The downward run for US inflation ended today, with the rate of price rises in July rising to 3.2%. But core inflation ticked slightly down to 4.7%, enough to reassure investors that the fed is done with rate hikes.
In London, housebuilder Persimmon was the latest housebuilder to be hit by the Bank of England’s rate rises, while gambling giant Entain put aside £585 million to settle an HMRC bribery investiation. Deliveroo, meanwhile, has upgraded earnings guidance and could soon pay its first dividend.
But the biggest UK business news concerns retailer Wilko, which has officially entered administration.
Administrators at PwC said there would be no store closures or “immediate” redndancies.
