Antoine Dupont ‘surprised’ at rule that deprives England of Jack Willis
US job creation slowed in January; UK can’t say ‘job done’ fighting inflation, say’s BoE’s Pill – as it happened
Newsflash: Job creation across the US has slowed at the start of Donald Trump’s second term, after a blistering finish to 2024.US non-farm payrolls rose by 143,000 in January, new data from the Bureau of Labor Statistics shows. That’s weaker than the 170,000 new jobs expected last month.It’s also a sharp slowdown on December, where the BLS has revised up its estimates and now says payrolls rose by 307,000, 51,000 more than its initial estimate of 256,000.The US unemployment rate edged down to 4
US economy shows steady job growth in January amid Biden-Trump transition
Hiring across the US economy moderated in January, but the labor market continued to grow at a steady pace during the transition period between Joe Biden and Donald Trump’s presidencies.New data from the labor department released on Friday showed 143,000 jobs added to the economy in January, short of the 168,000 expected by economists. The unemployment rate remained steady at a relatively low 4%, edging slightly downward from 4.1% in December.Job growth estimates for previous months were revised higher
UK house prices jump to new high as stamp duty rise looms, says Halifax
UK house prices bounced upwards in January to a record high as many buyers rushed to complete deals before a stamp duty increase this spring, according to one of the UK’s biggest mortgage lenders.The average property price rose by 0.7% in January to £299,138 after dropping 0.2% in December, Halifax said.Economists and industry analysts expect house prices to continue to rise during 2025, as supply remains constrained and demand stays relatively stable, despite concerns over the UK economy’s momentum from the Bank of England
Green campaigners fear UK to renew subsidies to Drax power station
Green campaigners fear ministers are poised to award billions of pounds in fresh subsidies to Drax power station, despite strong concerns that burning trees to produce electricity is bad for the environment.Drax burns wood to generate about 8% of the UK’s “green” power, and 4% of overall electricity. This is classed as “low-carbon” because the harvested trees are replaced by others that take up carbon from the atmosphere as they grow.But many studies have shown that wood burning harms the environment, by destroying forests, and because of the decades-long time lag between the immediate release of carbon dioxide CO2 from burning and the growth to maturity of replacement trees.Drax currently receives billions of pounds in subsidies from energy bill payers, at the rate of about £2m a day according to Greenpeace, but these are scheduled to run out in 2027
HSBC considering boosting new CEO’s pay package to £15m
The new chief executive of HSBC, Georges Elhedery, could scoop a maximum pay package worth more than £15m as part of a potential deal being put to its biggest shareholders.The bank’s remuneration committee is testing whether investors are receptive to an overhaul that would slash Elhedery’s salary but boost his potential bonus payouts and ultimately raise his maximum pay package by nearly 43%.The move, which is still being finalised and would have to be put to a shareholder vote at its annual meeting in May, has been triggered by the UK’s decision to scrap the EU bonus cap which was introduced to limit risk-taking in the wake of the 2008 financial crisis. The cap previously limited payouts to two times a banker’s salary.The proposals, first reported by Sky News, would take Elhedery’s total potential pay package up from around £10
‘Stagflation’ fears as Bank of England cuts growth forecast and warns of price rises
Rachel Reeves’s plans for growth suffered a double blow after the Bank of England halved its forecast for the year and warned households would face mounting pressure from rising prices.In a downbeat assessment as it cut interest rates for a third time in six months, Threadneedle Street warned people would face a fresh squeeze on living standards from rising inflation even as the economy stalled.Cutting rates by a quarter of a point to 4.5%, the central bank’s heightened concern was underscored by a steep downgrade in its 2025 growth forecasts. It now expects the economy to grow by just 0
Boris Johnson one of most damaging PMs in history, says Reform UK chair
Bridget Phillipson accused of having ‘Marxist ideological dislike of academies’ by Tory-linked headteacher – as it happened
Letter: John Prescott obituary
Peter Mandelson swears at reporter after question on Epstein relationship
Labour launches ads in Reform-style branding to boast about deportations
No room for reality as Yvette Cooper takes Nick Ferrari’s phone-in in her stride | John Crace