Business
Thousands more university jobs cut as financial crisis deepens
Hayley ClarkeEducation reporter and
Emily Doughty
PA MediaUniversities have collectively announced more than 12,000 job cuts in the last year, new analysis from the University and College Union (UCU) suggests.
Additional cost savings announced in the same period are equivalent to a further 3,000 jobs, the union says, but universities have not confirmed whether these savings will be made by cutting staff.
UCU members will vote on potential UK-wide strike action later this month over a 1.4% pay offer made over the summer.
Employers say that offer “clearly does not reflect the true value employers place on staff”, but that it is the “only prudent option” given the scale of the financial challenge facing the higher education sector.
Four in 10 English universities are now believed to be in financial deficit, according to the Office for Students.
Raj Jethwa, chief executive of the Universities and Colleges Employers Association (UCEA), says difficult decisions like redundancies and restructures are having to be “carefully considered” by all institutions, but that they were striving to do so in an “open and fair way”.
But Jo Grady, UCU general secretary, described the cuts as “brutal”, adding that staff had become “demoralised, exhausted and furious” and that “undervalued and poorly served” students were feeling the impact too.
She told the Today programme there was “no replacement for stable funding from government” to address the financial challenges and that the current model was “destroying higher education”.
The government said it had taken the “tough but necessary decision” to increase tuition fees last year to boost income for universities, and would soon set out further plans for reforms in new legislation.
‘I will have to live with my mum in my forties’
Zak HughesDr Zak Hughes, a chemistry lecturer at the University of Bradford, is at risk of redundancy.
“There are a lot of stressed and upset people who are struggling to deal with it, both within the school but also more widely within the institution,” he says.
Zak, who has worked at the university since 2018, says he now faces the prospect of having to move back home to live with his mum if he loses his job.
“I won’t be able to pay my rent, I will be in my forties and living back at home,” he says.
Even if the 44-year-old retains his job, the chemistry course at the university is being phased out, with similar closures happening across the country.
Zak says this limits the opportunities for him and his colleagues.
“People could, even if they lost their job, get a job at another institution. That’s not happening now,” he says.
“They’re probably looking not only at the end of the a job, but really the end of their career in academia.”
Sanskrity Baraili, sabbatical officer at the students’ union in Bradford, says she has already seen the impact of cuts on students, especially in support services such as cleaning teams and disability services.
While she believes the cuts come from a wider issue within higher education, she says “students are worried about what’s going to happen next”.
Sanskrity BarailiA spokesperson for the university said: “Like many other universities, we are having to make cost-savings to protect the student experience and ensure we deliver meaningful outcomes for graduates.”
They said they had expanded the support services available to students, adding that “our priority remains putting students first and widening access to higher education.”
They said the university had a responsibility to ensure it remained financially stable, including regularly reviewing courses with “persistently low intake such as chemistry”.
They called on the government to take “swift and decisive action” to tackle the challenges faced by the sector.
‘I’d have had second thoughts about uni if I knew’
The University of Edinburgh has announced it plans to make £140m in cuts, equivalent to about 1,800 jobs, according to the UCU.
Caspar Cubitt, who is studying theology, says the uncertainty has “put all of us on edge”.
“There’s a lot of gossip which swirls around you,” he says.
“It’s when you write back to your mum and dad and they ask how uni is going, you say, ‘Well, my degree is in trouble.'”
While the 22-year-old says he is still receiving the same level of support from his department, he has found that access to study spaces and module choices has been affected.
Caspar CubittWith two years left at university, he is now worried what further cuts may mean.
“I would have had second thoughts [about going to Edinburgh] if I knew that this is how they handle budget crisis and this is how they run finances,” he says.
Professor Sir Peter Mathieson, principal and vice chancellor of the University of Edinburgh, said the university had been “fully transparent about the necessary steps we need to take to safeguard the future of our university”.
“We remain firmly committed to ongoing dialogue as we take the necessary steps to enable us to deliver excellence and continue to be a bold, imaginative and world-leading university.”

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Business
How Costly Is A $10 Oil Spike For India’s Economy?
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Every $10 rise in global crude oil prices could shave around 0.5 percentage points off India’s GDP growth, say experts

India imports nearly 50 percent of crude oil from the Middle East
Every $10 rise in global crude oil prices could shave around 0.5 percentage points off India’s GDP growth, underscoring the country’s heavy reliance on imported oil and vulnerability to global energy volatility, Vandana Bharti, Research Head–Commodity at SMC Global Securities, told ANI.
In an interview with ANI, Bharti said escalating geopolitical tensions in West Asia pose a significant economic risk for India as crude prices climb and supply chains face potential disruptions.
“Every $10 increase in crude oil prices impacts India’s GDP by roughly 0.5%. We have already seen prices rise by about $10–$15 recently, and the economic impact will eventually reflect in growth numbers,” she said.
West Asia tensions driving oil prices higher
The surge in oil prices follows intensifying tensions involving the United States, Israel and Iran, particularly around the Strait of Hormuz — a critical maritime corridor through which roughly 20–25% of global oil shipments pass.
