Good morning and welcome to Money Minute, where we preview the day's biggest financial stories.
On the corporate front in the UK this morning, we get a trading update from parcel delivery group Royal Mail. Performance over Christmas will be a key focus for investors, given the company’s need to grab a bigger share of the market for online shopping deliveries.
There are also trading updates from catering giant Compass, ingredients group Tate & Lyle, and fashion retailer Superdry. Half-year trading updates are due from asset manager Ashmore, and from specialist engineering group Filtronic.
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Over in the US, we get the weekly initial jobless claims data. In effect, this shows how many people joined the dole queue in the US for the first time last week. The claims data is the most timely US labour market release. It’s closely watched as a result. If the US economy is slowing down, it’ll show up here first. However, this week its importance will be overshadowed by the monthly nonfarm payrolls report, due out tomorrow.
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SIPP holders to get cash warnings and be offered default fundsNews Providers will be required to offer investors a default fund and must warn customers of the inflationary risk of cash savings the regulator has said. What the new rules mean for your retirement pot?
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Zoopla: Asking price discounts hit a five-year high – is now the time to buy a property?
News Zoopla’s October House Price Index shows sellers are accepting discounts of 5.5% on average to secure a sale – we reveal where homeowners are taking the biggest asking price cuts
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UK wages grow at a record pace
The 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.
