Public borrowing rises by £22.3bn in October – dwell updates  

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Public borrowing rises by £22.3bn in October – live updates  


Good morning. Now we have a double whammy of  financial information releases developing. In ten minutes, the ONS will launch the newest public sector borrowing figures in addition to the newest retail gross sales.

In the meantime the FTSE 100 is ready to open marginally increased in simply over an hour. 

5 issues to begin your day 

1) Hundreds of jobs in danger as Jaeger and Peacocks collapse:  Each chains are a part of Philip Day’s Edinburgh Woollen Mill retail group that has been beneath strain this yr following a slide in gross sales .

2) On-line financial institution Starling says it will likely be first to make a revenue: The fintech agency, based by Anne Boden in 2014, believes it will likely be within the black this month, because the sector is beneath strain to rein in losses.

3) Public sector pay freeze may save £23bn: Sunak may save the Treasury £23bn over the subsequent three years, say economists, by freezing pay for the 5.5m individuals on the general public pay roll.

4) £16bn defence spending should assist British business, corporations say: The Prime Minister has pledged to make use of the £16.5bn defence spending to create 40,000 jobs, stimulate development and help the UK’s nations.

5)  BuzzFeed buys HuffPost to affix in advert battle with Fb and Google: BuzzFeed and HuffPost’s advert income has been hit by tech giants like Fb and Google which diversified into income making providers.

What occurred in a single day 

World monetary markets stalled on Friday as information US Treasury was ending emergency loans programmes dealt a blow to financial restoration hopes simply as California introduced curfews to attempt to combat surging coronavirus infections.

In Asia, Japan’s Nikkei stumbled 0.5pc whereas Australian shares had been flat. Chinese language shares had been little modified whereas South Korea’s KOSPI index was a shade firmer.

That left MSCI’s broadest index of Asia-Pacific shares excluding Japan up 0.3pc. It’s up 1.5pc up to now this week.

Developing right this moment

Company: Worldwide Healthcare Belief (Interim outcomes); Sage (Full yr); Softcat (Buying and selling Statements)

Economics: Public sector internet borrowing, retail gross sales, GfK shopper confidence (UK); shopper confidence (eurozone) 

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