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OBR role to be investigated by Treasury Committee
Posted onAn inquiry into the role of the UK government’s economic forecaster is being launched by a group of MPs, after the body came under intense scrutiny in the run-up to the Budget. The Treasury Committee will examine the Office for Budget Responsibility’s (OBR) first 15 years and consider potential reforms, including any improvements or changes…
EU steel tariff hike threatens ‘biggest crisis’ for UK industry
Posted onThe EU has announced plans to hike tariffs on imported steel in a move the UK’s steel industry has said could be “perhaps the biggest crisis” it has ever faced. The commission has set out plans to cut the amount of steel that can be imported into the bloc by half – beyond which the…
US sanctions Russian oil companies after failed Putin talks
Posted onBernd Debusmann Jr,at the White House and Max Matza ‘It was time’, says Trump on increase in Russia sanctions The US has announced new sanctions targeting Russia’s two largest oil companies – Rosneft and Lukoil – in an effort to pressure Moscow to negotiate a peace deal in Ukraine. “Every time I speak to Vladimir,…
UK growth slower than expected in third quarter
Posted onGrowth in the UK economy slowed by more than expected to 0.1% in the July-to-September period, official figures show, as car production slumped. The figure was below the 0.2% predicted by analysts, and is a blow to Chancellor Rachel Reeves less than two weeks ahead of the Budget in which she is widely expected to…
How Europe is vying for rare earth independence from China
Posted onJonathan Josephs Reporting fromLa Rochelle, western France BBC Solvay’s rare earths processing facility in western France is one of only two in Europe For almost 80 years rare earth metals have been pumped out of this industrial plant in La Rochelle on France’s west coast. But as the materials become more and more crucial to…
Landmark global shipping deal abandoned under US threats
Posted onA landmark deal to cut global shipping emissions has been abandoned after Saudi Arabia and the US succeeded in ending the talks. More than 100 countries had gathered in London to approve a deal first agreed in April, which would have seen shipping become the world’s first industry to adopt internationally mandated targets to reduce…
