'We have a responsibility:' Trudeau urges global leaders to support pact for future
Prime Minister Justin Trudeau is telling world leaders to either bury their heads in the sand or put differences aside for the sake of future generations.
The United Kingdom's economy shrank in the three months to June, figures released Friday showed -- a smaller-than-expected contraction that nevertheless added to jitters about the .
The Office for National Statistics said Britain's gross domestic product fell by 0.1 per cent between April and June, down from 0.8 per cent growth in the previous quarter. GDP shrank by 0.6 per cent in June, and growth estimates for May were revised down from 0.5 per cent to 0.4 per cent.
The statistics office said health spending was the biggest contributor to the fall, as the government scaled down coronavirus testing, contact tracing and vaccination programs.
"Many retailers also had a tough quarter," said ONS director of economic statistics Darren Morgan. "These were partially offset by growth in hotels, bars, hairdressers and outdoor events across the quarter," partly as a result of celebrations of Queen Elizabeth II's Platinum Jubilee in June.
Analysts said the decline did not necessarily mean the start of a recession, often defined as two quarters of economic contraction. The Bank of England, however, says the U.K. will likely fall into recession later this year as a cost-of-living crisis worsens and inflation rises above the current 9.4 per cent.
The average U.K. household fuel bill has risen more than 50 per cent this year as the war in Ukraine squeezes global oil and natural gas supplies, and another increase is due in October, when the average's bill is forecast to hit 3,500 pounds ($4,300) a year.
"The fall in U.K. GDP during the second quarter was largely down to noise," said James Smith, developed markets economist at ING Economics. "But the risk of recession is rising quickly, with gas futures hitting new highs for next winter and our latest estimates suggesting the household energy price cap could come close to 5,000 pounds in the second quarter of next year. Much now depends on fiscal policy announcements in the autumn."
Anti-poverty campaigners, consumer groups and opposition politicians are pressing Prime Minister Boris Johnson's Conservative government to help people cope with soaring bills. But Johnson is in his final weeks as prime minister and says "significant fiscal decisions" must be left to his successor, who will take office in September.
Prime Minister Justin Trudeau is telling world leaders to either bury their heads in the sand or put differences aside for the sake of future generations.
An Edmonton man says he was in the wrong place at the wrong time when he was injured by members of the Edmonton Police Service last year.
The head of the Air Canada pilots union says she'll step down if members opt not to approve a tentative deal with the airline, raising the stakes as aviators mull whether to accept hefty salary gains or drive an even harder bargain.
Toronto police say they are searching for a suspect who allegedly shot and killed his brother in an argument at a Scarborough housing complex late Saturday night.
At least two students at Gettysburg College in Pennsylvania have been suspended from the swim team after a report that a racial slur was scratched onto a student's body, officials said.
Comedian John Mulaney and actor Olivia Munn now have a second child, a daughter named Mei June Mulaney.
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Ontario's police watchdog has decided there are no grounds to believe Sudbury police committed a crime during a difficult arrest in May where the suspect's neck was broken.
Cole Haas is more than just an avid fan of the F.W. Johnson Wildcats football team. He's a fixture on the sidelines, a source of encouragement, and a beloved member of the team.
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An anonymous business owner paid off the mortgage for a New Brunswick not-for-profit.
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It's been a whirlwind of joyful events for a northern Ontario couple who just welcomed a baby into their family and won the $70 million Lotto Max jackpot last month.