Summary
Time for a recap…
UK bank TSB has been fined £48.65m by City regulators over its massive IT meltdown in 2018 that blocked millions of customers from their accounts for weeks.
Building society Nationwide has predicted that UK house prices only experience a “relatively soft landing” next year, and drop around 5%.
Train drivers union ASLEF has announced another one-day strike on Thursday 5 January after members at 15 train companies voted overwhelmingly for more walk-outs in a long-running dispute over pay.
British Airways has apologised after a technical issue triggered a wave of flight delays across the US and the Caribbean, causing delays for passengers including the British actor and model Liz Hurley.
Taiwan has suffered its biggest drop in export orders in over a decade, in a sign that global demand may be weakening.
US industrial conglomerate 3M has pledged to stop making forever chemicals by the end of 2025.
The yen has hit a four-month high against the US dollar, after the Bank of Japan surprised investors by reviewing its yield curve control policy.
Six of the UK’s largest banks will start lending on medium and high-rise flats with cladding from January, in a move that could help thousands of people stuck in properties they have not been able to sell or remortgage.
Amazon has reached a settlement with the European Union on Tuesday in two antitrust probes.
An exodus of more than half a million people from the British workforce since the Covid pandemic is putting the economy at risk of weaker growth and persistently higher inflation, a Lords report has warned.
Just in: applications for a new permit to build a house in the US fell sharply last month.
US building permits were down 11.2% year-on-year in November – a sign that construction activity may be slowing.
Residential property constrution starts also declined, dropping by 0.5% last month, to an annualised rate of 1.43m.
US Housing Starts (Nov) act: -0.5%, exp: -1.8%, prev: -4.2%
— Michael Hewson 🇬🇧 (@mhewson_CMC) December 20, 2022
US Building Permits (Nov) act: -11.2%, exp: -21%, prev: -3.3%
