grainy dispatch

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JUST IN: BRITAIN TO REFORM ELECTRICITY STANDING CHARGES, TREASURY DOCUMENTS SHOW, AS PER REUTERS X

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🚨 #BREAKING : US ISSUES SANCTIONS ON RWANDA DEFENCE MINISTRY-TREASURY DEPT WEBSITE X

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🚨 #BREAKING : US ISSUES FRESH DEMOCRATIC REPUBLIC OF CONGO-RELATED SANCTIONS-TREASURY DEPT WEBSITE X

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🚨 #BREAKING : 🇺🇸 🇰🇵 US ISSUES FRESH NORTH KOREA-RELATED SANCTIONS-TREASURY DEPT WEBSITE X

JUST IN: SPAIN'S TRANSPORT MINISTER: TRAINS WERE IMMEDIATELY HALTED X

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JUST IN: SPAIN'S TRANSPORT MINISTER DECLINES TO ANSWER WHETHER HE WILL RESIGN, AS PER REUTERS X

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JUST IN: SPAIN'S TRANSPORT MIN: OUR RAILWAY SYSTEM IS RELIABLE & SAFE WITH SOME LIMITS, AS IS CASE WITH EVERY SYSTEM OF TRANSPORT, AS PER REUTERS X

Here's what we know about Spain train crash so far 07:35 pm IST. Transport Minister says a decision at 8:36 ordered a stalled train to move despite a red signal. The train proceeded and collided, prompting immediate emergency response.

grainy dispatch@grainydispatch.bsky.social

JUST IN: SPAIN'S TRANSPORT MINISTER: TRAINS WERE IMMEDIATELY HALTED X

The ministry admits the restart “was not taken at a pace that would allow the train to be stopped.” Officials cite signal failure and procedural lapses; opposition parties demand a full inquiry while the minister refuses to comment on resignation.

Analysts warn this incident could shake confidence in Spain’s high‑speed network, prompting EU safety reviews and possible delays in upcoming line upgrades. Watch for regulator findings and any compensation framework for victims. #High-speedtraincrashreportedinSpain

Here's what we know about UK fiscal outlook so far 07:35 pm IST. OBR now sees a 56% chance of meeting the 2025 fiscal mandate, down from 59% at the Budget. Cumulative cost of fuel‑duty freezes & the 5p cut has ballooned to £139 bn.

grainy dispatch@grainydispatch.bsky.social

JUST IN: UK OBR: SIGNIFICANTLY BETTER / WORSE OUTCOMES FOR PUBLIC FINANCES & ECONOMY OF BROADLY EQUAL PROBABILITY, AS PER REUTERS X

Headroom would still be £10.2 bn if duty stayed frozen, but the OBR flags the Employment Rights Act as a likely drag on growth and warns a new council house‑building push could add £3‑4 bn a year to outlays.

Watch for Treasury tweaks to the duty freeze, parliamentary debate on the Employment Rights Act, and local‑government financing plans as markets gauge the path to fiscal balance. #UKtoscrapgasstandingcharges

JUST IN: SPAIN'S TRANSPORT MINISTER: TRAINS WERE IMMEDIATELY HALTED X

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JUST IN: SPAIN'S TRANSPORT MIN: DECISION TO RESTART TRAIN WAS NOT TAKEN AS IT SHOULD BE, AT PACE THAT WOULD ALLOW TRAIN TO BE STOPPED, AS PER REUTERS X

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JUST IN: SPAIN'S TRANSPORT MIN: DESPITE THIS, TRAIN WAS ORDERED TO RESUME ITS JOURNEY & CONTINUED UNTIL COLLISION, AS PER REUTERS X

JUST IN: SPAIN'S TRANSPORT MINISTER: TRAINS WERE IMMEDIATELY HALTED X

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JUST IN: SPAIN'S TRANSPORT MIN: DECISION TO RESTART TRAIN WAS NOT TAKEN AS IT SHOULD BE, AT PACE THAT WOULD ALLOW TRAIN TO BE STOPPED, AS PER REUTERS X

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JUST IN: SPAIN'S TRANSPORT MIN: RED SIGNAL WAS IN PLACE WHICH PROHIBITS ANY FURTHER MOVEMENT, AS PER REUTERS X

JUST IN: SPAIN'S TRANSPORT MINISTER: TRAINS WERE IMMEDIATELY HALTED X

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JUST IN: SPAIN'S TRANSPORT MINISTER: DECISION WAS TAKEN AT 8.36 FOR TRAINS TO RESUME, AS PER REUTERS X

JUST IN: SPAIN'S TRANSPORT MIN: TRAIN'S CONTROL SYSTEM FAILED BECAUSE OF COMPUTER COMMUNICATION ISSUE, AS PER REUTERS X

JUST IN: UK OBR: SIGNIFICANTLY BETTER / WORSE OUTCOMES FOR PUBLIC FINANCES & ECONOMY OF BROADLY EQUAL PROBABILITY, AS PER REUTERS X

JUST IN: UK OBR: EMPLOYMENT RIGHTS ACT LIKELY TO HAVE NEGATIVE ECONOMIC IMPACT, AS PER REUTERS X

JUST IN: UK OBR: COUNCIL HOUSEBUILDING AMBITION COULD COST ADDITIONAL £3 BLN-£4 BLN YEAR, AS PER REUTERS X

JUST IN: LONGER-TERM INFLATION EXPECTATIONS REMAIN WELL-ANCHORED; BROAD SET OF INDICATORS CONTINUE TO POINT TO SOME EXCESS SUPPLY IN ECONOMY - BOC, AS PER REUTERS X

