62 h. ago US consumer confidence hit by tariff fears; Thames Water’s finance chief leaving within days – business live

Rolling coverage of the latest economic and financial newsOver in Germany, the number of people out of work has risen at the fastest rate since October of 2024.The German labour office said the number of unemployed increased by 26,000 in seasonally adjusted terms to 2.92 million. Analysts polled by Reuters had expected that figure to rise by 10,000.“March marks the start of the so-called spring recovery on the labour market. This year, however, the economic slump is noticeably slowing it down.”One bright spot was the impressive 1.9% q/q (CE forecast 0.7% q/q) rise in consumers’ real incomes in Q4. The 4.2% rise in 2024 as a whole suggests households experienced the strongest real income growth in nine years.With consumer spending hardly rising, at 12.0% in Q4 (up from 10.3% in Q3), the saving rate remains unusually high, suggesting households are choosing to save rather than spend the bulk of those gains. Continue reading...

Economics

63 h. ago Tariff uncertainty risks ‘significant economic damage’; Thames Water’s finance chief leaving within days – business live

Rolling coverage of the latest economic and financial newsOver in Germany, the number of people out of work has risen at the fastest rate since October of 2024.The German labour office said the number of unemployed increased by 26,000 in seasonally adjusted terms to 2.92 million. Analysts polled by Reuters had expected that figure to rise by 10,000.“March marks the start of the so-called spring recovery on the labour market. This year, however, the economic slump is noticeably slowing it down.”One bright spot was the impressive 1.9% q/q (CE forecast 0.7% q/q) rise in consumers’ real incomes in Q4. The 4.2% rise in 2024 as a whole suggests households experienced the strongest real income growth in nine years.With consumer spending hardly rising, at 12.0% in Q4 (up from 10.3% in Q3), the saving rate remains unusually high, suggesting households are choosing to save rather than spend the bulk of those gains. Continue reading...

Economics

65 h. ago China’s Xi urges global CEOs to protect trade supply chains; UK’s 2024 growth revised higher, but households hoard cash – business live

Rolling coverage of the latest economic and financial newsOver in Germany, the number of people out of work has risen at the fastest rate since October of 2024.The German labour office said the number of unemployed increased by 26,000 in seasonally adjusted terms to 2.92 million. Analysts polled by Reuters had expected that figure to rise by 10,000.“March marks the start of the so-called spring recovery on the labour market. This year, however, the economic slump is noticeably slowing it down.”One bright spot was the impressive 1.9% q/q (CE forecast 0.7% q/q) rise in consumers’ real incomes in Q4. The 4.2% rise in 2024 as a whole suggests households experienced the strongest real income growth in nine years.With consumer spending hardly rising, at 12.0% in Q4 (up from 10.3% in Q3), the saving rate remains unusually high, suggesting households are choosing to save rather than spend the bulk of those gains. Continue reading...

Economics

67 h. ago China’s Xi urges global CEOs to protect trade supply chains; UK’s 2024 growth revised higher – business live

Rolling coverage of the latest economic and financial newsToday’s UK national accounts data also shows that people stashed away more of their money into savings at the end of last year.The household saving ratio, which measure the proportion of income that is saved, rose to 12% in October-December 2024, up from 10.3% in the third quarter of last year.One bright spot was the impressive 1.9% q/q (CE forecast 0.7% q/q) rise in consumers’ real incomes in Q4. The 4.2% rise in 2024 as a whole suggests households experienced the strongest real income growth in nine years.With consumer spending hardly rising, at 12.0% in Q4 (up from 10.3% in Q3), the saving rate remains unusually high, suggesting households are choosing to save rather than spend the bulk of those gains.Non-food stores – the total of department, clothing, household and other non-food stores – rose by 3.1% over the month. This put monthly sales volumes at their highest level since March 2022.“The exceptional volatility in rec...

Economics

3 d. ago Business News: Travelodge and Next announce cash boost as Morrisons sales jump against backdrop of job cuts

Watch today’s business stories in under two minutes.

