Economy

UK urged to strengthen financial muscle of national wealth fund to aid economy

Unions, thinktanks and others say overhaul could provide investment Britain needs Unions, thinktanks, environmental groups and charities have come together to call on ministers to boost the financial firepower of the national wealth fund to empower it to inves

The Guardian5h ago

UK minister warns of impact of Trump’s Iran war on next month’s budget

Bridget Phillipson says Burnham’s past criticisms of US president not an issue as PM prepares to meet Trump at UN Next month’s budget will be made more difficult by Donald Trump’s war with Iran, one of Andy Burnham’s cabinet ministers has said, while adding sh

The Guardian14h ago

Billionaire Man United owner loses moral high ground after tax exile, Labour chair says

The billionaire businessman told the BBC he has lost confidence in the UK due to a combination of high taxes and high immigration.

BBC News22h ago

Are global stock markets heading for a crash?

Economies thrown into renewed turmoil as AI debt, Iran war and soaring government bond yields fuel alarm At the height of the summer, the mood was optimistic in the world’s financial capitals. Powered by the AI revolution , the US stock market had rallied to a

The Guardian1d ago

Software defect blamed for UK air traffic control chaos; FTSE 100’s worst day since July; Volkswagen cuts outlook – as it happened

Rolling coverage of the latest economic and financial news UK airport disruption: what are your rights if you have been affected? Britons are increasingly worried about the climate emergency, and job security. New data from the Office for National Statistics s

Retail sales bounce back in Great Britain amid brighter signs for economy

Latest data to defy economic gloom shows 0.5% rise boosted by purchases of sports items, aircon units and fans during heatwaves Business live – latest updates Retail sales across Great Britain unexpectedly rose last month, the latest economic indicator to defy

US wheat farmers navigate uncertainty amid drought and geopolitical chaos

Some experts worry factors affecting wheat exports could push global food prices even higher than they are now Wheat prices are at their highest level in three years, which means farmer Merrill Nielsen should be getting more for his crops out of his 2,500-acre

Tracking lost bank accounts

Iona Bain explains how you can track down lost bank accounts

BBC News3d ago

Japan raises interest rates to 31-year high to curb impact of rising prices

Increase from 1% to 1.25% follows US Federal Reserve and European Central Bank tightening monetary policy Business live – latest updates Japan’s central bank has increased interest rates to a fresh 31-year high as it attempts to combat global inflation linked

Global leaders urged to join initiative to fight extreme inequality

More than 1,500 academics and economists sign letter, calling growing gap between richest and poorest ‘a policy choice that can be reversed’ More than 1,500 academics and economists from 100-plus countries are urging global leaders to join an initiative agains

‘I feel invisible’: over-50s reveal harsh realities of trying to get a job

Candidates describe feelings of rejection after submitting hundreds of applications but getting a handful of interviews Hundreds of job applications, exhausting searches and relentless rejection – the experience of attempting to get back into the workforce aft

All smiles in Strasbourg but uncertainty clouds Canada’s EU membership plan

Although Mark Carney welcomed offer to become bloc’s first associate member, no one seems to know what that means Europe live – latest updates Mark Carney received a rapturous reception in the European parliament when he gave his speech on Thursday welcoming a

Khan addresses Polanski in Urdu at London assembly, mocking Green leader’s byelection video – as it happened

This blog is now closed Andrew Griffith has delivered his speech, and he is now taking questions. Q: You want the government to pause the making tax digital programme . Is that an admission that the last government got this wrong when it introduced it? It is a

The Bank of England is shaking up its bond sales – why does it matter?

