• Fed defies Trump by indicating it will push ahead with rate rises - as it happened

    US central bank discussed raising borrowing costs to ‘modestly restrictive’ levels, minutes of last month’s meeting showLatest: Fed minutes show further rate hikes are expectedThe Key Text: Officials discussed raising rates to ‘restrictive’ levelsFed worries about trade wars and tax cuts 9.15pm BST And finally, the New York stock exchange had finished in the red.The Dow shed 90 points, or 0.36%, taking a bite out of yesterday’s 547-point rally. The S&P 500
  • UK house prices rise at their lowest annual rate in five years, ONS says

    Average UK prices rise 3.2% but sluggish London property market sees fall of 0.2%UK house prices grew at the slowest rate in five years in August, in the latest figures to identify a growing divergence between a sluggish London property market and faster rates of growth other regions.The average price of a UK home increased by 3.2% in the year to August, to £232,797, in the lowest annual rate of growth since August 2013, according to the figures from the Office for National Statistics (ONS
  • Cheaper chocolate and meat drive down UK inflation in September

    ONS says consumer price index fell to 2.4% last month from 2.7% in AugustUK inflation dropped further than expected last month as the falling price of meat and chocolate helped reduce some of the pressure on cash-strapped British consumers.The Office for National Statistics (ONS) said the consumer price index (CPI) fell to 2.4% in September from 2.7% the previous month, confounding City analysts’ forecasts for a more modest reduction to 2.6%. Continue reading...
  • If you’ve been sent bank details by email, be warned

    There’s only one protection from ‘push-payment’ fraud … vigilanceBoth of these letters are depressingly similar and should be a warning to everyone who banks online.I transferred £20,000 into our pension plan, but the money never arrived. I had asked my financial adviser at Brewin Dolphin for the relevant bank details and he sent them by email. It seems it was intercepted and the bank details changed so the transfer went into someone else’s account. Continue
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  • Britain fell for a neoliberal con trick – even the IMF says so | Aditya Chakrabortty

    The fund reports that Britain’s finances are weaker than all other nations except Portugal, and says privatisation is to blameColumnists usually proffer answers, but today I want to ask a question, a big one. What price is paid when a promise is broken? Because for much of my life, and probably yours, the political class has made this pledge: that the best way to run an economy is to hack back the public realm as far as possible and let the private sector run free. That way, services opera

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