The British economy unexpectedly shrank by 0.1 per cent in October, adding to signs of a sharper slowdown than had been forecast – and increasing the likelihood the Bank of England will up the pace of interest rate cuts. Sterling has fallen back from recent strength as traders react to the figures, which came in well below forecasts of 0.1 per cent growth for the month.
Among the companies with reports and trading updates today are Royal Mail, Boohoo and Tullow Oil. Read the Friday 13 December Business Live blog below. > If you are using our app or a third-party site click here to read Business Live. . Spire Healthcare hiked shareholder payouts more than any FTSE 350 firm in 2024, as 10 companies bucked a trend of weaker dividends with hikes of more than 50 per cent.
The FTSE 250 private healthcare provider announced a total dividend of 2.1 pence per share for 2024, up a whopping 320 per cent on last year's effort of 0.5 pence a share. The pound fell back from recent highs on Friday after fresh data showed the economy shrank for a second consecutive month.
Data from the office for National Statistics showed a 0.1 per cent GDP decline for October, below expectations of 0.1 per cent growth and following a 0.1 per cent fall the prior month. UK businesses are set to get more business from customers in the European Union (EU) under regulatory plans to cut up to £200million a year off interchange fees.
