-of-living pressures with NDIS cuts, health insurance rebate adjustments, and fuel crisis measures under Mark Butler and Anthony Albanese.
UK Borrowing Drops Below Forecasts in Labour's First Year
Britain's government borrowing fell to £132bn in the last fiscal year, £700m below OBR forecasts, driven by higher tax revenues and lower spending. However, Middle East conflict threatens future fiscal plans.
Reeves Borrows Less Than Forecast as Tax Hikes Narrow Deficit
Chancellor Rachel Reeves oversaw £132bn in government borrowing for 2024-25, below the OBR's £137.3bn forecast, with tax receipts surging 9.1% amid sweeping tax increases.
Helen Whately: Pensions Belong to Savers, Not the State
Helen Whately argues against government powers to direct pension investments, citing threats to fiduciary duty and savers' interests in the Pension Schemes Bill debate.
UK Workers Hit with Fastest Tax Rise in Rich World
Taxes on British workers surged by 2.45 percentage points last year, the steepest increase among OECD nations, driven by national insurance hikes and fiscal drag.
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UK Wage Taxes Rise Fastest in OECD After Reeves Budget
A new OECD report reveals UK taxes on wages increased more than any other member country, driven by Chancellor Rachel Reeves' national insurance hikes and Tory-era income band freezes.
Renters' Rights Act: Major Reforms from May
The Renters' Rights Act brings sweeping changes from May, banning no-fault evictions and introducing rolling tenancies. Tenants gain new rights to challenge rent hikes.
UK Inflation Jumps as Middle East Conflict Disrupts Trade
Official data shows UK inflation accelerated to 3.3% in March, fueled by Middle East conflict disrupting fuel supplies. The Bank of England faces pressure to reconsider interest rate hikes.
Budget Pressures Intensify as Sectors Demand More Funding
Analysis reveals mounting financial demands from healthcare, education, and infrastructure sectors, straining the UK's budget bottom line amid economic uncertainty.
Chalmers: Iran War to Boost Inflation, Unemployment in Australia
Australian Treasurer Jim Chalmers warns that the war in Iran will push inflation above 5% and increase unemployment, with severe economic fallout expected even after the conflict ends.
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Chalmers: Middle East War Could Severely Impact Australian Economy
Treasurer Jim Chalmers warns that inflation and unemployment may rise due to the Middle East conflict, with economic fallout potentially becoming severe ahead of the federal budget.
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