Connect with us

Published

on

The world economy is entering a “perilous phase” of low economic growth and high financial risk, the International Monetary Fund has warned in its latest set of assessments.

The IMF, which is holding its spring meetings in Washington this week, downgraded its outlook for global growth and said its medium term forecast for economic output was now at the weakest level since the fund began publishing these forecasts in 1990.

However its chief economist Pierre-Olivier Gourinchas added that there were also more severe risks in prospect.

He said: “We are… entering a perilous phase during which economic growth remains low by historical standards and financial risks have risen, yet inflation has not yet decisively turned the corner.”

“Below the surface,” he added, “turbulence is building, and the situation is quite fragile, as the recent bout of banking instability reminded us.

“Inflation is much stickier than anticipated even a few months ago. While global inflation has declined, that reflects mostly the sharp reversal in energy and food prices. But core inflation, excluding the volatile energy and food components, has not yet peaked in many countries.”

This cocktail of factors prompted the IMF to cut its forecast for global economic growth by 0.1 percentage points this year and next, to 2.8% and 3% respectively.

More on Uk Economy

Please use Chrome browser for a more accessible video player

Is Brexit to blame? The war in Ukraine? Ed Conway at the end of January taking a look at the IMF predicting the UK economy would end up behind advanced nations this year

However, the fund said that there was now a one-in-four chance of global growth falling below 2% this year, something tantamount to a global recession, and which has only happened five times since 1970 (most recently in 2009 and 2020).

The UK has received an upgrade to its economic growth forecast this year and next, but it is nonetheless forecast to be the worst performing economy in the G7 this year, shrinking by 0.3%. UK gross domestic product is slated to rise to 1% next year.

The fund’s warnings follow the collapse of Silicon Valley Bank in the US and Credit Suisse in Europe, episodes which have raised the prospect of further financial turbulence in the coming months, as the system responds to rising interest rates.

In the World Economic Outlook, Mr Gourinchas referred to the troubles in the UK pensions market following last September’s mini-budget, saying: “The financial instability last fall in the gilt market in the United Kingdom and the recent banking turbulence in the United States with the collapse of a few regional banks illustrate that significant vulnerabilities exist both among banks and non-bank financial institutions.

“In both cases the authorities took quick and strong action and have been able to contain the spread of the crisis so far. Yet the financial system may well be tested again.”

Yet alongside these immediate concerns, there is another worry haunting policymakers as they gather in Washington for this six-monthly set of meetings: that the global economy may have lost some of its mojo.

The decline in the long term global growth rate in this latest forecast is in part down to “benign” factors – among them the fact that countries like China, which have driven global growth for more than a decade, are becoming higher income nations, with an inherently slower growth rate.

Read more business news:
CBI boss Tony Danker sacked over ‘conduct at work’
UK to see return of ultra-low interest rates, IMF says

But the other worry they have is that the world is beginning to deglobalise, with many countries unravelling their supply chains and introducing new trade barriers.

Those barriers, which are rising faster than ever before, could constrict global productivity, implying weaker growth for the long run.

Responding to the IMF statement Chancellor Jeremy Hunt said:

“Thanks to the steps we have taken, the OBR [Office of Budget Responsibility] says the UK will avoid recession, and our IMF growth forecasts have been upgraded by more than any other G7 country.

“The IMF now say we are on the right track for economic growth. By sticking to the plan we will more than halve inflation this year, easing the pressure on everyone.”

Continue Reading

World

Women’s Euros: Concerns for player safety as tournament kicks off in Switzerland

Published

on

By

Women's Euros: Concerns for player safety as tournament kicks off in Switzerland

The Women’s Euros begin in Switzerland today – with extreme heat warnings in place.

Security measures have had to be relaxed by UEFA for the opening matches so fans can bring in water bottles.

Temperatures could be about 30C (86F) when the Swiss hosts open their campaign against Norway in Basel this evening.

Players have already seen the impact of heatwaves this summer at the men’s Club World Cup in the US.

