Thank you for your participation. The triple lock is in the spotlight following the latest employment figures released by the Office for National Statistics this morning.
The national pension is expected to be raised by 8.5% in April next year, in line with the average income growth rate in the three months up to July.
5 things to start your day
1) Jeremy Hunt says tax cuts are ‘unlikely’ to be delivered in November budget | The Prime Minister downplayed expectations for tax cuts in his Autumn Statement in November.
2) Bank rate setters warn further rate hikes needed to curb inflation | The comments came just after the Bank of England governor said interest rates were nearing their peak.
3) MiniJump kicks off Britain’s electric car industry – but there’s a bumpy road ahead | Investment marks vote of confidence in British manufacturing despite looming tariff threat
Four) AI supercomputer could boost Tesla’s valuation by $480 billion, Citi predicts | Unmanned driving system “Dojo” is ready to significantly increase the value of cars, stock prices soar
Five) Wizz Air forced to ground due to engine failure | Airlines warn of reduced service over Christmas period while engines are inspected
what happened overnight
U.S. stocks rose on gains in Big Tech, helping Wall Street recoup half of last week’s losses.
The S&P 500 rose 0.7% to 4,487.46. The Dow Jones Industrial Average rose 0.3% to $34,663.72. The Nasdaq Composite Index rose 1.1% to 13,917.89.
The yield on the benchmark 10-year U.S. Treasury note rose to 4.28% from 4.26% late Friday. The two-year Treasury yield, a move more in line with Fed expectations, rose slightly during the day to 5.00% from 4.99% late Friday.
Tokyo stock markets opened higher on Tuesday, with Asian stocks slightly higher on the back of gains on Wall Street.
The benchmark Nikkei 225 index rose 0.75%, or 243.56 points, to 32,711.32 in early trade, while the broader Topix index rose 0.70%, or 16.41 points, to 2,376.89.
However, the Hang Seng Index fell 0.45% (80.89 points) to 18,015.56, the Shanghai Composite Index fell 0.08% (2.44 points) to 3,140.34, and the Shenzhen Composite Index on China’s second exchange fell 0.10% (1.86 points). 1,951.05.