Business

President Trump announced that the US blockade of Iranian ports is proving effective, urging Tehran to “just give up” amid escalating tensions. Iran’s Parliament Speaker dismissed the blockade’s impact, stating it has only increased global oil prices, while tensions in the Strait of Hormuz continue to disrupt markets.

“GDP growth slowed markedly in the summer when the new government began warning of tax hikes,” said Rob Wood, chief UK economist at Pantheon Macroeconomics.

The United States saw a notable rise in inflation last month, driven by spikes in energy and food costs. According to the Labor Department, prices in December increased by 2.9% compared to the same period a year earlier, up from 2.7% in November.

Tulip leaves CITY AM reports on the resignation of Treasury Minister Tulip Siddiq who stepped…

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