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| | UK only major economy forecast to shrink this year | |  | | | | | | | | | The economic outlook was already gloomy. But now the International Monetary Fund has downgraded its forecast for the UK, suggesting that instead of experiencing weak growth, its economy will shrink by 0.6% this year. Of the world's advanced and emerging economies, only the UK's is expected to suffer a year of declining GDP - a measure of how well (or badly) an economy is faring. Read what's behind the bleak assessment.
If GDP falls for two quarters in a row, it becomes a recession - typically meaning companies make less money and unemployment rises. The forecast raises questions as to why the UK is expected to miss out on improved global prospects, with even sanctions-hit Russia expected to grow, says our economics editor, Faisal Islam. However, the IMF does believe the UK economy is "on the right track" after the Autumn Statement. And Chancellor Jeremy Hunt argues "short-term challenges should not obscure our long-term prospects". The government says the UK is forecast to grow faster than Japan and Germany from 2022-24. | | | | | |
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| | MPs back powers to limit strike disruption | | | | | | | | | MPs have backed a law to force some employees - such as in the rail industry or emergency services - to maintain minimum service levels by working during strikes. Under the bill, workers in England, Scotland and Wales could be sacked for refusing to turn up during industrial action. It won't impact on the current strikes because it is yet to be passed by the House of Lords. Business Minister Kevin Hollinrake says the law will find a "reasonable balance" between the ability to strike and protecting the lives and livelihoods of the public. But Labour's Angela Rayner says it will allow ministers to threaten key workers "on a whim". Read the detail. | | | | | |
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| | Kate launches early years campaign | | | | | | | | | It's being described by Kensington Palace sources as the "life's work" of the Princess of Wales. And now Catherine has enlisted celebrities and scientists to promote a campaign about the importance of early childhood - a period she says "fundamentally shapes our whole lives". The princess is said to have been driven not by her experience as a mother but by meeting people whose problems with mental health or addiction had origins in their early years. The campaign includes a 90-second animation showing children's development, to be shown ahead of films in UK cinemas from Friday. See who's backing the Shaping Us campaign. | | | | | |
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| | | | | | | | | | | Like it - or not - it has been three years since the UK left the European Union. Since then there has been a pandemic, swiftly followed by an energy crisis. That has made it hard to decipher exactly what the impact of Brexit has been. The latest data suggest a hit to the economy - but in some unexpected ways.
As the UK pulled out of the single market and customs union in 2021, companies trading with the EU faced new rules, new paperwork and new checks on some goods. There was an initial dip in the amount the UK exported to the EU. Once teething problems were dealt with, trade volumes recovered to pre-pandemic levels. But it could be argued trade might have grown more. | | | | | | | | | | | | Dharshini David | | Global trade correspondent | | | | | | | | | | | |
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| | | | | | | A prediction that the UK will be the only major economy to shrink this year leads several papers. The Guardian says the International Monetary Fund's updated forecast was prompted by "the impact of Liz Truss's brief premiership". In light of the report, the Daily Mail urges ministers to cut tax and "go for growth" - something the chancellor is resisting, according to the Daily Telegraph. Meanwhile, the Daily Star says family finances are so tight, people have cut back on toilet roll. "We've really hit the skids," it suggests. See all the front pages. | | | | | |
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| | | | | Ukraine Joe Biden rules out sending F-16 fighter jets | | | | | | | Investigation How Egyptian police hunt LGBT people on dating apps | | | | | | | Presleys Priscilla contests validity of Lisa Marie's will | | | | | | | Eurovision Check out event logo as Liverpool takes on hosting duties | | | | | | |
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| | If you watch one thing today | | | | | | | | | | |
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| | If you listen to one thing today | | | | | | | | | | |
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| | If you read one thing today | | | | | | | | | | |
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| | Need something different? | | | | | | | | | Remember Mr Blobby? You might prefer to forget the clumsy pink spotty character from 1990s show Noel's House Party but someone was keen enough to bid £62,000 when an original costume was listed on eBay. That wasn't the end of the story, however. Find out what happened next?
On the subject of questionable buys, there have been plenty across two decades of football's January transfer window, with a whopping £3bn shelled out by English clubs. With just hours left to secure players, we look back at the best - and worst - mid-season signings. Take a look.
You'd need a gold mine to cover some of the transfer fees that will doubtless be forked out later. But did you know there's one such facility in Scotland? It's ramping up extraction, so BBC Scotland's business correspondent David Henderson took a visit. See what he found. | | | | | |
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| | | | | 2000 Greater Manchester GP Harold Shipman is jailed for life for murdering 15 of his patients. | | | | | | |
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| | | Let us know what you think of this newsletter by emailing bbcnewsdaily@bbc.co.uk. If you’d like to recommend it to a friend, forward this email. New subscribers can sign up here. | | | | | |
