May Day 2026 rallies sweep the globe as workers protest soaring energy costs driven by the Iran war, with strikes, marches and union action from Paris to Pakistan.
Jerome Powell held rates in what looks like his final meeting as Fed chair, but the 8-4 split, sticky inflation, and a politically charged succession say plenty about what comes next.
The OECD has cut UK growth to just 0.7% and hiked inflation forecasts to 4.0%, making Britain the worst-hit major economy from the Iran conflict thanks to its heavy reliance on energy imports.
The Bank of England has kept interest rates at 3.75 per cent, citing global instability and inflation risks as key reasons for the pause.
Wetherspoons boss Sir Tim Martin warns that rising global oil prices and energy costs will likely lead to higher prices for pints and food in pubs.
Rising tensions in the Middle East could lead to higher food prices and supply chain issues in the UK, according to the National Farmers Union.
As the border between Iran and northern Iraq reopens, thousands are crossing over to find affordable food, stable work, and an internet connection free from government censorship.