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UK economy grows marginally in last three months of 2025

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It fell short of the 0.2 per cent forecast as the services sector registered zero growth

Chancellor of the Exchequer Rachel Reeves speaks at a business reception at Lancaster House in central London in September 2025

Chancellor of the Exchequer Rachel Reeves speaks at a business reception at Lancaster House in central London (Image: PA)

The UK economy experienced modest growth in the fourth quarter of 2025, falling marginally short of predictions as an anticipated lift from the services sector failed to materialise.

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Latest data from the Office for National Statistics (ONS) revealed the economy grew a lacklustre 0.1 per cent in the three months to December 2025.

A poll of City economists by Bloomberg had forecast 0.2 per cent growth for the fourth quarter.

This occurred as the services sector, which is frequently regarded as the powerhouse of the economy owing to its substantial contribution of over 80 per cent to GDP, registered no growth during the period.

Production output rose 1.2 per cent whilst construction contracted 2.1 per cent, as reported by City AM.

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“The economy continued to grow slowly in the last three months of the year, with the growth rate unchanged from the previous quarter,” Liz McKeown, director of economic statistics at the ONS, said.

“The often-dominant services sector showed no growth, with the main driver instead coming from manufacturing.”

McKeown added construction recorded its weakest performance in more than four years.

A rise in activity was anticipated by economists following numerous surveys in the final quarter which indicated businesses had suspended their investment plans until uncertainty surrounding the public finances was resolved. Reeves had been anticipated to confront a severe fiscal shortfall following a productivity downgrade.

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However, the Office for Budget Responsibility’s economic forecast subsequently revealed a spike in tax revenues – driven primarily by inflation – which more than compensated for the £16bn downgrade.

Nevertheless, Reeves imposed tax increases totalling £26bn in the Budget, although businesses managed to mitigate some of their gravest concerns.

The elimination of certain fiscal uncertainty was predicted by economists to have triggered a boost in activity following the November Budget.

An Institute of Directors (IoD) survey preceding the Budget demonstrated private sector confidence had tumbled to its lowest level since the industry body began gathering data a decade earlier as tax speculation intensified.

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Economists have raised concerns about a late-year growth surge with Oxford Economics highlighting that any improvement would represent “payback” for declining output during preceding months.

“This appears to be noisy data rather than there being any strong underlying narrative,” Oxford Economics UK economists Andrew Goodwin and Edward Allenby said.

The Bank of England also delivered Reeves a setback during the Monetary Policy Committee’s most recent meeting where they reduced their growth projection for 2026 to 0.9 per cent from 1.2 per cent.

This coincided with a revised growth estimate for 2025 of 1.4 per cent, down from the earlier 1.5 per cent. Simon French, chief economist at Panmure Liberum, stated: “2026 won’t be a vintage year for UK economic performance by historical standards.

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“The composition of economic growth remains overly reliant on public sector spending, and housing wealth.”

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FedEx stock outlook positive as Bernstein reiterates Outperform rating

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FedEx stock outlook positive as Bernstein reiterates Outperform rating

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Tottenham Turn to Igor Tudor as Interim Boss After Sacking Thomas Frank

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Igor Tudor

Tottenham Hotspur have reached a verbal agreement with former Juventus manager Igor Tudor to take over as interim head coach until the end of the season, turning to the hard-edged Croatian in a bid to arrest a dire run of form and avoid a relegation fight in the Premier League.

Igor Tudor
Igor Tudor

The 47-year-old ex-Croatia international defender, who has previously managed Juventus, Marseille and Lazio, will succeed Thomas Frank, who was dismissed on Wednesday following Spurs’ 2–1 home defeat to Newcastle United, their latest setback in a season that has spiraled alarmingly. Tottenham sit 16th in the table, five points above the drop zone, with just two wins in their last 17 league matches.

According to Sky Sports and multiple British outlets, Tudor has agreed a short-term deal running until June 2026, with no automatic option to extend, as the club plans a broader search for a permanent manager in the summer. He is expected to take training early next week, ahead of a high-stakes north London derby against league leaders Arsenal at Tottenham Hotspur Stadium next Sunday.

Frank out, Tudor in: Spurs gamble on a firefighter

Frank’s dismissal came less than 24 hours after the loss to Newcastle, a result that intensified concern at board level over the trajectory of the season. Hired last year to bring stability and a clear identity, the former Brentford boss struggled to translate his methods to a bigger, more impatient club, with injuries, defensive lapses and blunt attacking displays compounding the slide.

