BBC, By Natalie Sherman Business reporter, New York The US has hit its debt limit, with the Treasury Department now taking measures to prevent a potentially devastating default. Reaching the debt ceiling means the government is not allowed to borrow any more money – unless Congress agrees to suspend or change the cap, which currently …
What happens now the US has hit the debt ceiling? Read More »
By Michael Race Business reporter, BBC News Sir James Dyson has accused the government of having a “stupid” and “short-sighted” approach to the economy and business in the UK. He said growth had “become a dirty word” during Rishi Sunak’s premiership. Writing in the Daily Telegraph, the Dyson founder urged the government to “incentivise private innovation …
By Michael Race Business reporter, BBC News Wages have grown at the fastest rate in more than 20 years, but are still failing to keep up with rising prices. Average pay, including and excluding bonuses, rose by 6.4% between September and November compared with the same period in 2021, official figures show. It is the fastest …
Pay rises at fastest pace for over 20 years, but below inflation Read More »
By Michael Race Business reporter, BBC News Price rises in the UK slowed for a second month in a row but the cost of food including milk, cheese and eggs kept inflation at a 40-year high. Inflation, which measures the rate of price rises, fell to 10.5% in the year to December from 10.7% in …
UK inflation drops but food keeps inflation high Read More »
Inflation is likely to fall rapidly this year as energy prices fall, Bank of England Governor Andrew Bailey has said. Speaking to Media Wales, Mr Bailey said a recent easing of inflation could be a sign that “a corner has been turned”. The Bank was not trying to change market expectations that interest rates will …
Bailey: Inflation ‘likely to fall rapidly’ this year Read More »