The Latest Breaking News from Lindsay James

The label once used to describe the UK’s industrial decline in the 1970s is echoing anew as fresh data show the economy slipping into reverse. A 0.1% contraction in September and weak quarterly growth have revived doubts about Britain’s economic vitality amid global trade headwinds.

The UK's annual rate of consumer price inflation is standing at 3.8%, nearly double the bank’s 2% target.

As widely expected, the Bank of England kept interest rates on hold as fears grow that the conflict between Israel and Iran will escalate to involve the United States. This would likely send oil prices soaring and push UK inflation further above target.

The price per ounce has recently hit $3500 before pulling back - what’s next for the investment safe haven?

Several of the world’s biggest companies saw their share prices tank in the aftermath of the US president’s proclamation

High government borrowing costs come amid fears that inflation is creeping up again, which could lead the Bank of England to keep rates on hold

The FTSE 100 was declining during the day but managed to gain 4.56 points late in the afternoon to close at 8,030.33.

Hunt defended the move, asserting that it aligns with the government's commitment to supporting businesses and individuals during challenging times.

Waterloo Road is making a sensational comeback tonight on BBC One - but there has still been plenty of drama in the lives of the cast away from the cameras