Bharti said the conflict has injected additional uncertainty into global energy markets and added what she described as a “war premium” to crude prices.
“It’s not just about the possibility of the Strait of Hormuz closing. Insurance costs and freight charges are rising, and shipments are being rerouted. All these factors add a war premium to crude oil prices and increase market uncertainty,” she said.
Risks extend beyond shipping
According to Bharti, the risks go beyond maritime routes and extend to energy infrastructure itself.
“Energy sites such as crude oil facilities and LNG plants are potential targets. There are also concerns about seabed cables and other critical infrastructure. So the threat is not only to energy supply but also to broader global trade and connectivity,” she noted.
Crude prices rise sharply
Oil prices have already surged as tensions intensified in the region.
Bharti said crude climbed from around $69 per barrel to nearly $78 per barrel within a week.
“In just one week we have seen prices move from about $69 to $78 per barrel. If tensions persist, crude could rise further to around $85–$87 per barrel in the coming days,” she said.
India’s reliance on Middle Eastern crude
India remains particularly vulnerable to such price shocks due to its heavy dependence on imported oil.
Bharti noted that roughly half of India’s crude imports come from the Middle East, and many domestic refineries are specifically configured to process Middle Eastern crude grades.
“India imports nearly 50% of its crude from the Middle East, so any disruption in the region directly impacts supply availability and pricing,” she said.
India maintains strategic petroleum reserves that can help cushion short-term disruptions, but Bharti emphasised that these are primarily meant for emergencies.
“We have reserves that can last about 25–30 days in emergency situations, but the structural dependence on Middle Eastern supply remains,” she said.
She added that even brief supply disruptions could trigger volatility across Asian financial markets.
“Even a two-week disruption could create significant volatility in Asia. We are already seeing pressure on currencies, equity outflows and rising economic uncertainty,” Bharti said.
Diversification may cushion the impact
Bharti said India could mitigate some risks by diversifying crude supply sources.
“Russia has been offering crude at discounted prices, so India may increase purchases from Russia or other suppliers if required. Adjusting supply chains and renegotiating trade arrangements can provide some relief,” she said.
She also pointed out that members of the Organization of the Petroleum Exporting Countries (OPEC) may attempt to stabilise prices, although security concerns could limit immediate production increases.
Impact on fertilisers and agriculture
Higher crude prices could also ripple into other sectors of the economy.
Bharti warned that rising energy costs may push up fertiliser prices and agricultural input costs, potentially affecting the upcoming kharif crop season.
“Higher energy costs could make fertilisers and farm inputs more expensive, which may increase the cost of cultivation for farmers,” she said.
Renewables gain strategic importance
Bharti added that the ongoing geopolitical tensions highlight the need for countries to accelerate the transition to renewable energy.
“Events like this are a wake-up call. Governments may increasingly prioritise renewable energy such as solar to reduce dependence on volatile fossil-fuel supply routes,” she said.
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March 06, 2026, 08:16 IST
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FDA official calls UniQure’s gene therapy a ‘failed’ treatment for Huntington’s disease
Thomas Fuller | SOPA Images | Lightrocket | Getty Images
UniQure needs to run another study to prove that its gene therapy “actually helps people with Huntington’s disease,” a senior U.S. Food and Drug Administration official said on a call with reporters Thursday.
The official, who requested anonymity before discussing sensitive information, confirmed the agency has asked the company to run a placebo controlled trial of its treatment, which is administered directly into the brain. UniQure has said that type of study isn’t ethical because it would require putting people under general anesthesia for hours, a characterization the official disputed.
“So what is really going on? UniQure is the latest company to make a failed therapy for Huntington’s patients,” the official said. “They likely acknowledge or understand at some deep level that their trial failed years ago, and instead of doing the right thing and running the correct clinical study, UniQure is performing a distorted or manipulated comparison in the mind of FDA.”
The comments mark the latest development in a messy public spat between UniQure and the FDA, and as the agency comes under fire for a number of recent drug approval application rejections, including some where companies have accused it of going back on previous guidance. FDA Commissioner Marty Makary in an interview with CNBC’s Becky Quick last week seemingly criticized UniQure’s gene therapy for Huntington’s disease. Makary didn’t name UniQure but described its treatment.
UniQure then accused the FDA of reversing its stance that the company’s clinical trial data would be sufficient to seek approval. UniQure’s study used an outside database to measure how patients with Huntington’s disease might decline without treatment, known as an external control. UniQure has said it wouldn’t be feasible to run a true randomized, double-blind placebo-controlled study, considered the gold standard, because it wouldn’t be ethical to make people undergo a sham hours-long brain surgery.
The FDA official said the agency “never agreed to accept this distorted comparison” and the FDA “never makes such assurances.” Instead, the “FDA will always say, ‘Well, we have to see the data when we get it.'”
UniQure didn’t immediately comment.
The company’s stock rose more than 10% on Thursday and has fallen 58% this year as of Thursday afternoon.
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