Trade, City of London, sterling and EU markets
Chancellor John Healey has rejected calls from Labour MPs to raise Capital Gains Tax in next week’s Budget, Treasury sources say. The move follows warnings that a rise could cost money if wealthy people leave the UK.
A £24m meat processing plant near Ecclefechan has locals worried about traffic, smells and the loss of their quiet life. But the company insists the site will bring jobs and support Scottish farmers.
New NFU analysis shows UK food and drink exports to the EU have fallen by more than a third since Brexit, with sugar down 70% and poultry down 53%. Andy Burnham warns that a single missing stamp can destroy entire truckloads of produce.
France has dropped its opposition to including the UK in the EU’s ‘Made in Europe’ legislation, but only if Britain aligns with the bloc’s tariffs on Chinese electric vehicles.
Almost one in three Britons plan to spend less on foreign holidays next year as the cost of living squeeze bites, according to Abta. The travel industry warns that demand may have peaked after a rebound to pre-pandemic levels.
Robert Hall and Michael Woodford win the 2026 Nobel economics prize for models that help central banks and finance ministries stabilise economies. Their New Keynesian framework is now the main tool for policymakers worldwide.
Christian Bittar, a former Deutsche Bank trader, has had his conviction for rigging interest rates quashed. The Court of Appeal also acquitted five former Barclays traders.
The Chinese-founded fast-fashion retailer’s UK sales jumped 26% to £2.58bn, pushing it past British rival Asos. Pre-tax profits rose 18% to £45.2m, helped by music festival tie-ups and pop-up shops.
JLR has unveiled the all-electric Type 01 in New York, the first new Jaguar since its polarising rebrand. Reactions to the radical Grand Tourer are sharply divided.
Betting firms claim a duty hike on slot machines would close shops and cut jobs. A Paddy Power co-founder dismisses those warnings as scaremongering.
