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UK wages grew at the fastest pace on record in the three months to July, despite a weaker jobs market in which unemployment rose and hiring slowed, official data showed on Tuesday. The Office for National Statistics said annual growth in average pay, excluding bonuses, remained at 7.8 per cent — the highest rate since

A British parliamentary researcher accused of working for Beijing has denied all spying allegations levelled against him. Speaking through Birnberg Peirce, the law firm representing him, the researcher said he felt “forced to respond to the media accusations that I am a ‘Chinese spy’”. “Given what has been reported, it is vital that it is

India’s prime minister Narendra Modi has called for the mandate of multilateral lenders such as the World Bank to be expanded, as the IMF’s managing director demanded an increase in the lender’s resources by the end of the year. Efforts to boost the balance sheets and reform the governance of the Washington-based multilateral lenders have

G20 leaders have failed to condemn Russia’s invasion of Ukraine in a joint statement after China and Russia rejected language that blamed Moscow for the conflict, highlighting the lack of global consensus in support of Kyiv. The New Delhi summit declaration refers only to the “war in Ukraine”, a formulation that supporters of Kyiv such

The UK’s plans to develop cleaner energy have suffered a major blow after the government failed to attract offshore wind developers to its latest round of contracts for new projects. No offshore wind projects won contracts in this year’s annual auction for subsidies, according to results published on Friday, after developers had warned that the

UK businesses expect inflation and wage growth to ease, according to a closely watched monthly survey by the Bank of England, providing some relief for policymakers ahead of the interest rate decision later this month. Output prices are expected to increase by 4.9 per cent over the next 12 months, according to August’s Decision Maker

The UK government will concede it will not use controversial powers in the online safety bill to scan messaging apps for harmful content until it is “technically feasible” to do so, postponing measures that critics say threaten users’ privacy. A planned statement to the House of Lords on Wednesday afternoon will mark an eleventh-hour effort

Arm plans to price its initial public offering at between $47 and $51 per share, according to an updated filing on Tuesday, raising up to $4.9bn for its current owner SoftBank and valuing the UK-based chip designer at up to $52bn. Cornerstone investors including Apple, Google, Nvidia, Intel and TSMC have indicated they plan to

UK prime minister Rishi Sunak is facing the prospect of two parliamentary by-elections in Conservative strongholds this autumn after Chris Pincher lost his appeal against an eight-week suspension from the House of Commons for groping two men last year. An independent parliamentary panel upheld the recommendation by the Commons standards committee in July, ruling that

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Dealing with the market turmoil sparked by then UK prime minister Liz Truss’ ill-fated “mini” Budget last year felt like swimming with crocodiles, according to the Bank of England’s chief economist. Huw Pill told a panel at South Africa’s central bank on Friday that the September fiscal event, which set out £45bn in unfunded tax

Britain’s economic performance since the start of the Covid-19 pandemic was much better than previously thought, the Office for National Statistics said on Friday as revised figures added nearly 2 per cent to the size of the economy. The changes mean that by the end of 2021, the UK economy was 0.6 per cent larger

UBS has reported the biggest ever quarterly profit for a bank, after recording a $29bn gain linked to its takeover of Credit Suisse. The Swiss lender announced the figures on Thursday as it said it would press ahead with absorbing Credit Suisse’s domestic business despite local and political opposition to a deal expected to result

What is included in my trial? During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Premium Digital includes access to our premier business column, Lex, as well

What is included in my trial? During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Premium Digital includes access to our premier business column, Lex, as well

In the summer of 2021, researchers at MIT and McMaster University in Canada fed an algorithm 7,000 chemical compounds in the hope that it would identify one that could kill Acinetobacter baumannii. Described by Jonathan Stokes, one of the scientists involved, as a “notoriously challenging” pathogen, strains of Acinetobacter have become resistant to antibiotics over

What is included in my trial? During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Premium Digital includes access to our premier business column, Lex, as well

What is included in my trial? During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Premium Digital includes access to our premier business column, Lex, as well

Donald Trump has surrendered to authorities in Atlanta, Georgia, where he faces 13 criminal charges over alleged attempts to subvert the results of the 2020 presidential election. The 77-year-old, who is the clear frontrunner in the race to again become the Republican candidate for the White House, was booked in Fulton County and photographed, before

An aircraft said to be carrying notorious warlord Yevgeny Prigozhin, whose Wagner group launched a failed mutiny in June, has crashed on a flight from Moscow to St Petersburg, according to Russian officials. All 10 people on the plane, including three crew members, died in the crash, Russia’s emergency ministry said, according to state newswire