Forecast

Bank expects its base case for GDP growth to be 0.5% this year, lower than IMF’s 0.8% prediction for BritainBusiness live – latest updatesLloyds has warned that the economic fallout from the Middle East conflict could cost it £151m amid rising unemployment and inflation and a slowdown in the housing market.The FTSE 100 group, whose brands include Lloyds Bank, Halifax and Bank of Scotland, issued a downbeat economic forecast that it said reflects the stagflationary consequences – the double hit of rising inflation at the same time as slower economic growth – for the UK and global economies. Continue reading...

Severe storms put nearly 50 million at risk and follow a deadly weekend after tornado killed two people in TexasSevere storms are expected to sweep across the mid-Mississippi valley and midwest regions of the US on Monday, putting nearly 50 million people at risk.The storm prediction center has issued a level 4 out of 5 risk for severe thunderstorms across south-west Illinois and south-east Missouri, including major cities such as St Louis. Forecasters warned of “multiple strong to intense tornadoes, widespread severe/damaging wind gusts and scattered large to very large hail”, with some hail potentially reaching baseball size. Continue reading...

Queensland and NSW set for lower than usual rainfall in May, June and July, while temperatures in most of the country likely to be higher than normalFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastLarge parts of south-east Australia look set for drier and hotter conditions over the next three months as a potential El Niño weather phenomenon takes shape in the Pacific Ocean.Much of Queensland and New South Wales are forecast to have lower than usual rainfall in May, June and July, with almost the entire country likely to experience hotter than average maximum temperatures. Continue reading...

• Nvidia shares jumped 5% in extended trading after a strong AI forecast, positioning the company to gain $220 billion in market value amid easing bubble concerns. • The stock had dropped nearly 8% in November following a 1,200% surge over three years, but positive results calmed investor jitters. • This development underscores Nvidia's role as AI market bellwether and highlights sustained demand for its chips.

Firm had to repatriate almost 12,000 guests and staff, including from two cruise ships in Abu Dhabi and DohaThe Iran war has cost the travel company Tui €40m (£34.7m) so far, including repatriating almost 12,000 holidaymakers and staff, and forced it to cut its profit forecast for this year.Europe’s biggest holiday operator said that it had taken the hit in March owing to the impact of the conflict in the Middle East, as it was forced to bring home 5,000 guests from two cruise ships anchored in ports in Abu Dhabi and Doha. Continue reading...

• IMF lowered its 2026 global growth forecast to 3.1% from 3.3% due to US-Iran conflict impacts. • The cut assumes contained conflict with 19% energy price rise, but escalation could drop growth to 2%. • 2027 outlook held at 3.2%, with effects expected to ease by mid-2026.

Thousands face power outages and a number of schools close across region as forecasters warn of hail and floodingSign up for the Breaking News US email to get newsletter alerts in your inboxA day after severe storms damaged communities in the Plains and the midwest, forecasters warned that storms could bring giant hail, tornadoes and severe wind gusts to the regions again on Tuesday afternoon and evening.Authorities in Kansas reported several people with minor injuries after storms passed through on Monday. Three people were left with minor injuries in rural Franklin county, about 50 miles (80km) south-west of Kansas City, according to the sheriff’s office. In the town of Ottawa, officials said there was structural damage, but no deaths or injuries. A National Weather Service survey team will assess damage in the Ottawa area on Tuesday to determine whether a tornado passed through there, according to Chelsea Picha, a meteorologist with the weather service’s office in Topeka. Continue reading...

• Nvidia CEO Jensen Huang announced at GTC 2026 that demand for the company's products will reach $1 trillion through 2027, with fulfillment only possible by 2028. • The revelation underscores explosive growth in AI hardware needs, driven by data center expansions and model training. • Nvidia also released NemoClaw, an open-source stack enhancing privacy and security for the popular OpenClaw AI agent.