13 h. ago French companies’ borrowing costs fall below government’s as debt fears intensify

Lower yields for groups including L’Oréal, Airbus and Axa upend typical order and signal Paris’s loss of ‘risk-free’ status

Politics

5 d. ago The Guardian view on political chaos in France: time for Emmanuel Macron to face reality and compromise with the left | Editorial

The French president has seen four prime ministers come and go in three years. The rancorous stasis of his second term is a gift to Marine Le PenIn the lead-up to the vote that ejected him from office this week after a mere nine months, the centre-right French prime minister, François Bayrou, appeared stoically reconciled to his fate. “There are worse disasters in life than the fall of a government,” Mr Bayrou observed on national radio, implicitly acknowledging his failure to win backing for a swingeing austerity strategy. On Monday, MPs duly used a debate called by the prime minister himself to oust him.And so another one bites the dust. The entrance to Matignon, France’s baroque prime ministerial residence, has become a revolving door during Emmanuel Macron’s benighted second term. Lacking a majority in a divided and deadlocked parliament, the president has gone through four premiers in a little over three years. Following the departure of the latest, he announced ...

Politics

5 d. ago France joins Eurozone’s ‘periphery’ as turmoil deepens, say investors

French borrowing costs have climbed above those of Greece and close to Italy’s

Economics

5 d. ago Political turmoil pushes France into Eurozone’s ‘periphery’, say investors

French borrowing costs have climbed above those of Greece and close to Italy’s

Politics

6 d. ago French PM François Bayrou expected to be ousted in confidence vote

Opposition parties planning to remove centrist and bring down minority government after just nine monthsThe French prime minister, François Bayrou, is expected to be ousted in a confidence vote on Monday afternoon, plunging the eurozone’s second biggest economy into political crisis.Opposition parties from the left to the far right have made clear they will vote against the 74-year-old centrist, meaning he and his minority government would fall after only nine months in office. Continue reading...

Politics

9 d. ago Nigel Farage tells his party to prepare for a 2027 General Election as he warns economic woes will force Keir Starmer's hand

In an exclusive interview with the Daily Mail ahead of the conference, the former City trader highlighted the rising borrowing costs being forced on Labour by sceptical financial markets.

Events

1 week ago US hiring slows as jobs market loses momentum; UK construction in longest slump since 2020 – business live

Construction activity in longest continuous slump in five years, as UK long-term borrowing costs dips backOuch! Britain’s construction sector is suffering its longest continuous downturn since the early days of the Covid-19 pandemic.Construction output slumped again in August, according to the latest poll of purchasing managers from data provider S&P Global.Business activity falls for eighth month in a row, but at slower pace than in JulySolid reductions in new work and employmentOptimism drops to its lowest since December 2022“Construction activity has decreased throughout the year-to-date, which is the longest continuous downturn since early-2020. August data signalled only a partial easing in the speed of decline after output fell at the fastest pace for over five years in July.Sharply reduced levels of housing and civil engineering activity were again the main reasons for a weak overall construction sector performance. Commercial work showed some resilience in August, with t...

Society

1 week ago UK construction in longest downturn since early 2020; global bond sell

Construction activity in longest continuous slump in five years, as UK long-term borrowing costs dips backOuch! Britain’s construction sector is suffering its longest continuous downturn since the early days of the Covid-19 pandemic.Construction output slumped again in August, according to the latest poll of purchasing managers from data provider S&P Global.Business activity falls for eighth month in a row, but at slower pace than in JulySolid reductions in new work and employmentOptimism drops to its lowest since December 2022“Construction activity has decreased throughout the year-to-date, which is the longest continuous downturn since early-2020. August data signalled only a partial easing in the speed of decline after output fell at the fastest pace for over five years in July.Sharply reduced levels of housing and civil engineering activity were again the main reasons for a weak overall construction sector performance. Commercial work showed some resilience in August, with t...

Politics

1 week ago Rachel Reeves scrambles to play down claims she's facing a £50bn 'black hole' in the public finances as under

The Chancellor also sought to dampen speculation she is poised to announce a fresh package of tax rises on British businesses and households.

Economics

1 week ago Starmer ‘too arrogant’ to admit he’s got things wrong, Badenoch tells Commons

The Conservative leader pressed the Prime Minister on borrowing costs, unemployment, and future tax rises, at PMQs.

Politics

1 week ago UK services growth for August hits fastest pace in over a year

Stronger demand and lower borrowing costs helped drive improvement

Events

1 week ago I haven't broken the economy, insists Reeves in desperate video plea amid bond market meltdown and fears of tax hike 'doom loop'... as she reveals Budget won't happen until November 26

Rachel Reeves attempted to calm markets by stressing her fiscal rules after interest rates on UK gilts crept up again this morning - having spiked to 27-year highs yesterday.

Economics

1 week ago Rachel Reeves opts for late Budget as she admits Britain’s economy ‘not working’

Rachel Reeves has come under pressure after soaring borrowing costs reach 27-year highs

Economics

1 week ago Reeves set to announce Budget date today as UK borrowing costs soar: Politics live

Rachel Reeves is expected to announce the date for the upcoming budget on Wednesday

Politics

1 week ago Britain on the brink? Reeves faces threat of financial crisis as markets send UK borrowing costs rocketing AGAIN

Ministers are struggling to cool alarm after interest rates on UK gilts rose again this morning, having spiked to 27-year highs yesterday.

Economics

1 week ago No 10 insists Reeves’s authority not dented by reshuffle after market jitters

Downing Street underscored ministers’ continuing commitment to fiscal rules as government borrowing costs surge

Culture

1 week ago Starmer's unhappy birthday: Labour government's popularity crashes to new record low as markets ramp up borrowing costs after desperate reshuffle 'sidelining' Reeves

YouGov found Labour's approval rating has slumped to minus 59 - with 70 per cent satisfied with their performance and 11 per cent dissatisfied.

Events

1 week ago No 10 insists Reeves’ authority not dented by reshuffle after market jitters

Downing Street underscored ministers’ continuing commitment to fiscal rules as government borrowing costs surge

Culture

1 week ago Reeves’ authority not dented by reshuffle, No 10 says in bid to calm markets

Downing Street underscored ministers’ continuing commitment to fiscal rules as government borrowing costs surge.

Culture

1 week ago Pressure rises on Reeves as government borrowing costs hit 27

Chancellor will face more limited fiscal headroom at budget after yield on 30-year bond increases to 5.68%Business live – latest updatesReshuffle gymnastics prepare Starmer to walk tricky budget tightropeBritain’s long-term borrowing costs have hit their highest level in 27 years, intensifying the pressure on the chancellor, Rachel Reeves, before the autumn budget.The yield, or interest rate, on 30-year UK government debt hit 5.714% on Tuesday. That is its highest level since 1998, indicating that it will cost the UK more to borrow from the markets, above the previous 27-year high of 5.649% set in April. Continue reading...

Events