Bank of England hints at higher rates as Iran war fuels inflation

But, Roy added, the Treasury and the Department of Work and Pensions are coming back to perceived unaffordability of Westminster’s welfare budget, so we can expect new approaches to cuts and reduced entitlement. If that goes ahead, Holyrood will find itself facing further cuts in block grant.

Craig WilliamsBBC Scotland Getty Images Government bonds allow money to be raised through the markets The Scottish government is “on track” to issue its first ever bonds in the next financial year, according to the first minister. John Swinney confirmed bonds should be issued in 2026-27, though this is subject to the outcome of May’s…

The war in the Middle East is less than a month old, but its impact is already being felt widely. In the UK on Thursday, the Bank of England held interest rates at 3.75% on Thursday – after an earlier expectation they could be cut – with a warning that inflation could tick up. Ahead…

The past two weeks have been dreadful for Jaguar Land Rover (JLR), and the crisis at the car maker shows no sign of coming to an end. A cyber attack, which first came to light on 1 September, forced the manufacturer to shut down its computer systems and close production lines worldwide. Its factories in…

The late owner of streaming platform OnlyFans was paid more than $700m (£513m) in dividends before his death from cancer earlier this year. Fenix International Ltd, the British company that owns OnlyFans, made $714m in profit before tax last year, it said in its annual report. This is an increase of 5% from 2024. The…

As the US and Israel continue strikes on Iran, and with retaliatory strikes hitting nearby Middle East states, key shipping routes are being disrupted. Oil and gas production in the region is also being affected. The BBC’s Nick Marsh examines how the war could cause a rise in living costs around the world.