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, Barclays bank delivers its annual results. Profits after all the usual “exceptional" costs are expected to come in ahead of last year, at just over £6 billion.
British Gas owner Centrica also reports its full-year figures. Investors will be paying attention to the damage done by the impact of the government’s energy price cap.
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Over in the US, we get the usual weekly initial jobless claims data. The US labour market has continued to be strong, and so far shows few signs of slowing down.
The latest report on US consumer price inflation is also due. Core consumer prices are expected to have risen at an annual rate of 2.2% in January. That would be a dip on December’s reading of 2.3%, and certainly tame enough to keep the US central bank – the Federal Reserve – from raising interest rates any time soon.
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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.
