Highest

• European equities dropped to session lows after the European Central Bank raised interest rates to their highest level since 2025. • The decision followed a surge in Eurozone headline inflation to 3.3% in August, driven by a 14.3% increase in energy costs. • Higher rates aim to stop rising energy prices from triggering a cycle of higher wage demands and service pricing across the region.

High yields threaten to wipe out at least half of the £24bn headroom John Healey was expecting to have for his budgetThe UK government was forced to pay the highest interest rate for a 30-year bond since 1998 on Tuesday, underlining the fiscal challenges facing the chancellor, John Healey.Echoing the global bond market sell-off that has driven up yields, or interest rates, on government borrowing across major markets, the Treasury paid 5.82% to borrow £4bn. Continue reading...

• Asian stocks declined on Wednesday, September 2, with the MSCI Asia Pacific index dropping 1% due to soaring oil prices. • Major markets saw significant losses, including South Korea's Kospi tumbling 2.72%, Japan's Nikkei 225 shedding 2.27%, and the Topix losing 1.72%. • The downturn was driven by global bond yields hitting their highest levels since 2008, sparking fears that renewed inflation will force central banks to maintain tighter monetary policies.

Reid Wiseman, Victor Glover, Christina Koch and Jeremy Hansen received the Congressional Space Medal of HonorThe Artemis II astronauts who flew around the moon in April received the US’s highest space honor on Friday.Donald Trump presented the Congressional Space Medal of Honor to the three Americans and one Canadian whose lunar flyby for the US space agency Nasa set a new distance record for humanity. Continue reading...

Average cost of petrol reaches 161.6p a litre, while diesel costs average of 183.4p, according to the AAUK petrol prices have hit their highest level since 2022, piling more financial pressure on motorists before the bank holiday weekend.The average cost of petrol has reached 161.6p a litre, while diesel costs an average of 183.4p a litre, according to the breakdown company the AA. Continue reading...

• The Australian dollar reached its highest level since May as traders increased bets on potential interest rate hikes by the Reserve Bank of Australia (RBA). • In a separate industry shift, MUFG Pension & Market Services has entered into a binding scheme implementation deed to acquire the administration platform Grow. • This acquisition follows previous issues where HESTA members faced difficulties accessing retirement savings, prompting intervention from the financial regulator APRA.

Households in Great Britain will pay equivalent of £1,723 a year, prompting calls for more supportMillions of households in Great Britain will face the highest energy charges in three years this winter after months of soaring market prices caused the government’s price cap to rise for a second time in three months.Gas and electricity prices will rise by 4% from October under the new energy price cap, months after climbing 13% at the start of July to take account of soaring global energy market prices caused by the war on Iran. Continue reading...