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The Guardian - UK
The Guardian - UK
Business
Graeme Wearden

Winter recession fears for UK after fall in retail sales – as it happened

Office for National Statistics United States Jeremy Hunt United Kingdom
People battle the weather in Newcastle City Centre in October, as Storm Babet hit the UK
People battle the weather in Newcastle City Centre in October, as Storm Babet hit the UK Photograph: DEW/Alamy

Closing post

Time to wrap up.

Here are today’s main stories, as UK government bonds continue to rally on expectations that UK interest rate will be cut in 2024, to stave off a possible recession after today’s drop in retail sales.

The financial watchdog has found that collapsed hospital operator NMC Health committed market abuse by understating its debts by as much as $4bn (£3.2bn).

The Financial Conduct Authority (FCA) censured the former FTSE 100 company on Friday for misleading the market but stopped short of fining it as no funds are expected to be left at the business once outstanding debts to creditors are paid out.

NMC Health was a London-listed healthcare operator, primarily running hospitals in the Middle East. It entered the FTSE 100 in 2017 after rapid growth and was valued at £8.6bn at its peak in 2018.

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