UK Job Cuts Suggest Companies Turning Cautious on Iran War

UK businesses stepped up job cutting in March, a sign that the Iran war is causing fresh caution in the labor market after warnings Britain will be one of the hardest hit advanced economies from the energy shock.

The number of employees on payrolls dropped 11,000, the biggest fall since November and double the decline seen in February, tax data published by the Office for National Statistics showed on Tuesday. It was worse than the flat reading expected by economists.