Stock markets have retreated again over worries of further US interest rate rises after the Federal Reserve defied Donald Trump to increase rates for the fourth time this year.

The EU has confirmed it is “actively investigating” a potential breach of its diplomatic communications network, following reports that secret cables had been stolen by hackers.

The Bank of England has welcomed a “crucial and positive” move by the EU to help keep a key part of the financial system functioning in the event of a “no-deal” Brexit.

A handful of banks will be forced to write multimillion pound cheques to buy shares in the construction giant Kier Group after some of its biggest investors snubbed the chance to take part in a £250m fundraising.

GlaxoSmithKline (GSK) is to merge its consumer healthcare unit with that of rival Pfizer, to create a new market leader with almost £10bn in annual sales.

 

Santander has been fined more than £30m for “serious failings” in processing the accounts of dead customers, the Financial Conduct Authority (FCA) says.

REAL ESTATE TOP STORIES

UK household finance index remains near its record highs

The country’s households’ perceptions of financial wellbeing remained close to survey-high in the month of September

This was demonstrated by data from HIS Markit on Monday.

The household finance index held steady at 45.9 in September, which was the second highest score since the survey originally began in February 2009.Household finances were underpinned by improved earnings from employment and favorable labour market conditions.

UK households’ future outlook regarding budgets in September remained strong. Moreover, income from employment also increased in September. However, Job security perceptions deteriorated, in contrast to the generally upbeat signal that came from the current and future household finance assessments.

Expectations of further inflation were sustained in September– the proportion of households anticipating rising living costs was the lowest since November 2016, showed the data.

“The HFI survey pointed to the second-lowest level of pessimism about future finances since the EU referendum,” Joe Hayes, an economist at IHS Markit, said.

All things considered, the latest survey still raised some concerns about the outlook for consumer spending, Hayes added.

-GBO Correspondent.

Leave a Comment