UK petrol prices hit a three-year low, with unleaded prices dropping to 135.87p per litre. RAC spokesperson Simon Williams attributes this decrease to a relatively low oil price and a strong pound, predicting further reductions. Alison Watson has been appointed the first female president of the Chartered Institution of Civil Engineering Surveyors.
The Co-operative Group reported a £40m loss due to shoplifting, investing £18m in staff protection measures. The new high-speed Paris-to-Berlin train will launch in December, complementing the night train route. Meanwhile, Boeing workers in Renton, Washington, are on strike over wages and job conditions.
Labour’s annual conference in Liverpool featured business executives seeking insight into the party’s governance plans. Chancellor Rachel Reeves hinted at a relaxation of fiscal rules for investment, with the budget expected to include measures to boost the economy. DFS announced a loss due to reduced market demand and shipping disruptions.
The OECD upgraded the UK’s economic growth forecast for 2024 and 2025, ranking it second in the G7 behind the US. Despite robust growth, the UK faces the highest inflation rate among G7 nations. The OECD predicts a global economic recovery, supported by lower inflation and central bank interventions. Chief economist Álvaro Pereira noted the surprising strength of the recovery, following previous pessimistic forecasts.
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