China fears overseas market ‘bubble’; German exports to UK down 30% in January – as it happened
Rolling coverage of the latest economic and financial news
- Latest: German exports to UK fell 30% in January
- Unemployment rises in Germany
- UK house prices rise unexpectedly
- Introduction: China bank regulator warns of bubble in overseas markets
- Speculation in China’s property market also a concern
And finally, here’s our economics editor Larry Elliott on Wednesday’s Budget:
Rishi Sunak will use tomorrow’s budget to signal that the government’s unprecedented and continuing support for jobs and businesses must end once the economy has emerged from the Covid-19 pandemic.
The chancellor will pledge to use all the tax and spending firepower at the government’s disposal to limit joblessness and business failures as the UK gradually lifts the restrictions that have left the economy almost 10% smaller than it was a year ago.
Related: Budget 2021: Rishi Sunak to pledge more government firepower to save jobs and businesses
Shares in UK engineering group Renishaw surged to a record high, after the group’s two founders and main shareholders put the company up for sale.
Shares closed almost 19% higher, the biggest riser in the FTSE 250 index, valuing the company at around £5bn.
Renishaw, the engineer regarded as a throw-back to a golden age of British manufacturing, was today put up for sale by its two octogenarian founders.
Sir David McMurtry, the executive chairman of and John Deer, the deputy chairman, said: “We are both grateful for our continued good health, however we recognise that neither of us is getting any younger. Now finding ourselves in our 80s, our thoughts have increasingly turned to considering the future of our shareholdings in the Company.”
