Rolling coverage of the latest economic and financial news
The biggest prize in economics, the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, will be awarded today.
Known as the Nobel Prize in Economics (although it’s not one of the original Nobels), the winner(s) will be announced at the Royal Swedish Academy of Sciences in Stockholm from 10.45am UK time.
“Businesses head into this Budget with one clear message: no surprises. Cost pressures continue to squeeze margins, hiring intentions are low and growth is starting to plateau.
Firms are not looking for grand interventions, but they do need certainty. Right now, concerns about further downside risks outweigh expectations of positive change.”
A highly contentious US deal with Russia to allow the export of more diesel to ease pressure in the market for the critical industrial fuel helped slightly with optics.
But the true impact is piecemeal, especially as Middle East refining remains heavily compromised and Ukrainian forces strategically strike Russian refineries.
All day: Paris Motor Show
From 10.45am BST: Nobel Prize for economics announced
2pm BST: Russia’s trade balance for August
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