Club executives Vinai Venkatesham, the new chief executive, and sporting director Johan Lange led the process to appoint an interim successor — their first major football decision since long-serving chairman Daniel Levy and co-sporting director Fabio Paratici departed, leaving Spurs without two of their most influential power brokers. After considering several candidates for a temporary role, including former Borussia Dortmund coaches Edin Terzic and Marco Rose, Tottenham moved decisively for Tudor on Thursday night.

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Sources close to the talks stressed that the agreement with Tudor is strictly interim. The club intends to appoint a long-term head coach in the summer, with a number of high-profile names expected to enter the frame after this year’s World Cup, including a possible return for former Spurs manager and current U.S. men’s national team coach Mauricio Pochettino.

Who is Igor Tudor? Ex-Juventus defender with a reputation for quick impact

Tudor enjoyed a distinguished playing career as a rugged central defender at Juventus, where he made over 100 appearances and won multiple Serie A titles and domestic cups. As a coach, he has built a reputation as an intense, tactically flexible manager willing to make bold structural changes to jolt underperforming teams.

His most high-profile recent spell came at Juventus, where he took over from Thiago Motta and guided the club to a fourth-place finish in Serie A and Champions League qualification before being dismissed in October after a poor early-season run. Prior to that, he had impressed at Olympique de Marseille with a high-energy, aggressive style that improved transitions and pressing, though he left at the end of the 2022–23 season citing fatigue and tensions around the club.

Analysts who have studied his teams describe Tudor as primarily defensive in structure but aggressive in mentality: he favors compact blocks, intense pressing triggers and a willingness to tweak formations game-to-game to exploit opponents’ weaknesses. A Total Football Analysis profile cited by Spurs blogs characterized him as “unafraid to implement bold tactical changes, often rejuvenating teams requiring new energy” and praised his ability to “improve balance between defense and offense” while motivating players.​

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Those traits — defensive organization, immediate impact and emotional edge — align with Tottenham’s urgent needs. A once free-flowing attack has become stagnant, and the team has struggled to control matches or protect leads, leaving them exposed in transition and vulnerable at set pieces.

Relegation fears sharpen ahead of north London derby

Spurs’ current predicament is stark. With 12 league matches remaining, they have amassed just two wins in 17 and sit five points clear of the relegation zone, having slipped into a congested bottom half where a short bad run can prove fatal. If West Ham defeat Bournemouth this weekend, the gap could shrink to two points before Tottenham host Arsenal, raising the stakes even further.

Tudor’s immediate task will be to steady the defense and instill a structure that makes Spurs harder to beat. Internally, officials have suggested that survival is the primary objective, with informal benchmarks of roughly 11–12 points from the final 12 matches viewed as a successful return. Any push beyond safety — toward mid-table respectability or an unlikely European place — would be considered a bonus.

The north London derby offers both a brutal introduction and an opportunity. Arsenal arrive as league leaders and title contenders, eager to compound Spurs’ misery. A spirited performance, even in defeat, could buy Tudor goodwill among a fan base bruised by months of disappointment; a win or draw, particularly at home, would be a transformational early result.

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No guarantee beyond June — but a chance to stake a claim

Reports indicate Tudor’s agreement does not include a built-in option for a permanent role, reflecting Spurs’ desire to conduct a full-scale managerial search this summer. However, club insiders have hinted that a strong run of results — especially an escape from the relegation scrap and a recognizable tactical identity — could put the Croatian in the conversation for the long-term job.

Journalist David Ornstein and others have reported that while Tudor is viewed as a short-term stabilizer, he is not entirely discounted as a future candidate. Much will depend on how players respond to his methods, how he navigates the pressures of the Premier League and whether he can coax improved performances from a squad that has underachieved relative to its wage bill and expectations.

New hierarchy under pressure after Levy exit

For Venkatesham and Lange, Tudor’s appointment is a first major test. With Daniel Levy’s decades-long tenure as executive chairman over and Fabio Paratici also gone, Spurs have lost some of the football-world connections that previously shaped their hiring and recruitment strategies. The new structure is under scrutiny from supporters and pundits already frustrated by years of managerial churn since Mauricio Pochettino’s departure in 2019.​

Since Pochettino’s Champions League final run, Tottenham have cycled through multiple head coaches — including Jose Mourinho, Nuno Espírito Santo, Antonio Conte, Ange Postecoglou and now Thomas Frank — with no lasting stability or silverware. The choice of Tudor, a less glamorous but experienced firefighter, suggests a pragmatic reset focused on survival before any grander rebuild.

