Good morning and welcome to Money Minute, where we preview the day's biggest financial stories.
In the UK this morning, we get full-year results from pharma giant AstraZeneca, and also from Britain’s state-owned bank, RBS.
Over in the eurozone, we get fourth-quarter GDP data for Germany and also for the eurozone as a whole. Economic output is expected to have risen at an anaemic rate in Germany last year.
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Indeed, research consultancy Capital Economics reckons that German GDP probably shrunk a little during the fourth quarter. If that happens, then it’s quite possible that Germany could slip into recession during the first three months of this year, particularly if the coronavirus has a larger global impact than currently feared.
In the US, we get retail sales data for January. The US consumer is one of the most important economic forces in the world. Investors will be hoping that the retail sales data will demonstrate that American shoppers are still keen to splash the cash, whatever else is going on in the world.
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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.
