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.
Trading terms: The Santa Rally
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By Dr Matthew Partridge Published
Lock in high yields on savings, before they disappear
As interest rates peak, time to lock in high yields on your savings, while they are still available.
By Ruth Jackson-Kirby Published
UK wages grow at a record pace
The latest UK wages data will add pressure on the BoE to push interest rates even higher.
By Nicole García Mérida Published
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.
By Max King Published
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?
By Alex Rankine Published
UK economy avoids stagnation with surprise growth
Gross domestic product increased by 0.2% in the second quarter and by 0.5% in June
By Pedro Gonçalves Published
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
By Ruth Emery Published
UK wage growth hits a record high
Stubborn inflation fuels wage growth, hitting a 20-year record high. But unemployment jumps
By Vaishali Varu Published
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?
By John Fitzsimons Published
VICE bankruptcy: how did it happen?
Was the VICE bankruptcy inevitable? We look into how the once multibillion-dollar came crashing down.
By Jane Lewis Published