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Tactics, squad and dressing room dynamics

Tudor inherits a squad lacking confidence and consistency. Tottenham’s attack has sputtered this season despite talent in forward positions, while defensive lapses and midfield imbalance have been recurring complaints among fans and analysts.

At previous clubs, Tudor has favored back-three systems (3-4-2-1 or 3-5-2) that emphasize wide overloads, aggressive wing-back play and compact central zones. Such setups could appeal at Spurs, who possess defenders and full-backs capable of adapting, but they may require rapid adjustments from players accustomed to different shapes under Frank and his predecessors.​

His reputation as a demanding trainer and straight-talking motivator may jolt some underperformers, but man-management will be critical in a dressing room that has experienced repeated regime changes and mixed messages.

Fans’ mixed reaction: Cautious hope, lingering skepticism

Early reaction from Spurs supporters has been mixed. Some fans, weary of high-profile appointments that fizzled, welcome Tudor’s reputation for immediate impact and defensive tightening. Others worry that another short-term solution postpones the structural overhaul they believe the club needs, particularly in recruitment and youth integration.

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Spurs fan sites and podcasts have noted that if Tudor can make the team “hard to beat,” build a coherent defensive block and rediscover basic competitiveness, he will earn goodwill quickly. In a season where expectations have shrunk from top-four ambitions to simple survival, the bar for satisfaction has been reset.

Looking ahead: Survival first, then the summer reset

For now, Tottenham’s horizon is short. Tudor will fly back to Croatia to finalize arrangements, then return to London to take charge of training early next week. His first days will involve assessing fitness, clarifying roles and installing a simplified game plan ahead of Arsenal’s visit.​

Beyond that, the club’s leadership will continue work on a long-term strategy. The summer promises a crowded managerial market after the World Cup, with Spurs expected to sound out multiple candidates, including Pochettino and several leading European coaches. Recruitment plans, budget allocations and youth pathways will all factor into those discussions.

In the meantime, Tottenham have made their move: a seasoned, combative interim manager with a track record of short-term stabilization and bold tactical tweaks. Whether Igor Tudor can deliver the calm and points Spurs crave — and perhaps write a new chapter in his own career in north London — will become clear in the fraught weeks ahead.

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Main Street Capital: Quality Is Not The Question, Valuation Is

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Main Street Capital: Quality Is Not The Question, Valuation Is

Main Street Capital: Quality Is Not The Question, Valuation Is

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SpaceX launches Crew-12 mission to International Space Station

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SpaceX launches Crew-12 mission to International Space Station

SpaceX and NASA launched a new crew Friday to the International Space Station, nearly one month after prior crew members were evacuated following a medical emergency in orbit. 

NASA said the SpaceX Crew-12 mission lifted off at 5:15 a.m. from the Cape Canaveral Space Force Station in Florida.  

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“The spacecraft will take  about 34 hours to autonomously dock with the space station’s Harmony module at 3:15 p.m. Saturday, Feb. 14, while traveling 17,000 mph in Earth orbit,” the agency said. 

NASA astronauts Jessica Meir and Jack Hathaway, European Space Agency astronaut Sophie Adenot and Roscosmos cosmonaut Andrey Fedyaev are onboard SpaceX’s Dragon spacecraft. 

NASA MAKES ‘UNPRECEDENTED’ CALL TO BRING ASTRONAUTS HOME AFTER ILLNESS, EXPERT SAYS 

SpaceX Falcon 9 rocket and Dragon spacecraft lifts off in Florida

A SpaceX Falcon 9 rocket and Dragon spacecraft lifts off on NASA’s Crew-12 mission to the International Space Station, carrying NASA astronauts Jessica Meir and Jack Hathaway, ESA astronaut Sophie Adenot and Russian cosmonaut Andrey Fedyaev, from Lau (Steve Nesius/Reuters / Reuters)

“What an absolutely wonderful start to the day,” NASA Administrator Jared Isaacman said following the launch. “This mission has shown in many ways what it means to be mission-focused at NASA.” 

