The Bank of England expects Rachel Reeves’s budget will reduce the UK’s headline inflation rate by as much as half a percentage point next year. In a boost for the chancellor after last month’s high-stakes tax and spending statement, Clare Lombardelli, a deputy governor at the central bank, said its early analysis showed the policies … Read more
A divided Federal Reserve meets this week to decide whether to cut interest rates, the US central bank’s last meeting before the end of a tumultuous year. The US central bank faces a number of unique challenges as it weighs its latest interest-rate decision. After the six-week government shutdown briefly shuttered the Bureau of Labor … Read more
Introduction: Trump clears way for Nvidia to sell powerful AI chips to China Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. Donald Trump has been accused of a “colossal economic and national security failure” for allowing Nvidia to export its H200 artificial intelligence chip to China. … Read more
A boom in exports that has pushed China’s trade surplus past $1tn for the first time reveals the extent to which its economy is still overwhelmingly reliant on foreign markets – and the difficulty figures like Donald Trump will have in trying to rebalance global trade. Data released on Monday shows that in the first … Read more
The Bank of England has said it is cutting jobs amid sweeping changes at Threadneedle Street after a highly critical review into its failure to forecast surging inflation. Under budget pressures as it responded to the report from the former US Federal Reserve chair Ben Bernanke, the Bank has opened a voluntary scheme last week … Read more
UK households cut back on spending at the fastest pace in almost five years last month as consumers put Christmas shopping on hold, according to a leading survey. Adding to concerns that uncertainty surrounding the budget has helped dampen consumer confidence, Barclays said card spending fell 1.1% year on year in November – the largest … Read more
Key events Show key events only Please turn on JavaScript to use this feature Introduction: China’s trade surplus hits $1tn Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. China’s annual trade surplus has exceeded $1trn for the first time, as the manufacturing powerhouse shrugged off the … Read more
My husband, Bill Kingdom, who has died aged 69, was a global leader in water supply and sanitation. He worked for 20 years with the World Bank, based in Washington DC from 1999 to 2019, where he led urban and rural water supply and sanitation projects. He developed innovative financial and governance frameworks in south … Read more
Entering Printemps in downtown New York City feels like an escape. A slight smell of musk hangs in the air as shoppers weave carefully around racks of coats and shelves of handbags and shoes. For the holidays, the store set up a small ice rink on its second floor where skaters perform on weekends. The … Read more
Nikhil Rathi, chief executive of the Financial Conduct Authority, made a pilgrimage on Friday from its glass and steel HQ in east London to the Pioneers Museum in Rochdale – the spiritual home of the co-operative movement. His unlikely day trip aimed to highlight the City watchdog’s role in opening the way to a doubling … Read more