Players take a drink during a training session of Spain soccer team at the Euro 2025, in Lausanne, Switzerland Tuesday, July 1, 2025 Pic: AP
Image:
The Spain squad pauses for refreshments during a training session. Pic: AP

Read more: A complete guide to the Women’s Euros

It is raising new concerns in the global players’ union about whether the stars of the sport are being protected in hot and humid conditions.

FIFPRO has asked FIFA to allow cooling breaks every 15 minutes rather than just in the 30th minute of each half.

More on Football

There’s also a request for half-time to be extended from 15 to 20 minutes to help lower the core temperature of players.

FIFPRO’s medical director, Dr Vincent Gouttebarge, said: “There are some very challenging weather conditions that we anticipated a couple of weeks ago already, that was already communicated to FIFA.

“And I think the past few weeks were confirmation of all worries that the heat conditions will play a negative role for the performance and the health of the players.”

Football has seemed focused on players and fans baking in the Middle East – but scorching summers in Europe and the US are becoming increasingly problematic for sport.

Chloe Kelly celebrates with Beth Mead, right, after scoring her side's sixth goal at Wembley Stadium, in London, Friday, May 30, 2025. AP
Image:
England are the tournament’s defending champions. Pic: AP

While climate change is a factor, the issue is not new and at the 1994 World Cup, players were steaming as temperatures rose in the US.

There is now more awareness of the need for mitigation measures among players and their international union.

FIFPRO feels football officials weren’t responsive when it asked for kick-off times to be moved from the fierce afternoon heat in the US for the first 32-team Club World Cup.

FIFA has to balance the needs of fans and broadcasters with welfare, with no desire to load all the matches in the same evening time slots.

Electric storms have also seen six games stopped, including a two-hour pause during a Chelsea game at the weekend.

This is the dress rehearsal for the World Cup next summer, which is mostly in the US.

Players are also feeling the heat at the Club World Cup in the US. Pic: AP
Image:
Players are also feeling the heat at the Club World Cup. Pic: AP

The use of more indoor, air conditioned stadiums should help.

There is no prospect of moving the World Cup to winter, as Qatar had to do in 2022.

And looking further ahead to this time in 2030, there will be World Cup matches in Spain, Portugal and Morocco. The temperatures this week have been hitting 40C (104F) in some host cities.

Read more:
Ex-England boss receives knighthood
Football star mural unveiled

Please use Chrome browser for a more accessible video player

Wildfires erupt in Italy and France amid heatwave

FIFA said in a statement to Sky News: “Heat conditions are a serious topic that affect football globally.

“At the FCWC some significant and progressive measures are being taken to protect the players from the heat. For instance, cooling breaks were implemented in 31 out of 54 matches so far.

“Discussions on how to deal with heat conditions need to take place collectively and FIFA stands ready to facilitate this dialogue, including through the Task Force on Player Welfare, and to receive constructive input from all stakeholders on how to further enhance heat management.

“In all of this, the protection of players must be at the centre.”

Continue Reading

World

Women’s Euros 2025: Where is it, how to watch and when are England and Wales playing?

Published

on

By

Women's Euros 2025: Where is it, how to watch and when are England and Wales playing?

England are looking to defend their title at the 2025 Women’s Euros.

But conquering this year’s competition will be tricky right from the group stages.

The Lionesses will come up against Wales, who made history by qualifying for their first major tournament, and two other European heavyweights: France and the Netherlands.

As the tournament kicks off, extreme temperatures have raised questions about whether players are being protected in hot and humid conditions.

Here is everything you need to know about Euro 2025.

Where is Euro 2025 being held?

This year’s Women’s Euros is being held in Switzerland.

The competition kicks off on Wednesday 2 July, with the final on Sunday 27 July.

Matches will be held in eight venues across Switzerland from Zurich to Geneva, with the final game being played in Basel.

What teams have qualified?

A total of 16 teams have qualified for the competition.

Eight teams progressed directly from the qualifying league stage and seven teams qualified via the play-offs.

