19 h. ago Wall Street hits record highs after US inflation report fuels interest rate cut hopes – business live

US consumer prices rose by less than expected last month, as markets digest breakdown of trade talks with CanadaUS prices rose at a 3% annual rate in September, slightly beating forecastsNewsflash: Conditions appear to be improving in the UK economy this month.The latest poll of purchasing managers at British firms has found that growth is picking up after the lull in September, partly helped by the resumption of manufacturing at Jaguar Land Rover after its recent cyber attack.“October’s flash UK PMI survey brings hope that September was a low point for the economy from which business conditions are starting to improve.Output has picked up, with a particularly welcome return to growth for manufacturing for the first time in over a year accompanied by an upturn in demand for services, notably among consumers. Business confidence has also brightened slightly, job losses have moderated, and inflationary pressures are coming back to levels consistent with the Bank of England’s 2% target...

Economics

23 h. ago Business conditions ‘starting to improve’ in UK economy as activity picks up – business live

Rolling coverage of the latest economic and financial newsNewsflash: Conditions appear to be improving in the UK economy this month.The latest poll of purchasing managers at British firms has found that growth is picking up after the lull in September, partly helped by the resumption of manufacturing at Jaguar Land Rover after its recent cyber attack.“October’s flash UK PMI survey brings hope that September was a low point for the economy from which business conditions are starting to improve.Output has picked up, with a particularly welcome return to growth for manufacturing for the first time in over a year accompanied by an upturn in demand for services, notably among consumers. Business confidence has also brightened slightly, job losses have moderated, and inflationary pressures are coming back to levels consistent with the Bank of England’s 2% target. Continue reading...

Economics

24 h. ago Business condition ‘starting to improve’ in UK economy as activity picks up – business live

Rolling coverage of the latest economic and financial newsNewsflash: Conditions appear to be improving in the UK economy this month.The latest poll of purchasing managers at British firms has found that growth is picking up after the lull in September, partly helped by the resumption of manufacturing at Jaguar Land Rover after its recent cyber attack.“October’s flash UK PMI survey brings hope that September was a low point for the economy from which business conditions are starting to improve.Output has picked up, with a particularly welcome return to growth for manufacturing for the first time in over a year accompanied by an upturn in demand for services, notably among consumers. Business confidence has also brightened slightly, job losses have moderated, and inflationary pressures are coming back to levels consistent with the Bank of England’s 2% target. Continue reading...

Economics

4 d. ago Amazon says Web Services are recovering after outage hits millions of users – business live

Fortnite, Roblox, SnapChat, Lloyds Bank, Ring doorbells and Amazon’s own shopping site among services hit by online outageFull story: Amazon Web Services outage hits dozens of websites and appsHeads-up: UBS have upgraded their view on global equities to ‘attractive’, a sign that they think investors should be putting more money into shares.Despite the angst in parts of the market that valuations have risen too high, UBS reckon share prices have further to climb.“We think investors should review current allocations to equities and ensure they are at least consistent with, or modestly higher than, their long-term strategic asset allocation targets. If investors are currently under allocated to equities, we believe they should reallocate excess cash, bond, or high yield credit holdings toward stocks.”“We prefer areas that are exposed to secu­lar growth, like the US, China, (particularly China’s tech sector, which we rate among the Most Attractive sectors globally), as well as global te...

Economics

4 d. ago Amazon battles to fix Web Services outage after millions of users report disruption to websites and apps – business live

Fortnite, Roblox, SnapChat, Lloyds Bank and Ring doorbells among services hit by online outageFull story: Amazon Web Services outage hits dozens of websites and appsHeads-up: UBS have upgraded their view on global equities to ‘attractive’, a sign that they think investors should be putting more money into shares.Despite the angst in parts of the market that valuations have risen too high, UBS reckon share prices have further to climb.“We think investors should review current allocations to equities and ensure they are at least consistent with, or modestly higher than, their long-term strategic asset allocation targets. If investors are currently under allocated to equities, we believe they should reallocate excess cash, bond, or high yield credit holdings toward stocks.”“We prefer areas that are exposed to secu­lar growth, like the US, China, (particularly China’s tech sector, which we rate among the Most Attractive sectors globally), as well as global technology, transformational i...

