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Too many people face a "cliff-edge drop in income" when they retire, with more than three-quarters not on course to save enough for a "moderate" lifestyle, a pensions trade body has warned. A new report by Pensions UK suggested what it termed a moderate lifestyle cost £32,700 a year for one person and £45,400 for two - but estimated just 23% of the working population would reach such a level.more

House prices fell in the UK for the first time this year in May, as rising interest rates triggered by the war in Iran hurt homebuyer demand. The price of the average UK home dropped 0.6% in May compared with the month before, according to the lender Nationwide.more

Which? is calling for urgent policy interventions to help households nearing breaking point over the spiralling cost of living. We've outlined a series of calls to lower household costs in a manifesto to tackle unfair rip-offs and improve access to essentials. This follows our research findings that most UK adults (85%) are now worried about food prices.more

Resident doctors in England will next month stage the 16th strike in their long-running jobs and pay dispute, and have blamed the new health secretary for their decision.more

According to data from the Central Statistical Office (GUS), the value of Polish exports of goods to the United Kingdom – Poland’s fourth-largest export market – stands at PLN 79.4 billion. At the same time, the UK does not feature in the top ten countries from which we import the most.more

Households will face the steepest summer rise in energy charges in four years after months of soaring market prices caused the government’s energy price cap for Great Britain to climb by 13%. Under the cap the average gas and electricity bill will increase to the equivalent of £1,862 a year from July until the end of September to take account of the rise in global energy market prices.more

Higher prices could persist over the summer even if ceasefire talks between the US and Iran bear fruit, consumers have been warned, with economic shock waves likely to be felt “for many months to come”.more

The UK would be keen to replicate the EU’s agreement with Mercosur, according to a report by Euractiv based on an interview with the UK’s Trade Minister, Chris Bryant. He said that London is considering concluding such an agreement because the EU deal has put British manufacturers at a disadvantage.more

Government ministers are pressing supermarkets on cutting costs for shoppers but will not force them to cap prices on essentials such as eggs, bread and milk. Multiple supermarket sources told the BBC that the government had urged them to voluntarily freeze the price of key groceries, in return for an easing of regulations.more

Millions of people around the world face starvation if Iran does not stop blocking the Strait of Hormuz, warned Yvette Cooper, the UK Foreign Secretary, in a speech in London on Tuesday.more

The number of UK job vacancies has fallen to its lowest level in five years and unemployment has ticked higher as the initial impact of the Iran war on businesses starts to be seen.more

Households are facing a significant increase in their energy bills from July, with predictions indicating the price cap will rise by £209 annually, partly attributed to the fallout from the Iran war. more

Unemployment in France rose to 8.1 per cent in the first quarter of this year, reaching its highest level since 2021, the national statistics office INSEE reported yesterday. Compared with the previous quarter, the number of unemployed people rose by 68,000 to 2.6 million.more

Consumer spending is set to pull back sharply as an inflation spike caused by the Iran war takes its toll on household finances and the wider economy, according to a report.more

UN Secretary-General António Guterres warned on Thursday that an escalation of the crisis in the Strait of Hormuz could plunge tens of millions of people into poverty. It also threatens to cause a sharp rise in global hunger and could push the global economy to the brink of recession.more

The United States will lift tariffs on Scotch whisky, President Donald Trump announced on Thursday, explaining that he made the decision in honor of Great Britain's King Charles III and his wife, Queen Camilla, who are concluding a state visit to the United States.more

The Bank of England has kept its main interest rate at 3.75 per cent, the bank announced in a statement issued today following the conclusion of its meeting.more

With the world’s food supply chain under pressure from the war in Iran, experts are warning shoppers that they may soon see shortages and higher prices at British supermarkets. more

All Claire's standalone stores in the UK and Ireland have stopped trading after the accessories chain's financial woes saw it fall into administration twice in a year.more

Fiona Hill, former director for European and Russian affairs in the National Security Council in Donald Trump's first administration, describes the UK’s contingencies for dealing with present and future disruptions as “not fit for purpose”.more

Minister Darren Jones warns that the economic effects of the Iran conflict will push up energy, food and flight prices for at least eight months after hostilities end.more

London’s wealthiest boroughs have seen house prices fall by double digits, official figures show. The City of Westminster, including wealthy areas such as Mayfair and Knightsbridge, saw house values drop 12.7 per cent between February this year and last year, according to the Office for National Statistics. more

The boss of Tesco has said the supermarket giant will do “whatever we can” to keep down the price of food for shoppers as it warned that uncertainty linked to the Iran war is clouding its outlook for profits. The UK’s largest supermarket chain said it has not yet seen any impact on product availability or prices, excluding fuel, since the conflict began at the end of February.more

The cost of fish and chips is set to soar as British fishermen get battered by rising diesel prices. more

Employment data, coupled with weakened activity of employers seeking workers, will mean increasing competition for positions and longer job search times, PZU economists assessed.more