Good morning and welcome to Money Minute, where we preview the day's biggest financial stories.
Today in the UK we get the initial estimate for fourth quarter GDP growth. The UK’s economic output is expected to have increased by a fairly mediocre 0.9% year on year. However, more recent data suggests that activity has picked back up since the election - although the potential impact of coronavirus on global growth remains to be seen.
In corporate news, we get a trading update from troubled motoring services group AA and first quarter earnings from tour operator TUI. We also get full-year results from grocery delivery specialists Ocado. Investors will be particularly keen to hear how the company’s tie-up with Marks & Spencer is going.
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Over in the US, voting in the New Hampshire primary takes place today. Bernie Sanders, Pete Buttigieg and Mike Bloomberg currently look like the front runners, with previous favourite Joe Biden close to written off.
However, whoever they plan to vote for, Democrats across the board will be hoping that it all goes more smoothly than the Iowa debacle.
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Christmas at Chatsworth: review of The Cavendish Hotel at BaslowMoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
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Tycoon Truong My Lan on death row over world’s biggest bank fraudProperty tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
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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.
