International Monetary Fund warns Iran conflict could spark global recession
Business
The IMF is sounding the alarm: If the conflict in Iran drags on, we could be looking at a worldwide recession.
Oil prices have already shot past $100 a barrel, and this kind of risk has only come up five times since 1980.
UK growth forecast cut to 0.8%
The UK is facing the sharpest economic downgrade among major economies. Its growth forecast just got slashed to 0.8% as inflation rises.
UK Chancellor Rachel Reeves is calling for countries to work together on solutions at a big finance meeting in Washington.
Meanwhile, the IMF says governments should focus on targeted actions instead of broad financial fixes that could hurt regular people and businesses.