Author: News Desk

Today’s business news – in the UK and beyond amid concerns about the world’s largest economy and the fall in the Asian, US and UK markets.

UK shares dropped on Wednesday morning following falls in Asian and US markets as concerns grow about the US economy – which is the world’s largest.

Data showed US manufacturing activity remains subdued, with investors now focussed on US jobs figures due on Friday.

The pound’s recent strong rally has slowed, with traders looking for direction in a quiet week for UK economic data. Sterling is down 0.2% against the dollar, trading around $1.311, after losing over 1% in the past five days. 

The dollar is near a two-week high ahead of key US data, including manufacturing PMI and Friday’s jobs report. These figures will influence whether the US Federal Reserve cuts rates by 25 or 50 basis points in September.

Premier League to rewrite rules after legal defeat The Premier League is urgently reviewing its profitability and sustainability rules (PSR) after Leicester City successfully challenged them.  Leicester avoided punishment for overspending by £20 million. Their lawyers argued that the club wasn’t bound by the rules because their accounts were finalised after their 2023 relegation. This ruling revealed a loophole in the Premier League’s rules, which other clubs could use to avoid penalties like those given to Everton and Nottingham Forest. The Premier League expressed disappointment, saying the decision didn’t consider the intent of the rules. This setback weakens the league’s…

Analysts at Panmure Liberum believe the UK will outperform other major economies in the coming months, thanks to stronger domestic demand.

Recent PMI data shows the UK saw growth in output and new orders in August, unlike the US and other major European economies.

Keir Starmer offers apology ‘on behalf of British state’ to victims of Grenfell Tower fire – live Prime minister says the country failed its most fundamental duty to protect those affected by the fire as he apologises to families affected. Sir Martin Moore-Bick will be giving a statement as the final inquiry report is published at 11 am. You can watch the inquiry’s chair give the address here …We will bring you the key lines that emerge. Continue reading… https://www.theguardian.com/uk-news/live/2024/sep/04/grenfell-tower-inquiry-report-published-survivors-victims-government-latest-updates

The Paris 2024 Paralympics are in full swing with the finest Paralympians from across the globe eyeing glory in the French capital. Team GB are looking for a repeat of their showing three years ago in Tokyo, where they finished second in the table with 124 medals – with a huge 41 of those being gold. And Great Britain are firmly on the way to repeating their Japanese heroics, having scooped 29 golds in their first five days of competition. But exactly how many sports and events are there in the Paralympics and how many medals are being handed out…

The Paralympic Games are continuing a summer of sporting excellence. Thousand of athletes from all over the world are competing in the 2024 Games, which are taking place just over two weeks since the Olympics drew to a close. Though it celebrates multiple disciplines of sport like the Olympics, the event has some significantly different traditions and practices, particularly when it comes to the medals the athletes receive in their respective sports. For blind athletes taking part in the Games, how are they able to tell which medal they have won? How do blind Paralympians know which medal they’ve won?…

Paris was a whirlwind but what a privilege it was to be a part of it. I’m very much enjoying being home again but my the last few weeks are finally starting to sink in and I’m realising that I’m officially an Olympian. An Olympic Games is a pretty special event. With most of the world’s attention set on one place for two weeks, everything feels a lot more intense and exaggerated. Suddenly it’s not just the climbing community watching us compete! It was a hard thing to process while I was out in France but it feels as if…

British wheelchair tennis sensation Alfie Hewett will be looking to claim the only major honour missing from his bulging trophy cabinet at the Paris 2024 Paralympics. Having claimed the Wimbledon singles title for the first time in his career earlier this summer, Hewett is gunning for gold on the clay courts of Roland-Garros. Hewett is also in action in the French capital alongside long-term tennis partner Gordon Reid, as they look to go one better than the silver they claimed in Tokyo three years ago. Hewett’s story is one of determination, with his life-long disability not stopping him from fulfilling…