In the economic gloom of Labour’s first year in power, Rachel Reeves has had a reliable shred of comfort to cling to: five times since the general election, the Bank of England has cut interest rates. This week, in all likelihood, the chancellor will get a sixth to shout about, as Threadneedle Street prepares to … Read more
There is a heavy cloud hanging over Labour’s Christmas celebrations. The most recent figures show the economy is going backwards and worse, the slide is prompting recession talk in the corridors of City banks. If there is a recession, it will only be slight, but with unemployment rising and businesses reluctant to invest, the economy … Read more
We are raiding the Guardian long read archives to bring you some classic pieces from years past, with new introductions from the authors. This week, from 2022: as the world faces the worst debt crisis in decades, the need for a global lender of last resort is clearer than ever. But many nations view the … Read more
Britain’s economy shrank unexpectedly in October as consumers held back on spending before Rachel Reeves’s budget, and car manufacturing struggled to recover from the cyber-attack on Jaguar Land Rover. Figures from the Office for National Statistics (ONS) showed gross domestic product fell by 0.1%, after a 0.1% drop in output in September. City economists had … Read more
Streeting says he won’t be able to guarantee patient safety in NHS if resident doctors’ strike goes ahead Wes Streeting, the health secretary, is being interviewed on on LBC. The presenter is Nick Ferrari. Streeting said the flu was putting the NHS under the worst pressure since Covid. There is a particularly aggressive strain of … Read more
Overbearing health and safety rules are stopping Britain building new infrastructure, according to the economist whom Keir Starmer has cited as an inspiration for his growth strategy. John Fingleton, who recently wrote a report for government on how to encourage developers to build new nuclear power plants, told the Guardian regulators needed to change their … Read more
Introduction: UK GDP report for October coming up…. Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. The important thing about last month’s budget is that we now have certainty, as one FTSE 100 CEO told me last week; no more endless speculation about which taxes might … Read more
Key events Show key events only Please turn on JavaScript to use this feature The disappointment over Oracle’s earnings report is rippling through the AI sector. In Japan, shares in Softbank – a major AI investor – have fallen by 7.7%, pulling down the Nikkei 225 stock index. Tokai Tokyo Intelligence Laboratory market analyst Shuutarou … Read more
Rachel Reeves has condemned leaks before her make-or-break budget as “unacceptable” as she revealed her income tax U-turn was agreed in partnership with Keir Starmer. Defending her tax and spending plans before MPs on the Commons Treasury committee, the chancellor said she had been frustrated by “leaks that were clearly not authorised” before her November … Read more
Key events Show key events only Please turn on JavaScript to use this feature Introduction: SpaceX aiming for $1.5tn valuation Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. Elon Musk’s SpaceX is aiming to hold one of the biggest stock market listings of all time next … Read more