Good morning and welcome to Money Minute, where we preview the day's biggest financial stories.
In the UK today, we get full-year earnings from oil major BP, software group Micro Focus International, and property group St Modwen. We also get a trading update from electronics distributor Electrocomponents, whose chief executive had to take a medical leave of absence in November.
What with a weak oil price and concerns over the value of shale assets, BP investors will be primed for disappointment. They’ll also be looking for news on the company’s renewables investments, given the sense that the days of fossil fuels are numbered.
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In the US, President Donald Trump gives the annual State of the Union address. Trump is likely to make the case for his re-election in November this year. He is not expected to raise the matter of his potential impeachment.
Over in China later, we'll get the most recent survey of services sector activity for January. However, this data won’t cover the point at which measures to contain the coronavirus outbreak were escalated, so the survey needs to be taken with a pinch of salt.
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UK wages grow at a record paceThe latest UK wages data will add pressure on the BoE to push interest rates even higher.
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Trapped in a time of zombie government
It’s not just companies that are eking out an existence, says Max King. The state is in the twilight zone too.
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America is in deep denial over debt
The downgrade in America’s credit rating was much criticised by the US government, says Alex Rankine. But was it a long time coming?
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UK economy avoids stagnation with surprise growth
Gross domestic product increased by 0.2% in the second quarter and by 0.5% in June
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Bank of England raises interest rates to 5.25%
The Bank has hiked rates from 5% to 5.25%, marking the 14th increase in a row. We explain what it means for savers and homeowners - and whether more rate rises are on the horizon
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UK wage growth hits a record high
Stubborn inflation fuels wage growth, hitting a 20-year record high. But unemployment jumps
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UK inflation remains at 8.7% ‒ what it means for your money
Inflation was unmoved at 8.7% in the 12 months to May. What does this ‘sticky’ rate of inflation mean for your money?
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VICE bankruptcy: how did it happen?
Was the VICE bankruptcy inevitable? We look into how the once multibillion-dollar came crashing down.