JUST IN: BOC SAYS IT RAISED RATES TO REDUCE RISK THAT CONTINUING HIGH ENERGY PRICES SPREAD BROADLY TO PRICES OF OTHER GOODS & SERVICES, AS PER REUTERS X

JUST IN: THERE COULD BE A NEED TO INCREASE RATES AGAIN - BOC, AS PER REUTERS X

JUST IN: COMBINATION OF HIGHER-FOR-LONGER ENERGY PRICES & INCREASED PASS-THROUGH ADDS TO PERSISTENCE OF INFLATION IN PROJECTION - BOC, AS PER REUTERS X

JUST IN: GIVEN UNCERTAINTIES, GOVERNING COUNCIL AGREED TO PROCEED CAREFULLY- BOC, AS PER REUTERS X

JUST IN: WHILE BUSINESSES HAVE LARGELY ABSORBED HIGHER INPUT COSTS SO FAR, BANK SURVEYS SUGGEST COST PASS-THROUGH WILL INCREASE OVER NEXT YEAR - BOC, AS PER REUTERS X

🚨 #BREAKING : BOC SAYS ITS GROWTH FORECAST IS SUBJECT TO CONSIDERABLE UNCERTAINTY, PARTICULARLY REGARDING TRADE TIES WITH US, AS PER REUTERS X

JUST IN: BANK OF CANADA RAISES O/N INTEREST RATE TO 2.50%, AS PER REUTERS X

JUST IN: UK OBR: SIGNIFICANTLY BETTER / WORSE OUTCOMES FOR PUBLIC FINANCES & ECONOMY OF BROADLY EQUAL PROBABILITY, AS PER REUTERS X

JUST IN: UK OBR: CUMULATIVE COST OF FUEL DUTY FREEZES & 5P CUT HAS RISEN TO £139 BLN, AS PER REUTERS X

JUST IN: UK OBR: HEADROOM WOULD BE £10.2 BLN IF FUEL DUTY STAYED FROZEN, AS PER REUTERS X

JUST IN: UK'S OBR: BUDGET PLANS SLOW NEAR-TERM PACE OF CONSOLIDATION COMPARED TO PREVIOUS PLANS, AS PER REUTERS X

JUST IN: UK OBR: SIGNIFICANTLY BETTER / WORSE OUTCOMES FOR PUBLIC FINANCES & ECONOMY OF BROADLY EQUAL PROBABILITY, AS PER REUTERS X

JUST IN: UK OBR: PROBABILITY OF MEETING FISCAL MANDATE NOW 56%, DOWN FROM 59% AT BUDGET 2025, AS PER REUTERS X

JUST IN: UK'S OBR: SEES INFLATION AT 3.5% IN 2027 IN CENTRAL FORECAST (MAR FORECAST: 2%), AS PER REUTERS X

JUST IN: UK'S OBR: SEES CPI INFLATION INCREASING TO QTRLY PEAK OF 3.75% IN EARLY 2027 IN CENTRAL FORECAST, AS PER REUTERS X

Here's what we know about Healey tax reforms so far 07:05 pm IST.

grainy dispatch@grainydispatch.bsky.social

JUST IN: UK FINANCE MINISTER HEALEY BUDGET WILL BE BUILT ON FISCAL DISCIPLINE, AS PER REUTERS X

HMRC will roll out new marketplace compliance checks by Q1 2027. Defence funding will be sourced from re‑allocated capital, sparing cuts to public services.

Watch for parliamentary debate on the devolution of tax receipts and its impact on Scotland and Wales, plus market reaction to the VAT clamp‑down on e‑commerce platforms. Analysts flag potential short‑term equity volatility in renewable and gambling sectors.

Here's what we know about Healey tax reforms so far 07:05 pm IST.

grainy dispatch@grainydispatch.bsky.social

JUST IN: UK FINANCE MINISTER HEALEY BUDGET WILL BE BUILT ON FISCAL DISCIPLINE, AS PER REUTERS X

Healey announced a package: old renewables to shift onto fixed‑price contracts, gambling levy increase, tighter VAT rules for online marketplaces, steps to devolve tax revenues, and full funding of the defence investment plan, reprioritising other departments.

The moves signal a broader fiscal tightening ahead of the next budget. Treasury officials say the renewables contract shift aims to stabilise green funding, while the gambling tax hike targets a £1.2 bn revenue boost.

RESTATING POST : IMF: ANNOUNCES DEPARTURE OF DEPUTY MANAGING DIRECTOR BO LI & PROPOSES APPOINTMENT OF MR. MIN LIAO AS DEPUTY MANAGING DIRECTOR X

🚨 #BREAKING : ZELENSKIY SAYS HE SPOKE TO UK PM BURNHAM, DISCUSSED SANCTIONS, AS PER REUTERS X

JUST IN: UK OFFICE FOR BUDGET RESPONSIBILITY PROJECTS £65 BLN MORE BORROWING FROM 2026/27 - 2030/31 THAN IN MAR - REUTERS CALCULATION X

JUST IN: UK'S HEALEY: NEXT SPENDING REVIEW WILL RINGFENCE PREVENTION SPENDING THAT BRINGS DOWN FUTURE COSTS, AS PER REUTERS X