Writing the summary…
UK households have paid extra £13,961 on bills since 2021 amid soaring inflation, TUC says
Source: The Guardian
Original reporting
The Guardian: read the full reportRelated stories
CNBC
SK Hynix shares plunge 10% amid Asia tech rout as Fed rate hike fears, AI funding worries mount
A sell-off in global technology hardware stocks deepened Thursday.
BBC Business2 outlets
UK economy grew 0.1% in August ahead of Healey's first Budget
The U.K. is grappling with a cost-of-living crisis sparked by sticky inflation and surging energy costs.
CNBC2 outlets
UK economy grew 0.1% in August, beating expectations
The U.K. is grappling with a cost-of-living crisis sparked by sticky inflation and surging energy costs.
CNBC
Inside India newsletter: Billionaire Ambani’s mega-IPO faces a valuation reality check amid Musk spat
Jio Platforms, the company at the center of Musk’s remarks, is launching an IPO later this month.
The Guardian
Tech stock sell-off intensifies as markets fret about AI; UK growth beats forecasts in August – business live
Rolling coverage of the latest economic and financial news Emeritus professor Joe Nellis , head of economic research at accountancy and advisory firm MHA , points out that the underlying pace of growth in the UK economy remains weak. Responding to this morning’s UK GDP report , he says: The loss of momentum in August reflects the impact of continued inflationary pressures that have negatively impacted consumer confidence and spending. Businesses also continue to face tough trading conditions resulting from rising employment costs and taxation which have squeezed profitability, particularly among small and medium-sized enterprises, discouraging investment spending and recruitment activity. Continue reading...
CNBC
India’s IDBI Bank falls 7% as government announces $5.5 billion stake sale to Canada's Fairfax
The Indian government has been divesting its stake in several state-owned companies this year as it tries to keep its growth engine running amid deepening fiscal pressures.