What the plan to sell £146bn in gilts back to the Treasury means for the public finances Bank of England holds interest rates Burnham’s talk of ‘breathing space’ at odds with reality of future rate rises Mixed in with the Bank of England’s decision on Thursday

UK government borrowing costs fall as Bank of England outlines new bond-selling plan – as it happened

BoE lays out proposal to sell UK bonds back to the government, and wind up the asset purchase scheme launched after the GFC Bank of England urged to slow or halt bond-selling to slash UK borrowing costs The Guardian view on the Bank of England’s £120bn bill: p

Money in people’s pockets is the key to economic recovery | Letter

David Redshaw responds to a letter on the bond markets and economic pressures afflicting the UK Neil Kinnock’s timely letter ( 9 September ) reminds us that we are not alone in suffering high gilt yields and borrowing costs. We are still feeling the fallout fr

Interest rates held but Bank signals rise if energy prices stay high

Rates are held for the sixth time in a row but the Bank of England says high energy prices make a future rise more likely.

Burnham’s talk of ‘breathing space’ at odds with reality of future Bank rate rises

PM’s push to cut cost of living threatened by rising inflation and government borrowing costs as geopolitics hit home Bank of England holds interest rates The Bank is shaking up its bond sales – why does it matter? Business live – latest updates Good luck to A

Bank of England holds interest rates at 3.75% but warns war could force future rises

Central bank announces surprise plan to sell billions of pounds in government bonds back to the Treasury Burnham’s talk of ‘breathing space’ at odds with reality of future rate rises The Bank is shaking up its bond sales – why does it matter? Business live – l

What's happening to UK interest rates and what does it mean for mortgages?

The interest rate set by the Bank of England affects mortgage, loan and savings rates for millions.

Why Trump's hand-picked Fed chair defied him by raising interest rates

The 0.25% increase comes despite fierce opposition from the US president, who has called for rates to be cut.

IMF urges Australian government to cut spending as another interest rate hike looms

Warning comes as forecast for nation’s economic growth downgraded amid concerns over rising debt and inflation Follow our Australia news live blog for latest updates Get our breaking news email , free app or daily news podcast The International Monetary Fund h

Watch: How will higher interest rates impact US consumers?

The BBC's Samira Hussain looks at the factors considered in the increase by the Federal Reserve and what it could mean for the US economy.

Burnham warns of ‘difficult decisions’ in budget as inflation rises to 3.1%

PM rejects claim he leads a ‘tax-and-spend’ government, as Bank of England prepares for interest rates decision Andy Burnham has said “difficult decisions” will need to be taken in next month’s budget after a rise in energy prices triggered by the Iran war dro

The Guardian5d ago

Henry Zeffman: Andy Burnham and his chancellor have a battle on their hands as the Budget approaches

The Budget is only six weeks away and the economy is undoubtedly the biggest challenge facing the prime minister.

Petrol and diesel price rises push UK inflation higher

Summer holidays and disruption to global oil supplies by the Middle East conflict stoked price growth.

UK rents accelerate as London house prices fall, and inflation rises to 3.1% – as it happened

Soaring motor fuel costs have pushed UK inflation to a five-month high in August Full story: UK inflation rises to 3.1% as motor fuel prices jump by almost a quarter Worryingly, the cost of goods produced by UK factories rose at a faster rate in August too. Pr

The Guardian5d ago

What is happening to UK prices?

UK inflation rose in August, pushed up by higher petrol and diesel prices.

The Global Story

Who are the Iran-backed group threatening to seize control of a vital oil-shipping route?

How rising bond yields impact American consumers

The BBC’s Samira Hussain explains why some could see increased interest rates for mortgages and business loans.

US prices remain high as fuel costs squeeze household budgets

Prices in the US rose 3.4% in the 12 months to August, according to the latest official report on inflation.

Interest rates could rise again across the world – here's why

As countries grapple with energy costs pushing up inflation, this month will see how central banks respond.

AI boom helps drive surprise UK growth in July

The economy expanded by 0.4%, official figures show, whereas analysts had predicted no growth.

What's happening to the UK economy and how does it affect you?

The rate of UK economic growth affects things like pay increases and the amount of tax raised.