The European Parliament has approved legislation to put an EU‑US trade framework into effect, but only after adding measures to protect European interests.Lawmakers insisted on conditions that would force a pause or end the deal if Washington fails to meet its commitments.MEPs voted 417 in favour, 154 against and 71 abstained. The text still needs formal approval from all 27 EU governments...

Senior US officials are warning that the fallout from the conflict with Iran could trigger a major retreat of Gulf capital from the United States.President Donald Trump is set to convene a Cabinet meeting to address the growing tensions and their wider implications.A report in Politico cites anonymous insiders who say strikes linked to Iran have alarmed Gulf leaders. Officials from countries...

The government-backed savings institution National Savings and Investments is preparing to make large payouts after admitting mistakes that left customers without money to which they were entitled.Ministers will discuss the issue in Parliament as officials try to work out the final bill.Officials estimate the problems could affect roughly 37,000 customers. NS&I, which looks after about 24...

A major industry group is warning the UK it must boost domestic oil and gas production to avoid growing dependence on imported fuel as global tensions push prices higher.Offshore Energies UK (OEUK) says the government should rethink its ban on new North Sea exploration licences, arguing that Britain risks exposure to supply shocks if more home-grown output is not allowed.Energy markets have...

Larry Fink, chief executive of asset manager BlackRock, warned that oil at around $150 a barrel would likely push the global economy into a deep downturn.He told the BBC that if tensions with Iran persist and energy prices remain elevated, the fallout would be severe for growth and living standards.Fink, who runs a firm with about $14 trillion under management, outlined two broad paths for the...

A leading offshore trade group has urged the UK government to allow more North Sea oil and gas activity, warning that shrinking domestic output is leaving the nation exposed to volatile global markets.Offshore Energies UK (OEUK) said recent supply shocks and rising crude prices have underlined the need for more home-grown hydrocarbons to reduce import dependence.The trade body pointed to...

A fresh shock from the Middle East has sent energy markets reeling and reopened a debate Europe hoped it had settled.Months after stepping away from Russian fuels, EU capitals now face sharp price jumps and renewed political pressure as supplies tighten.After Russia’s 2022 invasion of Ukraine, the EU moved quickly to cut dependence on Moscow. Oil flows from Russia have almost disappeared for...

Chancellor Rachel Reeves has ignited a fresh political row after urging closer economic cooperation with the EU as a route to greater resilience.Speaking at the Mais lecture hosted by Bayes Business School in London, Reeves argued the UK should deepen its economic links with Europe to shore up growth and stability.Her call has prompted sharp criticism from opponents who say seeking tighter...

Chancellor Rachel Reeves will set out her Budget in the House of Commons around 12:30 GMT, facing pressure to find extra revenue while promising investment to cut NHS waiting lists and tackle the cost of living.She has flagged that tough but fair decisions are needed to reduce national debt and drive growth, with an immediate response from opposition leader Kemi Badenoch expected after the...

The government has announced a rise in the national minimum pay that will take effect from April, with adults aged over 21 set to receive an extra 50p an hour, lifting the rate to £12.71.Chancellor Rachel Reeves said around 2.7 million workers will benefit from the increases.Younger workers will also see larger percentage gains. Pay for 18 to 20-year-olds will increase by 85p to £10.85 an...