FTSE 100 Live: Next tumbles amid warning on economy, Bank of England interest rate decision
Good morning from the City AM liveblog team.
It was a day of harcore pomp and ceremony for Britain yesterday, as Donald Trump kicked off his state visit to the UK in earnest with a trip to Windsor Castle, where he met the King and feasted on the Royal Household’s finest cuisine — no hamburgers in sight.
It was also a moment to announce oodles of cross-Atlantic investment between Britain and America’s biggest firms.
The UK government said it has secured a historic £150bn of inward investment from US companies, in deals which will create more than 7,600 high-quality jobs.
That includes a bumper £90bn new investment pledge from Blackstone which is in addition to the £10bn of previously announced for datacentre development in the UK.
Here’s a summary of our other top stories from yesterday:
- Reeves considering ‘staggered stamp duty payments’ to boost housing market
- Inflation: Brits ‘paying the price for years of poor economic management’
- Exclusive: Nvidia boss tells China ‘We won’t operate where we’re not wanted’
- Ben & Jerry’s co-founder quits after being ‘silenced’ by Unilever
- PwC UK profits edge up as headcount reductions take effect
- Temu: UK sales and profit double as Shein court battle looms
Overnight the US Federal Reserve cut interest rates by a quarter point, a move likely to give Donald Trump – who’d long called for a cut – a spring in his step.
This morning we’ll be bringing you the latest market news including results from retail giant Next and pizza maker Domino’s. Then at noon we’ll get the latest on the Bank of England’s own interest rate decision.
.
