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The Latest Breaking News from GDP

Trump may push Albanese on defence spending, but Australia has leverage it can use, too

Ahead of a prospective meeting between Prime Minister Anthony Albanese and US President Donald Trump at the G7 Summit Canada, two key developments have bumped defence issues to the top of the alliance agenda.

The Conversation

Keir Starmer must come to the defence of his chancellor’s spending review

THE INDEPENDENT VIEW: Editorial: In spite of Rachel Reeves’s much-vaunted increase in MoD expenditure, a rise to 2.6 per cent of GDP can only be achieved by draining the overseas aid budget, reallocating intelligence agency funds, and other sleights of hand. When the prime minister faces Nato leaders, including Donald…

The Independent UK

Stocks mixed amid GDP miss and fresh trade worry

The UK economy fell at a faster pace than expected in April, numbers on Thursday showed, as services output slumped.

Evening Standard

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The UK’s small businesses should be fuelling the country’s growth ambitions. Here’s why that’s not happening

The UK government’s spending review has set out its priorities for the next three years. But behind the rhetoric about boosting growth lies growing concern about small businesses being locked out of the wider UK economy. Government funding and regulation are increasingly out of step with the reality of micro-enterprises…

The Conversation

Ben Wallace accuses Labour of ‘conning’ public over defence spending boost claim

Concerns have been raised that the increase in defence spending pledged by Keir Starmer’s government is ‘smoke and mirrors’

The Independent UK

UK economy contracts sharply in April: Will the BoE respond?

UK GDP shrank 0.3% in April, the sharpest drop since October 2023, led by declines in services and manufacturing. Labour market data weakened, fuelling speculation of a Bank of England rate cut in August as recession fears grow.

Euronews

Economy shrinks by more than expected amid record fall in exports to the US

Exports to America fell at the fastest pace on record, down £2 billion in April, according to the ONS.

Evening Standard

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UK economy sees biggest drop since October 2023 in blow for Rachel Reeves

THE UK economy saw the biggest monthly contraction for a year-and-a-half in April in a setback for Chancellor Rachel Reeves ...

The National (Scotland)

Blow for Rachel Reeves after UK economy shrinks by more than expected

The cut to GDP figures will be bad news for the chancellor in her mission to grow the UK economy

The Independent UK

UK economy shrinks by more than expected in April – ONS

Gross domestic product fell by 0.3% in April, compared with growth of 0.2% in March.

Evening Standard

UK’s FTSE 100 share index hits record closing high despite economy shrinking in April – as it happened

UK economy shrank by 0.3% in April, biggest fall since October 2023, as trade with the US slumped.. but FTSE 100 ends at new record close

The Guardian - UK

Spending review delivers big boosts for health and defence – but Rachel Reeves is focused on investment

UK chancellor Rachel Reeves has delivered the government’s spending review, setting out its plans and priorities for the next three years. The aim of the review is of course to allocate spending over that time period – but this government is keen for economic growth and so has directed the…

The Conversation

UK yet to commit to Nato plan for rise in defence spending to 3.5% of GDP

Nato chief Mark Rutte wants members to agree to plan at summit this month but UK remains cautious

The Guardian - UK

2020s on course to be weakest decade for global economy since 1960s, says World Bank

Washington-based lender cuts its forecast for world GDP growth, blaming Donald Trump tariffs

The Guardian - UK

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The Guardian - US

Canadian PM vows to boost defence spending and reduce dependency on US

Carney says Canada will hit Nato target of 2% of GDP five years ahead of schedule amid ‘dangerous and divided world’

The Independent UK

Britons ‘better learn to speak Russian’ without major defence spending hike, Nato chief warns

The Nato secretary general said there is no discrepancy between the UK's current defence spending goals and his own push for members to reach 5 per cent of GDP

Euronews

NATO must boost air and missile defences fourfold to counter Russia's threat, Rutte says

Mark Rutte has urged NATO members on Monday to increase air and missile defences by 400%, warning of a possible Russian attack within five years, advocating for higher military spending targets.

The Guardian - UK

Russia could be ready to attack Nato within five years, says secretary general

In speech in London Mark Rutte says he expects alliance members to agree to raise military spending to 5% of GDP

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Euronews

Invest in defence now or start learning Russian later, NATO secretary general says

The US has appointed a new Supreme Allied Commander to Europe (SACEUR), much to the relief of NATO allies. Ahead of a major summit in The Hague later this month, allies have agreed to raise spending to 5% of GDP and invest in new capabilities designed to deter the threat…

The Independent UK

UK could face up to £30bn of tax rises to fund defence spending boost, economist says

Sir Keir Starmer has vowed to boost defence spending to 2.7 per cent of GDP by 2027, as Nato allies push for ‘dramatic increase’

Newslaundry

The fourth-largest economy hype: What the media didn’t tell you

The International Monetary Fund recently stated that India is set to surpass Japan to become the fourth-largest economy in the world in 2025. While the projection masked the underlying realities of the average Indian, it was enough for the mainstream Indian media to rush to celebrate.

Bored Panda

Best Countries To Live In 2025: What The Rankings Don’t Reveal

Best Countries To Live In 2025: Beyond The Rankings. Which country offers the best quality of life? Explore top destinations like Norway, Sweden and Denmark.

Euronews

Eurozone economy grows by 0.6%: Lagarde shuts door on July rate cut

The eurozone gross domestic product grew by 0.6% quarter-over-quarter in the first quarter of 2025, marking the strongest pace of growth since late 2022. ECB's President Christine Lagarde hinted that a July pause in rate cuts may be warranted.

Euronews

Most NATO members endorse Trump's demand to up defence spending to 5% of GDP, Mark Rutte says

US President Donald Trump insists that US allies should spend at least 5% so America can focus on security priorities elsewhere, mostly in the Indo-Pacific and on its own borders.

Barchart

Elon Musk Supports Warren Buffett’s Idea to Ban All Members of Congress from Re-election if the Deficit Exceeds 3% of U.S. GDP

Buffett and Musk back a proposal barring Congress from reelection if the deficit exceeds 3% of GDP, sparking bipartisan debate on spending.

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