27 hours ago Sadiq Khan says second runway at Gatwick would destroy rationale for Heathrow expansion

The mayor said he understood ‘the importance of aviation to our economy’ while stressing the need to ‘recognise the crisis we face in terms of climate’

Politics

39 hours ago Economic growth could fall 50% over 20 years from climate shocks, say actuaries

Exclusive: Report by risk experts says previous assessments ignored severe effects of climate crisisGlobal economic growth could plummet by 50% between 2070 and 2090 from the catastrophic shocks of climate change unless immediate action by political leaders is taken to decarbonise and restore nature, according to a new report.The stark warning from risk management experts the Institute and Faculty of Actuaries (IFoA) hugely increases the estimate of risk to global economic wellbeing from climate change impacts such as fires, flooding, droughts, temperature rises and nature breakdown. In a report with scientists at the University of Exeter, published on Thursday, the IFoA, which uses maths and statistics to analyse financial risk for businesses and governments, called for accelerated action by political leaders to tackle the climate crisis. Continue reading...

Economics

39 hours ago Global economy could face 50% loss in GDP between 2070 and 2090 from climate shocks, say actuaries

Exclusive: Report by risk experts says previous assessments ignored severe effects of climate crisisThe global economy could face 50% loss in gross domestic product (GDP) between 2070 and 2090 from the catastrophic shocks of climate change unless immediate action by political leaders is taken to decarbonise and restore nature, according to a new report.The stark warning from risk management experts the Institute and Faculty of Actuaries (IFoA) hugely increases the estimate of risk to global economic wellbeing from climate change impacts such as fires, flooding, droughts, temperature rises and nature breakdown. In a report with scientists at the University of Exeter, published on Thursday, the IFoA, which uses maths and statistics to analyse financial risk for businesses and governments, called for accelerated action by political leaders to tackle the climate crisis.This article was amended on 16 January 2025. The headline of an earlier version said that economic growth could fall by...

Economics

27 hours ago The Guardian view on Keir Starmer’s economy: no acute crisis, but chronically weak | Editorial

Labour should ask the Bank of England if it can do more to boost growthRecent days of market turmoil have elicited some extraordinary responses. The fact that investors are demanding higher rates to lend to the UK government apparently puts this Labour government in the same position as Liz Truss in 2022, according to some Labour MPs, or as Denis Healey facing the International Monetary Fund in 1976. Others dub the UK’s current position as stagflation, a term redolent of the 1970s, with their stagnant economy and runaway inflation. The problem with these comparisons is that the latest raft of key economic figures do not bear them out – not quite. The first bit about the stagnant economy is broadly correct: over the three months to November, GDP did not rise at all. But inflation isn’t running away. Indeed, at 2.5%, it’s just above the Bank of England’s target and, crucially, price pressures, both in the service sector and stripping out food and energy, have abated. Seen against thes...

Events

34 hours ago 'King of Benidorm' fears end of Little England as Spain launches 'war on Brits'

EXCLUSIVE: Spain's supposed 'war on Brits' continues as the Spanish government are considering introducing 100% tax on non-EU residents looking to buy property - and the King of Benidorm is not happy

Events

38 hours ago Jack Draper wishes ‘archrival’ Jacob Fearnley well as Britons shine in Melbourne

Draper and Fearnley will both try to reach the fourth round of the Australian Open on Friday.

Events