Economics

4 d. ago Amazon Web Services outage: 6.5m reports of disruption as many websites and apps hit – business live

Fortnite, Roblox, SnapChat, Lloyds Bank and Ring doorbells among services hit by online outageFull story: Amazon Web Services outage hits dozens of websites and appsHeads-up: UBS have upgraded their view on global equities to ‘attractive’, a sign that they think investors should be putting more money into shares.Despite the angst in parts of the market that valuations have risen too high, UBS reckon share prices have further to climb.“We think investors should review current allocations to equities and ensure they are at least consistent with, or modestly higher than, their long-term strategic asset allocation targets. If investors are currently under allocated to equities, we believe they should reallocate excess cash, bond, or high yield credit holdings toward stocks.”“We prefer areas that are exposed to secu­lar growth, like the US, China, (particularly China’s tech sector, which we rate among the Most Attractive sectors globally), as well as global technology, transformational i...

Events

4 d. ago ‘Signs of recovery’ claims Amazon Web Services after internet outage hits many websites and apps – business live

Fortnite, Roblox, SnapChat, Lloyds Bank and Ring doorbells among services hit by online outage Heads-up: UBS have upgraded their view on global equities to ‘attractive’, a sign that they think investors should be putting more money into shares.Despite the angst in parts of the market that valuations have risen too high, UBS reckon share prices have further to climb.“We think investors should review current allocations to equities and ensure they are at least consistent with, or modestly higher than, their long-term strategic asset allocation targets. If investors are currently under allocated to equities, we believe they should reallocate excess cash, bond, or high yield credit holdings toward stocks.”“We prefer areas that are exposed to secu­lar growth, like the US, China, (particularly China’s tech sector, which we rate among the Most Attractive sectors globally), as well as global technology, transformational inno­vations (AI, Power and resources, and Longevity), and pockets with...

Events

5 d. ago Major internet outage hits websites, apps and Lloyds Bank after issue at Amazon Web Services – business live

Fortnite, Roblox, SnapChat, Lloyds Bank and Ring doorbells among services hit by online outage Heads-up: UBS have upgraded their view on global equities to ‘attractive’, a sign that they think investors should be putting more money into shares.Despite the angst in parts of the market that valuations have risen too high, UBS reckon share prices have further to climb.“We think investors should review current allocations to equities and ensure they are at least consistent with, or modestly higher than, their long-term strategic asset allocation targets. If investors are currently under allocated to equities, we believe they should reallocate excess cash, bond, or high yield credit holdings toward stocks.”“We prefer areas that are exposed to secu­lar growth, like the US, China, (particularly China’s tech sector, which we rate among the Most Attractive sectors globally), as well as global technology, transformational inno­vations (AI, Power and resources, and Longevity), and pockets with...

Economics

7 d. ago Nearly £11bn wiped off UK banks after US regional banking fears spooked markets – business live

European stock markets have fallen after two US regional lenders disclosed on Thursday that they were exposed to alleged fraud by borrowersGlobal markets fall and gold hits record high amid jitters over US banksUS regional bank stocks fall amid Wall Street concern over credit marketsStorm clouds are gathering over the financial markets, warns Richard Hunter, head of markets at interactive investor:There are increasing signs of storm clouds gathering over markets, with little relief from the building wall of worry.Already grappling with stretched stock valuations in the AI space, an unresolved government shutdown and a deteriorating relationship between Beijing and Washington, investors were exposed to a new source of concern in the form of lending practices and bad loans for US regional banks. Continue reading...

