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UK long-term borrowing costs at highest since 1998 amid fears over weak growth
Yield rises above peak reached when Liz Truss’s mini-budget in 2022 caused turmoil in markets The UK government’s long-term borrowing costs have reached the highest level since 1998 amid investor concerns over Britain’s sluggish growth prospects and stubbornly high inflation. The yield – in effect the interest rate – on UK 30-year government debt rose…
Mark Carney ‘considering’ run to replace Justin Trudeau as Canada PM
Supporters of former Bank of England and Bank of Canada governor say he has experience to lead in period of instability The former Bank of England governor Mark Carney, a climate-focused economist who became the first non-Briton to run the Bank, is considering entering the race to replace Justin Trudeau as Canada’s prime minister. Trudeau…
UK house prices dip for first time since March, says Halifax
Britain’s biggest mortgage lender says say affordability could hamper further rises in the months ahead UK house prices fell by 0.2% month on month in December – the first monthly drop since March – according to Britain’s biggest mortgage lender. Data released by Halifax, Britain’s biggest mortgage lender, also showed that the price of the…
Luxury tights brand Wolford apologises for delays to orders and refunds
Exclusive: Skinwear firm admits delivery services overstretched amid heavy criticism from customers Shoppers have taken to the reviews site Trustpilot to warn others against making orders, with some saying they had waited for more than a month for their goods to arrive and had been unable to obtain a refund. Almost 90% of the 460…
UK retailers may have to cut thousands of jobs after bleak Christmas
British Retail Consortium figures show sales growth close to flatlining, as card spending fails to rise Britain’s largest retailers are warning they could be forced to cut thousands of jobs this year as the industry braces for higher taxes and employment costs after a bleak Christmas shopping season. In the latest sign of tough trading…
Meta taps Trump ally and UFC CEO Dana White to join its board
Shannon Bond Dana White, the Ultimate Fighting Championship president and supporter of President-elect Donald Trump, is joining the board of Facebook and Instagram parent company Meta. White’s election as a Meta director two weeks before Trump takes office comes as Silicon Valley is courting the incoming administration, following what has been a frosty relationship with…
China’s yuan hits 16-month low amid fears over Trump tariffs
CSI 300 blue-chip stock index also trades weakly, hitting its lowest point since September China’s currency hit a 16-month low on Monday, despite efforts by the central bank and stock exchanges to soothe investor worries about impending US tariffs under a Donald Trump presidency. The tightly controlled yuan reached 7.3301 per US dollar, its weakest…
U.S. Steel sues to salvage its sale to Japan’s Nippon Steel
Scott Horsley U.S. Steel and its would-be Japanese suitor Nippon Steel have gone to court to defend their $15 billion merger, after President Biden on Friday moved to block the deal, citing national security concerns. In a lawsuit filed Monday in federal court in Washington, the companies accuse the president of violating their due process…
Anas Sarwar accuses Scottish government of ‘weakening every institution’
Scottish Labour leader sets out plan to revive party’s flagging fortunes before Holyrood elections Anas Sarwar has accused the Scottish government of “weakening every institution in Scotland” as he set out plans to revive Labour’s flagging fortunes before the Holyrood elections. The Scottish Labour leader said he would spend much of 2025 reminding the Scottish…