More than 2.3m households face jump in payments in 2027, after expected increase in Bank of England rate this week More than 2.3m UK households face a sharp rise in mortgage payments as they come off fixed-rate deals in 2027, with the Bank of England expected to begin raising interest rates this week. The Bank’s nine-member monetary policy committee (MPC) is widely expected to increase the base rate from 3.75% to 4% on 5 November after UK inflation rose further to 3.5% in September. Continue reading...
Millions in UK brace to remortgage on worse deals as rate rise looms
Source: The Guardian
Original reporting
The Guardian: read the full reportRelated stories
CNBC
Apollo launches $11 billion private credit platform, backed by Abu Dhabi
Apollo has launched a 10 billion euro European private credit platform backed by major global investors.
The Guardian
Crypto ‘scammers on overdrive’ as Binance customers pull billions from accounts after $6.3bn hack – business live
Rolling coverage of the latest economic and financial news Elsewhere this morning: oil prices have retreated after reports that US president Donald Trump wants to give diplomacy with Iran more time before possibly restarting strikes after the midterm election result. Brent crude, the international benchmark for oil prices, is down 2.6% to about $110 a barrel. Continue reading...
CNBC
Ryanair CEO warns fares could rise by up to 20% in 2027 as fuel bill jumps by $2.2 billion
Ryanair's CEO Michael O'Leary told CNBC that European airlines may have "significantly higher airfares" of up to 20% next year as fuel costs rise.
The Guardian
Nine big oil firms on track to share more than $95bn profit two quarters in a row
Windfall for oil corporations such Saudi Aramco and BP comes on back of soaring fuel prices driven by Iran war The world’s biggest oil companies are on track to amass profits of more than $95bn (£71bn) in the third quarter as the war in the Middle East drives up the price of fossil fuels. The windfall war profits have sparked calls for oil corporations such as Saudi Aramco and BP to pay for environmental damage and help the world transition towards renewable energy. Continue reading...
CNBC
AI is coming to construction sites. But does it make workers safer?
AI is flagging hazards on construction sites, but researchers say evidence that the technology prevents injuries remains limited.
CNBC
South Korea targets 'world's highest performance' sovereign AI model in record new budget
The 2027 budget will rise 12.8% to 820.9 trillion won, and will include a 21.3 trillion won investment into semiconductors, physical AI and AI data centers.