Rolling coverage of business, economics and markets as British prices rise faster than expected
- Consumer prices rise; house prices increase across the UK
- Boeing finds debris in fuel tanks of undelivered 737 Max planes
- Markets gain amid lull in coronavirus fears
- Metro Bank appoints new chief executive amid scandal fallout
The Nasdaq index in New York has hit its latest record high, with investors apparently circumspect about the risks of the coronavirus outbreak worsening and the prospect of central banks stepping in to help the economy along.
The Nasdaq composite index gained 0.6% in early trading on Wall Street, hitting 9,795 points for the new record.
ING Bank: UK inflation is set to fall over the next few months on lower household energy costs. Barring a more significant decline in economic activity, we think the Bank of England will ‘look through’ lower CPI and keep rates on hold this year. #forex #fx #currencies #fxstreet
Brexit on Amazon
Qatar Airways has spent about £460m on increasing its stake in British Airways-owner IAG to increase its holding to 25.1%, strengthening its position ahead of a change in IAG management, Reuters reports:
In an endorsement of the Anglo-Spanish group just weeks before its founder Willie Walsh steps down, Qatar said on Wednesday the move showed its support for IAG and its strategy.
Qatar previously held 21.4% of IAG, which also owns Spanish carriers Iberia and Vueling and Ireland’s Aer Lingus. IAG’s share price has risen by 52% in the last six months.