Michael Race
@MRaceBBC
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Senior business and economics journalist for @BBCNews ✍🏼. 📩 [email protected] | Chairman @Cumnorcricket | #NUFC
Joined February 2015
Tax rises could push food prices higher, warn supermarkets
bbc.com
The bosses of the UK's largest supermarkets warn the chancellor against imposing higher taxes on the industry.
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“What wretched question have you prepared?” My surreal Q&A with Alexander Lukashenko last Sunday. He claimed his opponents had “chosen” prison or exile (in reality the authorities had chosen to target them.) Thanks @LizaShuvalova @AntonChicherov
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My first opportunity to ask Vladimir Putin a question since Russia’s full-scale invasion of Ukraine. It came at the end of the BRICS summit in Kazan. Producer @LizaShuvalova
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NEW & EXCL 🚨 Tesla owner Elon Musk not invited to next month’s UK Government International Investment Summit, after his social media posts during August riots. Musk made civil war predictions & spread [later deleted] false stories about detainment camps https://t.co/c2JiewNUaF
bbc.co.uk
There is concern about his social media posts about the UK during last month’s riots, the BBC understands.
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🚨INVESTIGATION🚨 How is Russia importing sanctioned British & EU cars in industrial quantities without it showing up in the trade data? I've spent the past few months trying to find out. My & @aoifeyourell's film from the Caucasus on how it happens👇
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Bank of England expected to hold interest rates at 5%
bbc.com
Economists are betting on rates being held in September with a cut to come in November instead.
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EXCLUSIVE from @ChrisMasonBBC and me Keir Starmer's top aide Sue Gray is paid more than the PM Meanwhile her junior colleagues are complaining they are underpaid Another sign of deep tensions at the top of government
bbc.com
A row breaks out within government after the prime minister's chief of staff is given a pay rise.
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NAO confirms that HS2 without phase 2 will result in trains with less space between Manchester and Birmingham than current west Coast services, and might require demand management to dissuade passengers…
bbc.co.uk
A report by the spending watchdog says new HS2 trains will have less space than existing services.
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Goods prices have moved from inflation to DE-flation. It will take a while, of course, for that to relieve the pressure for most households - because the cost of living is still well up on where it was. But it was goods prices that drove it up - and now they're pulling it down:
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NEW Bank of England HOLDs rates at 5.25% for sixth consecutive meeting… but one more vote from Bank Deputy Governor for a cut… 7-2 vote Forecast growth of 0.4% in Q1, recession over
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Join us from the Bank of England for the latest decision on interest rates https://t.co/xRy9Hg39Af
bbc.co.uk
The central bank keeps the cost of borrowing unchanged for the fifth time in row.
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More than a fifth of UK adults not looking for work
bbc.com
The UK's economic inactivity rate was 21.8% from November to January, official figures show.
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Nice to see Rishi Sunak being challenged about yesterday's story revealing how the Post Office ditched a secret investigation that might have helped subpostmasters prove their innocence. I'm not sure he actually answered, but it's great he was asked:
bbc.co.uk
The BBC has learnt that in 2016 an investigation into the flawed Horizon IT system was cancelled.
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The Post Office scandal doesn't stop with the Post Office. Read this for the low-down on a story that emerges from documents released under Freedom of Information. Assembled in a timeline, they become a little unsettling...This is top story this morning:
bbc.co.uk
Documents show the secret investigation may have helped wrongly accused postmasters prove their innocence.
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Latest ONS figures show the UK entered recession in the final three months of 2024.
GDP is estimated to have fallen in October to December (Quarter 4): ▪️ services fell (-0.2%) ▪️ construction fell (-1.3%) ▪️ production fell (-1.0%) ➡️ https://t.co/gsheUbREuI
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King Charles diagnosed with cancer and will postpone public-facing duties while undergoing treatment, Buckingham Palace says
bbc.co.uk
The King "remains wholly positive about his treatment" which began on Monday, says Buckingham Palace.
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The "loophole" raises questions over whether the measures are as harsh as hoped after the International Monetary Fund recently upgraded its forecast for Russia's economic growth in 2024 from 1.1% to 2.6%. Full story:
bbc.co.uk
Russian oil is refined in other countries and sold into the UK as jet fuel and diesel, research claims.
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Oleg Ustenko, adviser to President Volodymyr Zelensky, called on allies of Ukraine to toughen up sanctions. "We have to do everything possible to cut off finance to Russia. We have to make sure they do not have enough cash in their hands to continue this bloody war against us."
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