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An energy minister met with major suppliers to discuss a nearly £2.5bn government plan to help 2.4 million households manage record energy debts this winter.
UK house prices fell 0.6% in October, the steepest monthly decline in over three years, as elevated mortgage rates continue pressuring buyers amid economic uncertainty and geopolitical tensions.
California voters are deciding on Proposition 40, a proposed wealth tax targeting billionaires. Two prominent economists have released sharply conflicting analyses about whether it would raise revenue or harm the state economy.
The Bank of England raised its base rate to 4%, the first increase in over three years. Most mortgage holders on fixed rates are unaffected, but tracker and variable rate borrowers face immediate payment increases.
Developing countries’ debt reached a record $9.4 trillion last year, with the poorest nations facing interest rates at their highest since the late 1980s, according to World Bank data.
BT has eliminated nearly 8,000 jobs since March as part of a major cost-reduction initiative, bringing its workforce to 90,000 and boosting pre-tax profits by 12% to £1.1bn.
