Pound recovers as ONS admits its recession forecast was wrong

Pound recovers as ONS admits its recession forecast was wrong

Ggood morning. The pound is recovering as its early rally on Friday erased all the losses it suffered since Kwasi Kwarteng opened his speech last Friday. It comes as the new government yesterday sought to calm markets after the mini-budget caused turmoil. Liz Truss and Chancellor Kwasi Kwarteng will meet the chair of the Office…

Unemployment is the lowest since 1974 amid an “alarming” rise in long-term illnesses

Unemployment is the lowest since 1974 amid an “alarming” rise in long-term illnesses

Ggood morning. Unemployment in the UK has fallen to its lowest level in almost 50 years as more Britons leave the workforce. The latest ONS figures showed 3.6 per cent of adults were out of work and looking for work in the three months to the end of July, down from 3.8 per cent in…

German inflation has reached its highest level in almost 50 years

German inflation has reached its highest level in almost 50 years

Ggood morning. We begin another escalation of the energy crisis as Putin cuts gas supplies to France. Gazprom has informed the French company Engie that it is limiting gas supplies from today due to a disagreement in the implementation of some contracts. The move puts further pressure on Europe’s already strained energy supplies. France has…

Sir Nick Clegg is leaving Silicon Valley for London in the Met’s latest move

Sir Nick Clegg is leaving Silicon Valley for London in the Met’s latest move

Ggood morning. Sir Nick Clegg is part-way moving to the UK, becoming the latest Met chief executive to leave Silicon Valley. The former deputy prime minister turned social media manager will split his time between homes in London and California, Financial Times. It comes after Instagram chief Adam Mosseri said he was moving to London,…

The Federal Reserve is raising interest rates sharply in an effort to beat inflation

The Federal Reserve is raising interest rates sharply in an effort to beat inflation

TThe Federal Reserve raised interest rates by 0.75 percentage point for a second straight month in the most aggressive tightening since the 1980s, putting pressure on the Bank of England to clamp down sharply on rising prices. The U.S. Federal Reserve has maintained a breakneck pace of interest rate hikes and vowed to raise borrowing…