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“In the last couple of weeks, we brought Crew-11 home early, we pulled forward Crew-12 to the launch date today, all while simultaneously making preparations for the Artemis 2 mission, which its next window will open up in early March,” he added. 

“The flight is the 12th crew rotation with SpaceX to the orbiting laboratory as part of NASA’s Commercial Crew Program. Crew-12 will conduct scientific investigations and technology demonstrations to help prepare humans for future exploration missions to the Moon and Mars, as well as benefit people on Earth,” according to NASA. 

US PLANS TO BUILD NUCLEAR REACTOR ON THE MOON BY 2030, NASA SAYS 

NASA's SpaceX Crew-12 crew members wave as they prepare for launch

NASA’s Crew-12 members, Russian cosmonaut Andrey Fedyaev, NASA astronauts Jack Hathaway and Jessica Meir, and ESA astronaut Sophie Adenot walk out of the Operations & Checkout Building at the Kennedy Space Center before transport to Launch Comple (Steve Nesius/Reuters / Reuters)

In January, NASA made an “unprecedented” decision to bring a crew home early from the International Space Station after a medical emergency in orbit, marking the first time in the station’s 25-year history that a mission has been cut short for health reasons. 

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NASA Administrator Jared Isaacman said at the time that a single crew member experienced a medical situation aboard the station on Jan. 7 and is now stable. After consultations with medical and agency leadership, he ordered the early return of the crew. 

“For over 60 years, NASA has set the standard for safety and security in crewed space flight,” Isaacman said. “The health and the well-being of our astronauts is always and will be our highest priority.” 

SpaceX Falcon 9 rocket and Dragon spacecraft stands at Launch Complex 40 in Florida

A SpaceX Falcon 9 rocket and Dragon spacecraft stand at Launch Complex 40 ahead of the launch of NASA’s Crew-12 mission to the International Space Station. (Steve Nesius/Reuters / Reuters)

CLICK HERE TO READ MORE ON FOX BUSINESS        

That crew returned to earth on Jan. 15. 

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Fox News’ Sarah Rumpf-Whitten contributed to this report. 

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Duroflex, Premier Industrial Corporation, 3 more companies get Sebi nod to launch IPO

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Duroflex, Premier Industrial Corporation, 3 more companies get Sebi nod to launch IPO
Premier Industrial Corporation, Virupaksha Organics, Hexagon Nutrition, Om Power Transmission and Duroflex have secured approval from the Securities and Exchange Board of India (Sebi) to proceed with their initial public offerings (IPOs). All five companies received Sebi’s observation during the week.

In IPO parlance, Sebi’s ‘observation’ refers to the formal comments or clearance issued by the regulator on a company’s draft IPO documents.

Premier Industrial Corporation IPO

Premier Industrial Corporation’s IPO will be a mix of fresh issue and an offer for sale (OFS). The company received Sebi’s observation letter on February 10.

Under the issue, 2.79 crore equity shares will be offloaded by the company. In this, the fresh issue will be up to 2.25 crore while the OFS will be up to 54 lakh equity shares.

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The selling shareholders are Arvind Chhotalal Morzaria, Dilip Chhotalal Morzaria, Subhash Chhotalal Morzaria, Lalit Navinchandra Morzaria and Nirmala Navinchandra Morzaria.

The company plans to utilise its net proceeds towards financing the capital expenditure requirements for setting up a new wire manufacturing facility in Raigad, Maharashtra, and for financing the capital expenditure required for the expansion of the existing manufacturing facility at the Wada Unit in Palghar, Maharashtra. A part of the proceeds will be be utilised for funding the working capital requirements of the company and for general corporate purposes.
Unistone Capital Private Limited is the sole Book Running Lead Manager (BRLM) to the issue.

Duroflex IPO

Duroflex IPO will be a mix of fresh issue and an offer for sale (OFS). The company received Sebi’s observation letter on February 12. The IPO consists of a fresh issue of equity shares aggregating up to Rs 184 and an offer for sale (OFS) of up to 2.25 crore equity shares by promoters and existing investors.
Duroflex Limited is a leading sleep and comfort solutions provider and is among the top three mattress companies in India by market share. It operates across mattresses, foam, furniture, pillows, accessories, and other bedding products under brands such as Duroflex, Sleepyhead, and Perfect Rest. As of June 30, 2025, Duroflex has established a broad network with 73 Company Owned Company Operated (COCO) stores, over 5,576 general trade stores, and a strong digital presence, serving a pan-India customer base.