Economics

4 d. ago Spring statement in full: Watch Rachel Reeves announce benefits cuts and £2.2bn defence boost

Watch as Rachel Reeves delivers her spring statement on the state of the UK economy on Wednesday, 26 March.

Economics

4 d. ago Rachel Reeves has given John Swinney another boost in his bid to win the Holyrood election

Daily Record Political Editor Paul Hutcheon says the Chancellor's self-imposed fiscal rules are harming Scottish Labour's chances of winning next year.

Politics

4 d. ago Spring statement livestream: Rachel Reeves announces deeper benefits cuts and £2.2bn defence boost

Watch live as Rachel Reeves delivers her spring statement on the state of the UK economy on Wednesday, 26 March.

Economics

4 d. ago Odds of Bank of England interest rate cut strengthen after inflation falls to 2.8%

Bigger-than-forecast decline in annual rate in February is positive news for Rachel ReevesBusiness live – latest updatesThe odds of the Bank of England cutting interest rates in May have been strengthened after inflation cooled by more than forecast last month.In a boost for Rachel Reeves on the day of the chancellor’s spring statement, the Office for National Statistics said inflation as measured by the consumer prices index eased to 2.8% in February from 3% in January. Continue reading...

Economics

4 d. ago Confidence plummeting among UK food and drink manufacturers, survey shows

Food and Drink Federation says business confidence fell to -47% amid inflation, energy and labour pressuresConfidence is tumbling among Britain’s food and drink manufacturers, as inflationary pressures including energy, labour and raw material costs gain pace, according to a survey by the industry body.Business confidence plummeted to -47% in the final three months of last year, according to the Food and Drink Federation (FDF), down from -6% in the previous quarter, as companies in the sector were hit by measures announced in the October budget. Continue reading...

Politics

4 d. ago FTSE 100 Live 26 March: Inflation boost ahead of Chancellor statement, Ocado surges

Chancellor Rachel Reeves is set to announce welfare cuts and a boost to defence spending when she delivers a statement to parliament today.

Economics

4 d. ago FTSE 100 Live 26 March: Inflation cheer ahead of Chancellor statement, Vistry halts dividend

Chancellor Rachel Reeves is set to announce welfare cuts and a boost to defence spending when she delivers a statement to parliament today.

Economics

4 d. ago Budget 2025 latest: Inflation boost for Rachel Reeves ahead of spring statement

The chancellor is under pressure to deliver in her spring statement

Economics

4 d. ago UK inflation falls by more than anticipated, in a boost to the government ahead of a key statement

Official figures show price rises in the U.K. moderated by more than anticipated in February, in a boost for Treasury chief Rachel Reeves before she delivers a statement to lawmakers about the state of the public finances

Politics

4 d. ago UK economy receives welcome boost ahead of Rachel Reeves' Spring Statement as inflation falls to 2.8%

The rate of Consumer Prices Index (CPI) inflation fell to 2.8% in February from 3% in January, the Office for National Statistics (ONS) said

Economics

4 d. ago Budget 2025 latest: Inflation drop brings boost for Rachel Reeves ahead of spring statement

The Chancellor of the Exchequer is under pressure to deliver in her spring statement

Economics

4 d. ago Inflation falls to 2.8% in boost for Rachel Reeves ahead of spring statement

The chancellor is set to deliver her spring statement later on Wednesday

Economics

4 d. ago Brits' hopes of interest rate cuts are boosted as inflation eases to 2.8%

UK inflation eased by more than expected last month to 2.8 per cent, new official figures show, delivering a boost to Chancellor Rachel Reeves ahead of her spring statement.

Economics

5 d. ago Reeves to unveil £2.2bn UK defence spending boost in Spring Statement

Money for increase from April will come from aid budget and backup funds

Economics

5 d. ago Chancellor's £2bn housebuilding boost welcomed as charities urge for majority to be social homes

The investment is aimed at helping to fulfil the Government’s pledge to build 1.5 million new homes over the next five years.

Society