Economics

7 d. ago FTSE 100 slides as US regional bank worries rock markets – business live

Fear index jumps, and European markets follow Asia lower, as bad loan fears hit valuationsGlobal markets fall and gold hits record high amid jitters over US banksUS regional bank stocks fall amid Wall Street concern over credit marketsStorm clouds are gathering over the financial markets, warns Richard Hunter, head of markets at interactive investor:There are increasing signs of storm clouds gathering over markets, with little relief from the building wall of worry.Already grappling with stretched stock valuations in the AI space, an unresolved government shutdown and a deteriorating relationship between Beijing and Washington, investors were exposed to a new source of concern in the form of lending practices and bad loans for US regional banks. Continue reading...

Economics

8 d. ago FTSE 100 heading for worst day since April as US regional bank worries rock markets – business live

Rolling coverage of the latest economic and financial news, as FTSE 100 share index sheds 150 points in early tradingUS regional bank stocks fall amid Wall Street concern over credit marketsStorm clouds are gathering over the financial markets, warns Richard Hunter, head of markets at interactive investor:There are increasing signs of storm clouds gathering over markets, with little relief from the building wall of worry.Already grappling with stretched stock valuations in the AI space, an unresolved government shutdown and a deteriorating relationship between Beijing and Washington, investors were exposed to a new source of concern in the form of lending practices and bad loans for US regional banks. Continue reading...

Economics

8 d. ago Stock markets hit by US regional bank worries and trade tensions – business live

Rolling coverage of the latest economic and financial newsFears are swirling today that we could be facing a repeat of the US regional banking crisis of 2023.That episode led to the demise of US bank SVB and then Europe’s Credit Suisse.An initially positive risk mood turned during the US session yesterday after news that Zions Bancorp (-13.14%) made a $50m charge-off while Western Alliance (-10.81%) alleged it also suffered from fraud on loans to the same borrowers linked to distressed commercial mortgages.While this was an ostensibly isolated story at two banks each less than $10bn market cap, the event drew inevitable comparisons to the regional bank stress that followed the collapse of SVB in March 2023 and raised broader questions over potential credit quality issues after a lengthy period of elevated rates and expansion in private credit, following also the bankruptcy of subprime auto lender Tricolor last month. Continue reading...

Economics

1 week ago US treasury secretary accuses Beijing of trying to damage global economy; silver hits record high – business live

Rolling coverage of the latest economic and financial newsWhy has US-China trade war restarted and how have markets reacted?A flurry of takeover talk speculation has pushed up shares in budget airline EasyJet this morning.EasyJet’s shares are up over 7%, leading the risers on the FTSE 100 share index.“[The group] does not believe the redress methodology proposed by the FCA appropriately reflects actual customer loss or achieves a proportionate outcome.“...the FCA’s proposed approach to assessing unfairness does not align with the legal clarity provided by the supreme court judgement in respect of the “Johnson” case, which confirmed that the test for unfairness is highly fact specific and must take into account a broad range of factors. The group will continue to engage with the FCA in respect of these points.“Many motor finance lenders did not comply with the law or the rules. It’s time their customers get fair compensation. Recent court judgments show that liabilities exist no matt...

Events

3 w. ago UK’s FTSE 100 share index hits record high; US jobs market weakens as companies cut workers – business live

FTSE 100 hits record high as global stocks celebrate best September since 2013UK business confidence falls to record low amid rising employment costsOver in the eurozone, the manufacturing sector has slipped back into contraction.Data firm S&P Global reports that factory operating conditions across the euro area deteriorated in September, due to a reduction in new order inflows and a sharper rate of job shedding. Continue reading...