Virupaksha Organics IPO

Virupaksha Organics IPO will entirely be a fresh issue worth Rs 740 crore according to the Draft Red Herring Prospectus (DRHP) filed by the company. The research-driven Indian pharmaceutical company received Sebi’s nod on Thursday, February 12.

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The company is promoted by Chandra Mouliswar Reddy Gangavaram, Balasubba Reddy, Mamilla, Chandrasekhar Reddy Gangavaram, Vedavathi Gangavaram, Kondapalli Sandeep Reddy, Kotla SUuraj Redy, Mamilla Nagarjun Reddy, Gangavaram Sri Lakshmi and G Sri Vidya.

The BRLMs are Axis Capital Limited and SBI Capital Markets Limited while the registrar to the issue is Kfin Technologies Limited.

Hexagon Nutrition IPO

The public issue of Hexagon Nutrition will entirely be an OFS. The company received Sebi’s clearance on February 10. Under the OFS, promoters Arun Purushottam Kelkar, Subhash Purushottam Kelkar, Nutan Subhash Kelkar and Aditya Kelkar will together offload up to 30,859,704 equity shares.

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The research-driven nutrition company is engaged in developing and manufacturing products across micronutrient premixes, branded wellness and clinical nutrition, therapeutic formulations, and ready-to-use foods.

The lead managers to the issue are Cumulative Capital Private Limited and Catalyst Capital Partners Private Limited while the registrar is Kfin Technologies.

Om Power Transmission IPO

The IPO will be a mix of fresh issue and an OFS. The company received the observation on today. Incorporated in 2011, Om Power Transmission is a power transmission infrastructure engineering, procurement, and construction (EPC) company with over 14 years of experience. The company’s expertise lies in the execution of high-voltage (HV) and extra-high voltage (EHV) transmission lines, substations and underground cabling projects delivered on a turnkey basis.

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(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

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American Electric Power: Strong Q4 Earnings Confirm Data Centers Are A Catalyst (AEP)

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American Electric Power: Strong Q4 Earnings Confirm Data Centers Are A Catalyst (AEP)

This article was written by

Financial analyst by day and a seasoned investor by passion, I’ve been involved in the world of investing for over 15 years and honed my skills in analyzing lucrative opportunities within the market.I specialize in uncovering high quality dividend stocks and other assets that offer potential for long term-growth that pack a serious punch for bill-paying potential. I use myself as an example that with a solid base of classic dividend growth stocks, sprinkling in some Business Development Companies, REITs, and Closed End Funds can be a highly efficient way to boost your investment income while still capturing a total return that follows traditional index funds. I created a hybrid system between growth and income and manage to still capture a total return that is on par with the S&P.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of AEP either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Form 13G American Drive Acquisition Co For: 13 February

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Form 13G American Drive Acquisition Co For: 13 February

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Form 13F SIR Capital Management For: 13 February

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Form 13F SIR Capital Management For: 13 February

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Inflation eases in US as prices for used cars fall

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Inflation eases in US as prices for used cars fall

Prices rose by 2.4% in the year to January, the latest official figures show, the slowest pace since May.

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Morgan Stanley said to consider $500 million India fund, shifts some assets

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Morgan Stanley said to consider $500 million India fund, shifts some assets
Morgan Stanley’s asset management arm is sounding out investors about shifting a portfolio of India assets from an existing fund into a new vehicle, according to people familiar with the matter.

The firm plans to move eight healthcare-focused investments into a so-called continuation vehicle, the people said, asking not to be identified because the conversations are private. It’s seeking to raise $500 million for the new India fund strategy and has approached investors on the plan, the people added.

The assets include Omega Hospitals and RG Scientific Enterprises Pvt., one of the people said. Morgan Stanley Investment Management invested in Omega in 2024 with a minority ownership and bought a controlling stake in RG Scientific that same year.

A media representative for Morgan Stanley declined to comment.

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Morgan Stanley Investment Management, a $1.9 trillion manager, invested in the assets through its alternative arm, Morgan Stanley Private Equity Asia.


The continuation fundraising comes as more investment firms look for exit routes beyond initial public offerings and mergers. Globally, the secondary market rose 48% to $240 billion in 2025 from a year earlier, according to a report by Jefferies Financial Group Inc.

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