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UK To Suffer More Than Most This Year — FT

Britain faces one of the worst recessions among the world’s leading industrialized nations this year, the Financial Times has reported, citing economists.

In an annual poll of 101 leading UK-based economists, the majority told the outlet that the fallout from spiralling inflation, triggered by the pandemic and the Ukraine conflict, will persist for longer in the UK than in other G7 nations, and the country’s recovery will be one of the weakest. GDP will shrink for most of 2023, the government will have to run a tight fiscal policy, and the Bank of England will keep interest rates high, the report said.

John Philpott, an independent labour market economist, told FT that “the 2023 recession will feel much worse than the economic impact of the pandemic.” Other respondents described the outlook for consumers – especially those on low income...

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Explained: What we know about Ukraine’s deadliest attack on Russia since the conflict began
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Disclaimer: A number of claims and counterclaims are being made on the Ukraine-Russia conflict on the ground and online.

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After 100 hours of rescue operation, 10-year-old Vietnamese boy trapped into 30-metre concrete pillar dies
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A 10-year-old Vietnamese boy who fell into a hollow concrete pillar at a construction site on New Year’s Eve died on Wednesday despite authorities’

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Meta hit with US$413 million fine over EU privacy breach
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Regulators in the 27-nation bloc of the European Union fined Facebook parent firm Meta hundreds of millions of euros for privacy breaches on Wednes

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Tech giant Salesforce joins the layoff bandwagon; fires 10% of its workforce
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Cloud computing firm Salesforce announced on Wednesday that it was closing numerous offices and laying off roughly 8,000 workers, or nearly 10% of

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US regulators warn banks over cryptocurrency risks after FTX collapse
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US regulators issued a warning to the banks over the risk associated with the cryptocurrency market, following the spectacular collapse of crypto e

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In 2023, China seeks to 'correct course' with United States
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In the foreign policy establishment of China, the dawn of 2023 has accompanied the rise of two individuals: Wang Yi and Qin Gang.

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Biden wants Republicans to get their 'act together' on House speaker voting
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Macron promises Zelensky light combat tanks to help battle Russian forces
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French President Emmanuel Macron told his Ukrainian counterpart Volodymyr Zelensky on Wednesday that his nation will send light tanks produced in F

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Sales­force to cut 10% of work­force in lat­est tech lay­offs
News | Today's latest from Al Jazeera (RSS)

It said it needs to cut costs af­ter rapid pan­dem­ic hir­ing left it with ‘too many peo­ple’ amid an eco­nom­ic slow­down.
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UK PM pledges to halve in­fla­tion, fix NHS in first speech of 2023
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Pho­tos: Ex­perts warn of eco­log­i­cal threat from Mayan Train route
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Mex­i­co hopes the rail­way will boost the econ­o­my and re­duce pover­ty, de­spite con­cerns about its en­vi­ron­men­tal im­pact.
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Top 10 world news: WHO asks China to provide 'more realistic picture' of Covid-19 situation & more
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In the latest news from around the world, the United States Centers for Disease Control and Prevention (CDC) has said Omicron offshoot XBB.1.5 may

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Colombian govt suspends 'ceasefire' with National Liberation Army rebels after denial by group
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The Colombian government said on Wednesday that the interior ministry has decided to suspend the ceasefire agreement with the National Liberation A

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Pakistani Taliban threaten harm to top Pakistani leadership for waging war against it to please US
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The proscribed terrorist outfit, Tehreek-e-Taliban Pakistan (TTP), has threatened to eliminate the ministers of the ruling coalition governmentâ€" Pr

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Walmart gets $1 billion in tax bill for shifting PhonePe base to India: Report
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Walmart Inc.

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Ukraine Promises Strikes ‘Deeper’ Into Russia

There will be new strikes deep into Russian territory, Kirill Budanov, Ukraine’s top spy said on Tuesday. However, he neither denied, nor claimed responsibility for a recent attack on a Russian military facility.

Speaking to ABC News, Budanov, who heads Kiev’s Main Intelligence Directorate, was asked whether it was Ukraine which had conducted a recent attack on a Russian airbase. “I can’t give an answer right now to this question. Only after [the] ending of this war,” he replied, adding, though, that he was “glad” to see the strike.

In recent weeks, Moscow has on numerous occasions accused Kiev of carrying out strikes on its military facilities inside Russian territory. Last week, the Russian Defense Ministry said that a Ukrainian drone attempted to target the Engels airfield in Saratov Region, which hosts strategic bombers.

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Current Covid wave from China must be taken 'very very' seriously: Germany
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German Foreign Minister Annalena Baerbock said on Wednesday (January 4) that the current Covid wave from China must be taken "very very" seriously.

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