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UK house prices fell for the fourth consecutive month in December, marking the longest contraction since the 2008 financial crisis, as rising interest rates deterred prospective buyers. Prices contracted 0.1 per cent between November and December, following falls every month since September, according to figures provided by Nationwide, the mortgage provider. It was the worst

The EU has rejected an Italian demand to reimpose travel restrictions on arrivals from China, as capitals across the world take divergent approaches to surging numbers of coronavirus infections in the country. EU officials at a meeting on Thursday did not endorse a call from Giorgia Meloni, Italy’s prime minister, for the bloc to collectively

European natural gas prices have fallen to levels last recorded before Russia’s full-scale invasion of Ukraine in February, as warmer weather helps the continent to preserve its reserves. The Dutch TTF gas future for the coming month, the benchmark European contract, dropped as much as 7.4 per cent on Wednesday to €76.78 per megawatt hour

China will remove quarantine requirements for inbound travellers from January 8 as the country dismantles the remnants of a zero-Covid regime that closed it off from the rest of the world for almost three years. The National Health Commission on Monday unveiled the move as part of a wider announcement that downgraded the country’s management

Hedge funds trading bonds and currencies are on track for their best year since the global financial crisis, boosted by the steep interest rate rises that have inflicted heavy losses on equity specialists and mainstream investors. So-called macro hedge funds, made famous by the likes of George Soros and Louis Bacon, endured a barren period

Apple’s business is under threat from a widespread coronavirus outbreak in China, with supply chain experts warning of a growing risk of months-long disruption to the production of iPhones. The US tech giant has had to contend with more than a month of chaos at its main assembler Foxconn’s megafactory in Zhengzhou, China, known as

Chinese officials estimate about 250mn people or 18 per cent of the population were infected with Covid-19 in the first 20 days of December, as Beijing abruptly dismantled restrictions that had contained the disease for almost three years. The estimates — which include 37mn people who were infected on Tuesday alone, or 2.6 per cent

Hospitals in Beijing are being overwhelmed by sick elderly Covid-19 patients just weeks after China abandoned its tough coronavirus containment measures with little preparation for the exit wave now ripping through the country. Emergency rooms have run out of portable beds for patients, the infirm are waiting hours for ambulances and many doctors are too

The UK economy contracted by more than previously estimated in the third quarter and lagged further behind other advanced economies, as households struggled with high inflation. Data published by the Office for National Statistics on Thursday also suggested that consumers are not dipping into their savings as much as forecast, suggesting the UK’s recession could

UK health secretary Steve Barclay on Wednesday doubled down on the government’s decision not to negotiate on pay with striking NHS staff, as he accused ambulance unions of jeopardising patient safety. The government is braced for severe disruption within the NHS across England and Wales, following the decision by about 10,000 ambulance workers represented by

A Russian court has ordered the seizure of a luxury hotel complex owned by billionaire Oleg Deripaska, one of the few oligarchs to have criticised President Vladimir Putin’s war in Ukraine, in a sign of the pressure facing the country’s tycoons since the invasion. The legal dispute, following an initial claim brought by a science

Twitter users have voted for Elon Musk to step down as the social network’s chief executive, adding to turmoil over the future of the San Francisco-based company. The billionaire entrepreneur, who bought Twitter for $44bn in October, launched a poll via the platform on Sunday asking whether he should remain at the helm, adding: “I

Covid-19 is spreading rapidly through China’s biggest cities, leading to widespread medicine shortages and exposing Beijing’s lack of preparation after authorities reversed strict pandemic controls. Residents of Shanghai, Shenzhen and other cities reported pharmacies have sold out of fever medicine and Covid tests, while social media images contrast long queues outside Covid clinics with otherwise

The EU’s trading partners have hit out at the bloc’s plan to introduce the world’s first carbon border tax, saying it is protectionist and puts export industries at risk, as negotiations to complete the deal stretch into the weekend. Several developing nations have already begun to negotiate with Brussels for waivers on the proposals, which

Evidence of a wave of Covid-19 deaths is beginning to emerge in Beijing despite official tallies showing no fatalities since an uncontrolled outbreak began sweeping through China’s capital this week. Staff at one crematorium in Beijing said they cremated the bodies of at least 30 Covid victims on Wednesday and Financial Times reporters saw two

The Bank of England raised interest rates on Thursday by half a percentage point to 3.5 per cent, the highest level in 14 years, warning that further rate rises were likely. In a vote showing a large majority on the central bank’s Monetary Policy Committee for “forceful” action against inflation, six of the nine members

UK inflation dipped to 10.7 per cent in November as an easing in the rise in petrol prices helped to lower the rate from a 41-year high of 11.1 per cent last month. The figure was better than an expected 10.9 per cent and economists said the annual inflation rate had now probably passed its

US securities regulators have charged Sam Bankman-Fried with defrauding investors in his bankrupt cryptocurrency exchange FTX following his arrest in the Bahamas. The Securities and Exchange Commission said on Tuesday it had charged Bankman-Fried with defrauding venture capitalists and other equity investors who pumped $1.8bn into Nassau-based FTX, the majority of whom are based in

Microsoft has agreed to buy a £1.5bn stake in London Stock Exchange Group as part of a 10-year strategic partnership between the US software company and the 300-year-old UK exchange. The deal, announced on Monday, marks the latest tie-up between finance and Big Tech. In November, Google invested $1bn in Chicago-based CME as part of

The White House’s chief energy adviser has described as “un-American” the refusal of US shale investors to ramp up drilling, even as Moscow’s invasion of Ukraine causes havoc on global oil and gas markets. US oil groups have been under pressure from Wall Street to funnel record profits back to investors this year, despite repeated