BriefTea
Every story in sixty words
General · 5 May 2026
Households and businesses globally face increased expenses from the Middle East energy crisis. Analysis indicates the global economy could incur up to a trillion dollars in additional costs, while oil firms make huge profits from higher fuel prices. The UK economy alone might suffer a £35 billion hit, and risks a recession this year, as warned by Niesr.
Reported by Guardian · How we write briefs
More briefs
WorldIran's unseen supreme leader urges Gulf countries to fight a shared enemy BusinessIceland supermarket boss tells the Chancellor to cut business taxes for employers GeneralNigel Farage's £5m donor has major stakes in arms industry PoliticsTreasury officials advise John Healey to tax banks and oil companies more HealthCorrecting hearing loss can cut dementia risk by almost half GeneralNotting Hill Carnival parade begins as Europe's biggest street party More top stories → Browse all stories →