
-
Ukraine mourns 18 killed in Russian missile strike
-
Germany's Mueller to leave Bayern Munich after 25 years
-
Verstappen snatches 'special' pole for Japan GP with lap record
-
Cambodia hails opening of naval base renovated by China
-
Verstappen snatches 'insane' pole for Japan GP in track record
-
Thousands rally for South Korea's impeached ex-president Yoon
-
Myanmar quake death toll passes 3,300: state media
-
India's Modi in Sri Lanka for defence and energy deals
-
'No one to return to': Afghans fear Pakistan deportation
-
Fractious Republicans seek unity over Trump tax cuts
-
America's passion for tariffs rarely pays off, economists warn
-
Trump's global tariff takes effect in dramatic US trade shift
-
North Korea's Kim fires new sniper rifle while visiting troops
-
Norris fastest in McLaren 1-2 as fires again disrupt Japan GP practice
-
Vital European defence startups still facing hurdles
-
'I don't have a voice in my head': Life with no inner monologue
-
Pakistan chasing 265 to win shortened third New Zealand ODI
-
US soybeans, energy: Who is hit by China's tariff retaliation?
-
Green, Sengun lift Rockets over Thunder, Celtics clinch record
-
Ariya downs defending champ Korda to advance at LPGA Match Play
-
Ovechkin ties Gretzky's all-time record of 894 NHL goals
-
Under-pressure Doohan vows to learn from Japanese GP smash
-
Harman goes four clear at Texas Open
-
McLaughlin-Levrone, Thomas cruise to wins at opening Grand Slam Track
-
US cardinal defrocked for sex abuse dies at 94
-
Lula admits 'still a lot to do' for Indigenous Brazilians
-
England, Germany and Spain on mark in women's Nations League
-
Judge orders return to US of Salvadoran man deported in error
-
Amadou of Malian blind music duo dies aged 70
-
Freeman hat-trick eases Northampton into Champions Cup quarters with Clermont win
-
Defiant Trump dismisses stock market's tariff plunge
-
Musiala injury sours Bayern win at Augsburg
-
Peruvian schoolkids living in fear of extortion gangs
-
Top seed Pegula rallies to oust defending champ Collins in Charleston
-
Amadou of Malian blind music duo Amadou & Mariam dies aged 70
-
California to defy Trump's tariffs to allay global trade fears
-
Bayern's Musiala subbed off with injury days out from Inter clash
-
Russian strike kills 16 in Ukraine leader's home city, children among dead
-
NBA fines Grizzlies' Morant for imaginary gun gesture
-
Trump tariffs offer opportunity for China
-
UK comedian Russell Brand charged with rape
-
Marsh, Markram help Lucknow edge Mumbai in IPL
-
Israel attorney general accuses PM of 'conflict of interest' in security chief dismissal
-
Emery glad to see Rashford make landmark appearance
-
Sean 'Diddy' Combs faces more charges ahead of criminal trial
-
Russian missile strike kills 14 in Ukraine leader's home city
-
Trump's tariff Big Bang puts global economy under threat
-
I Am Maximus backed for National as Mullins hot streak continues
-
2014 World Cup winner Hummels to retire at season's end
-
Intercommunal violence kills dozens in central Nigeria
BCC | 0.85% | 95.44 | $ | |
SCS | -0.56% | 10.68 | $ | |
NGG | -5.25% | 65.93 | $ | |
RBGPF | 100% | 69.02 | $ | |
CMSC | 0.13% | 22.29 | $ | |
GSK | -6.79% | 36.53 | $ | |
BCE | 0.22% | 22.71 | $ | |
BTI | -5.17% | 39.86 | $ | |
CMSD | 0.7% | 22.83 | $ | |
RIO | -6.88% | 54.67 | $ | |
BP | -10.43% | 28.38 | $ | |
JRI | -7.19% | 11.96 | $ | |
RELX | -6.81% | 48.16 | $ | |
RYCEF | -18.79% | 8.25 | $ | |
AZN | -7.98% | 68.46 | $ | |
VOD | -10.24% | 8.5 | $ |

UK economy rebounds by record 7.5% from pandemic in 2021
Britain's economy grew by a record 7.5 percent last year on easing Covid curbs after a pandemic-driven collapse, official data showed Friday, but analysts warned that sky-high inflation clouds the 2022 outlook.
The expansion, which was the fastest since records began in 1948, followed a record 9.4-percent slump in 2020, the Office for National Statistics (ONS) added in a statement.
Economies across the world were slammed in 2020 by the deadly pandemic, which sparked lockdowns and other public health restrictions that have since been largely removed.
The ONS added Friday that the UK economy increased by 1.0 percent in the fourth quarter despite the emergence of the Omicron Covid variant, matching its expansion in the third quarter.
- December hit by Omicron -
However, gross domestic product dipped 0.2 percent in December on fallout from the rapid spread of Omicron -- which is widely regarded as less dangerous than previous variants but hit the travel sector.
"GDP fell back slightly in December as the Omicron wave hit, with retail and hospitality seeing the biggest impacts," said ONS director of economic statistics Darren Morgan.
"However, these were partially offset by increases in the Test and Trace service and vaccination programmes.
"Despite December's setback, GDP grew robustly across the fourth quarter as a whole with the NHS (National Health Service), couriers and employment agencies all helping to support the economy," added Morgan.
December activity held at its February 2020 level, before Covid struck.
Yet the fourth quarter of 2021 was slightly below that of the same period in 2019.
- 'Remarkably resilient' -
British finance minister Rishi Sunak welcomed the data.
"The economy has been remarkably resilient; with the UK seeing the fastest growth in the G7 last year," he said in a statement, noting it was boosted by the government's vast stimulus measures and speedy vaccination drive.
"I'm proud of the resolve the whole country has demonstrated, and proud of our incredible vaccine programme which has allowed the economy to stay open."
The UK government is plotting the nation's full emergence from the long-running health emergency.
England will scrap the legal requirement to self-isolate after testing positive for Covid-19 later this month if infection levels remain stable, Prime Minister Boris Johnson unexpectedly announced Wednesday.
The proposed move would be one of the most dramatic easings of coronavirus rules taken by any country so far in the pandemic, as Johnson doubles down on a strategy of trying to "live with Covid".
England in late January lifted almost all remaining Covid restrictions that had been reimposed in early December to tackle Omicron.
- Cost of living crisis -
Despite Friday's bright data, economists warn the UK outlook is darkened by a cost of living crisis that has been fuelled by rocketing domestic energy costs.
Economies worldwide are battling decades-high inflation that is forcing central banks to lift interest rates, including the Bank of England which this month raised its key borrowing cost for the second time in a row.
Britain is experiencing the highest rate of annual inflation in nearly 30 years, while the cost of living is set to soar further from April owing to a tax hike on UK workers and businesses plus increases in energy bills.
"While the downside risks from Omicron have receded, the recovery now faces the more conventional economic challenge of high inflation," said EY ITEM Club economist Martin Beck.
"Consumers (are) facing the biggest squeeze on spending power in more than a decade," he added.
UK annual inflation struck 5.4 percent in December, stoking fears of a cost-of-living squeeze as wages fail to keep pace.
The BoE this month hiked interest rates to 0.50 percent -- and forecast inflation would peak at 7.25 percent in April.
A.P.Maia--PC