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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M&S and Tesco among those warning of a £7bn Budget hitSeventy-nine UK retailers have written to Chancellor Rachel Reeves about possible price rises and job cuts - here is what it means
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How much does it cost to move home under the Labour government?Home-moving costs are rising and could get more expensive once stamp duty thresholds drop in April 2025
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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 governmentIt’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 debtThe 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 growthGross 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 highStubborn 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 moneyInflation 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.
