Live, rolling coverage of business, economics and financial markets as investors weigh implications of Rachel Reeves’s budgetThe biggest mover on the FTSE 100 this morning is Reckitt Benckiser, the maker of products ranging from Dettol to Strepsils.Reckitt’s shares are up 10% after a US court ruling boosted its baby formula subsidiary, Mead Johnson.Abbott and Reckitt unit Mead Johnson are not responsible for a young boy’s debilitating intestinal disease, a jury found on Thursday in a lawsuit accusing them of failing to warn of their premature baby formulas’ risks, a victory for the two companies following large losses in similar trials.At the five-week trial in St. Louis, Missouri state court, lawyers for plaintiff Kaine Whitfield had urged jurors to award more than $6.2 billion.There’s a lot of new information about the economy and the nation’s finances presented to Parliament, and it’s normal for markets to respond.I think we’ve all got PTSD from Liz Truss and just let’s compare the two different scenarios, because they’re very, very different: So, under Liz Truss, as we saw, they sacked permanent secretary, they ignored the independent Office for Budget Responsibility. Continue reading…
Source link : https://www.theguardian.com/business/live/2024/nov/01/house-prices-uk-gilt-bond-yields-budget-rachel-reeves-us-non-farm-payrolls-jobs-business-live-news
Author : Jasper Jolly
Publish date : 2024-11-01 08:39:47
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British house price growth slows more than expected; UK borrowing costs close to annual high after budget – business live
