Among the companies with reports and trading updates today are Hays, Harbour Energy, Intertek and James Cropper. Read the Thursday 24 August Business Live blog below.
> If you are using our app or a third-party site click here to read Business Live
Among the companies with reports and trading updates today are Hays, Harbour Energy, Intertek and James Cropper. Read the Thursday 24 August Business Live blog below.
> If you are using our app or a third-party site click here to read Business Live
Former Bank of England governor Mervyn King claimed yesterday the time for rapid interest rate increases is over as shock economic figures raised fears that Britain is heading for recession.
The data showed private sector output shrank this month at the fastest pace since January 2021 when Britain was in lockdown.
Sterling and gilt yields tumbled yesterday as mounting fears of recession saw investors scale back bets on where interest rates will peak.
As central bankers headed to Jackson Hole in Wyoming in the US for their annual chinwag, a set of bleak reports showed private sector activity across Britain and the eurozone in sharp decline as inflation and rising borrowing costs take their toll.
The pound at 8am was $1.2704 compared to $1.2713 at the previous close.