Good morning and welcome to Money Minute, where we preview the day's biggest financial stories.
In the eurozone, we get German industrial production for December. Activity in the German manufacturing industry has been contracting for five quarters in a row.The sector has started to see tentative signs of recovery - or at least, activity isn’t slowing as rapidly as it was.However, it's likely that December’s reading will confirm that the industry remained mired in recession at the end of last year.
In the US meanwhile, we get the latest nonfarm payrolls data. Analysts expect the US economy to have added around 160,000 jobs last month.Meanwhile, wages are expected to be up 3% on last year.
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The Federal Reserve has already made it clear that it has no intention of raising interest rates any time soon, at least, not until inflation has reared its head far more aggressively.So markets will probably be hoping for a figure that beats expectations.That would take some of the edge off fears that the coronavirus will hurt global growth this year.
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What is the 25x retirement rule and does it work?The 25x retirement rule has been around for decades but many experts question if it is a suitable strategy
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When is the self-assessment tax return deadline?If you are self-employed, rent out a property or earn income from savings or investments, you may need to complete a self-assessment tax return. We run through the deadlines you need to know about
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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 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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Would a food price cap actually work?Analysis The government is discussing plans to cap the prices of essentials. But could this intervention do more harm than good?
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Is my pay keeping up with inflation?Analysis High inflation means take home pay is being eroded in real terms. An online calculator reveals the pay rise you need to match the rising cost of living - and how much worse off you are without it.
