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The OECD raised its global economic outlook for 2023 on Tuesday but cut the growth forecast for next year as interest-rate hikes aimed at...

Ex-Formula One boss Bernie Ecclestone has admitted fraud after failing to declare more than £400million held in a trust in Singapore to the Government. The 92-year-old said “I plead guilty” at Southwark Crown Court on Thursday while standing in the well of the court wearing a dark suit and grey tie. On July 7, 2015, the billionaire failed to declare a trust in Singapore with a bank account containing around 650 million US dollars, worth about £400million at the time. The charge stated Ecclestone, who has three grown-up daughters, Deborah, Tamara and Petra, and a young son, Ace, had “established only a single trust, that being one in favour of your daughters, and other than the trust established for your daughters you were not the settlor nor beneficiary of any trust in or outside the UK”. Before his guilty plea, he had been due to face trial in November on the single fraud charge. The court heard Ecclestone had said “no” when asked by HMRC officers whether he had any links to any further trusts “in or outside the UK”. Prosecutor Richard Wright KC said: “That answer was untrue or misleading. “Mr Ecclestone knew his answer may have been untrue or misleading. “As of July 7, 2015, Mr Ecclestone did not know the truth of the position, so was not able to give an answer to the question. “Mr Ecclestone was not entirely clear on how ownership of the accounts in question were structured. “He therefore did not know whether it was liable for tax, interest or penalties in relation to amounts passing through the accounts. “Mr Ecclestone recognises it was wrong to answer the questions he did because it ran the risk that HMRC would not continue to investigate his affairs. “He now accepts that some tax is due in relation to these matters.” Read More FIA to review Qatar GP as ‘dangerous’ temperatures prompt driver complaints Lewis Hamilton and George Russell vent anger on radio after collision in Qatar Lewis Hamilton crashes out after first-corner collision with George Russell In his own words: Christian Horner on world champion Max Verstappen Angry Lance Stroll shoves personal trainer and storms out of interview Max Verstappen fastest in Qatar practice as he closes in on world championship

Kotaro Matsushima is the "Ferrari" who helped drive Japan to the 2019 Rugby World Cup quarter-finals -- now he's looking to find an extra gear as the Brave Blossoms launch...

Bill Holdings Inc. is in advanced talks to acquire Melio Payments, a provider of digital payment tools, people

Alix Earle's young brother stole hearts as he cheered for Braxton Berrios at the Miami Dolphins vs New York Jets game

China's Defense Ministry is accusing the United States of turning of Taiwan into a powder keg with its latest sales of military equipment to the self-governing island democracy

A £1 billion ($1.2 billion) corner of the UK economy is fearing for its future as Britain and

The US will send cluster munitions to Ukraine as part of a new military aid package, National Security Adviser Jake Sullivan confirmed on Friday, following months of debate within the Biden administration about whether to provide Kyiv with the controversial weapons banned by over 100 countries including key US allies.

A spate of thefts of rare Russian classics worth millions of euros from libraries across Eastern Europe has left a trail that points all the...

BEIJING China's titanium producers said on Wednesday they expect stronger demand for the lightweight metal after the launch

A group of women who accused Bill Cosby of sexual assault and were dismayed when he had his conviction overturned and left prison are trying again to seek justice in the courts