International
UK manufacturing industry shrinks at fastest rate in 11 months
Concerns remain about the outlook for global trade in 2025, with Donald Trump assuming the US presidency later this month having promised a slew of trade tariffs.
Yahoo!finance: British factory output contracted at the fastest rate in 11 months in December, amid a swathe of job losses, growing concerns about rising business taxes and a worsening global economy.
The S&P Global UK manufacturing PMI survey, watched closely by economists, recorded a reading of 47.0 in December, from 48.0 in November.
Any reading above 50 indicates activity is growing while any score below means it is contracting.
The rate of job cuts hit a 10-month high, the survey found, with firms saying weak market conditions caused many to reduce their headcounts.
Company confidence fell to a two-year low, meanwhile, amid concerns about inflationary pressures, rising business costs and potential weaker economic growth this year.
Manufacturers said they were concerned about future cost increases, partly driven by rising taxes announced by Chancellor Rachel Reeves last year.
Companies will pay more in national insurance contributions (NICs) from April, while the minimum wage is also set to rise, which will make it more expensive to employ people.
Firms also cited a weakening global economic outlook, as exports fell due to lower demand in Europe, Asia and the UK.
Concerns remain about the outlook for global trade in 2025, with Donald Trump assuming the US presidency later this month having promised a slew of trade tariffs.
Rob Dobson, director at S&P Global Market Intelligence, said: “A stalling domestic economy, weak export sales and concerns about future cost increases led to the steepest contraction of UK manufacturing production for almost a year in December.
“Manufacturers are facing an increasingly downbeat backdrop. Business sentiment is now at its lowest for two years as the new Government’s rhetoric and announced policy changes dampen confidence and raise costs at UK factories and their clients alike.
SMEs are being especially hard hit during the latest downturn.
“This is sending a winter chill through the labour market. December saw the sharpest cuts to staffing levels since February.
Some companies are acting now to restructure operations in advance of the rises in employer national insurance and minimum wage levels in 2025.”
International
Death toll in Hong Kong fire rises to 44 with 279 still missing, authorities say
Hong Kong authorities say the fires in four of the buildings have been brought under control, but large plumes of smoke are still hanging over the residential estate.
Photo: AFP
At least 44 people have been killed so far in a major fire engulfing public housing apartments in Hong Kong’s Tai Po district, with 279 people not accounted for.
Three construction company executives have been arrested on suspicion of manslaughter connected to flammable materials, including mesh and plastic sheets, that may have allowed the fire to spread quickly.
More than 800 firefighters are tackling the blaze at Wang Fuk Court, which has been burning for over 18 hours.
The fire has been classified a level five blaze, the most serious level in Hong Kong.
A baby and an elderly woman were rescued during a late-night rescue, local media reports.
Hong Kong authorities say the fires in four of the buildings have been brought under control, but large plumes of smoke are still hanging over the residential estate.
I can smell it in the air. I can also see a number of small fires still burning in the apartment blocks.
Even more fire engines and an ambulance have arrived this morning to help with rescue efforts
BBC.
International
BREAKING: Indian fighter jet crashes at Dubai airshow
An Indian fighter jet has crashed while performing a display at an airshow in Dubai, officials have said.
Details later.
International
JUST IN: Bangladesh war Crimes Court Sentences Ex-PM Hasina to Death
A Bangladeshi war crimes tribunal has sentenced former Prime Minister Sheikh Hasina to death.
The verdict, delivered on Monday, November 17, 2025, follows a months-long trial that found Hasina guilty of ordering a lethal crackdown on a student-led uprising last year. She received a death sentence for the killing of several protesters and a life sentence on charges of crimes against humanity.
The ruling marks the most significant legal action against a former Bangladeshi leader in decades and comes ahead of parliamentary elections expected in early February 2026. There was cheering and clapping in the courtroom as the death sentence was pronounced. The verdict can be appealed in the Supreme Court, though Hasina’s son and adviser, Sajeeb Wazed, said they would not appeal unless a democratically elected government, including the Awami League, is in office.
Prosecutors told the court that evidence showed Hasina directly ordered security forces to use lethal force to suppress protests in July and August 2024. A United Nations report estimates that up to 1,400 people were killed during the demonstrations, with thousands more injured, making it the deadliest unrest in Bangladesh since its 1971 war of independence.
Hasina, represented by a state-appointed defense lawyer, denied the charges, calling the tribunal proceedings unfair and claiming a guilty verdict was “a foregone conclusion.”
Tensions in Bangladesh had escalated ahead of the verdict, with at least 30 crude bomb explosions and 26 vehicles torched in recent days, though no casualties were reported.
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