The Scottish government has unveiled its Scottish Budget 2026, setting out tax and spending plans that prioritise modest tax cuts for the lowest earners while acknowledging significant constraints on public finances.

Finance secretary Shona Robison confirmed changes to Scotland’s income tax system aimed at easing cost-of-living pressures for those on lower incomes. The move reflects the SNP government’s commitment to a progressive tax approach using devolved powers, while maintaining higher rates for better-paid workers.

Alongside the tax measures, the budget highlights ongoing pressure on public spending. Funding for key areas such as health, education and local government is set against rising costs, ...

Renewed criticism of the Federal Reserve by Donald Trump has drawn warnings from leading banks and renewed debate over the independence of the US central bank, a cornerstone of financial market stability.

Trump has publicly questioned interest rate decisions and the leadership of the Federal Reserve, intensifying political pressure on the institution as it navigates inflation risks, slowing growth and uncertainty over future rate cuts. His comments have placed Fed chair Jerome Powell under increased scrutiny at a time when monetary policy signals are closely watched by markets.

Major financial institutions, including JPMorgan Chase, have warned that sustained political attacks on the ...

US inflation appears to be picking up again, with economists closely watching the next Consumer Price Index (CPI) release after concerns that earlier data understated price pressures. The November inflation report showed signs of cooling, but those figures were affected by data collection problems linked to the federal government shutdown.

During the shutdown, the Bureau of Labor Statistics was unable to gather a full set of price data, relying instead on assumptions and partial information. Economists say this likely pushed reported inflation lower than underlying conditions justified, creating a misleading snapshot that is now expected to correct.

Core CPI, which excludes ...

Russia’s economy is entering a period of weaker growth as declining oil prices and ongoing international pressure reduce export revenues and strain public finances. Energy income remains central to the country’s budget, but lower global prices have narrowed fiscal room and increased reliance on state support measures.

Economic analysts and intelligence assessments suggest that while the economy has avoided a sharp collapse, growth momentum has slowed markedly. High military spending and sanctions-related constraints have redirected resources away from civilian sectors, contributing to stagnation in investment and productivity.

Officials in Russia have highlighted resilience in domestic industry and trade with non-Western partners, but ...

Germany’s export-led economic model is facing sustained strain as demand from key markets, including the United States and China, continues to weaken. Economists warn that the slowdown is likely to persist, weighing on industrial output and broader economic growth.

German exporters, particularly in manufacturing-heavy sectors such as machinery, chemicals, and automobiles, have been hit by slowing global trade, higher costs, and subdued overseas investment. Reduced orders from major trading partners have added pressure to an economy already grappling with high energy prices and structural challenges.

Business surveys indicate that export expectations remain weak, with companies reporting limited visibility on recovery timelines. Analysts ...