Economics

3 w. ago Business news live: UK economy grew 0.3% in second quarter but production in damaging decline

The Office for National Statistics (ONS) said there was zero growth in gross domestic product (GDP) month on month in July

Economics

3 w. ago Business news live: UK economy grew 0.3% in second quarter as slowdown confirmed

The Office for National Statistics (ONS) said there was zero growth in gross domestic product (GDP) month on month in July

Economics

3 w. ago JLR to resume some manufacturing in coming days after hack: GSK shares rise 3% after surprise CEO change – business live

JLR says “controlled, phased restart” of its operations continues, as GSK appoints a new boss to succeed Dame Emma Walmsley.GSK’s Emma Walmsley to be replaced as chief executiveInside the Jaguar Land Rover hack: stalled smart factories, outsourced cybersecurity and supply chain woesEmma Walmsley’s departure as CEO of GSK at the end of the year will be the “end of an era”, says Derren Nathan, head of equity research at Hargreaves Lansdown.Nathan explains:“The first ever female CEO of a major pharmaceutical company, Dame Emma Walmsley, is set to hand over GSK’s reins on New Year’s Day 2026. One of her key achievements was the demerger of Haleon, the company behind consumer health brands such as Beechams. That not just strengthened GSK’s balance sheet but also sharpened the group’s focus on speciality medicines and vaccines. There’s an exciting pipeline ahead and, this year alone, GSK’s on track for five major regulatory approvals. Her reign also saw a line drawn in the sand in the Zan...

Economics

4 w. ago UK fuel retailers accused of ‘ripping off’ motorists at the pumps; markets shrug off latest Trump tariffs – business live

Rolling coverage of the latest economic and financial newsTrump says US will impose new tariffs on heavy trucks, drugs and kitchen cabinetsAndy Burnham alarms investors with call to end UK dependence on foreign lendersDonald Trump’s overnight threat to impose 100% tariffs on pharmaceuticals from companies not based in the US has been met with fresh uncertainty across Europe.The Germans and the EU-wide trade body have expressed concern while Ireland and Brussels says it remains confident that the 15% tariff rate agreed in July will apply to European drugs exported to the US.“The EU and US already have a trade agreement in place; urgent discussions are needed on how to avoid any tariffs on medicines that harm patients in the EU and the US.”“I want to stress that the EU and US joint statement issued on August 21 made absolutely clear that any new tariffs announced by the US on pharmaceuticals would be capped at 15% for pharma products being exported by the EU.”“This remains the case an...

Economics

4 w. ago European markets largely shrug off Trump tariffs on pharmaceuticals, trucks and kitchen cabinets – business live

Rolling coverage of the latest economic and financial newsTrump says US will impose new tariffs on heavy trucks, drugs and kitchen cabinetsAndy Burnham alarms investors with call to end UK dependence on foreign lendersDonald Trump’s overnight threat to impose 100% tariffs on pharmaceuticals from companies not based in the US has been met with fresh uncertainty across Europe.The Germans and the EU-wide trade body have expressed concern while Ireland and Brussels says it remains confident that the 15% tariff rate agreed in July will apply to European drugs exported to the US.“The EU and US already have a trade agreement in place; urgent discussions are needed on how to avoid any tariffs on medicines that harm patients in the EU and the US.”“I want to stress that the EU and US joint statement issued on August 21 made absolutely clear that any new tariffs announced by the US on pharmaceuticals would be capped at 15% for pharma products being exported by the EU.”“This remains the case an...

Economics

4 w. ago Trump rattles investors with new tariffs on pharmaceuticals, trucks and kitchen cabinets – business live

Rolling coverage of the latest economic and financial newsTrump says US will impose new tariffs on heavy trucks, drugs and kitchen cabinetsAndy Burnham alarms investors with call to end UK dependence on foreign lendersShares in UK pharmaceuticals giant AstraZeneca have dropped by 1.4% at the start of trading in London.AstraZeneca are the biggest faller on the FTSE 100 share index.UK Pharma giant AstraZeneca could be better placed than some of its European rivals, due to promised extra investment in the US that has already been announced, and the President’s promise to treat the UK differently when it comes to pharma tariffs.Thus, the FTSE 100 could be a relative ‘safe haven’ in the middle of this latest tariff storm. Continue reading...

Economics