Weaker UK economic outlook weighs on housing market; Pret hikes worker salaries – business live

Rolling coverage of the latest economic and financial news, as Taylor Wimpey says weaker economic backdrop is hitting the near-term outlook

• Bank of England boss signals interest rates may have peaked

Taylor Wimpey expects to complete fewer homes this year than in 2022.

It blames the “prevailing market conditions” and “challenging planning backdrop”.

Continue reading…