As hosts, Switzerland qualified automatically.

Please use Chrome browser for a more accessible video player

Is it too hot for football?

The teams playing in the tournament are:

• England
• Belgium
• Denmark
• Finland
• France
• Germany
• Iceland
• Italy
• Netherlands
• Norway
• Poland
• Portugal
• Sweden
• Spain
• Switzerland
• Wales

How much do the winners get?

This year, the total available prize money for the tournament stands at €41m (£34m) – more than doubling from the prize pot in 2022.

All competing sides receive a €1.8m (£1.5m) participation fee, with the remaining money going to the quarter-finalists, semi-finalists, runners-up and winners.

The maximum prize money achievable for the tournament winners, if they also win their three group stage matches, is €5.1m (£4.3m).

England are victorious at Women's Euro 2022
Image:
England celebrate their victory at Women’s Euro 2022. Pic: Reuters

Who has (and hasn’t) made the England squad?

Some notable names will be missing from the England squad this year.

Goalkeeper Mary Earps announced in May that she is retiring from international football with immediate effect.

Within days, two other names, Fran Kirby and Millie Bright, also announced they would not be taking part in Euro 2025.

The departure of Bright, Earps and Kirby is a loss of three experienced players – between them they have 218 international appearances.

So who has manager Sarina Wiegman picked for the 23-person squad, and who has been snubbed?

Use our slider below to look through some of the key players, or see a list of the full England squad, here.

History-making Wales squad announced

The Welsh women’s national football team has qualified for an international tournament for the first time.

Their 23-player squad was announced by head coach Rhian Wilkinson at the summit of Yr Wyddfa (Snowdon) on Thursday morning.

Wales head coach Rhian Wilkinson following a squad announcement press conference at the summit of Yr Wyddfa in Snowdonia.
Pic: PA
Image:
Rhian Wilkinson following the squad announcement at the summit of Yr Wyddfa. Pic: PA

Midfielder Angharad James captains the side, and is one of four players to have played over 100 times alongside fellow Wales veterans Jess Fishlock, Hayley Ladd and Sophie Ingle, who also made the cut.

Ingle hasn’t featured for club or country since suffering an ACL injury during a pre-season friendly for Chelsea last September.

The 33-year-old returned to full training at the beginning of the month and her inclusion comes as a significant boost ahead of Wales’ first major tournament.

Fishlock, Wales’ record appearance holder and goalscorer, will hope to add to her 47 international goals as she leads the line.

The side beat the Republic of Ireland 2-1 in a play-off match to secure their spot in the Euros.

Soccer Football - Women's Nations League - League A - Wales v Denmark - Cardiff City Stadium, Cardiff, Wales, Britain - April 4, 2025 Wales'
Image:
Wales have qualified for an international tournament for the first time. Pic: Reuters

Wales head coach Rhian Wilkinson said after the match: “This team found a way. They never broke for each other, they stayed strong. I’ve never been prouder of a team.

“This team stands on the shoulders of giants [the pioneering female footballers] who came before, and now they’ve proven how good they are.”

Soccer Football - Women's Nations League - League A - Wales v Sweden - Racecourse Ground, Wrexham, Wales, Britain - February 25, 2025 Wales
Image:
Welsh women’s manager Rhian Wilkinson. Pic: Reuters

What are the Euro 2025 groups?

Similarly to the World Cup, teams in the Euros are split into four groups.

The top two teams in each group will progress to the knockout stage, where games will be decided by extra-time and penalties if needed.

The knockout stage pits the winners of the group against the runners-up, meaning Germany, Poland, Denmark or Sweden could lie in wait for England and Wales in the last eight.

Group A: Switzerland, Norway, Iceland, Finland

Group B: Spain, Portugal, Belgium, Italy

Group C: Germany, Poland, Denmark, Sweden

Group D: France, England, Wales, Netherlands

When are England and Wales playing?

The Lionesses start their bid for the Euros title on 5 July when they take on France. The game will take place in Zurich at 8pm UK time.

