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UK economy shrank unexpectedly by 0.1% in October
Rachel ClunBusiness reporter PA Media The UK’s economy shrank unexpectedly in the lead up to the Budget, according to the latest official figures. The economy contracted by 0.1% in October, the Office for National Statistics (ONS) said, whereas economists had been expecting it to grow by 0.1%. The economy also shrank by 0.1% in the…
Trump administration to pay German firm to halt US wind projects
RWE said it has agreed to relinquish its leases off the California and Louisiana coasts as well as in the New York Bight. Overall, the German firm plans to invest approximately €17bn (£14.5bn; $19.6bn) in the US over the next six years “to grow its generation capacity”. Interior Secretary Doug Burgum said in a statement…
US judge blocks detention of British social media campaigner
A US judge has temporarily stopped the Trump administration from detaining British activist Imran Ahmed after he sued officials over an entry ban for alleged online censorship. The founder of the Center for Countering Digital Hate is among five people denied US visas after the state department accused them of seeking to “coerce” tech platforms…
Government borrowing falls by more than a third in December
UK government borrowing was significantly lower last month, due to an increase in tax income outweighing spending, official figures show. In December government borrowing – the difference between public spending and tax income – was £11.6bn, the Office for National Statistics (ONS) said. It is down £7.1bn – 38% – from the previous December, and…
