Bbc news finance

Here are the latest news and updates from BBC News on finance:

Top Stories

  1. Global economy faces 'perfect storm': The International Monetary Fund (IMF) has warned that the global economy is facing a "perfect storm" of challenges, including rising inflation, supply chain disruptions, and the ongoing COVID-19 pandemic.
  2. UK economy grows at fastest pace in 11 years: The UK economy grew at its fastest pace in 11 years in the three months to July, according to official figures, as the country emerged from lockdown.
  3. FTSE 100 hits record high: The UK's leading stock market index, the FTSE 100, has hit a record high, driven by a surge in demand for shares in companies such as oil giant BP and pharmaceutical firm AstraZeneca.

Business News

  1. Amazon to create 10,000 new UK jobs: Online retail giant Amazon is to create 10,000 new jobs in the UK, as it expands its operations in the country.
  2. HSBC to cut 35,000 jobs globally: Banking giant HSBC is to cut 35,000 jobs globally as part of a major restructuring plan aimed at reducing costs and improving efficiency.
  3. EasyJet to cut 4,000 jobs: Low-cost airline EasyJet is to cut 4,000 jobs, or around 30% of its workforce, as it struggles to recover from the impact of the COVID-19 pandemic.

Market Updates

  1. FTSE 100: +0.5%: The UK's leading stock market index has risen by 0.5% to 7,144.50.
  2. Dow Jones: +0.2%: The US stock market index has risen by 0.2% to 34,511.50.
  3. Eurozone inflation: +2.2%: Inflation in the eurozone has risen to 2.2%, driven by higher prices for food and energy.

Personal Finance

  1. Savings rates to rise: The Bank of England has announced that savings rates are to rise, as it seeks to encourage people to save more and reduce their debt.
  2. Mortgage rates fall: Mortgage rates have fallen to their lowest level in over a year, making it cheaper for people to borrow money to buy or refinance a home.
  3. Pension pots to be increased: The government has announced that pension pots will be increased by 2.5% from April 2022, as part of a package of measures aimed at helping people save for retirement.