Declines in health and education in poor countries ‘harming earning potential’

Deteriorating health, education and training in many developing countries is dramatically depressing the future earnings of children born today, the World Bank has said.In a report, the World Bank urges policymakers to focus on improving outcomes in three settings: homes, neighbourhoods and workplaces.The report, Building Human Capital Where it Matters, finds that in 86 of 129 low- and middle-income countries health, education, or workplace learning declined between 2010 and 2025.Analysing the links with earnings, the World Bank says children born today in low- and middle-income countries could earn 51% more through their lifetime if their country’s human capital matched that of the best-performing nations at similar income levels.Mamta Murthi, its vice-president for people, said: “The prosperity of low- and middle-income countries depends on their ability to build and protect human capital

UK GDP: Chancellor Rachel Reeves predicts ‘stronger growth this year’ after UK economy ends 2025 ‘in the slow lane’ – business live

Reaction to the news that the UK grew by just 0.1% in the final quarter of 2025 (see earlier post) is rolling in, and City experts aren’t impressed.Lindsay James, investment strategist at wealth managers Quilter, warns that the picture is ‘rather bleak at the moment’.“A long list of data revisions from the ONS has revealed the UK economy barely kept its head above water in the final quarter of last year, with GDP growth coming in at just 0.1% after downward revisions to the previous two data prints

Ratcliffe says immigrants cost too much, while Ineos lobbies for state funding

The backlash against Sir Jim Ratcliffe’s comments about immigrants to the UK “costing too much” for the state comes at an awkward time for his loss-making Ineos business.The billionaire industrialist’s sprawling empire, which ranges from chemicals to car making, has sought government financial support worth hundreds of millions of pounds and is lobbying for further state aid from the UK and EU to stay afloat.Britain’s seventh-richest man provoked outrage by accusing immigrants of “colonising” Britain and implying that people on benefits were an unaffordable drain on public funds.But Ratcliffe, who has also described carbon taxes as “the most idiotic tax in the world”, has in recent years laid claim to state support through grants and loan guarantees worth about €800m from UK and EU governments to help his refineries and chemicals plants during an extended downturn for the industry.Ratcliffe told Sky News: “You can’t have an economy with 9 million people on benefits and huge levels of immigrants coming in

Will the government finally deliver a housing policy that stops making a bad situation worse? | Greg Jericho

Excuse me while I let out a long sigh of frustration.Australia’s housing policy has for so very long been about making the problem worse by juicing up demand. This is undeniable. The evidence is long and clear.Whether it be the 50% capital gains tax discount John Howard introduced in 1999, the continuation of negative gearing, or the use of first home buyer grants, government policies have overwhelmingly ensured more people are bidding for houses at auctions

Activist investor Elliott builds up stake in London Stock Exchange Group

The activist investor Elliott Management has built up a “significant” stake in the London Stock Exchange Group (LSEG) and is engaging with the company to drive its performance at a time of reduced listings and concerns about disruption from artificial intelligence.Elliott’s exact shareholding in LSEG was unclear; the Financial Times, which first reported the stake, added that the fund had been in talks with LSEG to help it work on improvement, encourage the group to consider a fresh share buy-back and to try to narrow the gap with its rivals.Shares in LSEG climbed by as much as 6% in early trading on Wednesday before recovering some ground to close down 1%.LSEG is best known for operating the London Stock Exchange but has moved away from its traditional stock market activities and now derives almost half of its revenues from its data and analytics arm after its 2021 takeover of the financial data provider Refinitiv.The company’s share price has declined steadily over the past year amid investor concerns that its income will be squeezed by AI disruption at a time of growing competition

Jim Ratcliffe apologises for ‘choice of language’ after saying immigrants ‘colonising’ UK

Monaco-based billionaire Jim Ratcliffe faced implicit criticism from the football club he co-owns, after widespread condemnation of his claims that the UK is being “colonised” by immigrants.The Manchester United co-owner was forced to issue a heavily qualified apology on Thursday after citing inaccurate immigration statisticsin comments labelled hypocritical and reminiscent of “far-right narratives”. Following a day of censure from the prime minister, football fans, union leaders and anti-racism campaigners, Ratcliffe said he was sorry his “choice of language has offended some people in the UK and Europe”.Just hours after Ratcliffe’s apology, United took the extraordinary step of publicly asserting their “inclusive and welcoming”. In statement that did not name Ratcliffe but clearly referred to his claims that the UK is being “colonised” by immigrants, United affirmed their commitment to “equality, diversity and inclusion”, adding: “Our diverse group of players, staff and global community of supporters reflect the history and heritage of Manchester; a city that anyone can call home