Guardian Live Business Blog
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On our blog we provide live news coverage of the latest events in global financial markets, the economy and major corporate moves, with instant reaction and analysis from our own team of reporters and experts around the world.
Guardian Live Business Blog
2d ago
Rolling coverage of the latest economic and financial news, as FTSE 100 hits alltime high of 8076 points
Full story: FTSE 100 hits record high as shares rise amid hopes of interest rate cuts
The London stock market is benefitting from expectations that interest rates will be cut sooner in the UK than in the US.
The Financial Times reports this morning that some traders are building up bets that the US Federal Reserve will raise interest rates higher, as inflationary pressures in America look stubbornly high.
With economic growth still lagging many of its G7 peers, the UK has turned this to i ..read more
Guardian Live Business Blog
2d ago
Rolling coverage of the latest economic and financial news
FTSE 100 hits record closing high amid hopes of interest rate cuts
Footsie turns 40: FTSE 100’s rise, rise and stagnation over four decades
The City money markets are brought forward their forecast for the Bank of England’s first interest rate cut to August.
City investors are pricing in a more rapid easing from the BoE this morning, after its deputy governor Sir Dave Ramsden predicted on Friday that UK inflation could be lower than expected over the next few years ..read more
Guardian Live Business Blog
1w ago
Rolling coverage of the latest economic and financial news
Yesterday’s smaller-than-expected fall in the UK’s inflation rate hasn’t had any immediate impact on the mortgage market.
Moneyfacts have reported that average borrowing rates are unchanged this morning, saying:
The average 2-year fixed residential mortgage rate today is 5.81%. This is unchanged from the previous working day.
The average 5-year fixed residential mortgage rate today is 5.39%. This is unchanged from the previous working day.
Trading conditions have continued to be volatile with March in particular seeing softer levels of ..read more
Guardian Live Business Blog
1w ago
City investors trim their forecasts for rate cuts this year, after inflation falls by less than expected to 3.2%
Full story: UK inflation falls to 3.2%, the lowest level since September 2021
Middle East conflict risks sharp rise in oil prices, says IMF
The UK’s annual inflation rate fell in March for a second consecutive month, dropping to 3.2% – the lowest level since September 2021 – easing pressure on households amid the cost of living crisis.
Figures from the Office for National Statistics (ONS) show inflation as measured by the consumer prices index continued to fall from 3.4% in Febru ..read more
Guardian Live Business Blog
1w ago
IMF scenario shows how a 15% jump in oil prices would push up global inflation by 0.7 percentage points
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UK unemployment rate leaps to 4.2% amid fears of job cuts
The Resolution Foundation have dug into today’s UK jobs data, and found that economic inactivity has risen to its highest level since 2015 among working age people.
Resolution explain:
This rise is broad based – the inactivity rate is up (and the employment rate down) for all age groups except those aged 35-49, and in all English regions outside London and the South East.
The number of people inactive ..read more
Guardian Live Business Blog
1w ago
Chancellor cheers 0.1% rise in GDP, but IoD fears economy still fragile
Bank of England forecasts undermined by out-of-date-methods, report finds
UK takes another step on path to exit recession as GDP rises
City experts sound confident that the UK economy will pull itself out of recession.
Today’s news that the economy grew by 0.1% in February and 0.3% in January bolsters hopes that GDP did not shrink in the January-March quarter.
“The UK has continued its positive start to the year as GDP grew again in February, albeit only marginally, and looks on course to be pulled out of the short and s ..read more
Guardian Live Business Blog
1w ago
European Central Bank says rate cuts would be appropriate if inflation keeps falling, as BoE policymaker Megan Greene argues UK rate cuts are a way off
There’s takeover drama in the self-storage world this morning, as another UK company falls to a foreign buyer.
Europe’s Shurgard has agreed a deal to buy London-listed Lok’nStore, in a deal worth £378m ..read more
Guardian Live Business Blog
2w ago
Rolling coverage of the latest economic and financial news
Rising home and gas costs pushed US inflation higher than expected in March
Tesco says grocery inflation has lessened as it plans £500m efficiency savings
Ratings agency downgrades China debt outlook over economic uncertainty
Fitch’s downgrading of China’s credit outlook today highlights the dilemma that policymakers are facing, as they try to stimulate growth and cut debt levels, explains Lynn Song, chief economist for Greater China at ING:
On one hand, there is certainly a need to support economic growth in the near term, and fisca ..read more
Guardian Live Business Blog
2w ago
Rolling coverage of the latest economic and financial news, as gold rises almost 1% today to $2,365 per ounce
UK retailers given hope of ‘green shoots of recovery’ after Easter pickup
Mexican precious metals mining company Fresnillo is benefitting from the rally in gold and silver.
Fresnillo is leading the risers on the UK’s FTSE 100 share index this morning, up 4.4%, to its highest level since the start of January.
Iran’s explicit threat of military retaliation following Israel’s targeting of its Syrian embassy has escalated tensions, amplifying the spectre of a broader regional conflict wi ..read more
Jaguar Land Rover sales jump 22%; 15 Ted Baker stores to close, with 245 job losses – as it happened
Guardian Live Business Blog
2w ago
Rolling coverage of the latest economic and financial news
John Lewis names former Tesco UK boss as next chair of group
Jason Tarry says:
“The Partnership and its brands stand for trust, value, quality and service and it’s a great privilege to be succeeding Sharon as the seventh Chairman.
The Partnership is unique and I’ve long been an admirer of the employee-ownership model, its values and Partner-led customer service. This starts with a sharp focus on being brilliant retailers for customers and investing in growth.
“The Board extends its huge thanks to Sharon for successfully leading the P ..read more