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Company cites ‘continued political polarization’ and risks to the nation’s fiscal strength as reason for changeThe credit ratings agency Moody’s reduced its outlook on the US government from stable to negative, citing division in Washington DC and risk…
Bank of England is unlikely to cut interest rates any time soon and Treasury unlikely to cut taxes due to fear of higher inflationUK economy flatlines in third quarter amid high interest ratesBusiness live – latest updatesLike a sailing ship trapped in…
Rolling coverage of the latest economic and financial news, as UK GDP is unchanged in July-SeptemberFull story: UK economy flatlines in third quarter amid high interest ratesAnalysis: UK economy continues sideways drift with no sign of upliftFull story…
Zero growth also underlines impact of inflation on consumer spending and business activityThe UK economy flatlined between July and September, compared with the previous three months, as the impact of high interest rates and inflation weighed on consum…
Thinktank says stronger than expected tax revenues have given chancellor scope for bold package in autumn statement Jeremy Hunt risks condemning Britain to a decade in the doldrums unless he uses this month’s autumn statement to announce a £30bn-a-year…
Retailers hope new version of top-selling board game plus Dog-E will help fuel festive sales recoveryA new version of Pictionary that pits artist against artificial intelligence and a pet “robo-dog” with a wagging tail are among the toys destined to ap…
Upmarket estate agent says prices will start to bottom out in 2024 as interest rates fall and will return to growth in 2025 Britain’s housing market is past “peak pain” and prices look likely to bottom out by next summer, according to the estate agency…
Upbeat comments by Associated British Foods CEO come as grocery price rises fall to single digits for first time in 18 monthsFood inflation could be all but gone by Easter, according to the owner of Kingsmill bread, Twinings tea and Silver Spoon sugar …
Butter, dried pasta and milk among items to show drops as supermarket price rises slowBusiness live – latest updatesFood price inflation has dropped to single digits for the first time in a year and a half, as the cost of living crisis eases slightly.G…
Drop in retail sales also because of consumer worries over high energy bills and mortgages, surveys suggestFears that the UK is heading for a recession this winter have intensified amid signs Britain’s hard-pressed households are cutting spending as th…