Headline

UK GDP Records Fastest Growth In Q1 2025

Published

11 months ago

June 30, 2025

The United Kingdom recorded its fastest economic growth in over a year during the first quarter of 2025, boosted by a surge in home buying ahead of a property tax deadline and increased manufacturing activity in anticipation of new United States tariffs, Reuters reported.

According to the Office for National Statistics, the economy expanded by 0.7 percent between January and March, the strongest quarterly growth since early 2024.

“UK gross domestic product is estimated to have grown by 0.7% in Quarter 1 (Jan to Mar) 2025, unrevised from the first estimate,” it said on X on Monday.

The figure confirms earlier estimates and marks a sharp contrast to the 0.1 percent growth seen in the final quarter of last year.

Reuters reported that ONS also revised March’s growth upward to 0.4 percent, from an initial 0.2 percent. However, the economic boost may prove short-lived. Preliminary data already shows a 0.3 percent contraction in April, partly due to one-off disruptions.

The Bank of England projects a more modest 0.25 percent growth for the second quarter. Finance Minister Rachel Reeves is hoping the uptick will continue, easing pressure to introduce further tax hikes as the government works to meet its fiscal goals.

The strong first quarter was driven in part by a rush of property transactions before the March 31 expiration of a homebuyer tax break. Household spending rose by 0.4 percent, revised up from 0.2 percent, fueled by expenditures on housing, household goods, services, and transport.

To finance this spending, households dipped into their savings, though the savings ratio remains robust at 10.9 percent.

Manufacturers also ramped up output early in the year, anticipating new import tariffs planned by US President Donald Trump. Some of these proposed tariffs have since been suspended, easing business uncertainty.

Chief economist at RSM UK, Thomas Pugh, noted that earlier weakness in consumer spending and hiring was likely a temporary response to tax changes and trade uncertainty.

“Now that uncertainty has started to recede, consumer confidence is rebounding, and business surveys suggest the worst of the labour market pain is behind us,” he said.

A recent survey indicates that employer confidence in the UK has reached a nine-year high, with optimism growing about the economic outlook. The Bank of England is expected to cut interest rates twice more this year, potentially bolstering consumer spending.

Headline

‘Pioneer Of Cable TV News’: Key Facts About CNN Founder, Ted Turner

Published

1 week ago

May 9, 2026

Editor

Ted Turner, the media businessman who founded CNN died at the age of 87. He died peacefully on Wednesday, surrounded by family, according to Turner Enterprises.

Contents

Launched 24-hour news television

Built a media network

Expanded through sports

Recognition and influence

Philanthropy and global causes

Environmental efforts

Health and later years

Early career path

Leadership and legacy

Personal life

Exit from business

Family

Below are key facts about his life and impact:

Launched 24-hour news television

Turner founded CNN on June 1, 1980, introducing the first 24-hour news channel and changing how audiences follow global events.

Built a media network

He moved from billboards into broadcasting, turning an Atlanta TV station into a national superstation in 1976. His business later grew to include CNN International, TNT, Turner Classic Movies and Cartoon Network.

Expanded through sports

Turner invested in sports broadcasting and owned teams including the Atlanta Braves and the Atlanta Hawks, using television to reach wider audiences.

Recognition and influence

In 1991, he was named Time magazine’s Man of the Year for his role in shaping modern news coverage.

Philanthropy and global causes

He founded the United Nations Foundation and supported campaigns against nuclear weapons. In 1997, he pledged $1 billion to the United Nations.

Turner supported conservation work, including reintroducing bison in the United States, and backed environmental education through the “Captain Planet” cartoon.

Health and later years

In 2018, Turner revealed he had Lewy body dementia. He also recovered from a mild case of pneumonia in early 2025.

Early career path

He took over his father’s billboard company at 24 after his father’s death and later expanded into radio and television, despite limited experience in journalism.

“I worked until 7 o’clock, and when I got home the news was over,” he once said. “So I missed television news completely. And I figured there were lots of people like me.”

Leadership and legacy

“Ted was an intensely involved and committed leader, intrepid, fearless and always willing to back a hunch and trust his own judgement,” Mark Thompson, Chairman and CEO of CNN Worldwide, said in a statement. “He was and always will be the presiding spirit of CNN. Ted is the giant on whose shoulders we stand, and we will all take a moment today to recognize him and his impact on our lives and the world.”

Personal life

Turner married actress Jane Fonda in 1991, and they later divorced after 10 years, though they remained close.

“I would never love anyone like I love him,” she said. “But I just couldn’t keep moving in his world, along the surface for the rest of my life. I knew that I would get to the end of my life and regret not doing the things that I also needed to do for me.”

Exit from business

He sold his company to Time Warner in 1996 and later stepped away following its merger with AOL.

Reflecting on his life, Turner once said: “I lost Jane. I lost my job here. I lost my fortune, most of it. Got a billion or two left. You can get by on that if you economize.”

Family

He is survived by his five children, 14 grandchildren and two great-grandchildren.

Headline

Iran’s Nationwide Internet Shutdown Hits 70 Days

Published

1 week ago

May 9, 2026

Editor

NetBlocks, a monitoring group, has disclosed that an internet shutdown enforced by the Iranian regime has entered its 70th day, severing key access from swathes of the population under the shadow of war.

NetBlocks reported on Friday that the blackout has now surpassed 1,656 hours, marking more than two months since US-Israeli strikes pounded Tehran and escalated across the Middle East.

“Digital connectivity is vital in times of crisis,” NetBlocks said in a post on X. “Limiting service harms those most in need – people with disabilities, students, small businesses and the general public.”

According to CNN, Iran imposed a separate internet shutdown on the country’s 92 million people earlier this year, when it launched the most lethal crackdown on anti-government protesters since the Islamic Republic’s founding 47 years ago.

CNN further reports that the latest blackout has cut off another potential lifeline for Iranian residents faced with high unemployment and economic pressure exacerbated by the US-Israeli campaign.

(CNN)

Headline

Gas Prices In US Edge Down After Two Weeks Of Increases

Published

1 week ago

May 9, 2026

Editor

The cost of a gallon of regular gas in the United States (US) has edged down a little more than a penny to $4.55.

According to AAA’s readings, this marks the first decline in the average gas price after 15 straight days of increases.

The decline is minuscule compared to the large increases in gas prices over the last two weeks.

According to CNN, gasoline costs rose an average of nearly 4 cents a day during that period and had several daily increases of between 7 and 9 cents.

Also Read: Trump insists US-Iran ceasefire intact despite recent exchange of fire

CNN also reports that based on past gas spikes, it will likely take weeks for gas prices to get down below $4 a gallon.

The report, however, states that a previous two-week stretch of gas price declines only shaved 14 cents off the average price, taking the average price to $4.02, before the recent 15-day run of increases.

According to CNN, it could take months for the average price to fall below $3 per gallon, as it did before the war in Iran.

CNN further reports that only one state – Oklahoma – now has an average price of less than $4 a gallon, and its average stands at $3.98. California has the highest average price at $6.16.

(CNN)