UK inflation unexpectedly dips to 2.5% in December; German economy shrinks for second year – business live

Government bond yields are easing across the UK, eurozone and United States, ahead of US inflation data, out at lunchtime.Traders in the UK breathed a sigh of relief as inflation here unexpectedly dipped to 2.5%, giving the Bank of England room to cut interest rates next month.The yield (or interest rate) on the 30-year gilt, as UK government bonds are known, has fallen by nearly 5 basis points to 5.399% – after soaring to to 5

Currys says national insurance change has caused period of ‘depressed hiring’

Currys has announced it is to bring in more automation and that it is entering a period of “depressed hiring” after changes to employers’ national insurance, though it said the consumer environment “perked up” over the festive period with shoppers snapping up coffee machines and AI-enabled laptops.The electrical goods retailer said it would pay dividends to shareholders for the first time in two years after underlying sales rose 2% in the UK and Ireland and 1% in its Nordic stores. Both arms have not grown at the same time since 2021.Shares in the company soared more than 9% to almost 90p on Wednesday as Alex Baldock, the Currys chief executive, said the company had performed well in a tough technology market and expected to achieve profits of up to £155m in the year to the end of April – £5m to £15m more than previously forecast.“Our market was slightly down in the year to date but it perked up a bit during the peak [Christmas period],” he said

Meta to fire thousands of staff as Zuckerberg warns of ‘intense year’

Meta, the owner of Facebook, WhatsApp and Instagram, is to cut about 5% of its global workforce, with its poorest-performing employees most likely to leave.In a memo to staff, the chief executive, Mark Zuckerberg, said he had decided to “move out low-performers faster”, ahead of what he said would be an “intense year”, and would be accelerating the company’s usual performance management system.Meta employed 72,000 people globally at the end of September, according to its latest financial report, meaning that 3,600 workers could be affected by the planned cuts. The company plans to hire new people to fill the roles later in the year.The announcement came just days after Meta said it would get rid of third-party factcheckers and would prioritise free speech as Donald Trump prepares to return to the White House

US sues Elon Musk for allegedly failing to disclose early Twitter stock purchase

A US financial regulator has sued Elon Musk for allegedly failing to disclose his ownership of Twitter stock and later acquiring shares in the company at “artificially low prices”, stiffing other shareholders.The Securities and Exchange Commission (SEC) filed suit against Musk late on Tuesday in federal court in Washington DC for alleged securities violations. According to the suit, Musk did not disclose that he had acquired a 5% stake in the company in a timely manner, which allowed him “to underpay by at least $150m for shares he purchased after his financial beneficial ownership report was due”.Musk bought Twitter in 2022 for $44bn and later renamed it X. Before the purchase, Musk bought the 5% stake in the company, which typically requires a public disclosure

Australian Open 2025: Draper v Kokkinakis, Mensik beats Ruud, Gauff through – live

…and goodness me how close Kokkinakis comes to seizing it, Draper looking to have the point won with a violent forehand, the sliced cross-court riposte passing him and dropping just over the sideline.Draper makes 30-all but suddenly looks tired, and a vicious backhand on to the sideline means he faces break point at 1-2 5-5 30-40…So it’s now 5-5 in the fourth, and I’m minded of a chat I had with Coach Calv some years ago in which he alerted me to Draper’s progress, saying that mentally, he is immense. However he’s now down 15-30; he won’t, will he?Draper cups an ear at the crowd because he’s broken to love! He did this to Kokkinakis in the Davis Cup and he’s done it again!A phenomenal win for the Scot, who meets Martinez or Zverev next. He’s whacking it so hard and cleanly and is developing into a very serious player.A backhand winner and Draper has 0-40! Pressure!Now then! Draper hits a backhand, Kokkinakis comes in, and again makes a mess of a volley! 0-30 while, on 6, Fearnley has two match points!Zverev has broken Martinez to lead 6-1 6-4 2-1; Cazaux holds to make Fearnley serve for the match at 5-3 in the fourth; and Paul levels his match with Nishikori at a set apiece, courtesy of a bagel

McIlroy fears Tom McKibbin signing up to LIV ‘will not be worth the sacrifice’

Rory McIlroy has expressed disappointment over the imminent move to LIV Golf of Tom McKibbin, his fellow Northern Irishman and player he has mentored. “I don’t think it’s worth the sacrifice,” said McIlroy of the 22-year-old’s upcoming switch.McIlroy has been close to McKibbin since the latter burst on to the scene as an exciting child talent. Last November, McKibbin’s rise continued with the securing of a PGA Tour card for 2025. However, it appears McKibbin will not take up that membership; having been targeted by Jon Rahm’s LIV team, he is set to move to the Saudi Arabian-backed circuit for a reported $5m plus further annual guarantees