Thanks for joining me. Today, we’ll be discussing the triple lock and the latest employment figures from the Office for National Statistics that shed light on it.
In April next year, the state pension is projected to increase by 8.5% in accordance with the growth in average earnings over the three months leading to July.
5 intriguing updates for your day
1) Jeremy Hunt casts doubt on November Budget tax cuts | The Chancellor downplays the possibility of tax cuts in the upcoming Autumn Statement.
2) Bank rate-setter emphasizes the need for further interest rate hikes to combat inflation | Recent comments follow the Bank of England Governor’s statement that rates were nearing their peak.
3) Mini revives the UK’s electric car industry – despite challenges ahead | Investment demonstrates confidence in UK manufacturing amidst potential tariffs.
4) City predicts Tesla’s valuation could rise by $480bn with AI supercomputer | Shares surge as ‘Dojo’ driverless system aims to significantly increase car value.
5) Wizz Air halts flights for engine inspections over Christmas season | The airline warns of reduced service during the holidays while engines undergo checks.
Overnight developments
US stocks advanced, rebounding from last week’s losses, thanks to the strong performance of Big Tech companies.
The S&P 500 rose 0.7% to 4,487.46. The Dow Jones Industrial Average climbed 0.3% to 34,663.72. The Nasdaq Composite jumped 1.1% to 13,917.89.
The benchmark 10-year Treasury yield reached 4.28%, up from 4.26% on Friday. The two-year Treasury yield, which closely correlates with Fed expectations, rose slightly to 5.00% from 4.99% on Friday.
Asian stocks also saw gains following Wall Street’s rise, with Tokyo stocks opening higher on Tuesday.
The benchmark Nikkei 225 index was up 0.75%, or 243.56 points, at 32,711.32 in early trade, while the broader Topix index increased by 0.70%, or 16.41 points, to 2,376.89.
However, the Hang Seng Index slipped 0.45%, or 80.89 points, to 18,015.56, the Shanghai Composite Index dipped 0.08%, or 2.44 points, to 3,140.34, and the Shenzhen Composite Index on China’s second exchange lost 0.10%, or 1.86 points, to 1,951.05.
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