Wales kick off their campaign earlier the same day, against the Netherlands. That game starts at 5pm UK time in Lucerne.

The two nations will be the last teams in Group D to face each other.

Their showdown will be held in the city of St Gallen, on Sunday 13 July. Kick-off is at 8pm UK time.

Can England win the Euros again?

The Lionesses lifted the Euros trophy in front of a home crowd in 2022, after beating Germany 2-1.

Chloe Kelly delivered the deciding goal in extra time, but can the team do it all again?

Please use Chrome browser for a more accessible video player

Can England win the Euros again?

Lucy Bronze admitted to Sky News that the team faces “one of the hardest” groups going into the tournament, but added: “We know on any given day, when we play at our best we can beat any team in the world.”

The right-back said: “We have got one of the most talented squads going into the Euros… I wouldn’t want to be a defender on the other team going against some of our players.

“We know it is going to be difficult, there are maybe a handful of teams that are capable of winning it, and we are definitely one of them.”

Please use Chrome browser for a more accessible video player

‘Handful of teams could win the Euros – we’re one’

After naming her squad in May, Weigman told Sky News sports correspondent Rob Harris: “This group is a very well-balanced mix of players with multiple tournaments on their CVs and also those that will make their tournament debuts.

“I am excited to see what we are capable of this summer.”

How to watch the Euros 2025

Eevery single match of the Women’s Euros will be shown across the BBC and ITV, with the two broadcasters showing half of the 31 matches each, except the final, which will be shown on both channels.

Every match will also be screened live at three venues across London and Birmingham.

TOCA Social at The O2 and Westfield White City in London and The Bullring in Birmingham is hosting watch parties for fans hoping to catch all the action.

Continue Reading

World

Snake captured on passenger plane – as expert reveals how it got there

Published

on

By

Snake captured on passenger plane - as expert reveals how it got there

A flight in Australia was delayed for two hours after a stowaway snake was found in the plane’s cargo hold.

The reptile was found as passengers were boarding Virgin Australia Flight VA337 at Melbourne Airport bound for Brisbane.

Snake catcher Mark Pelley said he thought it could be venomous when he approached it in the darkened hold.

The snake in the cargo hold. Pic: Mark Pelley
Image:
The snake in the cargo hold. Pics: Mark Pelley

But it turned out to be a harmless 60cm green tree snake.

“It wasn’t until after I caught the snake that I realised that it wasn’t venomous. Until that point, it looked very dangerous to me,” Mr Pelley said.

He said when he entered the cargo hold, the snake was half hidden behind a panel and he feared it could flee deeper into the plane.

“I had one chance to grab it, and if it escaped past me it would have gone into the panels, and then that would have been extremely hard to catch,” he told Sky News.

“Snakes are very fast-moving, thin and agile,” he added.

Mark Pelley catching the snake. Pic: Mark Pelley

Mr Pelley said he told an aircraft engineer and airline staff they would have to evacuate the aircraft if the snake disappeared inside the plane.

“I said to them if I don’t get this in one shot, it’s going to sneak through the panels and you’re going to have to evacuate the plane because at that stage I did not know what kind of snake it was,” he explained in a separate interview.

“But thankfully, I got it on the first try and captured it,” he added. “If I didn’t get it that first time, the engineers and I would be pulling apart a [Boeing] 737 looking for a snake still right now.”

Read more from Sky News:
Trump claims Israel has agreed to 60-day ceasefire in Gaza
‘Diddy’ holds head in his hands as jury reaches partial verdict

For quarantine reasons the snake could not be returned to the wild. Pic: Mark Pelley

Mr Pelley said because the snake is native to the Brisbane region he suspects it came on board inside a passenger’s luggage and escaped.

“It’s actually very uncommon for snakes to be on the plane,” he told Sky News.

For quarantine reasons the snake cannot be returned to the wild.

The animal, a protected species, has been given to a Melbourne vet to find a home with a licensed snake keeper.

Continue Reading

Trending